NHP Annual Report 2023: Dynamic Growth: Past is Prologue

Consolidated Statement of Revenues & Expenses For the Year Ended December 31, 2023

PROPERTY OPERATIONS

RESIDENT SERVICES

& MANAGEMENT

CORPORATE

ELIMINATIONS

TOTAL

REVENUES & GAINS

Rental Income

$104,027,968

— —

$(66,667) (825,924) (2,776,948)

$103,961,301

Developer Fee Income Resident Services Fee

9,827,338

9,001,414

953,279

1,166,320

937,459

280,110

Gain On Sale of Properties Contribution Income /Grants

1,467,086 1,888,636 15,345,462 2,189,949

756,482

23,894,647 4,357,087 16,074,584 1,292,296

(12,354,975) (6,245,723) (12,400,136)

13,763,240

Financial Revenue Other Revenue Interest Income

— — —

19,019,910 3,482,245

Total Revenues & Gains

$125,872,380

$1,922,802

$56,383,411

$(34,670,373)

$149,508,220

EXPENSES & LOSSES

Salaries & Benefits

$15,123,078 16,840,994 44,236,043 3,920,830 10,235,835 8,566,598 5,126,563 2,882,376 3,618,858 3,892,656 9,087,212 30,611,743 1,710,393 8,657,247

$915,086

$12,559,708

— —

$28,597,872 16,840,994 41,009,136 5,435,165 10,235,835 8,768,360 5,126,563 4,345,915

Maintenance

— —

Interest Expense

1,879,045 1,149,528

$(5,105,952)

Management & Administration

431,474

(66,667)

Utilities

— — — —

Insurance

12,566

189,196

Real Estate Taxes Professional Fees

117,484

1,346,055

Property & Asset Management Fees

— — — — — —

(1,138,477)

2,480,381 7,440,420

Bad Debt Expense Contribution Expense

3,437,307 430,946

110,457

(9,401,179) (803,468)

116,979

Depreciation & Amortization Other Financial Expenses

16,305

29,824,580

1,710,393 377,384

Other Losses (Income) In Investment

2,387,066

(10,666,929)

In Housing Funds Discontinued Operations Resident Services Fees

— —

— —

— —

952,544 2,452,154

(952,544)

Excess of Expenses Over Revenues

3,630,501

963,729

7,046,384

Total Expenses & Losses

$168,140,927

$2,440,339

$26,799,854

$(28,024,759)

$169,356,361

Excess (Deficiency) of Revenues

$(42,268,547)

$(517,537)

$29,583,557

$(6,645,614)

$(19,848,141)

Over Expenses

6 THE NHP FOUNDATION | FISCAL YEAR 2023 ANNUAL REPORT

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