2024-11-14T12:32:38-06:00 2023-12-31 943108253 NOVOGRADAC & COMPANY LLP PO BOX 7833 SAN FRANCISCO CA 941207833 990 2023-01-01 911116960 BELLWETHER HOUSING BELL 2066230506 433 MINOR AVENUE NORTH SEATTLE WA 98109 JENNIFER NGUYEN CHIEF FINANCIAL OFFICER 2066230506 2024-11-13 1 0 MELISSA CHUNG P01800871 4153568000 2023 2024-10-15 13:58:12Z SUSAN BOYD 433 MINOR AVENUE NORTH SEATTLE WA 98109 49904495 0 X WWW.BELLWETHERHOUSING.ORG X 1980 WA FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:WE ENVISION DIVERSE COMMUNITIES WHERE PEOPLE OF ALL INCOMES AND BACKGROUNDS SHARE THE OPPORTUNITY AND PROSPERITY OF OUR REGION. BELLWETHER HOUSING CREATES STABLE COMMUNITIES AND ACCESS TO OPPORTUNITY THROUGH AFFORDABLE HOUSING. WE DEVELOP AND MANAGE HOMES FOR PEOPLE WITH LIMITED INCOMES NEAR JOB CENTERS, TRANSIT, AND SERVICES. WE AMPLIFY OUR IMPACT BY HELPING OTHER ORGANIZATIONS IN THE PUGET SOUND REGION DO THE SAME. 18 18 247 0 0 0 6919728 7940988 39533018 40844870 953009 1118637 -72708 -114510 47333047 49789985 0 0 0 0 15001536 14908526 0 0 464194 31464839 39216955 46466375 54125481 866672 -4335496 381603055 394705233 269084897 279979236 112518158 114725997 X SEE SCHEDULE O 0 0 SEE SCHEDULE O 44035465 29111043 SEE SCHEDULE O 2265568 7505820 SEE SCHEDULE O 566392 6763092 BELLWETHER HOUSING PROVIDES FEE-BASED TECHNICAL ASSISTANCE TO HELP OTHER NON-PROFITS CREATE AFFORDABLE HOUSING FOR THEIR RESPECTIVE MARKETS. SERVICES INCLUDE CONSULTING IN THE AREAS OF DEVELOPMENT, PROPERTY MANAGEMENT AND ASSET MANAGEMENT. ADDITIONALLY, BELLWETHER PROVIDES FEE-BASED OPERATIONAL MANAGEMENT SERVICES TO ITS LIHTC PARTNERS IN THE BUILDING AND DELIVERY OF AFFORDABLE HOUSING. 566392 6763092 46867425 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 64 0 1 247 1 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WA X X JENNIFER NGUYEN CHIEF FINANCIAL OFFICER 2066230506 433 MINOR AVE N SEATTLE WA 98109 DEVA HASSON IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 KATE JONCAS CHAIR 1.00 X X 0 0 0 CARLA DEWBERRY DIRECTOR, TREASURER, FINANCE AND AUDIT CHAIR 1.00 X X 0 0 0 REBEKAH BASTIAN DIRECTOR AND SECRETARY 1.00 X X 0 0 0 SHELLY CROCKER DIRECTOR AND REAL ESTATE DEVELOPMENT CHAIR 1.00 X 0 0 0 PETER LARSEN VICE CHAIR 1.00 X X 0 0 0 PETE MILLER DIRECTOR 1.00 X 0 0 0 ALEX HUDSON DIRECTOR AND GOVERNANCE CHAIR 1.00 X 0 0 0 JOHN BLISS DIRECTOR 1.00 X 0 0 0 GREGG COLBURN DIRECTOR 1.00 X 0 0 0 BRADLEY KARVASEK DIRECTOR 1.00 X 0 0 0 NAVNEET KESHER DIRECTOR AND FUND DEVELOPMENT CHAIR 1.00 X 0 0 0 KATEESHA ATTERBERRY DIRECTOR 1.00 X 0 0 0 JILMA JIMENEZ DIRECTOR 1.00 X 0 0 0 MICHELLE CHEN DIRECTOR 1.00 X 0 0 0 REZA MARASHI DIRECTOR 1.00 X 0 0 0 ANTOINE TOUSSAINT DIRECTOR 1.00 X 0 0 0 MIKE WOO DIRECTOR 1.00 X 0 0 0 SUSAN BOYD CHIEF EXECUTIVE OFFICER 40.00 X 302215 0 31856 MICHELLE HAWLEY VICE PRESIDENT OF PROPERTY OPERATIONS 40.00 X 184401 0 30350 JENNIFER NGUYEN CHIEF FINANCIAL OFFICER 40.00 X 99231 0 28247 JOVAN LUDOVICE VICE PRESIDENT OF REAL ESTATE DEVELOPMENT 40.00 X 182082 0 31313 MELISSA TUTOR VICE PRESIDENT OF HUMAN RESOURCES 40.00 X 11538 0 840 AMY BESUNDER DIRECTOR OF FUND DEVELOPMENT & COMMUNICATIONS 40.00 X 166481 0 18322 