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2020 Impact Report Meet Jennyfer Cesar and read about their journey to becoming first time homebuyers through HomeSight
Table of Contents Welcome to our Impact Report Our Mission Welcome to our Impact Report 03 Board of Directors 04 Our Staff Members 05 Community Development 06 HomeOwnership Center 07 Othello Square 08 Financials 09 2020 Highlights 10 HomeSight promotes social and economic equity to preserve and enhance economically and culturally diverse communities through affordable homeownership business development and community advocacy Our Vision HomeSight believes a community only thrives when given the opportunities and resources needed to create homeowners build strong small businesses and root community anchors That is why HomeSight strives to provide quality personalized homeownership opportunities for communities around the state and takes an integrated approach to providing technical assistance and resources to communities with low access to opportunity in SE Seattle That way communities can build shared prosperity in their unique ways and on their own terms Our Message 2020 was a year like no other On March 17th Washington State Governor Jay Inslee acted and shut down the state as COVID 19 draped over Washington Little did we know at the time that what was supposed to be a two week precaution turned into an indefinite timeframe The effects on our community and economy were immediate and devastating Like many Seattle organizations we faced the fears challenges and obstacles presented by the pandemic HomeSight immediately began working to find solutions for our community We searched for partners who were just as eager as we were to make sure our community was able to stay afloat and in some cases prosper during the pandemic and together we were able to distribute well over 10 000 000 in grants to black indigenous and people of color BIPOC owned businesses We found and created solutions to continue serving our mission and in many cases increased our impact in King and neighboring counties While most of us will look back at 2020 and tell ourselves our friends and our family that we are glad it s in the past here at HomeSight we chose to focus on the positive and life changing impacts we were able to make while collaborating with our neighbors and partners We set off the beginning of the year eager to celebrate our 30th year in business a milestone we were geared up excited and ready to commemorate with our community but COVID 19 had other plans and we responded In many ways 2020 was perhaps the most consequential year of our history We are pleased to share our impact during this extraordinary time Darryl Smith Executive Director Page 2 Michael Dotson Board President Page 3
Table of Contents Welcome to our Impact Report Our Mission Welcome to our Impact Report 03 Board of Directors 04 Our Staff Members 05 Community Development 06 HomeOwnership Center 07 Othello Square 08 Financials 09 2020 Highlights 10 HomeSight promotes social and economic equity to preserve and enhance economically and culturally diverse communities through affordable homeownership business development and community advocacy Our Vision HomeSight believes a community only thrives when given the opportunities and resources needed to create homeowners build strong small businesses and root community anchors That is why HomeSight strives to provide quality personalized homeownership opportunities for communities around the state and takes an integrated approach to providing technical assistance and resources to communities with low access to opportunity in SE Seattle That way communities can build shared prosperity in their unique ways and on their own terms Our Message 2020 was a year like no other On March 17th Washington State Governor Jay Inslee acted and shut down the state as COVID 19 draped over Washington Little did we know at the time that what was supposed to be a two week precaution turned into an indefinite timeframe The effects on our community and economy were immediate and devastating Like many Seattle organizations we faced the fears challenges and obstacles presented by the pandemic HomeSight immediately began working to find solutions for our community We searched for partners who were just as eager as we were to make sure our community was able to stay afloat and in some cases prosper during the pandemic and together we were able to distribute well over 10 000 000 in grants to black indigenous and people of color BIPOC owned businesses We found and created solutions to continue serving our mission and in many cases increased our impact in King and neighboring counties While most of us will look back at 2020 and tell ourselves our friends and our family that we are glad it s in the past here at HomeSight we chose to focus on the positive and life changing impacts we were able to make while collaborating with our neighbors and partners We set off the beginning of the year eager to celebrate our 30th year in business a milestone we were geared up excited and ready to commemorate with our community but COVID 19 had other plans and we responded In many ways 2020 was perhaps the most consequential year of our history We are pleased to share our impact during this extraordinary time Darryl Smith Executive Director Page 2 Michael Dotson Board President Page 3
