Civic Intelligence

Olympic Housing Trust

990 • Fiscal year 2023 • EIN 61-1497176

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 14, 2024

Organization Profileolympichousingtrust.org
PO Box 1537Port Townsend, WA 98368

(832) 623-5841

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

73rd percentile

0.03x

Higher debt load relative to assets than 73% of similar nonprofits.

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

Liabilities / Revenue

83rd percentile

0.10x

Higher debt load relative to revenue than 83% of similar nonprofits.

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

Net Margin

87th percentile

40%

Higher net margin than 87% of similar nonprofits.

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

Top Officer Pay

79th percentile

$2,293

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

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

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

84th percentile

65%

Faster revenue growth than 84% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets73rd percentile

Assets

Up

$476,020

Up $476,020 from 2022

Net Assets

Up

$460,631

Up $390,500 (+557%) from 2022

Liabilities

$15,389

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin87th percentile

Revenue

Up

$149,775

Up $58,945 (+65%) from 2022

Expenses

Up

$89,595

Up $68,896 (+333%) from 2022

Net Income

Down

$60,180

Down $9,951 (-14%) from 2022

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2023

Assets$476,020
Liabilities$15,389
Net Assets$460,631
Open 2023 Filing

Operations Trend

Revenue Growth84th percentile

Revenue, expenses, and net income across loaded years, with this 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

2023

Revenue$149,775
Expenses$89,595
Net Income$60,180
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 14, 2024
Return Version
2023v5.0
Gross Receipts
$203,194
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
Land, Buildings, and Equipment, Net$330,399$276,920▼ $53,479
Cash and Non-Interest-Bearing Accounts$74,063$187,346▲ $113,283
Savings and Temporary Cash Investments$7,102$11,429▲ $4,327
Accounts Receivable$1$325▲ $324
Total Assets$411,565$476,020▲ $64,455
Liabilities
Accounts Payable and Accrued Expenses$11,114$15,389▲ $4,275
Total Liabilities$11,114$15,389▲ $4,275
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$400,451$460,631▲ $60,180
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$400,451$460,631▲ $60,180
Total Liabilities and Net Assets / Fund Balance$411,565$476,020▲ $64,455

Asset Categories

AssetBook ValueDepreciationBasis
Land$271,336-$271,336
Equipment$5,584$1,396$6,980
Buildings$0$0$0
Other Land Buildings$0$0$0
Leasehold Improvements$0$0$0
Compensation and Service Providers
Top Officer Pay79th percentile

Employees

NameTitleBaseTotal
Rachael DunnTreasurer$2,293$2,293
Jesse ThomasPresident$300$300
Kristina StimpsonDirector$300$300

Board Members and Trustees

NameTitle
Ben WilsonDirector
Justine PrattDirector
Teri NomuraDirector
Theodore HowardSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$172,433
Program Service Revenue
$0
Investment Income
$-23,835
Other Revenue
$1,177
All Other Contributions
$169,053
Change in Net Assets
$60,180
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$49,561
Total Fundraising Expense$27,633
Professional Fundraising Fees$27,232
Salaries, Compensation, and Employee Benefits$12,002
Grants and Similar Amounts Paid$800

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$33,112--$33,112
Fees for Services Professional Fundraising--$27,232$27,232
Other Salaries and Wages$5,548$2,643-$8,191
Insurance-$5,226-$5,226
Travel$3,548--$3,548
Current Officers, Directors, Trustees, and Key Employees$2,893--$2,893
Office Expenses$46$1,904$401$2,351
Fees for Services Accounting-$1,721-$1,721
Depreciation Depletion$1,396--$1,396
Occupancy$1,183--$1,183
Payroll Taxes$622$296-$918
Grants to Domestic Orgs$800--$800
Other Expenses$658$0$0$658
Advertising$116$250-$366
Total Functional Expenses$49,922$12,040$27,633$89,595
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$27,232
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
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$27,232
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
Yes
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
Yes
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 reviewed and approved hourly rates that board members would receive for attending trainings in 2023.”