PAUL RAMIREZ DIRECTOR OF FACILITIES MAN 40.00 X 166158 0 13384 JACOB GELB DIRECTOR OF ASSET MANAGEMENT 40.00 X 156000 0 35953 JEFF CRAIG DIRECTOR OF INFORMATION TECHNOLOGY 40.00 X 147516 0 28444 LACHLAN FOSS ASSOCIATE DIRECTOR OF CONSTRUCTION MANAGEMENT 40.00 X 144277 0 27811 YVETTE WATKINS DIRECTOR OF PROPERTY MANAGEMENT 40.00 X 138323 0 24559 MINDY BLACK SENIOR HOUSING DEVELOPER 40.00 X 138274 0 15825 RACHAEL SIMPSON SENIOR COMPLIANCE & LEASING MANAGER 40.00 X 135295 0 17472 CODY MCCALL CONTROLLER 40.00 X 119382 0 23209 TONY SOUTHER SENIOR ASSET MANAGER 40.00 X 112073 0 9853 JIM HAWLEY SENIOR MAINTENANCE MANAGER 40.00 X 105660 0 13635 2308906 0 351073 26 1 1 0 BUCHANAN GENERAL CONTRACTING 2200 112TH AVE NE STE 160 BELLEVUE WA 98004 CONSTRUCTION SERVICES 3328659 WEBER THOMPSON 900 N 34TH ST SUITE 200 SEATTLE WA 98103 ARCHITECTURE SERVICES 1183917 RAFN COMPANY 1721 132ND AVE NE BELLEVUE WA 980052224 CONSTRUCTION SERVICES 989718 ROBERT HALF MANAGEMENT RESOURCES PO BOX 743295 LOS ANGELES CA 900743295 TEMPORARY STAFFING 772285 CHARTER CONSTRUCTION INC 980 S HARNEY ST SEATTLE WA 98108 CONSTRUCTION SERVICES 654359 29 555900 5627396 1757692 7940988 RENTAL OPERATIONS 531310 23483647 23483647 DEVELOPMENT FEES 531310 6763092 6763092 PROPERTY MANAGEMENT 531310 2707925 2707925 INTEREST ON ADVANCES 531310 2486946 2486946 CONSULTING FEES 531310 605365 605365 4797895 4797895 40844870 1118637 1118637 0 441390 114510 -114510 -114510 49789985 40844870 0 1004127 1268106 942522 220446 105138 10782715 7640798 3032256 109661 1810085 1288809 494679 26597 1047620 794488 235553 17579 1230659 870549 346922 13188 76851 59728 17123 135408 97290 38118 43076 31842 6735 4499 1458338 1031605 411105 15628 14146010 13111717 998593 35700 288946 102343 73678 112925 8672010 8421358 250652 595511 590148 5363 7489500 7103609 385891 843038 819781 23257 PROGRAM EXPENSES 1379952 1357979 2304 19669 OTHER MISC EXPENSES 1337018 1313873 23145 0 WRITE-OFFS 1183762 1050685 133077 0 LICENSES & FEES 336876 238301 94965 3610 54125481 46867425 6793862 464194 2034947 2973300 435578 205039 3518458 6021814 98869916 104731804 6393534 8673518 302696493 71970308 231028319 230726185 37648797 37695837 1673506 3677736 381603055 394705233 2794096 3503812 555300 515300 257098372 264056384 8637129 11903740 269084897 279979236 X 112007578 114368274 510580 357723 112518158 114725997 381603055 394705233 X -4335496 -2229408 11790725 -3017982 X X 0 1 X 1 0 X 5824094 15397920 7590583 6919728 7826478 43558803 5824094 15397920 7590583 6919728 7826478 43558803 43558803 1242228 1114904 1238819 953009 1118637 5667597 49226400 75576967 0.88490 0.89020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 25698 0 0 25698 0 PART II-B, LINE 1: LOBBYING EXPENSES WERE TO INFLUENCE CITY GOVERNMENT ON ZONING ISSUES, DEVELOPER FEES, AND TAX ISSUES FOR THE BENEFIT OF LOW WAGE EARNING HOUSEHOLDS. 