HOMESIGHT

As filed

Subsection

03

NTEE code

Z99Z

Classification

1000

Street

5117 RAINIER AVE S

These codes are the IRS's own and are shown exactly as filed. What each one means is in the Business Master File documentation (opens in a new tab).

Other organizations at this address

2 other organizations in the IRS Business Master File list the same street address. matched by us

We match the street line and ZIP code as the IRS gives them, ignoring case and outer spaces and nothing else, so "AVE" and "AVENUE" count as different streets and this list can miss some. A shared address can mean related organizations or a shared office, but it can also be a registered agent, a mail drop or a service provider holding mail for unrelated clients. It is not, by itself, evidence that two organizations are connected.

• HOMESIGHT COMMUNITY DEVELOPMENT

  EIN 82-4218470

• SOUTHEAST EFFECTIVE DEVELOPMENT

  EIN 91-0947619

Mission and programs · 2024

• HOMEBUYER SERVICES & LENDING: HOMESIGHT'S HOMEBUYER EDUCATION AND COUNSELING PROGRAMS SERVE NEARLY 350 HOUSEHOLDS ANNUALLY, INCLUDING NEW AND EXISTING CUSTOMERS. IN 2024, OF THESE CUSTOMERS, 94% WERE AT OR BELOW 80% PERCENT OF THE AREA MEDIAN INCOME. HOMESIGHT'S MISSION IS TO SERVE PRIMARILY MODERATE-INCOME FAMILIES WISHING TO PURCHASE THEIR FIRST HOME, BUT AS A HUD-CERTIFIED HOUSING COUNSELING ONE-ON-ONE AGENCY, IT CANNOT DISCRIMINATE BASED ON INCOME. ITS HOMEBUYER PROGRAM CONSISTS OF COUNSELING AND NO-COST CLASSES ON ACHIEVING THE DREAM OF HOMEOWNERSHIP, OR AN ONLINE BUYER EDUCATION CURRICULUM FOR A NOMINAL FEE.HOMESIGHT DEVELOPED ITS REVOLVING LOAN FUND IN 1991 TO ADDRESS THE GROWING GAP BETWEEN FAMILY INCOMES AND HOME PRICES. IT OFFERS PURCHASE ASSISTANCE LOANS FUNDED BY PUBLIC AND PRIVATE INVESTMENTS TO PACKAGE HIGHLY COMPETITIVE AMORTIZING OR DEFERRED SECOND LOANS AND DEFERRED THIRD LOANS FOR LOW- AND MODERATE-INCOME HOMEBUYERS. THIS STRUCTURE ALLOWS HOMESIGHT TO MINIMIZE OR ELIMINATE THE REQUIREMENT FOR FHA OR PRIVATE MORTGAGE INSURANCE FOR ITS CUSTOMERS THEREBY INCREASING THE BUYING POWER OF LOW- AND MODERATE-INCOME FIRST-TIME HOMEBUYERS. HOMESIGHT IS A "CORRESPONDENT" 1ST MORTGAGE LENDER TO THE WASHINGTON STATE HOUSING FINANCE COMMISSION, A LOCAL COMMUNITY BANK, AND A NEIGHBORWORKS AMERICA PARTNER. IN 2024, HOMESIGHT ORIGINATED OVER $9.5 MILLION IN 1ST MORTGAGE LOANS WITH ITS