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Nonprofiteer
← WASHINGTON COMMUNITY REINVESTMENT ASSOCIATION

Form 990 for tax year 2024

Filed by WASHINGTON COMMUNITY REINVESTMENT ASSOCIATION.

Totals

Total revenue
$8,128,532
Total expenses
$7,538,006
Contributions and grants received
$7,400
Grants paid
$10,000
Program service revenue
$7,805,360
Investment income
$315,772
Other revenue
$0
Total assets, end of year
$151,552,466
Total liabilities, end of year
$144,644,034
Net assets or fund balances, end of year
$6,908,432
Program services expenses (Part IX)
$6,897,323
Management and general expenses
$640,683
Fundraising expenses
$0
Program service expenses (Part III)
$6,897,323

Program services were 91.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $7,400

  • 2a · Program service revenue: LOAN INTEREST

    total $6,244,352 · related or exempt $6,244,352

  • 2b · Program service revenue: CONSTRUCTION REVIEW

    total $670,575 · related or exempt $670,575

  • 2c · Program service revenue: LOAN FEES

    total $429,858 · related or exempt $429,858

  • 2d · Program service revenue: ADMINISTRATIVE SERVICE

    total $328,350 · related or exempt $328,350

  • 2e · Program service revenue: AGENCY INCOME

    total $132,225 · related or exempt $132,225

  • 3 · Investment income

    total $318,539 · excluded $318,539

  • 7a · Gross sales of assets other than inventory

    other assets $179

  • 7b · Less cost or other basis and sales expenses

    other assets $2,946

  • 7c · Gain or loss

    other assets -$2,767

  • 7d · Net gain or loss

    total -$2,767 · excluded -$2,767

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000 · program services $10,000

  • 5 · Compensation of officers, directors and key employees

    total $534,839 · program services $411,826 · management and general $123,013

  • 7 · Other salaries and wages

    total $170,936 · program services $131,621 · management and general $39,315

  • 8 · Pension plan contributions

    total $163,603 · program services $125,974 · management and general $37,629

  • 9 · Other employee benefits

    total $110,492 · program services $85,079 · management and general $25,413

  • 10 · Payroll taxes

    total $63,891 · program services $49,196 · management and general $14,695

  • 11a · Fees: management

    total $252,699 · program services $189,524 · management and general $63,175

  • 11b · Fees: legal

    total $35,374 · management and general $35,374

  • 11c · Fees: accounting

    total $77,854 · management and general $77,854

  • 11g · Fees: other

    total $639,903 · program services $479,927 · management and general $159,976

  • 12 · Advertising and promotion

    total $12,444 · program services $9,333 · management and general $3,111

  • 13 · Office expenses

    total $49,172 · program services $36,880 · management and general $12,292

  • 16 · Occupancy

    total $124,199 · program services $93,149 · management and general $31,050

  • 17 · Travel

    total $10,399 · program services $7,799 · management and general $2,600

  • 19 · Conferences, conventions and meetings

    total $5,109 · program services $3,832 · management and general $1,277

  • 20 · Interest

    total $5,141,172 · program services $5,141,172

  • 22 · Depreciation, depletion and amortization

    total $4,383 · program services $3,287 · management and general $1,096

  • 23 · Insurance

    total $52,268 · program services $47,041 · management and general $5,227

  • 24a · Other expenses: PROVISION FOR LOAN LOSS

    total $28,302 · program services $28,302

  • 24b · Other expenses: LICENSE AND FEES

    total $27,514 · program services $24,763 · management and general $2,751

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $5,999 · program services $4,499 · management and general $1,500

  • 24d · Other expenses: SERVICE CHARGES

    total $4,114 · program services $4,114

  • 24e · All other expenses

    total $13,340 · program services $10,005 · management and general $3,335

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,805,695 · end of year $7,153,159