34057989 34057989 268638504 71970308 196668196 230726185 BUILDING RESERVES 14341778 C ADMINISTRATIVE OPERATING RESERVES -2922711 C POOLED REPLACEMENT RESERVES 3118232 C IMPACT INVESTMENT RESERVE 1258524 C OPPORTUNITY FUND 21900014 C 37695837 TENANT SECURITY DEPOSITS 915278 DEFERRED INTEREST PAYABLE 9163136 SHORT-TERM NOTES AND ADVANCES 1825326 11903740 X PART X, LINE 2: BELLWETHER HOUSING IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAS BEEN CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. INCOME TAXES ON PARTNERSHIP AND LLC INCOME ARE LEVIED ON THE PARTNERS AND MEMBERS IN THEIR INDIVIDUAL CAPACITY. ACCORDINGLY, ALL PROFITS AND LOSSES OF THE PARTNERSHIPS AND LLCS ARE RECOGNIZED BY EACH PARTNER AND MEMBER ON ITS RESPECTIVE TAX RETURN. PART VIII, LINE 3, INVESTMENTS PROGRAM RELATED: ADMINISTRATIVE OPERATING RESERVE THE ADMINISTRATIVE OPERATING RESERVE WAS ESTABLISHED TO SUPPORT SHORT-TERM DEFICITS IN THE EVENT OF UNFORESEEN CIRCUMSTANCES. BELLWETHER HAS SET AN INTERNAL TARGET OF 4 TO 6 MONTHS OF OPERATING EXPENDITURES. PART VIII, LINE 4, INVESTMENTS PROGRAM RELATED: POOLED REPLACEMENT RESERVES THE POOLED REPLACEMENT RESERVE FUND WAS ESTABLISHED TO SUPPLEMENT THE REQUIRED REPLACEMENT RESERVES HELD BY EACH BUILDING. THE POOLED REPLACEMENT RESERVE SHALL BE USED WHEN THE REQUIRED BUILDING LEVEL RESERVES ARE INSUFFICIENT TO COVER EMERGENT REPAIRS AND REPLACEMENT NEEDS. PART VIII, LINE 6, INVESTMENTS PROGRAM RELATED: IMPACT INVESTMENT RESERVES THE IMPACT INVESTMENT RESERVES SERVE AS AN INTERNAL 'DEBT SINKING FUND' TO SUPPORT THOSE PRIVATE INVESTOR LOANS MADE TO THE ORGANIZATION AT THEIR MATURITY DATE; PROVIDED THOSE LOANS ARE NOT REFINANCED. PART VIII, LINE 7, INVESTMENTS PROGRAM RELATED: OPPORTUNITY FUND THE OPPORTUNITY FUND SERVES TO PROVIDE LEVERAGE TO STRENGTHEN BELLWETHER'S ABILITY TO BORROW CAPITAL FROM THIRD PARTIES THAT WOULD FURTHER THE MISSION OF BELLWETHER HOUSING. PROVIDED THAT BELLWETHER'S LIQUIDITY REMAINS SUFFICIENT TO MAINTAIN ITS DESIRED BORROWING CAPACITY, THE CEO MAY DETERMINE THAT AN EFFECTIVE USE OF THIS FUND MAY BE TO PROVIDE SHORT, MID, OR LONG-TERM FINANCING OF ACQUISITION AND DEVELOPMENT COSTS THAT SUPPORT THE CREATION OF AFFORDABLE HOUSING. FUNDRAISING LUNCHEON 441390 441390 10302 43196 43807 17205 441390 441390 10302 43196 43807 17205 114510 -114510 X X 0 0 0 0 0 0 0 0 0 SUSAN BOYD CHIEF EXECUTIVE OFFICER 302215 0 0 0 0 0 13111 0 18745 0 334071 0 0 0 MICHELLE HAWLEY VICE PRESIDENT OF PROPERTY OPERATION 184401 0 0 0 0 0 7488 0 22862 0 214751 0 0 0 JOVAN LUDOVICE VICE PRESIDENT OF REAL ESTATE DEVELO 182082 0 0 0 0 0 12025 0 19288 0 213395 0 0 0 JACOB GELB DIRECTOR OF ASSET MANAGEMENT 156000 0 0 0 0 0 11255 0 24698 0 191953 0 0 0 AMY BESUNDER DIRECTOR OF FUND DEVELOPMENT & COMMU 166481 0 0 0 0 0 5728 0 12594 0 184803 0 0 0 PAUL RAMIREZ DIRECTOR OF FACILITIES MAN 166158 0 0 0 0 0 1649 0 11735 0 179542 0 0 0 JEFF CRAIG DIRECTOR OF INFORMATION TECHNOLOGY 147516 0 0 0 0 0 16739 0 11705 0 175960 0 0 0 LACHLAN FOSS ASSOCIATE DIRECTOR OF CONSTRUCTION M 144277 0 0 0 0 0 16148 0 11663 0 172088 0 0 0 YVETTE WATKINS DIRECTOR OF PROPERTY MANAGEMENT 138323 0 0 0 0 0 5491 0 19068 0 162882 0 0 0 MINDY BLACK SENIOR HOUSING DEVELOPER 138274 0 0 0 0 0 4256 0 11569 0 154099 0 0 0 RACHAEL SIMPSON SENIOR COMPLIANCE & LEASING MANAGER 135295 0 0 0 0 0 6410 0 11062 0 152767 0 0 0 CODY MCCALL CONTROLLER 119382 0 0 0 0 0 14356 0 8853 0 142591 0 0 0 TONY SOUTHER