AUDITED FINANCIAL STATEMENT
NHP FOUNDATION (NHPF) is audited according to standard practices in accordance with audit standards generally accepted in the United States of America. The audit for 2011 was completed by the Reznick Group and NHPF financials were found to present fairly, in all material respects, the financial position of The NHP Foundation and its affiliated entitles as of December 31, 2011 and the changes in their net assets and their cash flows for the year then ended. Beyond that solid report from our auditors, it’s important for our supporters and grant makers to understand the financial relationship between NHPF and its resident services division, Operation Pathways. As a tax-exempt charitable organization, NHPF preserves and increases America’s supply of affordable housing by operating 22 multifamily housing complexes in 12 states. Its mission is also to provide meaningful and life-affirming services to the residents of those NHPF properties, and that is accomplished through Operation Pathways. The majority of NHPF’s $33 million annual operating budget is devoted to the operation and preservation of its affordable housing properties. In fact, $1,146,310 of the total budget was devoted to Operation Pathways in 2011. Of that budget for resident services, $865,015 came from operating property rental fees. The remaining balance of $281,295 was raised through grants and other tax- deductible contributions generously made by supporters of the NHPF/Operation Pathways mission.
A COMPLETE COPY OF OUR 2011 AUDITED FINANCIALS IS AVAILABLE UPON REQUEST TO THE OFFICE OF THE CHIEF FINANCIAL OFFICER, 122 EAST 42ND STREET, NEW YORK, NY 10168, OR BY CALLING 646.336.4940.
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