Civic Intelligence

Georgetown Community Development Authority

990 • Fiscal year 2021 • EIN 84-2919236

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 08, 2022

6555 5th Ave S Ste 108Seattle, WA 98108

(206) 769-6399

Siviq Scores

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

Liabilities / Assets

94th percentile

1.01x

Higher debt load relative to assets than 94% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

100th percentile

135.68x

Higher debt load relative to revenue than 100% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

2nd percentile

-130%

Higher net margin than 2% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

10th percentile

$27,545

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 9.2% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Assets

$40,150,153

No earlier filing loaded for comparison.

Net Assets

-$401,790

No earlier filing loaded for comparison.

Liabilities

$40,551,943

No earlier filing loaded for comparison.

Revenue

$298,876

No earlier filing loaded for comparison.

Expenses

$687,204

No earlier filing loaded for comparison.

Net Income

-$388,328

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0-$20MAssets 2021: $40,150,153Liabilities 2021: $40,551,943Net Assets 2021: -$401,7902021Assets 2022: $43,697,520Liabilities 2022: $45,846,407Net Assets 2022: -$2,148,8872022Assets 2023: $39,206,009Liabilities 2023: $48,493,487Net Assets 2023: -$9,287,4782023Assets 2024: $39,277,875Liabilities 2024: $51,632,734Net Assets 2024: -$12,354,8592024

Highlighted filing

2021

Assets$40,150,153
Liabilities$40,551,943
Net Assets-$401,790

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2021: $298,876Expenses 2021: $687,204Net Income 2021: -$388,3282021Revenue 2022: $1,228,208Expenses 2022: $2,976,276Net Income 2022: -$1,748,0682022Revenue 2023: $2,743,574Expenses 2023: $4,083,819Net Income 2023: -$1,340,2452023Revenue 2024: $1,478,175Expenses 2024: $4,545,556Net Income 2024: -$3,067,3812024

Highlighted filing

2021

Revenue$298,876
Expenses$687,204
Net Income-$388,328
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 8, 2022
Return Version
2021v4.2
Gross Receipts
$298,876
Mission and Program Overview

Mission

Georgetown community development authority builds resilient community, through affordable placemaking and placekeeping in the duwamish valley. We create at the intersection of the arts, equity, and well-being.

Building resilient community, through affordable placemaking and placekeeping in the duwamish valley. Creating at the intersection of the arts, equity, and well-being.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$20,910,498▲ $20,910,498
Investments Other Securities$1,505,026$10,249,307▲ $8,744,281
Savings and Temporary Cash Investments-$5,022,129-
Cash and Non-Interest-Bearing Accounts$2,950$268,402▲ $265,452
Accounts Receivable-$58,426-
Prepaid Expenses and Deferred Charges-$28,665-
Intangible Assets$5,000$0▼ $5,000
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$-388,328▼ $388,328
Total Assets$1,512,976$40,150,153▲ $38,637,177
Other Assets Total$0$3,612,726▲ $3,612,726
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,526,438$40,238,387▲ $38,711,949
Accounts Payable and Accrued Expenses-$313,556-
Total Liabilities$1,526,438$40,551,943▲ $39,025,505
Net Assets / Fund Balance
Total Net Assets Fund Balance$-13,462$-401,790▼ $388,328
Total Liabilities and Net Assets / Fund Balance$1,512,976$40,150,153▲ $38,637,177

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,417,411$36,126$8,453,537
Other Land Buildings$12,473,087--
Equipment$20,000--
Other Assets Org$3,612,726--
Closely Held Equity Interests$10,249,307--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Rebecca LaszloExecutive DirectorPT$27,545$27,545