SENIOR ASSET MANAGER 112073 0 0 0 0 0 9139 0 714 0 121926 0 0 0 JIM HAWLEY SENIOR MAINTENANCE MANAGER 105660 0 0 0 0 0 3847 0 9788 0 119295 0 0 0 A SEATTLE HOUSING AUTHORITY 916000977 2005-07-28 8900000 STONE WAY LOW INCOME HOUSING 0 0 0 B SEATTLE HOUSING AUTHORITY 916000977 2006-02-08 5802901 STEWART COURT LOW INCOME HOUSING 0 0 0 C WASHINGTON STATE HOUSING FINANCE COMMISSION 911874730 2018-09-12 7000000 VIEWS AT MADISON LOW INCOME HOUSING 0 0 0 D SEATTLE HOUSING AUTHORITY 916000977 2004-12-21 4600000 GENESEE LOW INCOME HOUSING 0 0 0 A 8900000 0 0 1 1 B 5802901 1 0 1 1 C 4000000 120338 6879662 0 0 1 1 D 4600000 0 0 1 1 A 1 0 0 0 0 0 0 B 1 0 0 0 0 0 0 C 1 0 0 0 0 0 0 D 1 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 0 0 0 0 0 0 0 D 0 0 0 0 0 0 0 0 0 A 0 B 0 C 0 A SEATTLE HOUSING AUTHORITY 916000977 2007-02-01 2800000 OLIVE TOWER LOW INCOME HOUSING 0 0 0 B SEATTLE HOUSING AUTHORITY 916000977 2007-10-01 2640000 OREGON LOW INCOME HOUSING 0 0 0 C SEATTLE HOUSING AUTHORITY 916000977 812636JP4 2007-11-07 4000000 CASA PACIFICA LOW INCOME HOUSING 0 0 0 A 2800000 70000 2730000 0 0 1 1 B 2640000 10000 2630000 0 0 1 1 C 4000000 80000 3920000 0 0 1 1 A 1 0 0 0 0 0 0 B 1 0 0 0 0 0 0 C 1 0 0 0 0 0 0 A 0 0 0 0 0 0 0 0 0 B 0 0 0 0 0 0 0 0 0 C 0 0 1 0 0 0 0 0 0 GABRIEL GRANT FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 20000 20000 0 1 1 JOSE J QUINTANA FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 1000 1000 0 1 1 BARTHOLOMEW CIMA FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 5000 5000 0 1 1 TIMOTHY E OVERLAND FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 3000 3000 0 1 1 CUP OF TEA LLC THIS IS A FAMILY LLC MANAGED BY DEVA HASSON, BOARD MEMBER IMPACT INVESTOR NOTES X 10000 10000 0 1 1 TEJAL PASTAKIA FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 10000 10000 0 1 1 DONALD I KING FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 10000 10000 0 1 1 GABRIEL GRANT FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 25000 25000 0 1 1 BARBARA DINGFIELD FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 25000 25000 0 1 1 TOM MARTINEAU FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 10000 10000 0 1 1 CUP OF TEA LLC THIS IS A FAMILY LLC MANAGED BY DEVA HASSON, BOARD MEMBER IMPACT INVESTOR NOTES X 10000 10000 0 1 1 JOHN F BLISS BOARD MEMBER IMPACT INVESTOR NOTES X 25000 25000 0 1 1 MARLYS ERICKSON FORMER CONTRACT EMPLOYEE IMPACT INVESTOR NOTES X 25000 25000 0 1 1 JOHN WOODWORTH (FORMERLY SMR ARCHITECTS) VENDOR IMPACT INVESTOR NOTES X 25000 25000 0 1 1 ROBERT DIPIETRAE FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 10000 10000 0 1 1 VIRGINIA ANDERSON FORMER EXECUTIVE DIRECTOR IMPACT INVESTOR NOTES X 25000 25000 0 1 1 MARNI WRIGHT FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 5000 5000 0 1 1 BART CIMA FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 5000 5000 0 1 1 KIMBERLY ORR FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 5000 5000 0 1 1 QUENTIN KUHRAU FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 50000 50000 0 1 1 JOSE QUINTANA FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 5000 5000 0 1 1 HARRY MATSUMOTO FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 5000 5000 0 1 1 ALLISON BOLGIANO FORMER BWH STAFF MEMBER IMPACT INVESTOR NOTES X 500 500 0 1 1 AMY BESUNDER BWH STAFF MEMBER IMPACT INVESTOR NOTES X 3000 3000 0 1 1 BARBARA J DINGFIELD FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 25000 25000 0 1 1 BART CIMA FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 10000 10000 0 1 1 BESTY HUMES BWH STAFF MEMBER'S RELATIVE IMPACT INVESTOR NOTES X 10000 10000 0 1 1 CLAIRE MAGULA BWH STAFF MEMBER IMPACT INVESTOR NOTES X 2500 2500 0 1 1 DEVA HASSON BOARD MEMBER IMPACT INVESTOR NOTES X 10000 10000 0 1 1 GABE GRANT FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 25000 25000 0 1 1 JACOB GELB BWH STAFF MEMBER IMPACT INVESTOR NOTES X 2000 2000 0 1 1 JAMES MAGULA BWH STAFF MEMBER'S FATHER IMPACT INVESTOR NOTES X 8000 8000 0 1 1 JOHN BLISS BWH BOARD MEMBER IMPACT INVESTOR NOTES X 50000 50000 0 1 1 KULJIT KAUR FORMER BWH STAFF MEMBER IMPACT INVESTOR NOTES X 10000 10000 0 1 1 PETER ORSER BWH FORMER BOARD MEMBER IMPACT INVESTOR NOTES X 25000 25000 0 1 1 SAMANTHA HILL BWH STAFF MEMBER IMPACT INVESTOR NOTES X 500 500 0 1 1 SHELLY CROCKER BWH BOARD MEMBER IMPACT INVESTOR NOTES X 5000 5000 0 1 1 SUSAN BOYD CEO IMPACT INVESTOR NOTES X 10000 10000 0 1 1 SUSAN SELMAN BWH STAFF MEMBER IMPACT INVESTOR NOTES X 4800 4800 0 1 1 515300 FORM 990, PART III, LINE 4B, PROGRAM SERVICES - WHOLLY OWNED: AS PART OF ITS REAL ESTATE PORTFOLIO BELLWETHER HAS SOLE OWNERSHIP OF 27 BUILDINGS IN THE PUGET SOUND AREA PROVIDING 1,858 AFFORDABLE HOUSING UNITS. WE CREATE AND MAINTAIN OUTSTANDING HOMES AND CONNECT RESIDENTS IN NEED OF SUPPORT TO ORGANIZATIONS THAT CAN HELP THEM LEAD HEALTHY AND INDEPENDENT LIVES. FORM 990, PART III, LINE 4C, PROGRAM SERVICES - TAX CREDIT PARTNERSHIPS: BELLWETHER HOUSING, THROUGH PARTNERSHIPS WITH SEVERAL LOW-INCOME HOUSING TAX CREDIT (LIHTC) PARTNERS, ALSO SHARES OWNERSHIP OF SEVERAL BUILDINGS THAT PROVIDE ADDITIONAL AFFORDABLE HOUSING UNITS. ON THESE JOINTLY OWNED BUILDINGS, BELLWETHER IS RESPONSIBLE FOR REFURBISHMENT OF UNITS, CONSTRUCTION OF NEW UNITS AND MANAGEMENT OF ALL BUILDINGS. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: BELLWETHER HOUSING IS THE LARGEST NONPROFIT PROVIDER OF AFFORDABLE HOUSING IN SEATTLE. WE OWN AND OPERATE 3,583 AFFORDABLE APARTMENTS IN 39 BUILDINGS IN SEATTLE PROVIDING FAMILIES AND SENIORS WITH SAFE, STABLE HOMES, AND BY DOING SO, WE BUILD STRONGER, SAFER, MORE PROSPEROUS COMMUNITIES. WE SERVE HOUSEHOLDS WITH ANNUAL INCOMES BETWEEN 0-60% OF THE AREA MEDIAN INCOME (THAT IS AN ANNUAL INCOME OF UP TO ROUGHLY $82,000 FOR A FAMILY OF FOUR). WE HOUSE OVER 6,000 RESIDENTS FOR WHOM MARKET-RATE HOUSING IS OUT OF REACH. WE LOCATE OUR HOMES NEAR TRANSIT, JOB CENTERS, SCHOOLS, AND COMMUNITY RESOURCES, OFFERING RESIDENTS ACCESS TO THE OPPORTUNITY AND PROSPERITY OF OUR REGION. MANY OF OUR RESIDENTS INCLUDE FAMILIES EXITING HOMELESSNESS, INDEPENDENT SENIORS, IMMIGRANTS SEEKING OPPORTUNITY, WORKERS EARNING MODEST WAGES, AND YOUNG PEOPLE JUST STARTING OUT. WE BELIEVE EVERYONE SHOULD LIVE IN A HOME THEY FEEL GOOD ABOUT. ACCORDINGLY, OUR STAFF TAKE PRIDE IN KEEPING