2025-11-14T14:13:41-06:00 2024-12-31 351750664 DAUBY O'CONNOR & ZALESKI LLC 501 CONGRESSIONAL BLVD 300 CARMEL IN 46032 990 2024-01-01 943110312 IMAGINE HOUSING IMAG 4255765190 1722 138TH PLACE NE BELLEVUE WA 98005 SHAWNA BINNING VP OF FINANCE 4255765190 2025-11-14 1 0 ROBERT J DOYLE JR P02365765 3178485700 2024 2025-03-06 01:10:19Z SHAWNA BINNING 1722 138TH PLACE NE BELLEVUE WA 98005 12188588 0 X WWW.IMAGINEHOUSING.ORG X 1989 WA DEVELOPING PERMANENT AFFORDABLE RENTAL HOUSING AND PROVIDING SUPPORTIVE SERVICES. 10 10 43 0 0 0 2238035 5144204 6221660 6357164 17409 14022 591281 525855 9068385 12041245 75631 66710 0 0 4472461 5108961 0 0 509755 4836078 5409338 9384170 10585009 -315785 1456236 51744121 53078363 34261306 34416082 17482815 18662281 X TO DEVELOP AFFORDABLE HOUSING, BUILD WELCOMING COMMUNITIES AND FOSTER VIBRANT FUTURES. 0 0 8748972 66710 6980075 OUR WORK STARTED OVER 35 YEARS AGO IN RESPONSE TO THE GROWING ECONOMIC INEQUITIES FACED BY LOW-INCOME HOUSEHOLDS IN EAST KING COUNTY, OUR FOUNDERS REALIZED THAT PERMANENT AFFORDABLE HOUSING WAS THE MOST COST-EFFECTIVE, LONG-TERM SOLUTION TO DISPLACEMENT, HOMELESSNESS, AND POVERTY IN THE REGION. SINCE THEN, OUR WORK HAS EXPANDED FROM A VOLUNTEER RUN ORGANIZATION WITH 18 AFFORDABLE APARTMENTS TO A HIGHLY RESPECTED ORGANIZATION PROVIDING 639 PERMANENT LOW-INCOME APARTMENT HOMES. IN 2009, WE IMPLEMENTED ON-SITE SUPPORTIVE RESIDENT SERVICES TO MEET THE GROWING NEED FOR ADDITIONAL RESOURCES TO ENSURE HOUSEHOLD STABILITY AND SELF-SUFFICIENCY.IMAGINE HOUSING SERVES LOW-INCOME FAMILIES AND SENIORS WITH AFFORDABLE, SERVICE-ENRICHED HOUSING IN THE EASTSIDE COMMUNITIES OF BELLEVUE, REDMOND, ISSAQUAH, KIRKLAND, MERCER ISLAND, SAMMAMISH, AND SOON IN BOTHELL. ONE-QUARTER OF THE HOMES SERVE FAMILIES AND SENIORS COMINGDIRECTLY FROM HOMELESSNESS. WE PRACTICE HOUSING FIRST AND WORK TO REMOVE ALL BARRIERS TO HOUSING AND HOUSING STABILITY. IMAGINE HOUSING SERVES OVER 1,400 LOW AND VERY LOW-INCOME INDIVIDUALS, INCLUDING 383 CHILDREN, 416 SENIORS AND 49 VETERANS. 225 APARTMENTS ACROSS OUR PORTFOLIO ARE RESERVED FOR FAMILIES AND SENIORS COMING FROM HOMELESSNESS WITH COORDINATED ENTRY FOR ALL (CEA) REFERRALS OR SECTION 8 VOUCHERS, INCLUDING HOUSING CHOICE, PROJECTBASED AND VASH. THE AVERAGE HOUSEHOLD INCOME OF IMAGINE HOUSING RESIDENTS IS $27,980 PER YEAR. 62% OF HOUSEHOLDS IDENTIFY AS PEOPLE OF COLOR AND 29% REPORT THAT A MEMBER OF THE HOUSEHOLD IS LIVING WITH A DISABILITY. 