2025-11-07T17:16:34-06:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 10700 NORTHUP WAY SUITE 200 BELLEVUE WA 98004 990 2024-01-01 842919236 GEORGETOWN COMMUNITY DEVELOPMENT AUTHORITY GEOR 2064201342 6562 5TH AVENUE S SEATTLE WA 98108 LEE STRIAR TREASURER 2064201342 2025-11-05 1 0 X KURT BENNION CPA P01469618 4252506100 2025-10-23 2024 2025-03-06 01:10:19Z X WATERSHED COMMUNITY DEVELOPMENT AMY NGUYEN 6562 5TH AVENUE S SEATTLE WA 98108 1478175 0 X WWW.WATERSHEDCOMMUNITY.ORG X 2019 WA WATERSHED BUILDS RESILIENT COMMUNITY THROUGH AFFORDABLE PLACEMAKING AND PLACEKEEPING IN THE DUWAMISH VALLEY. WE CREATE AT THE INTERSECTION OF THE ARTS, EQUITY, AND COLLECTIVE WELL-BEING. 10 10 8 550 0 0 1364567 110588 1327323 1314279 51684 53308 0 0 2743574 1478175 0 0 0 0 455179 501705 28898 3829 44860 3599742 4040022 4083819 4545556 -1340245 -3067381 39206009 39277875 48493487 51632734 -9287478 -12354859 X GCDA BUILDS RESILIENT COMMUNITY THROUGH AFFORDABLE PLACEMAKING AND PLACEKEEPING IN THE DUWAMISH VALLEY. WE CREATE AT THE INTERSECTION OF THE ARTS, EQUITY, AND COLLECTIVE WELL-BEING. 0 0 3925765 0 1314279 WATERSHED (FORMERLY KNOWN AS GEORGETOWN COMMUNITY DEVELOPMENT AUTHORITY) IS A COMMUNITY-BASED 501(C)(3) NONPROFIT ORGANIZATION THAT OPERATES AFFORDABLE ARTIST AND ARTISAN WORK SPACES AND PLANS TO BUILD A VILLAGE OF WORKFORCE HOUSING AND COMMUNITY SPACE IN THE GEORGETOWN NEIGHBORHOOD OF SEATTLE. WE CENTER FOLKS WHO LIVE AND WORK IN THE DUWAMISH VALLEY; BIPOC INDIVIDUALS; ARTISTS; AND THOSE WHO COME FROM COMMUNITIES THAT HAVE BEEN, OR ARE AT RISK OF BEING, DISPLACED FROM THIS REGION.(CONTINUED IN SCHEDULE O)WATERSHED WAS FORMED IN 2019. AT ITS CORE IS EQUINOX STUDIOS, WHICH HAS OPERATED IN GEORGETOWN SINCE 2006 AND IS NOW A CORE PROGRAM OF WATERSHED. EQUINOX STUDIOS PROVIDES A CREATIVE HOME FOR OVER 125 ARTISTS AND ARTISANS WORKING IN AND ACROSS MANY CRAFTS AND DISCIPLINES.THE NEW LIVE/WORK DISTRICT NAMED "THE BEND" WILL BE LOCATED IN THE GEORGETOWN NEIGHBORHOOD OF SEATTLE. IT WILL INCLUDE UP TO 1,000 UNITS OF HOUSING, ALL OF WHICH WILL BE AFFORDABLE TO PEOPLE EARNING NO MORE THAN 80% OF AREA MEDIAN INCOME. THE BEND WILL ALSO INCLUDE AFFORDABLE COMMUNITY SPACES, NEIGHBORHOOD BUSINESSES, AND CULTURAL FACILITIES THAT ARE INTEGRATED WITH GEORGETOWN'S COMMERCIAL AND INDUSTRIAL CORE. IT WILL INCREASE JOB OPPORTUNITIES AND PROVIDE HOUSING FOR THOSE MOST AT RISK OF BEING IMPACTED BY TRENDS OF WEALTH-DRIVEN DISPLACEMENT IN SEATTLE. OUR AIM IS TO CULTIVATE LONG-TERM COMMUNITY WEALTH THROUGH THOUGHTFUL REAL ESTATE ACQUISITION AND DEVELOPMENT; COMMUNITY ENGAGEMENT AND OWNERSHIP; SPACE FOR SMALL BUSINESSES, NOT-FOR-PROFIT ORGANIZATIONS, AND ARTISTIC GROWTH; AND PROGRAMMING THAT BUILDS RELATIONSHIPS BETWEEN ALL THE ENTITIES THAT ARE PART OF THE BEND, THE GEORGETOWN NEIGHBORHOOD, AND GREATER DUWAMISH VALLEY. 