Habitat for Humanity of Monroe County
Board of Directors
Agenda July 12, 2011
1.
2.
3.
4.
5.
6.
Catch the Spirit (2 minutes)
Financial Statement Review (5 minutes)
Project Manager Salary Adjustment (5 minutes)
Family Selection—5 Potential Homeowners (10 minutes)
SMART Goals (30 minutes)
Board Roles/Responsibilities (30 minutes)
1
Habitat for Humanity of Monroe County Board of Directors
June 21, 2011
In Attendance: Aaron Stolberg; Andy Allard; Angela Tharp; Beth Ellis; Kerry Thomson; Kristin Bogue; Randy Arnold; Nick
Bell (guest); Sheri Fella (guest)
Absent: John Ambler; Kristin Bogue; Lauren Robel
Catch the Spirit (Randy)
·
Kudos to the Arnolds for the birth of Baby Joseph
Approval of Minutes/Staff Reports (Beth)
·
Angela motioned to approve minutes, and Randy seconded; all approved
Strategic Planning
·
Vision and Goals: Sheri asked board members to identify their top two priorities in each category: engagement,
resources, and education. These will be typed up and sent to the Board with an assignment for the next meeting.
·
Staffing Issues: Kerry reviewed existing positions. She wants to separate the family/volunteer services positions.
Rebecca would keep family services, and Laura could take volunteer services for 20 hours per week. HFH would then
need to find someone to cover receptionist duties for the 20 hours that Laura is away from the desk. Also, she wants to
move Adrian into a construction leadership position to train more crew leaders on Saturdays. HFH would then need to hire
a new full-time construction assistant to replace Adrian's current role.
Randy motioned that HFH should add the 1.5 positions and Aaron seconded; all approved.
Treasurer’s Report (Andy)
·
ReStore Budget: The Finance Committee prepared two budget scenarios, both conservative. If things hold steady
with no increase in volume, then RS would see 360K in sales/revenue. If there's a 15% increase, then RS would see
414K.
Angela motioned to approve the committee's recommendation and Randy seconded; all approved.
The Board discussed putting a banner on the construction fencing at RS to ensure potential customers know we're open.
Kerry overviewed a potential RS location on the east side. Aaron motioned that the staff should have the authority to write
a letter of intent for up to 600K to buy the RS location if the staff thinks we can fit and grow there. Randy seconded, and
all approved.
·
Affiliate Budget:
Andy summarized the Habitat Budget 2011-2012 document. Again, the committee took a fairly conservative approach.
Aaron moved to approve the budget and Randy seconded; all approved.
·
Monthly Financials:
Andy said these financials are now dated (from April 30), and there's nothing notable to report.
2
New Business (Kerry) Home Repurchase: Kerry said a Habitat family is moving and has offered the home back for
purchase. It's a two-bedroom house, and the staff's recommendation is to buy it. It's in great shape, and the waiting list is
long. HFH will come out ahead. We'll have to repay $1,600 in FHLB loans, but we'll get another $5K.
Aaron motioned that HFH should buy back the home and Randy seconded; all approved.
Sent from my iPad
3
Habitat Balance Sheet
May 31, 11
ASSETS
Current Assets
Checking/Savings
1005 · CD
1006 · Monroe Bank Shop
1007 · First Financial - checking
1011 · IU Credit Union checking
35,513.53
1.00
238,015.60
5.00
1012 · IU Credit Union money market
200,224.46
1013 · Old National Bank Savings
110,849.71
Total Checking/Savings
584,609.30
Accounts Receivable
1107 · Hilary Kirk
1110 · AR- Restore
1100 · Mortgages Receivable
1105 · Unamortized Disc on Mortgage
Total Accounts Receivable
10,740.88
226.14
3,477,663.13
1,491,961.96
1,996,668.19
Other Current Assets
12000 · Undeposited Funds
22,144.16
1200 · Inventory
1201 · Supplies
5,000.00
1210 · Grocery Coupons
2,923.00
Total 1200 · Inventory
7,923.00
1250 · Prepaid Expenses
1252 · Prepaid AmeriCorps
1250 · Prepaid Expenses - Other
Total 1250 · Prepaid Expenses
2,875.00
10,826.25
13,701.25
1300 · Land for Development
E. Thorton Dr.
1008 E. Thorton Dr.
30,000.00
1004 E. Thorton Dr.
30,000.00
Total E. Thorton Dr.
