We have a bottom line In our budgeting process. On it is the name of another family in need of a safe, affordable, and sufficient place to call their home! We work very hard to secure the financial resources and volunteers to help more people.
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?
Audit and 990 Form
- The Bennington Area Habitat for Humanity affiliate is a 501 (c) 3 non-profit organization. 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 $125,000 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 built our first 13 homes with no paid staff. We now support our volunteers with a full time executive director, and a part time staff member whose focus is on raising awareness and funds in the southern part of Bennington County, a part time person to manage sales at the Shires ReSale Store, and a part time person who manages the office. We retain the services of a site supervisor and professionals to complete the wiring, plumbing, roofing and excavation. Many area contractors donate or give us a favorable price for their services.
- When done, we convey an interest free mortgage for 20 to 30 years. These mortgage payments are used to build more homes.
- Over 85% 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. Habitat International reports that we have paid for 17.4 homes to be built in other countries. The average cost is $4,500.
- Anyone wishing to see a copy of our 990 IRS form and Financial Statement with Independent Auditor's Report can do so by stopping by the Habitat Office or clicking the link under the Audit and 990 Form heading below.
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 1159, Manchester, Vermont 05254. Almost 90% of each dollar donated directly to our affiliate is applied to building homes. We 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. As of September 2014 we had completed 18 homes in Vermont and our tithe has served 19.2 families in other countries.
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.
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. Ten percent of all cash contributions are tithed to Habitat International for use in another country. Read the next section to learn how we are able to ACT locally and help globally.
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. As of April 2015, we are credited with having provided sufficient funds through our tithe to serve 19.2 families internationally. For 2015, our board of directors decided to designate our tithe to be used in Kenya. Kenya has a critcal need for housing, health, and education, and we have recently established a relationship with Habitat volunteers in Kenya.
The cost of building a home internationally, has increased over the years. When it was first calculated, it cost $1,500 for a home. It now costs $4,500 on average for a home in another country. The size and the amenities included vary extensively from one country to the next and compare favorably with the norm in each country. The definition of safe, decent, and affordable governs what is built in each country.
Habitat for Humanity's tithe program is a fundamental part of our daily operations, woven into the fabric (see map on the left) 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 un-designated cash revenues outside of our country/area office.
6-30-2015and2014FinancialStatements (with Independent Auditor's Report)