Our Board of Directors Our Staff Members Unfortunately we couldn t get together to make a traditional team photo but these are far from traditional times so we thought we d make the best of it We got together to make a wonderful photo using Zoom our main venue to have staff meetings In Memory of Randy James Robinson January 7 1957 December 22 2020 On behalf of the HomeSight Board of Directors and staff we would like to express our sincere condolences on the passing of Randy Robinson Randy was a committed and dedicated HomeSight Board Member and was truly passionate about the mission and vision of the organization He graciously shared his vast knowledge and expertise with us for more than four years and his commitment to serving our community inspires us to continue our work in his memory He was a true gentleman in every regard and we will miss him greatly Page 4 Michael Dotson Board President Terry Miller Vice President Randy Robinson Treasurer Vice President CRA Community Outreach Officer Banner Bank Member since 2000 Associate Broker Caldwell Banker Bain Associates Member since 2006 Senior VP Heritage Bank Commissioner WSHFC Service years 2016 2020 Rob Lang Secretary Mateo Garibaldi Steve Williams CDK Construction Services Member since 2019 Waterbabies LLC Service years 2018 2020 Retired Member since 2005 Rebecca Bryant Natalie Hester Lynn Perkins Community Relations Manager Fred Hutchinson Cancer Research Center Member since 2020 Stand for Children Service years 2017 2020 Target Area Resident SE Seattle Service years 2004 2020 Katrina Freeburg Nadine Morgan Seattle Preparatory School Target Area Resident SE Seattle Member since 2017 Business Owner C M Properties Member since 1997 Herman Tam Mickey Ross Director of Philanthropy Kin On Member since 2020 President Senior Consult RCES LLC Member since 2020 Zoom Meeeng Rhonda Smith Banchero Corporate Relations Director Childhaven Member since 2020 Page 5
Our Board of Directors Our Staff Members Unfortunately we couldn t get together to make a traditional team photo but these are far from traditional times so we thought we d make the best of it We got together to make a wonderful photo using Zoom our main venue to have staff meetings In Memory of Randy James Robinson January 7 1957 December 22 2020 On behalf of the HomeSight Board of Directors and staff we would like to express our sincere condolences on the passing of Randy Robinson Randy was a committed and dedicated HomeSight Board Member and was truly passionate about the mission and vision of the organization He graciously shared his vast knowledge and expertise with us for more than four years and his commitment to serving our community inspires us to continue our work in his memory He was a true gentleman in every regard and we will miss him greatly Page 4 Michael Dotson Board President Terry Miller Vice President Randy Robinson Treasurer Vice President CRA Community Outreach Officer Banner Bank Member since 2000 Associate Broker Caldwell Banker Bain Associates Member since 2006 Senior VP Heritage Bank Commissioner WSHFC Service years 2016 2020 Rob Lang Secretary Mateo Garibaldi Steve Williams CDK Construction Services Member since 2019 Waterbabies LLC Service years 2018 2020 Retired Member since 2005 Rebecca Bryant Natalie Hester Lynn Perkins Community Relations Manager Fred Hutchinson Cancer Research Center Member since 2020 Stand for Children Service years 2017 2020 Target Area Resident SE Seattle Service years 2004 2020 Katrina Freeburg Nadine Morgan Seattle Preparatory School Target Area Resident SE Seattle Member since 2017 Business Owner C M Properties Member since 1997 Herman Tam Mickey Ross Director of Philanthropy Kin On Member since 2020 President Senior Consult RCES LLC Member since 2020 Zoom Meeeng Rhonda Smith Banchero Corporate Relations Director Childhaven Member since 2020 Page 5