CAPITAL PRIMARILY FOR SUBSEQUENT SALE TO THESE LENDERS. THROUGH THESE CHANNELS HOMESIGHT PROVIDES QUALITY, LOW-INTEREST DOWN-PAYMENT OPTIONS AND MORE FLEXIBLE CASE-BY-CASE UNDERWRITING THAT ALLOWS MANY MORTGAGE-ELIGIBLE CUSTOMERS TO ACCESS CREDIT THAT WOULD NOT BE AVAILABLE TO THEM OTHERWISE. IN 2020, HOMESIGHT WAS APPROVED BY THE US DEPARTMENT OF TREASURY - CDFI FUND TO EXPAND THE TARGET MARKET TO AFRICAN AMERICANS (AA) IN KING, PIERCE, AND SNOHOMISH COUNTIES. SINCE THIS ADDITION, HOMESIGHT HAS FOUGHT AGAINST REDLINING AND GENTRIFICATION OF AA'S IN THE SEATTLE AREA BY INTRODUCING LENDING PROGRAMS SUCH AS THE SAM SMITH HI NEIGHBOR HOMEOWNERSHIP FUND (SSHNHF) AND THE SOCIAL JUSTICE (SJ) DPA PROGRAM. THE SSHNHF HELPS AA'S BETWEEN 80-120% AREA MEDIAN INCOME, PURCHASE HOMES ACROSS WASHINGTON STATE BY OFFERING DOWN PAYMENT ASSISTANCE UP TO $20,000 AT 3% DEFERRED FOR 30 YEARS. HOMESIGHT HAS PARTNERED WITH WINDERMERE, US BANK, AND NAREB TO PIONEER THIS INNOVATIVE PROGRAM. AS HOUSING PRICES CONTINUE TO SKYROCKET AND INTEREST RATES CREEP UP, HOMESIGHT HAS MADE IT A MISSION TO SUPPORT BIPOC COMMUNITIES. HOMESIGHT IS SUPPORTING BIPOC FIRST TIME HOME BUYERS BY OFFERING THE SOCIAL JUSTICE DPA PROGRAM. THE PROGRAM INCLUDES $10,000 DEFERRED DOWN PAYMENT ASSISTANCE AT 0% FOR 30 YEARS. THE $3 MILLION SJ DPA FUND WILL HELP 300 BIPOC FAMILIES PURCHASE HOMES IN WASHINGTON STATE. IN 2021, HOMESIGHT LAUNCHED A COUPLE OF DIFFERENT MORTGAGE LOAN PROGRAMS TO FURTHER SUPPORT BIPOC COMMUNITIES. HOMESIGHT NOW OFFERS A VISTA (ITIN) LOAN PROGRAM AND A SHARIA COMPLIANT LOAN PROGRAM. THE VISTA LOAN IS AIMED AT HELPING THOSE WITHOUT TRADITIONAL SOCIAL SECURITY NUMBERS PURCHASE HOMES. THE VISTA LOAN PROGRAM ONLY REQUIRES A 5% DOWN PAYMENT BY THE BORROWER. THIS IS MUCH FRIENDLIER THAN THE OTHER ITIN PROGRAMS AROUND WHICH REQUIRE 10% TO 30% DOWN. HOMESIGHT WAS ALSO APPROVED BY THE WASHINGTON STATE HOUSING FINANCE COMMISSION TO FUND AND SELL SHARIA COMPLIANT FIRST MORTGAGES. THERE IS A LARGE ISLAMIC POPULATION IN SEATTLE THAT NEEDS SUPPORT IN PURCHASING FIRST HOMES. HOMESIGHT WAS EXCLUSIVELY APPROVED BY THE WSHFC TO OFFER THESE LOANS. HOMESIGHT PARTNERED WITH IJARA CDC TO OFFER THIS INNOVATIVE, INTEREST FREE, AND SHARIA COMPLIANT LOANS. TOGETHER WITH OUR PARTNERS WE HOPE TO MAKE A DIFFERENCE FOR FIRST-TIME HOMEBUYERS IN THIS HOUSING MARKET IN WASHINGTON STATE.

