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FROM TRUDY & THOMASINA

Dear Friends and Supporters,

As we reflect on 2025, we are moved by both the tremendous challenges we faced and the extraordinary resilience this community demonstrated in response. Through the unwavering dedication of our staff, the remarkable generosity of our donors, and the steadfast support of our partners, we achieved something extraordinary: keeping almost 300 community members safely, and warmly housed this winter. In a year that tested us like never before, that accomplishment stands as a testament to what we can achieve together.

Beyond these immediate crises, we faced a dramatic shift in the insurance landscape, with our annual costs more than doubling to $135,000 and our deductible skyrocketing 500% to $25,000 per incident. These converging pressures created a financial reality that demanded both immediate action and long-term transformation.

Yet even amid these trials, we maintained our commitment to the nearly 300 residents who call our properties home—working parents struggling with market-rate housing costs, seniors on fixed incomes, adults with developmental disabilities, and individuals rebuilding their lives. Our property management team worked tirelessly to ensure continuity of service while navigating complex insurance claims and emergency repairs. Our tenant services navigator connected residents with vital community resources during uncertain times, and our entire staff demonstrated extraordinary dedication to keeping families housed when it mattered most.

The response from our South Sound community has been nothing short of inspiring. Our

This year brought unprecedented challenges. Multiple housing emergencies—including a fire, a flood, and significant structural damage—devastated our financial reserves and left four units uninhabitable for much of the year.

- Trudy Soucoup, CEO & Thomasina Cooper, Board Chair

successful Heroes for Housing breakfast and the Rise & Rebuild campaign raised nearly $250,000, demonstrating that housing stability remains a deeply held community value. Individual donors, corporate partners, and our local government have stood beside us, understanding that investing in Homes First means investing in community stability. This support has not just kept us afloat—it has enabled us to envision a stronger, more sustainable future.

Looking ahead to 2026, we face both a challenge and an opportunity. We must build a $500,000 reserve fund—not as padding, but as essential infrastructure. These reserves will allow us to cover increased insurance deductibles when emergencies strike, bridge the funding gap to access over $4 million in available public contracts (which operate on reimbursement and currently sit unused), and respond immediately to housing crises without choosing which families to help. This is about transforming from survival mode to sustainable impact.

We are fundamentally reimagining our operations to ensure long-term viability, exploring strategic partnerships, evaluating our portfolio, and implementing new approaches that balance our social mission with financial reality. This crisis has become a catalyst not just for survival, but for building an organization that can serve our community even more effectively for decades to come.

As we move forward, we remain anchored in our core belief: stable housing is the foundation for everything else. Your continued support—whether through donations, advocacy, or partnerships—enables us to provide not just shelter, but hope and dignity. Together, we will build a foundation strong enough to weather any storm and ensure that everyone in Thurston and Mason Counties has a safe place to call home.

Thank you for standing with us through this challenging year. Your partnership makes all the difference.

With deepest gratitude,

Trudy Soucoup Chief Executive Officer

Thomasina Cooper Board Chair

OUR MISSION

Only with your support can we continue to create and maintain safe, healthy, and affordable rental homes for those who need them most.

We believe values begin at home. RESPECT:

Instead of judging people by their past, stand by them and help them build their future. Treat them with respect and value the work it has taken for them to survive.

DIGNITY:

Show each resident that they are valued and worthy of being treated well, regardless of their past history.

EQUITY:

When we approach each resident with a lens to what they need individually to be successful, they can believe that we want the best for them. This leads to increased understanding of expectations and outcomes on all sides.

PERSONAL RESPONSIBILITY:

Life is full of choices. Some are made for us and some we make for ourselves. We work to empower people and support their life sustaining choices. We encourage residents to choose to be the creator of their own destiny, seek solutions, and take positive actions so they can find and retain a home.

PARTNERSHIPS:

Rather than being the answer to all our resident’ needs, we seek to partner with other groups to ‘share the work it takes to support the people we serve’. Community partnerships include the formal and informal community connections, collaborative projects, and relationships that address tenants needs and goals.

COMMUNITY:

Building ongoing long-term relationships with organizations which complement our program and meet the needs of our residents is a powerful community development strategy. It takes a network of services to make our community stronger.

2025 WAS ABOUT BRIDGING GAPS

From the Deputy Director

2025 was hard. It was a year of navigating complexity, loss, and responsibility while striving to keep everything—and everyone—moving forward. From clarifying benefits and updating leases, to managing tenant concerns and coordinating insurance, my focus was on balancing operational needs with care for the people affected; every decision carried weight.

