Attach to Form 990 or Form 990-EZ.
Go to
www.irs.gov/Form990 for the latest information.
| (i) Name of supported organization | (ii) EIN | (iii) Type of organization (described on lines 1- 10 above (see instructions)) | (iv) Is the organization listed in your governing document? | (v) Amount of monetary support (see instructions) | (vi) Amount of other support (see instructions) | |
|---|---|---|---|---|---|---|
| Yes | No | |||||
|
Total |
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Calendar year (or fiscal year beginning in) ![]() |
(a) 2014 | (b) 2015 | (c) 2016 | (d) 2017 | (e) 2018 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") .. | 3,468,019 | 3,997,232 | 8,152,257 | 7,355,039 | 6,409,793 | 29,382,340 |
| 2 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.... | ||||||
| 3 | The value of services or facilities furnished by a governmental unit to the organization without charge.. | ||||||
| 4 | Total. Add lines 1 through 3 | 3,468,019 | 3,997,232 | 8,152,257 | 7,355,039 | 6,409,793 | 29,382,340 |
| 5 | The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f).. | ||||||
| 6 | Public support. Subtract line 5 from line 4. | 29,382,340 | |||||
Calendar year
(or fiscal year beginning in) ![]() |
(a) 2014 | (b) 2015 | (c) 2016 | (d) 2017 | (e) 2018 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 7 | Amounts from line 4.. | 3,468,019 | 3,997,232 | 8,152,257 | 7,355,039 | 6,409,793 | 29,382,340 |
| 8 | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... | 81,307 | 81,218 | 77,663 | 80,630 | 55,089 | 375,907 |
| 9 | Net income from unrelated business activities, whether or not the business is regularly carried on.. | ||||||
| 10 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. | 2,772,530 | 22,309 | 2,794,839 | |||
| 11 | Total support. Add lines 7 through 10 | 32,553,086 | |||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2014 | (b) 2015 | (c) 2016 | (d) 2017 | (e) 2018 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 1 | Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") . | ||||||
| 2 | Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | ||||||
| 3 | Gross receipts from activities that are not an unrelated trade or business under section 513 ..... | ||||||
| 4 | Tax revenues levied for the organization's benefit and either paid to or expended on its behalf... | ||||||
| 5 | The value of services or facilities furnished by a governmental unit to the organization without charge | ||||||
| 6 | Total. Add lines 1 through 5 | ||||||
| 7a | Amounts included on lines 1, 2, and 3 received from disqualified persons | ||||||
| b | Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year. | ||||||
| c | Add lines 7a and 7b.. | ||||||
| 8 | Public support. (Subtract line 7c from line 6.) | ||||||
Calendar year (or fiscal year beginning in) ![]() |
(a) 2014 | (b) 2015 | (c) 2016 | (d) 2017 | (e) 2018 | (f) Total | |
|---|---|---|---|---|---|---|---|
| 9 | Amounts from line 6... | ||||||
| 10a | Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources.. | ||||||
| b | Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975. | ||||||
