THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
CONSOLIDATED STATEMENTS OF ACTIVITIES
Year ended December 31, 2018 ___________
Without donor restrictions
With donor restrictions
Total
Public support and operating revenue: Rent revenue
$
64,445,631 6,347,638 1,015,302
$
- -
$
64,445,631 6,347,638 1,034,422
Developer fee revenue Contributions and grants
19,120
Management fees
560,603 388,834 912,088
- - - -
560,603 388,834 912,088
Other income (losses) in housing funds
Interest revenue Other revenue
2,345,573
2,345,573
Total public support and operating revenue
76,015,669
19,120
76,034,789
Net assets released from restrictions
26,692
(26,692)
-
Total public support and operating revenue
76,042,361
(7,572)
76,034,789
Expenses: Program services:
Rental operations
69,984,915 4,370,628
- - - -
69,984,915 4,370,628
Acquisition and development
Asset management Operation Pathways
977,713
977,713
1,198,043
1,198,043
Supporting services: Management and general
12,063,724
- -
12,063,724
Fundraising services
562,063
562,063
Total expenses
89,157,086
-
89,157,086
Excess of revenue over expenses (expenses over revenue) before other revenue (expense)
(13,114,725)
(7,572)
(13,122,297)
Other revenue (expense): Gain (loss) on sale of properties
486,205
-
486,205
Total other revenue (expense)
486,205
-
486,205
Excess of revenue over expenses (expenses over revenue)
(12,628,520)
(7,572)
(12,636,092)
Excess of expenses over revenue attributable to noncontrolling interests
9,558,861
-
9,558,861
Excess of revenue over expenses (expenses over revenue) attributable to the Organization
$
(3,069,659)
$
(7,572)
$
(3,077,231)
See notes to consolidated financial statements
6
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