Much of the year involved learning the ins and outs of our insurance policies, ensuring we had the coverage and approvals needed to get work done safely and responsibly while keeping tenants supported. At the same time, we faced a financial crisis that required tough decisions, including the transition of our property management and letting go of five valued team members. These were difficult but necessary steps to stabilize the organization and ensure long-term sustainability.

Despite these challenges, I focused

on translating complexity into clarity. I worked to make policies, systems, and communications understandable, fair, and steady—even under pressure.

I relied on routines and repeatable frameworks to manage the mental load and ensure consistency in decisions that mattered to people’s lives.

Ultimately, 2025 was about bridging gaps: between financial realities and tenant care, policies and people, responsibility and humanity. It was

exhausting, emotional, and sometimes overwhelming—but it was also a year of perseverance, learning, and acting with integrity and care when it mattered most.

Rachael Childs, M.A. Deputy Director

Tri-plex which experienced a fire.

Rebuilding began in January 2026

Home where a tree hit the side and roof. Reoccupied in August

RESIDENTS & HOUSEHOLD NEED:

Resident Demographics

requests

Types of Housing Requested Demographics of Requests

My kids have their own rooms for the first time ever. They’re thriving in school because home is finally stable.

- Ken S. Tenant

Connect with us at: outreach@homesfirst.org

MEMBER OF A CLUB OR CIVIC GROUP?

Connect us with them and we would be happy to speak at one of their meetings to share our mission and community impact.

YOU HAVE THE POWER TO CHANGE LIVES

SHARE THE STORY OF HOMES FIRST Invite your colleagues, friends, family, neighbors, or faith group friends to a short presentation of the Homes First mission. The presentation can be held at your place of work or worship, your home, a coffee shop or restaurant or at the Homes First office. This is NOT a fundraiser and we do NOT ask for money but is our way of introducing more members of the community to our mission.

LEAVE A LEGACY OF HOME: Your Gift That Lives On

Some gifts change lives long after we’re gone. Your planned gift to Homes First ensures that your commitment to housing stability continues blessing families in our community for generations to come.

When you include Homes First in your estate plans, you create a permanent legacy of compassion. Your gift might become the down payment on a home for a veteran, the security deposit that helps a senior age with dignity, or the safety net that keeps a family together during crises. Long after today’s challenges fade, your generosity will still be opening doors and changing lives.

Planned giving is remarkably flexible and often more accessible than many

people realize. Whether through a bequest in your will, a beneficiary designation on a retirement account or life insurance policy, a charitable gift annuity that provides you income during your lifetime, or a donor-advised fund, there are a variety of options to fit your financial goals. Many planned gifts offer significant tax advantages while allowing you to maintain financial security during your lifetime.

You don’t need to be wealthy to leave a meaningful legacy—you simply need to care about ensuring everyone in our community has a safe place to call home. Even modest planned gifts create lasting impact when combined with the gifts of others who share your values.

Our legacy giving program provides confidential guidance to help you explore options that align with

your financial goals and philanthropic vision. There’s no obligation, just the opportunity to discover how your legacy can create housing stability for decades to come.

TENANT STORIES

FROM A SINGLE BICYCLE TO SELF-SUFFICIENCY:

One Family’s Journey with Homes First

Eleven years ago, Ocean and David arrived in Olympia with their three young children and almost nothing to their names. The family spent several months in short-term housing provided by a local church, getting around on a single bicycle. They were caught in the exhausting cycle so many families know — where every ounce of energy goes toward figuring out where you’ll sleep that night.

“When you don’t have that home stability, that’s everything,” Ocean says. “Taking that off of our shoulders really gave us the time, the space, the energy to better ourselves and better our family.”

Homes First helped Ocean and David transition from temporary shelter into permanent affordable housing — and that’s when everything began to change.

With a safe, stable place to call home, the family could finally look beyond survival and toward the future. Ocean dedicated herself to raising and educating her children while earning an Associate’s degree in Paralegal Sciences. David found work through his congregation as a window blinds installer. Year by year, he grew from a part-time employee to a subcontractor, and eventually launched his own installation business, landing a contract with Home Depot.

Their children flourished, too. All three were school-aged when they first walked through the doors of their Homes First home. Today, they are young adults stepping confidently into the world. Mariah, now 23, worked her way up at Anthony’s Hearthfire Grill in Olympia from stocking the pantry to supervising the restaurant’s opening shifts. Keegan, 18, studies creative writing full time while holding

down a job at Jimmy John’s. And Aubrey made the bold decision to join the Marines.

“She’s taking a big leap,” Ocean says proudly. “I think she can do that because she was given a good foundation and stability.”

David agrees. “Having a stable place to live is the only reason we’ve been able to focus on growing as a family and moving forward as a family.”

