Financial

Financial Statements 2013
SUPPORT & REVENUE20132012
Government$ 1,404,681$ 1,374,974
Foundations and Corporations$ 1,008,432$ 1,207,270
Other contribution revenue  $ 25,460$ 66,489
Interest and Other Income$ 550,915$ 364,467
TOTAL SUPPORT AND REVENUE$ 2,989,488$ 3,013,200
EXPENSES20132012
Program$ 2,578,244$ 2,506,220
Administrative and General$ 388,444$ 377,273
Fundraising$ 88,300$ 87,204
TOTAL EXPENSES$ 3,054,988$ 2,970,697
Change in net asset from operations$ (65,500)$ 42,503
Gain on sale of property$ 960,029 
Change in net assets$ 894,529 
Net assets, beginning of year$ 834,665$ 792,162
Net assets, end of year$ 1,729,195$ 834,665
ASSETS20132012
Cash$ 309,088$ 356,337
Grants and Other Receivables$ 390,797$ 412,685
Loans Receivable, current portion (net)$ 350,339$ 393,849
Other current assets$ 32,415$ 1,995
Restricted cash$ 115,105$122,384
Loans Receivable, non-current$ 2,027,562$ 961,919
Property and Equipment (net)$ 1,361,983$ 465,204
TOTAL ASSETS$ 4,587,290$ 2,714,373
The financial statements reflect unaudited numbers.
SUPPORT & REVENUE20132012
Government47%46%
Foundations and corporate34%40%
Other contribution revenue1%2%
Interest and other income18%12%
EXPENSES20132012
Administrative Expenses13%13%
Fundraising3%2%
Program Expenses84%84%
•   Small Business Development 22%23%
•   Homeownership Counseling33%36%
•   Affordable Housing Preservation18%13%
•   Lending Department28%27%
SUPPORT & REVENUE 2013
EXPENSES 2013
 
Liabilities and Net Assets20132012
Accounts payable and accrued expenses$ 277,626$ 247,464
Obligations under capital lease, current portion$ 5,821$ 41,290
Obligations under capital lease, non-current$ 125,465$ 78,130
Notes payable and lines of credit, current portion$172,326$ 415,870
Notes payable, non current$ 2,265,573$928,462
Deferred rent $ 11,700
Deferred revenue and refundable advance$ 11,283$ 156,792
TOTAL LIABILITIES$ 4,587,290$ 1,879,708
NET ASSETS$ 1,729,195$ 834,665
TOTAL LIABILITIES AND NET ASSETS$ 4,587,290$ 2,714,373