3925765 1 1 0 0 0 0 0 0 1 0 1 0 1 0 1 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 0 1 54 0 1 8 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 0 1 1 X KATHLEEN DITCHARO 2064201342 6562 5TH AVENUE S SEATTLE WA 98108 KAY MORRISON DEPUTY DIRECTOR 40.00 X 71293 0 8631 JENNIFER TRUJILLO INTERIM EXECUTIVE DIRECTOR 40.00 X 0 0 0 RON POSTHUMA PRESIDENT 5.00 X X 0 0 0 ELIZABETH ROMNEY SECRETARY/TREASURER & DIRECTOR 5.00 X X 0 0 0 JOHN KIRSCHENBAUM DIRECTOR & SECRETARY 5.00 X X 0 0 0 LEE STRIAR TREASURER 5.00 X X 0 0 0 MARC COTE DIRECTOR 5.00 X 0 0 0 MARY DZIEWECZYNSKI DIRECTOR 5.00 X 0 0 0 ELIZABETH GAHAN DIRECTOR 5.00 X 0 0 0 KRISTINA GOETZ DIRECTOR 5.00 X 0 0 0 PAULINA LOPEZ DIRECTOR 5.00 X 0 0 0 JAY O'NEIL DIRECTOR 5.00 X 0 0 0 71293 0 8631 0 0 0 0 JLB INC (DBA GSD BOOKKEEPING) 2131 N 86TH STREET SEATTLE WA 98103 MANAGEMENT & FINANCIAL SERVICES 255099 COMMUNITY DEVELOPMENT PARTNERS LLC 312 31ST AVENUE SEATTLE WA 98122 CONSULTING SERVICES 114000 SIGNAL ARCHITECTURE RESEARCH 89 YESLER WAY 301 SEATTLE WA 98104 ARCHITECTURAL DESIGN & DEVELOPMENT SVCS 108016 3 110588 110588 HOUSING REVENUE 531110 907677 907677 INVESTMENT IN GCP-1 LL 531110 396596 396596 ARTISAN REVENUE 531110 10006 10006 1314279 53308 53308 1478175 1314279 0 53308 416341 141880 274461 43025 16047 26978 42339 11858 30481 117875 117875 212438 212438 3829 3829 149614 149614 1913 1913 129622 124541 5081 273066 273066 9929 3291 6638 41031 41031 2431456 2371208 60248 310233 310233 57615 57615 REPAIR AND MAINTENANCE 116896 71449 45447 FISCAL AGENCY DISTRIBUT 111707 111707 OTHER EXPENSES 61042 47152 13890 DUES AND SUBSCRIPTIONS 15585 15585 4545556 3925765 574931 44860 1333822 591198 4186943 4300538 120144 161727 33553 52247 10676874 715404 9563413 9961470 24752 23562 23466456 23823052 476926 364081 39206009 39277875 297153 328860 48084 19963 40049626 44757675 50462 45543 6845000 5044001 100000 101596 1103162 1335096 48493487 51632734 X -9287478 -12354859 -9287478 -12354859 39206009 39277875 -3067381 0 X X 0 1 X 1 0 X 3430 9297 364567 110588 487882 282101 1171613 1327323 1314279 4095316 285531 1180910 1691890 1424867 4583198 0 0 0 4583198 15152 13345 47298 51684 53308 180787 15152 13345 47298 51684 53308 180787 15152 298876 1228208 1743574 1478175 4763985 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 31201 107658 111707 27152 1 X 7425536 713082 6712454 24181 2322 21859 3227157 3227157 9961470 INVESTMENT IN GEORGETOWN COMMUNITY PROPERTIES 1, LLC 23823052 F 23823052 DUE TO RELATED ORGANIZATION 1222928 RIGHT-OF-USE LEASE LIABILITIES 112168 1335096 X PART IV, LINE 1B: WATERSHED ACTS AS FISCAL AGENT FOR SMALL LOCAL NONPROFIT ORGANIZATIONS THAT HAVE NOT YET OBTAINED THEIR OWN TAX-EXEMPT STATUS. PART IV, LINE 2B: THE ORGANIZATION HOLDS SECURITY DEPOSITS FOR RENTAL/LEASE TENANTS. UPON TERMINATION OF THE LEASE, THE SECURITY DEPOSIT, LESS THE COST OF ANY REPAIRS, IS RETURNED TO THE TENANT. SECURITY DEPOSIT FUNDS ARE HELD IN A SINGLE NON-INTEREST BEARING BANK ACCOUNT THAT IS SEPARATED FROM OTHER BANK ACCOUNTS. PART X, LINE 2: THE ORGANIZATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION HAS EVALUATED ITS TAX POSITIONS AND CONCLUDED THAT IT HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. IN ADDITION, THE ORGANIZATION IS NOT AWARE OF ANY MATTERS THAT WOULD CAUSE THE LOSS OF ITS TAX-EXEMPT STATUS. X X X 1 CLOUDBREAK COLLECTIVE LLC PO BOX 10745 BAINBRIDGE ISLAND WA 98110 