Now, with their children launched and David’s business thriving, Ocean and David are ready for their next chapter. They’re relocating to Alabama to expand the company, and David has even hired an employee to manage operations back in Washington. After eleven years with Homes First, the family is fulfilling their dream of complete self-sufficiency.

Their story is a testament to what stable housing makes possible — not just a roof overhead, but the freedom to learn, grow, and build a life worth passing

on to the next generation.

Yet even as we celebrate this milestone, Homes First faces urgent challenges. In 2025, natural disasters brought flooding, fire, and falling trees that damaged three of our properties. We need to strengthen our reserves to guarantee the long-term safety and stability of every resident who calls a Homes First property home. Community donations help us cover critical repairs and ongoing maintenance so that more families like Ocean and David’s can write their own success stories.

As a 501(c)(3) nonprofit organization, all donations to Homes First are tax-deductible. Your generosity makes these transformations possible.

As Ocean and David put it simply: “Thank you.”

TENANT STORIES:

OLYMPIA CLEAN & SOBER

Because of your commitment, Homes first is able to provide more than just a roof, we provide a chance for those in need to regain their lives. To illustrate the weight of your impact, consider this, 80% of tenants live at 30% or below Area Median Income. This can be quite daunting and hard for someone to exist on survival mode while struggling to meet basic needs, however Homes first has been able to help residents not just to have a roof over their heads but be able to build a collective community where everyone feels safe and relieved, they have hope to keep moving forward but we couldn’t do it alone, whether a resident is navigating recovery or re-entering the community after the court system, our partnership with Olympia Clean and Sober Housing and Oxford House International ensures that the residents don’t have to take the steps alone or feel lost trying to figure out how to take the steps needed. We are also looking towards the future of our community

through clean energy. Thanks to Olympia Community Solar and Puget Sound Energy, our homes are being fitted with solar power, which improves both the environment and our residents’ mental health. It is safe to say that having a safe and stable place to call home provides the foundation for our residents to thrive. They can develop financial and life skills amongst others; by making those improvements as individuals they fill gaps in the community and regain their lives.

In partnership with Olympia Sober Housing, we have made a tremendous impact working with some of the residents, by providing financial and life skills classes to those in need, such is one of the residents who was formerly living in the woods, he wasn’t just battling the elements but survived being stabbed and beaten. Today thanks to your support, he is now in a safe place surrounded by other residents who are all supportive of each other, his story is one of many where a sense of belonging,

and contribution has “spread like nature”. Residents from all walks of life, from students pursuing their education and in need of support to individuals in recovery or adult with disabilities, are benefiting from your support.

Thanks to you, this program has become a vital asset for Olympia, providing the support our neighbors need to reach their full potential.

Your impact continues creating a cycle that is transforming lives and helping strengthen the community, thank you for your support, our residents can feel safe and protected they can say they are home.

OUR VOLUNTEERS

WHEN COMMUNITY BECOMES FAMILY: Volunteers Who Carried Us Through

In 2025, when Homes First faced its greatest challenges, something extraordinary happened: our community didn’t step back—they stepped forward. While we navigated financial crises, property emergencies, and organizational transformation, volunteers became the hands and hearts that kept our mission alive. Their dedication didn’t just maintain properties; it demonstrated that housing our most vulnerable neighbors is a value this community refuses to compromise on.

shared senior residence and multi-unit apartment complex nestled among mature trees in an historic neighborhood. Months of accumulated leaf litter and overgrown brush, had created both aesthetic and safety concerns that we lacked the resources to address. These volunteers didn’t just bring labor; they brought their own materials, engaged residents in conversation about future improvements, and transformed overwhelming maintenance backlogs into welcoming spaces. At one of our most beautiful properties—the future site of a senior ADU development—they cleared out what would have taken our skeleton staff weeks to accomplish.

Days later, Thurston County Realtors Association volunteers tackled challenges our limited team couldn’t reach. At a partially occupied duplex, these volunteers cleared out a massive blackberry patch, which was creating a genuine health and safety risk for residents. At another home, they supported a family of twelve years by tending to neglected garden beds—filling critical gaps while our organization fought for survival. These weren’t glamorous projects. They were essential acts of dignity, demonstrating to our Homes First residents that they hadn’t been forgotten amid organizational crisis.

The Henderson property, in particular, exemplified the real impact our local volunteers make. This team primed and painted, preparing this men’s sober living home for residents who would arrive months later. In September, United Way Day of Caring volunteers returned for meticulous post-construction cleanup— polishing stair rails, removing paint specks, weeding gardens—ensuring the home wasn’t just functional but truly welcoming. Every detail mattered because every resident deserves to feel valued.