Community Development H omeSight Community Development believes in an integrated approach to creating thriving communities We serve communities of color and Southeast Seattle residents who reside in areas which have low access to opportunity We create opportunities through listening to the community s needs providing necessary technical assistance and resources and advocacy Through these efforts we look to build shared prosperity within our communities and prevent alleviate inequitable and isolating development Page 6 HomeOwnership Center H omeSight has worked with families since 1990 creating more than 3 000 new homeowners with those being predominantly people of color and all with low to moderate income We re dedicated to helping homebuyers find a personalized path to homeownership put down roots in their communities and bring financial stability through generational wealth building Page 7
Community Development H omeSight Community Development believes in an integrated approach to creating thriving communities We serve communities of color and Southeast Seattle residents who reside in areas which have low access to opportunity We create opportunities through listening to the community s needs providing necessary technical assistance and resources and advocacy Through these efforts we look to build shared prosperity within our communities and prevent alleviate inequitable and isolating development Page 6 HomeOwnership Center H omeSight has worked with families since 1990 creating more than 3 000 new homeowners with those being predominantly people of color and all with low to moderate income We re dedicated to helping homebuyers find a personalized path to homeownership put down roots in their communities and bring financial stability through generational wealth building Page 7
Othello Square Financials A djacent to the Othello light rail station Othello Square will co locate a mix of vital amenities in four buildings on one campus The campus will include affordable retail space an early learning center a public charter school a business incubator cooperatively owned and mixed income housing a health clinic and multicultural services on one 3 2 acre campus Named Othello Square by community members this unique development is the result of a collective community vision Revenue Expenses Net Assets 2019 2018 Grants Contributions Earned Fees Loan Origination Reduction of Loan Discount Real Estate Development Income Other Income 4 047 161 1 421 591 970 031 471 993 145 430 6 409 793 1 785 989 1 509 460 1 203 046 167 116 Total Revenue 7 056 206 11 075 404 2019 2018 Homebuyer Services Lending Community Development Real Estate Development Finance Administration Fundraising 2 709 152 1 230 900 934 491 680 862 43 360 3 6411 979 1 307 537 873 093 331 195 97 028 Total Expenses 5 598 765 6 220 832 2019 2018 Assets Without Donor Restrictions Assets With Donor Restrictions 25 335 324 17 847 855 22 322 259 19 403 479 Total Net Assets 43 183 179 41 725 738 Includes over 2 million in special one time foreclosure mitigation grants from banks via NeighborWorks America Includes over 900 000 in one time sale of land Page 8 Page 9
Othello Square Financials A djacent to the Othello light rail station Othello Square will co locate a mix of vital amenities in four buildings on one campus The campus will include affordable retail space an early learning center a public charter school a business incubator cooperatively owned and mixed income housing a health clinic and multicultural services on one 3 2 acre campus Named Othello Square by community members this unique development is the result of a collective community vision Revenue Expenses Net Assets 2019 2018 Grants Contributions Earned Fees Loan Origination Reduction of Loan Discount Real Estate Development Income Other Income 4 047 161 1 421 591 970 031 471 993 145 430 6 409 793 1 785 989 1 509 460 1 203 046 167 116 Total Revenue 7 056 206 11 075 404 2019 2018 Homebuyer Services Lending Community Development Real Estate Development Finance Administration Fundraising 2 709 152 1 230 900 934 491 680 862 43 360 3 6411 979 1 307 537 873 093 331 195 97 028 Total Expenses 5 598 765 6 220 832 2019 2018 Assets Without Donor Restrictions Assets With Donor Restrictions 25 335 324 17 847 855 22 322 259 19 403 479 Total Net Assets 43 183 179 41 725 738 Includes over 2 million in special one time foreclosure mitigation grants from banks via NeighborWorks America Includes over 900 000 in one time sale of land Page 8 Page 9
