THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 2017 and 2016 __________
Harvest Homes GP, LLC (Harvest Homes GP) Hollybush GP, Inc. (Hollybush GP) Jamestown Affordable Housing, Inc. (Jamestown) NDFD LLC (NDFD) NDFD II (NDFD II) NHPF/WFH, LLC (NHPF/WFH) NHPF-Columbia Heights Manager, LLC (Columbia Heights Manager GP) NHPF Eagles Landing GP, LLC Nannie Helen NHPF, LLC (Nannie Helen GP) Orange GP, Inc. (Orange GP) Pepper Tree Manor 250 GP, LLC (Pepper Tree GP) Plaza Borinquen 88 GP Corporation (Plaza B GP) Preservation Housing Partners, LLC (Preservation Partners) Ships Cove GP, LLC (Ships Cove GP) St. Luke’s GP, Inc. (St. Luke’s GP) Takoma Place GP, Inc. (Takoma GP) VOV-NHPF I, LLC (VOV-NHPF I) Wade Road GP LLC (Wade Road GP) Walnut 209, LLC (Walnut 209) Walnut Affordable Housing, Inc. (Walnut) Workforce Housing, I, LLC (Workforce I Housing, LLC)
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation
NHPF has significant control over the major decisions affecting the affiliated entities. Accordingly, the affiliated entities have been consolidated in accordance with accounting guidance for consolidation. The Organization has determined that the presumption of control for the entities in which NHPF and/or its affiliated entities are the general partner or managing member had not been overcome and as a result NHPF and/or its affiliated entities are required to consolidate the financial statements of those entities. All significant intercompany accounts and transactions have been eliminated in the consolidation process. Distributable cash flows from certain affiliated entities to NHPF and Interstate are restricted by covenants in the underlying mortgages or grants received by the affiliated entities. Contributions paid by the affiliated entities and received by NHPF and Interstate are eliminated in consolidation. In accordance with accounting guidance for nonprofit organizations, NHPF and its nonprofit affiliated entities are required to report information regarding its financial position and activities according to three net asset categories - unrestricted, temporarily restricted and permanently restricted - according to externally (donor) imposed restrictions. A description of these net asset categories follows:
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