Overview
What is Spokane Housing Ventures?
Spokane Housing Ventures (SHV) is a nonprofit organization situated in Spokane, Washington. Their primary mission is to preserve and develop housing for individuals and families with limited incomes and disabilities, aiming to help them achieve self-sufficiency. They accomplish this objective by managing and owning various affordable housing properties throughout the Spokane, Medical Lake, and Davenport communities. Furthermore, SHV has interests in tax credit limited partnerships and limited liability companies, which they also manage. In 2015, they expanded their operations by purchasing a commercial office building to serve as their corporate headquarters. SHV's rental income includes parts of the building they do not occupy. In addition to housing, SHV supports their residents by providing access to necessary services, helping them strive towards self-sufficiency.
Official website here: www.spokanehousingventures.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 85% (Three-Star out of Four Stars)
Spokane Housing Ventures has received an 85% rating, which reflects a strong emphasis on accountability and finance, contributing to its Three-Star designation. The organization showcases a commitment to transparency with all board members being independent, and its financial oversight is robust, evidenced by effective audit and oversight practices. The charity’s high program expense ratio indicates that a significant portion of its budget is directed towards its core mission.
However, the rating also highlights a concern with the liabilities to assets ratio, which stands at 101.03%. This suggests that the organization has more liabilities than assets, indicating potential financial vulnerability. While the charity's adherence to policies regarding conflicts of interest, whistleblower protections, and document retention is commendable, this financial aspect may warrant attention for long-term sustainability. Overall, Spokane Housing Ventures demonstrates a solid operational framework but should address its financial liabilities to strengthen its position further.
This AI summary has been generated from information found on Charity Navigator.
Is Spokane Housing Ventures legitimate?
Spokane Housing Ventures is a legitimate nonprofit organization registered as a 501(c)(3) entity. Spokane Housing Ventures 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,115,693
For more financial information, click here
Official website here: www.spokanehousingventures.org
What is the mission statement of Spokane Housing Ventures?
Spokane Housing Ventures' mission is centered around preserving and developing housing options for families and individuals with limited incomes and disabilities. Their primary goal is to help these residents gain self-sufficiency by providing access to supportive services. By preserving existing housing and developing new innovative options, Spokane Housing Ventures aims to enhance the living standards of its residents. They manage and own various affordable housing properties, offering assistance in areas such as program expenses, healthcare, and financial challenges. Additionally, they have interests in tax credit limited partnerships and manage tax credit properties.
Official website here: www.spokanehousingventures.org
Who is the CEO of Spokane Housing Ventures?
Steve Mcbride is the President of Spokane Housing Ventures.
Official website here: www.spokanehousingventures.org
What is the revenue of Spokane Housing Ventures?
Spokane Housing Ventures's revenue in 2022 was $5,812,394.
Official website here: www.spokanehousingventures.org
Who are the executives of Spokane Housing Ventures and what are their salaries?
The average compensation at Spokane Housing Ventures during 2022 was $12,127. There are 92 employees at Spokane Housing Ventures.
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Official website here: www.spokanehousingventures.org
Where can I find the form 990 for Spokane Housing Ventures?
Spokane Housing Ventures's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.spokanehousingventures.org
Learn more at the official website: www.spokanehousingventures.org
Mission Statement of Spokane Housing Ventures
Spokane Housing Ventures, a nonprofit organization, is committed to preserving and developing housing options for families and individuals with limited incomes and disabilities. Their mission is twofold: firstly, they aim to preserve existing housing and develop innovative new housing solutions, primarily for those in need due to financial constraints and disabilities. Secondly, they strive to help their residents access supportive services that can aid them in achieving self-sufficiency. This nonprofit organization actively manages a variety of low-income housing rental properties, both properties they own outright and those they have an interest in through limited partnerships and LLCs. Their management extends to tax credit properties as well, demonstrating their dedication to providing affordable housing options. Spokane Housing Ventures went a step further in 2015 when they purchased a commercial office building, which they use as their corporate headquarters. The rental income from this building serves as an additional source of support for their mission.
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Impact
July, 2024
Spokane Housing Ventures impacts the community by preserving and developing housing for families and individuals with limited incomes and disabilities. They also help residents access supportive services to achieve self-sufficiency. Through their operation and management of low-income housing rental properties, Spokane Housing Ventures provides affordable housing options in various communities such as Spokane, Medical Lake, and Davenport. Their mission focuses on creating innovative housing solutions for those in need and empowering residents to become self-sufficient.
This information is meant to be a general summary of Spokane Housing Ventures. 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 2022.
- Investment Income: $2,231
- Program Service Revenue: $5,565,427
- Gross Receipts: $5,812,394
Assets and Liabilities:
- Total Assets: $36,515,376
- Total Liabilities: $36,892,026
- Net Assets: -$376,650
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RENTAL INCOME
Revenue
$5,456,051
LAUNDRY, TENANT CHARGES
Revenue
$109,376
Organization Details
Founding Year
1992
Phone
(509) 232-0170Principal Officer
Steve Mcbride
Main Address
2001 N DIVISION STREET SUITE 100, SPOKANE, WA, 99207
NTEE Category
Code: T99Z - Philanthropy
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