FINANCIALS

Current Assets:	2024	2023
Cash	$ 3,375,926	$ 3,883,869
Investments, at fair value	42,066	36,708
Receivables Interest	68,398	39,095
Current portion of notes receivable	1,064,169	1,136,999
Management fees	25,105	39,294
Due from affiliate – RHDFC	918,720	683,720
Grant receivable – City of Rochester	547,745	1,878,227
Current portion of mortgage receivable	19,092	18,344
Current portion of construction financing receivables	4,620,826	2,366,381
Allowance for credit losses	(25,000)	(25,000)
Funds held for others	–	244,423
Prepaid expenses and other assets	26,363	44,810
Total current assets	10,683,410	10,346,870
Notes receivable, net of current portion	1,140,801	1,058,718
Mortgage receivable, net of current portion	3,257	22,349
Construction financing receivables, net of current portion	–	–
Tax credit fund	119	228
Property and equipment, net	16,116	13,576
Operating lease right-of-use asset, net	49,154	76,559
Total assets	$ 11,892,857	$ 11,518,300
LIABILITIES AND NET ASSETS
Current liabilities:
Current portion of operating lease liability	$ 28,952	$ 27,405
Accounts payable	2,650	1,143
Management fee payable – RHDFC	801	2,676
Accrued payroll, vacation and payroll taxes	35,960	29,429
Deferred revenue	189,013	250,010
Total current liabilities	257,376	310,663
Notes payable	357,511	–
Operating lease liability, net of current portion	20,202	49,154
Total Liabilities	635,089	359,817
Net assets: Net assets without donor restrictions	7,786,502	7,761,968
Net assets with donor restrictions	3,471,266	3,396,515
Total net assets	11,257,768	11,158,483

	2024	2023
NET ASSETS WITHOUT DONOR RESTRICTIONS
Support and revenue:
Interest income on financing and notes receivable	$ 331,177	$ 362,016
Management fee revenue	91,492	104,603
Homes sales
Proceeds from home buyer, including home buyer subsidies	688,192	1,586,300
Grant revenue – City of Rochester	1,748,362	3,598,504
CDFI grant revenue		500,000
Fees	152,557	229,704
Gain (loss) on investments	1,520	1,556
Other	126,831	58,680
Total support and revenue	3,140,131	6,441,363
Net assets released from donor restrictions	10,000	8,500
Total support and revenue without donor restrictions	3,150,131	6,449,863
Expenses: Program
Cost of homes sold	2,436,554	5,184,804
Operating	269,268	221,549
Total program	2,705,822	5,406,353
General and administrative	419,775	361,822
Total expenses	3,125,597	5,768,175
Increase in net assets without donor restrictions	24,534	681,688
NET ASSETS WITH DONOR RESTRICTIONS
Gain (loss) on investments	3,838	3,932
Interest income	80,913	93,294
Net assets released from donor restrictions	(10,000)	(8,500)
Increase (decrease) in net assets with donor restrictions	74,751	88,726
Total increase in net assets	99,285	770,414
Net assets – beginning of year	11,158,483	10,388,069