Homesight
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It reported loans to or from officers, directors or other insiders.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
HOMESIGHT CREATES AFFORDABLE HOMEOWNERSHIP OPPORTUNITIES THROUGH ITS HOMEBUYER EDUCATION AND LENDING PROGRAMS. THESE PROGRAMS PRIMARILY SERVE LOW AND MODERATE INCOME, FIRSTTIME HOMEBUYERS IN SEATTLE, KING, PIERCE, AND SNOHOMISH COUNTIES, AND SUPPORT LOCAL BUSINESSES. HOMESIGHT IS A COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION, CERTIFIED BY THE US DEPARTMENT OF TREASURY, AND IS A WASHINGTON STATE LICENSED CONSUMER LOAN COMPANY PROVIDING MORTGAGE LOANS STATEWIDE.
- Income
- $7.2 million
- Spending
- $4.1 million
- Spent on programs
- 56%
- Reserves
- 61.3 months of spending
- Largest source of income
- government grants, 39%
- Employees
- 51
- Volunteers
- 18
- Highest pay
- $228,115, executive director
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 84 out of 100.
Reserves
35 of 35Spendable reserves would cover 61.3 months of spending.
Debt
16 of 20It owes 25% of what it owns.
Living within its means
15 of 15Income exceeded spending by 42% of income.
Income trend
10 of 15Income fell 5% on the year before.
Spending floor
8 of 1556% of spending went to programs and raising each dollar of donations cost 4 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Good: 80 out of 100.
Independent board
25 of 2511 of 12 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
0 of 10Did not give the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
0 of 10Reports at least one of: diversion of assets, excess benefits, loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (1)
- $2.3 million spent. HOMEBUYER SERVICES & LENDING: HOMESIGHT'S HOMEBUYER EDUCATION AND COUNSELING PROGRAMS SERVE NEARLY 350 HOUSEHOLDS ANNUALLY, INCLUDING NEW AND EXISTING CUSTOMERS. IN 2024, OF THESE CUSTOMERS, 94% WERE AT OR BELOW 80% PERCENT OF THE AREA MEDIAN INCOME. HOMESIGHT'S MISSION IS TO SERVE PRIMARILY MODERATE-INCOME FAMILIES WISHING TO PURCHASE THEIR FIRST HOME, BUT AS A HUD-CERTIFIED HOUSING COUNSELING ONE-ON-ONE AGENCY, IT CANNOT DISCRIMINATE BASED ON INCOME. ITS HOMEBUYER PROGRAM CONSISTS OF COUNSELING AND NO-COST CLASSES ON ACHIEVING THE DREAM OF HOMEOWNERSHIP, OR AN ONLINE BUYER EDUCATION CURRICULUM FOR A NOMINAL FEE.HOMESIGHT DEVELOPED ITS REVOLVING LOAN FUND IN 1991 TO ADDRESS THE GROWING GAP BETWEEN FAMILY INCOMES AND HOME PRICES. IT OFFERS PURCHASE ASSISTANCE LOANS FUNDED BY PUBLIC AND PRIVATE INVESTMENTS TO PACKAGE HIGHLY COMPETITIVE AMORTIZING OR DEFERRED SECOND LOANS AND DEFERRED THIRD LOANS FOR LOW- AND MODERATE-INCOME HOMEBUYERS. THIS STRUCTURE ALLOWS HOMESIGHT TO MINIMIZE OR ELIMINATE THE REQUIREMENT FOR FHA OR PRIVATE MORTGAGE INSURANCE FOR ITS CUSTOMERS THEREBY INCREASING THE BUYING POWER OF LOW- AND MODERATE-INCOME FIRST-TIME HOMEBUYERS. HOMESIGHT IS A "CORRESPONDENT" 1ST MORTGAGE LENDER TO THE WASHINGTON STATE HOUSING FINANCE COMMISSION, A LOCAL COMMUNITY BANK, AND A NEIGHBORWORKS AMERICA PARTNER. IN 2024, HOMESIGHT ORIGINATED OVER $9.5 MILLION IN 1ST MORTGAGE LOANS WITH ITS CAPITAL PRIMARILY FOR SUBSEQUENT SALE TO THESE LENDERS. THROUGH THESE CHANNELS HOMESIGHT PROVIDES QUALITY, LOW-INTEREST DOWN-PAYMENT OPTIONS AND MORE FLEXIBLE CASE-BY-CASE UNDERWRITING THAT ALLOWS MANY MORTGAGE-ELIGIBLE CUSTOMERS TO ACCESS CREDIT THAT WOULD NOT BE AVAILABLE TO THEM OTHERWISE. IN 2020, HOMESIGHT WAS APPROVED BY THE US DEPARTMENT OF TREASURY - CDFI FUND TO EXPAND THE TARGET MARKET TO AFRICAN AMERICANS (AA) IN KING, PIERCE, AND SNOHOMISH COUNTIES. SINCE THIS ADDITION, HOMESIGHT HAS FOUGHT AGAINST REDLINING AND GENTRIFICATION OF AA'S IN THE SEATTLE AREA BY INTRODUCING LENDING PROGRAMS SUCH AS THE SAM SMITH HI NEIGHBOR HOMEOWNERSHIP FUND (SSHNHF) AND THE SOCIAL JUSTICE (SJ) DPA PROGRAM. THE SSHNHF HELPS AA'S BETWEEN 80-120% AREA MEDIAN INCOME, PURCHASE HOMES ACROSS WASHINGTON STATE BY OFFERING DOWN PAYMENT ASSISTANCE UP TO $20,000 AT 3% DEFERRED FOR 30 YEARS. HOMESIGHT HAS PARTNERED WITH WINDERMERE, US BANK, AND NAREB TO PIONEER THIS INNOVATIVE PROGRAM. AS HOUSING PRICES CONTINUE TO SKYROCKET AND INTEREST RATES CREEP UP, HOMESIGHT HAS MADE IT A MISSION TO SUPPORT BIPOC COMMUNITIES. HOMESIGHT IS SUPPORTING BIPOC FIRST TIME HOME BUYERS BY OFFERING THE SOCIAL JUSTICE DPA PROGRAM. THE PROGRAM INCLUDES $10,000 DEFERRED DOWN PAYMENT ASSISTANCE AT 0% FOR 30 YEARS. THE $3 MILLION SJ DPA FUND WILL HELP 300 BIPOC FAMILIES PURCHASE HOMES IN WASHINGTON STATE. IN 2021, HOMESIGHT LAUNCHED A COUPLE OF DIFFERENT MORTGAGE LOAN PROGRAMS TO FURTHER SUPPORT BIPOC COMMUNITIES. HOMESIGHT NOW OFFERS A VISTA (ITIN) LOAN PROGRAM AND A SHARIA COMPLIANT LOAN PROGRAM. THE VISTA LOAN IS AIMED AT HELPING THOSE WITHOUT TRADITIONAL SOCIAL SECURITY NUMBERS PURCHASE HOMES. THE VISTA LOAN PROGRAM ONLY REQUIRES A 5% DOWN PAYMENT BY THE BORROWER. THIS IS MUCH FRIENDLIER THAN THE OTHER ITIN PROGRAMS AROUND WHICH REQUIRE 10% TO 30% DOWN. HOMESIGHT WAS ALSO APPROVED BY THE WASHINGTON STATE HOUSING FINANCE COMMISSION TO FUND AND SELL SHARIA COMPLIANT FIRST MORTGAGES. THERE IS A LARGE ISLAMIC POPULATION IN SEATTLE THAT NEEDS SUPPORT IN PURCHASING FIRST HOMES. HOMESIGHT WAS EXCLUSIVELY APPROVED BY THE WSHFC TO OFFER THESE LOANS. HOMESIGHT PARTNERED WITH IJARA CDC TO OFFER THIS INNOVATIVE, INTEREST FREE, AND SHARIA COMPLIANT LOANS. TOGETHER WITH OUR PARTNERS WE HOPE TO MAKE A DIFFERENCE FOR FIRST-TIME HOMEBUYERS IN THIS HOUSING MARKET IN WASHINGTON STATE.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since May 1995.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.