Civic Intelligence

Methow Housing Trust

990 • Fiscal year 2022 • EIN 82-0855915

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 14, 2023

31 West Chewuch Road Suite 102Winthrop, WA 98862

(509) 996-5943

Siviq Scores

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

Liabilities / Assets

21st percentile

0.02x

Higher debt load relative to assets than 21% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

42nd percentile

0.16x

Higher debt load relative to revenue than 42% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

65th percentile

15%

Higher net margin than 65% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

20th percentile

$87,235

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 5.1% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

57th percentile

3.0%

Faster asset growth than 57% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

3rd percentile

-76%

Faster revenue growth than 3% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$12,352,835

Up $357,858 (+3.0%) from 2021

Net Assets

Up

$12,082,830

Up $199,527 (+1.7%) from 2021

Liabilities

Up

$270,005

Up $158,331 (+142%) from 2021

Revenue

Down

$1,707,052

Down $5,509,402 (-76%) from 2021

Expenses

Up

$1,451,951

Up $1,225,600 (+541%) from 2021

Net Income

Down

$255,101

Down $6,735,002 (-96%) from 2021

Historical Trend

Balance Sheet Trend

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

$20M$15M$10M$5.0M$0Assets 2017: $1,355,590Liabilities 2017: $230,677Net Assets 2017: $1,124,9132017Assets 2018: $2,480,063Liabilities 2018: $231,206Net Assets 2018: $2,248,8572018Assets 2019: $3,014,655Liabilities 2019: $7,490Net Assets 2019: $3,007,1652019Assets 2020: $4,887,158Liabilities 2020: $13,958Net Assets 2020: $4,873,2002020Assets 2021: $11,994,977Liabilities 2021: $111,674Net Assets 2021: $11,883,3032021Assets 2022: $12,352,835Liabilities 2022: $270,005Net Assets 2022: $12,082,8302022Assets 2023: $15,091,610Liabilities 2023: $598,124Net Assets 2023: $14,493,4862023Assets 2024: $17,270,551Liabilities 2024: $79,895Net Assets 2024: $17,190,6562024

Highlighted filing

2022

Assets$12,352,835
Liabilities$270,005
Net Assets$12,082,830

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0Revenue 2017: $1,178,403Expenses 2017: $53,490Net Income 2017: $1,124,9132017Revenue 2018: $1,266,016Expenses 2018: $142,072Net Income 2018: $1,123,9442018Revenue 2019: $960,572Expenses 2019: $196,126Net Income 2019: $764,4462019Revenue 2020: $2,080,404Expenses 2020: $214,369Net Income 2020: $1,866,0352020Revenue 2021: $7,216,454Expenses 2021: $226,351Net Income 2021: $6,990,1032021Revenue 2022: $1,707,052Expenses 2022: $1,451,951Net Income 2022: $255,1012022Revenue 2023: $3,949,958Expenses 2023: $473,081Net Income 2023: $3,476,8772023Revenue 2024: $3,141,628Expenses 2024: $483,750Net Income 2024: $2,657,8782024

Highlighted filing

2022

Revenue$1,707,052
Expenses$1,451,951
Net Income$255,101
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 14, 2023
Return Version
2022v5.0
Gross Receipts
$3,250,701
Mission and Program Overview