Perhaps the most remarkable contribution came as weather turned cold and outdoor work ended. Facing property management transition while drastically understaffed, we confronted a daunting reality: over 150 resident files—some spanning 30+ years—required scanning and organization before transition could occur. Volunteers from OBEE and Heritage Bank worked in shifts, processing complex, evolving documents that told three decades of stories. They persevered through frustration and tedium because they understood: these weren’t just files. They were people’s housing histories, their documentation, their security.

Throughout disasters, staff reductions, and funding uncertainties that would have crushed many organizations, volunteers increased our capacity tenfold. They showed up for frisbee games during landscaping projects and shared laughter while scanning files—bringing joy to demanding work. They learned our mission firsthand and carried it forward through action.

To every volunteer who cleared brush, painted walls, or scanned documents in 2025: you didn’t just help maintain properties. You declared that our neighbors experiencing housing insecurity deserve community investment even—especially— during organizational crisis. You embodied the truth that stable housing isn’t just an organizational responsibility; it’s a community commitment.

Thank you for showing up for your neighbors when it mattered most.

2025 VOLUNTEER GROUPS

Boy Scout Troop 9048

Day of CaringUnited Way

Genuine Healthcare

Keller Williams Red Day

Thurston County Realtors Association

Starbucks Employees

GROUP EFFORTS

NUMBER OF GROUPS: 8

PEOPLE INVOLVED: 92

HOURS DONATED: 276

BOARD MEMBER

INVOLVEMENT

INDIVIDUALS: 14

HOURS: 332

INDIVIDUAL VOULUNTEERS

INDIVIDUALS: 17

HOURS DONATED: 125

AVG HOUR/PERSON: 7

SWOT ANALYSIS:

Homes First (2025)

SS

• 35 years serving 300 residents

• 95% occupancy, below-market rents

• $4.4M+ in secured funding

• 100% resident retention in crisis

WEAKNESSES:

Despite our strengths, Homes First faces significant financial and operational challenges. With no cash reserves and a reimbursementbased funding structure, we have struggled with cash flow and cannot easily access more than $4 million in available public contracts. Aging properties needing ongoing upkeep, and complex insurance and construction processes have further strained resources, while declining donations and limited revenue diversification add financial pressure. Together, these constraints create ongoing risks to operational sustainability and our organization’s ability to maintain and expand affordable housing.

STRENGTHS:

With a 35-year track record in affordable housing, Homes First serves nearly 300 residents across 60 homes with a 95% occupancy rate while maintaining belowmarket rents. We have secured over $4.4 million in public funding and raised more than $2.5m in community support, completed two major housing projects, and expanded operations with new staff and sustainability initiatives. Despite financial challenges, no families were displaced—reflecting strong management, dedicated staff, and enduring partnerships with local and state housing leaders.

W W• Zero cash reserves

• $4M+ in contracts inaccessible

• Aging, uninhabitable properties

• Declining donations, limited revenue

• 11 new homes and senior accessory dwelling units

• $500K reserve unlocks $4M+ funding

• Green energy initiatives & tenant programs

• Strong market position & support

THREATS:

OPPORTUNITIES:

Homes First is well positioned for growth and long-term sustainability. Plans are underway to add 11 new homes over the next two years, including new senior housing, property renovations, and expanded solar installations. Establishing a $500,000 reserve fund could unlock more than $4 million in public contracts while developer fees and strategic partnerships create new revenue opportunities. With strong alignment to public housing priorities, growing community awareness of the housing crisis, and a proven development track record, Homes First has significant potential to expand our impact and strengthen financial stability.

O O TT

Homes First faces significant external risks that could impact stability and growth. Rising insurance costs, higher deductibles, and the potential for emergency incidents create ongoing financial exposure. At the same time, construction inflation, labor shortages, and increasing operating expenses are putting pressure on development and maintenance budgets. A more competitive and complex funding environment, combined with regulatory demands and broader economic and political uncertainty, adds further challenges as Homes First works to expand housing during a rapidly worsening affordability crisis.

STRATEGIC IMPLICATIONS

• Soaring insurance costs

• Rising construction & labor expenses

• Compliance & operational strain

• Housing crisis & economic uncertainty

The SWOT analysis reveals an organization at a critical inflection point. Strong mission execution, committed funding, and community support create genuine opportunity for transformation, but the complete absence of reserves while facing dramatically increased risk exposure threatens organizational viability. The next 6-12 months will determine whether Homes First transitions from crisis management to sustainable growth or faces operational failure despite strong community need and available resources.

