Staunton-Augusta-Waynesboro Habitat for Humanity Board of Directors AGENDA August 28, 2018 at 6pm Chair: Jennie Hill

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1 Staunton-Augusta-Waynesboro Habitat for Humanity Board of Directors AGENDA August 28, 2018 at 6pm Chair: Jennie Hill Open Meeting Reports: A. June and July Minutes B. Financials C. Committee Reports Old Business: A. Nominating Committee B. ReStore Update C. Updates to delinquency policy New Business: A. Board Member B. Family Partnership Nominations C. Request for Disbursement of Reserves Other Discussion: A. Report on New 3-Year Strategy Work Close Meeting

2 Staunton-Augusta-Waynesboro Habitat for Humanity Board of Director MINUTES June 26, 2018 at 6pm Chair: Jennie Hill Action Item 1: FY19 Budget Approved Action Item 2: Approval to offer 40 45k for property on West Johnson Action Item 3: Approval to take back 2 mortgages from VHDA with escrow only payments for 1 year. Attended by: Jennie Hill, President, Charles Frankfort, Past President, Alan Biskey, Secretary, Laurie Thompson, Treasurer, Salome Baugher, Lou Ella Hill, Andy Beasley, Pamela Patrick Not present: Pastor Dennis Russell, Rev. Rod Ronneberg Minutes: Meeting opened at 6pm, minutes approved, financials approved. New homeowner (closed on 7/31/18): at the request of the family member they would like it to be a little more intimate with no reporters, board, volunteers, staff. Family Partnership: 6 families in the program, four are currently in the application process. Construction: Siding is scheduled to go up for 126 and 130 Stafford. Outreach: Currently housing the Presbyterian group from DC. ReStore: May was another record month for sales. Letter was sent to party interested in purchasing property at Kirby and C in Waynesboro, letter stated that we are not interested in selling the property at this time. No further information regarding HFHI s request for information about issues of Conflict of Interest. They have been sent all policy documents and it has been made clear to them that there is no conflict of interest regarding employees applying for a Habitat house. ReStore expansions of retail space is awaiting input from an engineer regarding new openings in the concrete wall. The landlord has agreed to a flat rental rate 30,000 annual. We have been giving him 32,000 in tax credits and another 6000 for a small section of the building. This reduces our expenditures by at least 8000 annually. This will reflect on our expenses (account Occupancy: ReStore Rent and Occupancy: Affiliate Rent) as opposed to years past. This is why there is a significant increase in the Occupancy category on the FY19 budget.

3 Our tithe to HFHI is just $500 because of the timing of closings. Next year we expect it to be over 12,000 due to closings. During budget discussions on wages the board went into executive session. Board came out of executive session and a question was asked about whether wages in the ReStore would go up if there is expanded retail space. The answer from Bill M (ReStore Manager) is little if any. Board went back into executive session. Board came out of executive session. Lance explained the new financial reporting format to reflect direct and indirect expenses and income such as NAP, NSP, mortgage closings, mortgage income, CHR income, etc. The goal of the affiliate is to break even, while the ReStore is to always make a profit to support affordable housing. Construction can run a deficit at the discretion of the board as it is our primary mission. Future builds will have a strategic budget analysis before construction. Motion to approve FY19 budget was made by Charlie F, seconded by Pamela P, unanimous. Executive session entered to discuss real estate purchase opportunity. Returned from executive session with unanimous approval in response to Construction Committee recommendation to offer 35 40k for property on West Johnson. Nominating committee has been activated to interview two board candidates. A request was made to take back two mortgages from VHDA for restructuring. Board agreed to restructure at escrow only for 1 year, adding 1 year to mortgage maturity. Board agreed to make the annual tithe as unrestricted instructing HFHI to use it where it is most needed.