  • 2 · Savings and temporary cash investments

    beginning of year $3,103,397 · end of year $6,839,278

  • 4 · Accounts receivable

    beginning of year $694,115 · end of year $734,375

  • 7 · Other notes and loans receivable

    beginning of year $9,589,035 · end of year $10,392,877

  • 9 · Prepaid expenses and deferred charges

    beginning of year $60,084 · end of year $22,821

  • 10a · Land, buildings and equipment: cost or other basis

    $57,444

  • 10b · Land, buildings and equipment: accumulated depreciation

    $51,700

  • 10c · Land, buildings and equipment, net

    beginning of year $5,235 · end of year $5,744

  • 11 · Investments: publicly traded securities

    beginning of year $561 · end of year $561

  • 13 · Investments: program-related

    beginning of year $114,493,681 · end of year $126,213,495

  • 15 · Other assets

    beginning of year $292,378 · end of year $190,156

  • 17 · Accounts payable and accrued expenses

    beginning of year $381,793 · end of year $407,655

  • 18 · Grants payable

    beginning of year $12,684,002 · end of year $18,993,207

  • 23 · Secured mortgages and notes payable

    beginning of year $112,832,176 · end of year $124,467,047

  • 25 · Other liabilities

    beginning of year $828,304 · end of year $776,125

  • 27 · Net assets without donor restrictions

    beginning of year $6,317,906 · end of year $6,908,432

Mission and programs · 2024

Mission

THE CREATION AND PRESERVATION OF AFFORDABLE HOUSING IN WASHINGTON STATE. TO EXPAND RESOURCES FOR REAL ESTATE BASED COMMUNITY DEVELOPMENT, AND TO BE A VOICE FOR ITS MEMBER FINANCIAL INSTITUTIONS ON AFFORDABLE HOUSING AND COMMUNITY DEVELOPMENT ISSUES.

Activities or mission (Part I)

THE CREATION AND PRESERVATION OF AFFORDABLE HOUSING IN WASHINGTON STATE.

  • PROVIDE PERMANENT FINANCING AND TECHNICAL ASSISTANCE TO FACILITATE THE DEVELOPMENT OF AFFORDABLE HOUSING AND REALTY-BASED ECONOMIC DEVELOPMENT IN WASHINGTON. ESTABLISHED TO ASSIST POTENTIAL BORROWERS IN OBTAINING PERMANENT FINANCING FOR MULTI-FAMILY PROJECTS VIA LOANS PARTICIPATED IN BY WCRA'S MEMBERS.

    Expenses $6,850,694 · Grants $10,000 · Revenue $7,566,426

  • THE WELL PROGRAM IS A STATE FUNDED PROGRAM TO PROVIDE TECHNICAL ASSISTANCE, LOANS AND GRANTS TO EARLY LEARNING AND CHILDCARE PROVIDERS ACROSS THE STATE OF WASHINGTON. THE WCRA ADMINISTERS THE PROGRAM AND PROVIDES LENDING TECHNICAL ASSISTANCE, LOAN UNDERWRITING AND MANAGEMENT, PARTNERING WITH OTHER NONPROFITS WHO PROVIDE TECHNICAL ASSISTANCE AND GRANT FUNDING.

    Expenses $46,629 · Revenue $238,934

As filed on the 2024 return.

Listed in Part VII

  • Christine Roveda

    PRESIDENT

    Total calculated
    $322,160
    From this org
    $299,342
    From related orgs
    $0
    Other
    $22,818
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $222,982
    Bonus
    $75,533
    Other
    $827
    Deferred
    $0
    Nontaxable benefits
    $22,818
    Filer's total
    $322,160

  • Bob Powers

    CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Tim Grant

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0.5

  • Dustin Koons

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Kim Etherton

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • Caleb Stephens

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Kris Hollingshead

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jennifer A Barnes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mike Gilmore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Anna Smukowski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Brett Manning

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Tedd Kelleher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Stephen Walker

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jonathan Clarke

    DIRECTOR (THRU 02/25)

    Total calculated
    $0
    Hours/week
    0.5

  • Angel Ratliff

    VICE PRESIDENT

    Total calculated
    $186,096
    From this org
    $158,725
    From related orgs
    $0
    Other
    $27,371
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,657
    Bonus
    $39,805
    Other
    $263
    Deferred
    $0
    Nontaxable benefits
    $27,371
    Filer's total
    $186,096

  • Rosalie Minier

    ACCOUNTANT & OFFICE MANAGER

    Total calculated
    $147,179
    From this org
    $120,499
    From related orgs
    $0
    Other
    $26,680
    Hours/week
    40

  • Jeanelyn Quinto

    LOAN ADMINISTRATOR

    Total calculated
    $128,715
    From this org
    $110,989
    From related orgs
    $0
    Other
    $17,726
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee
  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 5
THE COMPANY HAS AN EMPLOYEE BONUS PLAN THAT IS A CALCULATION OF VARIOUS PERFORMANCE AREAS. THE MAXIMUM AMOUNT OF THE POOL AVAILABLE FOR BONUS ALLOCATION IS EQUAL TO 25% OF THE NET REVENUE PER THE BUDGET VARIANCE REPORT SHOWN ON THE 4TH QUARTER FINANCIAL STATEMENTS AFTER CERTAIN ADJUSTMENTS ARE MADE. THE PERCENTAGE OF DISTRIBUTION OF THE POOL WILL BE DETERMINED BASED ON THE PERFORMANCE CRITERIA (GOALS) ADOPTED BY THE EXECUTIVE COMMITTEE OF THE WCRA BOARD OF DIRECTORS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • 1200 5TH LLC

    AGENT FOR WCRA LOAN ACTIVITY. · WA · income $132,225 · assets $0

    Directly controlled by WASHINGTON COMMUNITY REINVESTMENT ASSOC

Provenance

Return type
form_990
Tax year
2024
Filed
16 April 2026
IRS schema version
2024v5.5
Source object
202641109349300969

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