OP 2012: Annual Report: Making Lives Better

Audited Financial Statement

NHP FOUNDATION is audited according to standard practices in accordance with audit standards generally accepted in the United States of America. The audit for 2012 was completed by the CohnReznick Group and were found to present fairly, in all material respects, the financial position of The NHP Foundation and its affiliated entitles as of December 31, 2012 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 24 multifamily housing complexes in 12 states. Its mission is also able 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 $35 million annual operating budget is devoted to the operation and preservation of its affordable housing properties. In fact, only $1,180,487 of the total budget was devoted to Operation Pathways in 2012. Of that budget for resident services, $723,723 came from operating property fees and real estate transactions. The balance of $456,764 was raised through grants and other tax-deductible contributions generously made by supporters of the NHPF/Operation Pathways mission.

A COMPLETE COPY OF OUR 2012 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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