Mercy Housing California
Consolidating Statement of Financial Position
December 31, 2021
Consolidated San
Consolidated Mercy Juan Housing
Properties California Corporation
Consolidated Mercy
Eliminations Housing California
Liabilities
Current liabilities
Accounts payable and accrued expenses $ 139,066 $ 229,124 $ 22,010 $ 59,261,460 Due to affiliates 172,090 159,696 (32,488,787) 5,060,706 Accrued interest 679,735 12,761 - 3,493,985
Accrued interest, affiliates 2,170
Current portion of notes payable 1,355,614 151,558 225,418,006 Current portion of notes payable, affiliates 192,416 - (8,368,095) 15,621,385 Deferred revenue and other liabilities 6,302 15,003 (1,706,710) 3,389,577 Tenant security deposits 44,759 130,755 3,927,237
Total current liabilities 2,589,982 698,897 (42,541,582) 316,174,526 Long-term liabilities
Due to affiliates - - (60,000) -
Accrued interest 528,108 2,580,345 - 73,045,019
Accrued interest, affiliates (1,283,496) 175,770
Notes payable, less current portion, net 2,333,687 6,509,304 (2,347,800) 1,030,541,284 Notes payable, less current portion, affiliates - (46,363,434) 3,918,313 Deferred revenue and other liabilities 11,500 (16,764,715) 22,152,953 Total long-term liabilities 2,873,295 9,089,649 (66,819,445) 1,129,833,339 Total liabilities 5,463,277 9,788,546 (109,361,027) 1,446,007,865 Net assets
Net assets without donor restrictions, controlling 4,728,374 (5,334,308) (521,193,406) 145,630,385 Net assets without donor restrictions, noncontrolling 515,515,004 515,515,004 Total net assets without donor restrictions 4,728,374 (5,334,308) (5,678,402) 661,145,389 Net assets with donor restrictions 41,183,074
Total net assets 4,728,374 (5,334,308) (5,678,402) 702,328,463 Total liabilities and net assets $ 10,191,651 $ 4,454,238 $ (115,039,429) $ 2,148,336,328
Mercy Housing California
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Marin Homes for Mercy Senior
Mercy Housing MH California Affordable Housing All Hallows Independent Living Cantebria Senior Housing Oxnard Francis of Assisi California Properties 1 LLC Initiatives Community (Camino Alto) Homes (Casa Merced) Community Revenues
Rent - net of vacancies $ - $ $ $ 1,401,822 $ 404,306 $ 417,753 $ 422,711 $ Developer fees 21,119,417 - - -
Services fees 7,908,201 -
Philanthropy 9,513,201
Capital grants 1,588,261
Consulting 842,356 - - - -
Interest 825,718 (1,230) 635 4 9
Other 9,889,654 30,379 2,294 4,153 4,463 492,927
Total revenues 51,686,808 1,430,971 407,235 421,910 427,183 492,927 Expenses and losses
Compensation 16,068,192 - - 292,857 108,625 161,043 127,554 - Administrative 3,097,425 14 941 81,621 39,306 78,164 67,594 210 Professional services 813,163 201,743 1,245 37,048 8,350 9,956 52,603 Depreciation and amortization 167,820 - 296,094 64,070 198,479 161,167 - Grants 13,996,001 - 862,904
Facility 629,156 232,589 112,136 137,374 151,199
Interest and fees 4,097 169,185 96,657 - -
Bad debts 159,917 - 3,091 2,523 44 -
Provision for impaired assets - - - -
Project expenses 437,006 -
Allocation 5,724,451
(Gain) loss on sale of assets
(Gain) loss on investment in limited partnership 341 38 Total expenses and losses 41,097,569 201,757 2,224 1,109,394 432,235 587,539 560,161 863,114 Excess (deficiency) of revenues over expenses 10,589,239 (201,757) (2,224) 321,577 (25,000) (165,629) (132,978) (370,187) Net assets at beginning of year 181,098,976 - 240,482 257,711 (339,927) 2,343,264 1,385,572 1,388,156 Other transfers to (from) net assets - 5,017,185 - - - 444,534 Net assets at end of year $ 191,688,215 $ 4,815,428 $ 238,258 $ 579,288 $ (364,927) $ 2,177,635 $ 1,252,594 $ 1,462,503 50 Mercy Housing California
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Family Plaza Oceana Senior
Maria B. Freitas Marin Housing Limited Partnership Notre Dame Senior Housing Gault Street Senior John W. King Senior Housing Corporation (Mercy Family Housing Corporation Housing Senior Community Corporation (Martinelli House) Plaza) Mercy Gardens Corporation (Oceana Terrace) Revenues
Rent - net of vacancies $ 316,865 $ 1,172,556 $ 695,643 $ $ 839,152 $ 277,709 $ 654,327 $ 533,676 Developer fees - - - - -
Services fees
Philanthropy
Capital grants -
Consulting - - - - - - - -
Interest 13 226 58 176,819 41 6 202 113
Other 5,412 35,911 4,474 - 17,407 1,594 11,904 674,745
Total revenues
322,290 1,208,693 700,175 176,819 856,600 279,309 666,433 1,208,534 Expenses and losses
Compensation 132,141 587,729 287,269 48,354 74,763 296,753 156,150 Administrative 52,768 144,712 104,997 88,234 41,065 104,240 76,465 Professional services 24,580 10,926 26,729 8,993 12,468 15,007 12,880 Depreciation and amortization 180,683 541,742 242,733 - 238,240 147,594 326,235 185,730 Grants 327,262
Facility 107,533 285,031 246,955 - 220,612 98,991 270,679 207,190 Interest and fees - 27,592 31,810 - 36,807
Bad debts 3,997 553 3,619 603,270 1,287 40
Provision for impaired assets - - -
Project expenses - - -
Allocation -
(Gain) loss on sale of assets - - -
(Gain) loss on investment in limited partnership - - -
Total expenses and losses 501,702 1,570,693 912,302 327,262 1,235,295 407,978 1,012,914 675,262 Excess (deficiency) of revenues over expenses (179,412) (362,000) (212,127) (150,443) (378,695) (128,669) (346,481) 533,272 Net assets at beginning of year 2,097,755 6,104,083 2,137,355 4,617,258 889,673 (207,043) 3,819,247 (659,504) Other transfers to (from) net assets - - - (29,970) - - Net assets at end of year $ 1,918,343 $ 5,742,083 $ 1,925,228 $ 4,466,815 $ 481,008 $ (335,712) $ 3,472,766 $ (126,232) 51 Mercy Housing California
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Garden Park
Presentation Senior Apartment Mercy Commercial
Housing Community Russell Manor Tierra Del Sol, Inc. Community Mercy Oaks Village California MPCAL, LLC MCC 1360 LLC Revenues
Rent - net of vacancies $ 1,368,520 $ 523,607 $ 703,427 $ 433,562 $ 495,170 $ 687,168 $ 509,365 $ Developer fees - - - - - -
Services fees -
Philanthropy
Capital grants
Consulting - - - - - - -
Interest (850) (2,683) 3,246 (2,775) 13 (5,204) 60
Other 17,337 4,866 9,052 351,406 7,412 156,456 57,553
Total revenues 1,385,007 525,790 715,725 782,193 502,595 838,420 566,978 Expenses and losses
Compensation 669,454 209,306 216,281 148,582 188,548 155,498 - - Administrative 168,577 94,149 127,599 59,086 81,794 62,595 30,685 850 Professional services 16,780 10,007 9,580 282,308 44,747 5,846 6,942 2,616 Depreciation and amortization 606,193 208,044 495,625 202,016 295,320 17,660 113,268 Grants 25,000 -
Facility 443,333 220,976 278,042 247,746 152,264 650,547 330,084 Interest and fees 36 10,753 6,404 93,271 5,771 135,242
Bad debts - 45 449 3,091 - -
Provision for impaired assets - -
Project expenses
Allocation
(Gain) loss on sale of assets
(Gain) loss on investment in limited partnership
Total expenses and losses 1,904,373 753,280 1,133,980 1,061,100 768,444 892,146 616,221 3,466 Excess (deficiency) of revenues over expenses (519,366) (227,490) (418,255) (278,907) (265,849) (53,726) (49,243) (3,466) Net assets at beginning of year 7,200,436 1,189,741 6,124,547 215,624 3,399,491 (1,803,071) (652,473) 3,143,238 Other transfers to (from) net assets - - - - - -
Net assets at end of year $ 6,681,070 $ 962,251 $ 5,706,292 $ (63,283) $ 3,133,642 $ (1,856,797) $ (701,716) $ 3,139,772 52 Mercy Housing California
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Mercy Housing
California 58, LP Mercy Housing California 51, LP Mercy Housing Mercy Housing Central Coast (Neary Lagoon Sycamore Street California Family (Bill Sorro California Special California 57, LP Florin Housing Housing Apts.) Consolidated Properties Community) Needs (1500 Page) Corporation GP Revenues
Rent - net of vacancies $ 63,621 $ 1,117,448 $ 1,148,941 $ - $ 989,427 $ - $ 182,993 $ Developer fees - - - - -
Services fees - 124,192 17,390 21,139
Philanthropy - -
Capital grants
Consulting - - - - -
Interest 45 86 5,015 312 (1,259)
Other 1,079 9,051 20,431 31,901 2,670
Total revenues
64,745 1,126,585 1,174,387
124,192 1,021,640 17,390 184,404 21,139
Expenses and losses
Compensation 36,462 247,889 165,392 - 130,368 - 43,626 - Administrative 6,108 148,870 101,042 124,242 135,110 17,439 57,909 21,139 Professional services 4,262 91,665 86,649 2,523 102,059 623 20,447 2,834 Depreciation and amortization 16,458 719,483 345,790 - 1,497,785 292,353 - Grants
Facility 19,223 540,367 289,044 514,157 85,701
Interest and fees 7,016 197,275 122,863 121,151 1,177
Bad debts - 33,807 15,578 92,825 - -
Provision for impaired assets - -
Project expenses
Allocation -
(Gain) loss on sale of assets - -
(Gain) loss on investment in limited partnership 43 157 32 146 Total expenses and losses 89,572 1,979,356 1,126,358 126,922 2,593,455 18,094 501,213 24,119 Excess (deficiency) of revenues over expenses (24,827) (852,771) 48,029 (2,730) (1,571,815) (704) (316,809) (2,980) Net assets at beginning of year
Other transfers to (from) net assets
(277,081) 3,801,999 (556,274) 1,259,641 12,816,296 (22,583) 6,339,989 (7,555,898) Net assets at end of year $ (301,908) $ 2,949,228 $ (508,245) $ 1,256,911 $ 11,244,481 $ (23,287) $ 6,023,180 $ (7,558,878) 53 Mercy Housing California
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Mercy Housing Mercy Housing Consolidated Mercy Crossroad Gardens California 80, LP, 3425 Orange California 81, LP Mercy Mather California 79, LP Housing California Consolidated Mercy Consolidated Consolidated Grove, LLC (Courtyard Inn) Veterans 3 LLC (Mather Phase 3) Senior Properties Housing Calwest Revenues
Rent - net of vacancies $ 695,584 $ 788,788 $ - $ 1,342,646 $ - $ 683,259 $ 4,044,361 $ 68,033,173 Developer fees - - - - -
Services fees 59,948 16,250 31,670
Philanthropy -
Capital grants 9,294,840
Consulting - - - - - -
Interest (1,825) 31 (3,463) - (2,280) (1,793) (1,847,663) Other 5,692 39,999 17,241 10,000 7,409 99,429 12,863,253 Total revenues
699,451 828,818 59,948 1,356,424 26,250 688,388 4,141,997 88,375,273 Expenses and losses
Compensation 206,369 226,661 - 420,783 - 219,628 823,400 14,213,435 Administrative 81,303 138,970 60,798 221,259 51,260 117,465 461,580 10,730,212 Professional services 53,437 102,710 1,924 145,186 1,791 101,079 51,243 5,679,150 Depreciation and amortization 529,806 787,959 1,200,538 - 683,770 932,816 49,267,625 Grants 2,088,780 553,509
Facility 223,637 304,114 302,660 - 173,278 696,708 22,735,175 Interest and fees 68,740 249,180 87,346 - 169,417 467,402 22,476,926 Bad debts 5,993 10,251 1,322 10,000 7,843 7,551 1,279,759 Provision for impaired assets - - - - -
Project expenses - -
Allocation
(Gain) loss on sale of assets -
(Gain) loss on investment in limited partnership 102 59 206,615 Total expenses and losses 1,169,285 1,819,845 62,824 2,379,094 63,110 1,472,480 5,529,480 127,142,406 Excess (deficiency) of revenues over expenses (469,834) (991,027) (2,876) (1,022,670) (36,860) (784,092) (1,387,483) (38,767,133) Net assets at beginning of year 4,061,548 2,972,562 (8,299) 21,528,206 (4,563) 6,439,910 3,934,281 401,312,438 Other transfers to (from) net assets - - 307,799 - 2,239,765 632,969 59,182,152 Net assets at end of year $ 3,591,714 $ 1,981,535 $ (11,175) $ 20,813,335 $ (41,423) $ 7,895,583 $ 3,179,767 $ 421,727,457 54 Mercy Housing California
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Consolidated San
Consolidated Mercy Juan Housing
Properties California Corporation
Consolidated Mercy
Eliminations Housing California
Revenues
Rent - net of vacancies $ 907,994 $ 1,551,486 $ (1,637,258) $ 91,769,802 Developer fees - - (2,427,318) 18,692,099
Services fees (5,687,275) 2,491,515
Philanthropy - 9,513,201
Capital grants 58,488 - 10,941,589
Consulting - - (142,500) 699,856
Interest 4,561 1,507 (362,492) (1,214,797)
Other 95,191 149,956 (12,379,145) 12,753,556
Total revenues 1,066,234 1,702,949 (22,635,988) 145,646,821 Expenses and losses
Compensation 165,525 366,904 - 37,195,541
Administrative 1,017,185 250,217 (2,079,866) 16,265,333 Professional services 22,385 19,250 (4,338,591) 3,765,143 Depreciation and amortization 518,486 452,794 (1,060,500) 60,873,876 Grants - (11,776,961) 6,076,495
Facility 393,570 672,626 (812,864) 31,159,833
Interest and fees 155,975 282,735 (164,325) 24,860,503
Bad debts 7,296 19,307 (134,214) 2,139,244
Provision for impaired assets -
Project expenses 437,006
Allocation - 5,724,451
(Gain) loss on sale of assets 7,492 7,492
(Gain) loss on investment in limited partnership - (481,877) (274,344) Total expenses and losses 2,287,914 2,063,833 (20,849,198) 188,230,573 Excess (deficiency) of revenues over expenses (1,221,680) (360,884) (1,786,790) (42,583,752) Net assets at beginning of year 5,950,054 (4,973,424) (3,895,822) 677,113,571 Other transfers to (from) net assets - - 4,210 67,798,644 Net assets at end of year $ 4,728,374 $ (5,334,308) $ (5,678,402) $ 702,328,463
Mercy Housing California Senior Properties
Consolidating Statement of Financial Position
December 31, 2021
Assets
Current assets
Cash and cash equivalents
Cash, tenant security deposits
Cash, restricted
Investments
Investments, restricted
Accounts receivable, net
Due from affiliate, net
Pledges receivable, net
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates Prepaid expenses and other assets
Inventory
Assets held for sale
Total current assets
Mercy Housing Villa Columbia
California Senior Dorothy Day Monsignor Lyne, St. Andrew Mercy Riverside, Properties Bennett House, LP Community, LP Junipero Serra, LP LP Community, LP LP Eliminations
Consolidated
Mercy Housing
California Senior
Properties
$ $ 181 $ 252,022 $ 207,103 $ 553,536 $ 25,833 $ $ 1,038,675 9,871 7,000 20,586 25,869 63,326
- - - 450 450
20 731 9,680 24,235
1,167 1,569
(1,167)
34,666
1,569
11,828 8,930 17,273 28,051 66,082
181 273,741 224,931 601,075 106,007 (1,167) 1,204,768
Property and equipment
Land and land improvements 32,240 210,151 614,986 346,376 1,203,753 Buildings 2,583,420 2,842,371 4,928,175 4,567,008 14,920,974 Furniture and equipment 155,923 902,126 762,211 185,615 2,005,875 Predevelopment project costs - - - - -
Construction in progress - - - - -
Accumulated depreciation (1,194,646) (1,739,043) (2,434,832) (2,426,276) (7,794,797) Net property and equipment 1,576,937 2,215,605 3,870,540 2,672,723 10,335,805 Other long-term assets
Restricted property reserves
Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net
