2021 UnAudited

Financials

Unaudited 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