Board Members and Trustees

NameTitle
Ben RankinDirector, President
Sam FarrazainoDirector, Vice President
Amber LarsenDirector,
Mari ShibuyaDirector,
Paulina LopezDirector,
Richard ConlinDirector, Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$3,430
Program Service Revenue
$282,101
Investment Income
$13,345
Other Revenue
$0
All Other Contributions
$3,430
Change in Net Assets
$-388,328
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$616,814
Salaries, Compensation, and Employee Benefits$70,390
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest-$403,913-$403,913
Occupancy$66,875$1,481-$68,356
Other Salaries and Wages$10,703$46,129-$56,832
Depreciation Depletion-$36,511-$36,511
Fees for Services Management$9,599$11,719-$21,318
Fees for Services Other-$20,366-$20,366
Fees for Services Accounting$1,142$17,478-$18,620
Fees for Services Legal-$17,599-$17,599
Conferences and Meetings$13,710--$13,710
Payroll Taxes$778$11,159-$11,937
Office Expenses$70$10,202-$10,272
Insurance$1,118$2,663-$3,781
Other Employee Benefits-$1,621-$1,621
Travel$16$802-$818
Information Technology-$92-$92
Advertising-$13-$13
Other Expenses$1,618$-381-$-381
Total Functional Expenses$105,629$581,575$0$687,204
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-100% OWNED BY 3 BOARD MEMBERS:BEN RANKIN, SAM FARRAZAINO, RICHARD CONLINCdp LLC Performs Consulting Services for the Exempt OrganizationNo$870,287
Debt and Bond Financing

Bond Issues

BondIssuerIssuedIssue PricePurpose
AThe Industrial Development Authority of the City of Sierra Vista2021-10-28$34,008,654Property aquisition, improvements and entitlement costs to promote our

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$29,927,616$970,188-$680,173

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
Yes
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Business relationship with 35% controlled entity
Yes
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, Part VI, Section A, Line 2

Ben rankin, richard conlin and sam farrazaino are partners in other businesses, both related (community development partners 1 llc) and unrelated (conlin columbia llc)

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

Prior to filing, the form 990 is sent to all board members for examination; the 990 is released for filing upon majority approval of the board.

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

Every year all officers must sign the conflict of interest form to remain compliant within the rules set forth by our governance committee.

Form 990, Part VI, Section C, Line 19

Governing documents, conflict of interest policy and financial information is made available to the public upon request

Filing and Contact Details

Filer

Filer Name
Georgetown Community Development
EIN
84-2919236
Phone
2067696399
Address
6555 5TH AVE S STE 108, SEATTLE, WA 98108

