Civic Intelligence

Olympic Housing Trust

EIN 61-1497176 • 501(c)3 • Port Townsend, WA

Profile

We work to provide permanently affordable housing for communities on the North Olympic Peninsula.

PO Box 1537Port Townsend, WA 98368

olympichousingtrust.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

72nd percentile

0.03x

Higher debt load relative to assets than 72% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

82nd percentile

0.10x

Higher debt load relative to revenue than 82% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

86th percentile

40%

Higher net margin than 86% of similar nonprofits.

501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

Score unavailable

No value available

A valid growth rate could not be computed from the available filing history.

Annualized from 2022 to 2023

Revenue Growth

88th percentile

65%

Faster revenue growth than 88% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Assets

Up

$566,078

Up $90,058 (+19%) from 2023

Liabilities

Up

$19,616

Up $4,227 (+27%) from 2023

Net Assets

Up

$546,462

Up $85,831 (+19%) from 2023

Revenue

Up

$348,712

Up $198,937 (+133%) from 2023

Expenses

Up

$262,881

Up $173,286 (+193%) from 2023

Net Income

Up

$85,831

Up $25,651 (+43%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2011: $286,743Liabilities 2011: $3,7962011Assets 2012: $330,141Liabilities 2012: $8,6222012Assets 2013: $322,571Liabilities 2013: $02013Assets 2014: $322,046Liabilities 2014: $02014Assets 2022: $0Net Assets 2022: $70,1312022Assets 2023: $476,020Liabilities 2023: $15,389Net Assets 2023: $460,6312023Assets 2024: $566,078Liabilities 2024: $19,616Net Assets 2024: $546,4622024

Highlighted filing

2024

Assets$566,078
Liabilities$19,616
Net Assets$546,462

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$300K$200K$100K$0Revenue 2011: $19,084Expenses 2011: $16,326Net Income 2011: $2,7582011Revenue 2012: $108,394Expenses 2012: $69,821Net Income 2012: $38,5732012Revenue 2013: $7,295Expenses 2013: $6,274Net Income 2013: $1,0212013Revenue 2014: $5,537Expenses 2014: $5,040Net Income 2014: $4972014Revenue 2022: $90,830Expenses 2022: $20,699Net Income 2022: $70,1312022Revenue 2023: $149,775Expenses 2023: $89,595Net Income 2023: $60,1802023Revenue 2024: $348,712Expenses 2024: $262,881Net Income 2024: $85,8312024

Highlighted filing

2024

Revenue$348,712
Expenses$262,881
Net Income$85,831

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 13, 2025
Return Version
2024v5.0
Gross Receipts
$349,061
Mission and Program Overview

Mission

A community land trust that is rooted in the goal of strengthening a communitys social fabric and resilience through stewarding resources its most vital resources land and housing

We work to provide permanently affordable housing for communities on the North Olympic Peninsula.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$187,346$279,009▲ $91,663
Land, Buildings, and Equipment, Net$276,920$275,524▼ $1,396
Savings and Temporary Cash Investments$11,429$11,435▲ $6
Accounts Receivable$325$110▼ $215
Total Assets$476,020$566,078▲ $90,058
Liabilities
Accounts Payable and Accrued Expenses$15,389$19,616▲ $4,227
Total Liabilities$15,389$19,616▲ $4,227
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$460,631$546,462▲ $85,831
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$460,631$546,462▲ $85,831
Total Liabilities and Net Assets / Fund Balance$476,020$566,078▲ $90,058

Asset Categories

AssetBook ValueDepreciationBasis
Land$271,336-$271,336
Equipment$4,188$2,792$6,980
Buildings$0$0$0
Other Land Buildings$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kathy MorganExecutive Director from Feb 24FT$52,982$52,982

Board Members and Trustees

NameTitle
Theodore HowardPresident
Jesse ThomasVice President
Ben WilsonDirector
Justine PrattDirector
Kristina StimpsonSecratary
Rachael DunnTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Anderson Homes LLCConstruction Services for 5 townhomes80 Murray Ct, Sequim, WA 98382$105,363
Revenue and Support

Revenue Composition

Contributions and Grants
$322,028
Program Service Revenue
$24,957
Investment Income
$6
Other Revenue
$1,721
All Other Contributions
$319,782
Change in Net Assets
$85,831
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$176,281
Salaries, Compensation, and Employee Benefits$58,600
Total Fundraising Expense$28,810
Professional Fundraising Fees$28,000
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$133,951$1,388-$135,339
Current Officers, Directors, Trustees, and Key Employees$26,491$26,491-$52,982
Fees for Services Professional Fundraising--$28,000$28,000
Fees for Services Accounting-$14,261-$14,261
Insurance-$7,597-$7,597
Other Expenses$7,232$0$0$7,232
Payroll Taxes$2,809$2,809-$5,618
Office Expenses-$2,105$810$2,915
Fees for Services Legal$2,660--$2,660
Occupancy$2,152--$2,152
Advertising$1,841$302-$2,143
Depreciation Depletion$1,396--$1,396
Conferences and Meetings-$586-$586
Total Functional Expenses$178,532$55,539$28,810$262,881
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$28,000
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Kellen LynchFamily Member of the Board TreasurerHired as a contractor for fundraising servicesNo$28,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

There are no committees with the authority to act on behalf of the governing body.