OUR BUILDINGS CLEAN, SAFE, AND WELL-MAINTAINED. BELLWETHER'S RESIDENT SERVICE COORDINATORS CONNECT RESIDENTS TO LOCAL SERVICES AND BENEFITS THAT CAN SUPPORT THEM IN ACHIEVING STABLE, HEALTHY, AND INDEPENDENT LIVING. IN 2020, WE DEVELOPED AN AMBITIOUS FIVE-YEAR PLAN TO BUILD OR ACQUIRE 2,500 NEW AFFORDABLE APARTMENTS LOCATED NEAR JOBS, SCHOOLS, TRANSIT, AND SERVICES. TO DATE, WE HAVE PLACED 1,600 APARTMENTS INTO SERVICE AND HAVE 1,800 APARTMENTS EITHER PLANNED OR UNDER CONSTRUCTION. BELLWETHER HOUSING HAS FOUR CORE PROGRAMS. 1. DEVELOP AND MANAGE AFFORDABLE APARTMENTS. BELLWETHER MANAGES THE MAJORITY OF ITS BUILDINGS IN-HOUSE. WE PROACTIVELY PLAN FOR MAJOR PROJECTS TO REPAIR, SUSTAIN, AND PRESERVE OUR APARTMENTS. 2. PROVIDE ENHANCED SERVICES THAT FOSTER SUSTAINABLE INDEPENDENT LIVING AND HOUSING STABILITY. BELLWETHER'S ON-SITE RESIDENT SERVICES COORDINATORS (RSCS) PROVIDE ESSENTIAL RESOURCES AND REFERRALS, FACILITATING CONNECTIONS TO BOTH IN-BUILDING ACTIVITIES AND WIDER COMMUNITY ENGAGEMENTS. WITH A SPECIAL EMPHASIS ON EDUCATION, HEALTH, WELLNESS, AND COMMUNITY INVOLVEMENT, OUR PROGRAM NOT ONLY SUPPORTS RESIDENTS IN OVERCOMING LIFE'S CHALLENGES BUT ALSO EMPOWERS THEM TO ACTIVELY PURSUE THEIR PERSONAL GOALS. WE PLAY A PIVOTAL ROLE IN ENSURING FAMILIES EXITING HOMELESSNESS REMAIN HOUSED BY PROMOTING STRONG, SUPPORTIVE SOCIAL NETWORKS. THIS INCLUDES ENCOURAGING RESIDENT-LED SOCIAL EVENTS LIKE POTLUCKS, BINGO, AND MOVIE NIGHTS, WHICH ARE INTEGRAL TO BUILDING A CONNECTED AND RESILIENT COMMUNITY. OUR OVERARCHING GOAL IS TO FOSTER HOUSING STABILITY THROUGH THE CULTIVATION OF SUPPORTIVE SOCIAL RELATIONSHIPS. 3. AMPLIFY OUR IMPACT BY PROVIDING DEVELOPMENT SERVICES TO OTHER ORGANIZATIONS. BELLWETHER PROVIDES HOUSING DEVELOPMENT SERVICES TO OTHER MISSION-DRIVEN ORGANIZATIONS THAT WANT TO DEVELOP OR PRESERVE AFFORDABLE HOUSING. OUR SERVICES ALSO INCLUDE ASSET MANAGEMENT, ENERGY EFFICIENCY CONSULTING, GREEN RETROFITS, AND PROPERTY MANAGEMENT. 4. ADVOCATE TO INCREASE OPPORTUNITIES FOR AFFORDABLE PLACES TO LIVE. AS A FOUNDING MEMBER OF THE HOUSING DEVELOPMENT CONSORTIUM, BELLWETHER HOUSING IS PART OF A COALITION ACTIVELY ADVOCATING FOR AFFORDABLE HOUSING AT THE LOCAL, STATE, AND FEDERAL LEVELS. FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW FORM 990 BELLWETHER HOUSING SHARES THE FORM 990 WITH THE FINANCE AND AUDIT COMMITTEE AS WELL AS THE FULL BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. THE CONTROLLER AND CFO ALONG WITH BOARD AND BOARD COMMITTEE MEMBERS, HAVE THE OPPORTUNITY TO REVIEW AND PROVIDE INPUT PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ANNUAL CONFLICT OF INTEREST QUESTIONNAIRES ARE COMPLETED BY ALL COVERED PERSONS, WHICH ARE DEFINED IN THE BYLAWS AS ANY OF THE ORGANIZATION'S DIRECTORS, OFFICERS, MEMBERS OF ANY COMMITTEE OF THE BOARD OR STAFF EMPLOYEES THAT HAVE AUTHORITY TO ACT ON BEHALF OF THE BOARD. BOARD QUESTIONNAIRES ARE REVIEWED BY THE GOVERNANCE COMMITTEE AND SITUATIONS THAT MAY LEAD TO POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED BY THE COMMITTEE. EXECUTIVE MANAGEMENT AND STAFF QUESTIONNAIRES ARE REVIEWED BY THE CFO, WHO DETERMINES IF FURTHER