8748972 1 1 0 0 0 0 0 0 0 0 1 0 1 1 1 1 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 0 0 1 0 0 0 0 1 0 0 0 1 1 1 1 1 0 1 35 0 1 43 1 0 0 0 0 0 1 1 0 0 0 0 X 10 10 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 1 1 X SHAWNA BINNING 4255765190 1722 138TH PLACE NE BELLEVUE WA 98005 LAURA COUGHLIN CHAIR 2.00 X X 0 0 0 DENILLE BEZEMER VICE CHAIR 1.00 X X 0 0 0 DIANE PIETROWSKI TREASURER 2.00 1.00 X X 0 0 0 SAGHAR AMINI SECRETARY 1.00 X X 0 0 0 CAROLYN FERRIS BOARD MEMBER 5.00 1.00 X 0 0 0 KASHIF ZAHOOR BOARD MEMBER 2.00 X 0 0 0 PENNY MARIE CURRY BOARD MEMBER 1.00 X 0 0 0 AMBER WALSH BOARD MEMBER 1.00 X 0 0 0 EVAN CHAN BOARD MEMBER 1.00 X 0 0 0 PETER TRAN BOARD MEMBER 1.00 X 0 0 0 JACKIE FRANK FORMER BOARD MEMBER 1.00 X 0 0 0 YICHUAN ZHAO PRESIDENT 36.00 4.00 X 187749 20595 0 SHAWNA BINNING VP OF FINANCE (PART-YEAR) 36.00 4.00 X 62872 6934 0 STEVEN WHITE FORMER DIRECTOR OF FINANCE (PART YEAR) 36.00 4.00 X 36119 3452 0 TROY DRAWZ VP OF REAL ESTATE DE 40.00 X 159207 0 0 ZEE PETERS VP OF ADVANCEMENT 40.00 X 144167 0 0 EUNICE SPRINGS VP OF PEOPLE & CULTU 40.00 X 140704 0 0 KRISTIN GRANSTRAND DIRECTOR OF RESIDENT SERVICES (FORMER) 40.00 0.00 X 134482 0 0 GISELLE AGUILAR VP OF SPECIAL INITIATIVES 40.00 0.00 X 126556 0 0 991856 30981 0 6 0 1 0 0 213467 2641205 2289532 51500 5144204 RENTAL INCOME 531110 5721322 5721322 CASE MANAGEMENT 531110 540501 540501 OTHER TENANT REVENUE 900099 95341 95341 6357164 16083 16083 618251 0 618251 618251 618251 2061 -2061 -2061 -2061 52886 213467 145282 -92396 -92396 12041245 6973354 0 -76313 66710 66710 4349646 3141891 836185 371570 58160 28744 22086 7330 346480 250680 63512 32288 354675 252467 73544 28664 64486 31607 32879 80397 80397 14692 2159 10122 2411 176902 142865 18985 15052 36780 10197 26583 276289 209410 53681 13198 124117 73223 34869 16025 1041930 913294 128636 5319 5064 255 57830 43809 7171 6850 787265 771588 15677 1269148 1267882 1266 402238 386183 16055 REPAIRS & MAINTENANCE 639275 639275 BAD DEBTS 218067 218067 BUILDING SUPPLIES 151271 151271 MISCELLANEOUS EXPENSE 25649 25649 37683 36540 708 435 10585009 8748972 1326282 509755 2090324 1774582 251535 15 383456 752990 146796 191981 719226 1751159 283275 353112 60712883 22828060 39022144 37884823 7517625 7146248 404956 411356 924784 2812097 51744121 53078363 499423 1050349 138303 135555 150000 100000 32295184 32118977 535000 390000 643396 621201 34261306 34416082 X 16699492 18208299 783323 453982 17482815 18662281 51744121 53078363 1456236 1510 -278279 0 X X 0 1 X 1 1 1 X 1763074 1638894 2039911 2238035 5144204 12824118 1763074 1638894 2039911 2238035 5144204 12824118 12824118 533815 566873 594099 655272 634334 2984393 23830 27494 54750 77837 52886 236797 16045308 0.79920 0.74440 X SCHEDULE A, PART II, LINE 10, EXPLANATION FOR OTHER INCOME AUCTION REVENUE 2020 AMOUNT: $23,830 2021 AMOUNT: $27,494 2022 AMOUNT: $54,750 2023 AMOUNT: $77,837 2024 AMOUNT: $52,866 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 18618291 18618291 38281219 19482759 18798460 1781945 1594444 187501 2031428 1750857 280571 37884823 