Form 990, Part VI, Section B, Line 11B

Olympic Housing Trust provides a full draft of Form 990 to all board members prior to filing. Board members have an opportunity to provide input and ask questions about the 990 prior to filing.

Form 990, Part VI, Section B, Line 12C

All contracts and agreements are committed to with an understanding of the Conflict of Interest policy. Furthermore, our procurement policy was updated in 2024 to meet federal guidelines for solicitation of services.

Form 990, Part VI, Section B, Line 15

The independent Board of Directors worked with Linkedin to research the comparable salaries for the Executive Directors salary.

Form 990, Part VI, Section C, Line 19

Olympic Housing Trust makes its Form 990, Form 1023, governing documents, conflict of interest policy, and financial statements available to the public upon request. In addition, copies of Form 990 are available on public websites such as propublica.org

Filing and Contact Details

Filer

Filer Name
Olympic Housing Trust
EIN
61-1497176
Phone
8326235841
Address
PO Box 1537, Port Townsend, WA 98368

Signing Officer

Name
Kathy Morgan
Title
Executive Director
Phone
3605312555
Signed
2025-05-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ted Howard
Formed
2007
Legal Domicile
Wa
Voting Board Members
6
Independent Board Members
5
Employees
1
Volunteers
150

Preparer

Firm
Rising Sun Accounting
Address
PO Box 25726, Seattle, WA 98165
Preparer
Kirea LaRue
Phone
4074465408
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Construction Contractor: $105,363; Architectural Design: $22,828; Civil Engineering: $4,376 ; Surveying Design: $480, Environmental Analysis:$117; Financing Consultant: $788, Other Services: $1,388

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IRS990/SavingsAndTempCashInvstGrp/BOYAmt011429
IRS990/SavingsAndTempCashInvstGrp/EOYAmt011435
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0322028
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0172433
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt086215
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt04051
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt05185
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0589912
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt06
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt05
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt023
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt066201
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.45590
IRS990ScheduleA/PublicSupportPY170Pct00.46449
IRS990ScheduleA/PublicSupportTotal170Amt0268949
IRS990ScheduleA/SubstantialContributorsTotAmt0320963
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0322028
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0172433
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt086215
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt04051
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt05185
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0589912
IRS990ScheduleA/TotalSupportAmt0589935
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt04188
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02792
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt06980
IRS990ScheduleD/LandGrp/BookValueAmt0271336
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0271336
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0275524
IRS990ScheduleG/AgrmtProfFundraisingActyInd01
IRS990ScheduleG/FundraiserActivityInfoGrp/ActivityTxt0As a contractor, Kellen has sought out, researched, and written applications for various grant opportunities, developed relationships with local donors, planned a capital campaign, and hosted informational and fundraising events.
IRS990ScheduleG/FundraiserActivityInfoGrp/FundraiserControlOfFundsInd00
IRS990ScheduleG/FundraiserActivityInfoGrp/GrossReceiptsAmt0255826
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt0227826
IRS990ScheduleG/FundraiserActivityInfoGrp/PersonNm0Kellen Lynch
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt028000
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/AddressLine1Txt0622 Redwood St
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/CityNm0Port Townsend
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/StateAbbreviationCd0WA
IRS990ScheduleG/FundraiserActivityInfoGrp/USAddress/ZIPCd098368
IRS990ScheduleG/InPersonSolicitationsInd0X
IRS990ScheduleG/LicensedStatesCd0WA
IRS990ScheduleG/SolicitationOfGovtGrantsInd0X
IRS990ScheduleG/SolicitationOfNonGovtGrantsInd0X
IRS990ScheduleG/SpecialFundraisingEventsInd0X
IRS990ScheduleG/TotalGrossReceiptsAmt0255826
IRS990ScheduleG/TotalNetToOrganizationAmt0227826
IRS990ScheduleG/TotalRetainedByContractorsAmt028000
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Kellen Lynch
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Family Member of the Board Treasurer
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt028000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Hired as a contractor for fundraising services
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0There are no committees with the authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Olympic Housing Trust provides a full draft of Form 990 to all board members prior to filing. Board members have an opportunity to provide input and ask questions about the 990 prior to filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All contracts and agreements are committed to with an understanding of the Conflict of Interest policy. Furthermore, our procurement policy was updated in 2024 to meet federal guidelines for solicitation of services.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The independent Board of Directors worked with Linkedin to research the comparable salaries for the Executive Directors salary.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Olympic Housing Trust makes its Form 990, Form 1023, governing documents, conflict of interest policy, and financial statements available to the public upon request. In addition, copies of Form 990 are available on public websites such as propublica.org
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Construction Contractor: $105,363; Architectural Design: $22,828; Civil Engineering: $4,376 ; Surveying Design: $480, Environmental Analysis:$117; Financing Consultant: $788, Other Services: $1,388
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, Line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0476020
IRS990/TotalAssetsEOYAmt0566078
IRS990/TotalAssetsGrp/BOYAmt0476020

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