Charity Review

Issued: November 2017 Expires: November 2019

Imagine Housing

Accredited Charity
Meets Standards
 
(425) 576-5190 10604 NE 38th Pl Ste 215, Kirkland WA 98033-7932 www.imaginehousing.org
  1. Conclusions
  2. Purpose
  3. Programs
  4. Governance & Staff
  5. Fund Raising
  6. Tax Status
  7. Financial
Conclusions

Imagine Housing meets the 20 Standards for Charity Accountability.

Purpose

Imagine Housing’s mission is to develop affordable housing, build welcoming communities, and foster vibrant futures.

Incorporated: 1989 in WA

Also Known As: Andrew's Heights , Ellsworth House , Kirkland Plaza , Terrace Hill

Programs

Imagine Housing builds hope and strengthens communities in East King County by developing affordable rental homes and supporting their residents so they can lead stable, healthy and productive lives. By building attractive, affordable, permanent apartment homes for low-income residents, Imagine Housing offers its residents a safe and stable place to live. Their supportive services team works with residents to help ensure that they can maintain their housing by building their confidence and their educational, employment, financial and life management skills. They also provide academic and social enrichment activities for children. Imagine Housing is committed to helping children succeed in school so they can succeed in life and break the cycle of poverty in their families.

Residents: Imagine Housing communities are home to over 1,200 people whose income is below 60% of the area median income. Our residents include families, veterans, single parents, youth and adults who have been homeless, survivors of domestic violence, and people on a fixed income due to age, health, or disability. Their residents have diverse backgrounds, needs, and goals. Imagine Housing’s affordable homes offer them a stable place to build their future.

Housing: Imagine Housing develops permanent affordable rental homes in East King County. Their apartments provide individuals and families a place to live near their jobs, good schools, transportation, and health services. They create welcoming communities and offer individualized support to allow each resident to pursue and achieve their goals.

Imagine Housing owns and manages 14 apartment communities across the Eastside: 

Andrew’s Arms: 820 Front St, Issaquah, WA 98027

Andrew’s Glen: 4220 Factoria Blvd SE, Bellevue, WA 98006

Andrew’s Heights: 4087 129th Pl SE, Bellevue, WA 98006

Athene: 12531 NE 124th St, Kirkland, WA 98034

Chalet: 2627 148th Ave SE, Bellevue, WA 98007

Ellsworth House: 2720 76th Ave SE, Mercer Island, WA 98040

Francis Village: 12601 NE 124th St, Kirkland, WA 98034

Highland Gardens: 4575 Klahanie Dr SE, Sammamish, WA 98029

Johnson Hill: 280 SW Clark St, Issaquah, WA 98027

Kirkland Plaza: 320 6th Ave, Kirkland, WA 98033

Mine Hill: 245 SW Clark St, Issaquah, WA 98027

Rose Crest at Talus: 341 Shangri La Way, Issaquah, WA 98027

Terrace Hill: 8704 164th Ave NE, Redmond, WA 98052

Velocity: 10711 NE 37th Ct, Kirkland, WA 98033

Governance & Staff

Board Chair: Mr. Garrett Guiler, Portfolio Manager Business Affiliation: Microsoft

CEO: Ms. Villette Nolon, Executive Director

Board Size: 22

Staff: 20

Fund Raising
Method(s) used: Direct Mail Appeals Invitations to Fundraising Events Print Advertisements (Newspapers, Magazines, etc.) Grant Proposals Internet Appeals Planned Giving Arrangements Appeals via Social Media (Facebook, etc.)

% of Related Contributions on Fundraising: 25.27%

Tax Status

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.

Financial

The following information is based on Imagine Housing's Audited Financial Statements for the fiscal year ending Saturday, December 31, 2016.

Source of Funds
Special event revenue $71,012
Less: cost of direct benefits to donors ($51,592)
Government grants $514,157
Contributions $757,985
Rental income, net $2,229,769
Management fees $219,854
Development fees $500,000
Laundry and miscellaneous tenant fees $34,099
Interest income $5,479
Loss on investments in limited partnerships and limited liability companies ($120)
Other $18,310
Capital grants and contributions $6,213
Total Income: $4,305,166
 
Fusion Chart
 
Program Expenses: $3,841,099
Fundraising Expenses: $327,997
Administrative Expenses: $507,714
Total Expenses: $4,676,810
 
Income in Excess of Expenses: ($371,644)
 
Beginning Net Assets: $8,392,260
Ending Net Assets: $8,020,616
Total Liabilities: $20,380,228
Total Assets: $28,400,844


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This report is not to be used for fund raising or promotional purposes.

Standards Legend

  • Meets Standards IconMeets Standards
  • Standards Not Met IconStandards Not Met
  • Did Not Disclose IconDid Not Disclose
  • Review in Progress IconReview in Progress
  • Unable to Verify IconUnable to Verify
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Standard 1: Board Oversight


Description:

Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.

