Habitat For Humanity Of Greater Chattanooga
- Assets
- $6.4m
- Revenue
- $4.5m
- Investments
- $0.0
- Employees
- 29
- Location
- Chattanooga, TN
- Founding
- 01/1987
- Data as of
- 06/2024
- EIN
- 62-1260347
Organization Overview
Habitat For Humanity Of Greater Chattanooga is located in Chattanooga, TN. The organization was established in 1987. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 06/2024, Habitat For Humanity Of Greater Chattanooga employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Habitat For Humanity Of Greater Chattanooga is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2024, Habitat For Humanity Of Greater Chattanooga generated $4.5m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $3.2m during the year ending 06/2024. While expenses have increased by 1.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
HABITAT FOR HUMANITY OF GREATER CHATTANOOGA (HFH-GC) BRINGS TOGETHER BUSINESSES, CHURCHES, AND OTHER COMMUNITY ORGANIZATIONS IN PARTNERSHIP WITH LOW INCOME FAMILIES TO SPARK AUTHENTIC TRANSFORMATION IN OUR CITY THROUGH THE CONSTRUCTION OF SIMPLE, DECENT, AFFORDABLE AND SAFE HOMES.
Describe the Organization's Program Activity:
THE LARGEST PORTION OF HFH-GC'S PROGRAM IS THE PROCESS OF HOME BUILDING. THIS INCLUDES LAND ACQUISITION AND DEVELOPMENT, HOME DESIGN AND CONSTRUCTION, VOLUNTEER MANAGEMENT, AND RELATED EFFORTS THAT ARE INVOLVED IN THE CREATION OF AFFORDABLE HOMES THAT ARE SOLD AT COMPLETION TO QUALIFIED FAMILIES THROUGH ZERO PERCENT INTEREST LOAN SUPPORT AND AT NO PROFIT.
ZERO INTEREST LOANS ARE EXTENDED TO PARTNER FAMILIES AT A DISCOUNT FAR BELOW MARKET RATE MORTGAGE COSTS, ALLOWING PARTNER FAMILIES TO STRETCH PRECIOUS RESOURCES. MORTGAGE DISCOUNTS ARE EXPENSED AND AMORTIZED ON THOSE MORTGAGE LOANS THAT ARE HELD IN-HOUSE, RATHER THAN BEING SOLD TO ASSET RECOVERY PROGRAMS LIKE TENNESSEE HOUSING DEVELOPMENT AGENCIES NEW START PROGRAM.
THE SECOND LARGEST PORTION OF HFH-GC'S PROGRAM IS THE RESTORE OPERATION. RESTORE HELPS RECYCLE NEW AND USED CABINETS, APPLIANCES, LIGHTING, HARDWARE AND OTHER ITEMS DONATED BY AREA BUSINESSES AND INDIVIDUALS INTO THE COMMUNITY, WHILE GENERATING FUNDS TO SUPPORT HABITAT'S WORK IN CHATTANOOGA.
THE THIRD LARGEST PORTION OF HFH-GC'S PROGRAM COVERS THE PROCESS OF RECRUITING AND IDENTIFYING POTENTIAL HABITAT PARTNER FAMILIES, AND WORKING WITH THEM THROUGH THE HABITAT APPLICATION PROCESS, A COMPREHENSIVE HOME OWNERSHIP EDUCATION PROGRAM WHICH INCLUDES COURSES ON HOME MAINTENANCE AND ON FINANCIAL MANAGEMENT, AND FOLLOW UP SUPPORT ONCE THEY ARE LIVING IN THEIR NEW HOME. THIS SUPPORT SPANS THE 30+ YEAR LIFE OF THEIR HABITAT ZERO-INTEREST MORTGAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Patrick Daugherty Chair | OfficerTrustee | 2 | $0 |
Stephen Adams Governance Chair | OfficerTrustee | 2 | $0 |
Ternae Jordan Jr Director | Trustee | 2 | $0 |
Tony Sanders Treasurer | OfficerTrustee | 2 | $0 |
Tyson Asay Director | Trustee | 2 | $0 |
Gina Dhanani Secretary & Development Chair | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ht Tennessee Rent | 6/29/23 | $218,752 |
Chavez Drywall Construction | 6/29/23 | $202,683 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $132,096 |
| Related organizations | $0 |
| Government grants | $805,396 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,188,407 |
| Noncash contributions included in lines 1a–1f | $919,757 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,125,899 |
| Total Program Service Revenue | $1,209,583 |
| Investment income | $128,310 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$266,907 |
| Net Income from Fundraising Events | $284,014 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $496 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,481,395 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $265,997 |
| Compensation of current officers, directors, key employees. | $78,150 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $763,955 |
| Pension plan accruals and contributions | $23,980 |
| Other employee benefits | $40,224 |
| Payroll taxes | $74,825 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,468 |
| Fees for services: Accounting | $19,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $61,407 |
| Advertising and promotion | $22,270 |
| Office expenses | $30,570 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $321,810 |
| Travel | $8,586 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $13,761 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,843 |
| Insurance | $65,389 |
| All other expenses | $0 |
| Total functional expenses | $3,221,128 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,855,002 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $326,772 |
| Accounts receivable, net | $153,234 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $477,371 |
| Inventories for sale or use | $130 |
| Prepaid expenses and deferred charges | $13,124 |
| Net Land, buildings, and equipment | $886,056 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $649,606 |
| Total assets | $6,361,295 |
| Accounts payable and accrued expenses | $140,236 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $337,676 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $477,912 |
| Net assets without donor restrictions | $4,848,306 |
| Net assets with donor restrictions | $1,035,077 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,361,295 |