| c | Add lines 10a and 10b. | ||||||
| 11 | Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on. | ||||||
| 12 | Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) .. | ||||||
| 13 | Total support. (Add lines 9, 10c, 11, and 12.).. | ||||||
| Section A - Adjusted Net Income | (A) Prior Year |
(B) Current Year (optional) |
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| 1 | Net short-term capital gain | 1 | ||||
| 2 | Recoveries of prior-year distributions | 2 | ||||
| 3 | Other gross income (see instructions) | 3 | ||||
| 4 | Add lines 1 through 3 | 4 | ||||
| 5 | Depreciation and depletion | 5 | ||||
| 6 | Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) | 6 | ||||
| 7 | Other expenses (see instructions) | 7 | ||||
| 8 | Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) | 8 | ||||
| Section B - Minimum Asset Amount | (A) Prior Year |
(B) Current Year (optional) |
||||
| 1 | Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): | 1 | ||||
| a | Average monthly value of securities | 1a | ||||
| b | Average monthly cash balances | 1b | ||||
| c | Fair market value of other non-exempt-use assets | 1c | ||||
| d | Total (add lines 1a, 1b, and 1c) | 1d | ||||
| e |
Discount claimed for blockage or other factors (explain in detail in Part VI): |
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| 2 | Acquisition indebtedness applicable to non-exempt use assets | 2 | ||||
| 3 | Subtract line 2 from line 1d | 3 | ||||
| 4 | Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions). | 4 | ||||
| 5 | Net value of non-exempt-use assets (subtract line 4 from line 3) | 5 | ||||
| 6 | Multiply line 5 by .035 | 6 | ||||
| 7 | Recoveries of prior-year distributions | 7 | ||||
| 8 | Minimum Asset Amount (add line 7 to line 6) | 8 | ||||
| Section C - Distributable Amount | Current Year | |||||
| 1 | Adjusted net income for prior year (from Section A, line 8, Column A) | 1 | ||||
| 2 | Enter 85% of line 1 | 2 | ||||
| 3 | Minimum asset amount for prior year (from Section B, line 8, Column A) | 3 | ||||
| 4 | Enter greater of line 2 or line 3 | 4 | ||||
| 5 | Income tax imposed in prior year | 5 | ||||
| 6 | Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) | 6 | ||||
| Section D - Distributions | Current Year | |
|---|---|---|
| 1 Amounts paid to supported organizations to accomplish exempt purposes | ||
|
2
Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity |
||
| 3 Administrative expenses paid to accomplish exempt purposes of supported organizations | ||
| 4 Amounts paid to acquire exempt-use assets | ||
| 5 Qualified set-aside amounts (prior IRS approval required) | ||
| 6 Other distributions (describe in Part VI). See instructions | ||
| 7Total annual distributions. Add lines 1 through 6. | ||
|
8
Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions |
||
| 9 Distributable amount for 2018 from Section C, line 6 | ||
| 10 Line 8 amount divided by Line 9 amount | ||
| Section E - Distribution Allocations (see instructions) |
(i) Excess Distributions |
(ii) Underdistributions Pre-2018 |
(iii) Distributable Amount for 2018 |
|
|---|---|---|---|---|
|
1
