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Habitat for Humanity urges continuation of nonprofit tax exemption and clearer reporting for low‑income homeownership developers
Summary
Habitat for Humanity of Washington State told the commission the tax exemption for nonprofit homeownership developers supports affiliate sustainability, but inconsistent financial reporting (Form 990) and COVID impacts obscure year-to-year measures of homeownership outputs.
Michonne Preston, chief executive officer of Habitat for Humanity of Washington State, told the Citizens Commission that the state tax exemption for low‑income homeownership developers has advanced Habitat’s mission and helped sustain affiliates, but that financial reporting inconsistencies limit the ability to measure outcomes precisely.
Preston, representing 25 Washington-based Habitat affiliates (21 of which participated in the tax preference), said the nonprofit found audited financial data and IRS Form 990 filings were not reported consistently across affiliates. She told the commission this made it difficult to compare “homeownership dollars spent” with revenue in a given fiscal year and therefore complicated assessment…
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