| ASSETS |
|
| Current Assets |
|
| Cash and Equivalents |
$ 781,430 |
Temporarily Restricted
Cash |
5,124,799 |
| Accounts Receivable |
5,567,591 |
| Contributions Receivable |
2,155,598 |
| Prepaid Expenses |
65,289 |
|
| Total Current Assets |
$13,694,707 |
|
| OTHER ASSETS |
|
|
Accounts Receivable—
Long Term |
1,142,394 |
|
Contributions Receivable
(Net of Current Portion) |
1,906,426 |
|
Notes Receivable |
19,373,530 |
|
Interest Receivable |
1,069,059 |
|
Property and Equipment, Net |
1,539,942 |
|
Investments in Partnerships |
1,016,491 |
|
Investments Held for
Funding of Deferred
Compensation Obligations |
98,150 |
|
Investments Held
for Endowment
Restricted by Donors |
1,620,857 |
|
Accumulated Earnings |
(113,980) |
|
|
Total Other Assets |
27,652,869 |
|
|
Total Assets |
$ 41,347,576 |
|
| LIABILITIES |
|
| Current Liabilities |
|
Current Portion of
Notes Payable |
$ 146,405 |
Current Portion of
Capital Lease Obligation |
22,650 |
| Lines of Credit |
3,410,000 |
| Accounts Payable |
795,028 |
| Accrued Expenses |
953,895 |
| Accrued Interest |
12,660 |
|
| Total Current Liabilities |
5,340,638 |
|
| Long-Term Liabilities |
|
| Accrued Interest |
611,918 |
|
Deferred Compensation Obligation |
98,150 |
|
Notes Payable
(Net of Current Portion) |
2,759,203 |
|
Capital Lease
(Net ofCurrent Portion) |
54,360 |
| Deferred Gains |
16,024,715 |
| Deferred Grants |
849,500 |
|
| Total Long-Term Liabilities |
20,397,846 |
|
| Total Liabilities |
$25,738,484 |
|
| NET ASSETS |
|
| Unrestricted |
|
| Undesignated |
4,081,941 |
| Designated-Housing Investment Fund |
4,295,794 |
|
| Unrestricted Net Assets |
8,377,735 |
|
| Temporarily Restricted |
4,964,970 |
| Permanently Restricted |
2,266,387 |
|
| Total Net Assets |
15,609,092 |
|
|
Total Liabilities and Net Assets |
41,347,576 |
| |
| REVENUE FROM OPERATIONS |
|
| Contributions |
$ 2,788,269 |
| In-Kind Contributions |
1,029,020 |
|
| Total Contributions |
3,817,289 |
Fees for Services |
|
| Property Management |
4,618,536 |
| Housing Development |
2,210,074 |
| Advantage Services |
937,098 |
| Advantage Services-Government Grants |
816,143 |
| Other Fees |
328,816 |
|
| Total Fees |
8,910,667 |
Investment Income |
482,118 |
| Miscellaneous |
820,061 |
|
| Total Revenue |
14,030,135 |
| EXPENSES FROM OPERATIONS |
|
| Property Management |
5,131,749 |
| Housing Development |
1,293,699 |
| Advantage Services |
3,259,195 |
| In-Kind Materials and Services |
1,029,020 |
| Community Ownership |
68,000 |
| General & Administrative |
804,811 |
| Fund Development |
1,458,466 |
|
| Total Expenses from Operations |
13,044,940 |
|
| Change in Net Assets Before Other Income and Expenses |
985,195 |
|
Other Income and (Expenses)
Realized and Unrealized Gains on Investments |
(272,221) |
| Gains from Partnerships |
7,888 |
|
| Total Other |
(264,333) |
| CHANGE IN NET ASSETS |
$720,862 |
| |
