Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SUPPORTING ORGAN FEE INCOME

  total $33,325,206 · related or exempt $33,325,206

• 2b · Program service revenue: OTHER INTEREST

  total $33,237,653 · related or exempt $33,237,653

• 2c · Program service revenue: INTEREST NOTE RECEIVABLE

  total $3,599,475 · related or exempt $3,599,475

• 2d · Program service revenue: OTHER REVENUE

  total $2,178,475 · related or exempt $2,178,475

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $244,131 · program services $244,131

• 7 · Other salaries and wages

  total $4,158,626 · program services $4,158,626

• 9 · Other employee benefits

  total $1,254,129 · program services $1,254,129

• 10 · Payroll taxes

  total $286,325 · program services $286,325

• 11b · Fees: legal

  total $577,024 · management and general $577,024

• 11c · Fees: accounting

  total $205,959 · management and general $205,959

• 13 · Office expenses

  total $472,694 · program services $472,694

• 16 · Occupancy

  total $599,345 · program services $599,345

• 19 · Conferences, conventions and meetings

  total $74,861 · management and general $74,861

• 20 · Interest

  total $3,682,668 · program services $3,682,668

• 22 · Depreciation, depletion and amortization

  total $135,570 · program services $135,570

• 23 · Insurance

  total $126,124 · program services $126,124

• 24a · Other expenses: CONSULTING

  total $1,679,954 · program services $1,679,954

• 24b · Other expenses: OTHER EXPENSES

  total $118,130 · program services $118,130

• 24c · Other expenses: NON-REIMBURSABLE COSTS

  total $44,213 · program services $44,213

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $29,350,529 · end of year $94,913,925

• 4 · Accounts receivable

  beginning of year $28,778,701 · end of year $32,188,178

• 7 · Other notes and loans receivable

  beginning of year $39,995,922 · end of year $28,071,182

• 10a · Land, buildings and equipment: cost or other basis

  $1,913,038

• 10b · Land, buildings and equipment: accumulated depreciation

  $1,354,208

• 10c · Land, buildings and equipment, net

  beginning of year $685,898 · end of year $558,830

• 13 · Investments: program-related

  beginning of year $154,459,428 · end of year $144,722,418

• 15 · Other assets

  beginning of year $10,346,128 · end of year $10,019,519

• 17 · Accounts payable and accrued expenses

  beginning of year $14,442,258 · end of year $2,610,146

• 19 · Deferred revenue

  beginning of year $415,185 · end of year $415,185

• 24 · Unsecured notes and loans payable

  beginning of year $66,509,445 · end of year $66,517,947

• 27 · Net assets without donor restrictions

  beginning of year $182,249,718 · end of year $240,930,774

The filer's explanations (Part III)

PART I, LINE 8

PRIOR TO JANET CHARLTON BECOMING A FOUNDATION EMPLOYEE, THE NFAHS BOARD OF DIRECTORS AND THE PERTINENT STATE HOUSING FINANCE AGENCIES HAD APPROVED THE PARTICIPATION OF AN ENTITY IN WHICH CHARLTON HAD AN INTEREST AS THE DEVELOPER FOR THREE (3) LIHTC REDEVELOPMENT TRANSACTIONS. DURING 2010 - 2013, PAYMENTS OF DEVELOPMENT FEES WERE MADE FOR SERVICES RENDERED TO THREE (3) LIMITED PARTNERSHIPS IN WHICH AFFILIATES OF THE NATIONAL FOUNDATION FOR AFFORDABLE HOUSING SOLUTIONS, INC. SERVE AS GENERAL PARTNER OR MANAGING PARTNER. SUCH FEES WERE PAID FOR SERVICES RENDERED PRIOR TO 2010 - 2013 AND WERE PAID FROM INVESTOR EQUITY CONTRIBUTED TO SUCH PARTNERSHIPS BY UNRELATED THIRD-PARTY TAX CREDIT INVESTORS. THE DEVELOPMENT FEES PAID IN EACH TRANSACTION ARE SUBJECT TO CERTAIN FEDERAL AND STATE GOVERNMENTAL LIMITATIONS AS TO GROSS AMOUNT AND SCHEDULE FOR PAYMENTS