Organizations Filed Purposes:
HABITAT FOR HUMANITY OF MISSOULA IS A NONPROFIT, ECUMENICAL, CHRISTIAN HOUSING MINISTRY DEDICATED TO THE ELIMINATION OF POVERTY HOUSING IN OUR COMMUNITY AND THROUGHOUT THE WORLD.
TO CREATE AFFORDABLE HOUSING FOR LOW-INCOME FAMILIES. CONSTRUCTED ONE SINGLE FAMILY HOME USING MORE THAN 400 VOLUNTEERS WORKING OVER 13,000 HOURS.
CONSTRUCTION COSTS: HABITAT MISSOULA CONSTRUCTED TWO HOMES DURING 2019, OUR 55TH AND 56TH. 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.
HABITAT RESTORE OPERATIONS FOR 2019 RESULTED $119,127 IN SALES AND $141,379 IN EXPENSES FOR A NET LOSS OF $22,252.
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 2019, INCLUDING AMORTIZATION RECOGNIZED EARLY DUE TO EARLY REPAYMENT OF MORTGAGES SUBSEQUENT TO HOMEOWNERS SELLING THEIR HOMES.
Executives Listed on Filing
Total Salary includes financial earnings, benefits, and all related organization earnings listed on tax filing
| Name | Title | Hours Per Week | Total Salary |
|---|
| Heather Harp | EXECUTIVE DIRECTOR | 40 | $37,352 |
| Matt Schmidt | Director | 0 | $0 |
| Tom Facey | Director | 0 | $0 |
| Tom Anderson | Director | 0 | $0 |
| Cory Cremer | Director | 0 | $0 |
| Cathy Semmelroth | Director | 0 | $0 |
| Barbara Wickel | Vice President | 3 | $0 |
| Justin Meidinger | Treasurer | 3 | $0 |
| Kate Greer | Director | 0 | $0 |
| Gerhard Knudsen | Director | 1 | $0 |
| Cathy Semmelroth | Director | 4 | $0 |
| Lisa Mecklenberg Jackson | Director | 2 | $0 |
| Kevin Bailey | Director | 3 | $0 |
| Kelin Johnson | President | 3 | $0 |
| Laura Scoville | Secretary | 2 | $0 |
Data for this page was sourced from XML published by IRS (
public 990 form dataset) from:
https://s3.amazonaws.com/irs-form-990/202022809349301032_public.xml