2011-10-12T18:21:52-05:00 2010-12-31 PETERSON SULLIVAN LLP CPA'S 601 UNION ST STE 2300 SEATTLE WA 981012345 990 2010-01-01 911565651 HOMESTEAD COMMUNITY LAND TRUST HOME 2063231227 2524 16TH AVENUE SOUTH NO 300 SEATTLE WA 98144 SHELDON COOPER 2063231227 2011-10-07 1 RAYMON G HOLMDAHL 2063827777 2011-10-07 2010 2016-03-07 17:11:31Z SHELDON COOPER 2524 16TH AVENUE SOUTH NO 300 SEATTLE WA 98144 1372058 0 X WWW.HOMESTEADCLT.ORG X 1992 WA TO CREATE AND PERMANENTLY PERSERVE AFFORDABLE HOMEOWNERSHIP FOR LOW AND MODERATE INCOME HOUSEHOLDS PRICED OUT OF THE MARKETPLACE AND SUPPORT THEIR ONGOING SUCCESS THROUGH EDUCATION, COUNSELING, REFERRAL AND ADVOCACY. HOMESTEAD HAD 102 HOMES IN ITS PORTFOLIO AT THE END OF 2010 AND EXPECTS TO HAVE OVER 130 BY THE END OF 2011. 7 7 7 25 0 0 983612 1195412 103985 176202 1010 440 -7525 -3060 1081082 1368994 0 0 0 0 180175 192317 0 0 24875 54143 83645 234318 275962 846764 1093032 4023515 6899236 1690646 3473335 2332869 3425901 X TO CREATE AND PERMANENTLY PERSERVE AFFORDABLE HOMEOWNERSHIP FOR LOW AND MODERATE INCOME HOUSEHOLDS PRICED OUT OF THE MARKETPLACE AND SUPPORT THEIR ONGOING SUCCESS THROUGH EDUCATION, COUNSELING, REFERRAL AND ADVOCACY. HOMESTEAD HAD 102 HOMES IN ITS PORTFOLIO AT THE END OF 2010 AND EXPECTS TO HAVE OVER 130 BY THE END OF 2011. 0 1 166440 176202 TO CREATE AND PERMANENTLY PERSERVE AFFORDABLE HOMEOWNERSHIP FOR LOW AND MODERATE INCOME HOUSEHOLDS PRICED OUT OF THE MARKETPLACE AND TO SUPPORT THEIR ONGOING SUCCESS THROUGH EDUCATION, COUNSELING, REFERRAL AND ADVOCACY. HOMESTEAD HAD 102 HOMES IN ITS PORTFOLIO AT THE END OF 2010 AND EXPECTS TO HAVE OVER 130 BY THE END OF 2011. DURING 2010 HOMESTEAD ASSISTED 40 HOUSEHOLDS TO PURCHASE THEIR FIRST HOMES. 166440 1 1 0 1 0 0 0 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 0 0 0 1 0 0 0 1 0 0 0 0 0 1 12 0 1 7 1 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 0 1 1 1 0 0 1 1 0 WA X X SHELDON COOPER 2063231227 2524 16TH AVENUE SOUTH SEATTLE WA 98144 GEOV PARRISH 1.00 X X 0 0 0 CHRIS LAROCHE 1.00 X X 0 0 0 PHILIPPA NYE 1.00 X X 0 0 0 PETER NEVIN 1.00 X X 0 0 0 SIOBHAN RING 1.00 X 0 0 0 JEFF STEDMAN 1.00 X 0 0 0 ADAM WIENER 1.00 X 0 0 0 SHELDON COOPER 40.00 X 48000 0 3847 48000 0 3847 0 0 0 0 0 14515 208123 972774 868880 1195412 PROJECT DEVELOPEMENT 531390 140104 140104 LEASE PAYMENTS 531110 35573 35573 PROGRAM FEES 531390 525 525 176202 440 440 0 14515 3064 -3064 -3064 MISCELLANEOUS 900099 4 4 4 1368994 176202 0 -2620 51847 36375 11898 3574 118371 83048 27163 8160 7970 5592 1829 549 14129 9913 3242 974 19101 19101 30541 7931 13231 9379 547 384 125 38 7907 5559 1802 546 1638 1149 376 113 11484 8057 2635 792 2157 1513 