HomeMy WebLinkAboutCF Collective Financial StatementTotal
ASSETS
Current Assets
Bank Accounts
1001 LOB Savings - 1933 287,843.83
1002 LOB Checking - 5046 74,818.45
Total Bank Accounts $ 362,662.28
Accounts Receivable
1200 Accounts Receivable 2,540.65
1201 Allowance for Doubtful Accounts (507.00)
Total 1200 Accounts Receivable $ 2,033.65
Total Accounts Receivable $ 2,033.65
Other Current Assets
1230 Funds Held by Prop. Management 1,605.00
1300 Prepaid Expenses 18,653.54
1350 Intercompany Receivable/Payable
2120 Due to/(from) CFCV 3,023.00
2130 Due to/(from) CFCIO2 97.88
2140 Due to/(from) CFCAH 3,804.03
2150 Due to/(from) CFC 491,208.07
Total 1350 Intercompany Receivable/Payable $ 498,132.98
Total Other Current Assets $ 518,391.52
Total Current Assets $ 883,087.45
Fixed Assets
1005 Wright Street 63,505.84
1005 Wright Street - Land 23,772.69
1009 Dawson Street 30,072.87
1009 Dawson Street - Building Improvements 7,195.75
1009 Dawson Street - Land 28,308.82
1009 Wright Street 94,071.12
1009 Wright Street - Building Improvements 6,955.00
1009 Wright Street - Land 41,772.06
1024 S. 13th Street 100,667.12
1024 S. 13th Street - Bldg Improvements 31,852.18
1024 S. 13th Street - Land 55,418.26
1212 Meares Street 56,113.63
1212 Meares Street - Building Improvements 44,545.09
1212 Meares Street - Land 32,760.95
1551 Bay Road 60,153.30
1551 Bay Road - Building Improvements 5,140.30
1551 Bay Road - Land 12,768.37
203 N 11th St - Bldg Improvements 3,400.00
203 N. 11th Street 35,281.02
203 N. 11th Street - Land 38,809.12
3002 Lauren Place Dr. #103 94,922.75
3002 Lauren Place Dr. #103 - Building Improvements 2,029.50
Cape Fear Collective Impact Opportunity 1, LLC
Balance Sheet
As of March 31, 2024
No assurance is provided on these financial statements.1
3002 Lauren Place Dr. #103 - Land 29,400.85
3045 Englishtown Bldg Improvements 9,256.00
3045 Englishtown Road 84,215.80
3045 Englishtown Road - Land 13,104.38
3820 Princess Place - Bldg Improvements 623,022.29
3820 Princess Place Drive 998,266.00
3820 Princess Place Drive - Land 216,000.00
4159 Abbington Terrace 89,446.89
4159 Abbington Terrace - Building Improvements 7,610.00
4159 Abbington Terrace - Land 37,496.71
607 N 11th Street/1019 Campbell - Bldg Improvements 16,948.78
607 N. 11th Street/1019 Campbell 29,988.87
607 N. 11th Street/1019 Campbell - Land 24,528.71
701 N. 11th Street 69,974.03
701 N. 11th Street - Land 18,732.54
714 N. 8th Street 38,557.12
714 N. 8th Street - Building Improvements 14,575.00
714 N. 8th Street - Land 36,625.06
803 S. 7th Street 56,281.63
803 S. 7th Street - Land 37,633.09
9000 Accumulated Depreciation (211,856.64)
Total Fixed Assets $ 3,109,322.85
Other Assets
1910 Security Dep. Prop. Management 10,344.00
1920 Utility Deposits 1,412.60
Total Other Assets $ 11,756.60
TOTAL ASSETS $ 4,004,166.90
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts Payable
20000 Accounts Payable 212,900.43
Total Accounts Payable $ 212,900.43
Other Current Liabilities
2050 Accrued Expenses 2,010.00
2315 Accrued Property Tax 4,081.95
Total Other Current Liabilities $ 6,091.95
Total Current Liabilities $ 218,992.38
Long-Term Liabilities
27300 Tenant Security Deposits 10,344.00
Total Long-Term Liabilities $ 10,344.00
Total Liabilities $ 229,336.38
Equity
32000 Unrestricted Net Assets (33,700.96)
CINHC, Inc.- Stock - Class A 300,000.00
Live Oak Bank- Stock - Class B 3,058,000.00
Net Income 450,531.48
Total Equity $ 3,774,830.52
TOTAL LIABILITIES AND EQUITY $ 4,004,166.90
No assurance is provided on these financial statements.2
Total
Income
4000 Rent Income 31,552.00
4001 Grant Income 509,736.31
Total Income $ 541,288.31
Gross Profit $ 541,288.31
Expenses
5000 Accounting Fees 2,010.00
5005 Annual Report 202.00
5009 Bad Debts 47.00
5010 Bank and Merchant Fees 63.10
5032 Depreciation Expense 19,210.26
5036 Eviction Expense 312.00
5038 HOA Dues 323.20
5040 Insurance 551.43
5041 D&O Liab Insurance 530.25
5043 Property Insurance 9,388.10
Total 5040 Insurance $ 10,469.78
5062 Lawn Maintenance 7,790.00
5068 Lease Renewal Fee 360.00
5070 Legal Fees 6,531.92
5075 Management Fees 16,790.00
5103 Pest Control 88.28
5104 Property Tax 4,255.16
5106 Property Management Fees 3,262.20
5120 Office Expenses 180.00
5130 Repairs & Maintenance 11,895.62
5150 Storage Expense 733.24
5160 Appliances 2,603.49
5170 Utilities 7,473.86
Total Expenses $ 94,601.11
Net Operating Income $ 446,687.20
Other Income
9200 Interest Income 3,844.28
Total Other Income $ 3,844.28
Net Other Income $ 3,844.28
Net Income $ 450,531.48
Cape Fear Collective Impact Opportunity 1, LLC
Profit and Loss
January - March, 2024
No assurance is provided on these financial statements.3