Revenue and Support

Syndication, acquisition and consulting fees

$

50,392

50,392

Contributions

1,762

15,149

16,911

Grants and contracts

13,540

13,540

Sales of real estate

4,254

4,254

Interest from loans to neighborhood housing groups

7,547

7,547

Investment income

5,966

2,636

8,602

Operating properties rents

1,124

1,124

Other revenue

8,011

8,011

Net assets released from restrictions

20,232

(20,232)

Total revenue and support

$

112,828

(2,447)

110,381

Expenses

Program activities

$

79,125

79,125

Cost of real estate sold

6,703

6,703

Interest

6,521

6,521

General and administrative

14,075

14,075

Operating properties activities

1,131

1,131

Fundraising

1,389

1,389

Income taxes

3,105

3,105

Total expenses

112,049

112,049

Increase (decrease) in net assets before cumulative

779

(2,447)

(1,668)

Effect of change in accounting principle

Cumulative effect of change in accounting principle

(452)

(452)

Increase (decrease) in net assets

327

(2,447)

(2,120)

Net assets, beginning of year

119,989

49,596

169,585

Net assets, end of year

$

120,316

47,149

167,465