2025-11-13T10:20:46-06:00 2024-12-31 911194016 CLARK NUBER PS 555 110TH AVE NE SUITE 700 BELLEVUE WA 98004 990 2024-01-01 943117253 HOMESIGHT HOME 2067604227 5117 RAINIER AVE S SEATTLE WA 98118 DARRYL SMITH EXECUTIVE DIRECTOR 2067604227 2025-11-12 1 0 MEGAN R RYAN P00737884 4254544919 2025-11-12 2024 2025-03-06 01:10:19Z DARRYL SMITH 5117 RAINIER AVE S SEATTLE WA 98118 7158682 0 X HOMESIGHTWA.ORG X 1990 WA PROMOTING SOCIAL AND ECONOMIC EQUITY TO PRESERVE AND ENHANCE ECONOMICALLY AND CULTURALLY DIVERSE COMMUNITIES THROUGH AFFORDABLE HOMEOWNERSHIP, BUSINESS DEVELOPMENT, AND COMMUNITY ADVOCACY. 12 11 51 18 0 0 5231759 4422503 2075619 2416420 89483 300561 147219 19198 7544080 7158682 698015 5000 0 0 3684709 3354593 0 0 168091 1632036 787244 6014760 4146837 1529320 3011845 66454602 67898831 14088403 16783972 52366199 51114859 X HOMESIGHT CREATES AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES THROUGH ITS HOMEBUYER EDUCATION AND LENDING PROGRAMS. THESE PROGRAMS PRIMARILY SERVE LOW AND MODERATE INCOME, FIRSTTIME HOMEBUYERS IN SEATTLE, KING, PIERCE, AND SNOHOMISH COUNTIES, AND SUPPORT LOCAL BUSINESSES. HOMESIGHT IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, CERTIFIED BY THE US DEPARTMENT OF TREASURY, AND IS A WASHINGTON STATE LICENSED CONSUMER LOAN COMPANY PROVIDING MORTGAGE LOANS STATEWIDE. 0 1 2335559 5000 2416420 HOMEBUYER SERVICES & LENDING: HOMESIGHT'S HOMEBUYER EDUCATION AND COUNSELING PROGRAMS SERVE NEARLY 350 HOUSEHOLDS ANNUALLY, INCLUDING NEW AND EXISTING CUSTOMERS. IN 2024, OF THESE CUSTOMERS, 94% WERE AT OR BELOW 80% PERCENT OF THE AREA MEDIAN INCOME. HOMESIGHT'S MISSION IS TO SERVE PRIMARILY MODERATE-INCOME FAMILIES WISHING TO PURCHASE THEIR FIRST HOME, BUT AS A HUD-CERTIFIED HOUSING COUNSELING ONE-ON-ONE AGENCY, IT CANNOT DISCRIMINATE BASED ON INCOME. ITS HOMEBUYER PROGRAM CONSISTS OF COUNSELING AND NO-COST CLASSES ON ACHIEVING THE DREAM OF HOMEOWNERSHIP, OR AN ONLINE BUYER EDUCATION CURRICULUM FOR A NOMINAL FEE.HOMESIGHT DEVELOPED ITS REVOLVING LOAN FUND IN 1991 TO ADDRESS THE GROWING GAP BETWEEN FAMILY INCOMES AND HOME PRICES. IT OFFERS PURCHASE ASSISTANCE LOANS FUNDED BY PUBLIC AND PRIVATE INVESTMENTS TO PACKAGE HIGHLY COMPETITIVE AMORTIZING OR DEFERRED SECOND LOANS AND DEFERRED THIRD LOANS FOR LOW- AND MODERATE-INCOME HOMEBUYERS. THIS STRUCTURE ALLOWS HOMESIGHT TO MINIMIZE OR ELIMINATE THE REQUIREMENT FOR FHA OR PRIVATE MORTGAGE INSURANCE FOR ITS CUSTOMERS THEREBY INCREASING THE BUYING POWER OF LOW- AND MODERATE-INCOME FIRST-TIME HOMEBUYERS. HOMESIGHT IS A "CORRESPONDENT" 1ST MORTGAGE LENDER TO THE WASHINGTON STATE HOUSING FINANCE COMMISSION, A LOCAL COMMUNITY BANK, AND A NEIGHBORWORKS AMERICA PARTNER. IN 2024, HOMESIGHT ORIGINATED OVER $9.5 MILLION IN 1ST