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Standard 2: Board Size


Description:

Soliciting organizations shall have a board of directors with a minimum of five voting members.

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Standard 3: Board Meetings


Description:

An organization shall have a minimum of three evenly spaced meetings per year of the full governing body with a majority in attendance, with face-to-face participation. A conference call of the full board can substitute for one of the three meetings of the governing body. For all meetings, alternative modes of participation are acceptable for those with physical disabilities.

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Standard 4: Board Compensation


Description:

Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.

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Standard 5: Conflict of Interest


Description:

No transaction(s) in which any board or staff members have material conflicting interests with the charity resulting from any relationship or business affiliation. Factors that will be considered when concluding whether or not a related party transaction constitutes a conflict of interest and if such a conflict is material, include, but are not limited to: any arm's length procedures established by the charity; the size of the transaction relative to like expenses of the charity; whether the interested party participated in the board vote on the transaction; if competitive bids were sought and whether the transaction is one-time, recurring or ongoing.

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Standard 6: Effectiveness Policy


Description:

Have a board policy of assessing, no less than every two years, the organization's performance and effectiveness and of determining future actions required to achieve its mission.

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Standard 7: Effectiveness Report


Description:

Submit to the organization's governing body, for its approval, a written report that outlines the results of the aforementioned performance and effectiveness assessment and recommendations for future actions.

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Standard 8: Program Expenses


Description:

Spend at least 65% of its total expenses on program activities.

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Standard 9: Fund Raising Expenses


Description:

Spending should be no more than 35% of related contributions on fund raising. Related contributions include donations, legacies, and other gifts received as a result of fund raising efforts.

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Standard 10: Accumulating Funds


Description:

Avoid accumulating funds that could be used for current program activities. To meet this standard, the charity's unrestricted net assets available for use should not be more than three times the size of the past year's expenses or three times the size of the current year's budget, whichever is higher.

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Standard 11: Audit Report


Description:

Make available to all, on request, complete annual financial statements prepared in accordance with generally accepted accounting principles. When total annual gross income exceeds $500,000, these statements should be audited in accordance with generally accepted auditing standards. For charities whose annual gross income is less than $500,000, a review by a certified public accountant is sufficient to meet this standard. For charities whose annual gross income is less than $250,000, an internally produced, complete financial statement is sufficient to meet this standard.

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Standard 12: Detailed Expense Breakdown


Description:

Include in the financial statements a breakdown of expenses (e.g., salaries, travel, postage, etc.) that shows what portion of these expenses was allocated to program, fund raising, and administrative activities. If the charity has more than one major program category, the schedule should provide a breakdown for each category.

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Standard 13: Accurate Expense Reporting


Description:

Accurately report the charity's expenses, including any joint cost allocations, in its financial statements. For example, audited or unaudited statements which inaccurately claim zero fund raising expenses or otherwise understate the amount a charity spends on fund raising, and/or overstate the amount it spends on programs will not meet this standard.

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Standard 14: Budget Plan


Description:

Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.

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Standard 15: Truthful Materials


Description:

Have solicitations and informational materials, distributed by any means, that are accurate, truthful and not misleading, both in whole and in part. Appeals that omit a clear description of program(s) for which contributions are sought will not meet this standard. A charity should also be able to substantiate that the timing and nature of its expenditures are in accordance with what is stated, expressed, or implied in the charity's solicitations.

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Standard 16: Annual Report


Description:

Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.

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Standard 17: Website Disclosures


Description:

Include on any charity websites that solicit contributions, the same information that is recommended for annual reports, as well as the mailing address of the charity and electronic access to its most recent IRS Form 990.

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Standard 18: Donor Privacy


Description:

Address privacy concerns of donors by (a) providing in written appeals, at least annually, a means (e.g., such as a check off box) for both new and continuing donors to inform the charity if they do not want their name and address shared outside the organization, (b) providing a clear, prominent and easily accessible privacy policy on any of its websites that tells visitors (i) what information, if any, is being collected about them by the charity and how this information will be used, (ii) how to contact the charity to review personal information collected and request corrections, (iii) how to inform the charity (e.g., a check off box) that the visitor does not wish his/her personal information to be shared outside the organization, and (iv) what security measures the charity has in place to protect personal information.

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Standard 19: Cause Marketing Disclosures


Description:

Clearly disclose how the charity benefits from the sale of products or services (i.e., cause-related marketing) that state or imply that a charity will benefit from a consumer sale or transaction. Such promotions should disclose, at the point of solicitation: (a) the actual or anticipated portion of the purchase price that will benefit the charity (e.g., 5 cents will be contributed to abc charity for every xyz company product sold), (b) the duration of the campaign (e.g., the month of October), (c) any maximum or guaranteed minimum contribution amount (e.g., up to a maximum of $200,000).

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Standard 20: Complaints


Description:

Respond promptly to and act on complaints brought to its attention by the BBB Wise Giving Alliance and/or local Better Business Bureaus about fund raising practices, privacy policy violations and/or other issues.