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 |