Funders

Finances

Statements of Financial Position for 2023

Statements of Activities

Revenue
McKinney Grant Income$111,2635%
Contributions$120,5895%
Residential Rent$999,87145%
Rent Subsidies – Section 8$795,60836%
Management Fees$151,4657%
HPP Revenue$00%
Other Revenue$28,5871%
Developer Fee$00%
Total Revenue$2,207,383100%
 
Expenses
Salaries/Benefits$305,08420%
Management Fees$146,67310%
Utilities$251,67717%
Insurance/Taxes$162,52711%
Other$22,2751%
Accounting/Audit$75,0835%
Maintenance$337,13522%
Case Management$74,1325%
Office$25,8522%
Capital Activities$106,5247%
Total Expenses$1,506,962100%
Depreciation$942,526
 
Assets
Cash & Cash Equivalents$1,187,556
Prepaid Assets$178,534
Accounts Receivable Affiliate$45,317
Buildings and Improvements$31,939,070
Furnishings & Equipment$758,173
Land$1,767,570
Construction in Progress$0
Cash Reserves$2,118,986
Security Deposits$74,099
Investment in LLC-$127
Accrued Interest Receivable – Affiliate$52,170
Notes-Receivable – Affiliate$1,739,032
Investment - Certificate of Deposit$2,000,000
Tax Credit Fees, net of amortization$124,065
Total Assets$41,984,445
Less Accumulated Depreciation-$9,067,989
 
Liabilities
Accounts Payable$85,650
Current Portion of Debt $11,000
Security Deposits$72,739
Accrued Interest$111,750
Notes Payable$5,074,455
Developer Fee0
Total Liabilities$5,355,594

2023

Revenue

Total Revenue: $2,207,383

 

Expenses

Total Expenses: $1,506,962

 

Funding Sources and Levels of Support

Bicycle Apartments (40 one-, 30 two- and 10 three-bedrooms; Permanent)
Nov 2017$14,752,846WSHFC Low-Income Housing Tax Credits
May 2018$1,275,000Commerce Housing Trust Fund – Deferred Loan
Mar 2019$1,000,000Yakima ONDS – Capital Grant
Jun 2019$750,000Federal Home Loan Bank of Des Moines – Capital Grant
$17,777,846
 
Pear Tree Place III (18 one-, 4 two-bedrooms and 2 studios; Permanent)
Feb 2013$2,500,000Commerce Housing Trust Fund – Capital Grant
Jan 2019$350,000NSH – Contribution
Sep 2013$324,000Home Depot Foundation – Capital Grant
Jan 2013$197,978Seattle Federal Home Loan Bank – Capital Grant
$3,371,978
 
Pear Tree Place II (8 two- and 4 four-bedrooms; Permanent)
May 2008$3,427,212Commerce Housing Trust Fund – Capital Grant
Feb 2008$122,678Yakima County 20/60 Funding – Capital Grant
$3,549,890
 
Pear Tree Place I (8 one-, 7 two-, and 11 three-bedrooms; Permanent)
Jan 2006$2,700,000WSHFC Low Income Housing Tax Credits
Nov 2005$1,550,000Commerce Housing Trust Fund – Deferred Capital Grant
Sep 2005$200,000Yakima ONDS – Capital Grant
Oct 2006$161,500Yakima County 20/60 Funding – Capital Grant
Aug 2007$50,000Washington Mutual Foundation – Capital Grant
Sep 2007$48,305Anonymous Donor – Capital Grant
Nov 2006$34,500Enterprise Communities Green Fund – Capital Grant
Oct 2007$25,000Home Depot Foundation – Capital Grant
Jul 2005$21,000Seattle Federal Home Loan Bank – Challenge Grant
Jan 2008$10,000National Endowment for the Arts – Grant
$4,800,305
 
The Sommerset (5 studios, 20 one- and 20 two-bedrooms; Permanent)
 
Lamplighter Apartments (12 one- and 4 two-bedrooms; Permanent)
Jul 2020$336,579Commerce Housing Trust Fund – Preservation Grant
Nov 1998$278,707Commerce Housing Trust Fund – Capital Grant
Sep 2008$250,000Commerce Housing Trust Fund – Capital Grant
Dec 2010$208,050Next Step Housing – Capital Improvements
Apr 1999$75,000Yakima ONDS – Capital Grant
Aug 2010$71,619Next Step Housing – Debt Reduction Grant
Jun 2002$29,939OIC of Washington – Capital Grant
$1,249,894
 
Clean House Apartments (21 studios and 1 one-bedroom; Permanent)
Nov 2007$800,000Commerce Housing Trust Fund – Rehab Grant
Nov 1998$394,399Commerce Housing Trust Fund – Capital Grant
Jun 1998$140,000Seattle Federal Home Loan Bank – Capital Grant
Aug 1998$46,000Impact Capital – Predevelopment Loan
$1,380,399
 
Organizational Grants

2023 Audits

Next Step Housing

 

Bicycle Apartments, LLC