Programs

  • Program 1 [2020]

    CONSTRUCTION COSTS: HABITAT MISSOULA CONSTRUCTED ONE HOME DURING 2020, OUR 57TH. CONSTRUCTION COSTS INCLUDE PURCHASED AND DONATED MATERIALS, PURCHASED AND DONATED PROFESSIONAL SERVICES, AND THE COST OF A SITE SUPERVISOR. CONSTRUCTION COSTS DO NOT INCLUDED DONATED LABOR FOR MORE THAN 400 VOLUNTEERS WORKING ON SITE DURING THE CONSTRUCTION SEASON. THE OFFSETTING REVENUE IS FROM THE SALE OF THE HOME TO A LOW-INCOME FAMILY. SECOND MORTGAGES, WHICH REPRESENT THE DIFFERENCE BETWEEN THE COSTS OF HOMES AND THEIR FAIR MARKET VALUES AT CLOSING, ARE NOT INCLUDED IN THE HOUSE SALE REVENUE. AS THE SECOND MORTGAGES ARE CONTINGENT RECEIVABLES, FAS 5, #83 REQUIRES THAT THE SECOND MORTGAGES ARE RECORDED ONLY IF AND WHEN THEY BECOME COLLECTIBLE. IF THE PARTNER FAMILIY HOLDS ONTO THE HOME LONG ENOUGH, THE SILENT MORTGAGE WILL BE FORGIVEN.
    Geographies
    Not indicated
    Dates
    Jan 1, 2020 – Dec 31, 2020
    Source
    990
    No causes provided
    No populations provided
    –
    $387.3K

  • Program 2 [2020]

    MORTGAGE DISCOUNT EXPENSE: OUR LOW-INCOME PARTNER FAMILIES ARE ABLE TO AFFORD OUR HOMES PRIMARILY BECAUSE WE CHARGE NO INTEREST ON OUR MORTGAGES. AS WE ARE LOANING MONEY BELOW THE MARKET RATE, THERE IS AN ECONOMIC COST TO OUR ORGANIZATION. ACCORDING TO ACCOUNTING PRINCIPLES BOARD 21, AN ALLOWANCE IS CREATED BY DISCOUNTING THE MORTGAGES BASED UPON THE CURRENT MARKET INTEREST RATE OF SIMILAR MORTGAGES AT THE TIME OF CLOSING, AS DETERMINED BY HABITAT INTERNATIONAL. THE MORTGAGE RECEIVABLE DISCOUNTS ARE AMORTIZED OVER THE LIFE OF THE MORTGAGES. THE $87,588 EXPENSE REPRESENTS THE DISCOUNTS CREATED OVER THE LIFE OF THE MORTGAGES. THE REVENUE OF $189,538 IS THE AMOUNT OF DISCOUNT AMORTIZATION ON ALL OF OUR MORTGAGES FOR 2020, INCLUDING AMORTIZATION RECOGNIZED EARLY DUE TO EARLY REPAYMENT OF MORTGAGES SUBSEQUENT TO HOMEOWNERS SELLING THEIR HOMES.
    Geographies
    Not indicated
    Dates
    Jan 1, 2020 – Dec 31, 2020
    Source
    990
    No causes provided
    No populations provided
    –
    $196.1K

  • Program 3 [2020]

    HABITAT RESTORE OPERATIONS FOR 2020 RESULTED $126,147 IN SALES AND $147,059 IN EXPENSES FOR A NET LOSS OF $20,912.
    Geographies
    Not indicated
    Dates
    Jan 1, 2020 – Dec 31, 2020
    Source
    990
    No causes provided
    No populations provided
    –
    $147.1K