Habitat For Humanity International Inc

HABITAT FOR HUMANITY PENINSULA & GREATER WILLIAMSBURG, INC. WAS FOUNDED IN OCTOBER 1985 AS A NONPROFIT, ECUMENICAL HOUSING MINISTRY AFFILIATED WITH HABITAT FOR HUMANITY INTERNATIONAL, INC., TO SEEK TO ELIMINATE POVERTY AND HOMELESSNESS FROM THE WORLD,AND TO MAKE DECENT SHELTER A MATTER OF CONSCIENCE AND ACTION. THROUGH VOLUNTEER LABOR AND DONATIONS OF MONEY AND MATERIALS, HABITAT BUILDS SIMPLE, DECENT HOUSES WITH THE HELP OF LOW-INCOME HOMEOWNER FAMILIES. HABITAT FOR HUMANITY PENINSULA & GREATER WILLIAMSBURG FOCUSES ITS EFFORTS IN NEWPORT NEWS, HAMPTON, WILLIAMSBURG, JAMES CITY COUNTY, YORK COUNTY, NEW KENT AND CHARLES CITY AREAS OF VIRGINIA. THE HOUSES BUILT BY HABITAT AND ITS VOLUNTEERS ARE SOLD TO PARTNER FAMILIES AT NO PROFIT, FINANCED WITH AFFORDABLE,NO INTEREST LOANS. THE HOMEOWNERS' MONTHLY MORTGAGE PAYMENTS GO TO FUND MORE HOUSES AND THE OPERATIONS OF HABITAT. IN ADDITION TO THE MONTHLY MORTGAGE PAYMENT, EACH HOMEOWNER FAMILY INVESTS HUNDREDS OF HOURS OF THEIR OWN LABOR INTO TH

CONSTRUCTION & SALE OF HOMES. HABITAT COMPLETED AND SOLD 9 HOUSES DURING FYE JUNE 2022. AT JUNE 30, 2022, AN ADDITIONAL 30 HOUSES WERE UNDER CONSTRUCTION. COSTS EXPENDED TO DATE ON THE HOUSES IN PROGRESS TOTALING 760,798 ARE CAPITALIZED ON THE BALANCE SHEET AND NOT INCLUDED IN THE EXPENSE AMOUNT REPORTED ON THE 990. PROGRAM EXPENSE INCLUDES THE DIRECT COST OF CONSTRUCTION, CONSTRUCTION OVERHEAD, AND THE COSTS OF SELECTING POTENTIAL HOMEOWNERS AND EDUCATING THEM IN THE RESPONSIBILITIES OF HOMEOWNERSHIP. THIS INCLUDES HOME REPAIRS AND MAINTENANCE AND FINANCIAL AND CREDIT EDUCATION.

HOMES ARE SOLD TO QUALIFIED LOW-INCOME FAMILIES WITH INTEREST AT -0-%, GENERALLY WITH 20 TO 30 YEAR MORTGAGES. THE MORTGAGES ARE DISCOUNTED TO REFLECT THE FMV OF THE 0% INTEREST RATE. THIS DISCOUNT IS THE COST TO HABITAT OF PROVIDING THE MORTGAGES.

VOLUNTARY SUPPORT OF HABITAT FOR HUMANITY INTERNATIONAL HOUSE BUILDING PROGRAMS OUTSIDE THE UNITED STATES, AND DONATIONS TO OTHER CHARITABLE ORGANIZATIONS.

HABITAT FOR HUMANITY RESTORES ARE NONPROFIT HOME IMPROVEMENT STORES AND DONATION CENTERS THAT SELL NEW AND GENTLY-USED FURNITURE, APPLIANCES, HOME ACCESSORIES, BUILDING MATERIALS AND MORE TO THE PUBLIC AT A FRACTION OF RETAIL PRICE. THE GOAL OF THE RESTORE IS TO GENERATE ENOUGH PROFITS TO BUILD MORE HABITAT HOMES FOR DESERVING, LOW-INCOME FAMILIES, AS WELL AS TO PROMOTE RECYCLING. 100% OF THE NET PROCEEDS FROM THE RESTORES ARE USED TO BUILD AND SELL AFFORDABLE HOUSING.