WASHINGTON MULTI-FAMILY HOUSING AS… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2001

Legal Domicile

Principal Officer

NICHOLAS MARIN-KUMKO

Phone

4256569077

Tax Period

2023-01-01 to 2023-12-31

WASHINGTON MULTI-FAMILY HOUSING ASSOCIATION, founded in 2001, is a community nonprofit in the Community Improvement sector that reported $2.6M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Expenses of $3.2M exceeded revenue, resulting in a 25% operating deficit.

Mission

PROMOTE CAREER DEVELOPMENT BY PROVIDING QUALITY EDUCATION. ENCOURAGE MUTUAL SUPPORT FOR OUR MEMBERS, THE MULTIFAMILY INDUSTRY AND THE COMMUNITY. ADVOCATE FOR CONDITIONS FAVORABLE TO THE MULTIFAMILY INDUSTRY.

Program Service Accomplishments

Program 1

EDUCATIONAL SEMINARS: THE ASSOCIATION PROVIDES CLASSROOM AND ONLINE EDUCATIONAL COURSES THROUGH THE NATIONAL APARTMENT ASSOCIATION, SUCH AS CERTIFIED APARTMENT MANAGER, CERTIFIED APARTMENT...

EDUCATIONAL SEMINARS: THE ASSOCIATION PROVIDES CLASSROOM AND ONLINE EDUCATIONAL COURSES THROUGH THE NATIONAL APARTMENT ASSOCIATION, SUCH AS CERTIFIED APARTMENT MANAGER, CERTIFIED APARTMENT MAINTENANCE TECHNICIAN, CERTIFIED APARTMENT SUPPLIER, CERTIFIED APARTMENT PORTFOLIO SUPERVISOR AND NATIONAL APARTMENT LEASING PROFESSIONAL. THE ASSOCIATION ALSO PROVIDES PERIODIC TRAINING SEMINARS SUCH AS FAIR HOUSING, POOL MAINTENANCE, MARKETING, LEADERSHIP AND FINANCIAL MANAGEMENT.

Program 2

MEMBERSHIP MEETINGS: THE ASSOCIATION WILL HAVE PERIODIC MEMBERSHIP MEETINGS AND AN ANNUAL AWARDS GALA. THE AVERAGE ATTENDANCE OF MEMBERSHIP MEETINGS IS 75. THE EMERALD AWARDS IS AN EVENT WHEREBY...

MEMBERSHIP MEETINGS: THE ASSOCIATION WILL HAVE PERIODIC MEMBERSHIP MEETINGS AND AN ANNUAL AWARDS GALA. THE AVERAGE ATTENDANCE OF MEMBERSHIP MEETINGS IS 75. THE EMERALD AWARDS IS AN EVENT WHEREBY MEMBER COMPANIES CAN NOMINATE INDIVIDUALS FOR A VARIETY OF INDUSTRY AWARDS, SUCH AS PORTFOLIO MANAGER OF THE YEAR OR APARTMENT MANAGER OF THE YEAR. THE AVERAGE NUMBER OF NOMINEES IS 400 AND THE AVERAGE ATTENDANCE IS 1,200.

Program 3

TRADE SHOWS AND CONFERENCES:THE ASSOCIATION CONDUCTS AN ANNUAL ECONOMIC FORECAST CONFERENCE CALLED WASHINGTON APARTMENT OUTLOOK INTENDED TO PROVIDE INFORMATION ON REGIONAL ECONOMIC CONDITIONS...

TRADE SHOWS AND CONFERENCES:THE ASSOCIATION CONDUCTS AN ANNUAL ECONOMIC FORECAST CONFERENCE CALLED WASHINGTON APARTMENT OUTLOOK INTENDED TO PROVIDE INFORMATION ON REGIONAL ECONOMIC CONDITIONS AFFECTING THE APARTMENT INDUSTRY TO APPROXIMATELY 650 MEMBERS AND OTHER INVITED GUESTS IN THE MULTI-FAMILY HOUSING INDUSTRY. THE ASSOCIATION DEVELOPS AN ANNUAL INDUSTRY TRADE SHOW AND EDUCATIONAL CONFERENCE TITLED EDUCATION CONFERENCE AND EXPOSITION. CLASSES ARE OFFERED TO MEMBER ATTENDEES ON A VARIETY OF TOPICS. AVERAGE ATTENDANCE INCLUDES 1,000 MEMBERS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,207,760

