Habitat for Humanity Missoula

Construction costs: Habitat Missoula completed construction on two homes during 2022, our 59th and 60th. 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 600 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 2022 resulted $180,419 in sales and $165,223 in expenses for net income of $15,197.

Other program service expenses of $230,562 and revenue of $133,478 are the program related expenses and revenue that are not included in the construction costs or mortgage discount expenses. These expenses are crucial for the mission and goals of the organization. See part ix for a breakdown of these expenses. The revenue is rental income of $27,858 and private grants of $105,620.rental income is the result of rental of purchased land to tenants at affordable rates. This is land that the organization has plans to build on in later years, but does not currently have the funding to begin construction on.