THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
CONSOLIDATED STATEMENTS OF ACTIVITIES - CONTINUED
Year ended December 31, 2016 __________
Temporarily restricted
Unrestricted
Total
Public support and operating revenue: Rent revenue
$
49,839,562
$
- -
$
49,839,562
Management fees
(2,418)
(2,418)
Contributions and grants
1,435,867
120,750
1,556,617
51,273,011
120,750
51,393,761
Net assets released from restrictions
284,013
(284,013)
-
Total public support and operating revenue
51,557,024
(163,263)
51,393,761
Expenses:
Program services: Rental operations
52,280,418 3,410,347
- - - -
52,280,418 3,410,347
Acquisition and development
Asset management Operation Pathways
637,457
637,457
1,580,154
1,580,154
Supporting services: Management and general
7,987,686
- -
7,987,686
Fundraising services
109,221
109,221
Total expenses
66,005,283
-
66,005,283
Excess of (expenses over revenue) revenue over expenses before other revenue (expense)
(14,448,259)
(163,263)
(14,611,522)
Other revenue (expense): Developer fee revenue
2,186,395
- - -
2,186,395
Interest revenue Other revenue
88,642
88,642
2,655,387
2,655,387
Gain on sale of fixed assets
348
348
Other income (losses) in housing funds
(71,659)
-
(71,659)
Total other revenue (expense)
4,859,113
-
4,859,113
Excess of (expenses over revenue) revenue over expenses
(9,589,146)
(163,263)
(9,752,409)
Excess of expenses over revenue attributable to noncontrolling interests
5,552,097
-
5,552,097
Excess of revenue over expenses (expenses over revenue) attributable to the Organization
$
(4,037,049)
$
(163,263)
$
(4,200,312)
See notes to consolidated financial statements
- 7 -
Powered by FlippingBook