Overview
What is Washington Community Reinvestment Association?
The Washington Community Reinvestment Association, located in Seattle, Washington, is a dedicated nonprofit organization. Its primary mission is to facilitate the development of affordable housing and real estate-based economic development in the state of Washington. To achieve this goal, the association provides permanent financing and technical assistance. They assist potential borrowers in obtaining financing for multi-family projects through loans, with participation from the association's members. The Washington Community Reinvestment Association's work is essential in creating and preserving affordable housing in the state, as well as expanding resources for real estate-based community development. The organization serves as a voice for its member financial institutions on affordable housing and community development issues. With a modest workforce of eight employees, the association continues its efforts to improve the living conditions and economic opportunities in Washington.
Official website here: www.wcra.net
What are the reviews and ratings of this charity?
Charity Navigator Rating 85% - Three-Star out of Four Star rating
The Washington Community Reinvestment Association has earned an 85% rating from Charity Navigator, reflecting a strong performance primarily in the area of Accountability & Finance. This score indicates that the organization adheres to high standards of financial management and transparency, which is crucial for building public trust and ensuring effective use of donations.
A notable strength of the organization is its governance, with 92% of board members being independent. This level of independent oversight contributes to the integrity of the organization's operations. Additionally, the organization has robust policies in place, including a whistleblower policy and a documented conflict of interest policy, which further supports its commitment to ethical practices.
However, while the organization performs well in financial accountability, no information is provided on its programmatic impact or effectiveness, which are important factors for potential donors and stakeholders to consider. This lack of insight may limit a full understanding of the nonprofit's overall effectiveness in achieving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Washington Community Reinvestment Association legitimate?
Washington Community Reinvestment Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Washington Community Reinvestment Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $494,141
Professional Fundraising Fees: $0
Other Salaries and Wages: $144,132
For more financial information, click here
Official website here: www.wcra.net
What is the mission statement of Washington Community Reinvestment Association?
The Washington Community Reinvestment Association's mission is centered around the creation and preservation of affordable housing in the state. Beyond this, the organization aims to expand resources for real estate-based community development. It serves as a voice for its financial institution members on affordable housing and community development issues. The association provides permanent financing and technical assistance to facilitate the development of affordable housing and realty-based economic development projects. It was established to assist potential borrowers in obtaining permanent financing for multi-family projects through loans participated in by its member institutions.
Official website here: www.wcra.net
What is the revenue of Washington Community Reinvestment Association?
Washington Community Reinvestment Association's revenue in 2023 was $6,829,552.
Official website here: www.wcra.net
Who are the executives of Washington Community Reinvestment Association and what are their salaries?
The average compensation at Washington Community Reinvestment Association during 2023 was $91,182. There are 7 employees and 23 volunteers at Washington Community Reinvestment Association.
Here are 19 key members and their salaries:
- Compensation: $215,827
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- Other: $31,611
- Compensation: $177,654
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- Other: $28,311
- Compensation: $105,420
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- Other: $22,995
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Official website here: www.wcra.net
Where can I find the form 990 for Washington Community Reinvestment Association?
Washington Community Reinvestment Association's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.wcra.net
Learn more at the official website: www.wcra.net
Mission Statement of Washington Community Reinvestment Association
Washington Community Reinvestment Association, abbreviated as WCRA, is dedicated to the creation and preservation of affordable housing in Washington State. Beyond this primary objective, the organization also aims to expand resources for real estate-based community development. WCRA serves as a advocacy platform for its member financial institutions, advocating for affordable housing and community development issues.
In practical terms, WCRA provides permanent financing and technical assistance to facilitate the development of affordable housing and realty-based economic development in Washington State. Established to assist potential borrowers in obtaining permanent financing for multi-family projects, WCRA accomplishes this by participating in loans with its member financial institutions. This approach enables the association to contribute significantly to the creation and preservation of affordable housing, thereby benefiting a wide range of individuals and families in the community.
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Impact
July, 2024
Washington Community Reinvestment Association plays a crucial role in the creation and preservation of affordable housing in Washington State. By providing permanent financing and technical assistance, WCRA facilitates the development of affordable housing and realty-based economic development projects. Through their efforts, WCRA helps individuals and communities access affordable housing options and work towards building sustainable communities. Additionally, the organization serves as a voice for its member financial institutions on affordable housing and community development issues, advocating for policies that support the growth of affordable housing initiatives in the state.
This information is meant to be a general summary of Washington Community Reinvestment Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $62,747
- Program Service Revenue: $6,759,305
- Gross Receipts: $6,829,552
Assets and Liabilities:
- Total Assets: $122,749,409
- Total Liabilities: $117,037,252
- Net Assets: $5,712,157
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
LOAN INTEREST
Revenue
$5,884,122
CONSTRUCTION REVIEW
Revenue
$463,589
ADMINISTRATIVE SERVICE
Revenue
$225,670
AGENCY INCOME
Revenue
$128,556
LOAN FEES
Revenue
$57,368
Organization Details
Founding Year
1991
Principal Officer
Christine Roveda
Website
www.wcra.netNTEE Category
Code: N200 - Recreation
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