4 Staunton-Augusta-Waynesboro Habitat for Humanity Board of Director MINUTES July 24, 2018 at 6pm Chair: Jennie Hill Action Item 1: Sexual Harassment Policy Accepted Action Item 2: Revised Investment Policy Accepted Action Item 3: 2-year engagement with Didawick & Co. Action Item 4: Amendments to current Mortgage Delinquency Policy Attended by: Jennie Hill, Chair, Charles Frankfort, Vice Chair, Alan Biskey, Secretary, Laurie Hamilton, Treasurer, Pamela Patrick, Pastor Dennis Russell, Andy Beasley. Not present: Rev. Rod Ronneberg, Salome Baugher, Lou Ella Hill. Minutes: Opened in prayer. Interns gave a report on interviews with 27 homeowners. Board minutes to be evaluated in August. Financial report is accepted as presented, accepted. Construction: West Johnson property offer was not accepted. Family Partnership: 6 families in the program, 3 are up for vote. Financial: new financial layout for FY19 and procedures are full accrual. Outreach: many groups lined up including a Women s Touch, Ball Corporation, and Gloucester group. ReStore: another record month. Motion for approval of revised Sexual Harassment Policy as presented: Jennie H, motion, Charlie F, second, unanimous. Motion for approval of revised Investment Policy to allow investments outside of no risk restrictions. Motion Charlie F, second by Pamela P, unanimously passed. 2-year engagement with Didawick & Co. approved by consensus. Recommendation by Executive Committee to align mortgage handling procedures by SAWHFH with VHDA. Changes to current Delinquency Policy: at least annual communication to homeowners of their current state. Motion by Pamela P, second by Charlie F, unanimous. Family partnership vote: : Vote is 6 to 1 for approval. Dissenting vote is don t see adequate need : Vote is 6 to 1 for approval. Dissenting vote is concerns about applicant s answer regarding housing subsidy : Board requested that it be returned to Family Partnership for more information. The family is 1 adult and 2 children aged 17. Vote at night is 4 for and 3 against. Follow-up vote after further information is 5 for, 3 against, 2 abstain. Vote passes on accepting this Family Partner. Board self-evaluations are due by August 10. Meeting closed at 9 pm.

5 Report Date: YTD%: 8/21/ Income YTD FY19 % FY19 Budget 4101 CONTRIBUTIONS $ 14, % $ 255, RESTORE SALES $ 42, % $ 350, OTHER INCOME $ 8, % $ 37,000 Expense Sub-total Income $ 65, % $ 642, ADMIN SUPPLIES $ % $ 5, BUSINESS EXPENSES $ 1, % $ 31, INSURANCE $ 5, % $ 17, FUNDRAISING EXPENSES $ % $ 41, OCCUPANCY $ 1, % $ 52, PROFESSIONAL DEVELOPMENT $ - 0.0% $ 14, PROGRAM DIRECT EXPENSES $ 11, % $ 29, RESTORE DIRECT EXPENSES $ 2, % $ 50, SALARIES & BENEFITS Affiliate Wages $ 43, % $ 275, ReStore Wages $ 26, % $ 150, /4 Employee Liabilities $ 5, % $ 36, TECHNOLOGY $ 1, % $ 8, VEHICLE EXPENSE $ 1, % $ 15, VHDA LOAN Interest $ % $ 5,000 Sub-total Expenses $ 103, % $ 731, Difference $ (38,319.83) -4% $ (89,250.00) 1804 Mortgages Receivables $ 9, % $ 97, CHR Payments $ 1, % $ 8, Indirect Income: NSP/3rd Party Mortgages $ - 0.0% $ 200, Total Indirect Income $ 11, % $ 305, Indirect Expense: Building Loan $ 1, % $ 24, Indirect Expense: Property Loan $ % $ 6, Indirect Expense: Construction & Land Purchase $ 20, % $ 185, Total Indirect Expenses $ 23, % $ 215, Indirect Difference $ (12,042.52) -7% $ 89, Total Income $ 76, % $ 947, Total Expenses $ 126, % $ 946, Net Difference $ (50,362.35) $ CIP: Stafford St CIP* $ 96, % $ 105, CIP: Stafford St. CIP* $ 58, % $ 95, CIP: Stafford St. CIP* $ 67, % $ 95, CIP: B Street CIP* $ 117, % $ 115, Construction In Kind $ 18, % $ 45, ReStore Profit/(loss) $ 4, % $ 67, Bank Accounts $ 23, Reserves $ 195, Loan Delinquency Rate In House Mortgages 40% Critical Home Repairs 36% VHDA 13% *These are project budgets, not annual budgets.

