Assets | |
Cash | 3,209,662 |
Due From Shareholders | 112,559 |
Due From Commercial Tenants | 153,043 |
Prepaid Expenses | 44,197 |
Property and Equipment - Net | 11,134,903 |
Accrued Commercial Rent | 152,602 |
Deferred Costs - Net | 184,210 |
Security Deposits Held | 99,219 |
Cash - Restricted | 100,644 |
Total Assets | 15,191,039 |
Liabilities and Shareholders' Equity | |
Liabilities | |
Accounts Payable and Accrued Expenses | 260,344 |
Capital Improvements Payable | 67,985 |
Abatements Payable | 237,065 |
Income Received in Advance | 32,697 |
Mortgage Payable | 8,289,567 |
Security Deposits Payable | 110,657 |
Total Liabilities | 8,998,315 |
Shareholders’ Equity | |
Capital Stock | 10,490 |
Additional Paid in Capital | 13,363,218 |
Retained Earnings (Deficit) | (7,180,984) |
Total Shareholders’ Equity | 6,192,724 |
Total Liabilities and Shareholders' Equity | 15,191,039 |
Income | |
Maintenance Charges | 3,147,486 |
Less: Abatements | (471,897) |
Operating Assessments | 407,581 |
Energy Charges | 800,008 |
Electric Income | 215,653 |
Parking Income | 182,546 |
Commercial Rent | 648,426 |
Interest Income | 28,520 |
Transfer Fees | 141,840 |
Laundry Income | 39,000 |
Other Income | 43,236 |
Total Income | 5,182,399 |
Expenses | |
Real Estate Taxes | 2,405,247 |
Less: Abatements | (471,897) |
Mortgage Interest | 350,843 |
Payroll and Related Expenses | 832,945 |
Electric and Gas | 409,029 |
Fuel Oil | 279,032 |
Water and Sewer | 153,157 |
Repairs and Maintenance | 372,271 |
Insurance | 85,468 |
Management Fees | 95,000 |
Professional Fees | 49,450 |
Corporation Taxes | 31,631 |
Office and Administration | 18,644 |
Total Expenses | 4,610,820 |
Income From Operations | 571,579 |
Other Items | |
Capital Assessments | 389,932 |
Depreciation and Amortization | (445,678) |
Net Income (Loss) | 515,833 |