REPLACEMENT RESERVES 3928251 F OPERATING RESERVES 3103736 F INVESTMENT IN LOW-INCOME HOUSING LPS AND LLCS 114261 C 7146248 DUE FROM RELATED PARTIES 206543 BENEFIT INTEREST IN LEAD TRUST 52341 SECURITY DEPOSITS 136399 RIGHT OF USE ASSET 435567 CONSTRUCTION IN PROGRESS AND PREDEVELOPMENT COSTS 1981247 2812097 ACCRUED INTEREST PAYABLE 59078 DUE TO LIMITED PARTNERSHIPS AND LLC'S 29852 RIGHT OF USE LEASE LIABILITY 465458 TENANT SECURITY DEPOSITS AND PREPAI 66813 621201 X PART X, LINE 2: IMAGINE HOUSING IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND STATE INCOME TAX AND HAVE BEEN CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION. ACCORDINGLY, NO PROVISION FOR FEDERAL AND STATE TAXES ON REVENUE AND INCOME HAS BEEN RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. GENERALLY, THE FEDERAL AND STATE TAX RETURNS WERE SUBJECT TO EXAMINATIONS FROM THE THREE YEARS AFTER THE LATER OF THE ORIGINAL OR EXTENDED DUE DATE OR THE DATE FILED WITH THE APPLICABLE TAX AUTHORITY. EVEN THOUGH IMAGINE HOUSING AND IMAGINE HOUSING COMMUNITIES ARE RECOGNIZED AS TAX EXEMPT, THEY STILL MAY BE LIABLE FOR TAX ON THEIR UNRELATED BUSINESS INCOME (UBI). THE CORPORATION EVALUATES UNCERTAIN TAX POSITIONS THROUGH ITS REVIEW OF THE SOURCES OF INCOME TO IDENTIFY UBI AND CERTAIN OTHER MATTERS, INCLUDING THOSE WHICH MAY AFFECT ITS TAX EXEMPT STATUS. THE EFFECT OF THE UNCERTAINTY WOULD BE RECORDED IF THE OUTCOME WAS CONSIDERED PROBABLE AND REASONABLY ESTIMABLE. AS OF DECEMBER 31, 2024, THE CORPORATION HAD NO UNCERTAIN TAX POSITIONS REQUIRING ACCRUAL. 2024 AUCTION 266353 213467 52886 70535 74747 266353 213467 52886 70535 74747 145282 -92396 1 280 CLARK LP 1722 138TH PLACE NE BELLEVUE WA 98005 208798867 66710 0 N/A N/A RENTAL ASSISTANCE - OPERATIONS AND MAINTENANCE 0 1 PART I, LINE 2: IMAGINE HOUSING ENTERED INTO A CONTRACT WITH KING COUNTY FOR RENTAL ASSISTANCE AT JOHNSON HILL APARTMENTS (OWNED BY 280 CLARK LP). IMAGINE HOUSING ALSO ENTERED INTO A CONTRACT WITH WA STATE DEPARTMENT OF COMMERCE FOR AN OPERATING AND MAINTENANCE GRANT FOR RENTAL ASSISTANCE AT JOHNSON HILL APARTMENTS. QUARTERLY ASSISTANCE PAYMENTS ARE RECEIVED BY IMAGINE HOUSING AND ARE PASSED THROUGH TO JOHNSON HILL. 280 CLARK LP IS CONSIDERED A DISREGARDED ENTITY OF IMAGINE HOUSING AND SHARES COMMON GOVERANCE WITH IMAGINE HOUSING. IMAGINE HOUSING ENSURES ALL GRANT FUNDS THAT FLOW TO 280 CLARK LP ARE USED FOR THE PROPER PURPOSES. X X 0 0 0 0 0 0 0 0 0 YICHUAN ZHAO PRESIDENT 187749 20595 0 0 0 0 0 0 0 0 187749 20595 0 0 TROY DRAWZ VP OF REAL ESTATE DE 159207 0 0 0 0 0 0 0 0 0 159207 0 0 0 PART I, LINE 3 HUMAN RESOURCES REVIEWS MULTIPLE SOURCES OF SALARY MARKET DATA TO DETERMINE AN EQUITABLE COMPENSATION RECOMMENDATION FOR THE PRESIDENT. BOARD MEMBERS REVIEW AND APPROVE