Investments in limited partnerships, net
Notes and interest receivable, net
Notes and interest receivable, affiliates
Allowance for impaired assets
Other assets, net
Total other long-term assets
735,427 586,761 350,192 636,625
3,179,013 (3,179,013)
2,309,005
3,179,013 735,427 586,761 350,192 636,625 (3,179,013) 2,309,005 Total assets $ 3,179,013 $ $ 181 $ 2,586,105 $ 3,027,297 $ 4,821,807 $ 3,415,355 $ (3,180,180) $ 13,849,578 56 Mercy Housing California Senior Properties
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Villa Columbia
California Senior Dorothy Day Monsignor Lyne, St. Andrew Mercy Riverside, Properties Bennett House, LP Community, LP Junipero Serra, LP LP Community, LP LP Liabilities
Current liabilities
Accounts payable and accrued expenses $ 2,780 $
Due to affiliates 20,882
Accrued interest -
Accrued interest, affiliates
Current portion of notes payable
Current portion of notes payable, affiliates
Deferred revenue and other liabilities
Tenant security deposits
Total current liabilities
$
Eliminations
Consolidated
Mercy Housing
California Senior
Properties
$ 684,877 $ 477,055 $ 597,502 $ 119,568 $ - $ 1,881,782 1,167 (1,167) 20,882
29,532 17,477 26,514 43,610 - 117,133
80,016 63,672 115,000 115,000 373,688
4,212 25 349 8,157 12,743
9,367 6,643 20,087 23,436 59,533
23,662 808,004 564,872 760,619 309,771 (1,167) 2,465,761 Long-term liabilities
Due to affiliates
Accrued interest 787,556 787,556
Accrued interest, affiliates - - -
Notes payable, less current portion, net 1,486,505 1,202,797 2,247,796 2,415,949 7,353,047 Notes payable, less current portion, affiliates
Deferred revenue and other liabilities 62,544 903 63,447 Total long-term liabilities 1,549,049 1,202,797 3,036,255 2,415,949 8,204,050 Total liabilities 23,662 2,357,053 1,767,669 3,796,874 2,725,720 (1,167) 10,669,811 Net assets
Net assets without donor restrictions, controlling 3,155,351 181 229,052 1,259,628 1,024,933 689,635 (3,179,013) 3,179,767 Net assets without donor restrictions, noncontrolling - - - - - - Total net assets without donor restrictions 3,155,351 181 229,052 1,259,628 1,024,933 689,635 (3,179,013) 3,179,767 Net assets with donor restrictions
Total net assets 3,155,351 181 229,052 1,259,628 1,024,933 689,635 (3,179,013) 3,179,767 Total liabilities and net assets $ 3,179,013 $ $ 181 $ 2,586,105 $ 3,027,297 $ 4,821,807 $ 3,415,355 $ (3,180,180) $ 13,849,578 57 Mercy Housing California Senior Properties
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Villa Columbia
California Senior Dorothy Day Monsignor Lyne, St. Andrew Mercy Riverside, Properties Bennett House, LP Community, LP Junipero Serra, LP LP Community, LP LP Eliminations
Consolidated
Mercy Housing
California Senior
Properties
Revenues
Rent - net of vacancies $ $ $ $ 853,801 $ 915,492 $ 1,320,016 $ 955,052 $ $ 4,044,361 Developer fees - -
Services fees
Philanthropy
Capital grants - -
Consulting - - - - -
Interest 1,343 (2,002) (701) (433) (1,793)
Other 29,089 32,629 8,860 28,851 99,429
Total revenues
Expenses and losses
Compensation
Administrative
Professional services
Depreciation and amortization
Grants
Facility
Interest and fees
Bad debts
Provision for impaired assets
Project expenses
Allocation
(Gain) loss on sale of assets
(Gain) loss on investment in limited partnership
Total expenses and losses
Excess (deficiency) of revenues over expenses
Net assets at beginning of year
Other transfers to (from) net assets
Net assets at end of year
884,233 946,119 1,328,175 983,470
4,141,997
- 193,422 169,194 168,121 292,663 823,400
425 - 2,318 62,082 49,350 215,383 132,022 461,580
2,543 4,867 8,254 9,623 12,252 13,704 51,243
- - 156,772 245,287 342,548 188,209 932,816
144,691 1,944,089 - - - - 2,088,780
- - 130,373 118,002 186,920 261,413 696,708
358 96,489 67,997 130,609 171,949 467,402
- - 7,551 7,551
1,370,671 (1,370,671)
1,373,639 149,916 1,946,407 647,392 659,453 1,055,833 1,067,511 (1,370,671) 5,529,480 (1,373,639) (149,916) (1,946,407) 236,841 286,666 272,342 (84,041) 1,370,671 (1,387,483) 3,896,021 149,916 1,313,619 (7,789) 972,962 752,591 773,676 (3,916,715) 3,934,281 632,969 - 632,969 - - - - (632,969) 632,969
$ 3,155,351 $ $ 181 $ 229,052 $ 1,259,628 $ 1,024,933 $ 689,635 $ (3,179,013) $ 3,179,767 58 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Assets
Current assets
Cash and cash equivalents
Cash, tenant security deposits
Cash, restricted
Investments
Investments, restricted
Accounts receivable, net
Due from affiliate, net
Pledges receivable, net
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates Prepaid expenses and other assets
Inventory
Assets held for sale
Total current assets
Mercy Housing Third and LeConte
Mercy Housing Mercy Housing California XXXVIII, Mercy Housing Mercy Housing Associates LP Mercy Housing California XXXIX, LP California XL, LP LP (East Leland California XLII, LP California XLIV, LP (Bayview Hill Caroline Severance Calwest (Gleason Park) (Arlington Hotel) Courts) (Boulevard Court) (1180 Fourth Street) Gardens) LLC $ - $ 103,333 $ 355,635 $ 40,718 $ 101,563 $ 1,036,376 $ 687,277 $ 57,310 39,565 59,588 25,244 133,524 15,547
126 - - - 201,782 69,494 -
110 3,903 56,287 1,372 249,375 86,052 143,634
1,494,344 - - - 122,658 -
37,964 57,793 32,923 27,113 142,175 57,347
1,494,580 202,510 509,280 134,601 605,077 1,590,279 903,805 Property and equipment
Land and land improvements 1,082,249 3,972,090 2,754,496 3,090,021 1,876,368 2,416,056 Buildings 20,095,787 35,842,361 19,590,560 13,825,757 63,842,421 28,865,848 Furniture and equipment 209,399 2,073,484 345,014 855,612 2,684,203 998,220 Predevelopment project costs - - - - - -
Construction in progress - - - -
Accumulated depreciation (8,673,938) (15,371,484) (11,624,352) (6,724,601) (14,889,668) (10,608,835) Net property and equipment 12,713,497 26,516,451 11,065,718 11,046,789 53,513,324 21,671,289 Other long-term assets
Restricted property reserves 1,484,687 3,558,861 429,047 3,642,691 1,157,314 973,418 Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net -
Investments in limited partnerships, net (51,813,647)
Notes and interest receivable, net 50,000
Notes and interest receivable, affiliates 13,685,439
Allowance for impaired assets -
Other assets, net 11,326 35,411 5,856 33,035 47,860 40,489 Total other long-term assets (38,078,208) 1,496,013 3,594,272 434,903 3,675,726 1,205,174 1,013,907 58,391
58,391
(6,620)
(6,620)
Total assets $ (36,583,628) $ 14,412,020 $ 30,620,003 $ 11,635,222 $ 15,327,592 $ 56,308,777 $ 23,589,001 $ 51,771 59 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Third and LeConte
Mercy Housing Mercy Housing California XXXVIII, Mercy Housing Mercy Housing Associates LP Mercy Housing California XXXIX, LP California XL, LP LP (East Leland California XLII, LP California XLIV, LP (Bayview Hill Caroline Severance Calwest (Gleason Park) (Arlington Hotel) Courts) (Boulevard Court) (1180 Fourth Street) Gardens) LLC Liabilities
Current liabilities
Accounts payable and accrued expenses $ 2,780 $ 95,976 $ 401,700 $ 113,419 $ 121,960 $ 428,554 $ 150,307 $ 1,118 Due to affiliates 1,149,164 51,382 8,980 11,418 138,372 78,176 166,665 78,238 Accrued interest - - - 2,505 - 5,310 - -
Accrued interest, affiliates -
Current portion of notes payable 50,459 79,954
Current portion of notes payable, affiliates - - - - - - Deferred revenue and other liabilities 23,217 422,176 2,229 598,208 695,643 21,667 Tenant security deposits 57,038 39,178 60,540 24,184 133,042 14,625 Total current liabilities 1,151,944 227,613 872,034 240,570 882,724 1,420,679 353,264 79,356 Long-term liabilities
Due to affiliates - - - - -
Accrued interest 6,495,205 2,486,043 857,889 2,272,517 2,367,542 Accrued interest, affiliates - - - - -
Notes payable, less current portion, net 1,187,838 21,311,484 33,495,663 11,431,843 10,779,339 37,332,600 18,110,711 Notes payable, less current portion, affiliates 1,139,500 1,201,238 - - - - - Deferred revenue and other liabilities - 2,000 7,033,544 1,355 6,254,839 10,000 Total long-term liabilities 2,327,338 22,514,722 47,024,412 13,919,241 17,892,067 39,615,117 20,478,253 Total liabilities 3,479,282 22,742,335 47,896,446 14,159,811 18,774,791 41,035,796 20,831,517 79,356 Net assets
Net assets without donor restrictions, controlling (40,062,910) (8,330,315) (17,276,443) (2,524,589) (3,447,199) 15,272,981 2,757,484 (27,585) Net assets without donor restrictions, noncontrolling - - Total net assets without donor restrictions (40,062,910) (8,330,315) (17,276,443) (2,524,589) (3,447,199) 15,272,981 2,757,484 (27,585) Net assets with donor restrictions -
Total net assets (40,062,910) (8,330,315) (17,276,443) (2,524,589) (3,447,199) 15,272,981 2,757,484 (27,585) Total liabilities and net assets $ (36,583,628) $ 14,412,020 $ 30,620,003 $ 11,635,222 $ 15,327,592 $ 56,308,777 $ 23,589,001 $ 51,771 60 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing 1100 Ocean
Mercy Housing Mercy Housing California 52,LP Avenue Limited 55 Laguna, LP California XLIII, LP Mercy Housing California 53, LP (School House Partnership (1100 (Open House (Caroline Severance California 47, LP Madonna Senior (Madonna Station -Vista Ocean Avenue Community at 55 Manor) 7th & H GP, LLC (7th & H Street) Housing LLC Residences) Grande) Apts.) Laguna) Assets
Current assets
Cash and cash equivalents $ 101,619 $
Cash, tenant security deposits 102,867
Cash, restricted -
Investments
Investments, restricted -
Accounts receivable, net 6,058
Due from affiliate, net -
Pledges receivable, net
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates - Prepaid expenses and other assets 52,086
Inventory -
Assets held for sale -
Total current assets 262,630
Property and equipment
Land and land improvements 3,897,034
Buildings 27,241,564
Furniture and equipment 513,330
Predevelopment project costs -
Construction in progress -
Accumulated depreciation (8,893,353)
Net property and equipment 22,758,575
Other long-term assets
Restricted property reserves
Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net
Investments in limited partnerships, net
Notes and interest receivable, net
Notes and interest receivable, affiliates
Allowance for impaired assets
Other assets, net
Total other long-term assets
$ 135,181 $ $ 51,548 $ 616,627 $ 221,569 $ 808,333
68,478 60,382 90,985 53,618 33,143
605 - - 933,710 -
86,264 - 261,888 18,341 61,962 130,011
151,569 85,000 - -
60,221 35,526 33,666 48,245 59,264
151,569 350,749 85,000 409,344 759,619 1,319,104 1,030,751 4,434,686 - 5,722 20,714 1,278,420 2,037,195
36,005,174 11,321,773 20,582,982 29,669,712 23,423,671
949,532 314,516 181,140 982,720 481,726
(13,641,548) (4,283,723) (5,021,881) (6,129,965) (5,579,948) 27,747,844 7,358,288 15,762,955 25,800,887 20,362,644
593,981 4,135,711 3,778,702 672,468 1,428,849 398,432
14,205,607
42,182
42,815
28,926
1,020,893 5,692 23,673 2,156,907
636,163 14,205,607 4,178,526 28,926 4,799,595 678,160 1,452,522 2,555,339 Total assets $ 23,657,368 $ 14,357,176 $ 32,277,119 $ 113,926 $ 12,567,227 $ 17,200,734 $ 28,572,513 $ 23,948,734 61 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing 1100 Ocean
Mercy Housing Mercy Housing California 52,LP Avenue Limited 55 Laguna, LP California XLIII, LP Mercy Housing California 53, LP (School House Partnership (1100 (Open House (Caroline Severance California 47, LP Madonna Senior (Madonna Station -Vista Ocean Avenue Community at 55 Manor) 7th & H GP, LLC (7th & H Street) Housing LLC Residences) Grande) Apts.) Laguna) Liabilities
Current liabilities
Accounts payable and accrued expenses $ 163,968 $ 1,118 $ 317,546 $ 1,118 $ 615,128 $ 254,309 $ 122,854 $ 62,583 Due to affiliates 58,853 190,633 122,872 - 54,805 72,247 103,178 Accrued interest 12,616 - - 24,525 - -
Accrued interest, affiliates -
Current portion of notes payable 214,083 137,991 -
Current portion of notes payable, affiliates - - - - - - Deferred revenue and other liabilities 28,073 26,009 29,701 9,963 23,747 4,801 Tenant security deposits 105,272 66,069 56,884 89,488 53,308 30,593 Total current liabilities 582,865 191,751 409,624 123,990 701,713 571,081 272,156 201,155 Long-term liabilities
Due to affiliates - - - - - -
Accrued interest 3,682,288 813,989 1,344,152 621,243 1,433,898 1,725,979 Accrued interest, affiliates - 1,091,478
Notes payable, less current portion, net 16,222,103 10,947,009 9,134,371 7,276,525 17,350,137 7,912,073 Notes payable, less current portion, affiliates - - - 4,452,969 700,000 - Deferred revenue and other liabilities 150,021 446 848 15,000 148,467 Total long-term liabilities 20,054,412 11,760,998 10,478,969 13,443,063 19,499,035 9,786,519 Total liabilities 20, 637,277 191,751 12,170,622 123,990 11,180,682 14,014,144 19,771,191 9,987,674 Net assets
Net assets without donor restrictions, controlling 3,020,091 14,165,425 20,106,497 (10,064) 1,386,545 3,186,590 8,801,322 13,961,060 Net assets without donor restrictions, noncontrolling - - Total net assets without donor restrictions 3,020,091 14,165,425 20,106,497 (10,064) 1,386,545 3,186,590 8,801,322 13,961,060 Net assets with donor restrictions
Total net assets 3,020,091 14,165,425 20,106,497 (10,064) 1,386,545 3,186,590 8,801,322 13,961,060 Total liabilities and net assets $ 23,657,368 $ 14,357,176 $ 32,277,119 $ 113,926 $ 12,567,227 $ 17,200,734 $ 28,572,513 $ 23,948,734 62 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing
California 54, LP Mercy Housing California 56, LP Coastside Senior Esparto Family (Esperanza Sunset Lane California 55, LP (Jefferson Park Housing Limited El Monte Veterans El Monte Veterans Apartments, LLC Crossing) Apartments LLC (Trailside Terrace) Terrace) Partners, LP Apartments LLC Apartments, LP Assets
Current assets
Cash and cash equivalents $ $ 20,649 $ $ 27,975 $ 18,913 $ 537,455 $ $ 144,833 Cash, tenant security deposits 32,411 28,116 51,850 13,735 33,706 Cash, restricted - - - - 238,742 -
Investments -
Investments, restricted - - - -
Accounts receivable, net - 1,864 - 607 3,610 - 11,529
Due from affiliate, net 55,959 - 9,917 - 23,730 45
Pledges receivable, net - - - - -
Grants receivable - - -
Current portion of notes and interest receivable -
Current portion of notes and interest receivable, affiliates - - - - - Prepaid expenses and other assets 12,426 17,483 28,218 21,146 21,049 Inventory - - - - - - - -
Assets held for sale - - - - - -
