2023-11-14T12:11:59-06:00 2022-12-31 943108253 NOVOGRADAC & COMPANY LLP PO BOX 7833 SAN FRANCISCO CA 941207833 990 2022-01-01 911116960 BELLWETHER HOUSING BELL 2066230506 433 MINOR AVENUE NORTH SEATTLE WA 98109 JENNIFER NGUYEN CHIEF FINANCIAL OFFICER 2066230506 2023-11-14 1 JENNIFER NGUYEN 999009999 0 MELISSA CHUNG P01800871 4153568000 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SUSAN BOYD 433 MINOR AVENUE NORTH SEATTLE WA 98109 47405431 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 IN THE OPPORTUNITY AND PROSPERITY OF OUR REGION.BELLWETHER HOUSING CREATES STABLE COMMUNITIES AND ACCESS TO OPPORTUNITYTHROUGH AFFORDABLE HOUSING. WE DEVELOP AND MANAGE HOMES FOR PEOPLEWITH LIMITED INCOMES NEAR JOB CENTERS, TRANSIT, AND SERVICES. WEAMPLIFY OUR IMPACT BY HELPING OTHER ORGANIZATIONS IN THE PUGET SOUNDREGION DO THE SAME. 18 18 235 0 0 0 7590583 6919728 33355591 39533018 1238819 953009 -12010 -72708 42172983 47333047 0 0 0 0 12854431 15001536 0 0 350733 19992451 31464839 32846882 46466375 9326101 866672 264325848 381603055 152885886 269084897 111439962 112518158 X SEE SCHEDULE O 0 0 SEE SCHEDULE O 35663441 18993871 SEE SCHEDULE O 2614872 19391146 SEE SCHEDULE O 653719 1148001 BELLWETHER HOUSING PROVIDES FEE-BASED TECHNICAL ASSISTANCE TO HELPOTHER NON-PROFITS CREATE AFFORDABLE HOUSING FOR THEIR RESPECTIVE MARKETS.SERVICES INCLUDE CONSULTING IN THE AREAS OF DEVELOPMENT, PROPERTYMANAGEMENT AND ASSET MANAGEMENT. 653719 1148001 38932032 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 82 0 1 235 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 CHAIR 1.00 X X 0 0 0 KATE JONCAS VICE- CHAIR 1.00 X X 0 0 0 CARLA DEWBERRY TREASURER 1.00 X X 0 0 0 REBEKAH BASTIAN SECRETARY 1.00 X 0 0 0 RICHARD KENDALL DIRECTOR 1.00 X 0 0 0 SHELLY CROCKER DIRECTOR 1.00 X 0 0 0 PETER LARSEN DIRECTOR 1.00 X 0 0 0 PETER NITZE DIRECTOR 1.00 X 0 0 0 PETE MILLER DIRECTOR 1.00 X 0 0 0 ALEX HUDSON DIRECTOR 1.00 X 0 0 0 JOHN BLISS DIRECTOR 1.00 X 0 0 0 GREGG COLBURN DIRECTOR 1.00 X 0 0 0 GABRIEL F GRANT DIRECTOR 1.00 X X 0 0 0 BRADLEY KARVASEK DIRECTOR 1.00 X 0 0 0 NAVNEET KESHER DIRECTOR 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 CHAN DIRECTOR 1.00 X 0 0 0 SUSAN BOYD CHIEF EXECUTIVE OFFICER 40.00 X 269462 0 27474 CHERYL DEBOISE CHIEF OPERATING OFFICER 40.00 X 226384 0 19625 JACQUELINE HANSEN CHIEF FINANCIAL OFFICER 40.00 X 187718 0 23954 RICHARD LOO DIRECTOR OF REAL ESTATE DE 40.00 X 177578 0 7460 MICHELLE HAWLEY DIRECTOR OF PROPERTY MANAG 40.00 X 154511 0 30064 AMY BESUNDER DIRECTOR OF FUNDRAISING 40.00 X 153461 0 16622 PAUL R RAMIREZ DIRECTOR OF FACILITIES MANAGEMENT 40.00 X 145385 0 10337 CODY Z MCCALL CONTROLLER 40.00 X 140364 0 10074 1454863 0 145610 25 0 1 0 RAFN COMPANY 1721 132ND AVE NE BELLEVUE WA 980052224 CONSTRUCTION SERVICES 2070038 ROBERT HALF MANAGEMENT RESOURCES PO BOX 743295 LOS ANGELES CA 900743295 TEMPORARY STAFFING 1173192 MACDONALD-MILLER FACILITY SOLUTIONS DEPT C700 PO BOX 509017 SAN DIEGO CA 921509017 HVAC & PLUMBING SERVICES 316447 PACIFIC FIRE & SECURITY INC 12529 131 ST COURT NE