  Expenses $2,335,559 · Grants $5,000 · Revenue $2,416,420

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Officers and directors · 2024

As listed in Part VII of the 2024 return, in the order the filer printed them. Each return names its own; this is not a roster the organization keeps with us.

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. Earlier years are each on their own filing page.

Filings

• 2024

  Revenue

  $7,158,682

  Expenses

  $4,146,837

  Contributions

  $4,422,503

  Grants paid

  $5,000

• 2023

  Revenue

  $7,544,080

  Expenses

  $6,014,760

  Contributions

  $5,231,759

  Grants paid

  $698,015

• 2022

  Revenue

  $8,981,658

  Expenses

  $7,984,391

  Contributions

  $6,201,573

  Grants paid

  $3,445,736

The four totals the IRS asks for on Part I of the Form 990, as filed. A dash means the figure was not present on the return — not that it was zero.

Other returns filed

• 2021 · 990

  Revenue

  $6,802,889

  Expenses

  $6,022,868

  Assets (EOY)

  $62,181,156

• 2020 · 990

  Revenue

  $11,460,706

  Expenses

  $5,584,697

  Assets (EOY)

  $68,176,389

• 2019 · 990

  Revenue

  $7,056,206

  Expenses

  $5,598,765

  Assets (EOY)

  $52,166,168

• 2018 · 990

  Revenue

  $11,078,348

  Expenses

  $6,221,132

  Assets (EOY)

  $45,659,164

• 2017 · 990

  Revenue

  $10,589,590

  Expenses

  $6,184,341

  Assets (EOY)

  $41,134,653

• 2016 · 990

  Revenue

  $10,382,642

  Expenses

  $4,329,938

  Assets (EOY)

  $36,617,163

• 2015 · 990

  Revenue

  $5,341,856

  Expenses

  $3,596,164

  Assets (EOY)

  $29,845,661

• 2014 · 990

  Revenue

  $7,105,023

  Expenses

  $3,029,622

  Assets (EOY)

  $28,959,896

• 2013 · 990

  Revenue

  $4,271,822

  Expenses

  $2,974,660

  Assets (EOY)

  $34,153,066

• 2012 · 990

  Revenue

  — not reported

  Expenses

  $3,299,934

  Assets (EOY)

  $43,445,779

Nonprofiteer parses Forms 990, 990-EZ and 990-PF, in a window of recent tax years. These returns are recorded from the IRS e-file index, so their figures were extracted by that index rather than read from the return here — treat them as a different source from the filings above, not as more of the same record. A dash means the index carries no figure; Form 990-T listings carry none at all. Showing the 10 most recent; the API carries the rest.

Grants made

• LITERARY SOURCE

  $285,144

  2022 · READY TO WORK

• LITERACY SOURCE

  $278,930

  2023 · READY TO WORK

• ASIAN COUNSELING & REFERRAL SERVICE

  $196,787

  2022 · READY TO WORK

• ASIAN COUNSELING & REFERRAL SERVICE

  $190,000

  2023 · READY TO WORK

• FRONT AND CENTERED

  $90,000

  2023 · COMMUNITY DEV

• NEIGHBORHOOD HOUSE

  $72,889

  2022 · READY TO WORK

• NEIGHBORHOOD HOUSE

  $65,393

  2023 · READY TO WORK

• SOMALI COMMUNITY SERVICES OF SEA

  $49,990

  2023 · READY TO WORK

• SOMALI COMMUNITY SERVICES OF SEA

  $42,604

  2022 · READY TO WORK

• LEWIS MILLER LLC DBA COMFORT ZONE

  $8,000

  2023 · COMMUNITY DEV

The 10 largest by cash amount. The API serves every itemized grant.

Where these grants went next →

Grants received

• NEIGHBORHOOD REINVESTMENT CORP

  $542,500

  2022 · GENERAL SUPPORT

• NEIGHBORHOOD REINVESTMENT CORP

  $442,500

  2024 · GENERAL SUPPORT

• NEIGHBORHOOD REINVESTMENT CORP

  $387,500

  2023 · GENERAL SUPPORT

• WINDERMERE FOUNDATION

  $162,181

  2022 · SHELTER

• THE SEATTLE FOUNDATION

  $150,000

  2023 · BHI DEBT REDUCTION FUND

• WINDERMERE FOUNDATION

  $112,000

  2023 · SHELTER

• THE SEATTLE FOUNDATION

  $100,000

  2024 · TO SUPPORT FO15.

• THE SEATTLE FOUNDATION

  $75,000

  2024 · BHI DEBT REDUCTION FUND

• THE MON VALLEY INITIATIVE

  $67,505

  2023 · HOUSING COUNSELING

• WINDERMERE FOUNDATION

  $59,320

  2024 · SHELTER

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations

From Schedule R Part II, where a filer lists the tax-exempt organizations it is related to by control. It does not record shared board members or money.

Taxable family

From Schedule R Parts I, III and IV: entities that legally are the filer, and taxable partnerships, corporations and trusts it is related to. These record ownership and control, not shared board members or money.

Other IRS files