Total current assets 55,959 67,350 9,917 74,181 98,981 814,688 23,730 211,162 Property and equipment
Land and land improvements 2,946,584 1,493,737 1,880,926 675,178 1,293,775 Buildings 8,432,461 10,301,452 15,279,985 13,057,001 10,071,330 Furniture and equipment 181,490 202,287 218,032 473,093 602,016 Predevelopment project costs - - - -
Construction in progress - 2,467 - -
Accumulated depreciation (3,287,447) (2,777,179) (5,020,797) (4,576,060) (3,427,643) Net property and equipment 8,273,088 9,222,764 12,358,146 9,629,212 8,539,478 Other long-term assets
Restricted property reserves 301,539 383,300 234,605 574,950 628,424 Long-term investments - -
Long-term investments, restricted
Due from affiliates -
Pledges receivable, net - - -
Investments in limited partnerships, net (282) (433) 82,335 - Notes and interest receivable, net - -
Notes and interest receivable, affiliates - -
Allowance for impaired assets - - - -
Other assets, net 15,771 17,036 29,341 52,796 - 22,626
Total other long-term assets
Total assets $
(282) 317,310 (433) 400,336 263,946 627,746 82,335 651,050 55,677 $ 8,657,748 $ 9,484 $ 9,697,281 $ 12,721,073 $ 11,071,646 $ 106,065 $ 9,401,690 63 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Liabilities
Current liabilities
Accounts payable and accrued expenses
Due to affiliates
Accrued interest
Accrued interest, affiliates
Current portion of notes payable
Current portion of notes payable, affiliates
Deferred revenue and other liabilities
Tenant security deposits
Total current liabilities
Mercy Housing Mercy Housing
California 54, LP Mercy Housing California 56, LP Coastside Senior Esparto Family (Esperanza Sunset Lane California 55, LP (Jefferson Park Housing Limited El Monte Veterans El Monte Veterans Apartments, LLC Crossing) Apartments LLC (Trailside Terrace) Terrace) Partners, LP Apartments LLC Apartments, LP $
1,118 $ 88,916 $ 1,118 $ 44,296 $ 128,787 $ 197,816 $ 1,118 $ 55,245 81,189 - 33,807 54,543 158,819 25,307 44,418 23,730
1,712 - 959 8,327 5,014 - -
98,575 23,126 37,846 56,440
2,771 23,397 9,384 1,994 878
31,425 27,711 50,049 12,920 33,204
82,307 223,399 34,925 174,032 393,212 299,491 45,536 113,057 Long-term liabilities
Due to affiliates - - - - -
Accrued interest 950,626 1,037,159 1,061,749 539,902 591,521 Accrued interest, affiliates - -
Notes payable, less current portion, net 3,937,993 4,479,764 5,647,980 3,925,333 4,043,464 Notes payable, less current portion, affiliates - - - 1,074,176 587,838 - - Deferred revenue and other liabilities - 174,167 1,178,070 - 2,883 Total long-term liabilities - 4,888,619 5,516,923 7,958,072 6,231,143 - 4,637,868 Total liabilities
82,307 5,112,018 34,925 5,690,955 8,351,284 6,530,634 45,536 4,750,925 Net assets
Net assets without donor restrictions, controlling (26,630) 3,545,730 (25,441) 4,006,326 4,369,789 4,541,012 60,529 4,650,765 Net assets without donor restrictions, noncontrolling - Total net assets without donor restrictions (26,630) 3,545,730 (25,441) 4,006,326 4,369,789 4,541,012 60,529 4,650,765 Net assets with donor restrictions
Total net assets
(26,630) 3,545,730 (25,441) 4,006,326 4,369,789 4,541,012 60,529 4,650,765 Total liabilities and net assets $ 55,677 $ 8,657,748 $ 9,484 $ 9,697,281 $ 12,721,073 $ 11,071,646 $ 106,065 $ 9,401,690 64 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing Mercy Housing
1028 Howard California 60, LP California XI, LP Mercy Eden House Transbay Block 6, California 62, LP Sunset Valley Street, LLC (Quinn Cottages) (Madison Place) LLC Eden House, L.P. LLC (280 Beale) Duplexes, LLC Assets
Current assets
Cash and cash equivalents $ 196,484 $ 58,522 $ 30,090 $ $ 424,502 $ $ 580,484 $ - Cash, tenant security deposits 27,449 9,284 33,757 83,580 66,449 Cash, restricted - - - - - 37,431 -
Investments - - -
Investments, restricted - - - - - -
Accounts receivable, net 2,809 5,373 1,721 - 9,849 - 118,301 - Due from affiliate, net - - 230,552 473 170,963 - 17,000 Pledges receivable, net - -
Grants receivable -
Current portion of notes and interest receivable -
Current portion of notes and interest receivable, affiliates - - - - - - Prepaid expenses and other assets 14,327 28,554 14,949 31,988 30,507 Inventory - - - - - -
Assets held for sale - - 639,440 - - -
Total current assets 241,069 101,733 719,957 230,552 550,392 170,963 833,172 17,000 Property and equipment
Land and land improvements - 1,216,886 - 1,060,410 985,629 Buildings 3,610,847 4,398,498 11,326,978 24,302,115
Furniture and equipment 109,838 302,250 - - 652,629 700,486 Predevelopment project costs - - - -
Construction in progress - - - - - 199
Accumulated depreciation (1,502,185) (1,807,584) 110 - (3,141,734) - (4,671,814) Net property and equipment 2,218,500 4,110,050 110 9,898,283 - 21,316,615 Other long-term assets
Restricted property reserves 732,475 3,066,048 223,233 2,325,796 834,158 Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net - - -
Investments in limited partnerships, net 634,329 500,274 573,994 Notes and interest receivable, net - -
Notes and interest receivable, affiliates - - 690,000 61 Allowance for impaired assets - - - - -
Other assets, net - 9,951 28,946 22,526
Total other long-term assets 732,475 3,075,999 223,233 634,329 2,354,742 1,190,274 856,684 574,055 Total assets $ 3,192,044 $ 7,287,782 $ 943,300 $ 864,881 $ 12,803,417 $ 1,361,237 $ 23,006,471 $ 591,055 65 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing Mercy Housing
1028 Howard California 60, LP California XI, LP Mercy Eden House Transbay Block 6, California 62, LP Sunset Valley Street, LLC (Quinn Cottages) (Madison Place) LLC Eden House, L.P. LLC (280 Beale) Duplexes, LLC Liabilities
Current liabilities
Accounts payable and accrued expenses $ 44,344 $ 77,162 $ 39,639 $ 1,118 $ 104,617 $ 1,118 $ 88,505 $ 1,138 Due to affiliates 5,922 150,000 - 2,647 162,715 142,473 113,538 Accrued interest 208 - 1,035 12,711 - 1,600 -
Accrued interest, affiliates - - -
Current portion of notes payable 34,305 35,629 139,057 - 35,397 Current portion of notes payable, affiliates - - - - -
Deferred revenue and other liabilities 3,846 4,852 1,734 33,880 10,829 Tenant security deposits 26,949 8,785 32,227 84,852 66,481 Total current liabilities 109,652 96,721 260,264 1,118 377,764 163,833 345,285 114,676 Long-term liabilities
Due to affiliates - - - - -
Accrued interest 1,261,614 661,577 1,688,612 40,591 2,516,150 Accrued interest, affiliates 861,012
Notes payable, less current portion, net 2,035,999 4,893,724 799,437 2,636,531 690,000 14,131,663 Notes payable, less current portion, affiliates - - - 3,100,000 - 690,000 Deferred revenue and other liabilities 4,750 2,814 3,335 15,000 Total long-term liabilities 3,297,613 5,560,051 2,490,863 6,641,469 690,000 17,352,813 Total liabilities 3,407,265 5,656,772 2,751,127 1,118 7,019,233 853,833 17,698,098 114,676 Net assets
Net assets without donor restrictions, controlling (215,221) 1,631,010 (1,807,827) 863,763 5,784,184 507,404 5,308,373 476,379 Net assets without donor restrictions, noncontrolling - Total net assets without donor restrictions (215,221) 1,631,010 (1,807,827) 863,763 5,784,184 507,404 5,308,373 476,379 Net assets with donor restrictions -
Total net assets (215,221) 1,631,010 (1,807,827) 863,763 5,784,184 507,404 5,308,373 476,379 Total liabilities and net assets $ 3,192,044 $ 7,287,782 $ 943,300 $ 864,881 $ 12,803,417 $ 1,361,237 $ 23,006,471 $ 591,055 66 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing
California 63, LP Mercy Housing Mercy Housing
(Sunset Valley Land Park Woods, California 68, LP Transbay Block 7, California 64, LP Mercy Mather Duplexes) 345 Arguello, LP LLC (Land Park Woods) 1800 Pine, LP LLC (Transbay Block 7) Veterans, LLC Assets
Current assets
Cash and cash equivalents $ 94,127 $ 550,800 $ $ 72,136 $ 846,699 $ $ 967,134 $ Cash, tenant security deposits 49,268 18,963 57,149 24,171 128,724 Cash, restricted - 127,386 - 386,871 2,087
Investments - - -
Investments, restricted - - - -
Accounts receivable, net 4,454 12,301 837 17,403 - 9,670 Due from affiliate, net - - - - 167,493 -
Pledges receivable, net
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates - - - - Prepaid expenses and other assets 23,822 38,316 21,490 60,296 99,224 Inventory - - - - - -
Assets held for sale - - -
Total current assets 171,671 747,766 151,612 1,335,440 167,493 1,206,839 Property and equipment
Land and land improvements 10,328,013 75,402 2,629,622 365,207 4,147,129 Buildings 13,232,248 27,903,759 9,890,258 33,009,794 58,948,414 Furniture and equipment 278,106 492,038 445,854 624,527 695,097 Predevelopment project costs - - - - -
Construction in progress - - - - -
Accumulated depreciation (4,149,742) (4,080,929) (2,644,369) (4,967,458) (6,702,253) Net property and equipment 19,688,625 24,390,270 10,321,365 29,032,070 57,088,387 Other long-term assets
Restricted property reserves 886,681 1,282,420
Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net
Investments in limited partnerships, net
Notes and interest receivable, net
Notes and interest receivable, affiliates
Allowance for impaired assets
Other assets, net 51,750 881,995
Total other long-term assets
Total assets
1,157,069 1,457,375 689,367
116,664 381,707 120,520
38,558 1,563,112 56,676
938,431 2,164,415 116,664 1,195,627 3,020,487 381,707 746,043 120,520 $ 20,798,727 $ 27,302,451 $ 116,664 $ 11,668,604 $ 33,387,997 $ 549,200 $ 59,041,269 $ 120,520 67 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Liabilities
Current liabilities
Accounts payable and accrued expenses
Due to affiliates
Accrued interest
Accrued interest, affiliates
Current portion of notes payable
Current portion of notes payable, affiliates
Deferred revenue and other liabilities
Tenant security deposits
Total current liabilities
$
Mercy Housing
California 63, LP Mercy Housing Mercy Housing
(Sunset Valley Land Park Woods, California 68, LP Transbay Block 7, California 64, LP Mercy Mather Duplexes) 345 Arguello, LP LLC (Land Park Woods) 1800 Pine, LP LLC (Transbay Block 7) Veterans, LLC 52,442 $ 86,752 $ - $ 57,755 $ 92,713 $ - $ 147,190 $ 441 8,500 45,286 12,568 - 89,040 94,435 171,723 16,605
187,729 - 396,806 - 7,802 -
104,960 115,906 159,485
1,203 1,312 19,725 8,550 37,713
48,798 18,157 56,645 23,628 130,826
110,943 444,196 12,568 134,125 726,643 94,435 654,739 17,046 Long-term liabilities
Due to affiliates - - -
Accrued interest 1,447,340 2,188,306 1,366,632
Accrued interest, affiliates 2,239 - -
Notes payable, less current portion, net 8,851,424 17,740,406 4,055,292 22,195,565 32,158,504 Notes payable, less current portion, affiliates 69,758 500,000 740,000 1,120,000 1,733,283 Deferred revenue and other liabilities - 1,484 17,348 - 45,000 Total long-term liabilities 10,370,761 18,241,890 7,000,946 23,315,565 35,303,419 Total liabilities 10,481,704 18,686,086 12,568 7,135,071 24,042,208 94,435 35,958,158 17,046 Net assets
Net assets without donor restrictions, controlling 10,317,023 8,616,365 104,096 4,533,533 9,345,789 454,765 23,083,111 103,474 Net assets without donor restrictions, noncontrolling - - Total net assets without donor restrictions 10,317,023 8,616,365 104,096 4,533,533 9,345,789 454,765 23,083,111 103,474 Net assets with donor restrictions
Total net assets 10,317,023 8,616,365 104,096 4,533,533 9,345,789 454,765 23,083,111 103,474 Total liabilities and net assets $ 20,798,727 $ 27,302,451 $ 116,664 $ 11,668,604 $ 33,387,997 $ 549,200 $ 59,041,269 $ 120,520 68 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing Laguna Senior
California 61, LP California 65, LP Housing, L.P. (95
(Mather Veterans Mercy Housing (The Arbor at Mercy Laguna LLC, Laguna Senior Village) California 65, LLC Hesperion) Plaza Maria, LLC GP Housing) JFK Tower, LP 2698 California, LP Assets
Current assets
Cash and cash equivalents $ 241,681 $ $ 321,374 $ 101,676 $ $ 376,350 $ 665,546 $ 562,266 Cash, tenant security deposits 11,987 64,412 72,234 92,130 24,962 9,742 Cash, restricted - 240,441 - - 2,839,626 - -
Investments
Investments, restricted - - -
Accounts receivable, net - - 39,764 9,292 - 58,125 17,799 6,365 Due from affiliate, net 10,481 102,411 115,644 - -
Pledges receivable, net - - -
Grants receivable -
Current portion of notes and interest receivable - -
Current portion of notes and interest receivable, affiliates - - - - Prepaid expenses and other assets 24,716 38,208 14,357 87,099 71,995 30,189 Inventory - - - -
Assets held for sale - - -
Total current assets 288,865 102,411 704,199 197,559 115,644 3,453,330 780,302 608,562 Property and equipment
Land and land improvements 1,112,787 2,991,331 750,000 - 1,700,519 512,587 245,919 Buildings 13,883,195 22,957,399 2,390,251 37,992,233 50,256,565 26,344,229 Furniture and equipment 434,035 437,132 7,108 643,584 943,205 488,807 Predevelopment project costs - - - - - -
Construction in progress - - - -
Accumulated depreciation (2,573,122) (3,445,012) (1,893,651) (2,857,169) (6,314,070) (3,366,200) Net property and equipment 12,856,895 22,940,850 1,253,708 37,479,167 45,398,287 23,712,755 Other long-term assets
Restricted property reserves 6,272,773 738,268 152,426 476,346 1,383,568 981,168 Long-term investments - - - - - -
Long-term investments, restricted
Due from affiliates
Pledges receivable, net - -
Investments in limited partnerships, net 701 134,862
Notes and interest receivable, net - -
Notes and interest receivable, affiliates
Allowance for impaired assets
Other assets, net 43,410 43,679 4,288,693 1,855,894 827,164 Total other long-term assets 6,316,183 701 781,947 152,426 134,862 4,765,039 3,239,462 1,808,332 Total assets $ 19,461,943 $ 103,112 $ 24,426,996 $ 1,603,693 $ 250,506 $ 45,697,536 $ 49,418,051 $ 26,129,649 69 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing Laguna Senior
California 61, LP California 65, LP Housing, L.P. (95
(Mather Veterans Mercy Housing (The Arbor at Mercy Laguna LLC, Laguna Senior Village) California 65, LLC Hesperion) Plaza Maria, LLC GP Housing) JFK Tower, LP 2698 California, LP Liabilities
Current liabilities
Accounts payable and accrued expenses $ 59,455 $ - $ 154,329 $ 24,811 $ (311) $ 108,457 $ 118,424 $ 175,921 Due to affiliates 40,771 67,978 72,060 3,859 128,149 122,696 45,322 45,323 Accrued interest - - 1,913 21,473 - - 337,024 214,481
Accrued interest, affiliates -
