Program areas at Habitat for HUMANITY - Findlay-Hancock Co HFH of
Home Ownership (Building Program) - This program provides families in need of a decent place to live with safe and affordable housing in partnership with the organization. Habitat houses are modestly sized and large enough for the homeowner's needs but small enough to keep construction and maintenance costs affordable to the family. Each family provides a set number of Sweat Equity Hours during the construction process along with community volunteers and employing efficient building methods and keeping the house sized correctly keeping construction cost as low as possible which in turn makes its houses affordable to low income families to purchase through no profit loans. Affordable homeownership helps create conditions that free households of instability , stress and fear and encourage self-reliance and confidence. During 2022 this organization constructed 4 new homes for families and which provided housing for 9 individuals (6 adults and 6 children).
Financial Opportunity Center (FOC) - This program provides counseling, financial counseling and employment coaching to help individuals achieve their goals. These goals can include increasing income, reducing expenses, building credit or acquiring assets such as becoming eligible to qualify for the Home Ownership program. FOC services are available to anyone, free of charge, and regardless of income, socioeconomic status, criminal history, recovery, etc.. In 2022 325+ clients were counseled or are currently enrolled in the program.
ReStore Operations - The restore is a retail outlet where quality, used furniture, appliances and household items and surplus building materials are sold a a fraction of the normal prices with the net proceeds going to fund the other organization's programs. Materials sold by the restore are primarily donated by individuals to show their support of Habitat and are recognized as gifts in kind. In addition to raising funds, the restore helps the environment by repurposing quality materials into use, instead of into the landfill.
Home Repair Program - The Home Repair Program is an outreach initiative that seeks to provide a wide range of opportunities for low to moderate income homeowners who are struggling to maintain their homes because of age, disability, family circumstances, or lack of sufficient income. Projects consist of interior and exterior repairs intended to alleviate critical health, life and safety issues or code violations. This program allows families to stay in their home due to disrepair. Homeowners will pay based on their income and that is the revenue that is reported. In 2022, 27 families received home repairs.
Mortgage Discounting & Amortization - Due to Habitat mortgages associated with the Home Ownership Program being non-interest bearing the mortgages per accounting regulations are required to be discounted for financial reporting purposes and the discounting is recorded as a program expense. The cumulative amount that has been discounted is amortized over the remaining life of the mortgages and this calculation is referred to as the mortgage amortization and is accounted for as a income item per accounting regulations.
Vendor Rebates - The Vendor rebates will be applied against future program expenses.