KIRKLAND WA 98034 FIRE SYSTEMS & SECURITY 300624 MIKAELA KINER COACHING AND CONSULTING LL 6523 CALIFORNIA AVE SW 220 SEATTLE WA 98136 CONSULTING 232410 19 451637 5820669 647422 6919728 RENTAL OPERATIONS 531310 18993871 18993871 DEVELOPMENT FEES 531310 10748679 10748679 PROPERTY MANAGEMENT 531310 2315764 2315764 INTEREST ON ADVANCES 531310 2055618 2055618 CONSULTING FEES 531310 1148001 1148001 4271085 4271085 39533018 953009 953009 0 451637 72384 -72384 -72384 LOSS ON SALE OF PROPERTY 900099 -324 -324 -324 47333047 39532694 0 880625 2002163 1216317 679615 106231 10116367 7595185 2407438 113744 1793586 1390896 370496 32194 1089420 896636 175269 17515 1088130 227833 847460 12837 66985 42576 23971 438 126477 88000 38477 279146 265026 13820 300 1341095 697390 629977 13728 12827865 11915883 894875 17107 229845 112802 99697 17346 5454660 5248985 205675 542191 542191 5895430 5536331 359099 657358 635063 22295 OTHER MISC EXPENSES 1350510 1254462 96048 0 PROGRAM EXPENSES 870972 858249 2839 9884 WRITE-OFFS 447783 319332 128451 0 LICENSES & FEES 286392 88875 188108 9409 46466375 38932032 7183610 350733 4814589 2034947 769202 435578 2680742 3518458 77215624 98869916 1191433 6393534 295801246 64772927 131078200 231028319 45776389 37648797 799669 1673506 264325848 381603055 2800951 2794096 555300 555300 146831246 257098372 2698389 8637129 152885886 269084897 X 110068872 112007578 1371090 510580 111439962 112518158 264325848 381603055 X 866672 -2289510 2501034 X X 0 1 X 1 0 X 4089342 5824094 15397920 7590583 6919728 39821667 4089342 5824094 15397920 7590583 6919728 39821667 39821667 362224 1242228 1114904 1238819 953009 4911184 2366 2366 44735217 91878944 0.89020 0.89720 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 17180 0 0 17180 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 261743257 64772927 196970330 231028319 BUILDING RESERVES 11659125 C ADMINISTRATIVE OPERATING RESERVES 1723612 C POOLED REPLACEMENT RESERVES 2842184 C IMPACT INVESTMENT RESERVE 1147259 C OPPORTUNITY FUND 20276617 C 37648797 TENANT SECURITY DEPOSITS 896113 DEFERRED INTEREST PAYABLE 7327757 SHORT-TERM NOTES AND ADVANCES 413259 8637129 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 5, 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 7, 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 8, 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 9, 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 451637 451637 47138 23552 1694 451637 451637 47138 23552 1694 72384 -72384 X X 0 0 0 0 0 0 0 0 0 SUSAN BOYD CHIEF EXECUTIVE OFFICER 269462 0 0 0 0 0 16645 0 10829 0 296936 0 0 0 CHERYL DEBOISE CHIEF OPERATING OFFICER 226384 0 0 0 0 0 9977 0 9648 0 246009 0 0 0 JACQUELINE HANSEN CHIEF FINANCIAL OFFICER 187718 0 0 0 0 0 16614 0 7340 0 211672 0 0 0 RICHARD LOO DIRECTOR OF REAL ESTATE DE 177578 0 0 0 0 0 1085 0 6375 0 185038 0 0 0 MICHELLE HAWLEY DIRECTOR OF PROPERTY MANAG 154511 0 0 0 0 0 21487 0 8577 0 184575 0 0 0 AMY BESUNDER DIRECTOR OF FUNDRAISING 153461 0 0 0 0 0 10043 0 6579 0 170083 0 0 0 PAUL R RAMIREZ DIRECTOR OF FACILITIES