Distributable amount for 2018 from Section C, line 6 |
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|
2
Underdistributions, if any, for years prior to 2018 (reasonable cause required-- explain in Part VI). See instructions. |
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| 3 Excess distributions carryover, if any, to 2018: | ||||
| a From 2013....... | ||||
| b From 2014....... | ||||
| c From 2015....... | ||||
| d From 2016....... | ||||
| e From 2017....... | ||||
| fTotal of lines 3a through e | ||||
| g Applied to underdistributions of prior years | ||||
| h Applied to 2018 distributable amount | ||||
|
i
Carryover from 2013 not applied (see instructions) |
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| j Remainder. Subtract lines 3g, 3h, and 3i from 3f. | ||||
| 4Distributions for 2018 from Section D, line 7: | ||||
| $ | ||||
| a Applied to underdistributions of prior years | ||||
| b Applied to 2018 distributable amount | ||||
| c Remainder. Subtract lines 4a and 4b from 4. | ||||
|
5
Remaining underdistributions for years prior to 2018, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions. |
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|
6
Remaining underdistributions for 2018. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions. |
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|
7 Excess distributions carryover to 2019. Add lines 3j and 4c. |
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| 8 Breakdown of line 7: | ||||
| a Excess from 2014...... | ||||
| b Excess from 2015..... | ||||
| c Excess from 2016..... | ||||
| d Excess from 2017..... | ||||
| e Excess from 2018..... | ||||
| Facts And Circumstances Test |
|---|
| Return Reference | Explanation |
|---|---|
| PART II, LINE 10 | OTHER NON-INVESTMENT EXEMPT INCOME 2,794,839 |
| Software ID: | |
| Software Version: |
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | HOMESIGHT CREATES AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES THROUGH ITS HOMEBUYER EDUCATION AND LENDING, AND REAL ESTATE DEVELOPMENT PROGRAMS. THESE PROGRAMS PRIMARILY SERVE LOW AND MODERATE INCOME, FIRST-TIME HOMEBUYERS IN SEATTLE, KING, PIERCE, AND SNOHOMISH COUNTIES. HOMESIGHT IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, CERTIFIED BY THE US DEPARTMENT OF TREASURY, AND IS A WASHINGTON STATE LICENSED CONSUMER LOAN COMPANY |
| FORM 990, PAGE 2, PART III, LINE 4A | REAL ESTATE DEVELOPMENT: PART OF HOMESIGHT'S STRATEGY IS TO USE AFFORDABLE COMMERCIAL AND RESIDENTIAL REAL ESTATE DEVELOPMENT TO STIMULATE ECONOMIC GROWTH IN COMMUNITIES WHERE EQUITABLE INVESTMENT IS LAGGING AND BUILD HOUSEHOLD ASSETS FOR LOW INCOME AND FIRST-TIME HOME BUYERS. HOMESIGHT DEVELOPMENT ALSO PROVIDES PROJECT MANAGEMENT SERVICES TO COMMUNITY NONPROFIT ORGANIZATIONS TO ASSIST IN COMMUNITY DEVELOPMENT AND NEIGHBORHOOD REVITALIZATION ACTIVITIES. HOMESIGHT CONTINUES TO MANAGE THE REHAB AND REPLACEMENT OF MOBILE HOMES IN A LOW-INCOME SENIOR COMMUNITY IN PARTNERSHIP WITH THE HOUSING AUTHORITY OF SNOHOMISH COUNTY. HOMESIGHT HAD CONTINUED ITS PARTNERSHIP WITH THE KING COUNTY HOUSING AUTHORITY IN 2017, MANAGING THE