Bellwether Housing

“Process to review form 990 bellwether housing shares the form 990 with the finance and audit committee as well as the full board of directors prior to filing with the irs. The controller, cfo and coo along with board and board committee members, have the opportunity to review and provide input prior to filing with the irs.”

“Conflict of interest policy annual conflict of interest questionnaires are completed by all covered persons, which are defined in the bylaws as any of the organization's directors, officers, members of any committee of the board or staff employees that have authority to act on behalf of the board. Board questionnaires are reviewed by the governance committee and situations that may lead to potential conflicts of interest are reviewed by the committee. Executive management and staff questionnaires are reviewed by the coo, who determines if further review on specific situations may be warranted. As described on schedule l, part v several board members, former board members and former key executives ("interested persons") have made loans to bellwether pursuant to the organization's impact investor notes program. Under the program, note holders receive interest at a rate of 2.5%. Interested persons hold $434,000 of impact investor notes out of the $3.75 million issued. None of the outstanding notes are in default. All impact investor notes issued to interested persons have been approved by the board and are documented in writing.”

“Compensation of key employees bellwether housing reviews salaries at least annually. Periodic salary surveys, market studies and the labor index for cost of living are key data points used to inform salary actions. The board of directors sets the chief executive officer's salary annually based on job performance and the market driven factors referenced above. Compensation for senior leadership team members is set by the ceo and coo using the same market-based data.”

“Public availability of form 990 bellwether housing provides copies of its form 990 in response to direct requests to the agency. In addition, the public disclosure of form 990 is posted to the national clearinghouse and guidestar.org. Audited financial statements are available upon request.”

“Bellwether housing was founded in 1980 by the downtown business community with a mission to provide affordable housing options for low-income workers to live close to their jobs. Today, we serve over 3200 residents in 2100 apartments. By locating our buildings near workplaces, schools, childcare,and other amenities, bellwether puts greater opportunity within reach of our residents. This way, our residents --families exiting homelessness, independent seniors, immigrants seeking opportunity, preschool teachers and social workers, and young people just starting out -- have access to the benefits and prosperity of their surrounding communities and, in turn, cultivate a more vibrant and equitable city. Looking forward, bellwether will continue to integrate nearly 40 years of success with new ideas and pioneering development approaches. As king county continues to experience unprecedented job growth, housing shortages, and increasing homelessness, over the next five years, bellwether plans to develop or acquire 1,200 new affordable homes for low- and moderate-income residents of seattle. Bellwether housing has four core programs. 1. Develop and manage affordable apartments. Bellwether manages its buildings in-house. We proactively plan for major projects to repair, sustain, and preserve our apartments. Bellwether plans to increase our portfolio by developing or acquiring 1200 homes in the next five years. 2. Coordinate services that support residents in independent living. Bellwether's on-site resident services coordinators (rscs) offer residents resources and referrals and connect residents to activities at the building and in the community with a focus on education, health, wellness and community engagement. Our program supports and empowers residents to find solutions to solve the challenges in their lives, encouraging residents to work holistically on their personal goals and to contribute to their communities. We support community building by supporting resident-initiated social events such as potlucks, bingo, and movie nights. Our goal is to promote housing stability through strong, supportive social relationships. 3. Amplify our impact by providing development services to other organizations. Bellwether provides housing development services to other mission-driven organizations that want to develop or preserve affordable housing. Our services also include asset management, energy efficiency consulting, green retrofits, and property management. 4. Advocate to increase opportunities for affordable places to live. As a founding member of the housing development consortium, bellwether housing is part of a coalition actively advocating for affordable housing at the local, state, and federal levels.”

“As part of its real estate portfolio bellwether has sole ownership of seventeen buildings in the puget sound area providing 1,209 affordable housing units. We create and maintain outstanding homes and connect residents in need of support to organizations that can help them lead healthy and independent lives.”

“Bellwether housing, through partnerships with several low-income housing tax credit (lihtc) partners also shares ownership of eleven buildings that provide an additional 872 affordable housing units. On these jointly owned buildings, bellwether is responsible for refurbishment of units, construction of new units and management of all buildings.”