Current portion of notes payable 29,569 117,255 - 155,154 47,920 Current portion of notes payable, affiliates - - - - - - Deferred revenue and other liabilities 4,083 (1,263) 386 16,716 - 10,596 Tenant security deposits 11,575 64,082 71,738 90,764 24,487 9,551 Total current liabilities 115,884 67,978 320,690 239,522 127,838 338,633 680,411 503,792 Long-term liabilities
Due to affiliates - - -
Accrued interest 321,750 2,507,253 3,030,533
Accrued interest, affiliates - - - - -
Notes payable, less current portion, net 4,880,302 14,723,511 5,642,484 20,844,190 31,671,530 17,284,945 Notes payable, less current portion, affiliates 1,341,552 - - - 970,000 400,000 Deferred revenue and other liabilities - 931 495,047 1,384,705 259,466 Total long-term liabilities 6,543,604 17,230,764 5,643,415 24,369,770 34,026,235 17,944,411 Total liabilities 6,659,488 67,978 17,551,454 5,882,937 127,838 24,708,403 34,706,646 18,448,203 Net assets
Net assets without donor restrictions, controlling 12,802,455 35,134 6,875,542 (4,279,244) 122,668 20,989,133 14,711,405 7,681,446 Net assets without donor restrictions, noncontrolling - - Total net assets without donor restrictions 12,802,455 35,134 6,875,542 (4,279,244) 122,668 20,989,133 14,711,405 7,681,446 Net assets with donor restrictions - -
Total net assets 12,802,455 35,134 6,875,542 (4,279,244) 122,668 20,989,133 14,711,405 7,681,446 Total liabilities and net assets $ 19,461,943 $ 103,112 $ 24,426,996 $ 1,603,693 $ 250,506 $ 45,697,536 $ 49,418,051 $ 26,129,649 70 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing
California 66, LP Mercy Housing New Dana Strand
(Colma Veterans 455 Fell, LP (Parcel California 67, LP Historic Live Oak Mercy Housing Mercy Housing La IV, LP (Camino Del St Mary's Tower, Village) 0) (Columbia Park) (Odd Fellows) Camino GP, LLC Cienega, LLC Mar) LLC Assets
Current assets
Cash and cash equivalents $ 781,227 $ 219,573 $ 157,518 $ 40,719 $ Cash, tenant security deposits 28,151 125,649 60,331 8,931 Cash, restricted 5,232 248,356 - -
Investments - -
Investments, restricted - - -
Accounts receivable, net 8,375 105,963 20,386 12,665 -
Due from affiliate, net - - - 32,304
Pledges receivable, net -
Grants receivable
Current portion of notes and interest receivable -
Current portion of notes and interest receivable, affiliates - Prepaid expenses and other assets 52,001 107,237 27,878 4,278 Inventory - -
Assets held for sale - - - -
Total current assets 874,986 806,778 266,113 66,593 32,304 $ 1,879,612 $
84,926
221,697
90,250 345
84,438
94,826
2,371,311 84,783
Property and equipment
Land and land improvements 7,303,126 5,862,894 1,335,380 84,914 2,072,976 Buildings 28,146,995 58,122,598 15,878,271 2,791,081 28,571,399 Furniture and equipment 562,016 934,075 308,821 18,132 660,811 Predevelopment project costs - - - - -
Construction in progress - - - -
Accumulated depreciation (3,445,441) (5,535,413) (3,842,612) (1,294,600) (2,726,324) Net property and equipment 32,566,696 59,384,154 13,679,860 1,599,527 28,578,862 Other long-term assets
Restricted property reserves 1,693,902 880,234 405,856 59,671 595,938 Long-term investments - - - - - -
Long-term investments, restricted
Due from affiliates - - -
Pledges receivable, net - -
Investments in limited partnerships, net - (21) (100) - Notes and interest receivable, net -
Notes and interest receivable, affiliates - - -
Allowance for impaired assets - - - - -
Other assets, net 36,882 60,620 27,900 3,631,547
Total other long-term assets
(3,864,903)
1,730,784 940,854 433,756 59,671 (21) (100) 4,227,485 (3,864,903) Total assets $ 35,172,466 $ 61,131,786 $ 14,379,729 $ 1,725,791 $ 32,283 $ (100) $ 35,177,658 $ (3,780,120) 71 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing
California 66, LP Mercy Housing New Dana Strand
(Colma Veterans 455 Fell, LP (Parcel California 67, LP Historic Live Oak Mercy Housing Mercy Housing La IV, LP (Camino Del St Mary's Tower, Village) 0) (Columbia Park) (Odd Fellows) Camino GP, LLC Cienega, LLC Mar) LLC Liabilities
Current liabilities
Accounts payable and accrued expenses $ 86,425 $ 219,763 $ 61,971 $ 11,430 $ - $ - $ 79,907 $ - Due to affiliates 241,936 153,741 17,379 157,405 45,547 16,054 88,376 65,040 Accrued interest 33,969 19,473 12,544 21 - - 54,995 -
Accrued interest, affiliates - -
Current portion of notes payable 261,865 71,853 69,551 3,999 296,237 Current portion of notes payable, affiliates - - - - -
Deferred revenue and other liabilities 22,650 17,352 10,319 2,978 9,656 Tenant security deposits 27,651 123,550 59,832 7,964 80,991 Total current liabilities
674,496 605,732 231,596 183,797
45,547 16,054
610,162 65,040
Long-term liabilities
Due to affiliates - - - -
Accrued interest 679,520 588,399 168,154 530,426
Accrued interest, affiliates - - - -
Notes payable, less current portion, net 23,155,846 35,930,126 8,830,796 1,218,650 21,144,664 Notes payable, less current portion, affiliates - 1,500,000 4,000,000 - - Deferred revenue and other liabilities 904,917 478,552 1,175,993 Total long-term liabilities 24,740,283 38,497,077 12,998,950 1,218,650 22,851,083 Total liabilities 25,414,779 39,102,809 13,230,546 1,402,447 45,547 16,054 23,461,245 65,040 Net assets
Net assets without donor restrictions, controlling 9,757,687 22,028,977 1,149,183 323,344 (13,264) (16,154) 11,716,413 (3,845,160) Net assets without donor restrictions, noncontrolling - Total net assets without donor restrictions 9,757,687 22,028,977 1,149,183 323,344 (13,264) (16,154) 11,716,413 (3,845,160) Net assets with donor restrictions
Total net assets 9,757,687 22,028,977 1,149,183 323,344 (13,264) (16,154) 11,716,413 (3,845,160) Total liabilities and net assets $ 35,172,466 $ 61,131,786 $ 14,379,729 $ 1,725,791 $ 32,283 $ (100) $ 35,177,658 $ (3,780,120) 72 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing Mercy Housing Mercy Housing California 71, LP (St Francis of Assisi, California 69, LP 3001 24th Street California 59, LP California 48, LP Esperanza Mary's Tower) LLC (Francis of Assisi) LLC (Casa de la Mission) 623 Vernon, LLC (Lohse Apartments) Crossing 11, LLC GP Assets
Current assets
Cash and cash equivalents $ 769,887 $ $ 919,603 $ $ 318,203 $ $ 88,474 $ Cash, tenant security deposits 42,525 36,777 14,648 46,362 Cash, restricted - 52,167 129,955 91,021
Investments - -
Investments, restricted - - - -
Accounts receivable, net 19,020 - 100,222 170 124,493 - 2,338 - Due from affiliate, net 417 21,993 - - 71,029 - 1,857
Pledges receivable, net - - -
Grants receivable
Current portion of notes and interest receivable - - -
Current portion of notes and interest receivable, affiliates - - - - - - Prepaid expenses and other assets 64,009 47,331 8,741 30,606 Inventory - - - - - - -
Assets held for sale - - - - - -
Total current assets 895,858 21,993 1,156,100 170 596,040 71,029 258,801 1,857 Property and equipment
Land and land improvements 9,107,484 - 333,198 4,194,449 3,727,256 Buildings 26,734,452 22,416,853 24,249,223 21,788,371
Furniture and equipment 536,566 - 1,685,534 405,078 803,217 Predevelopment project costs - - - -
Construction in progress - - -
Accumulated depreciation (5,300,121) (5,363,304) (493,080) (3,310,417) Net property and equipment 31,078,381 - 19,072,281 28,355,670 23,008,427 Other long-term assets
Restricted property reserves
Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net
Investments in limited partnerships, net
Notes and interest receivable, net
Notes and interest receivable, affiliates
Allowance for impaired assets
Other assets, net
Total other long-term assets
810,230 2,771,337 462,178
103,761
(29,455,279) (69,634) 1,425,089 - 46,949
54,215 116,039 64,778
913,991 (29,455,279) 2,825,552 (69,634) 116,039 1,425,089 526,956 46,949 Total assets $ 32,888,230 $ (29,433,286) $ 23,053,933 $ (69,464) $ 29,067,749 $ 1,496,118 $ 23,794,184 $ 48,806 73 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing Mercy Housing Mercy Housing California 71, LP (St Francis of Assisi, California 69, LP 3001 24th Street California 59, LP California 48, LP Esperanza Mary's Tower) LLC (Francis of Assisi) LLC (Casa de la Mission) 623 Vernon, LLC (Lohse Apartments) Crossing II, LLC GP Liabilities
Current liabilities
Accounts payable and accrued expenses $ 254,191 $ - $ 304,939 $ - $ 202,814 $ - $ 37,394 $ - Due toaffiliates - 209,609 3,192 935,147 95,827 41,246 62,094 Accrued interest 67,547 - 82,053 - 64,355 - 2,856 -
Accrued interest, affiliates - - -
Current portion of notes payable 345,539 1,333,800 20,604,802 32,398 Current portion of notes payable, affiliates - 15,000 - Deferred revenue and other liabilities 6,939 12,085 1,520 4,883 Tenant security deposits 41,939 37,366 14,148 44,800
Total current liabilities 716,155 209,609 1,770,243 3,192 21,837,786 95,827 163,577 62,094 Long-term liabilities
Due to affiliates -
Accrued interest 863,781
Accrued interest, affiliates - -
Notes payable, less current portion, net 20,103,603 24,268,408 (9,784) 6,818,041 Notes payable, less current portion, affiliates - - 5,000,000 2,164,800 Deferred revenue and other liabilities 73,194 482,348 - - Total long-term liabilities 20,176,797 24,750,756 4,990,216 9,846,622 Total liabilities 20,892,952 209,609 26,520,999 3,192 26,828,002 95,827 10,010,199 62,094 Net assets
Net assets without donor restrictions, controlling 11,995,278 (29,642,895) (3,467,066) (72,656) 2,239,747 1,400,291 13,783,985 (13,288) Net assets without donor restrictions, noncontrolling - Total net assets without donor restrictions 11,995,278 (29,642,895) (3,467,066) (72,656) 2,239,747 1,400,291 13,783,985 (13,288) Net assets with donor restrictions
Total net assets
11,995,278 (29,642,895) (3,467,066) (72,656) 2,239,747 1,400,291 13,783,985 (13,288) Total liabilities and net assets $ 32,888,230 $ (29,433,286) $ 23,053,933 $ (69,464) $ 29,067,749 $ 1,496,118 $ 23,794,184 $ 48,806 74 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Candlestick Pointe
California 76, LP Mercy Sunnydale Parcel 11a, a California 20 North Mercy New Hope, Mercy Housing (Esperanza Transformation, LLC Q Housing Partners, Limited Partnership Cottonwood LLC LP (Woodland/180 California 74, LP Pico Robertson Crossing Phase II) GP LP (Candlestick) (GP) West Beamer) (Britton Street) LLC GP Assets
Current assets
Cash and cash equivalents $ 78,983 $ $ 1,613,497 $ - $ $ 95,448 $ 829,053 $ Cash, tenant security deposits 29,528 33,843 48,611 72,241 Cash, restricted 121,893 144,086 4,575 369,641 164,474
Investments - - -
Investments, restricted - -
Accounts receivable, net 3,979 - 27,086 34 12,588
Due from affiliate, net - 23,200 9,567 -
Pledges receivable, net -
Grants receivable
Current portion of notes and interest receivable -
Current portion of notes and interest receivable, affiliates - - - - Prepaid expenses and other assets 14,256 44,207 387,500 36,163 42,180 Inventory - - - - - -
Assets held for sale - - - - -
Total current assets 248,639 23,200 1,872,286 392,075 549,897 1,120,536 Property and equipment
Land and land improvements 1,713,183 - 1,644,910 - 2,883,622 2,786,651 Buildings 9,258,022 37,049,990 19,519,961 33,866,419
Furniture and equipment 181,882 - 798,647 559,640 446,889 Predevelopment project costs - - - - -
Construction in progress - 2,178,828 -
Accumulated depreciation (1,883,643) (2,445,754) - (3,220,529) (5,935,548) Net property and equipment 9,269,444 37,047,793 2,178,828 19,742,694 31,164,411 Other long-term assets
Restricted property reserves 168,230 826,769 3,395,695 1,703,002 Long-term investments -
Long-term investments, restricted
Due from affiliates
Pledges receivable, net - - -
Investments in limited partnerships, net (278) (191) - (246) Notes and interest receivable, net - - -
Notes and interest receivable, affiliates 4,142,950
Allowance for impaired assets - - - -
Other assets, net 17,582 107,588 75,850 55,071
Total other long-term assets 185,812 (278) 934,357 4,142,759 3,471,545 1,758,073 (246) Total assets $ 9,703,895 $ 22,922 $ 39,854,436 $ 2,570,903 $ 4,142,759 $ 23,764,136 $ 34,043,020 $ (246) 75 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Candlestick Pointe
California 76, LP Mercy Sunnydale Parcel 11a, a California 20 North Mercy New Hope, Mercy Housing (Esperanza Transformation, LLC Q Housing Partners, Limited Partnership Cottonwood LLC LP (Woodland/180 California 74, LP Pico Robertson Crossing Phase II) GP LP (Candlestick) (GP) West Beamer) (Britton Street) LLC GP Liabilities
Current liabilities
Accounts payable and accrued expenses $ 38,292 $ - $ 137,390 $ 6,138 $ - $ 106,264 $ 125,389 $ - Due toaffiliates 109,101 10,172 1,221 19,239 11,591 63,327 62,089 10,960 Accrued interest 5,404 - 19,409 - - - 42,460 -
Accrued interest, affiliates - -
Current portion of notes payable 54,933 81,672 - 433,357 Current portion of notes payable, affiliates - - 3,408 - - Deferred revenue and other liabilities 6,632 58,159 - 2,136 45,546 Tenant security deposits 29,285 33,493 46,042 66,784
Total current liabilities 243,647 10,172 331,344 28,785 11,591 217,769 775,625 10,960 Long-term liabilities
Due to affiliates - - - - -
Accrued interest 604,279 968,382 241,892 533,989 1,359,268 Accrued interest, affiliates - 231,054
Notes payable, less current portion, net 6,478,553 19,114,166 2,325,672 5,595,312 24,385,573 Notes payable, less current portion, affiliates 50,000 - - 4,925,259 5,005,485 Deferred revenue and other liabilities - -
Total long-term liabilities 7,132,832 20,082,548 2,567,564 11,285,614 30,750,326 Total liabilities 7,376,479 10,172 20,413,892 2,596,349 11,591 11,503,383 31,525,951 10,960 Net assets
Net assets without donor restrictions, controlling 2,327,416 12,750 19,440,544 (25,446) 4,131,168 12,260,753 2,517,069 (11,206) Net assets without donor restrictions, noncontrolling - - Total net assets without donor restrictions 2,327,416 12,750 19,440,544 (25,446) 4,131,168 12,260,753 2,517,069 (11,206) Net assets with donor restrictions
Total net assets 2,327,416 12,750 19,440,544 (25,446) 4,131,168 12,260,753 2,517,069 (11,206) Total liabilities and net assets $ 9,703,895 $ 22,922 $ 39,854,436 $ 2,570,903 $ 4,142,759 $ 23,764,136 $ 34,043,020 $ (246) 76 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing
California 73, LP Baldwin Rose LLC,
(Pico Robertson) GP
Baldwin Rose LP
Mercy Housing
California 78, LP Mercy Housing Mercy Housing
(Mission Bay Block California 75, LP Placentia Veterans Placentia Veterans California 82, LP 6) (Dorothy Day) Village, LLC GP Village, LP (Treasure Island) Assets
