2022-11-15T12:38:14-06:00 2021-12-31 943108253 NOVOGRADAC & COMPANY LLP PO BOX 7833 SAN FRANCISCO CA 941207833 990 2021-01-01 911116960 BELLWETHER HOUSING BELL 2066230506 433 MINOR AVENUE NORTH SEATTLE WA 98109 JACQUELINE MENDEZ-HANSEN CHIEF FINANCIAL OFFICER 2066230506 2022-11-15 1 JACQUELINE MENDEZ-HANSEN 999009999 ERIC M BARNETT P01433887 4153568000 2022-11-15 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z SUSAN BOYD 433 MINOR AVENUE NORTH SEATTLE WA 98109 42184993 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. 17 17 213 0 0 0 15397920 7590583 24203848 33355591 1114904 1238819 -2510 -12010 40714162 42172983 0 0 0 0 11789946 12854431 0 0 359165 16415579 19992451 28205525 32846882 12508637 9326101 195617991 264325848 95330728 152885886 100287263 111439962 X SEE SCHEDULE O 0 0 SEE SCHEDULE O 23826202 13915027 SEE SCHEDULE O 2409362 18580466 SEE SCHEDULE O 602340 860099 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. 602340 860099 26837904 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 1 213 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 WA X X JACQUELINE MENDEZ-HANSEN CHIEF FINANCIAL OFFICER 2066230506 433 MINOR AVE N SEATTLE WA 98109 DEVA HASSON CHAIR 1.00 X X 0 0 0 GABRIEL GRANT 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 BART CIMA DIRECTOR 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 DUANE LEONARD DIRECTOR 1.00 X 0 0 0 JOHN BLISS DIRECTOR 1.00 X 0 0 0 CAMBRIE NELSON DIRECTOR 1.00 X 0 0 0 GREGG COLBURN DIRECTOR 1.00 X 0 0 0 KATE JONCAS DIRECTOR 1.00 X 0 0 0 BRADLEY KARVASEK DIRECTOR 1.00 X 0 0 0 SUSAN BOYD CHIEF EXECUTIVE OFFICER 40.00 X 257904 0 25209 CHERYL DEBOISE CHIEF OPERATING OFFICER 40.00 X 215710 0 17640 JACQUELINE HANSEN CHIEF FINANCIAL OFFICER 40.00 X 180563 0 22632 RICHARD LOO DIRECTOR OF REAL ESTATE DE 40.00 X 167193 0 7486 MICHELLE HAWLEY DIRECTOR OF PROPERTY MANAG 40.00 X 157672 0 21383 AMY BESUNDER DIRECTOR OF FUNDRAISING 40.00 X 139800 0 17883 HEATHER BURNS SENIOR CONSTRUCTION MANAGE 40.00 X 124808 0 14399 KEVIN KAYSER SENIOR MAINTENANCE MANAGER 40.00 X 130171 0 7722 1373821 0 134354 20 1 1 0 RAFN COMPANY 1721 132ND AVE NE BELLEVUE WA 980052224 CONSTRUCTION SERVICES 3577363 SMR ARCHITECTS PLLC 117 SOUTH MAIN STREET SUITE 400 SEATTLE WA 98104 ARCHITECTURE 1286352 MACDONALD-MILLER FACILITY SOLUTIONS DEPT C700 PO BOX 509017 SAN DIEGO CA 921509017 HVAC & PLUMBING SERVICES 418471 TEAL GROUP TECHNOLOGIES LLC 19438 185TH AVE SE STE 100 RENTON WA 98058 IT SERVICES 366937 ROBERT HALF MANAGEMENT RESOURCES PO BOX 743295 LOS ANGELES CA 900743295 TEMPORARY STAFFING 360635 20 369088 4924947 2296548 7590583 RENTAL OPERATIONS 531310 13915027 13915027 DEVELOPMENT FEES 531310 10828324 10828324 INTEREST ON ADVANCES 531310 1687032 1687032 PROPERTY MANAGEMENT 531310 1443601 1443601 CONSULTING FEES 531310 860097 860097 4621510 4621510 33355591 1238819 1238819 0 369088 12010 -12010 -12010 42172983 33355591 0 1226809 654176 305517 322869 25790 9862921 7210014 2502200 150707 1452157 1091411 335795 24951 885177 678669 192703 13805 809577 250822 512358 46397 37319 29600 4420 3299 93982 65819 28163 25676 19783 3895 1998 1019574 547139 443403 29032 9441411 9154056 272194 15161 180365 59450 85971 34944 3313386 3135123 178263 115100 115013 87 3800681 3463250 337431 472156 454495 17661 LICENSES & FEES 285986 69133 205272 11581 PROGRAM EXPENSES 217935 182551 35384 0 OTHER MISC EXPENSES 179303 6059 171744 1500 32846882 26837904 5649813 359165 2290848 4814589 507000 769202 1717371 2680742 59064458 77215624 2788299 1191433 180677471 49599271 86539963 131078200 40256704 45776389 2453348 799669 195617991 264325848 2090178 2800951 555300 555300 90474725 146831246 2210525 2698389 95330728 152885886 X 99064568 110068872 1222695 1371090 100287263 111439962 195617991 264325848 X 9326101 1677766 148832 X X 0 1 X 1 0 X 3862760 4089342 5824094 15397920 7590583 36764699 3862760 4089342 5824094 15397920 7590583 36764699 36764699 254713 362224 1242228 1114904 1238819 4212888 2366 2366 -531 -531 40979422 111373091 0.89720 0.91490 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. 