Habitat For Humanity Of Metro Louisville Inc
- Assets
- $17.7m
- Revenue
- $8.7m
- Investments
- $1.0m
- Employees
- 74
- Location
- Louisville, KY
- Founding
- 01/1987
- Data as of
- 12/2021
- EIN
- 58-1735528
Organization Overview
Habitat For Humanity Of Metro Louisville Inc is located in Louisville, KY. The organization was established in 1987. According to its NTEE Classification (L20) the organization is classified as: Housing Development, Construction & Management, under the broad grouping of Housing & Shelter and related organizations. As of 12/2021, Habitat For Humanity Of Metro Louisville Inc employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Habitat For Humanity Of Metro Louisville Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Habitat For Humanity Of Metro Louisville Inc generated $8.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.8% each year. All expenses for the organization totaled $7.4m during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING HOUSING SOLUTIONS OF HOMEOWNERSHIP, COMMUNITY DEVELOPMENT AND HOME REPAIR TO QUALIFIED APPLICANTS USING VOLUNTEER AND HOMEBUYER SWEAT EQUITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONSTRUCTION PROGRAM: THE CONSTRUCTION PROGRAM SUPERVISES NEW HOUSE BUILDS, REHABBED HOME BUILDS AND OWNER-OCCUPIED REPAIR PROJECTS. IN 2021, 46 FAMILIES WERE SERVED BY OUR EFFORTS.
MORTGAGE DISCOUNTS: MORTGAGES ARE DISCOUNTED USING AN IMPUTED INTEREST RATE THAT APPROXIMATES THE RATE THAT AN INDEPENDENT BORROWER AND LENDER WOULD HAVE NEGOTIATED IN A SIMILAR TRANSACTION. NEW MORTGAGES EQUALING APPROXIMATELY 2.1 MILLION WERE WRITTEN AND ENTERED INTO IN 2021 AND WERE DISCOUNTED TO REPRESENT THE PRESENT VALUE OF THESE ZERO INTEREST LOANS. IMPUTED INTEREST OF 7.23% IS USED FOR MORTGAGES IN 2021.
RESTORE PROGRAM: THE PURPOSE IS TO GENERATE A SUSTAINABLE SOURCE OF INCOME FOR HFHML BY DIVERTING USABLE BUILDING MATERIALS, FURNITURE AND APPLIANCES FROM LANDFILLS AND SELLING THOSE DONATED ITEMS TO THE PUBLIC. IN 2021, WE ESTIMATE THAT OVER 2.1 MILLION POUNDS OF MATERIALS WERE DIVERTED FROM LANDFILLS.
HOMEBUYER SERVICES - THE OBJECTIVE OF THIS PROGRAM IS TO SELECT AND APPROVE APPLICANTS FOR HOMEOWNERSHIP. ONCE APPROVED, HOMEBUYERS ARE PREPARED FINANCIALLY, EMOTIONALLY, AND SOCIALLY FOR HOMEOWNERSHIP BY THIS PROGRAM. IN 2021, 142 FULL APPLICATIONS WERE SCREENED WITH 40 APPROVED APPLICATIONS. OVER 25 WORKSHOPS WERE HELD TO MEET THIS OBJECTIVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert D Locke CEO | Officer | 40 | $126,962 |
John Dwyer President | OfficerTrustee | 2 | $0 |
Joy Walker Treasurer | OfficerTrustee | 2 | $0 |
John Borders VP Of Admini | OfficerTrustee | 2 | $0 |
Glenn Kosse Vp/secretary | OfficerTrustee | 2 | $0 |
Jon Baker Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,177,863 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,546,852 |
| Noncash contributions included in lines 1a–1f | $80,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,724,715 |
| Total Program Service Revenue | $4,776,751 |
| Investment income | $67,828 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,716,107 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $671,788 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $126,962 |
| Compensation of current officers, directors, key employees. | $8,887 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,676,541 |
| Pension plan accruals and contributions | $62,511 |
| Other employee benefits | $103,977 |
| Payroll taxes | $144,597 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,157 |
| Fees for services: Accounting | $23,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,855 |
| Advertising and promotion | $87,634 |
| Office expenses | $45,277 |
| Information technology | $65,622 |
| Royalties | $0 |
| Occupancy | $395,675 |
| Travel | $143,127 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,430 |
| Payments to affiliates | $25,000 |
| Depreciation, depletion, and amortization | $206,101 |
| Insurance | $75,504 |
| All other expenses | $136,668 |
| Total functional expenses | $7,404,120 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,847,645 |
| Savings and temporary cash investments | $287,144 |
| Pledges and grants receivable | $914,045 |
| Accounts receivable, net | $116,227 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $9,888,261 |
| Inventories for sale or use | $95,338 |
| Prepaid expenses and deferred charges | $15,874 |
| Net Land, buildings, and equipment | $1,877,530 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,045,718 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,604,919 |
| Total assets | $17,692,701 |
| Accounts payable and accrued expenses | $271,923 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $962,420 |
| Total liabilities | $1,234,343 |
| Net assets without donor restrictions | $15,915,118 |
| Net assets with donor restrictions | $543,240 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,692,701 |
Grants Recieved
Over the last fiscal year, we have identified 14 grants that Habitat For Humanity Of Metro Louisville Inc has recieved totaling $378,919.
| Awarding Organization | Amount |
|---|---|
Habitat For Humanity International Inc Americus, GA PURPOSE: AFFORDABLE HOUSING | $213,218 |
Norton Healthcare Inc Louisville, KY PURPOSE: Support of funding for a home build project | $50,000 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $24,800 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $16,707 |
Margaret E & Stephen E Diebold Charitable Foundation Inc Louisville, KY PURPOSE: GENERAL FUND | $15,000 |
Thrivent Financial For Lutherans Minneapolis, MN PURPOSE: Housing | $15,000 |
Endowment Analysis
| Beg. Balance | $831,357 |
| Earnings | $112,862 |
| Net Contributions | $100,000 |
| Ending Balance | $1,044,219 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
North East Community Action Corporation Bowling Green, MO | $19,489,309 | $16,722,475 |
Affordable Housing Development Fund Inc Rockford, IL | $87,465,066 | $18,557,415 |
Chicago Low Income Housing Trust Fund Chicago, IL | $68,435,328 | $24,410,244 |
Interfaith Housing Development Corporation Of Chicago Chicago, IL | $13,790,371 | $15,355,980 |
Shelter House Inc Reston, VA | $6,743,159 | $14,877,410 |
European American Association Chicago, IL | $18,209,689 | $14,984,488 |
Habitat For Humanity International Inc Cincinnati, OH | $19,861,311 | $21,403,808 |
Alexandria Housing Development Corporation Alexandria, VA | $129,711,642 | $8,689,601 |
Habitat For Humanity Of Greater Nashville Nashville, TN | $71,491,096 | $16,513,254 |
Buckeye Community Hope Foundation Columbus, OH | $50,429,521 | $11,276,532 |
Hispanic Housing Development Corp Chicago, IL | $88,735,655 | $15,154,061 |
Caracole Inc Cincinnati, OH | $7,131,053 | $11,567,326 |