Financial Information
We have anticipated some of the most frequently asked questions below. If you don't find the information you would like, please ask us. We encourage any and all questions about our finances. Contact us through bennhabitat@yahoo.com.
Some financial facts about our affiliate
How are donations used?
Will all contributions be used to build homes in Vermont?
What is the tithe program?
Where are our financial records kept?
Some quick financial facts about our affiliate
- We are completely responsible for raising all financial gifts, and contributions of services and materials. We receive no financial support from Habitat International.
- It costs us close to $85,000 to build a home. The cost of land is an additional cost and it varies considerably for each home. Some of the land we have built on has been owned by the family, land has been donated twice, and we have bought land.
- We are an all-volunteer affiliate. We have no paid staff. We do pay for skilled labor and site supervision. These expenses are added into the mortgage.
- When done, we covey an interest free mortgage for 15 to 25 years. These mortgage payments are in turn used to build more homes.
- Over 90% of all funds raised are used to build homes or purchase land. We have minimal public relations, storage, and mailing expenses.
- As a part of our commitment to think globally and act locally, we tithe 10% of unrestricted donations to Habitat International to help build homes in another country.
- Anyone wishing to see a copy of our 990 IRS form should make a request to bennhabitat@yahoo.com.
If I give to Habitat for Humanity, will my contribution be used to build homes in Vermont?
The best way to make sure your gift is used in Vermont is to make a contribution directly to our affiliate by mailing a check to Bennington Area Habitat for Humanity, Post Office Box 456, Bennington, Vermont 05201. Almost 95% of each dollar donated directly to our affiliate is applied to building homes. We have no paid employees and have minimal administrative expenses (mailings and public relations). We contribute 10% of all unrestricted donations to Habitat International as part of our commitment to the "think globally - act locally" tithe program. Habitat International's goal is to build a home in another country for every home that is built in the United States.
Gifts can be made to Habitat International and, if designated for our affiliate, Habitat will forward contributions to us, but a processing fee of close to 10% is deducted. Habitat International does accept credit cards.
How are donations used?
Your gift is used as you specify. Unrestricted gifts are used where most needed. We have no paid employees and minimal administrative expenses. So, almost every dollar contributed is used for home building.
Unless specifically requested by the donor, 10% of all cash contributions to our affiliate are tithed to Habitat International for use in another country. For the past several years we have designated our tithe for Uganda where he have the satisfaction of knowing our annual tithe pays for the construction of a Ugandan home. We have alternated our quarterly tithe to Baptala, India and Uganda. Learn more about Habitat's work in India.
Habitat for Humanity's tithe program is a fundamental part of our daily operations, woven into the fabric of our charity just like sweat equity and volunteer labor. Tithe monies are 100 percent designated toward global building, which ensures that affiliates worldwide, regardless of their national poverty or wealthy, can keep working toward the goal of eliminating poverty housing.
The need for decent affordable shelter is a universal challenge. When we share financial resources as well as operational knowledge, we all get closer to our goal of eliminating substandard housing. Habitat affiliates are called to tithe at least 10 percent of undesignated cash revenues outside of our country/area office.
Where are our financial records kept?
As of January 2008, all permament copies of our financial records are kept in a fireproof filing cabinet at the United Church of Dorset and East Rupert on Church Street in Dorset, Vermont. Arrangements to see the records can be made in advance by contacting bennhabitat@yahoo.com.
Engel Spivey and Lemonik, PC completed a review of our financial statements for 2006. To review the statement and our 990 Federal tax return click on the links below.