Homesight Community Development

Nonprofit profile at a glance

EIN
824218470
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019, Form 990-N 2023
Location
Seattle, WA, USA
Phone
2067604215
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$1,947,551
Expenses
$2,033,429
Assets
$3,455,081
Liabilities
$1,710,462

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

Leadership & pay

16 people listed

Executive titles in this filing

  • HERMAN TAM (PRESIDENT & TREASURER)
  • DARRYL SMITH (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DARRYL SMITH (EXECUTIVE DIRECTOR): $228,115 total reported compensation
  • TAMMIE ANDERS (DIR. OF FINANCE): $153,805 total reported compensation
  • SEKAI SENWOSRET (DIR. OF RESOURCE DEVELOPMENT): $152,423 total reported compensation

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

Overview

Mission

Hscd's primary purpose is to improve the physical, economic, and social environment of historically economically disadvantaged and depressed communitites in the puget sound region of king county, Washington.

What it reported doing in 2024

Real estate development projects have revitalized neighborhoods and business districts. Real estate development is currently serving as the lead developer for the othello square project, a uniquely integrated, culturally competent, and welcoming gateway center located in the heart of the othello neighborhood.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 54% for direct work, and 46% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 72
  • Accountability: 90
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 12th percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 98.5%; rating input score 99; 47th percentile among comparable filings
  • 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: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -4.4%; rating input score 25; 25th percentile among comparable filings
  • Total-asset coverage ratio: 1.7; rating input score 60; 60th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 5.5%; rating input score 52; 52nd percentile among comparable filings

Growth

  • Program expense growth: 50% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 50% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 8.8% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 9 of 9 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $2M in reported program spending
  • Leadership: top reported pay $228K · 16 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 25 of 26 current checks pass · 1 finding to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 2 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 13 filed money-flow records
  • Related organizations: 14 filed related-organization links
  • 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.

  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Operating margin scored 25/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • Review — Sustainability: Officer compensation ratio scored 52/100.