6 Resume of 2018 Board of Directors Charles Frankfort, current Vice President; retired attorney and judge; 10-year history with Habitat; served as president twice and active on Executive, Construction, Nominating & Restore committee. Good attendance and participation at meetings and in committee. Louella Hill, newest member of Board in 2018 and resident of Staunton in our current area of revitalization. Very active in community with 2 other non-profits and self- employed. She mentored our summer interns and their projects as her committee work. Good attendance. Laurie Thompson, currently first year member & Treasurer; on finance, Restore and executive committee; self-employed businesswoman with history of community volunteerism. She has donated space in her store to sell high-end Restore products to support fundraising goals. Good attendance in meetings, committees and events. Alan Biskey, current Secretary; retired Military; 5-year history with Habitat and executive & Outreach (volunteer) committee. Donates 10 hours/ week on construction site. Good attendance in meetings, committees and events. Jennie Hill, current President; retired Nurse and 3-year history with Habitat and board member. Served as Project Manager for Women s Touch in 2016, and Gala Chair for 3 years. Donates 8 hours/week to supplementing/assisting staff or Restore; active on construction & executive committees. She has updated P&P and Safety Manual. She hosted Retreat & housed one intern, given tours/lunch to new Board members & guests. Good attendance in meetings, committees and events.

7 Rod Ronneberg, current Lutheran Minister with 5-year history on Board. Strong ties to community and compassion for those with inadequate housing. No committee. Good advocate for HFH goals. Andy Beasley, current factory supervisor with strong construction and rental knowledge. 2-year history on Board despite conflicts with work and education. Good attendance to meetings and Construction committee. Strong advocate and generous donor to Habitat Mission. Pamela Patrick, retired nurse with 2-year history on Board. Active in community, provided food and meals to event & site, strong skills for policy and procedure. Organized the Garden Club to assume upkeep for a community garden; nominating committee. Good attendance at meetings and events. Salome Baugher is a social worker with a 20-year history with Habitat; on construction committee; good attendance to meetings.

8 SAW Accomplishments for 2018 Board shift to Governing Body that has improved ability to fulfill mission by: Having a HFHI Assessment & response of Strengths & Weaknesses Hiring Interns to Survey Partner Families and create Mortgage Data Base Making Policy & Procedure current & aligned with HFHI Updating harassment, delinquency, Updating Safety policy and training; appointing a safety officer Creating a Succession Plan Removing inappropriate Board members Reconciling old fiscal year & prepare for audit Convert to Accrual system for 2019 Preside over most successful GALA and record ReStore sales in 2018 Preside over ambitious 3-4 house build (110, 126, 130 & 520 B) Ambitious 3 house per year goal + Hopewood plans

9 SAW Board Goals for 2019 Continue to educate and hone Board Skills for better decisions & participation Become a more cohesive body Develop responsibilities for each Board position Realize more of our potential as individuals, board and affiliate Utilize our position as advocates and fundraisers Refine and implement Policy as indicated Create a realistic/ attainable 3-5 year Strategy that includes budgets, investments, land bank and sustainable goals Improve community relations through education/ participation Reach more families with children to serve Involve more youth Develop Hopewood with diversity for partner families Increase Donations; do more Fundraising Open second Restore

10 Applicants to consider for Partnership: August 2018 Partner Recommended for Approval: Recommendation Confidence: 10/10 Household Composition: 2 adults, 1 child <1-year old male Current Monthly Gross Income: $3,483 Two income streams, single-earner AMI Percentage: 72% Current Housing Percentage: 14% Credit Score Avg: 672 Current Monthly Debt: $365 Total Collections Debt: $40 1 Medical Current Max Monthly Mortgage: $1045 Bankruptcy? No Criminal History? No Sexual Offender Registry? No NOTES & SPECIFIC RECOMMENDATIONS: If Approved If NOT Approved Total number of families 9 8 Number of families with children 7 6 % of Families with children 78% 75% Total number of children Average number of children/family Average AMI of all families (30%-80%) 55% 53%

STAUNTON-AUGUSTA-WAYNESBORO HABITAT FOR HUMANITY, INC. AUDITED FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2015

STAUNTON-AUGUSTA-WAYNESBORO HABITAT FOR HUMANITY, INC. AUDITED FINANCIAL STATEMENTS YEAR ENDED JUNE 30, 2015 BOARD OF DIRECTORS Fred Grunder Sue Burkholder Salome Baugher Frank Fletcher Alan Biskey Charles