MANAGEMENT 145385 0 0 0 0 0 9999 0 338 0 155722 0 0 0 CODY Z MCCALL CONTROLLER 140364 0 0 0 0 0 9924 0 150 0 150438 0 0 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 A 0 B 0 C 0 GABRIEL GRANT 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 SARAH LEWONTIN FORMER EXECUTIVE DIRECTOR IMPACT INVESTOR NOTES X 15000 15000 0 1 1 TIMOTHY E OVERLAND 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 SARAH R LEWONTIN FORMER EXECUTIVE DIRECTOR IMPACT INVESTOR NOTES X 25000 25000 0 1 1 GABRIEL GRANT 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 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 BOARD MEMBER IMPACT INVESTOR NOTES X 5000 5000 0 1 1 BART CIMA 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 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 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 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 555300 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 2,952 AFFORDABLE APARTMENTS IN 38 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 ABOUT $66,000 FOR A FAMILY OF FOUR). WE HOUSE OVER 4,000 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 1,050 APARTMENTS INTO SERVICE, HAVE 1,300 APARTMENTS EITHER PLANNED OR UNDER CONSTRUCTION, AND HAVE PLANS TO ACQUIRE ANOTHER 600 UNITS OF HOUSING, WHICH WE WILL PRESERVE AS PERMANENTLY AFFORDABLE, ALL BEFORE 2025. 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. BELLWETHER PLANS TO INCREASE OUR PORTFOLIO BY DEVELOPING OR ACQUIRING 2,500 HOMES IN THE NEXT FIVE YEARS. 2. COORDINATE SERVICES THAT SUPPORT RESIDENTS IN INDEPENDENT LIVING. BELLWETHER'S ON-SITE RESIDENT SERVICES COORDINATORS (RSCS) OFFER RESIDENTS RESOURCES AND REFERRALS AND CONNECT RESIDENTS TO ACTIVITIES AT THE BUILDING AND IN THE COMMUNITY WITH A FOCUS ON EDUCATION, HEALTH, WELLNESS AND COMMUNITY ENGAGEMENT. OUR PROGRAM SUPPORTS AND EMPOWERS RESIDENTS TO FIND SOLUTIONS TO SOLVE THE CHALLENGES IN THEIR LIVES, ENCOURAGING RESIDENTS TO WORK HOLISTICALLY ON THEIR PERSONAL GOALS AND TO CONTRIBUTE TO THEIR COMMUNITIES. WE SUPPORT COMMUNITY BUILDING BY SUPPORTING RESIDENT-INITIATED SOCIAL EVENTS SUCH AS POTLUCKS, BINGO, AND MOVIE NIGHTS. OUR GOAL IS TO PROMOTE HOUSING STABILITY THROUGH STRONG, 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 $555,300 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 2,501,034. 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 1230810 5750491 BELLWETHER HOUSING ANNAPOLIS LLC 433 MINOR AVE N SEATTLE WA 98109 911376926 LOW INCOME HOUSING WA 282498 613085 BELLWETHER HOUSING BELLEVUE OLIVE LLC 433 MINOR AVE N SEATTLE WA 98109 273231399 LOW INCOME HOUSING WA 969464 2903478 BELLWETHER HOUSING CASA PACIFICA APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 475668301 LOW INCOME HOUSING WA 1154741 4106706 BELLWETHER HOUSING EAGLES AUDITORIUM LP 433 MINOR AVE N SEATTLE WA 98109 475674515 LOW INCOME HOUSING WA 413879 1001938 BELLWETHER HOUSING EIGHTH & STEWART LP 433 MINOR AVE N SEATTLE WA 98109 912060687 LOW INCOME HOUSING WA 1161291 6519189 BELLWETHER HOUSING