Current assets
Cash and cash equivalents $ 58,843 $ $ 86,691 $ 889,630 $ 1,779,832 $ $ 373,889 $ Cash, tenant security deposits 47,176 81,318 186,324 41,285 80,833 - Cash, restricted 6,998 51,719 512,326 160,066 23,116 48,188 Investments - - - - -
Investments, restricted - - - -
Accounts receivable, net 93,075 - 5,101 47,784 8,146 800 74,176 - Due from affiliate, net - 33,039 - - - -
Pledges receivable, net - - -
Grants receivable - - - -
Current portion of notes and interest receivable - - - - - Current portion of notes and interest receivable, affiliates - - - - Prepaid expenses and other assets 26,878 38,149 110,643 40,130 102,433 450,000 Inventory - - - -
Assets held for sale - - - - - -
Total current assets 232,970 33,039 262,978 1,746,707 2,029,459 800 654,447 498,188 Property and equipment
Land and land improvements 926,421 5,133,769 4,967,385 2,158,784 3,641,991 - Buildings 25,159,556 25,959,312 108,143,564 31,160,772 17,354,391 Furniture and equipment 538,796 420,564 1,037,835 520,443 585,338 Predevelopment project costs - - - - - -
Construction in progress - - - - 3,243,494
Accumulated depreciation (1,399,654) (2,426,540) (3,141,705) (3,229,383) (1,208,052) - Net property and equipment 25,225,119 29,087,105 111,007,079 30,610,616 20,373,668 3,243,494 Other long-term assets
Restricted property reserves 256,900 417,826 1,071,467 1,013,603 Long-term investments - - - - -
Long-term investments, restricted
Due from affiliates - -
Pledges receivable, net - -
Investments in limited partnerships, net (86) (32) -
Notes and interest receivable, net -
Notes and interest receivable, affiliates - -
Allowance for impaired assets - - - - -
Otherassets,net 82,670 109,701 106,000 90,372 3,109,112 42,200 Total other long-term assets
Total assets
339,570 (86) 527,527 106,000 1,161,839 (32) 4,122,715 42,200 $ 25,797,659 $ 32,953 $ 29,877,610 $ 112,859,786 $ 33,801,914 $ 768 $ 25,150,830 $ 3,783,882 77 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing
California 73, LP Baldwin Rose LLC,
(Pico Robertson) GP
Baldwin Rose LP
Mercy Housing
California 78, LP Mercy Housing Mercy Housing
(Mission Bay Block California 75, LP Placentia Veterans Placentia Veterans California 82, LP 6) (Dorothy Day) Village, LLC GP Village, LP (Treasure Island) Liabilities
Current liabilities
Accounts payable and accrued expenses $ 62,224 $ - $ 148,015 $ 544,316 $ 193,901 $ - $ 70,943 $ 94,692 Due to affiliates 331,801 44,164 440,016 5,513,534 76,488 9,556 184,775 8,780 Accrued interest - - 12,356 82,706 85,978 - - -
Accrued interest, affiliates - -
Current portion of notes payable - 85,785 59,896,090 644,025 112,462 - Current portion of notes payable, affiliates 11,710 103,594 - - - 541,023 Deferred revenue and other liabilities 14,246 15,967 30,346 2,963 1,827 - Tenant security deposits 46,676 80,982 185,680 40,783 80,333 Total current liabilities 466,657 44,164 886,715 66,252,672 1,044,138 9,556 450,340 644,495 Long-term liabilities
Due to affiliates
Accrued interest
Accrued interest, affiliates
Notes payable, less current portion, net
Notes payable, less current portion, affiliates
Deferred revenue and other liabilities
Total long-term liabilities
Total liabilities
119,025 439,370 911,271 120,408 125,415
4,389,914 9,304,381 39,370,117 20,087,313 5,672,938 3,028,102 3,800,000 - 4,511,304 - - -
1,223,530 313,092 1,179,940 1,448,536 3,535,955
9,532,469 10,056,843 45,972,632 21,535,849 9,329,301 3,153,517 9,999,126 44,164 10,943,558 112,225,304 22,579,987 9,556 9,779,641 3,798,012 Net assets
Net assets without donor restrictions, controlling 15,798,533 (11,211) 18,934,052 634,482 11,221,927 (8,788) 15,371,189 (14,130) Net assets without donor restrictions, noncontrolling - Totalnetassetswithoutdonorrestrictions 15,798,533 (11,211) 18,934,052 634,482 11,221,927 (8,788) 15,371,189 (14,130) Net assets with donor restrictions
Total net assets 15,798,533 (11,211) 18,934,052 634,482 11,221,927 (8,788) 15,371,189 (14,130) Total liabilities and net assets $ 25,797,659 $ 32,953 $ 29,877,610 $ 112,859,786 $ 33,801,914 $ 768 $ 25,150,830 $ 3,783,882 78 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
1064 Mission
1064 Mission LLC, Homeless Services 833 Bryant, LLC 833 Bryant, LP Villa de Vida GP GP Center LLC GP (Tipping Point) LLC
Villa de Vida
Mercy Housing
1721 West Capitol California 87, LP
LLC (West Capitol)
Assets
Current assets
Cash and cash equivalents $ $ - $ $ 353,013 $ $ 240,094 $ $ 8,104 Cash, tenant security deposits - 11,000 73,112
Cash, restricted 333 165,491 167,029 212,116
Investments - - -
Investments, restricted - -
Accounts receivable, net 1,597,560 51,982 89,661 187,933 Due from affiliate, net - -
Pledges receivable, net
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates - - - Prepaid expenses and other assets 3,654 15,332
Inventory - - - - -
Assets held for sale - - - -
Total current assets 1,597,893 585,140 585,228 408,153
Property and equipment
Land and land improvements
Buildings
Furniture and equipment
Predevelopment project costs
Construction in progress
Accumulated depreciation
Net property and equipment
10,681,484
1,878,121 6,222,001 3,136,290
52,001,891 18,827,351 28,010,998
1,082,615 495,810 438,147
(243,309) (441,475) - (189,950)
10,681,484 - 54,719,318 25,103,687 - 31,395,485
Other long-term assets
Restricted property reserves 3,843,894 2,464,571 44,576 Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net - - - -
Investments in limited partnerships, net (4,060) - (6,626) (10) 1,557,756 Notes and interest receivable, net - - -
Notes and interest receivable, affiliates - - - - -
Allowance for impaired assets - - - - - -
Other assets, net 27,377 101,404 135,067
Total other long-term assets (4,060) (6,626) 3,871,271 (10) 2,565,975 1,557,756 179,643 Total assets $ (4,060) $ 12,279,377 $ (6,626) $ 59,175,729 $ (10) $ 28,254,890 $ 1,557,756 $ 31,983,281 79 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Liabilities
Current liabilities
Accounts payable and accrued expenses
Due to affiliates
Accrued interest
Accrued interest, affiliates
Current portion of notes payable
Current portion of notes payable, affiliates
Deferred revenue and other liabilities
Tenant security deposits
Total current liabilities
1064 Mission
1064 Mission LLC, Homeless Services 833 Bryant, LLC 833 Bryant, LP Villa de Vida GP GP Center LLC GP (Tipping Point) LLC
$
Villa de Vida
Mercy Housing
1721 West Capitol California 87, LP
LLC (West Capitol)
- $ 1,486,902 $ (311) $ 2,120,249 $ - $ 355,782 $ - $ 4,885,416 3,362 110,991 5,985 6,462,737 4,528 527,547 4,413 1,284,988 - - - 309,804 - 28,493 - 26,317
50,646,739 16,802,047 18,614,603
- - 25,010
2,253 4,847 457
12,327 74,626 32,633
3,362 1,597,893 5,674 59,554,109 4,528 17,793,342 4,413 24,869,424 Long-term liabilities
Due to affiliates -
Accrued interest 484,970
Accrued interest, affiliates - - -
Notes payable, less current portion, net (2,158,104) 8,672,419 3,166,371 Notes payable, less current portion, affiliates - - 850,000 Deferred revenue and other liabilities 599,997 -
Total long-term liabilities (2,158,104) 9,757,386 4,016,371 Total liabilities 3,362 1,597,893 5,674 57,396,005 4,528 27,550,728 4,413 28,885,795 Net assets
Net assets without donor restrictions, controlling (7,422) 10,681,484 (12,300) 1,779,724 (4,538) 704,162 1,553,343 3,097,486 Net assets without donor restrictions, noncontrolling - Total net assets without donor restrictions (7,422) 10,681,484 (12,300) 1,779,724 (4,538) 704,162 1,553,343 3,097,486 Net assets with donor restrictions
Total net assets
Total liabilities and net assets $
(7,422) 10,681,484 (12,300) 1,779,724 (4,538) 704,162 1,553,343 3,097,486 (4,060) $ 12,279,377 $ (6,626) $ 59,175,729 $ (1g $ 28,254,890 $ 1,557,756 $ 31,983,281 80 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing Mercy Housing Mercy Housing Mercy Housing Sunnydale Block 6 Sunnydale Block 6 California 84, LP 1121 9th Street California 90, LP California 94 LLC California 94, LP California 83, LP Development CO Housing (Bennett House) LLC, GP (Capital Park) GP (Sherman Oaks) (Bermuda Gardens) LLC GP Partnership, LP Assets
Current assets
Cash and cash equivalents $ 473,202 $ $ - $
Cash, tenant security deposits 28,814 -
Cash, restricted 152,470 139,423
Investments -
Investments, restricted -
Accounts receivable, net 973 -
Due from affiliate, net 15,183 800
Pledges receivable, net -
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates - Prepaid expenses and other assets 26,737
Inventory -
Assets held for sale
Total current assets
100 $ 824,826 $ $ 686
60,152
59,288 508,905 587,937
6,497
697,379 140,223 65,885
70,933
30,941
79,609
1,495,757 668,232
Property and equipment
Land and land improvements 518,053 2,145,039 2,700,000 1,888,972 14,704,283 Buildings 16,219,290 7,911,772 23,608,987 111,961,657
Furniture and equipment 541,577 340 26,021 871,819 1,192,265 Predevelopment project costs - - - - -
Construction in progress - 22,981,930 7,367,647 -
Accumulated depreciation (996,018) - (736,558) (574,968) Net property and equipment 16,282,902 33,039,081 10,093,668 25,633,220 127,283,237 Other long-term assets
Restricted property reserves
Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net
Investments in limited partnerships, net
Notes and interest receivable, net
Notes and interest receivable, affiliates
Allowance for impaired assets
Other assets, net
Total other long-term assets
Total assets
729,115 9,500,556 1,500,000
98 (10,409)
(13,758)
41,180 107,000 10,653 92,657 134,216
770,295 98 9,607,556 (10,409) 10,653 1,592,657 (13,758) 134,216 $ 17,750,576 $
98 $ 42,786,860 $ (10,409) $ 10,170,206 $ 28,721,634 $ (13,758) $ 128,085,685 81 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing Mercy Housing Mercy Housing Mercy Housing Sunnydale Block 6 Sunnydale Block 6 California 84, LP 1121 9th Street California 90, LP California 94 LLC California 94, LP California 83, LP Development CO Housing (Bennett House) LLC, GP (Capital Park) GP (Sherman Oaks) (Bermuda Gardens) LLC GP Partnership, LP Liabilities
Current liabilities
Accounts payable and accrued expenses $ 294,601 $ - $ 4,476,795 $ - $ 2,343,634 $ 293,054 $ - $ 6,288,303 Due to affiliates 34,773 3,680 599,386 2,004 138,412 4,337,626 1,234 1,871,242 Accrued interest 32,464 - 46,610 - 11,987 23,150 - -
Accrued interest, affiliates - -
Current portion of notes payable 589,061 - 3,120,999 22,833,469 - Current portion of notes payable, affiliates - 453 - 8,880 Deferred revenue and other liabilities 4,039 2 22,545 15,001 Tenant security deposits 28,682 60,608 -
Total current liabilities 983,620 3,680 5,122,791 2,004 5,615,487 27,570,452 1,234 8,183,426 Long-term liabilities
Due to affiliates - -
Accrued interest - 133,713 1,319,301
Accrued interest, affiliates 49,100 - - -
Notes payable, less current portion, net 10,327,938 705 33,109,996 4,021,539 2,798,225 108,801,033 Notes payable, less current portion, affiliates 972,007 - 1,340,000 - 1,500,000 - Deferred revenue and other liabilities 2,698,894 2,745 5,064,018 Total long-term liabilities 14,047,939 705 34,449,996 4,021,539 4,434,683 115,184,352 Total liabilities 15,031,559 4,385 39,572,787 2,004 9,637,026 32,005,135 1,234 123,367,778 Net assets
Net assets without donor restrictions, controlling 2,719,017 (4,287) 3,214,073 (12,413) 533,180 (3,283,501) (14,992) 4,717,907 Net assets without donor restrictions, noncontrolling - Total net assets without donor restrictions 2,719,017 (4,287) 3,214,073 (12,413) 533,180 (3,283,501) (14,992) 4,717,907 Net assets with donor restrictions
Total net assets 2,719,017 (4,287) 3,214,073 (12,413) 533,180 (3,283,501) (14,992) 4,717,907 Total liabilities and net assets $ 17,750,576 $ 98 $ 42,786,860 $ (10,409) $ 10,170,206 $ 28,721,634 $ (13,758) $ 128,085,685 82 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing
California 95 LLC Mercy Housing Mercy Housing Cailifornia 96, LP GP (Long Beach California 95, LP California 97, LP Mercy HPSY Block Hunters Point Block Middlefield Junction (Middlefield GP) (Long Beach) 600 7th Street GP (600 7th Street) 56 LLC 56, LP LLC GP Junction) Assets
Current assets
Cash and cash equivalents $ $ - $ $ 406 $ $ 242,151 $ $ 610,709 Cash, tenant security deposits - - -
Cash, restricted 60,926
Investments -
Investments, restricted
Accounts receivable, net
Due from affiliate, net
Pledges receivable, net -
Grants receivable -
Current portion of notes and interest receivable -
Current portion of notes and interest receivable, affiliates - - Prepaid expenses and other assets 550,000 195,000
Inventory - - - - -
Assets held for sale - - - -
Total current assets
60,926 550,406 437,151 610,709
Property and equipment
Land and land improvements 2,955,777
Buildings -
Furniture and equipment
Predevelopment project costs -
Construction in progress 2,390,616 2,165,817
Accumulated depreciation -
Net property and equipment
5,346,393 2,165,817
Other long-term assets
Restricted property reserves
Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net
Investments in limited partnerships, net 29,994
Notes and interest receivable, net
Notes and interest receivable, affiliates
Allowance for impaired assets
Other assets, net 25,822
(1)
2,200
(5,893)
1,527,122
2,933,984
1,527,122 - 2,933,984
(3)
Total other long-term assets 29,994 25,822 (1) 2,200 (5,893) (3) Total assets $ 29,994 $ 5,433,141 $ (1) $ 2,718,423 $ (5,893) $ 1,964,273 $ (3) $ 3,544,693 83 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing
California 95 LLC Mercy Housing Mercy Housing Cailifornia 96, LP GP (Long Beach California 95, LP California 97, LP Mercy HPSY Block Hunters Point Block Middlefield Junction (Middlefield GP) (Long Beach) 600 7th Street GP (600 7th Street) 56 LLC 56, LP LLC GP Junction) Liabilities
Current liabilities
Accounts payable and accrued expenses $ - $ 24,516 $ - $ 228,322 $ - $ 217,991 $ - $ 6,409 Due to affiliates 1,884 24,830 934 2,762 934 5,406 934 17,893 Accrued interest - - - - - - -
Accrued interest, affiliates 2,170
Current portion of notes payable - - - - -
Current portion of notes payable, affiliates 3,314,266 62,374 - 729,585 Deferred revenue and other liabilities - -
Tenant security deposits
Total current liabilities 1,884 3,365,782 934 231,084 934 285,771 934 753,887 Long-term liabilities
Due to affiliates - - - -