OUR DONORS

Donor generosity sustained us through our most challenging year and fueled our greatest achievements. Whether you gave monthly, contributed to our annual campaign, or responded to emergency appeals, your gifts kept nearly 300 residents housed when everything seemed uncertain. You proved that affordable housing isn’t just an organizational mission—it’s a community value worth defending. Thank you for believing in our neighbors and investing in their stability dignity.

Cathy J.

Christina J.

Geri J.

Lane D.

Matt D.

Mitch D.

Susan B.

Thera B.

Thomas B.

Erin A.

Jackie A.

Laura A.

Leila A.

Renee A.

Alana B.

Alisha B.

Alysha B.

Amanda B.

Amy B.

Bela B.

Bob B.

Bruce B.

Cameron B.

Cheryl B.

Cindy B.

Danielle B.

Dawn B.

Garrett B.

Holly B.

Kathleen B.

Kelimaria B.

Kevin B.

Larry B.

Lois B.

Mark B.

Meryl B.

Michael B.

Sara B.

Stacie B.

Tina La B.

Todd B.

Victoria B.

Alyson C.

Annie C.

Becky C.

Carolyn C.

Chris C.

Chrissy C.

Craig C.

DeAnn C.

Eddy C.

Jean C.

Jim C.

Josh C.

Julie C.

Kay C.

Lela C.

Michael C.

Nancy C.

Rachael C.

Sayuri C.

Sherry C.

Thomasina C.

Wendy C.

Amy D.

Ashley D.

Barb D.

Carlotta D.

Diane D.

Elizabeth D.

Myra D.

Nic D.

Sandy D.

Sara D.

Tessa D.

Tina D.

Toby D.

Connie E.

Deanna E.

Eric E.

Janine E.

Mette E.

Nancy E.

Rod E.

Ann F.

Christine F.

David F.

Gail F.

Julie F.

Karen F.

Phyllis F.

Annie G.

Carol G.

Clark G.

Holly G.

Jamie G.

Jeff G.

Jennifer G.

Jessica G.

Kathryn G. &

Robert G.

Kelly G.

Kevin G.

Nikki G.

Paul G.

Rachel G.

Riley G.

Shannon G.

Steve J G.

Todd G.

Valerie G.

Bob H.

Bobby H.

Brandi H.

Cheryl H. &

Selden H.

Darlene H.

Derek H.

Diana H.

Elizabeth H.

Emily H.

Farra Layne H.

Flip H.

George H.

Hank H.

Harriet H.

Harry H.

Helen H.

Janet-Rose H.

Jessie H.

Jody H.

Jon W. H.

Juliet H.

Kelsey H.

Kevin H.

Kim H.

Matt H.

Michele H.

Olivia H.

Shy-Anne H.

Tonya H.

Maria I.

Jeffrey J.

Kristen J.

Peggy J.

Amy K.

Anne K.

Betty K.

Dana K.

Daniel K.

Jim K.

Jordan K.

Kari K.

Matt K.

Taylor K.

Tiana K.

Catrina &

Chris L.

Christa L.

Clover L.

Heather L.

Jim L.

Karen L.

Marcy L.

Mary L.

Paula L.

Rachel L.

Renee L.

Robert L.

Shirley L.

Thea L.

Vicki L.

William L.

Alan M.

Carolina M.

Chad M.

Char M.

Cherie M.

Daryl M.

Elizabeth M.

Gerald M.

Jade M.

Jean M.

Jill M.

Joelle M.

Judy M.

Kathy M.

Kimberly M.

Margaret M.

Marjorie M.

Michael M.

Michelle M.

Mike M.

Rod T. &

Susan M.

Sarah M.

Serenity M.

Todd M.

Tracy M.

Tye M.

Vonna M.

Brandy N.

Celia & David N.

Eric N.

Iraina N.

Jane N.

Samantha N.

Sandra N.

John O.

Keri O.

Leslie O.

Shana & Jim O.

Tiffney O.

Troy O.

Andrea P.

Brad P.

Brenda P.

Cleve P.

Cynthia P.

Dudley P.

Elisabeth P.

Erica P.

Erin P.

Jessica P.

Kathryn P.

Kimberly P.

Lisa P.

Nancy P.

Nathan P.

Nick P.

Pat P.

Rebeca P.

Shaya P.

Amity R.

Ceuson R.

Charles R.

Cherie R.

Jami R.

Jeannine R.

Jenna R.

Jessica R.

Jill R.

Julie R.

Karen R.

Kathryn &

Charles R.

Kathy R.

Kim R.

Krystchen R.

Mary R.

Michelle R.

Patrick R.

Rachel R.

Ryan R.

Sarah R.

Alexandra S.

Amanda S.

Amy S.

Anna S.

Bonnie S.

