FY2023 – 24 Impact Report
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Treasurer’s Message
Global Tithe
Consolidated Financials
In 2023, Habitat EJC experienced 80% growth, providing critical repairs and housing for more people than ever.
Financial Foundations
Q&A with David Rinn, Habitat EJC Board Treasurer
Financially, what is the most significant thing that happened this year?
In 2023, we sold 11 homes to our partners. This is significant both operationally and financially. Operationally, because it demonstrates we are delivering on our core mission to provide affordable housing and help address the acute housing crisis we are experiencing here in Jefferson County. And it is significant financially because when we sell a home, we recoup a majority of the funds we spent to build that home, and we are then able to redeploy those funds towards the construction of another home for another partner family.
What percentage of the expenses go into the program and why is this significant?
In our most recent fiscal year that ended June 30, 2023, 88% of our expenses went directly into our programs. This is obviously significant because it means the vast majority of the funds we raise directly support our core mission. I would encourage all our supporters and donors to take a look at our financial statements, which are available on our website.
As treasurer, what do you want the public to be most aware of?
As treasurer, I continually think about our cash needs and cash resources. I am guessing that a lot of our supporters are not aware of the following. Given the cost of land and construction in Jefferson County, we lose money on each house we sell. The amount varies based on the size and type of the home. But by way of example, when we sell a home to a partner at the affordable price of $200,000, that home might well have cost us $330,000 to build. This means that we not only need to finance the cost of construction (we are outlaying funds during the year-long or so construction process that we recoup upon sale), but that we are only partially recouping our construction costs. This presents a real challenge to our business model, and requires that we continuously work super hard at fund raising and managing the cost of construction.
Making a difference around the world
Through its Global Tithe program, Habitat EJC works with partners in
Nepal, Lesotho and Ethiopia.
East Jefferson County, WA, USA
In FY2023, 11 families purchased their Habitat homes, and 7 homes were repaired.
The average cost to build a Habitat home in East Jefferson County is $300,000+.
Lesotho, Africa
In FY2023, Habitat EJC helped eleven families across Nepal, Ethiopia and Lesotho.
The average cost of building a housing solution in Habitat service areas in Africa and Asia is $4,500.
Ethiopia, Africa
In FY2023, Habitat EJC helped eleven families across Nepal, Ethiopia and Lesotho.
The average cost of building a housing solution in Habitat service areas in Africa and Asia is $4,500.
Nepal, Asia
In FY2023, Habitat EJC helped eleven families across Nepal, Ethiopia and Lesotho.
The average cost of building a housing solution in Habitat service areas in Africa and Asia is $4,500.
Since 1998, Habitat EJC has:
