2013-08-12T15:30:42-05:00 2012-12-31 FINNEY NEILL & COMPANY PS 9757 GREENWOOD AVE N SEATTLE WA 98103 990 2012-01-01 911546757 FARESTART FARE 2064431233 700 VIRGINIA STREET SEATTLE WA 98101 MEGAN KARCH 2064431233 2013-08-12 true ROBERT C FINNEY CPA 2062989811 2013-08-12 2012 2016-02-24 21:20:13Z MEGAN KARCH 700 VIRGINIA STREET SEATTLE WA 98101 13808014 false X WWW.FARESTART.ORG X 1992 WA FARESTART PROVIDES A COMMUNITY THAT TRANSFORMS LIVES BY EMPOWERING HOMELESS AND DISADVANTAGED MEN, WOMEN AND FAMILIES TO ACHIEVE SELF-SUFFICIENCY THROUGH LIFE SKILLS,JOB TRAINING AND EMPLOYMENT IN THE FOOD SERVICE INDUSTRY. 23 22 200 1732 0 4039132 4325110 2953049 3789676 99683 115717 -142432 5354663 6949432 13585166 0 0 3819434 4203000 71244 34956 1085162 3352693 4164299 7243371 8402255 -293939 5182911 23817337 12766814 16701812 683063 7115525 12083751 X FARESTART PROVIDES A COMMUNITY THAT TRANSFORMS LIVES BY EMPOWERING HOMELESS AND DISADVANTAGED MEN, WOMEN AND FAMILIES TO ACHIEVE SELF-SUFFICIENCY THROUGH LIFE SKILLS,JOB TRAINING AND EMPLOYMENT IN THE FOOD SERVICE INDUSTRY. false false 6234034 3789676 IN 2012, FARESTART'S KEY MEASURABLE OUTCOMES REMAINED SOLID AND MADE A SIGNIFICANT IMPACT IN THE COMMUNITY. WE PROVIDED SERVICES TO 901 INDIVIDUALS, WHILE 182 ADULTS AND YOUTH COMPLETED OUR JOB TRAINING PROGRAMS. THROUGH THESE SERVICES, MORE THAN 200 INDIVIDUALS UPGRADED AND STABILIZED THEIR HOUSING WHILE ENROLLED IN THE PROGRAM, AND WE ALSO SAW THE HIGHEST ANNUAL JOB PLACEMENT (87%) AND JOB RETENTION (74%) RATES IN OUR ORGANIZATION'S HISTORY. ADDITIONALLY, FARESTART'S KITCHENS PRODUCED AND SERVED OVER 560,000 MEALS TO THOSE IN NEED IN OUR COMMUNITY. OUR COMMUNITY FOODS PROGRAM OPERATED IN ACCORDANCE WITH A GRANT FROM THE USDA COMPLETED THE YEAR WITH POSITIVE OUTCOMES IN PROVIDING UNDERSERVED SCHOOL CHILDREN NUTRITIOUS MEALS AND EDUCATION ON HOW THEIR FAMILIES CAN ACCESS NUTRITIOUS FOOD IN THE COMMUNITY. THROUGH OUR NATIONAL NETWORK, CATALYST KITCHENS, WE WORKED WITH 37 MEMBER ORGANIZATIONS ACROSS THE UNITED STATES AND CANADA ON DEVELOPING THEIR OWN PROGRAMS MODELED ON FARESTART'S SUCCESSFUL SOCIAL ENTERPRISE MODEL. 6234034 true true false false false false false false false false true false false false false false true true false false false false false true true false false false false true false false false false false false false false true false false false false true true true false false true 38 0 true 200 true false false false false false true true false false false false X 23 22 false false false false false false false true true false false true true true true true true true false true false WA X X X MEGAN KARCH 2064431233 700 VIRGINIA STREET SEATTLE WA 98101 GERRY ADAMS 3.00 X X 0 0 0 BILL ADAMUCCI 3.00 X 0 0 0 JEFFREY ADELSON 3.00 X 0 0 0 ALEX CEBALLOS 1.50 X 0 0 