2017-11-08T18:00:49-06:00 2016-12-31 910605875 Peterson Sullivan LLP CPA'S 601 Union St Ste 2300 Seattle WA 981012345 990 2016-01-01 911565651 Homestead Community Land Trust HOME 2063231227 412 Maynard Ave S No 201 Seattle WA 98104 kathleen hosfeld executive director 2063231227 2017-11-03 1 Ray Holmdahl P00120599 2063827777 2017-11-03 38.100.226.178 2017-11-03 16:21:57 PD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A272B792B793EC1E877CF5E4667DA94DDB04F032 2016 2018-03-14 21:41:22Z kathleen hosfeld 412 Maynard Ave S No 201 Seattle WA 98104 5671398 0 X www.homesteadclt.org X 1992 WA Homestead Community Land Trust empowers individuals, stabilizes families and strengthens neighborhoods by creating and preserving affordable homeownership opportunities for modest-income homebuyers in the Greater Seattle/Puget Sound area. 12 12 10 35 0 0 629090 894593 110936 125289 568296 763778 -4872 -4908 1303450 1778752 0 0 0 0 521076 321104 0 0 69044 780531 1642515 1301607 1963619 1843 -184867 19237104 14986371 13989956 10885293 5247148 4101078 X Homestead Community Land Trust empowers individuals, stabilizes families and strengthens neighborhoods by creating and preserving affordable homeownership opportunities for modest-income homebuyers in the Greater Seattle/Puget Sound area. 0 0 1712302 901666 TO CREATE AND PERMANENTLY PRESERVE AFFORDABLE HOME OWNERSHIP FOR MODEST INCOME HOUSEHOLDS PRICED OUT OF THE MARKETPLACE AND TO SUPPORT THEIR ONGOING SUCCESS THROUGH EDUCATION, COUNSELING, REFERRAL AND ADVOCACY. HOMESTEAD HAS ACCOMPLISHED THIS THROUGH THE FOLLOWING:1) PUTTING HOMEOWNERSHIP WITHIN REACH (ANNUAL REPORT): - HOMESTEAD HOMES ARE AFFORDABLE TO THOSE WHO MAKE LESS THAN 80% OF AREA MEDIAN INCOME. - MEDIAN PRICE HOMESTEAD HOME: $193,217 - MEDIAN PRICE SEATTLE: $594,600 - MEDIAN PRICE KING COUNTY: $514,975 - SOURCES: HOMESTEAD, ZILLOW 11.16.20162) SECURITY AND STABILITY OF HOMEOWNERSHIP: MORE THAN 200 INDIVIDUALS NOW HAVE ACCESS TO THE SECURITY AND STABILITY OF HOMEOWNERSHIP, AND MORE THAN 160 ARE CHILDREN UNDER THE AGE OF 18.3) EQUITY GAINS: - OVER HALF, 54%, OF HOMESTEAD HOMEOWNING HOUSEHOLDS ARE HOUSEHOLDS OF COLOR. - AVERAGE AREA MEDIAN INCOME (AMI), ADJUSTED FOR HOUSEHOLD SIZE OF CURRENT HOMESTEAD HOMEOWNERS IS 57%. HOMESTEAD HOMEOWNERS ARE INDIVIDUALS (32%) AND FAMILIES (68%).4) CREATING JOBS AND ECONOMIC GROWTH (ANNUAL REPORT): OUR 211 HOMES HAVE CONTRIBUTED TO THE ECONOMY: - JOBS 594 - WAGES $12,400,000 - BUSINESS INCOME $3,600,000 - TAX REVENUE $1,100,000 - ESTIMATED BASED ON NATIONAL ASSOCIATION OF HOME BUILDERS STATISTICS (2016) 1712302 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 22 0 1 10 1 0 0 0 0 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 0 0 1 0 0 X kathleen hosfeld 2063231227 412 Maynard Ave S No 201 Seattle WA 98104 Tim Morley President 5.00 X X 0 0 0 Tony Case Vice President 5.00 X X 0 0 0 Ken Tanzer Treasurer 3.00 X X 0 0 0 David Garcia Secretary 4.00 X X 0 0 0 John Bianchi Board Member 4.00 X 0 0 0 Brian Chu Board Member 3.00 X 0 0 0 Celeste Denson Board Member 3.00 X 0 0 0 Aric Ho Board Member 4.00 X 0 0 0 Trini Jacinto Board Member 3.00 X 0 0 0 Rachel Myers Board Member 3.00 X 0 0 0 Rand Redlin Board Member 4.00 X 0 0 0 Mary-Jayne Walker Board Member 3.00 X 0 0 0 Kathleen Hosfeld Executive Director 60.00 X 117000 0 0 117000 0 0 1 0 0 0 0 33093 38028 823472 894593 lease fee payments 531110 90889 90889 project development 531390 34400 34400 125289 16 16 12615 0 12615 12615 12615 4629233 3865471 763762 763762 763762 9652 33093 27175 -17523 -17523 1778752 901666 0 -17507 117000 63754 38174 15072 168593 99522 46123 22948 1476 871 404 201 14626 8634 4001 1991 19409 11457 5310 2642 5168 5168 25692 25692 118908 64794 38796 15318 2719 1605 744 370 12590 7432 3444 1714 8728 5153 2387 1188 34684 20475 9488 4721 3697 2183 1011 503 10542 6223 2884 1435 15638 14144 1494 home closing subsidy 1346314 1346314 Project Development 32030 32030 miscellaneous 16308 13046 2321 941 Post-Closing Constructi 9497 9497 1963619 1712302 182273 69044 573142 611037 1164 1092 90444 74829 30149 288073 19333 17333 24164 1905 13502837 7742 13495189 13495095 5003519 497007 19237104 14986371 330846 119447 13610267 10704130 48843 61716 13989956 10885293 X 4698889 3873608 548259 227470 5247148 4101078 19237104 14986371 X -184867 -961203 0 X 0 1 X 1 1 1 X 1536926 408372 928193 629090 904245 4406826 1536926 408372 928193 629090 904245 4406826 394584 4012242 650 2615 2468 1954 16 7703 901 1134 7054 9089 4423618 598781 0.90700 0.92400 X Schedule A, Part II, Line 10, Explanation of Other Income: miscellaneous Energy Rebate RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 0 0 0 1 1 0 0 0 Part II-B, Line 1: Talking to city and state officials about affordable housing issues. 13495095 13495095 7742 7742 0 13495095 cash held in reserve for hoa 61716 61716 Champion Event 18805 18805 8088 6128 612 Home Games 22940 13288 9652 6273 599 1230 1 1000 1000 1239 3006 42745 33093 9652 15600 6727 4848 27175 -17523 Form 990, Part VI, Section A, line 6 members elect the board of directors Form 990, Part VI, Section A, line 7a members elect the board of directors Form 990, Part VI, Section A, line 7b the board and members must approve bylaw changes, selling assets, changing resell formulas and dues. Form 990, Part VI, Section A, line 8b committees make recommendations to the full board. The full board makes the decisions. Form 990, Part VI, Section B, line 11b the executive director, bookkeeper, and treasurer review the 990 and compare to the financial statements. The return is then circulated to the full board for their review before its submission. Form 990, Part VI, Section B, line 12c officers, key employees, and board members sign the statement annually. Form 990, Part VI, Section B, line 15a the board reviews and approves compensation based on comparable data. Form 990, Part VI, Section C, line 19 available upon request. Form 990, Part XI, Line 8 The December 31, 2015, homes inventory balance has been restated to correct an error discovered in 2016. The error resulted from Homestead capitalizing costs to homes inventory, but not allocating the costs to specific units that were sold in 2014 and 2015. The effect of this restatement was to decrease the home inventory balance and net assets balance by $961,203. Columbia 26 LLC fka hclt wolcott llc 412 Maynard Ave S 201 seattle WA 98104 273621947 Develop and rehabilitate affordable housing WA 788966 42398 homestead community land trust Homestead Rebuilding Communities 412 Maynard Ave S 201 seattle WA 98104 455180363 renovate distressed properties WA 171495 661553 homestead community land trust