Assets | |
Cash | 247,160 |
Cash - Reserve Fund | 1,273,600 |
Accounts Receivable | 100,377 |
Prepaid Expenses | 41,176 |
Property and Equipment - Net | 6,969,682 |
Investment in NCB Stock | -0- |
Mortgage Costs - Net | 49,442 |
Security Deposits Held | 194,753 |
Total Assets | 8,876,190 |
Liabilities and Shareholders' Equity | |
Liabilities | |
Accounts Payable and Accrued Expenses | 161,293 |
Capital Improvements Payable | 79,075 |
Abatements Payable | 161,518 |
Maintenance Charges Received in Advance | 40,586 |
Mortgage Payable | 4,489,950 |
Security Deposits Payable | 220,726 |
Total Liabilities | 5,153,148 |
Shareholders' Equity | |
Capital Stock | 251,328 |
Additional Paid in Capital | 15,765,497 |
Retained Earnings (Deficit) | (12,293,783) |
Total Shareholders' Equity | 3,723,042 |
Total Liabilities and Shareholders' Equity | 8,876,190 |
Income | |
Maintenance Charges | 3,798,696 |
Less: Abatements | (325,641) |
Less: Mortgage Amortization | (316,980) |
Operating Assessments | 299,450 |
Commercial Rent | 142,142 |
Interest Income | 12,916 |
Laundry Income | 44,400 |
Storage Fees | 33,910 |
Sublet Fees | 14,440 |
Other Income | 26,125 |
Total Income | 3,729,458 |
Expenses | |
Real Estate Taxes | 1,754,813 |
Less: Abatements | (325,641) |
Mortgage Interest | 388,384 |
Payroll and Related Expenses | 771,917 |
Electric and Gas | 107,726 |
Steam | 411,246 |
Water and Sewer | 105,643 |
Repairs and Maintenance | 188,104 |
Insurance | 72,300 |
Management Fees | 85,000 |
Professional Fees | 39,424 |
Corporation Taxes | 26,163 |
Office and Administration | 22,891 |
Total Expenses | 3,647,970 |
Income From Operations | 81,488 |
Other Items | |
Mortgage Prepayment Penalty | -0- |
Depreciation and Amortization | (140,853) |
Net Income (Loss) | (59,365) |