FINANCIALS

Current Assets:	2023	2022
Cash	$ 3,883,869	$ 4,610,330
Investments, at fair value	36,708	31,222
Receivables Interest	39,095	47,085
Current portion of notes receivable	1,136,999	1,148,828
Management fees	39,294	72,018
Due from affiliate – RHDFC	683,720	720,991
Grant receivable – City of Rochester	1,878,227	–
Current portion of mortgage receivable	18,344	17,626
Current portion of construction financing receivables	2,366,381	6,681,097
Allowance for credit losses	(25,000)	(25,000)
Funds held for others	244,423	244,423
Prepaid expenses and other assets	44,810	22,688
Total current assets	10,346,870	13,571,308
Notes receivable, net of current portion	1,058,718	58,415
Mortgage receivable, net of current portion	22,349	40,693
Construction financing receivables, net of current portion	–	–
Tax credit fund	228	295
Property and equipment, net	13,576	8,910
Operating lease right-of-use asset, net	76,559	16,660
Total assets	$ 11,518,300	$ 13,696,281
LIABILITIES AND NET ASSETS
Current liabilities:
Current portion of operating lease liability	$ 27,405	$ 16,660
Accounts payable	1,143	1,018
Management fee payable – RHDFC	2,676	–
Accrued payroll, vacation and payroll taxes	29,429	27,263
Deferred revenue	250,010	287,134
Total current liabilities	310,663	332,075
Construction financing participation loan, net of current portion	–	2,976,137
Operating lease liability, net of current portion	49,154	–
Total Liabilities	359,817	3,308,212
Net assets: Net assets without donor restrictions	7,761,968	7,080,280
Net assets with donor restrictions	3,396,515	3,307,789
Total net assets	11,158,483	10,388,069
Total liabilities and net assets	$ 11,518,300	$ 13,696,281

	2023	2022
NET ASSETS WITHOUT DONOR RESTRICTIONS
Support and revenue:
Interest income on financing and notes receivable	$ 362,016	$ 227,946
Management fee revenue	104,603	94,143
Homes sales
Proceeds from home buyer, including home buyer subsidies	1,586,300	–
Grant revenue – City of Rochester	3,598,504	–
CDFI grant revenue	500,000	500,000
Fees	229,704	57,618
Gain (loss) on investments	1,556	(1,799)
Other	58,680	12,697
Total support and revenue	6,441,363	890,605
Net assets released from donor restrictions	8,500	7,500
Total support and revenue without donor restrictions	6,449,863	898,105
Expenses: Program
Cost of homes sold	5,184,804	–
Operating	221,549	202,796
Total program	5,406,353	202,796
General and administrative	361,822	323,164
Total expenses	5,768,175	525,960
Increase in net assets without donor restrictions	681,688	372,145
NET ASSETS WITH DONOR RESTRICTIONS
Gain (loss) on investments	3,932	(4,548)
Interest income	93,294	9,289
Net assets released from donor restrictions	(8,500)	(7,500)
Increase (decrease) in net assets with donor restrictions	88,726	(2,759)
Total increase in net assets	770,414	369,386
Net assets – beginning of year	10,388,069	10,018,683
Net assets – end of year	$ 11,158,483	$ 10,388,069