HOUSING DEVELOPMENT CONSORTIUM OF … - 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

1988

Legal Domicile

Principal Officer

PATIENCE MALABA

Phone

2066829541

Tax Period

2024-01-01 to 2024-12-31

HOUSING DEVELOPMENT CONSORTIUM OF SEATTLE - KING COUNTY, founded in 1988, is a community nonprofit in the Housing & Shelter sector that reported $1.6M in total revenue in fiscal year 2024. Revenue decreased 10% compared to the prior year. Expenses of $1.5M left a modest 5% surplus.

Mission

PROMOTE THE LONG-TERM AVAILABILITY OF AFFORDABLE HOUSING TO LOW-INCOME PERSONS.

Program Service Accomplishments

Program 1

Expenses: $868,006

THE HOUSING DEVELOPMENT CONSORTIUM PROVIDES A RANGE OF MEMBER SERVICES, BRINGING TOGETHER ALL SECTOR DISCIPLINES AND PROFESSIONS TO DISCUSS, DELIBERATE, AND ACT TO INCREASE THE QUALITY AND...

THE HOUSING DEVELOPMENT CONSORTIUM PROVIDES A RANGE OF MEMBER SERVICES, BRINGING TOGETHER ALL SECTOR DISCIPLINES AND PROFESSIONS TO DISCUSS, DELIBERATE, AND ACT TO INCREASE THE QUALITY AND AVAILABILITY OF AFFORDABLE HOUSING IN KING COUNTY. HDC HOSTS/SPONSORS WORKSHOPS, SEMINARS, WEBINARS AND A VARIETY OF FORUMS FOR MEMBERS TO LEARN INDUSTRY BEST PRACTICES, DEVELOPMENT TECHNIQUES AND SKILLS, AND FACILITATE MEMBER ORGANIZATIONS SHARING IDEAS, REFLECT ON LESSONS LEARNED AND EXPLORE OPPORTUNITIES TO BETTER SERVE THE COMMUNITY.

Program 2

Expenses: $61,153

HDC'S GOAL IS TO INCREASE THE PRODUCTION OF AFFORDABLE HOUSING IN KING COUNTY THROUGH FAVORABLE PUBLIC POLICY, INCREASED RESOURCES, GREATER SOURCE EFFICIENCY, AND BROAD ALLIANCES COMMITTED TO SOCIAL EQUITY WITHIN SUSTAINABLE COMMUNITIES. WORKING CLOSELY WITH GOVERNMENT, HOUSING PROVIDERS, EQUITY ADVOCATES, BUSINESSES, AND COMMUNITY COALITIONS TO IMPLEMENT PUBLIC POLICIES THAT CREATE SAFE, HEALTHY, AFFORDABLE HOMES THROUGHOUT KING COUNTY. IN 2021 HDC WORKED TO: 1) FUND AFFORDABLE HOMES, 2) BUILD AND MAINTAIN INCLUSIVE COMMUNITIES, 3) IMPROVE THE HEALTH OF HOUSING, AND 4) SUPPORT ADOPTION OF AFFORDABLE HOUSING STRATEGIES IN JURISDICTION THROUGHOUT KING COUNTY.

Program 3

LEVY

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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 (2024)

Revenue Breakdown

Contributions & Grants $1,707,571

Program Service Revenue $24,847

Investment Income $22,666

Other Revenue $-117,289

TOTAL REVENUE $1,637,795

Expense Breakdown

Grants Paid $5,360

Salaries & Benefits $1,068,020

Fundraising Expenses $180,789

Program Expenses $958,419

Other Expenses $475,104

TOTAL EXPENSES $1,548,484

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,637,795	$1,813,242	-0.1%
Expenses	$1,548,484	$1,549,275	0.0%
Net Income	$89,311	$263,967	-0.7%

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

N/A

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

$183,846

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PATIENCE MALABA	EXECUTIVE DI	40.00	Officer	$174,645	$9,201	$183,846
KATE SMITH	PRESIDENT	N/A	Officer Director	$0	$0	$0
GRACE KIM	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
ELIZABETH RINEHART	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
DAN LANDES	SECRETARY	N/A	Officer Director	$0	$0	$0
SAI CHALEUNPHONH	TREASURER	N/A	Officer Director	$0	$0	$0
DERRICK BELGARDE	DIRECTOR	N/A	Director	$0	$0	$0
SUSAN BOYD	DIRECTOR	N/A	Director	$0	$0	$0
TERRY GALINEY	DIRECTOR	N/A	Director	$0	$0	$0
JOEL ING	DIRECTOR	N/A	Director	$0	$0	$0
JARED JOHNSON	DIRECTOR	N/A	Director	$0	$0	$0
MOLLY JUDGE	DIRECTOR	N/A	Director	$0	$0	$0
ALISA LUBER	DIRECTOR	N/A	Director	$0	$0	$0
SUNAREE MARSHALL	DIRECTOR	N/A	Director	$0	$0	$0
LINDSAY MASTERS	DIRECTOR	N/A	Director	$0	$0	$0
MICHELLE MORLAN	DIRECTOR	N/A	Director	$0	$0	$0
ANDREW OOMMEN	DIRECTOR	N/A	Director	$0	$0	$0
ALEX PACE	DIRECTOR	N/A	Director	$0	$0	$0
AMANDA SANTO	DIRECTOR	N/A	Director	$0	$0	$0
DARRYL SMITH	DIRECTOR	N/A	Director	$0	$0	$0
VANESSA TRAN	DIRECTOR	N/A	Director	$0	$0	$0
STEPHANIE VELASCO	DIRECTOR	N/A	Director	$0	$0	$0
BUNTHAY CHEAM	BOARD FELLOW	N/A	Director	$0	$0	$0

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	$1,637,795	$1,548,484	$1,203,547	$89,311
2023	$1,813,242	$1,549,275	$1,126,232	$263,967
2022	$1,395,469	$1,666,590	$946,953	$-271,121
2021	$1,401,217	$1,358,128	$1,052,859	$43,089
2020	$1,437,348	$1,279,047	$1,175,703	$158,301
2019	$1,297,427	$1,079,521	$900,638	$217,906
2018	$1,267,634	$1,238,993	$708,565	$28,641
2018	$1,267,634	$1,238,993	$708,565	$28,641

HOUSING DEVELOPMENT CONSORTIUM OF SEATTLE - KING COUNTY