Consolidated Financial Statements and Report of ...

Consolidated Financial Statements and Report of Independent Certified Public Accountants

Habitat for Humanity International, Inc.

Years ended June 30, 2017 and 2016

Habitat for Humanity International, Inc.

Table of contents

Report of Independent Certified Public Accountants

1

Consolidated financial statements:

Consolidated statements of financial position

3

Consolidated statements of activities

4

Consolidated statements of functional expenses

5

Consolidated statements of cash flows

7

Notes to consolidated financial statements

8

REPORT OF INDEPENDENT CERTIFIED PUBLIC ACCOUNTANTS

The Board of Directors Habitat for Humanity International, Inc.

Grant Thornton LLP 1100 Peachtree Street, NE, Suite 1200 Atlanta, GA 30309-4504 T 404.330.2000 F 404.330.2047

We have audited the accompanying consolidated financial statements of Habitat for Humanity International, Inc. (Habitat), which comprise the consolidated statements of financial position as of June 30, 2017 and 2016, and the related consolidated statements of activities, cash flows, and functional expenses for the years then ended and the related notes to the consolidated financial statements.

Management's Responsibility for the Financial Statements

Management is responsible for the preparation and fair presentation of these consolidated financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free of material misstatement, whether due to fraud or error.

Auditor's Responsibility

Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to Habitat's preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Habitat's internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.

Grant Thornton LLP U.S. member firm of Grant Thornton International Ltd

2

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Opinion

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of Habitat for Humanity International, Inc. as of June 30, 2017 and 2016, and the changes in their net assets and their cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America. Atlanta, Georgia November 17, 2017

Grant Thornton LLP U.S. member firm of Grant Thornton International Ltd

Habitat for Humanity International, Inc.

3

Consolidated statements of financial position

June 30

Assets Cash and cash equivalents Investments at fair value Receivables:

Contributions and grants, net Affiliate notes, net Due from affiliates, net Loans to microfinance institutions, net Institutional loans and mortgages receivable, net Other, net

Total receivables Inventories, net Prepaids and other assets Land, buildings, and equipment - net of accumulated depreciation and amortization

Total assets

Liabilities and net assets Accounts payable and accrued expenses Program advances Capitalized lease obligations payable Due to affiliates Notes payable, net of unamortized debt issuance costs Charitable gift arrangements Investor notes payable

Total liabilities Net assets: Unrestricted:

Controlling interests Noncontrolling interests

Temporarily restricted Permanently restricted

Total net assets Total liabilities and net assets

2017

2016

$ 75,566,336 $ 58,104,458

44,642,595

43,852,355

34,781,116

44,872,124

24,960,835

27,342,514

10,183,725

12,447,301

59,779,005

43,814,383

724,433

751,284

2,657,984

2,175,666

133,087,098

131,403,272

2,553,991

1,750,115

6,452,354

3,926,664

6,314,935

7,273,327

$ 268,617,309 $ 246,310,191

$ 14,110,389 $ 6,750,482 1,367,266 1,547,485

61,799,674 6,591,856

23,683,927 115,851,079

14,334,941 883,470

1,321,696 1,868,014 46,459,501 6,651,725 27,476,029 98,995,376

49,069,493

34,168,855

5,176,537

3,386,852

54,246,030

37,555,707

96,053,981

107,301,814

2,466,219

2,457,294

152,766,230

147,314,815

$ 268,617,309 $ 246,310,191

The accompanying notes are an integral part of these consolidated financial statements.

 ................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download