Habitat for Humanity of Findlay Hancock County

“The Board of Directors has delegated to the Executive Committee the power to execute the authority of the Board as such times the Board is not in session. The Executive Committee meets monthly, and the full Board meets every other month.”

“Form 990 is prepared by a contract individual who also performs the accounting functions and financial reports for the organization. The information in Form 990 is based on spreadsheets from data downloaded from current year transactions from QuickBooks. Form 990 is reviewed and approved by the Finance Committee and Executive Committee. The full Board is informed of the final document and may request to review it.”

“Potential conflicts of interest are brought to the attention of the Board President by any board or staff member who may suspect a conflict of interest within the organization. In April of each year board and key staff are updated on what constitutes a conflict of interest and sign a statement indicating thy have read and understand the policy. In addition, the policy is reviewed with new board members at an orientation meeting they each must attend.”

“The Executive Committee annually reviews and sets the compensation for the Exec Director. Compensation for key staff (program leads) is set annually by the Exec Director.”

“The governing documents conflict of interest policy, monthly financial statements and Form 990 are available to the general public upon request.”

“The number of volunteers reported is an estimate with the intent to only include each individual 1 time. Total number of volunteers in 2024 were 812.”

“Part I for lines 9,12,17,18 have been restated to be comparable to current year due to change in reporting ReStore sales June 1, 2024.”

“Code 811000 Home Repair Program - Expenses = 215,267 and revenue = 9,124 The Home Repair Program is an outreach initiative that seeks to provide a wide range of opportunities for low to moderate income homeowners who are struggling to maintain their homes because of age, disability, family circumstances, or lack of sufficient income. Projects consist of interior and exterior repairs intended to alleviate critical health, life and safety issues or code violations. This program allows families to stay in their home and avoid the uncertainty, trauma, expense of moving or the potential to lose their home due to disrepair. Homeowners will pay based on their income and that is the revenue that is reported in 2024. Code 522922 Mortgage Discounting & Amortization - Expenses= $353,435 Revenues $99,421 Mortgage Discounting Expense - Due to Habitat mortgages associated with the Home Ownership Program being non-interest bearing the mortgages per accounting regulations are required to be discounted for financial Home Ownership Program being non-interest bearing the mortgages per accounting regulations are required to be discounted for financial over the remaining life of the mortgages and this calculation is referred to the mortgage amortization and is accounted for as a income item per accounting regulations. Code ???? Vendor Rebates - Expenses= $0.00 Revenues= $13,070 Vendor rebates & Endowment gain will be applied against future program expenses.”

“The Organization has certain expenses that would create a burden to allocate to each functional area on a monthly basis. Occupancy costs, information technology, office related expenses, and other costs are grouped together and those are allocated in compliance with the Generally Accepted Accounting Principles (GAAP) across the Programs including Management and General and Fundraising categories. In addition, some staff members have responsibilities that cross functional areas. To allocate the payroll related expenses of these individuals and estimate is make of the time spent per year in each functional area and costs are allocated on the basis.”

“Part IX line 24e Includes the following expenses: Property Maintenance (Vacant Lots) 10,490 Warehouse Supplies {Restore) 11,007 Customer/Donor Expenses 454 Staff Expenses - Uniforms, Training etc. 14,300 Volunteer Expenses 24,464 Board Expenses 88 ReStore Online Sales Expenses 19592 Fundraising Event Expenses 18747 Equipment Operating Cost 42,998 Special Events 387 Total 142,467.”

“Rounding”

“This is for Lines 2a, b, and c: Financial statements and other supporting schedules are provided to the Exec Committee on a monthly basis and to the full board every other month. A review of the financial statements is conducted by an independent accounting firm at the end of the fiscal year. The 2023 review has been completed. Oversight of the selection process for the annual review and compilation of the financial statements is with the Exec Committee.”

“In 2023 we chose to use Special Rule #2 - only reporting total contributions greater than 2% of Form 990, Part VIII, Line 1h. In previous years we used General Rule #1”