HOMESIGHT

Financials

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

Address and contacts

Address (IRS master file)

5117 RAINIER AVE S, SEATTLE, WA 98118-1928

Principal officer (990 for 2024)

DARRYL SMITH, 5117 RAINIER AVE S, SEATTLE, WA 98118

Signed the 990

DARRYL SMITH, EXECUTIVE DIRECTOR

Phone

(206) 760-4227

Website

HOMESIGHTWA.ORG

Return prepared by

CLARK NUBER PS

Mission

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.

Program accomplishments

• 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.
  Expenses $2,335,559 · grants $5,000 · revenue $2,416,420

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

IRS record

EIN

94-3117253

Tax-exempt status

501(c)(3): Charitable, religious, educational or scientific organization

Foundation status

Publicly supported organization (170(b)(1)(A)(vi))

Donations deductible (Pub 78)

Public charity, 50% deduction limit

Exempt since

1995

Accounting year ends

December

Files

Form 990 or 990-EZ

Category (NTEE)

Unknown (Z99Z)

Assets (IRS master file)

$67,898,831

Income (IRS master file)

$7,158,682

Filing history

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 94-3117253).

Questions about HOMESIGHT

What is the EIN of HOMESIGHT?

The employer identification number (EIN) of HOMESIGHT is 94-3117253.

Is HOMESIGHT tax-exempt?

Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1995.

Are donations to HOMESIGHT tax-deductible?

Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).

Which annual return does HOMESIGHT file?

Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.

When is the next return of HOMESIGHT due?

The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.

When did HOMESIGHT last file with the IRS?

The latest return in the IRS public files is the 990 for the year ended December 2024.

Who is the principal officer of HOMESIGHT?

The 990 for the year ended December 31, 2024 names DARRYL SMITH.

Who are the officers and directors of HOMESIGHT?

The 990 for the year ended December 31, 2024 lists 20 people; 6 received compensation from the organization, the highest $196,866 (DARRYL SMITH, EXECUTIVE DIRECTOR).

How much revenue does HOMESIGHT have?

On its 990 for the year ended December 31, 2024 it reported revenue of $7,158,682, expenses of $4,146,837 and total assets of $67,898,831 at year end.

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