2008 - Twin Cities Habitat for Humanity

Balance Sheet
June 30, 2008
Assets
Cash and Cash Equivalents ..........................................$2,914,361
Prepaid Expenses and Other Assets.....................................366,833
Accounts and Pledges Receivable Net ...................................509,005
Homes in Progress Inventory .........................................4,020,845
Land Inventory .....................................................4,111,213
Building Materials Inventory ..........................................643,922
Mortgages Receivable Net of Unamortized Discount ....................24,655,182
Buildings and Equipment Net. ........................................1,347,475
Total Assets ..................................................... $38,568,886
Liabilities
Accounts Payable ................................................... $561,263
Accrued Expenses ....................................................443,461
Affiliate Payable. ...................................................... 69,824
Long Term Debt Net of Unamortized Discount ........................15,563,014
Total Liabilities ....................................................16,637,562
Net Assets
Restricted and Unrestricted Net Assets................................21,931,324
Total Liabilities & Net Assets ...................................... $38,568,886
Statement of Activities
Year ending June 30, 2008
Revenues
Contributions & Grants .............................................$9,634,141
In-kind Materials, Services & Land ....................................1,888,631
Total Contributions & Grants ........................................11,522,772
Other Income.........................................................319,925
Houses Sold & Financed by Habitat....................................6,314,123
Total Revenues (Restricted & Unrestricted) ............................18,156,820
Expenses
Program Services ..................................................14,100,774
Management & General ............................................... 515,289
Fundraising ........................................................1,764,559
Total Expenses.....................................................16,380,622
Operating Income...................................................1,776,198
Interest Rate Discounting * and Amortization Net.......................(1,128,849)
Change in Net Assets ................................................$647,349
* 0% homebuyer mortgages and low-interest loans have been discounted to reflect interest costs if market interest
rates had been charged.
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