THE NHP FOUNDATION AND ITS AFFILIATED ENTITIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 31, 2017 and 2016 __________
Unrestricted net assets -
o Unrestricted net assets - controlling - represent expendable resources that are used to carry out the operations of the Organization and are not subject to donor-imposed stipulations. o Unrestricted net assets - non-controlling - represent the aggregate balance as of December 31, 2017 and 2016 of limited partner/member equity interest in the non- wholly-owned affordable housing entities that are included in the consolidated financial statements. The majority of non-controlling unrestricted net assets consists of the limited partner interests in tax credit holdings. Temporarily restricted net assets - resources which contain donor-imposed restrictions that are satisfied either by the passage of time or by actions of the Organization. Contributions received and expended within the same year are recorded as temporarily restricted net assets and reclassified to unrestricted net assets when the restriction expires. Permanently restricted net assets - resources which contain donor-imposed stipulations requiring that the corpus be maintained permanently, but permit the Organization to expend all of the income from the corpus for general or specific purposes. The Organization had no permanently restricted net assets as of December 31, 2017 and 2016. Cash and Cash Equivalents For purposes of the statement of cash flows, the Organization considers all investments with original maturities of three months or less to be cash equivalents. Restricted Cash Restricted cash consists of cash required to be segregated as specified in certain grant and loan documents. Prepaid Expenses and Other Assets Prepaid expenses and other assets consist primarily of prepaid costs, tenant account receivables and subsidy receivables. Tenant accounts receivables are reported net of an allowance for doubtful accounts or are charged to bad debt expense when they are determined to be uncollectible based upon a periodic review of the accounts by management. Management’s estimate of the allowance is based on historical collection experience and a review of the status of tenant accounts receivables. It is reasonably possible that management’s estimate of the allowance will change.
Debt Issuance Costs
- 17 -
Powered by FlippingBook