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2007-2008 Annual Report

Posted: 2008-11-24 00:00:00

2008 Building Season Highlights

 


Volunteers
Habitat homes are built by volunteers. In the 2008 building season we estimate that 430 people picked up a hammer, saw, paint brush or rake to enable five more families to become homeowners. House construction was also supported by 265 other volunteers who prayed for our projects, served meals to volunteers, provided devotions, helped with mailings or office work, or served on the board of directors and Habitat committees. Thank you!

Construction

 

 

The Ritz’s home in Hibbing was completed in early October with Harold Wentland’s leadership as 

 

volunteer site supervisor. This home was sponsored 

by the Sustainable Forestry Initiative, Tree Farm Inc., and the Wells Fargo Foundation.

 

 

 

The Deutsch family moved into their home in Midway in mid October. Volunteers were led by volunteer site supervisors: 

Doug Gettle, Jon Siman and Tom Krause. The Midway home was sponsored by the Wells Fargo 

Foundation.

 


 

 

 

 

The Westin’s home in Soudan was built on a lot donated by Breitung township and completed in October. This home was built by a steady group of experienced construction volunteers, led by Earl Zimmerman and Rod McPeak, who worked almost daily with Julie throughout the summer.

 

 

 

 

 

 

The Otto’s home, built on a lot donated by the City of Aurora and sponsored by Wells Fargo, began with a framing Blitz Build in early August, led by Nate Tollefson and his crew of Olympic Framers. Pastor Brian Birk led a wonderful crew of volunteers in completing the home after the initial frame up.

 

 

 

 

 

The Firebaugh home in Hibbing, to be completed in September of 2009, is being led by teachers from the home construction classes in Chisholm, Nashwauk, and Hibbing high schools as well as the Hibbing Community College’s Electrical and HVAC classes. This home is sponsored by the United Youth for United Way, and the Northland Foundation.

 


 

 

 

 

FISCAL YEAR JULY 1, 2007 – JUNE 30, 2008
FINANCIAL HIGHLIGHTS


Construction of Homes
During the fiscal year which ended June 30, 2008, NSLCHFH completed two homes with two partner families. These families are now living in their new homes, one in Chisholm and the other in Midway community of Virginia. NSLCHFH also began construction on four additional homes before the end of our last fiscal year. These homes in Soudan, Midway, Aurora, and Hibbing, are now either finished or close to completion.

Sources of Funding (Cash)
Individuals, businesses, churches and community organizations contributed $85,900.

NSLCHFH raised $41,900 through three fundraising events: an annual dinner and silent auction, a fundraising letter, and participation in the Minnesota Habitat 500 bike ride.

Grants provided $99,200 in funding. A Wells Fargo Foundation grant was designated for the homes in Aurora, Hibbing and Midway. Lowe’s gave a store credit and funds for the house in Chisholm.

In-Kind donations provided building materials, professional services, and building lots valued at $84,400.

Homeowners repaid $67,400 through monthly payments on their mortgages, providing a source of funding for construction of additional homes.

NSLCHFH leverages its mortgage portfolio by participating in Habitat Minnesota’s 21st Century program. During the fiscal year ended June 30, 2008, it borrowed $115,000 in additional funds, made payments of $26,400, and paid $9,200 in loan fees.


Cash Expenditures
Two new homes were constructed during the fiscal year which ended June 30, 2008 resulting in construction expenditures $98,700 during the year. (Some expenditures were made during the prior year.) In addition, construction of four additional homes began before June 30, 2007 with cash outlays totaling $82,100. A total of $180,800 was invested in construction of homes for partner families. The remaining program costs were $73,000, bringing total cash program expenditures to $253,800.

The administrative cash expenditures were $24,200. The total cash expenditures for fundraising were $15,700.

 

Audited financial statements are available upon request.