60,000.00
14th & College
4
303 W. 13th St.
33,500.00
922 N. Woodburn Ave.
33,500.00
902 N. Woodburn Ave.
33,500.00
918 N. Woodburn Ave.
33,500.00
313 W. 13th St
33,500.00
307 W. 13th St
33,500.00
908 N. Woodburn Ave.
33,500.00
Total 14th & College
234,500.00
Diamond St. property
231,223.00
Cedar Chase - 34 lots - 15 used
437,821.48
Total 1300 · Land for Development
Total Other Current Assets
Total Current Assets
963,544.48
1,007,312.89
3,588,590.38
Fixed Assets
1400 · Fixed Assets
1401 · Automobiles
2008 Montana
7,681.45
2011 Silverado
18,500.00
1401 · Automobiles - Other
13,850.00
Total 1401 · Automobiles
40,031.45
1413 · Trailer
2011 Trailer
6,285.00
1413 · Trailer - Other
8,002.28
Total 1413 · Trailer
14,287.28
1441 · Buildings
Campbell House
722/724 Lindbergh
Total 1441 · Buildings
1442 · Bldg Improvements
1451 · Computers & Equipment
101,228.06
75,106.36
176,334.42
19,464.00
8,267.71
1461 · Office Equipment
Cannon Image Runner 2525
Total 1461 · Office Equipment
4,475.00
4,475.00
5
1490 · Accumulated Depreciation
Total 1400 · Fixed Assets
Total Fixed Assets
-40,626.19
222,233.67
222,233.67
Other Assets
1500 · Investments - Land Not For Sale
Total Other Assets
TOTAL ASSETS
17,615.45
17,615.45
3,828,439.50
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
2100 · Accounts Payable
Total Accounts Payable
3,011.98
3,011.98
Credit Cards
Lowe's
-1,168.84
Chase
1,697.98
Total Credit Cards
529.14
Other Current Liabilities
2120 · Homeowner Escrows - MFS
-890.72
2105 · Accrued Vacation Payable
25,932.09
2110 · Home Deposits
34,534.00
2200 · Payroll Liabilities
2108 · Accrued Pension
181.26
2107 · Accrued Payroll taxes
883.84
2106 · Accrued Payroll
Total 2200 · Payroll Liabilities
Total Other Current Liabilities
Total Current Liabilities
8,867.56
9,932.66
69,508.03
73,049.15
Long Term Liabilities
2600 · Long Term Notes Payable
6
2658 · SHOP , #103025
365.25
2668 · SHOP 2005 #121054
3,863.00
2670 · SHOP 2005 #122016
1,307.00
2672 · SHOP 2005, #123011
3,395.00
2678 · SHOP 2006, #131079
10,504.00
2680 · SHOP 2008, 151039
17,500.00
2682 · SHOP 2006, #132034
30,000.00
2645 · AAR 2009-1,#50580 NP Flexcap
2647 · Flexcap 2009- reserve
-10,586.22
2645 · AAR 2009-1,#50580 NP Flexcap - Other
134,437.96
Total 2645 · AAR 2009-1,#50580 NP Flexcap
Total 2600 · Long Term Notes Payable
Total Long Term Liabilities
Total Liabilities
123,851.74
190,785.99
190,785.99
263,835.14
Equity
3000 · Opening Bal Equity
3100 · Unrestricted Net Assets
Net Income
Total Equity
TOTAL LIABILITIES & EQUITY
841,392.86
1,993,645.48
729,566.02
3,564,604.36
3,828,439.50
7
Habitat Income Statement
May 11
Jul '10 - May
11
Ordinary Income/Expense
Income
4100 · Contributions
4104 · General Contributions
4105 · Churches
0.00
7,996.47
4101 · Individual
9,545.41
342,596.08
4102 · Businesses
1,050.00
80,949.61
241.48
13,831.14
Total 4104 · General Contributions
10,836.89
445,373.30
4106 · House Sponsors
41,870.50
320,622.58
52,707.39
765,995.88
0.00
274,337.00
0.00
274,337.00
4601 · Sales of Grocery Coupons
2,235.00
26,710.00
4602 · Cost of Grocery Coupons
-2,740.75
-26,395.75
0.00
20.00
-505.75
334.25
375.00
3,715.00
4704 · Rebates
50.00
6,450.00
4705 · Refunds
0.00
457.63
4706 · Interest Income
76.49
846.17
4707 · Miscellaneous
35.19
346.07
0.00
3,657.18
536.68
15,472.05
4103 · Organizations
Total 4100 · Contributions
