Civic Intelligence

Specialized Housing Incorporated

990 • Fiscal year 2022 • EIN 93-0790440

Jul 01, 2021 to Jun 30, 2022 • Filed on May 10, 2023

4140 SW 109th AvenueBeaverton, OR 97005

(503) 469-9248

Siviq Scores

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

Liabilities / Assets

37th percentile

0.09x

Higher debt load relative to assets than 37% of similar nonprofits.

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

Liabilities / Revenue

56th percentile

0.28x

Higher debt load relative to revenue than 56% of similar nonprofits.

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

Net Margin

94th percentile

71%

Higher net margin than 94% of similar nonprofits.

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

Top Officer Pay

51st percentile

$179,805

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 3.7% of source-year revenue.

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

Asset Growth

83rd percentile

25%

Faster asset growth than 83% of similar nonprofits.

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

Revenue Growth

97th percentile

286%

Faster revenue growth than 97% of similar nonprofits.

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

Assets

Up

$15,613,279

Up $3,121,841 (+25%) from 2021

Net Assets

Up

$14,257,061

Up $3,189,412 (+29%) from 2021

Liabilities

Down

$1,356,218

Down $67,571 (-4.7%) from 2021

Revenue

Up

$4,816,452

Up $3,570,254 (+286%) from 2021

Expenses

Up

$1,379,469

Up $115,963 (+9.2%) from 2021

Net Income

Up

$3,436,983

Up $3,454,291 (+19958%) from 2021

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $9,862,701Liabilities 2010: $4,498,013Net Assets 2010: $5,364,6882010Assets 2011: $10,298,004Liabilities 2011: $4,154,163Net Assets 2011: $6,143,8412011Assets 2012: $10,554,753Liabilities 2012: $3,868,184Net Assets 2012: $6,686,5692012Assets 2013: $10,391,492Liabilities 2013: $3,530,676Net Assets 2013: $6,860,8162013Assets 2014: $10,616,732Liabilities 2014: $3,091,877Net Assets 2014: $7,524,8552014Assets 2015: $10,630,245Liabilities 2015: $2,767,491Net Assets 2015: $7,862,7542015Assets 2016: $10,354,888Liabilities 2016: $2,432,422Net Assets 2016: $7,922,4672016Assets 2017: $9,870,531Liabilities 2017: $2,097,841Net Assets 2017: $7,772,6902017Assets 2018: $11,520,983Liabilities 2018: $2,114,185Net Assets 2018: $9,406,7982018Assets 2019: $12,093,773Liabilities 2019: $1,858,050Net Assets 2019: $10,235,7232019Assets 2020: $12,407,599Liabilities 2020: $1,499,863Net Assets 2020: $10,907,7362020Assets 2021: $12,491,438Liabilities 2021: $1,423,789Net Assets 2021: $11,067,6492021Assets 2022: $15,613,279Liabilities 2022: $1,356,218Net Assets 2022: $14,257,0612022Assets 2023: $21,887,773Liabilities 2023: $1,377,423Net Assets 2023: $20,510,3502023Assets 2024: $26,794,081Liabilities 2024: $1,417,839Net Assets 2024: $25,376,2422024

Highlighted filing

2022

Assets$15,613,279
Liabilities$1,356,218
Net Assets$14,257,061

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,177,3242010Expenses 2011: $1,108,7342011Expenses 2012: $1,139,1032012Expenses 2013: $1,353,2392013Revenue 2014: $1,669,839Expenses 2014: $1,089,169Net Income 2014: $580,6702014Revenue 2015: $1,430,058Expenses 2015: $1,059,194Net Income 2015: $370,8642015Revenue 2016: $1,136,047Expenses 2016: $1,005,570Net Income 2016: $130,4772016Revenue 2017: $1,248,671Expenses 2017: $1,487,903Net Income 2017: -$239,2322017Revenue 2018: $2,872,373Expenses 2018: $1,144,222Net Income 2018: $1,728,1512018Revenue 2019: $1,532,416Expenses 2019: $1,199,434Net Income 2019: $332,9822019Revenue 2020: $1,954,132Expenses 2020: $1,262,160Net Income 2020: $691,9722020Revenue 2021: $1,246,198Expenses 2021: $1,263,506Net Income 2021: -$17,3082021Revenue 2022: $4,816,452Expenses 2022: $1,379,469Net Income 2022: $3,436,9832022Revenue 2023: $7,740,748Expenses 2023: $1,412,907Net Income 2023: $6,327,8412023Revenue 2024: $6,381,347Expenses 2024: $1,533,773Net Income 2024: $4,847,5742024

