HABITAT FOR HUMANITY OF BOULDER VALLEY
201 E SIMPSON STREET, LAFAYETTE, CO 80026 www.flatironshabitat.org

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Organizations Filed Purposes: HABITAT FOR HUMANITY OF BOULDER VALLEY WORKS TO CREATE DECENT, AFFORDABLE HOUSING IN PARTNERSHIP WITH THOSE IN NEED AND TO MAKE SHELTER A MATTER OF CONSCIENCE WITH PEOPLE EVERYWHERE.

CREATE DECENT AFFORDABLE HOUSING FOR THOSE IN NEED AND MAKE SHELTER A MATTER OF CONSCIENCE.

FLATIRONS HABITAT FOR HUMANITY (FHFH) CONSTRUCTS HOMES FOR LOW INCOME FAMILIES. EACH HOME IS SOLD TO A LOW INCOME FAMILY THAT PARTNERED WITH FHFH THROUGH INVESTMENT OF "SWEAT EQUITY" IN THEIR HOME. HOME OWNERSHIP FOR ALL FLATIRONS HABITAT FAMILIES IS FACILITATED THROUGH THE USE OF ZERO INTEREST MORTGAGES. THE COST OF HABITAT HOMES IS REDUCED THROUGH THE USE OF VOLUNTEER LABOR AND HOMES ARE SOLD TO THE HOMEOWNERS AT NO PROFIT TO HABITAT. FHFH SUBSIDIZES THE CONSTRUCTION AND FAMILY SERVICES OPERATING COSTS NECESSARY TO BUILD ITS HOMES.

FLATIRONS HABITAT FOR HUMANITY (FHFH) PROVIDES ZERO INTEREST MORTGAGES TO ITS HOMEOWNERS WHEN NEW MORTGAGES ARE SET UP. HISTORICALLY, THESE MORTGAGES WERE DISCOUNTED AT AN INTEREST RATE SET BY THE AFFILIATE BASED ON HABITAT INTERNATIONAL, OTHER LOCAL AFFILIATES, THE 30-YEAR INTEREST RATE AND THE PERCEIVED RISK OF THE AFFILIATE'S MORTGAGE HOLDERS. AS HOMEOWNERS PAY DOWN THEIR MORTGAGES, FHFH RECOGNIZES INCOME FROM MORTGAGE DISCOUNT AMORTIZATION. IN RECENT YEAR, FHFH HAS PARTNERED WITH A LOCAL BANK TO PROVIDE AFFORDABLE MORTGAGES WHEREIN THE BANK IS THE LENDER. FHFH RECEIVES PROCEEDS AT THE TIME OF THE HOME SALE.

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Data for this page was sourced from XML published by IRS (public 990 form dataset) from: https://s3.amazonaws.com/irs-form-990/202021359349304307_public.xml