2020 Highlights 2020 Highlights Jennyfer Cesar 2020 First Time Homebuyers As two millennials who were living in a one bedroom apartment in the Central District paying almost 2 000 in rent we had considered the idea of homeownership as something that was not within our means It was refreshing to know that this was not the case and in 2020 HomeSight helped Cesar and I achieve our goal of home ownership We began our process with Wanda a very knowledgeable counselor She was very helpful in going through our spending and analyzing our budget This really helped us in understanding what we needed to do to make buying a home a reality After our initial consultation we were given a workplan to help work on our credit build our savings and cut back on spending Wanda connected us with Ali Senior Loan Originator who explained the whole lending process and walked us through every question we had Ali was extremely important in making us feel informed and connected through the whole process We are grateful for HomeSight and the team there in May 2020 during a global pandemic in a world where everything seemed to be going wrong we were lucky enough to achieve our homeownership goals Thank you to everyone at HomeSight for making our dream a reality Premiered our 1st Drive In Movie Othello Park Pictures 96 neighbors safely gathered in their vehicles to enjoy the film SING at the Holly Park Community Church Maranatha SDA Church Lola s Lumpia Cuisine Little Miss Sweets NYC partnered together during the Othello Park Pictures to present Lumpia Dessert HomeSight pre paid for 40 meals for viewers We delivered 100 bags of Personal Protective Equipment to small businesses throughout the Rainier Valley Jennyfer Cesar In collaboration with our Othello Square Campus partners we created the Share the Bounty event This was a free family friendly drive thru food supply give away We handed out 300 gift cards 300 bags of school suppolies and 308 backs of food along with masks and hand sanitizer to our neighbors in need Page 10 HomeSight s Grant s Contracts Manager Meron became a firsttime homebuyer through HomeSight in 2020 It s our hope and pleasure to help our staff accomplish their dreams of homeownership We worked with a marketing team to create two unique videos featuring South East Seattle A video highlighting our annual Plate of Nations event to bolster participation in supporting local restaurants and a video featuring small business that continued to serve the community during the pandemic Page 11
2020 Highlights 2020 Highlights Jennyfer Cesar 2020 First Time Homebuyers As two millennials who were living in a one bedroom apartment in the Central District paying almost 2 000 in rent we had considered the idea of homeownership as something that was not within our means It was refreshing to know that this was not the case and in 2020 HomeSight helped Cesar and I achieve our goal of home ownership We began our process with Wanda a very knowledgeable counselor She was very helpful in going through our spending and analyzing our budget This really helped us in understanding what we needed to do to make buying a home a reality After our initial consultation we were given a workplan to help work on our credit build our savings and cut back on spending Wanda connected us with Ali Senior Loan Originator who explained the whole lending process and walked us through every question we had Ali was extremely important in making us feel informed and connected through the whole process We are grateful for HomeSight and the team there in May 2020 during a global pandemic in a world where everything seemed to be going wrong we were lucky enough to achieve our homeownership goals Thank you to everyone at HomeSight for making our dream a reality Premiered our 1st Drive In Movie Othello Park Pictures 96 neighbors safely gathered in their vehicles to enjoy the film SING at the Holly Park Community Church Maranatha SDA Church Lola s Lumpia Cuisine Little Miss Sweets NYC partnered together during the Othello Park Pictures to present Lumpia Dessert HomeSight pre paid for 40 meals for viewers We delivered 100 bags of Personal Protective Equipment to small businesses throughout the Rainier Valley Jennyfer Cesar In collaboration with our Othello Square Campus partners we created the Share the Bounty event This was a free family friendly drive thru food supply give away We handed out 300 gift cards 300 bags of school suppolies and 308 backs of food along with masks and hand sanitizer to our neighbors in need Page 10 HomeSight s Grant s Contracts Manager Meron became a firsttime homebuyer through HomeSight in 2020 It s our hope and pleasure to help our staff accomplish their dreams of homeownership We worked with a marketing team to create two unique videos featuring South East Seattle A video highlighting our annual Plate of Nations event to bolster participation in supporting local restaurants and a video featuring small business that continued to serve the community during the pandemic Page 11
Many thanks to all of our supporters partners funders and volunteers throughout the difficult year of 2020 Community Development HomeOwnership Center 5117 Rainier Ave S 4219 S Othello St 130 B Seattle WA 98118 Seattle WA 98118 p 206 723 4355 f 206 760 4220 p 206 723 4355 f 206 760 4210 For all inquiries regarding this report please contact Sekai Senwosret at sekai homesightwa org or 206 760 4206 NMLS 49289 NMLS 1694327