MORTGAGE LOANS WITH ITS CAPITAL PRIMARILY FOR SUBSEQUENT SALE TO THESE LENDERS. THROUGH THESE CHANNELS HOMESIGHT PROVIDES QUALITY, LOW-INTEREST DOWN-PAYMENT OPTIONS AND MORE FLEXIBLE CASE-BY-CASE UNDERWRITING THAT ALLOWS MANY MORTGAGE-ELIGIBLE CUSTOMERS TO ACCESS CREDIT THAT WOULD NOT BE AVAILABLE TO THEM OTHERWISE. IN 2020, HOMESIGHT WAS APPROVED BY THE US DEPARTMENT OF TREASURY - CDFI FUND TO EXPAND THE TARGET MARKET TO AFRICAN AMERICANS (AA) IN KING, PIERCE, AND SNOHOMISH COUNTIES. SINCE THIS ADDITION, HOMESIGHT HAS FOUGHT AGAINST REDLINING AND GENTRIFICATION OF AA'S IN THE SEATTLE AREA BY INTRODUCING LENDING PROGRAMS SUCH AS THE SAM SMITH HI NEIGHBOR HOMEOWNERSHIP FUND (SSHNHF) AND THE SOCIAL JUSTICE (SJ) DPA PROGRAM. THE SSHNHF HELPS AA'S BETWEEN 80-120% AREA MEDIAN INCOME, PURCHASE HOMES ACROSS WASHINGTON STATE BY OFFERING DOWN PAYMENT ASSISTANCE UP TO $20,000 AT 3% DEFERRED FOR 30 YEARS. HOMESIGHT HAS PARTNERED WITH WINDERMERE, US BANK, AND NAREB TO PIONEER THIS INNOVATIVE PROGRAM. AS HOUSING PRICES CONTINUE TO SKYROCKET AND INTEREST RATES CREEP UP, HOMESIGHT HAS MADE IT A MISSION TO SUPPORT BIPOC COMMUNITIES. HOMESIGHT IS SUPPORTING BIPOC FIRST TIME HOME BUYERS BY OFFERING THE SOCIAL JUSTICE DPA PROGRAM. THE PROGRAM INCLUDES $10,000 DEFERRED DOWN PAYMENT ASSISTANCE AT 0% FOR 30 YEARS. THE $3 MILLION SJ DPA FUND WILL HELP 300 BIPOC FAMILIES PURCHASE HOMES IN WASHINGTON STATE. IN 2021, HOMESIGHT LAUNCHED A COUPLE OF DIFFERENT MORTGAGE LOAN PROGRAMS TO FURTHER SUPPORT BIPOC COMMUNITIES. HOMESIGHT NOW OFFERS A VISTA (ITIN) LOAN PROGRAM AND A SHARIA COMPLIANT LOAN PROGRAM. THE VISTA LOAN IS AIMED AT HELPING THOSE WITHOUT TRADITIONAL SOCIAL SECURITY NUMBERS PURCHASE HOMES. THE VISTA LOAN PROGRAM ONLY REQUIRES A 5% DOWN PAYMENT BY THE BORROWER. THIS IS MUCH FRIENDLIER THAN THE OTHER ITIN PROGRAMS AROUND WHICH REQUIRE 10% TO 30% DOWN. HOMESIGHT WAS ALSO APPROVED BY THE WASHINGTON STATE HOUSING FINANCE COMMISSION TO FUND AND SELL SHARIA COMPLIANT FIRST MORTGAGES. THERE IS A LARGE ISLAMIC POPULATION IN SEATTLE THAT NEEDS SUPPORT IN PURCHASING FIRST HOMES. HOMESIGHT WAS EXCLUSIVELY APPROVED BY THE WSHFC TO OFFER THESE LOANS. HOMESIGHT PARTNERED WITH IJARA CDC TO OFFER THIS INNOVATIVE, INTEREST FREE, AND SHARIA COMPLIANT LOANS. TOGETHER WITH OUR PARTNERS WE HOPE TO MAKE A DIFFERENCE FOR FIRST-TIME HOMEBUYERS IN THIS HOUSING MARKET IN WASHINGTON STATE. 