Funders

Finances

Statements of Financial Position for 2018

Statements of Activities

Revenue

$507,796

$168,499

$99,122

$82,851

$26,296

$12,605

$897,169

57%

19%

11%

9%

3%

1%

100%

Residential Rent

Rent Subsidies – Section 8

McKinney Grant Income

Management Fees

Other Revenue

Contributions

Total Revenue

Expenses

$156,681

$137,209

$111,647

$63,059

$54,602

$35,251

$34,945

$13,350

$10,257

$9,035

$626,036

25%

22%

18%

10%

9%

6%

6%

2%

1%

1%

100%

Salaries/Benefits

Maintenance

Utilities

Management Fees

Case Management

Insurance/Taxes

Accounting/Audit

Interest

Professional Fees/Travel

Office/Advertising

Total Expenses

 Assets

$11,362,637

$1,319,879

$802,604

$461,500

$395,569

$367,839

$245,914

$152,385

$103,460

$33,028

$23,549

$11,380

$15,279,744

-$3,580,736

Buildings and Improvements

Land

Cash Reserves

Notes-Receivable – Affiliate

Furnishings and Equipment

Construction in Progress

Cash and Cash Equivalents

Investment in LLC

Accrued Interest Receivable – Affiliate

Security Deposits

Prepaid Assets

Accounts Receivable Affiliate

Total Assets

Accumulated Depreciation

Liabilities

$906,348

$376,483

$33,003

$29,787

$17,610

$1,363,231

Current Portion of Long-Term Debt

Long-Term Debt

Security Deposits

Construction in Progress

Accounts Payable

Total Liabilities

Updated December 2018

2018

Revenue

Total: $897,169

Expenses

Total: $626,036

Funding Sources and Levels of Support

Bicycle Apartments, LLC

(40 one-, 30 two-bedrooms and 10 three-bedrooms; Permanent)

$14,752,846

$1,275,000

$1,000,000

$750,000

$17,777,846

Mar 2018

Aug 2019

Jan 2019

Apr 2018

WSHFC Low Income Housing Tax Credits

Commerce Housing Trust – Deferred Capital Grant

Yakima ONDS – Capital Grant

Federal Home Loan Bank of Des Moines – Capital Grant

Pear Tree Place III

(18 one-, 4 two-bedrooms and 2 studios; Permanent)

$2,500,000

$350,000

$324,000

$197,978

$3,371,978

Feb 2013

Jan 2019

Sept 2013

Jan 2013

Commerce Housing Trust Fund – Capital Grant

NSH – Contribution

Home Depot Foundation – Capital Grant

Seattle Federal Home Loan Bank – Capital Grant

Pear Tree Place II

(8 two- and 4 four-bedrooms; Permanent)

$3,427,212

$122,678

$3,549,890

May 2008

Feb 2008

Commerce Housing Trust Fund – Capital Grant

Yakima County 20/60 Funding – Capital Grant

Pear Tree Place I

(8 one-, 7 two-, and 11 three-bedrooms; Permanent)

$2,700,000

$1,550,000

$200,000

$161,500

$50,000

$48,305

$34,500

$25,000

$21,000

$10,000

$4,800,305

Jan 2006

Nov 2005

Sept 2005

Oct 2006

Aug 2007

Sept 2007

Nov 2006

Oct 2007

Jul 2005

Jan 2008

 

WSHFC Low Income Housing Tax Credits

Commerce Housing Trust Fund – Deferred Capital Grant

Yakima ONDS – Capital Grant

Yakima County 20/60 Funding – Capital Grant

Washington Mutual Foundation – Capital Grant

Anonymous Donor – Capital Grant

Enterprise Communities Green Fund – Capital Grant

Home Depot Foundation – Capital Grant

Seattle Federal Home Loan Bank – Challenge Grant

National Endowment for the Arts – Grant

The Sommerset

(5 studios, 20 one- and 20 two-bedrooms; Permanent)

$1,572,000

$549,308

$402,354

$400,000

$549,189

$96,751

$85,000

$17,575

$3,672,177

Jun 2003

Dec 2001

Dec 2002

Aug 2004

Aug 2009

Jan 2003

May 2010

Nov 2002

Commerce Housing Trust Fund – Capital Grant

Commerce Housing Trust Fund – Preservation Grant

McKinney Homeless Fund – Capital Grant

Seattle Federal Home Loan Bank – Capital Grant

NSH – Contribution

OIC of Washington – Capital Grant

Yakima ONDS – Capital Grant

US Bancorp – Capital Grant

Lamplighter Apartments

(12 one- and 4 two-bedrooms; Permanent)

$336,579

$278,707

$250,000

$208,050

$75,000

$71,619

$29,939

$1,249,894

Jul 2020

Nov 1998

Sep 2008

Dec 2010

Apr 1999

Aug 2010

Jun 2002

Commerce Housing Trust Fund –Preservation Grant

Commerce Housing Trust Fund – Capital Grant

Commerce Housing Trust Fund – Capital Grant

Next Step Housing – Capital Improvements

Yakima ONDS – Capital Grant

Next Step Housing – Debt Reduction Grant

OIC of Washington – Capital Grant

Clean House Apartments

(21 studios and 1 one-bedroom; Permanent)

$800,000

$394,399

$140,000

$46,000

$1,380,399

Nov 2007

Nov 1998

Jun 1998

Aug 1998

 

Commerce Housing Trust Fund – Rehab Grant

Commerce Housing Trust Fund – Capital Grant

Seattle Federal Home Loan Bank – Capital Grant

Impact Capital – Predevelopment Loan

Organizational Grants

$795,207

$372,937

$433,043

$238,640

$10,641

$1,850,468

Ongoing

Ongoing

Oct 2011

Jun 2012

Nov 2014

McKinney Homeless Fund – Ops Grant Sommerset

McKinney Homeless Fund – Ops Grant PTP III

Commerce O&M Program – Ops Grant

Commerce Buydown – Rent Assistance

Yakima Housing Authority – Donation

Total

$37,652,957

as of March 2021

© Next Step Housing. Site Design by Ian Carey.