2021 UnAudited
FinancialsUnaudited Financial Statements
for December 31, 2021
Balance Sheet
| ASSETS | |||
| Cash | |||
| Operating | $ 2,669,019 | ||
| Restricted | $ 307,644 | ||
| Subtotal | $ 2,976,664 | ||
| Accounts Receivable | |||
| Revolving Loan Fund | $ 4,538,729 | ||
| Other | $ 419,111 | ||
| Subtotal | $ 4,957,840 | ||
| Construction in Process | $ 868,115 | ||
| Property & Equipment | |||
| Office Equipment | $ 269,598 | ||
| Leasehold | $ 182,426 | ||
| Improvements | |||
| Land | $ 1,984,771 | ||
| Buildings & Appliances | $15,084,001 | ||
| Vehicles | $ 66,687 | ||
| Accumulated Depreciation | $(6,473,615) | ||
| Accumulated Amortization | $ (34,311) | ||
| Other | $ 1,935,273 | ||
| Subtotal | $ 13,882,945 | ||
| TOTAL ASSETS | $ 21,817,449 | ||
| Liabilities | |||
| Accounts Payable | $ 79,138 | ||
| Other Liabilities | $ 1,087,675 | ||
| Notes & Mortgages Payable | $ 6,935,139 | ||
| TOTAL LIABILITIES | $ 8,101,952 | ||
| Net Assets | $13,715,497 | ||
| TOTAL LIABILITIES & NET ASSETS | $21,817,449 | ||
Income Statement
| REVENUE | |||
| Asset & Property Management | $1,201,536 | ||
| Rental Property | $1,459,658 | ||
| Development Fees Income | $ 377,902 | ||
| Donations | $ 481,293 | ||
| Grant income – operating | $ 293,352 | ||
| Grant income – program | $1,928,103 | ||
| HOC & Homeland Programs | $ 63,416 | ||
| Interest | $ 12,135 | ||
| Miscellaneous Income/Debt forgiveness | $ 266,920 | ||
| Total Revenue | $ 6,084,315 | ||
| EXPENSES | |||
| Salaries | $1,726,061 | ||
| Fringe & Benefits | $ 303,644 | ||
| Management & General Admin | $ 455,719 | ||
| Rental Property Management | $ 547,920 | ||
| Property Operations | $1,213,243 | ||
| Real Estate Development | $ 182,065 | ||
| Fundraising | $ 5,494 | ||
| HOC Program | $ 416,968 | ||
| Total Expenses | $4,851,115 | ||
| NET INCOME | $1,233,200 | ||
| Depreciation | $ 566,178 | ||
| Deferred Interest Expense | $ 36,433 | ||
| Net income after Deprec & Deferred Interest | $ 630,589 | ||