Habitat for Humanity of Snohomish County

Nonprofit profile at a glance

EIN
911528130
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Lynnwood, WA, USA
Phone
4252586289
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,768,582
Expenses
$1,665,457
Assets
$3,045,673
Liabilities
$1,274,882

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • COREY PREUGSCHAT (PRESIDENT)
  • STEVEN LI (EXECUTIVE DIRECTOR)

Highest reported compensation

  • STEVEN LI (EXECUTIVE DIRECTOR): $108,682 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Habitat for humanity snohomish county strives to eliminate substandard housing and end the cycle of poverty by partnering with homeowners to build, repair, and preserve decent and affordable homes in our neighborhoods. With support from the community, we help hard-working households achieve the strength, stability, and independence they need to build a better life for themselves and their families. Through shelter, we empower.

What it reported doing in 2024

Habitat for humanity of snohomish county builds, repairs, and preserves affordable homes in our communities. Through our homeownership program, qualified homebuyers partner with habitat and the community to help build their own houses by putting in sweat, equity, and purchasing their homes with an affordable mortgage. Twenty-four affordable homes have been built and sold through our homeownership program since 2006. Our home repair service assists qualified low-income homeowners in safely remaining in their affordable homes by making needed critical home repairs, preserving exteriors, and/or installing a limited range of aging-in-place and accessibility improvements. The home repair service has completed 48 projects and served 78 individuals since the program was launched in 2020.

Operating model

Revenue model
Donor-supported. 95% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 60
  • Transparency & Controls: 92
  • Accountability: 100
  • Sustainability: 51
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60%; rating input score 60
  • Program expense ratio: 66.3%; rating input score 66
  • Fundraising efficiency: $12.67 raised per $1 spent on fundraising; rating input score 45; 45th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.8%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 1.83; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.42; rating input score 19; 19th percentile among comparable filings
  • Officer compensation ratio: 6.5%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 4.4% per year; rating input score 100; 39th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 0.6% per year; rating input score 100; 20th percentile among comparable filings

Details

  • Where the money goes: 60% of revenue deployed · 66.3% of spending went to programs
  • Governance: 9 of 9 board members independent · 8 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1.1M in reported program spending
  • Leadership: top reported pay $109K · 10 people listed
  • Consistency: 34 of 34 current checks pass
  • Schedules: 6 filed schedules · includes major donors
  • Filing history: 8 filing years from 2017 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 45/100.
  • Review — Sustainability: Operating margin scored 52/100.
  • High — Sustainability: Liabilities to assets ratio scored 19/100.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.