THIS RECOMMENDATION TO DETERMINE THE PRESIDENT'S SALARY. PATRICK MCDERMO FORMER BOARD MEMBER SOCIAL IMPACT INVESTMENT LOAN X 100000 100000 0 0 1 ELLEN O'HARA FORMER BOARD MEMBER SOCIAL IMPACT INVESTMENT LOAN X 25000 0 0 0 1 JOHN CLEARMAN FORMER BOARD MEMBER SOCIAL IMPACT INVESTMENT LOAN X 25000 0 0 0 1 100000 X 51500 PROVIDED BY DONOR 0 1 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS WAS USED IN PART I. FORM 990, PART VI, SECTION A, LINE 3 IN 2024, THE ORGANIZATION DELEGATED THE MANAGEMENT OF ITS PROPERTIES TO ALLIED RESIDENTIAL INC. IN THE FIRST HALF OF THE YEAR. FOR THE SECOND HALF OF 2024, PROPERTY MANAGEMENT RESPONSIBILITY WAS DELEGATED TO INDIGO REAL ESTATE SERVICES. FORM 990, PART VI, SECTION A, LINE 8B THERE WERE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY THE CONTROLLER, THE VP OF FINANCE, AND THE PRESIDENT AND IS MADE AVAILABLE TO THE BOARD OF DIRECTORS AFTER IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS, AND EACH BOARD MEMBER SIGNS A STATEMENT OF ACKNOWLEDGMENT AND COMPLIANCE WITH IMAGINE HOUSING AND AFFILIATES' CONFLICTS OF INTEREST POLICY THAT STATES THEY DO NOT HAVE A CONFLICT OF INTEREST AS DEFINED IN THE POLICY. ALSO, IF A POTENTIAL CONFLICT ARISES, THE BOARD MEMBER ABSTAINS FROM ANY DISCUSSION AND/OR VOTE ON THAT ISSUE. IT IS DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION B, LINE 15 SALARY MARKET DATA, SUCH AS REGIONAL AND NATIONAL INFORMATION FROM PAYSCALE AND THE KING COUNTY NONPROFIT WAGE AND BENEFIT SURVEY REPORT, ARE REVIEWED WHEN ESTABLISHING COMPENSATION. THE BOARD OFFICERS DETERMINE THE COMPENSATION FOR THE PRESIDENT, WHILE THE PRESIDENT AND DEPARTMENT VICE PRESIDENTS/SUPERVISORS DETERMINE COMPENSATION FOR THEIR DIRECT REPORTS. ALL BOARD DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. THE MOST RECENT REVIEW UNDER THIS PROCESS WAS COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE AUDITED FINANCIAL INFORMATION IS AVAILABLE ON THE WEB THROUGH THE WA SECRETARY OF STATE CHARITABLE SOLICITATIONS AND TRUSTS. IMAGINE HOUSING AND AFFILIATES POSTS ITS ANNUAL REPORT ON OUR WEBSITE WHICH INCLUDES FINANCIAL INFORMATION AND CONTACT INFORMATION FOR THOSE WHO WANT ADDITIONAL DETAILS. FINANCIAL INFORMATION IS ALSO AVAILABLE THROUGH INDEPENDENT WEBSITES, SUCH AS GUIDESTAR. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSEEING AND SELECTING AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. ROOTS I LLC 1722 138TH PLACE NE BELLEVUE WA 98005 263349075 HOLDS LIMITED PARTNERSHIP INTEREST IN LOW-INCOME HOUSING PARTNERSHIP WA -19805 1031477 IMAGINE HOUSING AND AFFILIATES RUBY LLC 1722 138TH PLACE NE BELLEVUE WA 98005 204128933 HOLDS LIMITED PARTNERSHIP INTEREST IN LOW-INCOME HOUSING PARTNERSHIP WA -38 476835 IMAGINE HOUSING AND AFFILIATES SOUTH