THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
CONSOLIDATED STATEMENTS OF ACTIVITIES
Year ended December 31, 2017 __________
Temporarily restricted
Unrestricted
Total
Public support and operating revenue: Rent revenue
$
53,381,677
$
- -
$
53,381,677
Management fees
48,425
48,425
Contributions and grants
3,457,202
139,068
3,596,270
56,887,304
139,068
57,026,372
Net assets released from restrictions
216,872
(216,872)
-
Total public support and operating revenue
57,104,176
(77,804)
57,026,372
Expenses:
Program services:
Rental operations
61,357,925 3,540,391
- - - -
61,357,925 3,540,391
Acquisition and development
Asset management Operation Pathways
731,016
731,016
1,384,460
1,384,460
Supporting services:
Management and general
12,326,585
- -
12,326,585
Fundraising services
307,137
307,137
Total expenses
79,647,514
-
79,647,514
Excess of expenses over revenue before other revenue (expense)
(22,543,338)
(77,804)
(22,621,142)
Other revenue (expense): Developer fee revenue
3,908,485
- - - - -
3,908,485
Interest revenue Other revenue
388,617
388,617
2,631,250 40,264,074
2,631,250 40,264,074
Gain on sale of fixed assets
Other income (losses) in housing funds
323
323
Total other revenue (expense)
47,192,749
-
47,192,749
Excess of revenue over expenses (expenses over revenue)
24,649,411
(77,804)
24,571,607
Excess of expenses over revenue attributable to noncontrolling interests
7,252,979
-
7,252,979
Excess of revenue over expenses (expenses over revenue) attributable to the Organization
$
31,902,390
$
(77,804)
$
31,824,586
(continued)
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