Civic Intelligence

Housing Lopez

990 • Fiscal year 2024 • EIN 83-1734958

Jan 01, 2024 to Dec 31, 2024 • Filed on Mar 24, 2025

Organization Profilehousinglopez.org
PO Box 493Lopez Island, WA 98261

(425) 922-3980

Siviq Scores

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

Liabilities / Assets

39th percentile

0.06x

Higher debt load relative to assets than 39% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

30th percentile

0.06x

Higher debt load relative to revenue than 30% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

88th percentile

45%

Higher net margin than 88% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2024

Asset Growth

95th percentile

83%

Faster asset growth than 95% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

98th percentile

421%

Faster revenue growth than 98% of similar nonprofits.

2024 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets39th percentile

Assets

Up

$8,955,728

Up $4,070,828 (+83%) from 2023

Net Assets

Up

$8,385,022

Up $4,083,441 (+95%) from 2023

Liabilities

Down

$570,706

Down $12,613 (-2.2%) from 2023

Revenue And Expenses
Liabilities / Revenue30th percentileNet Margin88th percentile

Revenue

Up

$9,055,781

Up $7,318,503 (+421%) from 2023

Expenses

Up

$4,972,340

Up $4,512,942 (+982%) from 2023

Net Income

Up

$4,083,441

Up $2,805,561 (+220%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth95th percentile

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

$10M$5.0M$0Assets 2019: $287,077Liabilities 2019: $0Net Assets 2019: $287,0772019Assets 2020: $507,345Liabilities 2020: $0Net Assets 2020: $507,3452020Assets 2021: $2,287,302Liabilities 2021: $603,698Net Assets 2021: $1,683,6042021Assets 2022: $3,618,127Liabilities 2022: $594,426Net Assets 2022: $3,023,7012022Assets 2023: $4,884,900Liabilities 2023: $583,319Net Assets 2023: $4,301,5812023Assets 2024: $8,955,728Liabilities 2024: $570,706Net Assets 2024: $8,385,0222024

Highlighted filing

2024

Assets$8,955,728
Liabilities$570,706
Net Assets$8,385,022
Open 2024 Filing

Operations Trend

Revenue Growth98th percentile

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

$10M$5.0M$0Revenue 2019: $315,770Expenses 2019: $39,246Net Income 2019: $276,5242019Revenue 2020: $367,553Expenses 2020: $147,286Net Income 2020: $220,2672020Revenue 2021: $1,205,303Expenses 2021: $29,044Net Income 2021: $1,176,2592021Revenue 2022: $1,541,677Expenses 2022: $201,580Net Income 2022: $1,340,0972022Revenue 2023: $1,737,278Expenses 2023: $459,398Net Income 2023: $1,277,8802023Revenue 2024: $9,055,781Expenses 2024: $4,972,340Net Income 2024: $4,083,4412024

Highlighted filing

2024

Revenue$9,055,781
Expenses$4,972,340
Net Income$4,083,441
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Mar 24, 2025
Return Version
2024v5.1
Gross Receipts
$9,055,781
Mission and Program Overview

Mission

Our mission is to develop, promote and manage alternative housing options on Lopez Island, Washington, with the specific purpose of addressing the need for low cost and moderate cost affordable housing. It is our goal to create rental housing that is affordable to persons and families working on Lopez Island, Washington.

Housing Lopez is a non-profit organization dedicated to solving the rental housing crisis on Lopez Island by developing dedicated, affordable, sustainable rental housing communities.(See Schedule O for the full mission statement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$63,001$3,516,075▲ $3,453,074
Land, Buildings, and Equipment, Net$3,204,163$3,143,902▼ $60,261
Cash and Non-Interest-Bearing Accounts$1,610,893$2,204,616▲ $593,723
Investments Program Related-$68,076-
Prepaid Expenses and Deferred Charges$6,843$23,059▲ $16,216
Total Assets$4,884,900$8,955,728▲ $4,070,828
Liabilities
Mortgage Notes Payable Secured by Investment Property$575,619$570,706▼ $4,913
Other Liabilities$7,700--
Total Liabilities$583,319$570,706▼ $12,613
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,301,581$8,385,022▲ $4,083,441
Total Net Assets Fund Balance$4,301,581$8,385,022▲ $4,083,441
Total Liabilities and Net Assets / Fund Balance$4,884,900$8,955,728▲ $4,070,828

