2024-10-01T09:50:02-07:00 2024-06-30 582361357 GREGG S BOSSEN CPA PC 50 LENOX POINT SUITE C ATLANTA GA 30324 990 2023-07-01 752381356 MIDLAND HABITAT FOR HUMANITY MIDL 4326868877 PO BOX 2555 MIDLAND TX 79701 ANDREW RICHERT President 2024-10-01 true true Gregg S Bossen P01444127 4048929513 2023 2024-10-15 13:58:12Z ANDREW RICHERT PO BOX 2555 MIDLAND TX 79701 3889006 false X habitatmidland.org X 1991 TX Changing lives through affordable home ownership. 14 13 16 507 0 1408637 1941376 1822341 1911277 24379 28585 1995 7768 3257352 3889006 0 0 825456 972184 0 30668 1874842 2424777 2700298 3396961 557054 492045 9506537 10059835 513253 574506 8993284 9485329 Changing lives through affordable home ownership. false false 3179387 1803085 For the year ended June 30, 2024, Midland Habitat for Humanity operated the following programs:(i) Affordable Homes Program:Land Development: As a homebuilder, Habitat will always need land and lots to construct homes, typically at the rate Habitat is building and selling houses each year. In order to ensure buildable lots in perpetuity, Habitat actively seeks donations of land/lots and purchases land/lots when donations are not possible. After acquiring the land, Habitat hires and works with contractors to do all the work needed to transform an undeveloped tract of land into a subdivision with roads and utilities ready to build houses on. This work requires extensive time and capital to ensure that Habitat has the land/lots needed to continue its program.Builder: Habitat is a construction company at its core and Habitat has two different housing models that Habitat constructs homes for.Traditional H1 Homes: This is our traditional Habitat model where homes are built and sold to people making 30-60% of the area's median income. People qualifying for this model must meet income guidelines, credit score minimum, complete sweat equity hours helping build homes, and complete a holistic homebuyers college course giving them the tools they need to thrive once they purchase their home. This model uses volunteers to help build homes and they are sold at cost with a 0% interest mortgage.H2 Homes: This is a supporting program that builds and sells homes targeting people making 60-80% of the area's median income. These homes are not built with homeowner sweat equity, donated materials, or volunteer construction help. Once completed, these homes are sold on the open market without the requirements of the traditional H1 model. This program serves three purposes 1) provides additional housing in a price point for-profit builders cannot afford to build in, 2) helps low-income families who dont qualify for our traditional program a homeownership option 3) provides program revenue used for land acquisition, and development in an ever-increasing market.Mortgage Company: Habitat sells H1 homes at no profit with a 0% interest loan, because that is not a financially viable option for banks Habitat has to issue and service its own mortgages to make that a possibility. This program allows Habitat to manually underwrite its loan to tailor requirements to Habitats low-income population which is almost always a first-time homebuyer. The income from the mortgages issued goes to support the overhead of the organization allowing it to sell homes at cost, without the need for a profit.(ii) ReStore: Habitat operates ReStore which is a non-profit retail outlet specializing in the resale of quality new and previously owned building materials, home furnishings, and appliances at 50-75% off retail prices. The income from the ReStore goes to support the overhead of the organization allowing it to sell homes at cost, without the need for a profit. 