CONSTRUCTION OF 5 SINGLE FAMILY HOMES IN THE GREENBRIDGE COMMUNITY UNTIL THE PROJECT WAS PUT ON HOLD AND CANCELLED IN EARLY 2018. WITH THE ASSISTANCE OF SEVERAL COMMUNITY-LED COALITIONS ACTIVELY INVOLVED IN EQUITABLE DEVELOPMENT IN SOUTHEAST SEATTLE, HOMESIGHT HAS BEEN LEADING A DEDICATED AND ROBUST COMMUNITY ENGAGEMENT PROCESS THROUGHOUT THE PROGRAM PLANNING TO ENSURE THAT THE OTHELLO SQUARE BEST MEETS THE NEEDS AND VISION OF THE COMMUNITY. DURING 2018 HOMESIGHT SIGNED FOUR PURCHASE AND SALE AGREEMENTS (PSAS) ON PROPERTIES FOR THE OTHELLO SQUARE PROJECT WITH THE SEATTLE HOUSING AUTHORITY (SHA). HOMESIGHT ALSO ENTERED INTO ASSIGNMENT AGREEMENTS FOR TWO OF THE PROPERTIES TO BE OWNED AND DEVELOPED AS PART OF THE PROJECT BY TWO LOCAL ORGANIZATIONS BREAKING GROUND IN 2019. PROPERTY PURCHASES FOR THE REMAINING TWO PSAS WILL BE FINALIZED ONCE ALL CLOSING CONDITIONS ARE MET. |
| FORM 990, PAGE 2, PART III, LINE 4B | HOMEBUYER SERVICES & LENDING: HOMESIGHT'S HOMEBUYER EDUCATION AND COUNSELING PROGRAM SERVES OVER 1,000 HOUSEHOLDS ANNUALLY, INCLUDING NEW AND EXISTING CUSTOMERS. IN 2018 AND 2017, OF THESE CUSTOMERS, 71% AND 75%, RESPECTIVELY WERE AT OR BELOW 80 PERCENT OF THE AREA MEDIAN INCOME. HOMESIGHT'S MISSION IS TO SERVE PRIMARILY LOW AND MODERATE INCOME FAMILIES WISHING TO PURCHASE THEIR FIRST HOME, BUT AS A HUD-CERTIFIED HOUSING COUNSELING AGENCY, IT CANNOT DISCRIMINATE BASED ON INCOME. ITS HOMEBUYER PROGRAM CONSISTS OF ONE-ONONE COUNSELING, AND NO-COST CLASSES ON ACHIEVING THE DREAM OF HOMEOWNERSHIP, OR AN ONLINE BUYER EDUCATION CURRICULUM FOR A NOMINAL FEE. -- HOMESIGHT DEVELOPED THE PUGET SOUND REVOLVING LOAN FUND IN 2003 TO ADDRESS LIMITED ASSISTANCE LOAN RESOURCES AND THE GROWING GAP BETWEEN FAMILY INCOMES AND HOME PRICES. IT OFFERS 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 ELIMINATE THE REQUIREMENT FOR PRIVATE MORTGAGE INSURANCE FOR ITS CLIENTS, AND INCREASE THE BUYING POWER OF LOW AND MODERATE INCOME FIRST-TIME HOMEBUYERS. HOMESIGHT'S FIRST-TIME HOMEBUYER EDUCATION AND LENDING PROGRAMS CREATED 202 AND 106 FIRST-TIME HOMEBUYERS IN THIS MARKET IN 2017 AND 2016, RESPECTIVELY. DURING 2017, THE REVOLVING LOAN FUND WAS EXTENDED STATE-WIDE WITH LOANS IN PIERCE, KING, SNOHOMISH, WHATCOM, KITSAP COUNTIES AND SPOKANE THROUGH ITS PURCHASE PROGRAM FOR FIRST MORTGAGE AND PROJECT REINVEST. -- HOMESIGHT IS A CORRESPONDENT 1ST MORTGAGE LENDER TO THE WASHINGTON HOUSING FINANCE COMMISSION AND A LOCAL COMMUNITY BANK. HOMESIGHT ORIGINATES LOANS WITH ITS CAPITAL PRIMARILY FOR SUBSEQUENT SALE TO THESE LENDERS. THROUGH THESE CHANNELS HOMESIGHT PROVIDES QUALITY, LOW-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 2016, HOMESIGHT BEGAN OFFERING A NEW LAYER OF FINANCING IN THE FORM OF FORGIVABLE DOWN PAYMENT ASSISTANCE LOANS WITH 4 MILLION AWARDED THROUGH THE NEIGHBORHOOD LIFT PROGRAM. THESE ARE LOANS OF UP TO 7,500 (INCREASED TO 20,000 AS OF MID-2018), FORGIVEN OVER THREE YEARS FOR BUYERS UP TO 100% OF MEDIAN INCOME IN KING COUNTY. DURING 2017 HOMESIGHT EXPANDED THIS PROGRAM INTO PIERCE AND SNOHOMISH COUNTIES. HOMESIGHT ANTICIPATES DISBURSING ALL LOAN FUNDS FROM THIS PROGRAM IN 