Sustaining Impact
2017 Financials
| Position | 2017 | 2016 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $78,659,000 | $97,425,000 |
| Restricted cash and deposits | $74,964,000 | $66,100,000 |
| Accounts receivable – net | $11,609,000 | $7,368,000 |
| Notes receivable | $23,617,000 | $24,057,000 |
| Prepaid expenses, deposits and impounds | $13,974,000 | $18,235,000 |
| Property and equipment – net | $2,022,937,000 | $1,851,459,000 |
| Deferred costs – net | $5,079,000 | $5,195,000 |
| Land under lease and other investments | $10,186,000 | $9,869,000 |
| Total assets | $2,241,025,000 | $2,079,708,000 |
| Liabilities And Net Assets | ||
|---|---|---|
| Liabilities | ||
| Accounts payable and accrued expenses | $54,097,000 | $66,011,000 |
| Notes and interest payable | $1,596,879,000 | $1,446,981,000 |
| Deferred revenues | $21,388,000 | $21,400,000 |
| Security and other deposits | $6,779,000 | $6,670,000 |
| Total liabilities | $1,679,143,000 | $1,541,062,000 |
| Net assets: | ||
| Unrestricted: | ||
| Controlling interests | $166,027,000 | $166,686,000 |
| Non-controlling interests | $391,354,000 | $367,307,000 |
| Total unrestricted | $557,381,000 | $533,993,000 |
| Temporarily restricted | $2,841,000 | $2,993,000 |
| Permanently restricted | $1,660,000 | $1,660,000 |
| Total Net Assets | $561,882,000 | $538,646,000 |
| Total Liabilities and Net Assets | $2,241,025,000 | $2,079,708,000 |
* The above Financial Statements were consolidated adopting EITF 04-5 whereby entities which BRIDGE controls are consolidated. To obtain a copy of BRIDGE’s audited financial statements, please contact the BRIDGE offices.
| Activities | 2017 | 2016 |
|---|---|---|
| Support and revenue: | ||
| Rental income – net of vacancies and concessions | $135,494,000 | $126,657,000 |
| Developer Fees | $11,381,000 | $12,750,000 |
| Management revenue | $2,727,000 | $2,806,000 |
| Contributions | $23,212,000 | $22,277,000 |
| Interest income | $2,759,000 | $1,642,000 |
| Other | $7,348,000 | $4,153,000 |
| Total support and revenue | $182,921,000 | $170,285,000 |
| Expenses: | ||
| Program services (1) | $137,694,000 | $145,701,000 |
| Supporting services | $7,395,000 | $7,285,000 |
| Fundraising | $674,000 | $625,000 |
| Total Expenses | $145,763,000 | $153,611,000 |
| Cash Operating Income | $37,158,000 | $16,674,000 |
(1) Expenses exclude $54,634,000 and $50,254,000 of non-cash Depreciation and Amortization Expense and $16,663,000 and $11,665,000 of non-cash Interest Expense on project related subordinate financing in 2017 and 2016 respectively.
| Position | |
|---|---|
| Assets | |
| Cash and Cash Equivalents | |
| 2017 | $78,659,000 |
| 2016 | $97,425,000 |
| Restricted Cash and Deposits | |
| 2017 | $74,964,000 |
| 2016 | $66,100,000 |
| Accounts Receivable – Net | |
| 2017 | $11,609,000 |
| 2016 | $7,368,000 |
| Notes Receivable | |
| 2017 | $23,617,000 |
| 2016 | $24,057,000 |
| Prepaid Expenses, Deposits and Impounds | |
| 2017 | $13,974,000 |
| 2016 | $18,235,000 |
| Property and Equipment – Net | |
| 2017 | $2,022,937,000 |
| 2016 | $1,851,459,000 |
| Deferred Costs – Net | |
| 2017 | $5,079,000 |
| 2016 | $5,195,000 |
| Land Under Lease and Other Investments | |
| 2017 | $10,186,000 |
| 2016 | $9,869,000 |
| Total Assets | |
| 2017 | $2,241,025,000 |
| 2016 | $2,079,708,000 |
| Liabilities And Net Assets | |
|---|---|
| Liabilities | |
| Accounts Payable and Accrued Expenses | |
| 2017 | $54,097,000 |
| 2016 | $66,011,000 |
| Notes and Interest Payable | |
| 2017 | $1,596,879,000 |
| 2016 | $1,446,981,000 |
| Deferred Revenues | |
| 2017 | $21,388,000 |
| 2016 | $21,400,000 |
| Security and Other Deposits | |
| 2017 | $6,779,000 |
| 2016 | $6,670,000 |
| Total Liabilities | |
| 2017 | $1,679,143,000 |
| 2016 | $1,541,062,000 |
| Net Assets: | |
| Unrestricted: | |
| Controlling interests | |
| 2017 | $166,027,000 |
| 2016 | $166,686,000 |
| Non-controlling interests | |
| 2017 | $391,354,000 |
| 2016 | $367,307,000 |
| Total Unrestricted | |
| 2017 | $557,381,000 |
| 2016 | $533,993,000 |
| Temporarily Restricted | |
| 2017 | $2,841,000 |
| 2016 | $2,993,000 |
| Permanently Restricted | |
| 2017 | $1,660,000 |
| 2016 | $1,660,000 |
| Total Net Assets | |
| 2017 | $561,882,000 |
| 2016 | $538,646,000 |
| Total Liabilities and Net Assets | |
| 2017 | $2,241,025,000 |
| 2016 | $2,079,708,000 |
* The above Financial Statements were consolidated adopting EITF 04-5 whereby entities which BRIDGE controls are consolidated. To obtain a copy of BRIDGE’s audited financial statements, please contact the BRIDGE offices.
| Activities | |
|---|---|
| Support and revenue: | |
| Rental Income – Net of Vacancies and Concessions | |
| 2017 | $135,494,000 |
| 2016 | $126,657,000 |
| Developer Fees | |
| 2017 | $11,381,000 |
| 2016 | $12,750,000 |
| Management revenue | |
| 2017 | $2,727,000 |
| 2016 | $2,806,000 |
| Contributions | |
| 2017 | $23,212,000 |
| 2016 | $22,277,000 |
| Interest Income | |
| 2017 | $2,759,000 |
| 2016 | $1,642,000 |
| Other | |
| 2017 | $7,348,000 |
| 2016 | $4,153,000 |
| Total Support and Revenue | |
| 2017 | $182,921,000 |
| 2016 | $170,285,000 |
| Expenses: | |
| Program services (1) | |
| 2017 | $137,694,000 |
| 2016 | $145,701,000 |
| Supporting services | |
| 2017 | $7,395,000 |
| 2016 | $7,285,000 |
| Fundraising | |
| 2017 | $674,000 |
| 2016 | $625,000 |
| Total Expenses | |
| 2017 | $145,763,000 |
| 2016 | $153,611,000 |
| Cash Operating Income | |
| 2017 | $37,158,000 |
| 2016 | $16,674,000 |
(1) Expenses exclude $54,634,000 and $50,254,000 of non-cash Depreciation and Amortization Expense and $16,663,000 and $11,665,000 of non-cash Interest Expense on project related subordinate financing in 2017 and 2016 respectively.
