THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED YEARS ENDED DECEMBER 31, 2019 and 2018
STATEMENT OF OPERATIONS
2019
2018
Revenue
Rent revenue
$
3,390,162
$
3,205,484
Asset management fees
76,558 14,345 240,617
389,141
Interest revenue
6,822
Other revenue
32,479
Total revenue
3,721,682
3,633,926
Operating expenses Legal expense
37,279 13,960 667,297
13,902 22,500 833,066
Other professional fees
Office expenses
Miscellaneous operating expenses
3,619,468
4,430,957
Total operating expenses
4,338,004
5,300,425
Net loss before equity in losses
(616,322)
(1,666,499)
Equity in losses
-
-
Net loss
$
(616,322)
$
(1,666,499)
NHPF share of net income (loss)
$
129,633
$
388,834
Other members' share of net (loss) income
$
(745,955)
$
(2,055,333)
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