Brad S.

Cheryl S.

Cheryl &

Brian S.

Christine S.

Eileen S.

Ellen S.

Ellen S-S.

Hallee S.

Harriet S.

Hunter S.

James &

Pene S.

Janet S.

Jim S.

Joel S.

Justina S.

Kevin S.

Kim S.

Laura S.

Leslie S.

Lisa S.

Melanie S.

Nancy S.

Patricia S.

Paul S.

Peggy S.

Peri S.

Theresa S.

Therese S.

Trudy S.

Vincent S.

Wayne S.

Buckweat T.

Evette T.

Jennifer T.

Laura T.

Michi T.

Peggy T.

Priscilla T.

Rae Anne T.

Scott T.

Karen V.

FOUNDATIONS, CORPORATIONS & ORGANIZATIONS:

1st Security Bank

Artisans Group

Bank of the Pacific

Alison W.

Brett W.

Celeste W.

Cheri W.

Corinn W.

Dan W.

Elizabeth W.

Gordon W.

Judy W.

Lisa W.

Liz W.

Michael & Nancy W.

Mike W.

Mimi W.

Stephen W.

Susan W.

Kim Y.

Rodney Y.

Shelle Y.

Eric Z.

Lynda Z.

Megan Z.

Columbia Bank

Combined Fund Drive (CFD)

Country Financial

DAFgiving360

Doyle Construction

Fidelity Brokerage

Fidelity Charitable

First United Methodist Church

Give Lively Foundation

Grasser Insurance

Impax Asset Management

Johnson, Stone & Pagano, P.S.

Kroger

Morgan Stanley

Movement Mortgage

New Life Baptist Church (NPBC) Women Department

North Thurston Public Schools

Octapas Cafe

Olympia Community Solar

Olympia Federal Savings (OlyFed)

Olympia Sober Housing

Olympic Rental & Landlord Services LLC

Peak Credit Union

Pellegrinos

Port Blakely

IN KIND DONORS:

23 Kitchens

Artisans Group

Chris Campbell

Doyle Construction

Dutch Bros Tumwater

Valerie & Gery Gerst

Hops n Drops

Hung Right Garage Doors

Jimmy John’s

Octapas Cafe

Olympic Crest

Coffee Roasters

Pacific Stage

Pellegrinos

Premiere Salon & Spa

South Sound Solar

Jason Taellious

Vanguard Charitable

Puget Sound Energy (PSE)

South Sound Solar

Stormans INC

Sunset Air

The Community Foundation of South Puget Sound

Thurston County Title Company

TIAA Financial Solutions

Uptown Grill

Vanguard Charitable

WaFd Bank

TO OUR GRANTORS :

The confidence that public funders and private foundations have placed in our mission has made possible every home we preserved and every project we advanced. Your committed funding represents more than a financial investment — it is a statement that affordable housing deserves public support, and that Homes First remains a trusted steward of community resources. Thank you for investing in our future.

TO OUR COMMUNITY PARTNERS:

Thurston County Housing Authority, local service providers, Welcome Home, Hometown Property Management, and other countless organizations working alongside us—your collaboration multiplied our impact exponentially. You connected our residents to vital resources, shared expertise during our transition, and reminded us that no organization serves alone. The safety net we collectively provide is stronger because of your partnership, creativity, and shared commitment to ensuring everyone has a place to call home. Together, we’re transforming our community.

PROUD PARTNERS WITH:

By becoming a partner with Homes First, your business has the chance to be a catalyst for transformative change within our community.

2025 HEROES FOR HOUSING SPONSORS:

PRESENTING SPONSORS:

PARTNER SPONSORS:

1st Security Bank

Bank of the Pacific

Heritage Bank

Lucky Eagle Casino & Hotel

Olympic Rental & Landlord Services LLC

Port Blakely

Puget Sound Energy

Sunset Air

The CoHo Team of Windermere Agents WSECU

COMMUNITY SPONSORS:

Artisans Group

Columbia Bank

Johnson, Stone & Pagano, P.S.

Kiley Juergens

Wealth Management

Movement Mortgage South Sound Solar

South Puget Sound Community College

Windermere Real Estate/Olympia

TO OUR SPONSORS

Corporate partnership provided more than financial support—they offered expertise, volunteer hours, building materials, and unwavering commitment to housing stability in our region. During a year when we desperately needed champions, our sponsors stood beside us publicly and invested in our future. These partnerships demonstrate that businesses thrive when communities thrive, and that corporate responsibility means showing up during crises, not just celebration. We’re honored to build a stronger South Sound together.