495 149 1096 768 252 76 749 749 DUES AND SUBSCRIPTIONS 3240 2273 744 223 LICENSES AND PERMITS 2625 1842 602 181 BANK SERVICE CHARGES 1420 996 326 98 MISCELLANEOUS 805 805 FOOD 335 235 77 23 275962 166440 84647 24875 57418 11225 90928 165852 34344 45420 86832 4415 4369 8170 6597626 4813 3820965 6592813 4023515 6899236 5646 20536 1685000 3452799 1690646 3473335 X 2310892 3366116 21977 59785 2332869 3425901 4023515 6899236 1093032 0 X X 0 1 1 X 1 1 X 167419 506348 688959 983612 1195412 3541750 167419 506348 688959 983612 1195412 3541750 3541750 2377 2434 1238 1010 440 7499 25 4 29 3549278 419279 0.99790 0.99740 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 501 0 0 501 0 6591729 6591729 5897 4813 1084 6592813 X 15 868880 APPRAISAL 0 0 0 CHANGES IN PROGRAM SERVICES FORM 990, PART III, LINE 3 IN 2010, HOMESTEAD BEGAN TO UNDERTAKE HOUSING DEVELOPMENT WORK ITSELF WITH ITS WOLCOTT HOMES PROJECT AS A NEW STRATEGY FOR ADDING HOMES TO THE LAND TRUST PORTFOLIO. IN THE PAST IT HAD RELIED ONLY ON DEVELOPMENT PARTNERSHIPS AND ITS BUYER-DRIVEN PROGRAM FOR ITS PORTFOLIO EXPANSION. 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 BYLAWS 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 11 THE EXECUTIVE DIRECTOR REVIEWS THE 990 AND COMPARES TO THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 12C OFFICERS AND KEY EMPLOYEES SIGN THE STATEMENT ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 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 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART I AND PART IX FOR 2010 AND 2009, HOMESTEAD UTILIZED $1,014,130 AND $803,000, RESPECTIVELY, OF ITS REVENUE (THROUGH GRANTS FOR LAND PURCHASES AND LAND CONTRIBUTIONS) FOR ITS CORE PROGRAM RELATED TO THE PURPOSE OF ACQUIRING LAND AND AFFORDABILITY COVENANTS TO CREATE AFFORDABLE HOUSING. THESE ACQUISITIONS ARE REPORTED AS ORGANIZATIONAL ASSETS, NOT EXPENSES. IN 2010 AND 2009, THIS ACCOUNTING TREATMENT REMOVES 86% AND 88%, RESPECTIVELY, OF HOMESTEAD'S PROGRAM RELATED FINANCIAL ACTIVITY FROM ITS STATEMENT OF FUNCTIONAL EXPENSES. FOR 2010, THIS RESULTS IN PROGRAM SERVICE EXPENSES REPORTED AT 60% OF TOTAL EXPENSES, BUT WHEN THESE COSTS ARE INCLUDED, HOMESTEAD DEDICATED 91% OF ITS REVENUES TO PROGRAM RELATED SERVICES. LIKEWISE, EXPENSES RELATED TO MANAGEMENT AND GENERAL AND FUNDRAISING AS A PERCENTAGE OF OVERALL EXPENSES ARE SKEWED SIGNIFICANTLY UPWARD TO 30% AND 10%, RESPECTIVELY, WHERE THEY WOULD BE 7% AND 2%, RESPECTIVELY, IF THE VALUE OF LAND PURCHASES WERE TREATED AS AN EXPENSE. HCLT WOLCOTT LLC 2524 16TH AVE S 300 SEATTLE WA 98144 911565651 DEVELOP AFFORDABLE HOUSING WA 0 1544226 HOMESTEAD COMMUNITY LAND TRUST