Habitat for Humanity Peninsula and Greater Williamsburg

Construction & sale of homes. Habitat completed and sold 6 houses during fye june 2023. At june 30, 2023, an additional 30 houses were under construction. Costs expended to date on the houses in progress totaling 1,223,729 are capitalized on the balance sheet and not included in the expense amount reported on the 990. Program expense includes the direct cost of construction, construction overhead, and the costs of selecting potential homeowners and educating them in the responsibilities of homeownership. This includes home repairs and maintenance and financial and credit education.

Voluntary support of Habitat for Humanity international house building programs outside the united states, and donations to other charitable organizations.

Homes are sold to qualified low-income families with interest at -0-%, generally with 20 to 30 year mortgages. The mortgages are discounted to reflect the fmv of the 0% interest rate. This discount is the cost to Habitat of providing the mortgages.

Habitat for Humanity restores are nonprofit home improvement stores and donation centers that sell new and gently-used furniture, appliances, home accessories, building materials and more to the public at a fraction of retail price. The goal of the restore is to generate enough profits to build more Habitat homes for deserving, low-income families, as well as to promote recycling. 100% of the net proceeds from the restores are used to build and sell affordable housing.