Accrued interest 54,642 23,926
Accrued interest, affiliates - - - -
Notes payable, less current portion, net (100,162) 2,443,589 1,664,564 2,824,582 Notes payable, less current portion, affiliates 2,200,000 - - - - Deferred revenue and other liabilities - -
Total long-term liabilities 2,099,838 2,498,231 1,688,490 2,824,582 Total liabilities 1,884 5,465,620 934 2,729,315 934 1,974,261 934 3,578,469 Net assets
Net assets without donor restrictions, controlling 28,110 (32,479) (935) (10,892) (6,827) (9,988) (937) (33,776) Net assets without donor restrictions, noncontrolling
Total net assets without donor restrictions 28,110 (32,479) (935) (10,892) (6,827) (9,988) (937) (33,776) Net assets with donor restrictions
Total net assets 28,110 (32,479) (935) (10,892) (6,827) (9,988) (937) (33,776) Total liabilities and net assets $ 29,994 $ 5,433,141 $ (1) $ 2,718,423 $ (5,893) $ 1,964,273 $ (3) $ 3,544,693 84 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing Mercy Housing
Mercy Housing California 99, LP Mercy Housing California 100, LP 7789 La Mancha Mercy Housing California 103, LP 231 Grant Ave LLC California 99 LLC (North Auburn) California 100 GP (Whittier) Way LLC California 103 GP (Laguna Honda) (Palo Alto) Assets
Current assets
Cash and cash equivalents $ $ 1,307,295 $ $ 125,409 $ 341,712 $ $ 48,828 $ 608,640 Cash, tenant security deposits - - 5,000 -
Cash, restricted 1,046,222
Investments -
Investments, restricted - -
Accounts receivable, net 100,000 203,310
Due from affiliate, net
Pledges receivable, net
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates Prepaid expenses and other assets 9,914 120,246 100,000 Inventory - - - - - -
Assets held for sale - - - - -
Total current assets 1,417,209 125,409 1,716,490 148,828 608,640 Property and equipment
Land and land improvements 2,449,527 2,021,934 2,816,652 Buildings 30,614,684 - 14,655,848
Furniture and equipment 350,445 335,941
Predevelopment project costs - -
Construction in progress 80,494 1,317,949 195,451
Accumulated depreciation (50,458) - (433,299)
Net property and equipment 33,444,692 3,339,883 17,570,593 Other long-term assets
Restricted property reserves 50,000
Long-term investments -
Long-term investments, restricted
Due from affiliates -
Pledges receivable, net - -
Investments in limited partnerships, net 89 5 - (1)
Notes and interest receivable, net -
Notes and interest receivable, affiliates - - -
Allowance for impaired assets - - -
Other assets, net 118,387 153,807
Total other long-term assets 89 118,387 5 153,807 50,000 (1) 386,096
386,096
1,060,064
1,060,064
Total assets $ 89 $ 34,980,288 $ 5 $ 3,619,099 $ 19,337,083 $ (1) $ 534,924 $ 1,668,704 85 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing Mercy Housing
Mercy Housing California 99, LP Mercy Housing California 100, LP 7789 La Mancha Mercy Housing California 103, LP 231 Grant Ave LLC California 99 LLC (North Auburn) California 100 GP (Whittier) Way LLC California 103 GP (Laguna Honda) (Palo Alto) Liabilities
Current liabilities
Accounts payable and accrued expenses $ - $ 6,488,132 $ - $ 139,850 $ 537,992 $ $ 68,634 $ 352,852 Due to affiliates 3,584 1,226,073 934 15,768 10,078 869 - Accrued interest - 43,593 - - -
Accrued interest, affiliates
Current portion of notes payable 24,521,916 - - - -
Current portion of notes payable, affiliates - 1,312,421 3,474 38,646 260,792 Deferred revenue and other liabilities - 19,852 - -
Tenant security deposits 3,406
Total current liabilities 3,584 32,279,714 934 1,468,039 574,802 108,149 613,644 Long-term liabilities
Due to affiliates - - -
Accrued interest 5,661
Accrued interest, affiliates - - - - - -
Notes payable, less current portion, net (337,313) 2,098,792 1,760,741 427,293 500,000 Notes payable, less current portion, affiliates - - - - - - Deferred revenue and other liabilities - - - -
Total long-term liabilities (337,313) 2,098,792 1,760,741 - 432,954 500,000 Total liabilities 3,584 31,942,401 934 3,566,831 2,335,543 541,103 1,113,644 Net assets
Net assets without donor restrictions, controlling (3,495) 3,037,887 (929) 52,268 17,001,540 (1) (6,179) 555,060 Net assets without donor restrictions, noncontrolling - Total net assets without donor restrictions (3,495) 3,037,887 (929) 52,268 17,001,540 (1) (6,179) 555,060 Net assets with donor restrictions -
Total net assets (3,495) 3,037,887 (929) 52,268 17,001,540 (1) (6,179) 555,060 Total liabilities and net assets $ 89 $ 34,980,288 $ 5 $ 3,619,099 $ 19,337,083 $ (1) $ 534,924 $ 1,668,704 86 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing
Mercy Kimball Mercy Morgan Richmond Richmond California 89 LLC Transbay 2 Family Development GP Development GP Hacienda GP Hacienda MHCA 89 GP (6th & San Julian) GP Transbay 2 Family Assets
Current assets
Cash and cash equivalents
Cash, tenant security deposits
Cash, restricted
Investments
Investments, restricted
Accounts receivable, net
Due from affiliate, net
Pledges receivable, net
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates Prepaid expenses and other assets
Inventory
Assets held for sale
Total current assets
Property and equipment
Land and land improvements
Buildings
Furniture and equipment
Predevelopment project costs
Construction in progress
Accumulated depreciation
Net property and equipment
Other long-term assets
Restricted property reserves
Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net
Investments in limited partnerships, net 1,473,469
Notes and interest receivable, net
Notes and interest receivable, affiliates
Allowance for impaired assets
Other assets, net
Total other long-term assets
$ $ $ $ $ - $ $ 110
1,854,049 75
520,641 - 1,245,080
5,000
6,795,336 165,000
520,641 8,040,416 170,110
540,475 6,452,430 - -
3,529,451
183,553 - -
26,937,355 12,988,586 - 136,939
31,190,834 19,441,016 - 136,939
673
42,972
100
26,121
1,473,469 1,854,049 75 43,645 100 26,121
Total assets $ 1,473,469 $ 1,854,049 $ 75 $ 31,755,120 $ 100 $ 27,507,553 $ $ 307,049 87 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing
Mercy Kimball Mercy Morgan Richmond Richmond California 89 LLC Transbay 2 Family Development GP Development GP Hacienda GP Hacienda MHCA 89 GP (6th & San Julian) GP Transbay 2 Family Liabilities
Current liabilities
Accounts payable and accrued expenses $ $ - $ - $ 9,241,113 $ - $ 2,512,650 $ $ Due to affiliates 75 456,813 100 1,829,342
Accrued interest - 10,900 - -
Accrued interest, affiliates -
Current portion of notes payable - - -
Current portion of notes payable, affiliates 4,435 1,424,819 8,304 Deferred revenue and other liabilities -
Tenant security deposits
Total current liabilities 75 9,713,261 100 5,766,811 8,304 Long-term liabilities
Due to affiliates - - -
Accrued interest 48,361 28,126 1,345
Accrued interest, affiliates 142,917 - -
Notes payable, less current portion, net 10,750,483 19,400,597 298,270 Notes payable, less current portion, affiliates 7,000,000 - Deferred revenue and other liabilities 897,519 133,617 - Total long-term liabilities 18,839,280 19,562,340 299,615 Total liabilities 75 28,552,541 100 25,329,151 307,919
Net assets
Net assets without donor restrictions, controlling 1,473,469 1,854,049 3,202,579 2,178,402 (870) Net assets without donor restrictions, noncontrolling - Total net assets without donor restrictions 1,473,469 1,854,049 3,202,579 2,178,402 (870) Net assets with donor restrictions
Total net assets 1,473,469 1,854,049 3,202,579 - 2,178,402 - (870) Total liabilities and net assets $ 1,473,469 $ 1,854,049 $ 75 $ 31,755,120 $ 100 $ 27,507,553 $ - $ 307,049 88 Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Assets
Current assets
Cash and cash equivalents
Cash, tenant security deposits
Cash, restricted
Investments
Investments, restricted
Accounts receivable, net
Due from affiliate, net
Pledges receivable, net
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates Prepaid expenses and other assets
Inventory
Assets held for sale
Total current assets
Mercy Housing Mercy Housing
California 105 LLC California 105 LLC Mercy Kelsey Civic Kelsey Civic Center Sunnydale Block 7 Consolidated Mercy GP (4995 Stockton) Center LLC L.P. LLC GP Eliminations Housing Calwest $ 302,313 $ $ $ - $ - $ 27,567,755
2,921,867
12,299,672
100,000 290,490 (4,230) 4,973,644
(2,133,933) 976,524
11,116,288
639,440
402,313 290,490 (2,138,163) 60,495,190
Property and equipment
Land and land improvements 4,507,999 - - 700,824 178,793,462 Buildings - 1,571,409,781
Furniture and equipment - - - - 36,043,327
Predevelopment project costs - - -
Construction in progress - 471,998 - 459,727 - 99,508,247 Accumulated depreciation - - - - - - (244,517,759)
Net property and equipment - 4,979,997 - 459,727 - 700,824 1,641,237,058 Other long-term assets
Restricted property reserves 81,702,373
Long-term investments - - - - -
Long-term investments, restricted
Due from affiliates - - - -
Pledges receivable, net -
Investments in limited partnerships, net - - - - 61,685,706 (399,215) Notes and interest receivable, net (50,000)
Notes and interest receivable, affiliates - - - - - (17,121,166) 1,397,284 Allowance for impaired assets - - -
Other assets, net - 140,743 22,367,557
Total other long-term assets 140,743 44,514,540 105,067,999 Total assets $ - $ 5,523,053 $ $ 750,217 $ $ 43,077,201 $ 1,806,800,247
Mercy Housing Calwest
Consolidating Statement of Financial Position
December 31, 2021
Mercy Housing Mercy Housing
California 105 LLC California 105 LLC Mercy Kelsey Civic Kelsey Civic Center Sunnydale Block 7 Consolidated Mercy GP (4995 Stockton) Center LLC L.P. LLC GP Eliminations Housing Calwest Liabilities
Current liabilities
Accounts payable and accrued expenses $ - $ 140,853 $ $ 262,890 $ $ (498,429) $ 49,863,470 Due to affiliates 102 898 - (2,505,027) 29,765,907
Accrued interest - - - 2,363,194
Accrued interest, affiliates 2,170
Current portion of notes payable - - 223,130,313
Current portion of notes payable, affiliates 842,804 201,200 8,912,198 Deferred revenue and other liabilities - - 2,413,220
Tenant security deposits 2,915,656
Total current liabilities 102 984,555 464,090 (3,003,456) 319,366,128 Long-term liabilities
Due to affiliates - - -
Accrued interest 45,108 166 55,710,958
Accrued interest, affiliates - (1,094,304) 1,283,496
Notes payable, less current portion, net 4,498,339 290,490 926,234,515 Notes payable, less current portion, affiliates - - (19,575,843) 45,063,326 Deferred revenue and other liabilities 37,414,367
Total long-term liabilities 4,543,447 - 290,656 (20,670,147) 1,065,706,662 Total liabilities 102 5,528,002 754,746 (23,673,603) 1,385,072,790 Net assets
Net assets without donor restrictions, controlling (102) (4,949) (4,529) 66,750,804 421,727,457 Net assets without donor restrictions, noncontrolling - Total net assets without donor restrictions (102) (4,949) (4,529) 66,750,804 421,727,457 Net assets with donor restrictions -
Total net assets (102) (4,949) - (4,529) - 66,750,804 421,727,457 Total liabilities and net assets $ - $ 5,523,053 $ $ 750,217 $ - $ 43,077,201 $ 1,806,800,247
Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Third and LeConte
Mercy Housing Mercy Housing California XXXVIII, Mercy Housing Mercy Housing Associates LP Mercy Housing California XXXIX, LP California XL, LP LP (East Leland California XLII, LP California XLIV, LP (Bayview Hill Caroline Severance Calwest (Gleason Park) (Arlington Hotel) Courts) (Boulevard Court) (1180 Fourth Street) Gardens) LLC Revenues
Rent - net of vacancies $ $ 710,451 $ 1,956,530 $ 817,350 $ 338,625 $ 2,052,448 $ 1,667,805 $ Developer fees - - - - - -
Services fees 522,163 10,823
Philanthropy - - - -
Capital grants 422,013 - 394,939
Consulting - - - -
Interest 108,190 (6,319) (18,538) 60 (3,403) 3,153 (2,857) Other 1,890,647 36,276 108,866 32,647 486,756 943,245 59,141 Total revenues 2,521,000 740,408 2,468,871 850,057 1,216,917 2,998,846 1,724,089 10,823 Expenses and losses
Compensation - 217,638 663,274 147,268 446,857 519,941 590,209 - Administrative 837,798 188,952 327,872 125,534 115,675 337,571 193,274 11,673 Professional services 4,428 112,225 160,952 62,712 111,462 121,599 96,675 1,593 Depreciation and amortization - 821,931 1,336,738 907,987 554,945 1,716,566 1,179,374 - Grants 497,857 - -
Facility 358,771 831,258 336,262 244,167 1,605,934 610,237 Interest and fees 764 840,776 283,188 90,582 490,165 378,276 Bad debts 6,511 98,099 99,754 2,468 130,335 41,625
Provision for impaired assets - - - -
Project expenses -
Allocation -
(Gain) loss on sale of assets - -
(Gain) loss on investment in limited partnership 151,233 125 Total expenses and losses
Excess (deficiency) of revenues over expenses
Net assets at beginning of year
Other transfers to (from) net assets
Net assets at end of year
1,491,316 1,706,792 4,258,969 1,962,705 1,566,156 4,922,111 3,089,670 13,391 1,029,684 (966,384) (1,790,098) (1,112,648) (349,239) (1,923,265) (1,365,581) (2,568) (40,459,625) (7,363,931) (15,409,345) (1,411,941) (3,097,960) 17,196,246 4,123,065 (25,017) (632,969) - (77,000) - - - - -
$ (40,062,910) $ (8,330,315) $ (17,276,443) $ (2,524,589) $ (3,447,199) $ 15,272,981 $ 2,757,484 $ (27,585) 91 Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing 1100 Ocean
Mercy Housing Mercy Housing California 52,LP Avenue Limited 55 Laguna, LP California XLIII, LP Mercy Housing California 53, LP (School House Partnership (1100 (Open House (Caroline Severance California 47, LP Madonna Senior (Madonna Station -Vista Ocean Avenue Community at 55 Manor) 7th & H GP, LLC (7th & H Street) Housing LLC Residences) Grande) Apts.) Laguna) Revenues
Rent - net of vacancies $ 1,523,974 $ $ 1,289,047 $ $ 899,927 $ 1,456,294 $ 929,509 $ 666,765 Developer fees - - - - -
Services fees 19,025 15,000
Philanthropy - - -
Capital grants
Consulting - - - -
Interest (427) (18,011) (10,996) 5 (3,938) 677
Other 65,012 42,457 31,794 148,012 517,028 130,876
Total revenues 1,588,559 19,025 1,313,493 15,000 920,725 1,604,311 1,442,599 798,318 Expenses and losses
Compensation 241,534 - 438,720 - 341,662 241,386 277,916 159,783 Administrative 143,830 19,874 227,591 15,850 159,662 176,490 173,854 125,682 Professional services 151,158 1,593 233,944 1,593 132,423 84,916 135,107 53,558 Depreciation and amortization 1,108,334 - 1,439,728 - 423,575 532,742 899,937 1,102,127 Grants - -
