THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED YEARS ENDED DECEMBER 31, 2018 and 2017
STATEMENT OF OPERATIONS
2018
2017
Revenue
Rent revenue
$
3,205,484
$
2,656,770
Asset management fees
389,141
195,527
Interest revenue
6,822
94,024
Other revenue
32,479
1,089,257
Total revenue
3,633,926
4,035,578
Operating expenses Legal expense
13,902 22,500
33,179
Other professional fees
115,200
Travel
-
15,346
Office expenses
833,066
1,299,920 3,572,071
Miscellaneous operating expenses
4,430,957
Total operating expenses
5,300,425
5,035,716
Net loss before equity in losses
(1,666,499)
(1,000,138)
Equity in losses
-
-
Net loss
$
(1,666,499)
$
(1,000,138)
NHPF share of net income (loss)
$
388,834
$
323
Other members' share of net (loss) income
$
(2,055,333)
$
(1,000,461)
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