2025 GRANTS & OTHER FUNDNG RECEIVED:

AirBnb Foundation

City of Lacey

Housing and Urban Development - Rep. Marilyn Strickland

Housing Trust Fund

Forest Foundation

Nisqually Indian Tribe

Puget Sound Energy

Rotary Club of Lacey

Starbucks Foundation

The Community Foundation of Thurston County

Thurston County

HOW YOU CAN HELP

Want to support our work?

donate@homesfirst.org

Become a monthly donor!

Check/Cash

Online giving Gifts in wills

Workplace giving

Combined Fund Drive Memorials

Stock Property

VOLUNTEER OPPORTUNITIES

Heroes for Housing Breakfast

Real Community Heroes

Awards & Celebration

Landscape support

Advisory committees

Administrative support

Painting support

All Trades needed to help turn houses into homes.

DONATE SUPPLIES/ TOOLS

• 12” chop saw

• 10” table saw

• A-frame ladders, (a 4ft, 6ft, 8ft)

I wake up grateful every morning. Stable housing gave me the peace of mind to finally pursue my dreams.

- Maria P Tenant

I thought I’d never get another chance after everything I’d been through. This home gave me hope to rebuild my life.

- Joe M Tenant

• Storage sheds

• 50’ x 1/2” cable

• Electric drain/sewer snake clean out

• Landscaping equipment

2025 FINANCIALS

FROM VISION TO REALITY:

How Your Support Built Homes in 2025

Despite unprecedented challenges, 2025 brought remarkable construction achievements that transformed community investments into actual homes for families and individuals in need.

Two major projects begun in 2022 reached completion, demonstrating that perseverance yields results. Our Oxford house in Tumwater finished construction in December, welcoming men in recovery beginning February 1st. Earlier in the year, our two Accessory Dwelling Units in Lacey were completed and leased by April to residents with disabilities—

precisely the population these specialized units were designed to serve. Both projects represent how patient, deliberate development creates housing that truly meets community needs.

Sustainability became reality through partnership with PSE and South Sound Solar, which provided grant funding for solar installations on three properties in Lacey, Olympia, and our new Tumwater Oxford house. This green energy initiative reduces operating costs while demonstrating environmental stewardship, with five additional installations planned for 2026.

New initiatives launched despite financial pressures. The four-ADU senior housing project in Olympia entered early construction

stages under Jasmine McKenzie’s management (see more on page 21) , while rehabilitation of an existing men’s Oxford house in Tumwater began—a comprehensive renovation including flooring, cabinets, countertops, and structural improvements that will extend the building’s useful life for decades.

Strategic grants amplified impact. City of Lacey funding enabled critical improvements across three properties: essential tree removal, rotted siding replacement on a four-plex, and complete roof replacement— unglamorous but vital work that protects both residents and long-term property value.

Each project represents community investment working: grants secured, partnerships leveraged, and donor support transformed into safe, sustainable housing. As Homes First builds financial stability in 2026, this construction momentum will only accelerate.

SUPPORT HOUSING AS A SPONSOR:

As we pursue positive change within our communities, Homes First stands committed to addressing the critical issue of affordable housing. We are reaching out to local businesses to join us in this endeavor and become sponsors of our mission, recognizing the shared responsibility we all have in building a stronger, more inclusive society.

TAILORED SPONSORSHIP OPPORTUNITIES:

We understand that each business has unique goals and objectives. That's why we offer a range of sponsorship levels and associated benefits that can be customized to align with your company's values and priorities. We can create a customized sponsorship package to match your corporate social responsibility goals, whether you want to support a specific project or explore new opportunities.

BUILDING PARTNERSHIPS:

At the heart of our efforts lies a commitment to providing sustainable housing solutions for low-income families in Thurston and Mason counties. We have witnessed the transformative impact that businesses can have on community development, and we invite you to consider becoming a valued sponsor of Homes First.

RECOGNIZING YOUR IMPACT:

As a sponsor, your company's contribution will be prominently recognized through various channels, including acknowledgment in our promotional materials, social media platforms, and events. This visibility not only highlights your commitment to social welfare but also reinforces your company's positive brand image within the community.

THE POWER OF CORPORATE SOCIAL RESPONSIBILITY:

Our commitment to excellence includes creating stable and affordable housing options for people facing financial challenges. By becoming a sponsor, you contribute to our projects and position your business as a leader in corporate social responsibility, positively impacting the lives of individuals and families in need.

SCHEDULE A MEETING:

We invite you to explore this unique opportunity to make a meaningful difference in the lives of those vulnerable members of our community. We would be delighted to arrange a meeting at your convenience to discuss how your sponsorship can align with our initiatives and further enhance the positive impact on our community.