REVIEW ON SPECIFIC SITUATIONS MAY BE WARRANTED. AS DESCRIBED ON SCHEDULE L, PART V SEVERAL BOARD MEMBERS, FORMER BOARD MEMBERS AND FORMER KEY EXECUTIVES ("INTERESTED PERSONS") HAVE MADE LOANS TO BELLWETHER PURSUANT TO THE ORGANIZATION'S IMPACT INVESTOR NOTES PROGRAM. UNDER THE PROGRAM, NOTE HOLDERS RECEIVE INTEREST AT A RATE OF 2%. INTERESTED PERSONS HOLD $515,300 OF IMPACT INVESTOR NOTES OUT OF THE $8.46 MILLION ISSUED. NONE OF THE OUTSTANDING NOTES ARE IN DEFAULT. ALL IMPACT INVESTOR NOTES ISSUED TO INTERESTED PERSONS HAVE BEEN APPROVED BY THE BOARD AND ARE DOCUMENTED IN WRITING. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF KEY EMPLOYEES BELLWETHER HOUSING REVIEWS SALARIES AT LEAST ANNUALLY. PERIODIC SALARY SURVEYS, MARKET STUDIES AND THE LABOR INDEX FOR COST OF LIVING ARE KEY DATA POINTS USED TO INFORM SALARY ACTIONS. THE BOARD OF DIRECTORS SETS THE CHIEF EXECUTIVE OFFICER'S SALARY ANNUALLY BASED ON JOB PERFORMANCE AND THE MARKET DRIVEN FACTORS REFERENCED ABOVE. COMPENSATION FOR SENIOR LEADERSHIP TEAM MEMBERS IS SET BY THE CEO USING THE SAME MARKET-BASED DATA. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC AVAILABILITY OF FORM 990 BELLWETHER HOUSING PROVIDES COPIES OF ITS FORM 990 IN RESPONSE TO DIRECT REQUESTS TO THE AGENCY. IN ADDITION, THE PUBLIC DISCLOSURE OF FORM 990 IS POSTED TO THE NATIONAL CLEARINGHOUSE AND GUIDESTAR.ORG. AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: TRANSFER OF NET ASSETS FROM AFFILIATED ENTITIES -3,017,982. FORM 990, PART XII, LINE 2C, FINANCIAL STATEMENT OVERSIGHT: BELLWETHER RECEIVES A DRAFT OF THE AUDIT REPORT. AFTER THE DRAFT IS REVIEWED BY THE CONTROLLER AND CFO, FEEDBACK AND SUGGESTED EDITS ARE PROVIDED TO THE AUDITOR. AFTER INCORPORATING SUGGESTED EDITS, A NEW DRAFT IS PREPARED AND PRESENTED TO THE FINANCE AND AUDIT COMMITTEE FOR REVIEW AND APPROVAL. AFTER APPROVAL BY THE FINANCE AND AUDIT COMMITTEE THE AUDIT REPORT IS PRESENTED TO THE FULL BOARD FOR REVIEW AND APPROVAL. FINANCE AND AUDIT COMMITTEE ANNUALLY DISCUSSES THE PERFORMANCE OF THE ACCOUNTING FIRM ENGAGED TO COMPLETE THE ORGANIZATION'S AUDIT AND TAX RETURNS. EVERY 5-7 YEARS, BELLWETHER HOUSING INTENDS TO UNDERGO A FORMAL REQUEST FOR PROPOSAL (RFP) PROCESS TO SOLICIT BIDS FROM OTHER ACCOUNTING FIRMS TO ASSUME THE RESPONSIBILITIES FOR COMPLETING THE AUDIT AND RELATED TAX RETURNS. THE COMMITTEE CONSIDERS SEVERAL FACTORS IN SELECTION OF THE ACCOUNTING FIRM INCLUDING OVERALL COST, NON-PROFIT CLIENT BASE, COMMUNITY PRESENCE, FIRM REPUTATION, AFFORDABLE HOUSING EXPERTISE AND QUALITY AND THOROUGHNESS OF THE RFP RESPONSE. 1201 SUMMIT LLC 433 MINOR AVE N SEATTLE WA 98109 911571613 LOW INCOME HOUSING WA 1283341 5491978 BELLWETHER HOUSING ANNAPOLIS LLC 433 MINOR AVE N SEATTLE WA 98109 911376926 LOW INCOME HOUSING WA 287408 608904 BELLWETHER HOUSING BELLEVUE OLIVE LLC 433 MINOR AVE N SEATTLE WA 98109 273231399 LOW INCOME HOUSING WA 974244 3137192 BELLWETHER HOUSING CASA PACIFICA APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 475668301 LOW INCOME HOUSING WA 1198720 3846644 BELLWETHER HOUSING EAGLES AUDITORIUM LP 433 MINOR AVE N SEATTLE WA 98109 475674515 LOW INCOME HOUSING