KTOD DEVELOPMENT LLC 1722 138TH PLACE NE BELLEVUE WA 98005 943110312 HOLDS LIMITED PARTNERSHIP INTEREST IN LOW-INCOME HOUSING PARTNERSHIP WA 0 0 IMAGINE HOUSING AND AFFILIATES IMAGINE GARDENS LLC 1722 138TH PLACE NE BELLEVUE WA 98005 463525704 HOLDS LIMITED PARTNERSHIP INTEREST IN LOW-INCOME HOUSING PARTNERSHIP WA -208695 3627949 IMAGINE HOUSING AND AFFILIATES CHALET APARTMENTS HOLDINGS LLC 1722 138TH PLACE NE BELLEVUE WA 98005 943110312 HOLDS LIMITED PARTNERSHIP INTEREST IN LOW-INCOME HOUSING PARTNERSHIP WA -73920 1962438 IMAGINE HOUSING AND AFFILIATES GRACE PLACE MI LLC 1722 138TH PLACE NE BELLEVUE WA 98005 851536516 HOLDS LIMITED PARTNERSHIP INTEREST IN LOW-INCOME HOUSING PARTNERSHIP WA IMAGINE HOUSING AND AFFILIATES KIRKLAND PLAZA SENIOR LLC 1722 138TH PLACE NE BELLEVUE WA 98005 852630897 HOLDS LIMITED PARTNERSHIP INTEREST IN LOW-INCOME HOUSING PARTNERSHIP WA IMAGINE HOUSING AND AFFILIATES BLOCK 6B 9 MANAGER LLC 1722 138TH PLACE NE BELLEVUE WA 98005 823939674 HOLDS LIMITED PARTNERSHIP INTEREST IN LOW-INCOME HOUSING PARTNERSHIP WA IMAGINE HOUSING AND AFFILIATES BLOCK 6B 4 MANAGER LLC 1722 138TH PLACE NE BELLEVUE WA 98005 823939431 HOLDS LIMITED PARTNERSHIP INTEREST IN LOW-INCOME HOUSING PARTNERSHIP WA IMAGINE HOUSING AND AFFILIATES MINE HILL LP 1722 138TH PLACE NE BELLEVUE WA 98005 204129002 LOW-INCOME HOUSING WA 13189 4653369 IMAGINE HOUSING AND AFFILIATES EAST VILLAGE LLC 1722 138TH PLACE NE BELLEVUE WA 98005 912184659 LOW-INCOME HOUSING WA -139310 7501699 IMAGINE HOUSING AND AFFILIATES 280 CLARK LIMITED PARTNERSHIP 1722 138TH PLACE NE BELLEVUE WA 98005 208798867 LOW-INCOME HOUSING WA 343007 6505524 IMAGINE HOUSING AND AFFILIATES IMAGINE HOUSING COMMUNITIES 1722 138TH PLACE NE BELLEVUE WA 98005 911559906 LOW INCOME HOUSING & GP OF A LOW-INCOME HOUSING PARTNERSHIP WA 501(C)(3) LINE 12A, I IMAGINE HOUSING AND AFFILIATES 1 ST ANDREWS LP 1722 138TH PLACE NE BELLEVUE WA 98005 911514437 LOW-INCOME HOUSING WA IMAGINE HOUSING AND AFFILIATES RELATED -10633 1456520 0 0 0.99000 TOTEM LAKE PHASE I LLC 1722 138TH PLACE NE BELLEVUE WA 98005 271659211 LOW-INCOME HOUSING WA N/A RELATED -38 476835 0 1 0.00010 KTOD LLC 1722 138TH PLACE NE BELLEVUE WA 98005 454001964 LOW-INCOME HOUSING WA IMAGINE HOUSING AND AFFILIATES RELATED 0 1 0.00010 30BELLEVUE LLC 1722 138TH PLACE NE BELLEVUE WA 98005 814730232 LOW-INCOME HOUSING WA IMAGINE HOUSING AND AFFILIATES RELATED 0 1 0.00010 ATHENE LLC 1722 138TH PLACE NE BELLEVUE WA 98005 810950404 LOW-INCOME HOUSING WA IMAGINE HOUSING AND AFFILIATES RELATED 0 1 0.00010 SAMMA SENIOR APARTMENTS MANAGER LLC 1722 138TH PLACE NE BELLEVUE WA 98005 873274914 INVESTMENT IN REAL ESTATE WA IMAGINE HOUSING C 100 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 1 1 1 0 KTOD LLC L 101244 CASH