0 CONNIE CLARK-REDMOND 3.00 X 0 0 0 LISA CLARKE 3.00 X X 0 0 0 PAUL DAVIS 3.00 X 0 0 0 KEN GLASS 1.50 X 0 0 0 KEN HART 3.00 X 0 0 0 GREGG JOHNSON 3.00 X X 0 0 0 RODGER KOHN 3.00 X 0 0 0 DAVID LINTON 3.00 X X 0 0 0 JERRY MEYER 3.00 X 0 0 0 BOB NELSON 3.00 X 0 0 0 PATRICIA PEDERSEN 3.00 X 0 0 0 JON PETTIT 3.00 X 0 0 0 CRAIG RUSSELL 3.00 X X 0 0 0 PHIL STALCUP 3.00 X 0 0 0 NORM SWICK 3.00 X X 0 0 0 LYN TANGEN 3.00 X X 0 0 0 SHERYL WILLERT 1.50 X 0 0 0 MARY YU 1.50 X 0 0 0 MEGAN KARCH 40.00 X 143851 0 6307 AMY MICHAEL 40.00 X 105733 0 6307 249584 12614 2 false true false 636399 975290 2713421 443428 4325110 FOOD SERVICE REVENUE 722511 3251593 3251593 GUEST CHEF 722511 290679 290679 NON-PROFIT TRAINING 624200 144149 144149 MISC. PROGRAM SERVICE REVENUE 624200 103255 103255 3789676 115717 115717 516445 636399 222848 293597 211896 DEBT CANCELLATION 900003 5768813 5768813 FARESTART PROPERTIES LLC 531120 -707747 -707747 5061066 13585166 8850742 327613 249584 5519 213954 30111 3292215 2599736 352052 340427 330164 263646 45272 21246 331037 254164 46333 30540 33878 33878 34956 34956 434578 222378 54881 157319 78463 338 2092 76033 239477 130556 29685 79236 463100 404186 41844 17070 48307 41425 3547 3335 223451 223451 1110124 143410 957055 9659 59870 52386 5149 2335 COST OF GOODS SOLD 1149810 1084364 500 64946 STUDENT SUPPORT 492099 491393 677 29 RESTAURANT AND CAFE OPERA 384872 358054 15858 10960 NEW MKTS TAX CREDIT UNWND 127533 127533 -681263 182479 -1070702 206960 8402255 6234034 1083059 1085162 X 1292116 1602861 194074 103899 305673 297462 477785 458509 9748806 40188 46292 101617 120293 15430498 6676839 9244712 8753659 1163068 1383839 553599 695699 23817337 12766814 845795 473205 98468 112499 15660190 97359 97359 16701812 683063 X 6649732 11646152 465793 437599 7115525 12083751 23817337 12766814 5182911 258049 -472734 X false true X true true true X 3083845 3537451 3900505 4039132 4325110 18886043 3083845 3537451 3900505 4039132 4325110 18886043 1070075 17815968 101176 98610 99523 115717 415026 -169138 518004 542789 496752 373255 1761662 21062731 17872688 0.84590 0.89520 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2442204 2442204 10642290 4750682 5891608 2346004 1926157 419847 8753659 14550962 258049 707747 965796 13585166 13585166 9546621 1144366 1144366 8402255 8402255 REVENUE AMOUNTS INCLUDED IN FINANCIALS - OTHER SCHEDULE D, PAGE 4, PART XI, LINE 2D FARESTART PROPERTIES NET REVENUE BOOK-TAX DIFFERENCE 707,747 EXPENSE AMOUNTS INCLUDED IN FINANCIALS - OTHER SCHEDULE D, PAGE 4, PART XII, LINE 2D FARESTART PROPERTIES NET EXPENSE BOOK-TAX DIFFERENCE 1,144,366 SUPPLEMENTAL FINANCIAL INFORMATION SCHEDULE D, PAGE 4, PART XIII THE FARESTART PROPERTIES NET REVENUE BOOK-TAX DIFFERENCE OF 707,747 LISTED ABOVE IS THE RESULT OF THE ORGANIZATION'S FINANCIAL STATEMENTS