Investment Income $20,192

Other Revenue $326,845

TOTAL REVENUE $2,554,797

Expense Breakdown

Grants Paid $35,683

Salaries & Benefits $1,379,141

Fundraising Expenses $0

Other Expenses $1,768,391

TOTAL EXPENSES $3,183,215

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,554,797	$2,810,390	-0.1%
Expenses	$3,183,215	$2,889,315	+0.1%
Net Income	$-628,418	$-78,925	+7.0%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$233,586

Total Directors

Key Employees

$365,492

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
TALI REINER	PRESIDENT	5.00	Officer Director	$0	$0	$0
NATASHA AMIRA	IMMEDIATE PAST PRESIDENT	2.00	Officer Director	$0	$0	$0
RON BURKHARDT	VICE PRESIDENT (THRU 06/23)	2.00	Officer Director	$0	$0	$0
JOHN MAIHOFER	TREASURER (THRU 06/23)/VP FROM 06/23	2.00	Officer Director	$0	$0	$0
ANGIE BENTLER	SECRETARY/TREASURER	2.00	Officer Director	$0	$0	$0
RUSS PENGELLY	VP OF THE SUPPLIER COUNCIL	2.00	Officer Director	$0	$0	$0
BRETT WALLER	BOARD MEMBER	2.00	Director	$0	$0	$0
SHANNON MITCHELL	BOARD MEMBER	2.00	Director	$0	$0	$0
ED LEIGH	BOARD MEMBER	2.00	Director	$0	$0	$0
JENNIFER PERTZBORN	BOARD MEMBER	2.00	Director	$0	$0	$0
CLAUDIA LYTTON	BOARD MEMBER	2.00	Director	$0	$0	$0
AARON HANSEN	BOARD MEMBER (THRU 05/23)	2.00	Director	$0	$0	$0
KATIE SHEREMET	BOARD MEMBER	2.00	Director	$0	$0	$0
AMY CURTIS	BOARD MEMBER	2.00	Director	$0	$0	$0
WINI LEUNG	BOARD MEMBER	2.00	Director	$0	$0	$0
KARI ANDERSON	BOARD MEMBER (THRU 03/23)	2.00	Director	$0	$0	$0
CORI MCLEOD	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRISTINA CHISHOLM	BOARD MEMBER	2.00	Director	$0	$0	$0
MARK SIMS	BOARD MEMBER	2.00	Director	$0	$0	$0
JENNIFER FIRTH	BOARD MEMBER	2.00	Director	$0	$0	$0
LIZ BARNES	BOARD MEMBER	2.00	Director	$0	$0	$0
LAURA KITTS	BOARD MEMBER	2.00	Director	$0	$0	$0
NICHOLAS MARIN-KUMKO	EXECUTIVE DIRECTOR	40.00	Officer	$222,000	$11,586	$233,586
SLOANE CERBANA	VICE PRESIDENT OF OPERATIONS	40.00	Key Emp	$184,000	$4,615	$188,615
CHRISTOPHER RYAN MAKINSTER	DIRECTOR OF GOVERNMENT AFFAIRS	40.00	Key Emp	$171,200	$5,677	$176,877
PATRICIA JOHNSON	SENIOR DIRECTOR, EVENTS & MARKETING	40.00	Highest	$140,625	$11,512	$152,137
KATRINA BISHOP	DIRECTOR OF OFFICE SERVICES	40.00	Highest	$101,646	$10,624	$112,270
JASON LOUGHRIDGE	CAREER DEVELOPMENT MANAGER	40.00	Highest	$106,751	$7,980	$114,731

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$2,554,797	$3,183,215	$2,098,998	$-628,418
2022	$2,810,390	$2,889,315	$2,535,688	$-78,925
2021	$2,345,053	$1,936,914	$2,948,737	$408,139
2020	$2,242,887	$1,783,644	$2,276,489	$459,243
2019	$2,507,573	$2,110,067	$2,023,502	$397,506
2018	$2,118,805	$1,786,287	$1,580,994	$332,518

WASHINGTON MULTI-FAMILY HOUSING ASSOCIATION