Highlighted filing

2022

Revenue$4,816,452
Expenses$1,379,469
Net Income$3,436,983
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 10, 2023
Return Version
2021v4.0
Gross Receipts
$6,540,781
Mission and Program Overview

Mission

Provide housing to low income individuals with disabilities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,516,091$4,764,050▼ $752,041
Other Notes and Loans Receivable, Net$802,000$3,424,678▲ $2,622,678
Savings and Temporary Cash Investments$231,545$1,775,248▲ $1,543,703
Investments in Publicly Traded Securities$1,710,396$1,466,130▼ $244,266
Cash and Non-Interest-Bearing Accounts$1,154,388$882,640▼ $271,748
Accounts Receivable$25,437$16,102▼ $9,335
Prepaid Expenses and Deferred Charges$1,594$1,975▲ $381
Total Assets$12,491,438$15,613,279▲ $3,121,841
Other Assets Total$3,049,987$3,282,456▲ $232,469
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,154,938$1,023,284▼ $131,654
Other Liabilities$149,313$175,481▲ $26,168
Accounts Payable and Accrued Expenses$119,538$157,453▲ $37,915
Total Liabilities$1,423,789$1,356,218▼ $67,571
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$11,067,649$14,257,061▲ $3,189,412
Total Net Assets Fund Balance$11,067,649$14,257,061▲ $3,189,412
Total Liabilities and Net Assets / Fund Balance$12,491,438$15,613,279▲ $3,121,841

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,896,191$7,161,452$10,057,643
Land$1,852,265-$1,852,265
Equipment$15,594$260,632$276,226
Other Assets Org$131,920--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian MccarlExec Dir/secFT$171,787$8,018$179,805
Brian MccarlExec Dir/secretary-$171,787$8,018$179,805

Board Members and Trustees

NameTitle
George WelshPresident
Daniel RogersTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$744,307
Program Service Revenue
$1,018,497
Investment Income
$3,053,648
Other Revenue
$0
All Other Contributions
$405,924
Change in Net Assets
$3,436,983

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Residential1$405,000Fair Market Value
Other Non Cash Contri Table1$36,443Fair Market Value
Total Noncash Contributions2$441,443-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$884,703
Salaries, Compensation, and Employee Benefits$494,766
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$363,234$5,756-$368,990
Occupancy$266,000$9,016-$275,016
Other Salaries and Wages$154,788$111,340-$266,128
Current Officers, Directors, Trustees, and Key Employees$107,883$71,922-$179,805
Office Expenses$74,987$22,583-$97,570
Insurance$38,987$6,112-$45,099
Fees for Services Other$37,979$2,620-$40,599
Payroll Taxes$20,291$13,595-$33,886
Other Employee Benefits$8,684$6,263-$14,947
Interest$12,993--$12,993
Fees for Services Accounting-$12,000-$12,000
Fees for Service Investment Mgmnt Fees-$10,752-$10,752
Travel$3,605$3,952-$7,557
Fees for Services Legal$6,800$600-$7,400
Fees for Services Management$6,727--$6,727
Total Functional Expenses$1,102,958$276,511$0$1,379,469
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
Repairs Reserve Liability$164,697
Refundable Security Deposits$10,784
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
No
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
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Reviewed by fiscal manager and then approved by board

Form 990, Page 6, Part VI, Line 15A

Board performs annual compensation review

Form 990, Page 6, Part VI, Line 19

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Specialized Housing Inc
EIN
93-0790440
Phone
5034699248
Address
4140 SW 109TH AVENUE, BEAVERTON, OR 97005

Signing Officer

Name
Brian Mccarl
Title
Exec Dir/secretary
Phone
5034699248
Signed
2023-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Welsh
Formed
1981
Legal Domicile
Or
Voting Board Members
3
Independent Board Members
2
Employees
3

Preparer

Firm
BJORKLUND & MONTPLAISIR CPA'S
Address
10300 SW GREENBURG ROAD STE 470, PORTLAND, OR 97223
Preparer
Steven R Bjorklund
Phone
5036436400
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