Facility 451,143 513,145 489,211 378,167 716,302 232,400 Interest and fees 692,371 92,226 147,167 474,503 255,515 278,326 Bad debts 54,599 63,569 40,914 90,247 31,742 4,558
Provision for impaired assets - - - - -
Project expenses
Allocation
(Gain) loss on sale of assets - -
(Gain) loss on investment in limited partnership 170 81 Total expenses and losses 2,842,969 21,637 3,008,923 17,524 1,734,614 1,978,451 2,490,373 1,956,434 Excess (deficiency) of revenues over expenses (1,254,410) (2,612) (1,695,430) (2,524) (813,889) (374,140) (1,047,774) (1,158,116) Net assets at beginning of year 4,274,501 14,168,037 21,801,927 (7,540) 2,200,434 3,560,730 9,849,096 15,119,176 Other transfers to (from) net assets - - - - - - - -
Net assets at end of year $ 3,020,091 $ 14,165,425 $ 20,106,497 $ (10,064) $ 1,386,545 $ 3,186,590 $ 8,801,322 $ 13,961,060 92 Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Mercy Housing
California 54, LP Mercy Housing California 56, LP Coastside Senior Esparto Family (Esperanza Sunset Lane California 55, LP (Jefferson Park Housing Limited El Monte Veterans El Monte Veterans Apartments, LLC Crossing) Apartments LLC (Trailside Terrace) Terrace) Partners, LP Apartments LLC Apartments, LP Revenues
Rent - net of vacancies $ $ 465,806 $ $ 336,823 $ 683,604 $ 719,212 $ $ 476,622 Developer fees - - - - -
Services fees 8,500 10,741
Philanthropy - - -
Capital grants
Consulting - - - -
Interest 69 67 139 98 62
Other 10,670 38,003 31,013 65,277 10,299
Total revenues 8,500 476,545 374,893 714,756 784,587 10,741 486,983 Expenses and losses
Compensation - 68,793 84,424 208,476 119,696 - 180,395
Administrative 9,349 57,954 850 60,535 106,183 119,844 11,590 92,183 Professional services 1,593 30,942 1,573 33,416 16,275 40,566 1,573 84,389 Depreciation and amortization - 365,797 323,251 608,286 522,311 - 443,698 Grants -
Facility 188,889 165,311 286,755 215,219 137,317
Interest and fees 144,935 143,012 226,932 159,626 74,845 Bad debts 15,890 19,388 54,389 8,201 3,320
Provision for impaired assets - - - -
Project expenses
Allocation
(Gain) loss on sale of assets
(Gain) loss on investment in limited partnership 40 45 27 Total expenses and losses 10,982 873,200 2,468 829,337 1,507,296 1,185,463 13,190 1,016,147 Excess (deficiency) of revenues over expenses (2,482) (396,655) (2,468) (454,444) (792,540) (400,876) (2,449) (529,164) Net assets at beginning of year (24,148) 3,942,285 (22,973) 4,386,988 4,938,941 4,941,888 62,978 5,180,232 Other transfers to (from) net assets - 100 - 73,782 223,388 - - (303) Net assets at end of year $ (26,630) $ 3,545,730 $ (25,441) $ 4,006,326 $ 4,369,789 $ 4,541,012 $ 60,529 $ 4,650,765 93 Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Mercy Housing Mercy Housing
1028 Howard California 60, LP California XI, LP Mercy Eden House Transbay Block 6, California 62, LP Sunset Valley Street, LLC (Quinn Cottages) (Madison Place) LLC Eden House, L.P. LLC (280 Beale) Duplexes, LLC Revenues
Rent - net of vacancies $ 653,668 $ 316,249 $ 394,133 $ $ 1,880,963 $ $ 911,020 $ Developer fees - -
Services fees 45,565 17,000
Philanthropy - -
Capital grants
Consulting - - - -
Interest 39 (36,359) 91 (3,753) (1,240)
Other 22,933 9,046 22,580 18,647 121,367
Total revenues 676,640 288,936 416,804 1,895,857 45,565 1,031,147 17,000 Expenses and losses
Compensation 105,681 331,087 92,243 - 236,597 167,609 - Administrative 57,271 59,683 54,580 248,889 193,863 46,414 209,387 9,349 Professional services 38,094 8,980 4,212 2,543 147,354 1,573 52,444 3,513 Depreciation and amortization 172,107 194,663 153,176 - 431,361 730,810 - Grants -
Facility 179,888 202,774 188,841 626,063 442,400
Interest and fees 63,782 123,487 152,588 280,146 465,595 Bad debts 10,672 13,502 4,828 71,616 9,106
Provision for impaired assets - - - -
Project expenses
Allocation -
(Gain) loss on sale of assets - - -
(Gain) loss on investment in limited partnership 9 105 71 Total expenses and losses 627,495 934,176 650,468 251,441 1,987,000 48,092 2,077,351 12,933 Excess (deficiency) of revenues over expenses 49,145 (645,240) (233,664) (251,441) (91,143) (2,527) (1,046,204) 4,067 Net assets at beginning of year (264,366) 2,136,320 (1,574,163) 1,115,204 6,123,329 509,931 6,354,577 472,312 Other transfers to (from) net assets - 139,930 - - (248,002) - - - Net assets at end of year $ (215,221) $ 1,631,010 $ (1,807,827) $ 863,763 $ 5,784,184 $ 507,404 $ 5,308,373 $ 476,379 94 Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Revenues
Rent - net of vacancies
Developer fees
Services fees
Philanthropy
Capital grants
Consulting
Interest
Other
Total revenues
Mercy Housing
California 63, LP Mercy Housing Mercy Housing
(Sunset Valley Land Park Woods, California 68, LP Transbay Block 7, California 64, LP Mercy Mather Duplexes) 345 Arguello, LP LLC (Land Park Woods) 1800 Pine, LP LLC (Transbay Block 7) Veterans, LLC $ 695,362 $ 1,437,116 $ $ 598,373 $ 2,188,491 $ - $ 1,980,166 $ (8,476) (737)
10,328 10,000
697,214 1,446,379
22,510 - 126,616 27,024
(7,737) (4,660)
21,975 11,920
47,830
22,510 612,611 2,195,751 126,616 2,027,996 27,024
Expenses and losses
Compensation 145,846 265,008 156,546 327,396 318,691 -
Administrative 134,954 162,912 23,360 107,043 225,048 151,709 282,440 27,825 Professional services 49,076 165,064 1,904 72,264 260,866 1,884 157,708 1,884 Depreciation and amortization 613,862 760,981 510,165 921,415 1,737,052 - Grants
Facility 299,003 350,895 248,157 737,120 769,821
Interest and fees 159,353 497,852 144,197 770,176 658,388 Bad debts 6,378 2,833 47,660 15,984 90
Provision for impaired assets - - - - -
Project expenses
Allocation -
(Gain) loss on sale of assets - - -
(Gain) loss on investment in limited partnership 67 190 48 Total expenses and losses 1,408,472 2,205,545 25,331 1,286,032 3,258,005 153,783 3,924,190 29,757 Excess (deficiency) of revenues over expenses (711,258) (759,166) (2,821) (673,421) (1,062,254) (27,167) (1,896,194) (2,733) Net assets at beginning of year 11,028,281 9,446,275 106,917 5,206,954 10,408,043 481,932 25,087,865 106,207 Other transfers to (from) net assets - (70,744) - - - - (108,560) - Net assets at end of year $ 10,317,023 $ 8,616,365 $ 104,096 $ 4,533,533 $ 9,345,789 $ 454,765 $ 23,083,111 $ 103,474 95 Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Mercy Housing Laguna Senior
California 61, LP California 65, LP Housing, L.P. (95
(Mather Veterans Mercy Housing (The Arbor at Mercy Laguna LLC, Laguna Senior Village) California 65, LLC Hesperion) Plaza Maria, LLC GP Housing) JFK Tower, LP 2698 California, LP Revenues
Rent - net of vacancies $ 611,413 $ $ 897,541 $ 1,007,108 $ $ 1,090,513 $ 2,380,525 $ 896,491 Developer fees - - - -
Services fees 78,758 35,261
Philanthropy - -
Capital grants
Consulting - - - -
Interest (46,231) (745) 10 736 (4,705) (3,469)
Other 10,345 3,954 15,906 58,505 15,294 8,584
Total revenues 575,527 78,758 900,750 1,023,024 35,261 1,149,754 2,391,114 901,606 Expenses and losses
Compensation 223,102 - 220,046 86,591 - 237,121 329,110 199,834 Administrative 79,941 28,987 194,481 83,912 36,061 156,167 195,822 139,114 Professional services 103,261 1,904 99,533 8,132 1,573 60,722 252,147 95,766 Depreciation and amortization 454,572 - 678,259 280,567 - 1,108,393 1,392,368 728,991 Grants - - 55,652
Facility 183,862 263,806 281,115 649,201 719,951 286,608 Interest and fees 92,419 469,189 267,628 597,126 858,264 380,030 Bad debts 5,849 (7,935) 31,402 12,061 (3,958) 5,663
Provision for impaired assets - - - - -
Project expenses
Allocation
(Gain) loss on sale of assets - -
(Gain) loss on investment in limited partnership 102 85 Total expenses and losses 1,143,006 30,993 1,917,379 1,039,347 37,719 2,820,791 3,743,704 1,891,658 Excess (deficiency) of revenues over expenses
Net assets at beginning of year
Other transfers to (from) net assets
(567,479) 47,765 (1,016,629) (16,323) (2,458) (1,671,037) (1,352,590) (990,052) 13,369,934 (12,631) 7,898,761 (4,162,921) 125,126 21,678,226 15,965,733 8,682,029 (6,590) (100,000) - 981,944 98,262 (10,531)
Net assets at end of year $ 12,802,455 $ 35,134 $ 6,875,542 $ (4,279,244) $ 122,668 $ 20,989,133 $ 14,711,405 $ 7,681,446 96 Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing
California 66, LP Mercy Housing New Dana Strand
(Colma Veterans 455 Fell, LP (Parcel California 67, LP Historic Live Oak Mercy Housing Mercy Housing La IV, LP (Camino Del St Mary's Tower, Village) 0) (Columbia Park) (Odd Fellows) Camino GP, LLC Cienega, LLC Mar) LLC Revenues
Rent - net of vacancies $ 2,021,498 $ 1,429,165 $ 1,072,456 $ 106,906 $ $ $ 2,350,917 $ Developer fees - - - - - -
Services fees 16,391 84,438
Philanthropy - -
Capital grants
Consulting - -
Interest - - 3 11 700
Other 81,978 377,641 46,667 2,197 21,556
Total revenues 2,103,476 1,806,806 1,119,126 109,114 16,391 2,373,173 84,438 Expenses and losses
Compensation 279,247 341,094 80,839 11,065 - 106,138 -
Administrative 136,289 265,108 86,128 22,134 17,241 851 246,338 56,256 Professional services 197,385 54,616 130,245 7,382 1,884 2,834 69,679 934 Depreciation and amortization 1,406,438 2,334,683 699,300 69,908 - 792,694 - Grants -
Facility 412,428 875,256 328,799 50,556 696,927 (175)
Interest and fees 846,034 353,951 299,582 555 839,290 - Bad debts 5,395 92,369 26,408 1,745 3,010
Provision for impaired assets - - - -
Project expenses
Allocation
(Gain) loss on sale of assets - - -
(Gain) loss on investment in limited partnership 4 30 21 Total expenses and losses 3,283,216 4,317,077 1,651,301 163,345 19,129 3,715 2,754,076 57,036 Excess (deficiency) of revenues over expenses (1,179,740) (2,510,271) (532,175) (54,231) (2,738) (3,715) (380,903) 27,402 Net assets at beginning of year 10,937,427 22,124,300 1,788,178 377,575 (10,526) (12,439) 12,009,754 (3,872,562) Other transfers to (from) net assets - 2,414,948 (106,820) - - - 87,562 - Net assets at end of year $ 9,757,687 $ 22,028,977 $ 1,149,183 $ 323,344 $ (13,264) $ (16,154) $ 11,716,413 $ (3,845,160) 97 Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Mercy Housing Mercy Housing Mercy Housing California 71, LP (St Francis of Assisi, California 69, LP 3001 24th Street California 59, LP California 48, LP Esperanza Marv's Tower) LLC (Francis of Assisi) LLC (Casa de la Mission) 623 Vernon, LLC (Lohse Apartments) Crossing II, LLC GP Revenues
Rent - net of vacancies $ 2,995,038 $ $ 4,622,240 $ $ 58,688 $ $ 562,128 $ Developer fees - - - - -
Services fees 28,554 27,186 1,857
Philanthropy - -
Capital grants
Consulting - -
Interest 75 (10,155) - 355
Other 11,397 31,224 484,417 7,963
Total revenues 3,006,510
28,554 4,643,309
543,105 27,186 570,446 1,857
Expenses and losses
Compensation 345,733 - 692,735 - 202,632 152,856 -
Administrative 324,892 29,404 218,420 863 200,051 27,986 100,268 2,694 Professional services 183,798 1,884 112,839 1,573 5,646 1,884 15,857 2,734 Depreciation and amortization 1,092,930 - 1,133,656 - 497,081 1,041,954 - Grants - -
Facility 422,461 1,022,038 175 143,962 621 186,920
Interest and fees 841,496 1,094,664 - 442,062 216,009
Bad debts 391 918 3,256 13,346
Provision for impaired assets - - -
Project expenses
Allocation
(Gain) loss on sale of assets - - - -
(Gain) loss on investment in limited partnership (37) 95 116 50 Total expenses and losses 3,211,701 31,251 4,275,270 2,706 1,494,690 30,607 1,727,210 5,478 Excess (deficiency) of revenues over expenses (205,191) (2,697) 368,039 (2,706) (951,585) (3,421) (1,156,764) (3,621) Net assets at beginning of year 12,200,469 (29,195,664) (3,390,571) (69,950) 2,839,903 1,403,712 14,940,749 (9,667) Other transfers to (from) net assets - (444,534) (444,534) - 351,429 - - - Net assets at end of year $ 11,995,278 $ (29,642,895) $ (3,467,066) $ (72,656) $ 2,239,747 $ 1,400,291 $ 13,783,985 $ (13,288) 98 Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Candlestick Pointe
California 76, LP Mercy Sunnydale Parcel 11a, a California 20 North Mercy New Hope, Mercy Housing (Esperanza Transformation, LLC Q Housing Partners, Limited Partnership Cottonwood LLC LP (Woodland/180 California 74, LP Pico Robertson Crossing Phase II) GP LP (Candlestick) (GP) West Beamer) (Britton Street) LLC GP Revenues
Rent - net of vacancies $ 453,753 $ $ 1,700,845 $ $ $ 784,012 $ 2,409,961 $ Developer fees - -
Services fees 23,200
Philanthropy -
Capital grants
Consulting - -
Interest 4 (1,649,874) - 188 (15,094)
Other 8,830 8,272 669,514 16,287 57,847
Total revenues 462,587 23,200 59,243 669,514 800,487 2,452,714 Expenses and losses
Compensation 67,258 - 275,933 - - 217,715 303,584 -
Administrative 43,823 2,947 198,827 1,705 799 133,370 177,289 800 Professional services 28,994 1,884 121,859 84 1,884 163,798 157,687 1,884 Depreciation and amortization 457,525 - 1,095,681 - - 1,009,160 1,748,343 - Grants - -
Facility 133,558 394,393 376,530 611,848
Interest and fees 227,603 786,333 305,152 869,386
Bad debts 5,201 2,702 19,673 31,092
Provision for impaired assets - - -
Project expenses
Allocation
(Gain) loss on sale of assets - - -
(Gain) loss on investment in limited partnership 141 73 172 Total expenses and losses 963,962 4,972 2,875,728 1,789 2,756 2,225,398 3,899,229 2,856 Excess (deficiency) of revenues over expenses (501,375) 18,228 (2,816,485) (1,789) 666,758 (1,424,911) (1,446,515) (2,856) Net assets at beginning of year 2,828,791 (5,478) 21,929,124 (23,657) 3,464,410 13,087,985 2,455,416 (8,350) Other transfers to (from) net assets - - 327,905 - - 597,679 1,508,168 - Net assets at end of year $ 2,327,416 $ 12,750 $ 19,440,544 $ (25,446) $ 4,131,168 $ 12,260,753 $ 2,517,069 $ (11,206) 99 Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing
California 73, LP Baldwin Rose LLC,
(Pico Robertson) GP
Baldwin Rose LP
Mercy Housing
California 78, LP Mercy Housing Mercy Housing
(Mission Bay Block California 75, LP Placentia Veterans Placentia Veterans California 82, LP 6) (Dorothy Day) Village, LLC GP Village, LP (Treasure Island) Revenues
Rent - net of vacancies $ 619,784 $ $ 936,242 $ 1,797,197 $ 3,535,502 $ $ 931,817 $ Developer fees - - - - -
Services fees 33,039 -
Philanthropy - -
Capital grants -
Consulting - - -
Interest 18 - 304 17
Other 29,558 31,339 18,742 41,815 42,664
Total revenues 649,360 33,039 967,581 1,815,939 3,577,621 974,498 Expenses and losses
Compensation 168,352 - 188,145 309,105 667,715 96,798
