Financials Year ended December 31, 2019

Current Assets

Cash and Cash Equivalents: $ 18,159,678
Funds Held for Others: $ 255,700
Investments: $ 10,256,222
FHLB Stock: $ 52,100
Grants and Contributions Receivables: $ 245,125
Interest Receivable: $ 500,666
Other Receivables: $ 33,334
Notes Receivable, Net of Allowance: $ 17,436,715
Prepaids and Deposits: $ 71,848
Total Current Assets: $ 47,011,388

Long-Term Assets

Notes Receivable, Net of Allowance: $ 57,289,848
Investment in Limited Liability Companies: $ 1,462
Office Equipment, Net of Accumulated Depreciation: $ 192,338
Leasehold Improvements, Net of Accumulated Depreciation: $ 271,340
Property, Held for Sale: -
Total Long-term Assets: $ 57,754,988

Total Assets $ 104,766,376

Current Liabilities

Accounts Payable: $ 2,031,243
Accrued Liabilities: $ 315,514
Refundable Advances: $ 648,648
Funds Held for Others: $ 255,700
Interest Payable: $ 43,799
Notes Payable: $ 525,315
Senior Loans Payable: $ 4,749,436
Subordinated Loans Payable: $ 3,000,000
Total Current Liabilities: $ 11,569,655

Long-term Liabilities

Notes Payable, Less Current Portion: $ 20,838,927
Senior Loans Payable, Less Current Portion: $ 29,457,291
Subordinated Loans Payable, Less Current Portion: $ 12,450,000
Total Long-term Liabilities: $ 62,746,218

Total Liabilities $ 74,315,873

Net Assets

Without Donor Restrictions: $ 23,646,938
Undesignated: $ 8,061,701
Board Designated: $ 15,585,237

With Donor Restrictions: $ 6,803,565
Total Net Assets: $ 30,450,503

Total Liabilities and Net Assets $ 104,766,376

Activity

Revenue

Grants and Contributions: $ 3,232,048
Donated Services: $ 974,816
Earned Income: $ 5,965,429
Miscellaneous: $ 12,017
Total Revenue: $ 10,184,310

Expenses

Program: $ 6,631,839
Administrative: $ 1,507,633
Fundraising: $ 188,951
Total Expenses: $ 8,328,423

Recoveries on Previously Written-off Loans: $0

Change In Net Assets: $ 1,855,887
Net Assets, Beginning of Year: $ 28,594,616
Net Assets, End of Year: $30,450,503