4300 · Home Sales
4301 · Home Sales
Total 4300 · Home Sales
4600 · Fund Raising Income
4603 · Sales of Fundraising Inventory
Total 4600 · Fund Raising Income
4700 · Other Income
4701 · Rental Income
4700 · Other Income - Other
Total 4700 · Other Income
4800 · Grant Income
4810 · The Home Depot Foundation
0.00
24,000.00
4803 · SHOP Grant
0.00
120,000.00
4806 · City of Bloomington
0.00
312,500.00
12,900.45
65,935.61
4807 · Softwood Lumber
8
4808 · IHCDA grant
1,058.98
295,378.73
4809 · Other Grants
0.00
5,000.00
13,959.43
822,814.34
66,697.75
1,878,953.52
0.00
69,106.02
Total 4800 · Grant Income
Total Income
Cost of Goods Sold
5200 · Construction Materials Costs
5300 · COGS - Lot, Land
5205 · Site Prep
6,300.28
38,947.67
41,456.31
244,929.31
6,400.96
95,200.32
5250 · Other Construction Costs
11,558.15
87,546.88
Total 5200 · Construction Materials Costs
65,715.70
535,730.20
65,715.70
535,730.20
982.05
1,343,223.32
0.00
703.78
5210 · Foundation/Floor/Frame/Roof
5220 · Mechanical/Plumbing/Electrical
Total COGS
Gross Profit
Expense
6005 · Auto and Truck Expenses
6005.1 · registration
6005.2 · repairs
6005.3 · fuel
6005.4 · auto insurance
Total 6005 · Auto and Truck Expenses
6010 · Bank Fees & Service Charges
36.44
1,230.60
535.61
3,544.45
0.00
2,419.45
572.05
7,898.28
1,217.25
4,783.21
6015 · Business Licenses and Permits
0.00
7.14
6020 · Closing Costs/Credit Check, Etc
1,289.73
2,902.14
59.25
5,064.10
6030 · Construction Tools & Supplies
3,902.25
10,235.88
6035 · Contract Labor
3,225.80
51,091.60
6042 · Fees
1,996.32
6,005.90
6046 · Meals and Entertainment
196.69
2,560.35
6047 · Volunteer Expenses
607.99
3,693.42
804.68
6,253.77
3,292.64
23,882.66
6025 · Computer Support
6045 · Hospitality
Total 6045 · Hospitality
6050 · Insurance
9
6060 · Interest Expense
6061 · Misc Expense
6065 · Mortgage Service Fee
610.71
7,224.56
0.00
36.85
774.00
8,742.00
0.00
408.19
1,246.85
2,807.58
179.05
846.55
1,425.90
4,062.32
27,289.77
349,217.89
0.00
7,253.53
27,289.77
356,471.42
296.54
8,999.97
28.17
9,759.58
227.50
10,599.50
6070 · Office Expense
6070.1 · Copier Maintainence
6070.2 · Supplies
6070 · Office Expense - Other
Total 6070 · Office Expense
6080 · Payroll Expenses
6081 · Salaries & Wages
6086 · 401K Expense
Total 6080 · Payroll Expenses
6090 · Postage & Freight
6091 · Printing
6095 · Professional Fees
6097 · Public Relations
0.00
2,520.34
300.40
8,803.35
32.15
1,525.32
10,072.29
8,339.64
6120 · Tithes & Missions Expense
522.00
46,323.60
6125 · Training
207.57
7,892.99
1,210.11
5,730.36
6100 · Rentals, Etc - Events
6105 · Repairs and Maintenance
6110 · Taxes
6130 · Travel
6150 · Utilities
6150.1 · Natural Gas
81.41
1,033.62
171.73
2,483.94
6150.3 · Water & Sewer
20.61
209.49
6150.4 · Cellular Phones
182.20
2,446.59
6150.5 · Internet
119.90
899.45
6150.6 · Telephone
231.66
1,427.73
807.51
8,500.82
60,164.59
613,657.30
59,182.54
729,566.02
59,182.54
729,566.02
6150.2 · Electric
Total 6150 · Utilities
Total Expense
Net Ordinary Income
Net Income
10
ReStore Balance Sheet
May 31, 11
ASSETS
Current Assets
Checking/Savings
1100 · Cash and Cash Equivalents
1101 · Petty Cash
1102 · United Commerce
1100 · Cash and Cash Equivalents - Other
Total 1100 · Cash and Cash Equivalents
Total Checking/Savings
150.00
244,911.85
124.03
245,185.88
245,185.88
Other Current Assets
1210 · Other Current Assets