Mission

The Methow Housing Trust develops and preserves affordable, quality housing for residents of the Methow Valley.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$6,669,410$4,830,192▼ $1,839,218
Land, Buildings, and Equipment, Net$2,888,526$4,368,314▲ $1,479,788
Inventories for Sale or Use$1,260,324$2,567,762▲ $1,307,438
Investments Other Securities$238,834$292,366▲ $53,532
Cash and Non-Interest-Bearing Accounts$888,546$250,335▼ $638,211
Prepaid Expenses and Deferred Charges$1,459$4,640▲ $3,181
Other Notes and Loans Receivable, Net$47,878$1,527▼ $46,351
Accounts Receivable-$837-
Total Assets$11,994,977$12,352,835▲ $357,858
Other Assets Total$0$36,862▲ $36,862
Liabilities
Accounts Payable and Accrued Expenses$111,674$232,223▲ $120,549
Other Liabilities$0$37,782▲ $37,782
Total Liabilities$111,674$270,005▲ $158,331
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$10,504,322$11,263,849▲ $759,527
Net Assets With Donor Restrictions$1,378,981$818,981▼ $560,000
Total Net Assets Fund Balance$11,883,303$12,082,830▲ $199,527
Total Liabilities and Net Assets / Fund Balance$11,994,977$12,352,835▲ $357,858

Asset Categories

AssetBook ValueDepreciationBasis
Land$4,368,314-$4,368,314
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Danica ReadyExecutive DirectorFT$87,235$87,235

Board Members and Trustees

NameTitle
Phil DavisPresident
Rocklynn CulpVice President
Bill PopeDirector
Chris MooreDirector
John BattleDirector
Madeleine EckmannDirector
Maureen CollinsDirector
Nancy Nash MendezDirector
Teresa MitchellSecretary
John BlissTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,168,109
Program Service Revenue
$27,613
Investment Income
$10,376
Other Revenue
$-499,046
All Other Contributions
$2,168,109
Change in Net Assets
$255,101
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,095,489
Salaries, Compensation, and Employee Benefits$356,462
Total Fundraising Expense$50,318
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$176,286$21,498$17,198$214,982
Current Officers, Directors, Trustees, and Key Employees$69,787$8,724$8,724$87,235
Other Employee Benefits$24,471$3,021$2,719$30,211
Payroll Taxes$19,467$2,403$2,164$24,034
Occupancy$10,026$9,454$574$20,054
Fees for Services Accounting-$15,190-$15,190
Travel$7,438--$7,438
Office Expenses$2,130$1,066$1,066$4,262
Insurance-$4,227-$4,227
Conferences and Meetings$1,387$1,387-$2,774
Information Technology$1,077$1,077-$2,154
Other Expenses$6,593$1,640$17,873$1,640
All Other Expenses$1,298--$1,298
Advertising$643--$643
Fees for Services Other$32--$32
Total Functional Expenses$1,331,946$69,687$50,318$1,451,951
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Operating Lease Liabilities$37,782
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
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
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The members elect the members of the governing body.

Form 990, Part VI, Section A, Line 7A

Members vote for elections of officers.

Form 990, Part VI, Section A, Line 7B

Members vote to approve some types of policy changes.

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

Form 990 is provided to the executive committee for review before filing.

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

Board members read the conflict of interest policy then sign a document acknowledging that they have read the policy.

Form 990, Part VI, Section B, Line 15A

Executive committee recommends the executive director compensation, but the full board decides.

Form 990, Part VI, Section C, Line 19

Governing documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Methow Housing Trust
EIN
82-0855915
Phone
5099965943
Address
31 WEST CHEWUCH ROAD SUITE 102, WINTHROP, WA 98862

Signing Officer

Name
Simon Windell
Title
Chief Operating Officer
Phone
5099965943
Signed
2023-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Simon Windell
Formed
2017
Legal Domicile
Wa
Voting Board Members
10
Independent Board Members
10
Employees
5
Volunteers
5

Preparer

Firm
Cordell Neher & Company Pllc
Address
PO BOX 3068, WENATCHEE, WA 98807-3068
Preparer
Sean M Patton CPA
Phone
5096631661
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The trust has adopted the provisions of fasb asc 740-10. Management has evaluted the trust's tax positions an concluded the trust has taken no uncertain tax positions requiring adjustment to the financial statements to comply with these provisions. With few exceptions, the trust is no longer subject to income tax examinations by u.s. Federal tax authorities for the years before 2019.