GRANT-WRITING 0 2500 65018 -62518 ROOSTERRABBITT LLC 2115 10TH AVENUE W SEATTLE WA 98119 GRANT-WRITING 0 0 30000 -30000 STUDIO 41 4009 SW BARTON STREET SEATTLE WA 98136 GRANT-WRITING 0 0 8145 -8145 2500 103163 -100663 WA A THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SIERRA VISTA 521383545 82652PAA1 2021-10-28 34008654 PROPERTY ACQUISITION, IMPROVEMENTS AND ENTITLEMENT COSTS 0 0 0 B THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF SIERRA VISTA 521383545 82652PAC7 2022-07-01 4499462 ACQUIRE, CONSTRUCT, IMPROVE, OPERATE AND EQUIP AFFORDABLE WORKSPACES 0 0 0 A 34008654 3400865 680173 29927616 2021 0 0 1 1 B 4499462 449946 89989 3942026 17500 2022 0 0 1 1 A 1 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 1 0 0 0 0 1 MASSACHUSETTS MUTUAL 10.000000000000 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 COMMUNITY DEVELOPMENT PARTNERS LLC SEE PART V 114000 MANAGEMENT SERVICES 0 PART IV, COLUMN B: THROUGH MAY 2023, COMMUNITY DEVELOPMENT PARTNERS LLC WAS JOINTLY OWNED BY BEN RANKIN AND RICHARD CONLIN. RICHARD CONLIN WAS A BOARD MEMBER OF WATERSHED COMMUNITY DEVELOPMENT THROUGH 2021. BEN RANKIN WAS EXECUTIVE DIRECTOR OF WATERSHED COMMUNITY DEVELOPMENT THROUGH JUNE 2022. FORM 990, PART VI, SECTION A, LINE 3 IN 2024, MANAGEMENT SERVICES WERE PROVIDED BY COMMUNITY DEVELOPMENT PARTNERS LLC AND JLB INC. (DBA: GSD BOOKKEEPING). JENNIFER TRUJILLO, INTERIM EXECUTIVE DIRECTOR, IS EMPLOYED BY JLB INC. AND RECEIVED $117,875 IN COMPENSATION FOR HER SERVICES IN 2024. FORM 990, PART VI, SECTION A, LINE 8B MINUTES ARE NOT KEPT AT COMMITTEE MEETINGS. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING, THE FORM 990 WAS REVIEWED BY THE EXECUTIVE DIRECTOR AND BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C EVERY YEAR, ALL OFFICERS AND BOARD MEMBERS MUST SIGN THE CONFLICT OF INTEREST FORM TO REMAIN COMPLIANT WITHIN THE RULES SET FORTH BY OUR GOVERNANCE COMMITTEE. WHENEVER THE BOARD OR A COMMITTEE CONSIDERS A TRANSACTION THAT INVOLVES AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST, THAT INDIVIDUAL IS REQUIRED TO FULLY DISCLOSE THE SITUATION. THE CONFLICTED INDIVIDUAL MUST ABSTAIN FROM VOTING ON ANY ASPECT OF THE TRANSACTION. BEFORE ENTERING A TRANSACTION THAT INVOLVES A CONFLICT OF INTEREST, THE BOARD EVALUATES OTHER OPTIONS THAT DO NOT INVOLVE A CONFLICT TO ENSURE THE TRANSACTION IS REASONABLE AND IN THE BEST INTEREST OF THE ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 15A THE INTERIM EXECUTIVE DIRECTOR'S COMPENSATION WAS DETERMINED BY THE BOARD OF DIRECTORS BASED ON THE FAIR MARKET VALUE IN THE LOCAL COMMUNITY. IN 2024, NO OTHER EMPLOYEES WERE IDENTIFIED AS "KEY AND NO OFFICERS WERE COMPENSATED. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THE AUTHORITY AND PROCESS FOR SELECTING THE FINANCIAL STATEMENT AUDITOR AND FOR OVERSEEING THE FINANCIAL STATEMENT AUDIT DID NOT CHANGE DURING THE YEAR. GEORGETOWN COMMUNITY PROPERTIES 1 LLC 6555 5TH AVENUE S 108 SEATTLE WA 98108 873679683 PROPERTY DEVELOPMENT WA GEORGETOWN COMMUNITY DEVELOPMENT AUTHORITY RELATED 80504 19700491 1 1 0.80000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0