Financials Year ended December 31, 2021

Current Assets

Cash and Cash Equivalents: $36,389,349
Funds Held for Others: $289,455
Investments: $13,889,840
FHLB Stock: $56,100
Grants and Contributions Receivables: $95,558
Interest Receivable: $731,067
Other Receivables: $48,922
Notes Receivable, Net of Allowance: $34,865,576
Prepaids and Deposits: $71,855
Total Current Assets: $86,437,722

Long-Term Assets

Notes Receivable, Net of Allowance: $54,511,391
Investment in Limited Liability Companies: $1,438
Office Equipment, Net of Accumulated Depreciation: $122,290
Leasehold Improvements, Net of Accumulated Depreciation: $198,262
Total Long-term Assets: $54,833,381

Total Assets $141,271,103

Current Liabilities

Accounts Payable: $1,829,302
Accrued Liabilities: $386,619
Refundable Advances: $6,648
Funds Held for Others: $289,455
Interest Payable: $61,504
Notes Payable: $1,078,561
Senior Loans Payable: $4,495,221
Subordinated Loans Payable: $4,100,000
Total Current Liabilities: $12,247,310

Long-term Liabilities

Notes Payable, Less Current Portion: $28,608,282
Senior Loans Payable, Less Current Portion: $47,368,238
Subordinated Loans Payable, Less Current Portion: $6,649,983
Investment from New Markets Tax Credits: $4,542,545
Total Long-term Liabilities: $87,169,048

Total Liabilities $99,416,358

Net Assets

Without Donor Restrictions: $34,001,219
Undesignated: $13,554,703
Board Designated: $20,446,516

With Donor Restrictions: $7,853,526
Total Net Assets: $41,854,745

Total Liabilities and Net Assets $141,271,103

Activity

Revenue

Grants and Contributions: $10,188,544
Donated Services: $625,378
Earned Income: $6,642,974
Miscellaneous: $45,486
Total Revenue: $17,502,382

Expenses

Program: $6,237,706
Administrative: $1,643,444
Fundraising: $420,770
Total Expenses: $8,301,920