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IRS990/OtherExpensesGrp/ProgramServicesAmt01011311
IRS990/OtherExpensesGrp/ProgramServicesAmt16593
IRS990/OtherExpensesGrp/TotalAmt01011311
IRS990/OtherExpensesGrp/TotalAmt117873
IRS990/OtherExpensesGrp/TotalAmt26593
IRS990/OtherExpensesGrp/TotalAmt31640
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt037782
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt017198
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt021498
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0176286
IRS990/OtherSalariesAndWagesGrp/TotalAmt0214982
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt047878
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt01527
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt02164
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02403
IRS990/PayrollTaxesGrp/ProgramServicesAmt019467
IRS990/PayrollTaxesGrp/TotalAmt024034
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt06669410
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt04830192
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01459
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt04640
IRS990/PrincipalOfficerNm0SIMON WINDELL
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0230000
IRS990/ProgramServiceRevenueGrp/Desc0HOME OWNERSHIP FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt027613
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt027613
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt07451854
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt02028
IRS990/PYOtherExpensesAmt075123
IRS990/PYOtherRevenueAmt0-254449
IRS990/PYProgramServiceRevenueAmt017021
IRS990/PYRevenuesLessExpensesAmt06990103
IRS990/PYSalariesCompEmpBnftPaidAmt0151228
IRS990/PYTotalExpensesAmt0226351
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt07216454
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0255101
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0-471433
IRS990ScheduleA/CommunityTrustInd0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt02168109
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt07451854
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt02702112
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01627768
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01266016
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt015215859
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt011348
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02028
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0795
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt014171
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt04038411
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IRS990ScheduleA/PublicSupportTotal170Amt015170460
IRS990ScheduleA/SubstantialContributorsTotAmt045399
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02168109
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt07451854
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt02702112
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01627768
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01266016
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt015215859
IRS990ScheduleA/TotalSupportAmt015230030
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/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt04368314
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt04368314
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt037782
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0RIGHT OF USE OPERATING LEASE LIABILITIES
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE TRUST HAS ADOPTED THE PROVISIONS OF FASB ASC 740-10. MANAGEMENT HAS EVALUTED THE TRUST'S TAX POSITIONS AN CONCLUDED THE TRUST HAS TAKEN NO UNCERTAIN TAX POSITIONS REQUIRING ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THESE PROVISIONS. WITH FEW EXCEPTIONS, THE TRUST IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL TAX AUTHORITIES FOR THE YEARS BEFORE 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04368314
IRS990ScheduleD/TotalLiabilityAmt037782
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MEMBERS ELECT THE MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS VOTE FOR ELECTIONS OF OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBERS VOTE TO APPROVE SOME TYPES OF POLICY CHANGES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3FORM 990 IS PROVIDED TO THE EXECUTIVE COMMITTEE FOR REVIEW BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOARD MEMBERS READ THE CONFLICT OF INTEREST POLICY THEN SIGN A DOCUMENT ACKNOWLEDGING THAT THEY HAVE READ THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EXECUTIVE COMMITTEE RECOMMENDS THE EXECUTIVE DIRECTOR COMPENSATION, BUT THE FULL BOARD DECIDES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt011994977
IRS990/TotalAssetsEOYAmt012352835
IRS990/TotalAssetsGrp/BOYAmt011994977
IRS990/TotalAssetsGrp/EOYAmt012352835
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02168109
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt050318
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt069687
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01331946
IRS990/TotalFunctionalExpensesGrp/TotalAmt01451951
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0111674
IRS990/TotalLiabilitiesEOYAmt0270005
IRS990/TotalLiabilitiesGrp/BOYAmt0111674
IRS990/TotalLiabilitiesGrp/EOYAmt0270005
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt011883303
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt012082830
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01331946
IRS990/TotalProgramServiceRevenueAmt027613
IRS990/TotalReportableCompFromOrgAmt087235
IRS990/TotalRevenueGrp/ExclusionAmt010376
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0-471433
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01707052

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