REPORTED ON A CONSOLIDATED BASIS, WHICH INCLUDES ALL OF FARESTART PROPERTIES LLC ACTIVITY. HOWEVER, FOR TAX PURPOSES, ONLY THE ACTUAL OWNERSHIP PERCENTAGE OF ACTIVITY IS TO BE REPORTED. THE BOOK-TAX DIFFERENCE IS CALCULATED AS FOLLOWS: SCHEDULE K-1 ACTIVITY REPORTED TO ORGANIZATION 14,733,340 LESS: ALL ACTIVITY REPORTED ON CONSOLIDATED FINANCIALS (15,411,087) ----------- TOTAL BOOK-TAX DIFFERENCE OF FARESTART PROPERTIES LLC (707,747) =========== BECAUSE FARESTART PROPERTIES LLC ACTIVITY IS INCLUDED IN VARIOUS REVENUE ACCOUNTS IN THE CONSOLIDATED FINANCIALS, THIS DIFFERENCE IS REPORTED SEPARATELY ON FORM 990, PART VIII, LINE 11B. X X X X X X X true DENNY MILLER ASSOCIATES INC 400 N CAPITOL ST NW WASHINGTON DC 20001 CONSULTING false 20000 -20000 THE COLLINS GROUP INC 501 E PINE ST STE 301 SEATTLE WA 98122 CONSULTING false 14956 -14956 34956 -34956 WA AUCTION 916335 543080 373255 85931 4735 70693 ANNIVERSARY DIN 67188 51938 15250 32605 5575 12163 3 169321 41381 127940 5539 1466 4141 1152844 636399 516445 118536 5539 11776 86997 222848 293597 X X false false false false false false false false false MEGAN KARCH 143851 6307 150158 X 250 191929 DONOR VALUATION X SUPPLIES 120 66969 DONOR VALUATION X AUCTION ITEMS 205 184530 DONOR VALUATION false true false ORGANIZATION'S MISSION FORM 990 - ORGANIZATION'S MISSION FARESTART PROVIDES A COMMUNITY THAT TRANSFORMS LIVES BY EMPOWERING HOMELESS AND DISADVANTAGED MEN, WOMEN AND FAMILIES TO ACHIEVE SELF-SUFFICIENCY THROUGH LIFE SKILLS,JOB TRAINING AND EMPLOYMENT IN THE FOOD SERVICE INDUSTRY. ADDITIONAL INFORMATION FORM 990 FARESTART PRESENTS ITS FINANCIAL STATEMENTS ON A CONSOLIDATED BASIS. THE CONSOLIDATED FINANCIAL STATEMENTS INCLUDE THE ASSETS, LIABILITIES, AND ACTIVITY OF FARESTART PROPERTIES LLC. AS SUCH, FORM 990 PART X PRESENTS THE BALANCE SHEET OF FARESTART ON A CONSOLIDATED BASIS. FORM 990, PART VIII AND FORM 990, PART IX ARE PRESENTED ON AN UNCONSOLIDATED BASIS. DETAILS OF RECONCILING ITEMS ARE INCLUDED IN SCHEDULE D PARTS XI, XII, XIII, AND XIV. ADDITIONALLY, THE CONSOLIDATED FINANCIAL STATEMENTS INCLUDE CHANGES IN NET ASSETS THAT ARE NOT PART OF THE UNRECONCILED FORM 990. THESE ITEMS INCLUDE PRIORTIY RETURN, NET UNREALIZED GAIN/LOSS ON INVESTMENTS, AND TEMPORARILY RESTRICTED ACTIVITIES. THESE DIFFERENCES ARE INCLDUED IN FORM 990, PART XI. FORM 990, SCHEDULE R - ADDITIONAL INFORMATION IN PRIOR YEARS FARESTART GUARANTEED A LOAN FOR FARESTART PROPERTIES LLC. THIS WAS REPORTED ON THE CONSOLIDATED FINANCIAL STATEMENTS (BALANCE SHEET), FORM 990 PART X, AND SCHEDULE R. DURING 2012, AS THE RESULT OF A NEW MARKETS TAX CREDIT UNWIND TRANSACTION, LOANS WERE FORGIVEN, INCLUDING THE GUARANTEED DEBT FOR FARESTART PROPERTIES LLC. FORM 990 - ADDITIONAL INFORMATION IN 2006, FARESTART FINANCED THE CONSTRUCTION OF A 33,000 