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,934,874$183,802$2,118,676
Land$1,209,028-$1,209,028
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
John TaylorCo Chair
Melora HillerCo Chair
Bill JohnsonDirector
Doug StevensonDirector
Pixie EslingerDirector
Richard ManderbachDirector
Linda FloodeenAssistant Treasurer
Doug BowenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$8,953,583
Program Service Revenue
$0
Investment Income
$16,408
Other Revenue
$85,790
All Other Contributions
$4,375,351
Change in Net Assets
$4,083,441
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,913,622
Total Fundraising Expense$380,044
Salaries, Compensation, and Employee Benefits$58,718
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$4,326,037--$4,326,037
Payments to Affiliates--$368,510$368,510
Depreciation Depletion$61,267--$61,267
Current Officers, Directors, Trustees, and Key Employees-$51,872-$51,872
Fees for Services Management$50,000--$50,000
Interest$22,814--$22,814
Insurance$17,480$800$393$18,673
Fees for Services Other$4,934$12,030-$16,964
Office Expenses$10,134$4,762$810$15,706
Information Technology--$5,487$5,487
Payroll Taxes$244$4,839-$5,083
Advertising--$4,350$4,350
Occupancy-$2,765$494$3,259
Other Salaries and Wages$1,763--$1,763
Fees for Services Accounting-$1,000-$1,000
Fees for Services Legal$869--$869
Total Functional Expenses$4,514,228$78,068$380,044$4,972,340
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
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
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
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 governing body review Part VI line 11

“Section B, Line 11b: Form 990 is posted to Housing Lopezs Google Drive Account and all board members are notified that it is available for review.”

Governing documents etc available to public Part VI line 19

“Section C, line 19: We have not received any requests from the public for documents; however, if any member of the public were to request documents, we would make them available in a timely manner.”

Filing and Contact Details

Filer

Filer Name
Housing Lopez
EIN
83-1734958
In Care Of
% Linda Floodeen
Phone
4259223980
Address
PO Box 493, Lopez Island, WA 98261

Signing Officer

Name
Linda Floodeen
Title
Treasurer
Phone
4259223980
Signed
2025-03-24
Discuss with paid preparer
No

Organization Details

Formed
2018
Legal Domicile
Wa
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
7

Preparer

Firm
Brederode Tax LLC
Address
13548 N Abeja Rd, Rathdrum, ID 83858
Preparer
Daurell Bell
Phone
2086517752
Supplemental Narrative

Additional Explanations

General explanation attachment

“Housing Lopez completed the development and construction of its first affordable rental housing community in 2021. Now known as FishBay Cottages, the community is comprised of six modular rental units. Each cottage is 843 square feet, with two bedrooms and one bathroom. Three of the units are low income housing and three of the units are moderate income housing, as defined by San Juan County. All units are occupied. The community is self-sustaining and permanently dedicated to affordable rental housing. Housing Lopez is dedicated to solving the rental housing crisis on Lopez Island proceeded in 2022 and 2023 and 2024 with preliminary work for a second affordable rental housing project.”

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Section B, Line 11b: Form 990 is posted to Housing Lopezs Google Drive Account and all board members are notified that it is available for review.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Section C, line 19: We have not received any requests from the public for documents; however, if any member of the public were to request documents, we would make them available in a timely manner.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Housing Lopez completed the development and construction of its first affordable rental housing community in 2021. Now known as FishBay Cottages, the community is comprised of six modular rental units. Each cottage is 843 square feet, with two bedrooms and one bathroom. Three of the units are low income housing and three of the units are moderate income housing, as defined by San Juan County. All units are occupied. The community is self-sustaining and permanently dedicated to affordable rental housing. Housing Lopez is dedicated to solving the rental housing crisis on Lopez Island proceeded in 2022 and 2023 and 2024 with preliminary work for a second affordable rental housing project.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2General explanation attachment
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0LINDA FLOODEEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-03-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Housing Lopez
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ReturnHeader/Filer/InCareOfNm0% Linda Floodeen
ReturnHeader/Filer/PhoneNum04259223980

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,955,728
Liabilities
$570,706
Net assets
$8,385,022
Revenue
$9,055,781
Expenses
$4,972,340
Net income
$4,083,441
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$8.96$0.57$8.39$9.06$4.97$4.08
2023Detailed filing. Detailed filing data is available for this year.$4.88$0.58$4.30$1.74$0.46$1.28
2022Detailed filing. Detailed filing data is available for this year.$3.62$0.59$3.02$1.54$0.20$1.34
2021Detailed filing. Detailed filing data is available for this year.$2.29$0.60$1.68$1.21$0.03$1.18
2020Detailed filing. Detailed filing data is available for this year.$0.51$0.00$0.51$0.37$0.15$0.22
2019Detailed filing. Detailed filing data is available for this year.$0.29$0.00$0.29$0.32$0.04$0.28