1211 · Prepaid Expenses
983.31
Total 1210 · Other Current Assets
983.31
Total Other Current Assets
Total Current Assets
983.31
246,169.19
Fixed Assets
1300 · Fixed Assets Net
1301 · Cars and Trucks
Isuzu
1301 · Cars and Trucks - Other
40,074.00
2,200.00
Total 1301 · Cars and Trucks
42,274.00
1311 · Warehouse & Construction Equip
23,750.00
1361 · Office Equipment
1362 · Acc Dep-Office Equipment
Total 1300 · Fixed Assets Net
Total Fixed Assets
TOTAL ASSETS
649.99
-285.00
66,388.99
66,388.99
312,558.18
11
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
2100 · Accounts Payable
Total Accounts Payable
-10.98
-10.98
Credit Cards
Chase
Total Credit Cards
184.45
184.45
Other Current Liabilities
2200 · Sales Tax Payable
2509 · Due HfH
Total Other Current Liabilities
Total Current Liabilities
Total Liabilities
1,691.25
226.14
1,917.39
2,090.86
2,090.86
Equity
3000 · Opening Bal Equity
2,269.04
3300 · Retained Earnings
199,187.93
Net Income
109,010.35
Total Equity
TOTAL LIABILITIES & EQUITY
310,467.32
312,558.18
12
ReStore Income Statement
May 11
Jul '10 - May
11
Income
4100 · Contributions
4110 · Individuals
0.00
1,301.56
Total 4100 · Contributions
0.00
1,301.56
4200 · Grant
0.00
500.00
32.10
223.04
0.00
1,306.58
4751 · wall/floor/paint
0.00
5,757.92
4752 · plumbing
0.00
5,632.41
4753 · cabinets/furniture
0.00
28,101.96
4754 · doors/windows
0.00
9,139.11
4755 · building materials
0.00
12,970.35
4756 · hardware
0.00
2,064.48
4757 · appliances
0.00
9,254.60
4758 · miscellaneous
0.00
2,085.92
4706 · Restore Interest Income
4740 · Other Income
4750 · ReStore Sales
4759 · electrical/lighting
0.00
7,045.58
-202.07
-605.40
24,728.23
229,156.79
24,526.16
310,603.72
24,558.26
313,934.90
24,558.26
313,934.90
17.12
43.87
6081 · Salaries and Wages Expense
0.00
16,397.20
6086 · Pension Expense
0.00
1,592.06
9,857.24
106,379.79
Total 8010 · Salary Expense
9,857.24
124,369.05
8128 · Advertising
1,018.67
9,003.92
4770 · Over/short
4750 · ReStore Sales - Other
Total 4750 · ReStore Sales
Total Income
Gross Profit
Expense
4760 · Returns - sales
8000 · ReStore
8010 · Salary Expense
8010 · Salary Expense - Other
13
8140 · Building Repairs & Maintanence
65.48
6,104.46
8202 · Contract labor
953.34
28,072.94
8250 · Computer Exp
19.75
1,467.50
0.00
4,037.92
17.00
207.00
8335 · food and lodging
0.00
1,110.67
8341 · Food for volunteers
0.00
304.34
8400 · Hospitality
0.00
559.80
8420 · Insurance
0.00
639.82
99.64
1,994.25
8258 · Credit card fees
8320 · Dues and membership fees
8510 · Office Supplies
8525 · Other Expenses
0.00
129.74
44.00
54.70
8550 · Printing and Reproduction
0.00
1,003.20
8615 · Rent
0.00
298.99
284.26
2,623.02
24.02
221.52
Electric
408.10
6,370.66
Internet
59.95
658.49
Natural Gas
54.98
2,220.06
Water & Sewer
175.96
1,930.74
8670 · Telephone
124.02
1,367.02
847.03
12,768.49
552.33
3,146.47
0.00
636.79
-310.00
179.55
0.00
535.92
Total 8750 · Vehicle Expense
242.33
4,498.73
8760 · Waste/Haul off
711.98
5,632.14
14,160.72
204,880.68
14,177.84
204,924.55
10,380.42
109,010.35
8540 · Postage and Delivery
8730 · Travel
8740 · Utilities
Cell Phones
Total 8740 · Utilities
8750 · Vehicle Expense
Fuel
Repairs & Maintainence
8130 · Automobile insurance
8131 · Plates & Registration
Total 8000 · ReStore
Total Expense
Net Income
14
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