Federal and state taxes - the organization has been approved as separate tax-exempt organizations under section 501(c)(3) of the internal revenue code and comparable state statutes and did not have any unrelated business income for the year ended june 30, 2022 and 2021. Due to its tax exempt status, the organization is not subject to income taxes. Accordingly, these financial statements do not reflect a provision for income taxes and there are no other tax positions which must be considered for disclosure. The organization is required to file tax returns with the irs and other taxing authorities. Income tax returns filed by each of the entities are subject to examination by the irs for a period of three years. While no income tax returns are currently being examined by the irs, tax years since 2019 remain open and subject to examination.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1OTHER - 2019 TAX YEAR 7,301 SETTLEMENT - 2019 TAX YEAR 98,658
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0SUPPORTING SCHEDULE
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc1PART III, LINE 12
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt01207614
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IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt06582182
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1952393
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt2483533
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt3244917
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt4131920
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND HELD FOR DEVELOPMENT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1INVESTMENT IN PARTNERSHIPS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2PREDEVELOPMENT COSTS
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3DUE FROM AFFILIATE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4PARTNERSHIP MANAGEMENT FEE
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt110784
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0REPAIRS RESERVE LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REFUNDABLE SECURITY DEPOSITS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FEDERAL AND STATE TAXES - THE ORGANIZATION HAS BEEN APPROVED AS SEPARATE TAX-EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND COMPARABLE STATE STATUTES AND DID NOT HAVE ANY UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2022 AND 2021. DUE TO ITS TAX EXEMPT STATUS, THE ORGANIZATION IS NOT SUBJECT TO INCOME TAXES. ACCORDINGLY, THESE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES AND THERE ARE NO OTHER TAX POSITIONS WHICH MUST BE CONSIDERED FOR DISCLOSURE. THE ORGANIZATION IS REQUIRED TO FILE TAX RETURNS WITH THE IRS AND OTHER TAXING AUTHORITIES. INCOME TAX RETURNS FILED BY EACH OF THE ENTITIES ARE SUBJECT TO EXAMINATION BY THE IRS FOR A PERIOD OF THREE YEARS. WHILE NO INCOME TAX RETURNS ARE CURRENTLY BEING EXAMINED BY THE IRS, TAX YEARS SINCE 2019 REMAIN OPEN AND SUBJECT TO EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt08018
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0BRIAN MCCARL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXEC DIR/SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0179805
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IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0DEBT FORGIVENES
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE
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IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt036443
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REVIEWED BY FISCAL MANAGER AND THEN APPROVED BY BOARD
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD PERFORMS ANNUAL COMPENSATION REVIEW
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0SPEC HSG I
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1SPEC HSG I
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine2Txt0SPEC HSG INC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine2Txt1SPEC HSG I
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0PINE POINT APARTMENTS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1SHI EASTGATE STATION LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine2Txt0PINE POINT APARTMENTS LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine2Txt1SHI EASTGATE STATION LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/EIN0930790440
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IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt0534293
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt12021537
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0OR
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd1OR
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt0LOWINCHSG
IRS990ScheduleR/IdDisregardedEntitiesGrp/PrimaryActivitiesTxt1LOWINC HSG
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt0133966
IRS990ScheduleR/IdDisregardedEntitiesGrp/TotalIncomeAmt1-34
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt04140 SW 109TH AVENUE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine1Txt14140 SW 109TH AVENUE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine2Txt04140 SW 109TH AVENUE
IRS990ScheduleR/IdDisregardedEntitiesGrp/USAddress/AddressLine2Txt14140 SW 109TH AVENUE

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$26.8$1.42$25.4$6.38$1.53$4.85
2023Detailed filing. Detailed filing data is available for this year.$21.9$1.38$20.5$7.74$1.41$6.33
2022Detailed filing. Detailed filing data is available for this year.$15.6$1.36$14.3$4.82$1.38$3.44
2021Detailed filing. Detailed filing data is available for this year.$12.5$1.42$11.1$1.25$1.26$0.02
2020Detailed filing. Detailed filing data is available for this year.$12.4$1.50$10.9$1.95$1.26$0.69
2019Detailed filing. Detailed filing data is available for this year.$12.1$1.86$10.2$1.53$1.20$0.33
2018Detailed filing. Detailed filing data is available for this year.$11.5$2.11$9.41$2.87$1.14$1.73
2017Detailed filing. Detailed filing data is available for this year.$9.87$2.10$7.77$1.25$1.49$0.24
2016Summary only. Only limited summary data is available for this year.$10.4$2.43$7.92$1.14$1.01$0.13
2015Summary only. Only limited summary data is available for this year.$10.6$2.77$7.86$1.43$1.06$0.37
2014Detailed filing. Detailed filing data is available for this year.$10.6$3.09$7.52$1.67$1.09$0.58
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$3.53$6.86$1.35
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.6$3.87$6.69$1.14
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$4.15$6.14$1.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.86$4.50$5.36$1.18