Signing Officer

Name
Muguette Guenneguez
Title
Executive Director
Phone
2067696399
Signed
2022-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Muguette Guenneguez
Formed
2019
Legal Domicile
Wa
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Van Beek & Co LLC
Address
16045 SW UPPER BOONES FERRY RD, TIGARD, OR 97224-7733
Preparer
Dave Brookens
Phone
5036394700
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IRS990ScheduleA/Total509Grp/TotalAmt0285531
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0298876
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt015152
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0314028
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt08417411
IRS990ScheduleD/BuildingsGrp/DepreciationAmt036126
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt08453537
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt010249307
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/MethodValuationCd0C
IRS990ScheduleD/EquipmentGrp/BookValueAmt020000
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt020000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03612726
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CONSTRUCTION IN PROCESS
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt012473087
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt012473087
IRS990ScheduleD/TotalBookValueLandBuildingsAmt020910498
IRS990ScheduleD/TotalBookValueOtherAssetsAmt03612726
IRS990ScheduleD/TotalBookValueSecuritiesAmt010249307
IRS990/ScheduleJRequiredInd00
IRS990ScheduleK/ProceduresCorrectiveActionGrp/BondReferenceCd0A
IRS990ScheduleK/ProceduresCorrectiveActionGrp/ProceduresCorrectiveActionInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/ExceptionToRebateInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/Form8038TFiledInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GICProviderName/BusinessNameLine1Txt0MASSACHUSETTS
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GICProviderName/BusinessNameLine2Txt0MUTUAL LIFE
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/GrossProceedsInvestedInGICInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/HedgeIdentifiedInBksAndRecInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/NoRebateDueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RebateNotDueYetInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/RegulatorySafeHarborStsfdInd01
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/TermOfGICPct010.000000000000
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/VariableRateIssueInd00
IRS990ScheduleK/TaxExemptBondsArbitrageGrp/WrittenProcToMonitorReqsInd01
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuedDt02021-10-28
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondIssuerEIN0521383545
IRS990ScheduleK/TaxExemptBondsIssuesGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsIssuesGrp/CUSIPNum082652PAA1
IRS990ScheduleK/TaxExemptBondsIssuesGrp/DefeasedInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuePriceAmt034008654
IRS990ScheduleK/TaxExemptBondsIssuesGrp/IssuerName/BusinessNameLine1Txt0THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SIERRA VISTA
IRS990ScheduleK/TaxExemptBondsIssuesGrp/OnBehalfOfIssuerInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PoolFinancingInd00
IRS990ScheduleK/TaxExemptBondsIssuesGrp/PurposeDesc0PROPERTY AQUISITION, IMPROVEMENTS AND ENTITLEMENT COSTS TO PROMOTE OUR
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyLeaseArrangementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/AnyResearchAgreementsInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondIssMeetPrvtSecPymtTestInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ChangeInUseBondFinancedPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/MgmtContractBondFincdPropInd00
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/OwningBondFinancedPropertyInd01
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusConcerningUBIPct00.00000
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/PrivateBusUseByOthersPct00.00000
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/ProcsNonqualifiedBondRemdtdInd01
IRS990ScheduleK/TaxExemptBondsPrivateBusUseGrp/TotalPrivateBusinessUsePct00.00000
IRS990ScheduleK/TaxExemptBondsProceedsGrp/AdequateBooksAndRecMaintInd01
IRS990ScheduleK/TaxExemptBondsProceedsGrp/BondReferenceCd0A
IRS990ScheduleK/TaxExemptBondsProceedsGrp/CapitalExpendituresAmt027526840
IRS990ScheduleK/TaxExemptBondsProceedsGrp/FinalAllocationMadeInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/InReserveFundAmt02400865
IRS990ScheduleK/TaxExemptBondsProceedsGrp/IssuanceCostsFromProceedsAmt0680173
IRS990ScheduleK/TaxExemptBondsProceedsGrp/OtherSpentProceedsAmt0970188
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxableBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/RefundingTaxExemptBondsInd00
IRS990ScheduleK/TaxExemptBondsProceedsGrp/SubstantialCompletionYr02021
IRS990ScheduleK/TaxExemptBondsProceedsGrp/TotalProceedsAmt029927616
IRS990ScheduleK/TaxExemptBondsProceedsGrp/UnspentAmt01430588
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0COMMUNITY DEVELOPMENT PARTNERS LLC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0100% OWNED BY 3 BOARD MEMBERS:BEN RANKIN, SAM FARRAZAINO, RICHARD CONLIN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0870287
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0CDP LLC PERFORMS CONSULTING SERVICES FOR THE EXEMPT ORGANIZATION
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BEN RANKIN, RICHARD CONLIN AND SAM FARRAZAINO ARE PARTNERS IN OTHER BUSINESSES, BOTH RELATED (COMMUNITY DEVELOPMENT PARTNERS 1 LLC) AND UNRELATED (CONLIN COLUMBIA LLC)
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PRIOR TO FILING, THE FORM 990 IS SENT TO ALL BOARD MEMBERS FOR EXAMINATION; THE 990 IS RELEASED FOR FILING UPON MAJORITY APPROVAL OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EVERY YEAR ALL OFFICERS MUST SIGN THE CONFLICT OF INTEREST FORM TO REMAIN COMPLIANT WITHIN THE RULES SET FORTH BY OUR GOVERNANCE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL INFORMATION IS MADE AVAILABLE TO THE PUBLIC UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
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 C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DirectControllingEntityName/BusinessNameLine1Txt0GEORGETOWN COMMUNITY DEVELOPMENT AUTHORITY
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/DisproportionateAllocationsInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/EIN0873679683
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/GeneralOrManagingPartnerInd00
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/LegalDomicileStateCd0WA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/OwnershipPct00.80000
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PredominantIncomeTypeTxt0RELATED
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/PrimaryActivitiesTxt0PROPERTY DEVELOPMENT
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine1Txt0GEORGETOWN COMMUNITY PROPERTIES 1 LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfEOYAssetsAmt022928194
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/ShareOfTotalIncomeAmt056933
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/AddressLine1Txt06555 5TH AVE S 108
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/CityNm0SEATTLE
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/StateAbbreviationCd0WA
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/USAddress/ZIPCd098108
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt019488669
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt110249307
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0BOOK VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1MARKET VALUE
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0GEORGETOWN COMMUNITY PROPERTIES 1 LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1GEORGETOWN COMMUNITY PROPERTIES 1 LLC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0R
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1S
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd01
IRS990/SchoolOperatingInd00

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