Overview
What is Ch Development Association?
Ch Development Association, situated in Seattle, Washington, is a nonprofit organization committed to preserving affordable housing. They accomplish this by assuming ownership interests in limited partnerships that own low-income, multi-family housing, taking over from for-profit investors upon their exit. To date, the association has preserved 372 housing units in 13 partnerships and has ownership interests in 13 other legal entities established for affordable housing development or rehabilitation in the Greater Seattle area. Moreover, Ch Development Association directly owns three limited liability companies operating low-income rental properties that were rehabilitated in 2021 and 2022, including Bremer Apartments, Boylston Howell Apartments, and John Carney Apartments, with a total of 106 units. The purpose of Ch Development Association is to support Community Roots Housing in its mission to meet the need for affordable housing while preserving neighborhood character in Seattle.
Is Ch Development Association legitimate?
Ch Development Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ch Development 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $148,989
For more financial information, click here
What is the mission statement of Ch Development Association?
The Ch Development Association aims to support Community Roots Housing in its mission to address the need for affordable housing while preserving neighborhood character. To achieve this, the association assumes ownership interests in limited partnerships that own low-income, multi-family housing, replacing for-profit investors when they exit. As of now, the association has preserved 372 units in 13 partnerships. Additionally, it has an ownership interest in 13 legal entities established for the development or rehabilitation of affordable housing in the greater Seattle area. Furthermore, the association directly owns three limited liability companies to operate low-income rental housing properties, which were rehabilitated in 2021 and 2022, including Bremer Apartments, Boylston Howell Apartments, and John Carney Apartments. This ownership supports the association's commitment to Community Roots Housing.
Who is the CEO of Ch Development Association?
Christopher Persons is the Ceo of Ch Development Association. The CEO's salary of Ch Development Association is $0 and their total compensation is $249,347.
What is the revenue of Ch Development Association?
Ch Development Association's revenue in 2022 was $189,750.
Who are the executives of Ch Development Association and what are their salaries?
There 4 volunteers at Ch Development Association.
Here are 6 key members and their salaries (Ch Development Association's CEO's salary is $0 and their total compensation is $249,347):
- Compensation: $0
- Related: $230,822
- Other: $18,525
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $151,888
- Other: $16,203
Where can I find the form 990 for Ch Development Association?
Ch Development Association's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ch Development Association
Ch Development Association, a non-profit organization, is dedicated to supporting Community Roots Housing in its mission to meet the need for affordable housing while preserving neighborhood character in Seattle. The association accomplishes this by assuming ownership interests in limited partnerships that own low-income, multi-family housing. Upon the exit of for-profit investors, CH Development Association replaces their limited partnership, preserving the affordability of 372 units in 13 partnerships so far.
Furthermore, Ch Development Association has an ownership interest in 13 other legal entities established for the development or rehabilitation of affordable housing in the greater Seattle area. Additionally, the association directly owns three limited liability companies to operate low-income rental housing properties. These properties were rehabilitated in 2021 and 2022, providing housing for 49 units at Bremer Apartments, 30 units at Boylston Howell Apartments, and 27 units at John Carneyp Apartments. By undertaking these initiatives, Ch Development Association plays a significant role in preserving affordable housing options, making a tangible impact on the community.
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Impact
October, 2024
Ch Development Association plays a crucial role in addressing affordable housing needs in Seattle while upholding the integrity of neighborhood character. By acquiring interests in limited partnerships, it has effectively preserved 372 units of low-income, multi-family housing, thereby ensuring that these essential living spaces remain accessible to those who might otherwise be displaced.
In addition to its partnership activities, the organization directly owns and operates multiple limited liability companies focused on rehabilitating and maintaining low-income rental properties. This includes significant contributions to the community through the rehabilitation of Bremer Apartments (49 units), Boylston Howell Apartments (30 units), and John Carney Apartments (27 units). These efforts not only increase the available affordable housing stock but also enhance the quality of life for residents.
Through its initiatives, Ch Development Association actively supports the mission of Community Roots Housing by fostering sustainable practices and maintaining the diversity of neighborhoods in the greater Seattle area. Its commitment to preserving affordable housing ensures that low-income families have a place to call home, contributing to the overall stability and vitality of the community.
This information is meant to be a general summary of Ch Development 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 2022.
- Investment Income: $356
- Program Service Revenue: -$141,558
- Gross Receipts: $189,750
Assets and Liabilities:
- Total Assets: $27,246,831
- Total Liabilities: $24,092,735
- Net Assets: $3,154,096
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TENANT RENTS
Revenue
$949,587
LP ADVISORY FEES
Revenue
$1,500
INCOME LP INVESTMENTS
Revenue
-$1,092,645
Organization Details
Founding Year
1999
Phone
(206) 329-7303Principal Officer
Christopher Persons
Main Address
1620 12TH AVENUE 205, SEATTLE, WA, 98122
NTEE Category
Code: L20 - Housing
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