Broward County Habitat Community Housing Development Corporation

What it reported doing in 2024

The corporation is organized and shall be operated exclusively for charitable and educational purposes, as contemplated and permitted by the section 170(c)(2) and 501(c)(3) of the code. The specific purposes for which the corporation is organized are as follows: a) to further the affordable housing mission of habitat for humanity of broward county, inc., namely: broward habitat for humanity has been promotes family stability by providing innovative and affordable housing solutions to qualified individuals and families. In partnership with our community, we work toward our ultimate goal of eliminating substandard housing throughout the county and have a strong and reputable track record of doing so since formed in 1983. B) to seek out, utilize, and administer community housing development organization (chdo) funding under the guidelines put forth by the department of housing and urban development, related federal entities, and chdo participating jurisdictions and utilize these chdo funds in partnership with habitat for humanity of broward for the production of affordable housing. C) to collaborate with chdo participating jurisdictions and representatives of low income communities within participating jurisdictions in the funding and production of affordable housing in broward county, Florida. D) to exclusively promote and carry on any other charitable or educational purposes and activities for which corporations may be organized and operated under the relevant provisions of the code and under the Florida act. The need for affordable decent housing nationwide is alarming. In broward the affordability relative to wages makes it one of the least affordable communities in the country. Our population is service based and wages have not kept up with the increased costs and prices of housing. The affordable housing stock is over 100,000 units shy and only 12% of our residents can afford the average priced home in our county. When digging deeper on demographics and impacted populations, the racial disparity paints an even starker picture. The need is tremendous and though partnering with use of public dollars, private investment, the faith and business community and other non-profits the impact of any single investment due to the partnership provides impact of a multiple of 8-12x on average.

Financial Efficiency

• Mission deployment rate: 3.1%; rating input score 3
• Program expense ratio: 100%; rating input score 100

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100

Sustainability

• Operating margin: 96.9%; rating input score 99; 99th percentile among comparable filings
• Total-asset coverage ratio: 116.63; rating input score 99; 99th percentile among comparable filings
• Liabilities to assets ratio: 0.74; rating input score 7; 7th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: Limited
• Asset growth: 31.4% per year; rating input score 100; 92nd percentile among comparable filings