HOW YOUR SUPPORT POWERS PROGRESS BUILDING THE FUTURE:

In late October 2025, Jasmine McKenzie joined Homes First as the Projects and Compliance Manager, stepping into a newly created position made possible in part through grant funding from the City of Lacey. Her role represents a critical investment in Homes First’s capacity to transform committed funding into actual homes for families and individuals in need. Though her tenure at year’s end spanned just over two months, those weeks laid essential groundwork for bringing $4.4 million in donor, grant, and public investments to life.

Jasmine’s initial focus centered on understanding the intricate portfolio she inherited: six concurrent projects funded through a complex tapestry of support from the State of Washington Housing Trust Fund, Thurston County, the Department of Commerce, HUD, and generous private donors. Each funding source brings unique compliance requirements and timelines, creating a web of accountability that ensures every dollar serves its intended purpose. Her role exists precisely because supporters understand that transforming funding commitments into actual housing requires dedicated expertise and careful stewardship.

By year’s end, Jasmine had positioned each project for meaningful 2026 progress. The Henderson Project—a gifted property being transformed into sober living housing through combined public and private support—reached 99% completion, awaiting only fence installation. This achievement demonstrated what becomes possible when community generosity meets organizational dedication. Similarly, the Cleveland Avenue renovation advanced significantly, with Jasmine successfully navigating the RFP process to position the project for a February 2026 construction contract award.

The crown jewel remains the O’Farrell ADUs project, a nearly $2 million undertaking funded by the Housing Trust Fund and Thurston County specifically for affordable senior housing. Jasmine collaborated with architects and surveyors to develop comprehensive RFP specifications and drafted the critical Evergreen Project Plan—a complex compliance requirement that protects both funder investments and future residents. These four accessory dwelling units represent how public funding, when expertly managed, multiplies community impact.

The Preservation of Current Portfolio project, supported by committed state and county dollars, focuses on bringing existing properties to current safety standards—essential work that protects both residents and the public’s invest-

ment. Meanwhile, the Purchase of Five Houses program, backed by over $2.8 million in combined Housing Trust Fund and county support, progressed toward finalizing funding acquisition and necessary exemptions. The Jefferson Fire Rehab project reached 15% completion, with restoration of the fire-damaged three-unit home on schedule for summer 2026.

Jasmine identified key challenges shaping her strategic approach: securing volunteer labor that extends donor dollars further, minimizing resident disruption during occupied-site construction, navigating multi-agency compliance that ensures accountability to every funder, and coordinating contractor schedules across simultaneous projects.

As 2026 begins, Jasmine’s focus shifts toward robust budget management and enhanced tracking systems—the unglamorous but essential work that transforms community generosity into measurable impact. Her position itself embodies Homes First’s commitment to responsible stewardship: every grant dollar, every public fund, every private donation deserves the professional management that ensures it creates lasting change for our community’s most vulnerable population.

A VISION OF STRENGTH: HOMES FIRST IN 2026 AND BEYOND

Imagine Homes First with a solid financial foundation beneath us—$500,000 in reserves that transforms how we serve our community. This isn’t a distant dream; it’s the future we’re building together right now.

With reserves in place, we unlock extraordinary opportunities already waiting for us. We have over $4.4 million in committed funding from the State of Washington Housing Trust Fund and Thurston County—resources we can finally access because we’ll have the capacity to bridge reimbursement gaps and manage cash flow with confidence.

Picture this: By late spring, we break ground on four detached accessory dwelling units at our Olympia property, creating dignified housing specifically designed for low-income seniors. We’re currently navigating the contracting process with the Department of

Commerce and HUD, and these units represent just the beginning.

Over the next two years, we’ll add 11 more homes to our portfolio—five senior ADUs, two shared homes for adults with developmental disabilities, three for families escaping domestic violence, plus an additional general low-income home through support from Thurston County and the State of Washington, and HUD. Each new home means another family lifted out of housing insecurity, another senior who can age in place with dignity, and another individual who finds stability and hope.

OUR COMMUNITY PARTNERS INCLUDE:

Here’s what financial stability means in practice: When an emergency strikes, we respond immediately without panic. When insurance deductibles hit $25,000, we handle it. When opportunities arise to expand our impact, we say “yes.” The developer fees from these proj-

ects—$480,324 over two years— will actually strengthen our operations, rather than disappearing into crisis management.

Most importantly, we can shift from reactive survival to proactive service. Our staff focuses on supporting residents and building community partnerships rather than managing financial emergencies. We become the stable, reliable partner our community deserves— capable of both weathering storms and seizing opportunities to create lasting change.

This is the Homes First that reserves make possible: strong, sustainable, and ready to transform lives for generations to come.