3179387 true true false false false false false false true false true false false true true false true false false false false false false false false false false false false false false false false false false false false false false false false false false false false false false true 24 0 true 16 true false false false false false false false 0 false false false false false false false X 14 13 false false true false false false false true true false false true true true true true true true true false X FLOR GALINDO 4326868877 305 EAST TEXAS MIDLAND TX 79701 JOSEPH HOPKINS Executive Dir. 40.00 0.00 X X 131250 0 0 ANDREW RICHERT President 2.00 0.00 X X 0 0 0 STEPHANIE HOUSTON Vice President 2.00 0.00 X X 0 0 0 ARICA GONZALEZ Treasurer 2.00 0.00 X X 0 0 0 KENNETH BURGESS Secretary 2.00 0.00 X X 0 0 0 WES ROBERTSON PAST PRESIDENT 1.00 0.00 X 0 0 0 BRANDON BEVERSDORF Director 1.00 0.00 X 0 0 0 ELVIE BROWN Director 1.00 0.00 X 0 0 0 BRAD SMITH Director 1.00 0.00 X 0 0 0 EMILY SMITH Director 1.00 0.00 X 0 0 0 RODERICK STRAMBLER Director 1.00 0.00 X 0 0 0 TOMMY TAYLOR Director 1.00 0.00 X 0 0 0 KYLE THOMAS Director 1.00 0.00 X 0 0 0 DAVID WALLACE Director 1.00 0.00 X 0 0 0 131250 1 false false false 0 134706 1806670 10000 1941376 INTEREST ON MORTAGES 160254 160254 MINERAL LEASE 132777 132777 MORTGAGE SERVICING 22629 22629 RESTORE 817893 817893 SALE OF HOMES 772128 772128 5596 5596 1911277 28585 28585 0 0 0 0 0 0 0 INSURANCE CLAIM MISCELLANEOUS 7768 7768 7768 3889006 1911277 36353 0 0 0 0 131250 105000 13125 13125 0 632964 618187 9654 5123 0 151280 143158 4509 3613 56690 53646 1690 1354 0 0 0 0 0 0 274121 246372 27749 9451 8891 560 0 5197 2809 2388 0 38620 34051 4569 5290 2213 3077 0 5871 1897 3974 0 0 46663 45977 686 68094 100 67994 BUILDING MATERIALS 1517201 1517201 PROPERTY COSTS 261070 261070 REPAIRS AND MAINT 40490 28462 12028 LICENSES AND PERMITS 37889 37889 114820 72464 34903 7453 3396961 3179387 186906 30668 1309394 2709844 1877237 1251974 6719 5467 14140 0 0 1365832 1254883 24629 16659 0 1086367 530122 602906 556245 0 0 0 0 4321072 4249371 9506537 10059835 30717 35290 95019 90390 351243 397689 36274 51137 513253 574506 X 8268063 7799615 725221 1685714 8993284 9485329 9506537 10059835 492045 X false true X true false X 537637 969685 610099 669849 1945376 4732646 0 0 537637 969685 610099 669849 1945376 4732646 1193235 3539411 8180 4505 88441 24379 28585 154090 0 0 4886736 0.72430 0.80190 X Part I: Additional Information UNUSUAL GRANT NOT INCLUDED IN SCHEDULE A PART 2 SECTION A, LINE 1 - 2022 $735,000 DONATION OF LAND FOR BUILDING HOMES ON- 2021 $2,000,000 DONATION OF LAND FOR BUILDING HOMES ON Part I, Line 12f: Supported Org Not Named in Organizing Documents RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true 16125 16125 498984 197212 301772 308824 106378 202446 262434 226532 35902 556245 COST OF HOMES IN PROGRESS 690137 HOUSES HELD FOR RESALE 3559234 4249371 BOOTSTRAP PAYABLE 29319 PAYROLL LIABILITIES 13313 SALES TAX PAYABLE 8505 51137 3893006 4000 4000 3889006 3889006 3400961 4000 4000 3396961 3396961 Form 990, Part VI, Section A, Line 4 Revised the Restore Employee Purchase policy and updated the financial policies. Form 990, Part VI, Section B, Line 11b THE 990 IS PREPARED BY THE AUDITOR AND PRESENTED TO MEMBERS OF THE EXECUTIVE COMMITTEE AND THEN TO THE BOARD FOR FINAL APPROVAL. Form 990, Part VI, Section B, Line 12c BOARD MEMBERS ARE GIVEN A COPY OF HABITAT'S PROCEDURES FOR REPORTING CONFLICTS OF INTEREST, ALONG WITH THE DEFINITION OF A CONFLICT OF INTEREST. BOARD MEMBERS ARE ASKED ON AN ANNUAL BASIS TO SIGN AND DATE A FORM AND LIST ANY/ALL CONFLICTS OF INTEREST THEY HAVE WITH HABITAT OF WHICH THEY ARE AWARE. Form 990, Part VI, Section B, Line 15a THE EXECUTIVE BOARD AND MANAGEMENT REVIEW SURVEYS PROVIDED BY HABITAT FOR HABITAT FOR HUMANITY INTERNATIONAL, NON PROFIT MANAGEMENT CENTER AND OTHER LOCAL AND STATE NON PROFITS. THE EXECUTIVE BOARD REVIEWS SALARY INCREASES TO MAKE FINAL RECOMMENDATIONS TO THE BOARD OF DIRECTORS. Form 990, Part VI, Section B, Line 15b THE EXECUTIVE BOARD AND MANAGEMENT REVIEW SURVEYS PROVIDED BY HABITAT FOR HABITAT FOR HUMANITY INTERNATIONAL, NON PROFIT MANAGEMENT CENTER AND OTHER LOCAL AND STATE NON PROFITS. THE EXECUTIVE BOARD REVIEWS SALARY INCREASES TO MAKE FINAL RECOMMENDATIONS TO THE BOARD OF DIRECTORS. Form 990, Part VI, Section C, Line 19 No documents available to the public.