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
2024-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jesse Thomas
Formed
2007
Legal Domicile
Wa
Voting Board Members
6
Independent Board Members
5
Employees
1
Volunteers
15

Preparer

Firm
Rising Sun Accounting
Address
PO Box 25726, Seattle, WA 98165
Preparer
Samuel Dahlin
Phone
2069395442
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Architecture Design: $24,617; Civil Engineering: $2,975; Surveying Design: $2,445, Environmental Analysis: $2,100, Other Contract Services: $975”

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IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt07102
IRS990/SavingsAndTempCashInvstGrp/EOYAmt011429
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0172433
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt086215
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt04051
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt05185
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt05814
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt0273698
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt04
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt05
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt011
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt028
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt040524
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.46449
IRS990ScheduleA/PublicSupportPY170Pct00.5
IRS990ScheduleA/PublicSupportTotal170Amt0127143
IRS990ScheduleA/SubstantialContributorsTotAmt0146555
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0172433
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt086215
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt04051
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt05185
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt05814
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0273698
IRS990ScheduleA/TotalSupportAmt0273726
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
IRS990ScheduleC/DirectContactLegislatorsInd00
IRS990ScheduleC/GrantsOtherOrganizationsAmt0800
IRS990ScheduleC/GrantsOtherOrganizationsInd01
IRS990ScheduleC/MailingsMembersInd00
IRS990ScheduleC/MediaAdvertisementsInd00
IRS990ScheduleC/NotDescribedSection501c3Ind00
IRS990ScheduleC/OtherActivitiesInd00
IRS990ScheduleC/PaidStaffOrManagementInd00
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0Olympic Housing Trust was approached by NWCLTC, the organization that put on the Community Land Trust educational meetings, to aid in their advocacy for affordable housing. Olympic Housing Trust provided a $800 grant to NWCLTC to aid in their work to advocate for state appropriations through county grants and HTF funding ops.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule C, Part II-B, Line 1
IRS990ScheduleC/TotalLobbyingExpendituresAmt0800
IRS990ScheduleC/VolunteersInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt05584
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01396
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/TotalBookValueLandBuildingsAmt0276920
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/GrossReceiptsAmt0126790
IRS990ScheduleG/FundraiserActivityInfoGrp/NetToOrganizationAmt099558
IRS990ScheduleG/FundraiserActivityInfoGrp/PersonNm0Kellen Lynch
IRS990ScheduleG/FundraiserActivityInfoGrp/RetainedByContractorAmt027232
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/TotalGrossReceiptsAmt0126790
IRS990ScheduleG/TotalNetToOrganizationAmt099558
IRS990ScheduleG/TotalRetainedByContractorsAmt027232
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0Kellen Lynch
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Family Member of the Board Treasurer
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt027232
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 reviewed and approved hourly rates that board members would receive for attending trainings in 2023.
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/ExplanationTxt5Architecture Design: $24,617; Civil Engineering: $2,975; Surveying Design: $2,445, Environmental Analysis: $2,100, Other Contract Services: $975
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

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$476,020
Liabilities
$15,389
Net assets
$460,631
Revenue
$149,775
Expenses
$89,595
Net income
$60,180
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.66$0.20$5.46$3.49$2.63$0.86
2023Detailed filing. Detailed filing data is available for this year.$4.76$0.15$4.61$1.50$0.90$0.60
2022Detailed filing. Detailed filing data is available for this year.$0.00$0.70$0.91$0.21$0.70
2014Summary only. Only limited summary data is available for this year.$3.22$0.00$0.06$0.05$0.00
2013Summary only. Only limited summary data is available for this year.$3.23$0.00$0.07$0.06$0.01
2012Summary only. Only limited summary data is available for this year.$3.30$0.09$1.08$0.70$0.39
2011Summary only. Only limited summary data is available for this year.$2.87$0.04$0.19$0.16$0.03