2335559 1 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 44 0 51 1 0 0 0 0 0 0 0 0 0 0 0 0 X 12 11 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 WA X TAMMIE ANDERS 2067604227 5117 RAINIER AVE S SEATTLE WA 98118 FRANCINE JOHNSON PRESIDENT 2.00 0.00 X X 0 0 0 JUAN COTTO VICE PRESIDENT (THRU 09/24) 2.00 0.50 X X 0 0 0 TAYLA MILLER SECRETARY 2.00 0.50 X X 0 0 0 HERMAN TAM TREASURER 2.00 0.50 X X 0 0 0 TERRY MILLER PAST PRESIDENT 2.00 0.50 X X 0 0 0 CRISTINA ALVAREZ RUIZ BOARD MEMBER 1.00 0.00 X 0 0 0 NICOLE BASCOMB-GREEN BOARD MEMBER 1.00 0.50 X 0 0 0 REBECCA BRYANT BOARD MEMBER 1.00 0.50 X 0 0 0 KATRINA FREEBURG BOARD MEMBER 1.00 0.00 X 0 0 0 NADINE MORGAN BOARD MEMBER 1.00 0.50 X 0 0 0 JONATHAN PEREZ BOARD MEMBER 1.00 0.00 X 0 0 0 MICKEY ROSS BOARD MEMBER 1.00 0.50 X 0 0 0 STEVE WILLIAMS BOARD MEMBER 1.00 0.50 X 0 0 0 ANNA PORKALOB BOARD MEMBER (THRU 06/24) 1.00 0.00 X 0 0 0 DARRYL SMITH EXECUTIVE DIRECTOR 20.00 20.00 X 196866 0 31249 TAMMIE ANDERS DIRECTOR OF FINANCE 15.00 25.00 X 131848 0 21957 SEKAI SENWOSRET DIR. OF RESOURCE DEVELOPMENT 20.00 20.00 X 128136 0 24287 SEUNG KIM PORTFOLIO DIRECTOR 40.00 0.00 X 120169 0 17237 UCHE OKEZIE REAL ESTATE DEVELOPMENT 40.00 0.00 X 107474 0 19294 MOUSSA SAMB DIRECTOR OF LENDING PARTNERSHIP 40.00 0.00 X 100091 0 18072 784584 0 132096 8 0 1 0 0 2768578 1653925 4422503 LOAN INTEREST INCOME 522292 1298472 1298472 CONTRACT ADMIN. FEE 561000 741417 741417 LOAN AND SERVICING FEE 522292 331309 331309 HOMEBUYER EDUCATION 522292 45222 45222 2416420 300561 300561 MISCELLANEOUS INCOME 900099 6722 6722 RECOVERY OF BAD DEBT 531390 6476 6476 FISCAL AGENT FEES 561000 6000 6000 19198 7158682 2416420 0 319759 5000 5000 228115 182492 45623 2439011 1317328 985701 135982 53437 32688 18370 2379 381923 233630 131290 17003 252107 143959 95508 12640 39639 16751 22888 60527 25578 34949 47023 19871 27152 46462 19634 26828 147372 106422 40950 99478 37164 62314 128134 128134 12836 7859 4977 GENERAL OPERATIONS 263436 154139 109235 62 PROGRAM COSTS 149995 146425 3570 OTHER EMPLOYMENT COSTS 40359 7587 32747 25 BLACK HOMEOWNER INIT. 11200 11200 -259217 -260302 1085 4146837 2335559 1643187 168091 3703478 6125605 11411160 11260184 328177 458495 189169 104974 95000 6959433 28015 28758 984594 742835 261160 241759 37400 130000 37038750 36190302 13082993 6678621 66454602 67898831 393567 400973 7631588 8587259 64855 1875 5711005 7587428 287388 206437 14088403 16783972 X 26870370 21417028 25495829 29697831 52366199 51114859 66454602 67898831 X 3011845 -1827160 -2436025 X 0 1 X 1 1 1 X 8658041 4828014 6201573 5231759 4422503 29341890 8658041 4828014 6201573 5231759 4422503 29341890 1470920 27870970 19172 10778 20690 89483 300561 440684 147219 19198 166417 29948991 12309755 0.93060 0.95060 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FISCAL AGENT / ACCOUNTING SVC FEES - 2024 AMOUNT: $ 6,000. RECOVERY OF BAD DEBT - 2024 AMOUNT: $ 6,476. MISCELLANEOUS INCOME - 2023 AMOUNT: $ 12,485. 2024 AMOUNT: $ 6,722. DEVELOPMENT CONSULTING - 2023 AMOUNT: $ 45,413. REFUNDS AND REIMBURSEMENTS - 2023 AMOUNT: $ 89,321. