THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED YEARS ENDED DECEMBER 31, 2019 and 2018
NOTE 7 - INVESTMENTS IN OPERATING ENTITIES As of December 31, 2019 and 2018, NHPF and its affiliates have investments in operating entities that it accounts for under the cost or equity method. These investments are summarized in the table below:
Date of Initial Investment
Accounting Method
Operating Entity
12/31/2019
12/31/2018
Housing Partnership Equity Trust, LLC NHPF-Shore Hill Investor, LLC NHPF-Shore Hill Manager, LLC NHPF-Harbor Hill Manager, LLC NHPF-Sunset Gardens Manager, LLC
Various
Cost Cost Cost Cost Cost
$
172,209
$
184,030
2018 2018 2019 2019
1,506,320
1,515,320
2,520
2,530
153,705
- -
54,612
1,889,366
1,701,880
Total cost method investments
CHA LLC
2016 2011 2015 2016 2017 2016
Equity Equity Equity Equity Equity Equity
$
(36)
(36)
Cherry Estates Eagles Landing NHPF/UA, LLC NHPF/UA II, LLC NHPF / WFH, LLC
1,601
1,821
37,957
44,339
(36,717)
627,685
(1,257,543)
33,585
(344,873)
(32,500) 674,894
Total equity method investments
(1,599,611)
$
289,755
$
2,376,774
Total cost and equity method investments
The combined equity investments as of and for the years ended December 31, 2019 and 2018 are summarized below:
Investments in operating entities at January 1, 2018
$
(39,812)
Capital contributions paid
381,550
Distributions received
(55,678)
Equity in income of Operating Entities
388,834
Investments in operating entities at December 31, 2018
$
674,894
Deficit transferred in Distributions received
(2,113,805)
(290,333)
Equity in losses of operating entities
129,633
Investments in operating entities at December 31, 2019
$
(1,599,611)
The combined summary financial information of the equity investments as of December 31, 2019 and 2018 and for the years then ended, are as follows:
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