SQ. FT. FACILITY THROUGH THE USE OF A CAPITAL CAMPAIGN, NEW MARKETS AND HISTORIC TAX CREDIT FUNDING AND STATE FUNDING. ON 12/31/12, THE NEW MARKETS TAX CREDIT WAS UNWOUND RESULTING IN FARESTART BEING THE SOLE OWNER OF FARESTART PROPERTIES, LLC. FIRST ACCOMPLISHMENT DESCRIPTION FORM 990, PAGE 2, PART III, LINE 4A FOOD IN THE COMMUNITY. THROUGH OUR NATIONAL NETWORK, CATALYST KITCHENS, WE WORKED WITH 37 MEMBER ORGANIZATIONS ACROSS THE UNITED STATES AND CANADA ON DEVELOPING THEIR OWN PROGRAMS MODELED ON FARESTART'S SUCCESSFUL SOCIAL ENTERPRISE MODEL. ORGANIZATION'S PROCESS USED TO REVIEW FORM 990 FORM 990, PAGE 6, PART VI, LINE 11B A DRAFT COPY OF THE FORM 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND THE CHIEF FINANCE OFFICER PRIOR TO THE TAX RETURN BEING COMPLETED BY THE OUTSIDE CPA. A COPY OF THE FINAL FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS VIA EMAIL PRIOR TO FILING THE TAX RETURN. ENFORCEMENT OF CONFLICTS POLICY FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION DOES NOT ALLOW MEMBERS OF THE BOARD OF DIRECTORS WHO HAVE CONFLICTS OF INTEREST RELATED TO A SPECIFIC ISSUE TO VOTE ON THAT ISSUE. COMPENSATION PROCESS FOR TOP OFFICIAL FORM 990, PAGE 6, PART VI, LINE 15A THE EXECUTIVE COMMITTEE COMPLETES A 360 DEGREE PERFORMANCE REVIEW AND USES AN OUTSIDE SURVEY SOURCE (THE UNITED WAY OF KING COUNTY SALARY SURVEY OF NON-PROFITS) FOR THE REGION. THE COMMITTEE THEN DISCUSSES THE PERFORMANCE OF THE EXECUTIVE DIRECTOR AND DECIDES ON THE SALARY AS A GROUP. THE EXECUTIVE DIRECTOR DOES NOT PARTICIPATE IN THESE DISCUSSIONS OR DECISIONS. THE EXECUTIVE COMMITTEE THEN MEETS WITH THE EXECUTIVE DIRECTOR TO DISCUSS THE PERFORMANCE EVALUATION AND THE SALARY ADJUSTMENT. GOVERNING DOCUMENTS DISCLOSURE EXPLANATION FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION MAKES ITS ANNUAL AUDITED FINANCIAL STATEMENTS AND IRS FORM 990 AVAILABLE TO THE GENERAL PUBLIC ON ITS WEBSITE. ALL OTHER DOCUMENTS, SUCH AS: CONFLICT OF INTEREST POLICY; ORGANIZATIONAL DOCUMENTS; IRS FORM 1023; AND INTERIM FINANCIAL INFORMATION, ARE MADE AVAILABLE AT THE ORGANIZATION'S ADMINISTRATIVE OFFICE UPON REQUEST. RECONCILIATION OF CHANGES - OTHER FORM 990, PART XI, LINE 9 FARESTART PROPERTIES NET REVENUE BOOK-TAX DIFFERENCE 707,747 FARESTART PROPERTIES NET EXPENSE BOOK-TAX DIFFERENCE -1,144,366 OTHER CHANGES IN NET ASSETS EXPLANATION FORM 990, PART XI, LINE 9 NET UNREALIZED GAINS ON INVESTMENTS 17,855 PRIORITY RETURN 16,191 DECR IN TEMP RESTRICTED ASSETS 37,779 FARESTART PROPERTIES LLC 700 VIRGINIA STREET SEATTLE WA 98101 204392358 RENTAL R/E WA NA EXCLUDED false true 1.00000 false false false false false false false false false false true false false false false false false true false FARESTART PROPERTIES LLC K 94928 FINANCIAL STATEMENTS FARESTART PROPERTIES LLC R SEE SCHEDULE O