2019. -- IN 2018, HOMESIGHT COMPLETED THE SIXTH YEAR OF THE WASHINGTON HOMEOWNERSHIP STABILITY FUND IN PARTNERSHIP WITH THE WASHINGTON STATE HOUSING FINANCE COMMISSION. WITH 5.4 MILLION IN CAPITAL FROM THE WASHINGTON ATTORNEY GENERALS NATIONAL MORTGAGE SETTLEMENT THIS PROGRAM PROVIDES CRITICALLY NEEDED EMERGENCY LOANS TO HOMEBUYERS FACING FORECLOSURE. -- HOMESIGHT PROVIDES RESCUE LOANS TO BORROWERS WHO ARE CAPABLE OF SUSTAINING HOMEOWNERSHIP IF THEIR LOANS CAN BE REINSTATED BEFORE THE FORECLOSURE. TYPICALLY, THESE ARE DEFERRED LOANS, WITH INTEREST RATES RANGING FROM 0% TO 2% INTEREST, DEPENDING ON THE INCOME. |
| FORM 990, PAGE 2, PART III, LINE 4C | COMMUNITY DEVELOPMENT: WITH A HISTORY OF CROSS-SECTOR COLLABORATION, EXPERTISE IN POLICY AND ADVOCACY, AND A TRACK RECORD OF EQUITABLE DEVELOPMENT, HOMESIGHT IS RECOGNIZED AS A CATALYTIC COMMUNITY LEADER. FOR OVER 25 YEARS, HOMESIGHT HAS FACILITATED BEAUTIFICATION AND INFRASTRUCTURE IMPROVEMENT PROJECTS, MANAGED THE DEVELOPMENT OF CULTURAL CENTERS, SUPPORTED LOCAL BUSINESS ORGANIZATIONS, AND LED COALITIONS PROMOTING EQUITABLE GROWTH IN SOUTHEAST SEATTLE, THE CITYS MOST RACIALLY AND ETHNICALLY DIVERSE COMMUNITY. HOMESIGHT RECENTLY ESTABLISHED THREE NEW COMMUNITY DEVELOPMENT ACTIVITIES: 1) OTHELLO SQUARE COMMUNITY STEERING GROUP (FORMERLY SOUTHEAST ECONOMIC OPPORTUNITY CENTER (SEOC)) A GROUP OF RESIDENTS, BUSINESS OWNERS, AND OTHER STAKEHOLDERS UNITED TO ENSURE THAT THE OTHELLO SQUARE REFLECTS THE COMMUNITYS NEED FOR A CULTURALLY RELEVANT DEVELOPMENT THAT PRIORITIZES EQUITABLE ACCESS TO HOUSING, EDUCATION AND EMPLOYMENT; 2) COMMUNITIES OF OPPORTUNITYA MULTI-YEAR PLANNING EFFORT WITH MORE THAN 30 COMMUNITY BASED PARTNERS, FUNDED BY THE SEATTLE FOUNDATION, TO IDENTIFY POLICY AND SYSTEMS SOLUTIONS TO IMPROVE HEALTH, HOUSING, AND ECONOMIC OPPORTUNITY, AND COMMUNITY CONNECTIONS IN SOUTHEAST SEATTLE; 3) OTHELLO FARM STAND A UNIQUE PLACE-MAKING PROJECT TRANSFORMING A LOT THAT HAS BEEN VACANT FOR OVER 10 YEARS INTO A COMMUNITY GATHERING SPACE WHICH PROMOTES ENVIRONMENTAL AND NUTRITIONAL EDUCATION THROUGH SUPPORT OF LOCAL FARMERS AND MAKERS. |
| FORM 990, PAGE 6, PART VI, LINE 11B | THE DRAFT FORM 990 IS PROVIDED TO ALL MEMBERS OF THE EXECUTIVE BOARD FOR REVIEW PRIOR TO FILING. IF TIMING ALLOWS, QUESTIONS MAY BE RAISED AT A BOARD MEETING PRIOR TO FILING; IF NOT, THE CFO IS AVAILABLE TO ANSWER ANY AND ALL QUESTIONS. |
| FORM 990, PAGE 6, PART VI, LINE 12C | THE BOARD AND EMPLOYEES COMPLETE A CONFLICTS OF INTEREST STATEMENT ANNUALLY. |
| FORM 990, PAGE 6, PART VI, LINE 15A | THE BOARD PERIODICALLY REVIEWS THE TOP OFFICIAL'S COMPENSATION USING SURVEY DATA TO MAKE MODIFICATIONS AS NECESSARY. |
| FORM 990, PAGE 6, PART VI, LINE 15B | THE MANAGEMENT TEAM PERIODICALLY REVIEWS THE TOP OFFICIAL'S COMPENSATION USING SURVEY DATA TO MAKE MODIFICATIONS AS NECESSARY, AND BUDGETED SALARIES ARE SUBJECT TO BOARD APPROVAL. |
| FORM 990, PAGE 6, PART VI, LINE 19 | THE FINANCIAL STATEMENTS ARE INCLUDED IN HOMESIGHT'S ANNUAL REPORT THAT IS AVAILABLE TO THE PUBLIC. OTHER GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. |
| Software ID: | |
| Software Version: |