2022 Draft
FinancialsFinancial Statements
for December 31, 2022
Balance Sheet
ASSETS | |||
Cash | |||
Operating | $ 2,642,537 | ||
Restricted | $ 875,728 | ||
Subtotal | $ 3,518,265 | ||
Accounts Receivable | |||
Revolving Loan Fund Notes, net | $ 4,255,298 | ||
Other Receivables, net | $ 767,767 | ||
Subtotal | $ 5,023,064 | ||
Construction in Process | $ 2,332,732 | ||
Property & Equipment | |||
Office Equipment | $ 275,637 | ||
Leasehold Improvements | $ 182,426 | ||
Land | $ 1,984,771 | ||
Rental Buildings & Improvements | $15,657,572 | ||
Vehicles | $ 77,124 | ||
Accumulated Depreciation | $(6,948,392) | ||
Accumulated Amortization | $ (42,508) | ||
Subtotal | $13,519,362 | ||
Noncurrent Assets | |||
Property Investments | $ 2,675,846 | ||
Right of Use Asset – Capital Leases, net | $ 691,140 | ||
Subtotal | $ 3,366,986 | ||
TOTAL ASSETS | $25,427,677 | ||
Liabilities | |||
Accounts Payable | $ 79,150 | ||
Accrued Expenses | $ 334,234 | ||
Other Liabilities | $ 982,056 | ||
Notes & Mortgages Payable | $ 7,570,058 | ||
Lease Liability – Capital Leases | $ 774,158 | ||
TOTAL LIABILITIES | $ 9,739,656 | ||
Net Assets | $15,688,021 | ||
TOTAL LIABILITIES & NET ASSETS |
$25,427,677 |
Income Statement
REVENUE | |||
Asset & Property Management | $1,288,662 | ||
Rental Property | $1,439,631 | ||
Development Fees Income | $ 281,695 | ||
Donations | $ 431,379 | ||
Grant income | $3,227,342 | ||
HOC & Homeland Fees | $ 71,347 | ||
Interest | $ 9,632 | ||
Miscellaneous Income/Debt forgiveness | $ 244,642 | ||
Total Revenue | $6,994,330 | ||
EXPENSES | |||
Salaries | $1,769,082 | ||
Fringe & Benefits | $ 305,487 | ||
Management & General Admin | $ 158,753 | ||
Rental Property Management | $ 812,077 | ||
Property Operations | $1,315,378 | ||
Real Estate Development | $ 131,223 | ||
Fundraising | $ 23,780 | ||
HOC Program | $ 350,769 | ||
Total Expenses | $4,898,572 | ||
NET INCOME | $2,095,759 | ||
Depreciation | $ 637,629 | ||
Deferred Interest Expense | $ 36,872 | ||
Net income after Deprec & Deferred Interest | $1,421,257 |