GRAHAM TERRY APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 911636774 LOW INCOME HOUSING WA 1104967 10151708 BELLWETHER HOUSING MERCER COURT LP 433 MINOR AVE N SEATTLE WA 98109 823808617 LOW INCOME HOUSING WA 379097 1674168 BELLWETHER HOUSING MERIDIAN AVENUE NORTH LP 433 MINOR AVE N SEATTLE WA 98109 270551621 LOW INCOME HOUSING WA 1765414 11413967 BELLWETHER HOUSING STERLING COURT LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 98528 359680 BELLWETHER HOUSING VINE COURT APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 645592 3155081 BELLWETHER HOUSING OREGON APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 475681639 LOW INCOME HOUSING WA 903026 2368353 BELLWETHER HOUSING JUNEAU AND PARDEE TOWNHOMES LLC 433 MINOR AVE N SEATTLE WA 98109 475683530 LOW INCOME HOUSING WA 347968 1231182 BELLWETHER HOUSING TATE MASON HOUSE LLC 433 MINOR AVE N SEATTLE WA 98109 475643962 LOW INCOME HOUSING WA 1118363 3228388 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 1007929 1328574 BELLWETHER HOUSING BELLWETHER VIEWS LLC 433 MINOR AVE N SEATTLE WA 98109 830935691 LOW INCOME HOUSING WA 1424017 11542203 BELLWETHER HOUSING GILMORE APARTMENTS 433 MINOR AVE N SEATTLE WA 98109 912137997 LOW INCOME HOUSING WA 745173 5706805 BELLWETHER HOUSING JUDKINS PARK LLC 433 MINOR AVE N SEATTLE WA 98109 912190415 LOW INCOME HOUSING WA 213816 2254380 BELLWETHER HOUSING BELLWETHER THE BLVD LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 1943916 28473310 BELLWETHER HOUSING BELLWETHER MARINA CLUB LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 1383106 21984191 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 BITTER 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 91837 3161414 BELLWETHER HOUSING SORTUN COURT LLC 433 MINOR AVE N SEATTLE WA 98109 911116960 LOW INCOME HOUSING WA 204756 5682894 BELLWETHER HOUSING BELLWETHER RENTON SAGE LLC 433 MINOR AVE N SEATTLE WA 98109 884113860 LOW INCOME HOUSING WA 1289635 82510544 BELLWETHER HOUSING STONEWAY APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 912190419 LOW INCOME HOUSING WA 1018204 11498734 BELLWETHER HOUSING GENESEE LP 433 MINOR AVE N SEATTLE WA 98109 912176544 LOW INCOME HOUSING WA 532363 5200555 BELLWETHER HOUSING HRG ROSE STREET APARTMENTS LP 433 MINOR AVE N SEATTLE WA 98109 270955200 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED -32 341809 0 1 0.00010 SUNSET APARTMENTS LP 433 MINOR AVE N SEATTLE WA 98109 274507366 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED -7 408900 0 1 0.00010 PARKER APARTMENTS LP 433 MINOR AVE N SEATTLE WA 98109 611736307 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED -22 2003062 0 1 0.00100 CAMBRIDGE LLLP 433 MINOR AVE N SEATTLE WA 98109 812528806 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED -118 21139963 0 1 0.00010 SECURITY HOUSE LLLP 433 MINOR AVE N SEATTLE WA 98109 812546728 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED 39 2078 0 1 0.00010 UNIVERSITY DISTRICT APTS 4 LP 433 MINOR AVE N SEATTLE WA 98109 811167925 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED -76 2309430 0 1 0.00010 UNIVERSITY DISTRICT APTS 9 LP 433 MINOR AVE N SEATTLE WA 98109 811158202 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED -50 1014876 0 1 0.00010 1511 DEXTER 433 MINOR AVE N SEATTLE WA 98109 454084367 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED -58 2954809 0 1 0.00010 MADISON HOUSING LLLP 433 MINOR AVE N SEATTLE WA 98109 843801044 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED 86712849 0 1 0.00010 BELLWETHER TUKWILA LLLP 433 MINOR AVE N SEATTLE WA 98109 823686477 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED -150 5462658 0 1 0.00010 6600 ROOSEVELT LLLP 433 MINOR AVE N SEATTLE WA 98109 833203840 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED -601 8609545 0 1 0.00010 BELLWETHER LINDEN LLLP 433 MINOR AVE N SEATTLE WA 98109 852050346 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED 7677250 0 1 0.00010 ROSE 2 LLLP 433 MINOR AVE N SEATTLE WA 98109 861427961 LOW INCOME HOUSING WA BELLWETHER HOUSING RELATED 11092045 0 1 0.00010 COMMERCIAL RESOURCES GROUP 433 MINOR AVENUE N SEATTLE WA 98109 912154758 REAL ESTATE WA BELLWETHER HOUSING C 1.00000 0 CAMBRIDGE DEVELOPMENT GP 433 MINOR AVENUE N SEATTLE WA 98109 814455432 REAL ESTATE WA BELLWETHER HOUSING C 3967 51758 0.79000 0 SECURITY HOUSE DEVELOPMENT GP 433 MINOR AVENUE N SEATTLE WA 98109 814459515 REAL ESTATE WA BELLWETHER HOUSING C 348 25882 0.79000 0 SUNSET APARTMENTS GP LLC 433 MINOR AVENUE N SEATTLE WA 98109 823881186 REAL ESTATE WA BELLWETHER HOUSING C 293056 433426 1.00000 0 CEDAR CROSSING GP 433 MINOR AVENUE N SEATTLE WA 98109 850800410 REAL ESTATE WA BELLWETHER HOUSING C -1652 -320 0.67000 0 ROSE 2 GP LLC 433 MINOR AVENUE N SEATTLE WA 98109 871849238 REAL ESTATE WA BELLWETHER HOUSING C -1310 6600094 1.00000 0 MADISON HOUSING GP LLC 433 MINOR AVENUE N SEATTLE WA 98109 853153711 REAL ESTATE WA BELLWETHER HOUSING C -1950 5785379 1.00000 0 BELLWETHER TUKWILA GP LLC 433 MINOR AVENUE N SEATTLE WA 98109 855018646 REAL ESTATE WA BELLWETHER HOUSING C -1292 -106 1.00000 0 ROOSEVELT JOINT VENTURE LLC 433 MINOR AVENUE N SEATTLE WA 98109 REAL ESTATE WA BELLWETHER HOUSING C 1.00000 0 CEDAR ELC LLC 433 MINOR AVENUE N SEATTLE WA 98109 REAL ESTATE WA BELLWETHER HOUSING C 1.00000 0 1 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 SECURITY HOUSE LLLP A 85065 CASH RECEIPTS STONEWAY APARTMENTS LLC A 51973 CASH RECEIPTS 1511 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CASH RECEIPTS UNIVERSITY APARTMENTS 4 LLLP L 95448 CASH RECEIPTS UNIVERSITY APARTMENTS 4 LLLP - MASTER LEASE L 4011 CASH RECEIPTS UNIVERSITY APARTMENTS 9 LLLP A 49549 CASH RECEIPTS UNIVERSITY APARTMENTS 4 LLLP D 173353 CASH RECEIPTS GENESEE LP A 159203 CASH RECEIPTS UNIVERSITY APARTMENTS 9 LLLP D 146226 CASH RECEIPTS UNIVERSITY APARTMENTS 9 LLLP L 60118 CASH RECEIPTS 6600 ROOSEVELT LLLP M 1689076 CASH DISBURSEMENTS MADISON HOUSING LLLP L 3158043 CASH RECEIPTS CAMBRIDGE DEVELOPMENT GP L 5796 CASH RECEIPTS SUNSET APARTMENTS GP L 217830 CASH RECEIPTS SECURITY HOUSE DEVELOPMENT GP L 2898 CASH RECEIPTS