20915267 20915267 159762204 49599271 110162933 131078200 BUILDING RESERVES 12892007 C ADMINISTRATIVE OPERATING RESERVES 2831000 C POOLED REPLACEMENT RESERVES 2548625 C IMPACT INVESTMENT RESERVE 3042600 C OPPORTUNITY FUND 23609550 C NORTH SEATTLE COLLEGE FUND 852607 C 45776389 TENANT SECURITY DEPOSITS 709380 DEFERRED INTEREST PAYABLE 1876751 SHORT-TERM NOTES AND ADVANCES 112258 2698389 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 BREAKFAST 369088 369088 12010 369088 369088 12010 12010 -12010 X X 0 0 0 0 0 0 0 0 0 SUSAN BOYD CHIEF EXECUTIVE OFFICER 257904 0 0 0 0 0 10367 0 14842 0 283113 0 0 0 CHERYL DEBOISE CHIEF OPERATING OFFICER 215710 0 0 0 0 0 8713 0 8927 0 233350 0 0 0 JACQUELINE HANSEN CHIEF FINANCIAL OFFICER 180563 0 0 0 0 0 6720 0 15912 0 203195 0 0 0 MICHELLE HAWLEY DIRECTOR OF PROPERTY MANAG 157672 0 0 0 0 0 6625 0 14758 0 179055 0 0 0 RICHARD LOO DIRECTOR OF REAL ESTATE DE 167193 0 0 0 0 0 6719 0 767 0 174679 0 0 0 AMY BESUNDER DIRECTOR OF FUNDRAISING 139800 0 0 0 0 0 5614 0 12269 0 157683 0 0 0 KEVIN KAYSER SENIOR MAINTENANCE MANAGER 130171 0 0 0 0 0 2334 0 5388 0 137893 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 4A, PROGRAM SERVICE ACCOMPLISHMENTS: BELLWETHER HOUSING WAS FOUNDED IN 1980 BY THE DOWNTOWN BUSINESS COMMUNITY WITH A MISSION TO PROVIDE AFFORDABLE HOUSING OPTIONS FOR LOW-INCOME WORKERS TO LIVE CLOSE TO THEIR JOBS. TODAY, WE SERVE OVER 3,500 RESIDENTS IN 2,416 APARTMENTS. BY LOCATING OUR BUILDINGS NEAR WORKPLACES, SCHOOLS, CHILDCARE,AND OTHER AMENITIES, BELLWETHER PUTS GREATER OPPORTUNITY WITHIN REACH OF OUR RESIDENTS. THIS WAY, OUR RESIDENTS --FAMILIES EXITING HOMELESSNESS, INDEPENDENT SENIORS, IMMIGRANTS SEEKING OPPORTUNITY, PRESCHOOL TEACHERS AND SOCIAL WORKERS, AND YOUNG PEOPLE JUST STARTING OUT -- HAVE ACCESS TO THE BENEFITS AND PROSPERITY OF THEIR SURROUNDING COMMUNITIES AND, IN TURN, CULTIVATE A MORE VIBRANT AND EQUITABLE CITY. LOOKING FORWARD, BELLWETHER WILL CONTINUE TO INTEGRATE 40 PLUS YEARS OF SUCCESS WITH NEW IDEAS AND PIONEERING DEVELOPMENT APPROACHES. AS KING COUNTY CONTINUES TO EXPERIENCE UNPRECEDENTED JOB GROWTH, HOUSING SHORTAGES, AND INCREASING HOMELESSNESS, BELLWETHER WILL CONTINUE TO AGGRESSIVELY DEVELOP OR ACQUIRE AFFORDABLE HOMES FOR LOW AND MODERATE INCOME RESIDENTS OF KING COUNTY. BELLWETHER HOUSING HAS FOUR CORE PROGRAMS. 1. DEVELOP AND MANAGE AFFORDABLE APARTMENTS. BELLWETHER MANAGES 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 III, LINE 4B, PROGRAM SERVICES - WHOLLY OWNED: AS PART OF ITS REAL ESTATE PORTFOLIO BELLWETHER HAS SOLE OWNERSHIP OF 21 BUILDINGS IN THE PUGET SOUND AREA PROVIDING 1,309 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 NINE 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 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, CFO AND COO 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 COO, 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 AND COO 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 148,832. 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, CFO, AND COO, 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 1225967 5868596 BELLWETHER HOUSING ANNAPOLIS LLC 433 MINOR AVE N SEATTLE WA 98109 911376926 LOW INCOME HOUSING WA 267225 967202 BELLWETHER HOUSING BELLEVUE OLIVE LLC 433 MINOR AVE N SEATTLE WA 98109 273231399 LOW INCOME HOUSING WA 715761 4237719 BELLWETHER HOUSING CASA PACIFICA APARTMENTS LLC 433 MINOR AVE N SEATTLE WA 98109 475668301 LOW INCOME HOUSING WA 1125481 4286645 BELLWETHER HOUSING EAGLES AUDITORIUM LP 433 MINOR AVE N SEATTLE WA 98109 475674515 LOW INCOME HOUSING WA 486086 1186506 BELLWETHER HOUSING EIGHTH & STEWART LP 433 MINOR AVE N SEATTLE WA 98109 912060687 LOW INCOME HOUSING WA 1136359 5740245 BELLWETHER HOUSING GRAHAM TERRY APARTMENTS LLC 433 MINOR AVE N 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