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 105000 105000 388860 261034 127826 194600 194620 -20 296134 287181 8953 241759 HOMEBUYER LOANS RECEIVABLE 36190302 C 36190302 RIGHT-OF-USE OPERATING LEASE ASSETS 103064 DUE TO/DUE FROM RELATED ORG 58309 OTHER ASSETS 3462 COMMUNITY DEV./PROJECT COSTS 6513786 6678621 OPERATING LEASE LIABILITY 106896 FHLB / HOMESTART FORGIVABLE LOAN 7500 OTHER LIABILITIES 92041 206437 PART IV, LINE 2B: HOMESIGHT ACTS AS FISCAL AGENT FOR LOCAL ORGANIZATIONS ON AN ONGOING BASIS. X 0 0 0 0 0 0 0 0 0 DARRYL SMITH EXECUTIVE DIRECTOR 196866 0 0 0 0 0 6240 0 25009 0 228115 0 0 0 TAMMIE ANDERS DIRECTOR OF FINANCE 131848 0 0 0 0 0 2888 0 19069 0 153805 0 0 0 SEKAI SENWOSRET DIR. OF RESOURCE DEVELOPMENT 128136 0 0 0 0 0 0 0 24287 0 152423 0 0 0 KATRINA FREEBURG BOARD MEMBER PRINICIPAL RESIDENCE MORTGAGE X 70000 70000 0 1 1 KATRINA FREEBURG BOARD MEMBER PRINICIPAL RESIDENCE MORTGAGE X 25000 25000 0 1 1 95000 FORM 990, PART I, LINE 6: UNCOMPENSATED BOARD MEMBERS VOLUNTEER THEIR TIME. FORM 990, PART III, LINE 3 THE COMMUNITY DEVELOPMENT AND REAL ESTATE DEVELOPMENT PROGRAMS HAVE BEEN MOVED UNDER THE OPERATIONS OF HOMESIGHT COMMUNITY DEVELOPMENT. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS PROVIDED TO ALL MEMBERS OF THE FINANCE COMMITTEE FOR REVIEW PRIOR TO FILING. IF TIMING ALLOWS, QUESTIONS MAY BE RAISED AT A COMMITTEE MEETING PRIOR TO FILING IF NOT, THE CFO IS AVAILABLE TO ANSWER ANY AND ALL QUESTIONS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION MAINTAINS A STRICT CONFLICT OF INTEREST POLICY REQUIRING BOARD MEMBERS WITH A POTENTIAL INTEREST IN ANY CONTRACT TO FULLY DISCLOSE THE NATURE AND FACTS OF THEIR INTEREST TO THE BOARD. ANY DIRECTOR WITH A CONFLICT MUST RECUSE THEMSELVES FROM ALL RELATED DISCUSSIONS AND VOTES, EXCEPT TO EXPLAIN THE RELEVANT DETAILS OF THEIR INTEREST. APPROVAL OF SUCH CONTRACTS IS ONLY PERMITTED BY AN ABSOLUTE MAJORITY OF DISINTERESTED DIRECTORS PRESENT, AND NEITHER EMPLOYEES NOR THEIR IMMEDIATE FAMILY MEMBERS MAY SERVE ON THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR COMPENSATION PACKAGE IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. THE ORGANIZATION CREATES AN ANNUAL IMPACT REPORT. FORM 990, PART XI, LINE 9: TRANSFERS TO RELATED ORGANIZATION -1,830,497. RETURN OF PRIOR YEAR GRANT -605,528. 809 HIAWATHA PLACE LLC 5117 RAINER AVE S SEATTLE WA 98188 205328278 DEVELOPMENT WA 80920 0 HOMESIGHT COCO LLC 5117 RAINER AVE S SEATTLE WA 98188 320583276 DEVELOPMENT WA 220885 6228272 HOMESIGHT HOMESIGHT COMMUNITY DEVELOPMENT 5117 RAINER AVE S SEATTLE WA 98118 824218470 COMMUNITY DEVELOPMENT WA 501(C)(3) LINE 7 HOMESIGHT 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 HOMESIGHT COMMUNITY DEVELOPMENT B 1830497 BOOK