WA 448022 932677 BELLWETHER HOUSING EIGHTH & STEWART LP 433 MINOR AVE N SEATTLE WA 98109 912060687 LOW INCOME HOUSING WA 1163922 6425998 BELLWETHER HOUSING GRAHAM TERRY APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 911636774 LOW INCOME HOUSING WA 1203022 9571559 BELLWETHER HOUSING MERCER COURT LP 433 MINOR AVE N SEATTLE WA 98109 823808617 LOW INCOME HOUSING WA 384383 1587235 BELLWETHER HOUSING MERIDIAN AVENUE NORTH LP 433 MINOR AVE N SEATTLE WA 98109 270551621 LOW INCOME HOUSING WA 1719142 11268285 BELLWETHER HOUSING STERLING COURT LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 108298 324440 BELLWETHER HOUSING VINE COURT APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 692070 2973304 BELLWETHER HOUSING OREGON APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 475681639 LOW INCOME HOUSING WA 949253 2251587 BELLWETHER HOUSING JUNEAU AND PARDEE TOWNHOMES LLC 433 MINOR AVE N SEATTLE WA 98109 475683530 LOW INCOME HOUSING WA 369735 1157553 BELLWETHER HOUSING TATE MASON HOUSE LLC 433 MINOR AVE N SEATTLE WA 98109 475643962 LOW INCOME HOUSING WA 1176018 3024899 BELLWETHER HOUSING BELLWETHER TUKWILA GP LLC 433 MINOR AVE N SEATTLE WA 98109 823686477 LOW INCOME HOUSING WA 0 0 BELLWETHER HOUSING OLIVE TOWER APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 273231399 LOW INCOME HOUSING WA 1028576 1220811 BELLWETHER HOUSING BELLWETHER VIEWS LLC 433 MINOR AVE N SEATTLE WA 98109 830935691 LOW INCOME HOUSING WA 1452197 11317098 BELLWETHER HOUSING THIRD & PINE REDEVELOPMENT LP 433 MINOR AVE N SEATTLE WA 98109 912137997 LOW INCOME HOUSING WA 727302 6520879 BELLWETHER HOUSING JUDKINS PARK LLC 433 MINOR AVE N SEATTLE WA 98109 912190415 LOW INCOME HOUSING WA 224745 2132911 BELLWETHER HOUSING BELLWETHER THE BLVD LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 1863433 34545363 BELLWETHER HOUSING BELLWETHER MARINA CLUB LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 1539185 21843486 BELLWETHER HOUSING UNIVERSITY DISTRICT DEVELOPMENT 4 GP LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 0 0 BELLWETHER HOUSING UNIVERSITY DISTRICT DEVELOPMENT 9 GP LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 0 0 BELLWETHER HOUSING BELLWETHER LINDEN GP LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 0 0 BELLWETHER HOUSING MADISON HOUSING GP LLC 433 MINOR AVE N SEATTLE WA 98109 853153711 LOW INCOME HOUSING WA 0 0 BELLWETHER HOUSING MARY'S BOAT HOUSE LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 97428 3096453 BELLWETHER HOUSING SORTUN COURT LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 221787 6043373 BELLWETHER HOUSING BELLWETHER RENTON SAGE LLC 433 MINOR AVE N SEATTLE WA 98109 884113860 LOW INCOME HOUSING WA 4706567 80408570 BELLWETHER HOUSING STONEWAY APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 912190419 LOW INCOME HOUSING WA 1070277 11209155 BELLWETHER HOUSING GENESEE LP 433 MINOR AVE N SEATTLE WA 98109 912176544 LOW INCOME HOUSING WA 542178 4990469 BELLWETHER HOUSING BW OVERLAKE LLLP 433 MINOR AVE N SEATTLE WA 98109 992422911 LOW INCOME HOUSING WA 0 0 BELLWETHER HOUSING HRG ROSE 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