Administrative 177,233 34,853 113,542 376,394 280,773 800 129,942 - Professional services 54,992 1,884 204,254 117,253 19,105 1,884 159,660 4,509 Depreciation and amortization 1,094,165 - 1,199,805 3,147,284 1,280,930 839,289 - Grants -
Facility 244,128 201,114 564,614 416,149 379,242
Interest and fees 619,037 339,774 1,020,855 1,145,965 316,429 Bad debts 10,757 24,782 - 1,432
Provision for impaired assets - - - -
Project expenses
Allocation -
(Gain) loss on sale of assets - -
(Gain) loss on investment in limited partnership 65 48
Total expenses and losses
Excess (deficiency) of revenues over expenses
Net assets at beginning of year
Other transfers to (from) net assets
Net assets at end of year
2,368,664 36,802 2,246,634 5,560,287 3,810,637 2,732 1,922,792 4,509 (1,719,304) (3,763) (1,279,053) (3,744,348) (233,016) (2,732) (948,294) (4,509) 552,488 (7,448) 19,697,844 363,870 10,954,943 (6,056) 886,544 (9,621) 16,965,349 - 515,261 4,014,960 500,000 - 15,432,939 -
$ 15,798,533 $ (11,211) $ 18,934,052 $ 634,482 $ 11,221,927 $ (8,788) $ 15,371,189 $ (14,130) 100
Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
1064 Mission
1064 Mission LLC, Homeless Services 833 Bryant, LLC 833 Bryant, LP Villa de Vida GP GP Center LLC GP (Tipping Point) LLC
Revenues
Rent - net of vacancies $ $
Developer fees
Services fees
Philanthropy -
Capital grants 6,990,784
Consulting -
Interest
Other
Total revenues 6,990,784
Expenses and losses
Compensation
Administrative
Professional services
Depreciation and amortization
Grants
Facility
Interest and fees
Bad debts
Provision for impaired assets
Project expenses
Allocation
(Gain) loss on sale of assets
(Gain) loss on investment in limited partnership
Total expenses and losses
Excess (deficiency) of revenues over expenses
Net assets at beginning of year
Other transfers to (from) net assets
800 1,233
934 4,509
Villa de Vida
Mercy Housing
1721 West Capitol California 87, LP
LLC (West Capitol)
$ 10,697 $ $ 552,409 $ $ 100,948
156
428,916
33 520 1,671,594 3,330
439,769 552,962
1,671,594 104,278
172,206 - 120,924 - 56,483
929 98,787 921 236,582 1,806 442,731
2,523 10,085 1,884 49,438 2,195 9,410
243,539 - 445,505 - 192,239
90,680 140,235 9,923
75,039 594,591 75,478
- 1,750
5 25 53 34
1,739 5,742 3,477 690,336 2,858 1,587,275 4,035 788,014 (1,739) 6,985,042 (3,477) (250,567) (2,858) (1,034,313) 1,667,559 (683,736) (5,683) 3,696,442 (8,823) 2,114,673 (1,680) 1,604,880 (114,216) 2,115,938 (84,382) - 133,595 - 1,665,284
Net assets at end of year $ (7,422) $ 10,681,484 $ (12,300) $ 1,779,724 $ (4,538) $ 704,162 $ 1,553,343 $ 3,097,486 101
Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Mercy Housing Mercy Housing Mercy Housing Mercy Housing Sunnydale Block 6 Sunnydale Block 6 California 84, LP 1121 9th Street California 90, LP California 94 LLC California 94, LP California 83, LP Development CO Housing (Bennett House) LLC, GP (Capital Park) GP (Sherman Oaks) (Bermuda Gardens) LLC GP Partnership, LP Revenues
Rent - net of vacancies $ 1,937,334 $ $ $ $ $ 1,102,944 $ $ 55,878 Developer fees - -
Services fees
Philanthropy
Capital grants
Consulting -
Interest 1,782 492 2 -
Other 283,193 66,191 25
Total revenues 2,222,309 492 2 1,169,135 55,903
Expenses and losses
Compensation 220,674 - - 188,786 46,362
Administrative 159,694 896 8,050 - 12,390 205,916 - 189,792 Professional services 110,953 1,573 4,509 1,593 4,509 135,021 622 23,140 Depreciation and amortization 739,956 - - - 507,024 - 575,718 Grants -
Facility 225,547 - 198,224 15,000
Interest and fees 263,525 705 205,169 168,974
Bad debts - - 26,785 -
Provision for impaired assets - - -
Project expenses -
Allocation
(Gain) loss on sale of assets - -
(Gain) loss on investment in limited partnership 1 48
Total expenses and losses
Excess (deficiency) of revenues over expenses
Net assets at beginning of year
Other transfers to (from) net assets
Net assets at end of year
1,720,349 3,175 12,559 1,593 16,899 1,466,925 670 1,018,986 501,960 (3,175) (12,067) (1,593) (16,897) (297,790) (670) (963,083) (8,426,765) (1,112) 2,977,766 (312) (8,889) (2,985,711) (14,322) 5,709,140 10,643,822 - 248,374 (10,508) 558,966 - - (28,150)
$ 2,719,017 $ (4,287) $ 3,214,073 $ (12,413) $ 533,180 $ (3,283,501) $ (14,992) $ 4,717,907 102
Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Revenues
Rent - net of vacancies
Developer fees
Services fees
Philanthropy
Capital grants
Consulting
Interest
Other
Total revenues
Mercy Housing Mercy Housing
California 95 LLC Mercy Housing Mercy Housing Cailifornia 96, LP GP (Long Beach California 95, LP California 97, LP Mercy HPSY Block Hunters Point Block Middlefield Junction (Middlefield GP) (Long Beach) 600 7th Street GP (600 7th Street) 56 LLC 56, LP LLC GP Junction) $ 3,500 $ $ $
30,000
30,000 3,500
Expenses and losses
Compensation - - -
Administrative - 98,474 - - 841 20
Professional services 1,572 4,509 623 4,509 623 4,509 622 6,409 Depreciation and amortization - - - - - -
Grants -
Facility -
Interest and fees 45 -
Bad debts - - - -
Provision for impaired assets
Project expenses
Allocation
(Gain) loss on sale of assets
(Gain) loss on investment in limited partnership 10 3,156 1 Total expenses and losses 1,582 103,028 623 4,509 3,779 5,350 623 6,429 Excess (deficiency) of revenues over expenses 28,418 (99,528) (623) (4,509) (3,779) (5,350) (623) (6,429) Net assets at beginning of year (308) 37,049 (312) (6,383) (3,048) (4,638) (314) (27,347) Other transfers to (from) net assets - 30,000 - - - - - - Net assets at end of year $ 28,110 $ (32,479) $ (935) $ (10,892) $ (6,827) $ (9,988) $ (937) $ (33,776) 103
Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Revenues
Rent - net of vacancies
Developer fees
Services fees
Philanthropy
Capital grants
Consulting
Interest
Other
Total revenues
Mercy Housing Mercy Housing Mercy Housing
Mercy Housing California 99, LP Mercy Housing California 100, LP 7789 La Mancha Mercy Housing California 103, LP 231 Grant Ave LLC California 99 LLC (North Auburn) California 100 GP (Whittier) Way LLC California 103 GP (Laguna Honda) (Palo Alto) $ $ $ 46,200 $ 905,190 $ $ $
925,274 561,830
4,443 -
46,200 1,834,907 561,830
Expenses and losses
Compensation - - - 510,576 - -
Administrative 1,600 48,640 123 574,037 1,670 2,261
Professional services 1,573 4,509 934 2,010 159,410 4,509 4,509 Depreciation and amortization - 50,458 - 416,291 - -
Grants -
Facility 404,029
Interest and fees 5,346
Bad debts 17,387
Provision for impaired assets - -
Project expenses
Allocation - -
(Gain) loss on sale of assets - - -
(Gain) loss on investment in limited partnership 10 (4) 1 Total expenses and losses 3,183 103,607 930 2,133 2,087,076 1 6,179 6,770 Excess (deficiency) of revenues over expenses (3,183) (103,607) (930) 44,067 (252,169) (1) (6,179) 555,060 Net assets at beginning of year (312) 3,169,494 1 8,201 17,253,709 Other transfers to (from) net assets - (28,000) - -
Net assets at end of year $ (3,495) $ 3,037,887 $ (929) $ 52,268 $ 17,001,540 $ (1) $ (6,179) $ 555,060 104
Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Revenues
Rent - net of vacancies
Developer fees
Services fees
Philanthropy
Capital grants
Consulting
Interest
Other
Total revenues
Expenses and losses
Compensation
Administrative
Professional services
Depreciation and amortization
Grants
Facility
Interest and fees
Bad debts
Provision for impaired assets
Project expenses
Allocation
(Gain) loss on sale of assets
(Gain) loss on investment in limited partnership
Total expenses and losses
Excess (deficiency) of revenues over expenses
Net assets at beginning of year
Other transfers to (from) net assets
Net assets at end of year
Mercy Housing
Mercy Kimball Mercy Morgan Richmond Richmond California 89 LLC Transbay 2 Family Development GP Development GP Hacienda GP Hacienda MHCA 89 GP (6th & San Julian) GP Transbay 2 Family 1,473,630 1,854,270
1,473, 630 1,854,270
161
221
$ - $ - $ - $ - $ - $
68 68
950
4,509
647
647
5,026 870
87 161 221 - 5,459 - 5,113 - 870
1,473,469 1,854,049 (5,391) (4,466) (870)
3,207,970 2,182,868
$ 1,473,469 $ 1,854,049 $ - $ 3,202,579 $ - $ 2,178,402 $ - $ (870) 105
Mercy Housing Calwest
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Mercy Housing Mercy Housing
California 105 LLC California 105 LLC Mercy Kelsey Civic Kelsey Civic Center Sunnydale Block 7 Consolidated Mercy GP (4995 Stockton) Center LLC L.P. LLC GP Eliminations Housing Calwest Revenues
Rent - net of vacancies $ $ $ $ $ - $ - $ 68,033,173
Developer fees
Services fees - (1,121,981) 31,670
Philanthropy
Capital grants 9,294,840
Consulting -
Interest - (108,190) (1,847,663)
Other - 12,863,253
Total revenues (1,230,171) 88,375,273
Expenses and losses
Compensation - - 14,213,435
Administrative 102 - 20 (1,321,851) 10,730,212
Professional services - 4,949 4,509 - 5,679,150
Depreciation and amortization - - 49,267,625
Grants 553,509
Facility - 22,735,175
Interest and fees - (229,639) 22,476,926
Bad debts - 1,279,759
Provision for impaired assets - - - -
Project expenses -
Allocation - -
(Gain) loss on sale of assets - -
(Gain) loss on investment in limited partnership 49,717 206,615 Total expenses and losses 102 4,949 - 4,529 (1,501,773) 127,142,406 Excess (deficiency) of revenues over expenses
Net assets at beginning of year
Other transfers to (from) net assets
(102) (4,949)
(4,529)
271,602 (38,767,133)
67,799,908 401,312,438
(1,320,706) 59,182,152
Net assets at end of year $ (102) $ (4.949) $ - $ (4,529) $ $ 66,750,804 421,727,457
Mercy Properties California
Consolidating Statement of Financial Position
December 31, 2021
Assets
Current assets
Cash and cash equivalents
Cash, tenant security deposits
Cash, restricted
Investments
Investments, restricted
Accounts receivable, net
Due from affiliate, net
Pledges receivable, net
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates Prepaid expenses and other assets
Inventory
Assets held for sale
Total current assets
Property and equipment
Land and land improvements
Buildings
Furniture and equipment
Predevelopment project costs
Construction in progress
Accumulated depreciation
Net property and equipment
Other long-term assets
Restricted property reserves
Long-term investments
Long-term investments, restricted
Due from affiliates
Pledges receivable, net
Investments in limited partnerships, net
Notes and interest receivable, net
Notes and interest receivable, affiliates
Allowance for impaired assets
Other assets, net
Total other long-term assets
Osocales
Mercy Properties (McIntosh Mobile Sycamore Center Consolidated Mercy California The Haven Leland House Homes) Richmond Hills (Red Bluff) Eliminations Properties Califomia $ 39,893 $ 298,676 $ 57,404 $ 122,662 $ 135,253 $ $ 653,888 15,124 - 26,958 - 506 42,588
1,082 1,724 6,371 4,470 306 13,953
87,477 - - (12,000) 75,477
3,150 - - - 3,150
6,933 206,812 8,221 10,964 6,572 239,502
282,612 1,134,262 - 1,416,874
87,477 345,644 1,644,624 98,954 138,096 142,637 (12,000) 2,445,432 3,700,000 - 602,623 368,530 58,366 - 4,729,519
3,634,059 2,640,978 2,634,992 - 8,910,029
11,660 32,811 15,819 60,290
(2,931,995) (2,090,972) (1,900,069) - (6,923,036)
3,700,000 - 1,316,347 951,347 809,108 6,776,802
34,370 237,646 326,770 62,938 225,693 887,417
60,000 60,000
22,000 - - 22,000
82,000
34,370 237,646
326,770 62,938
225,693 969,417
Total assets $ 3,869,477 $ 380,014 $ 1,882,270 $ 1,742,071 $ 1,152,381 $ 1,177,438 $ (12,000) $ 10,191,651
107
Mercy Properties California
Consolidating Statement of Financial Position
December 31, 2021
Osocales
Mercy Properties (McIntosh Mobile Sycamore Center Consolidated Mercy California The Haven Leland House Homes) Richmond Hills (Red Bluff) Eliminations Properties Califomia Liabilities
Current liabilities
Accounts payable and accrued expenses $ (416) $ 28,604 $ 2,536 $ 47,819 $ 28,291 $ 20,232 $ 12,000 $ 139,066 Due to affiliates 12,000 - - - 158,521 1,569 - 172,090
Accrued interest 673,851 4,487 1,397 679,735
Accrued interest, affiliates - -
Current portion of notes payable - 1,260,000 68,092 - 27,522 1,355,614 Current portion of notes payable, affiliates 83,451 - - 108,965 192,416 Deferred revenue and other liabilities 32 4,896 - 1,374 6,302 Tenant security deposits 13,297 26,456 5,000 6 44,759
Total current liabilities 95,035 41,933 1,936,387 151,750 300,777 52,100 12,000 2,589,982 Long-term liabilities
Due to affiliates - -
Accrued interest 528,108 528,108
Accrued interest, affiliates - - -
Notes payable, less current portion, net 60,000 1,954,820 318,867 2,333,687 Notes payable, less current portion, affiliates - - -
Deferred revenue and other liabilities - - 11,500 - 11,500 Total long-term liabilities 60,000 - 2,482,928 330,367 - 2,873,295 Total liabilities 155,035 41,933 1,936,387 2,634,678 300,777 382,467 12,000 5,463,277 Net assets
Net assets without donor restrictions, controlling 3,714,442 338,081 (54,117) (892,607) 851,604 794,971 (24,000) 4,728,374 Net assets without donor restrictions, noncontrolling - - - Total net assets without donor restrictions 3,714,442 338,081 (54,117) (892,607) 851,604 794,971 (24,000) 4,728,374 Net assets with donor restrictions
Total net assets 3,714,442 338,081 (54,117) (892,607) 851,604 794,971 (24,000) 4,728,374 Total liabilities and net assets $ 3,869,477 $ 380,014 $ 1,882,270 $ 1,742,071 $ 1,152,381 $ 1,177,438 $ (12,000) $ 10,191,651 108
Mercy Properties California
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Revenues
Rent - net of vacancies
Developer fees
Services fees
Philanthropy
Capital grants
Consulting
Interest
Other
Total revenues
Osocales
Mercy Properties (McIntosh Mobile
California The Haven Leland House Homes)
Richmond Hills
Sycamore Center
(Red Bluff)
Consolidated Mercy
Eliminations Properties California
- $ 184,497 $ 20,688 $ 501,422 $ 44,498 $ 156,889 $ - $ 907,994 12,000 (12,000)
58,488
25 651 150 3,626 109
2,530 59,187 2,725 - 30,749
12,000 187,052
139,014 504,297
48,124 187,747
(12,000)
58,488
4,561
95,191
1,066,234
Expenses and losses
Compensation 86,716 - 54,036 24,773 - 165,525
Administrative 912,200 23,553 3,771 77,301 - 12,360 (12,000) 1,017,185 Professional services 416 2,499 9,445 6,880 2,500 645 - 22,385 Depreciation and amortization 26,880 160,109 134,374 95,766 101,357 - 518,486 Grants - - - -
Facility 73,738 31,144 184,771 13,747 90,170 393,570
Interest and fees - 37,800 95,937 5,312 16,926 155,975
Bad debts - 7,296 - 7,296
Provision for impaired assets - -
Project expenses
Allocation
(Gain) loss on sale of assets 7,492 7,492
(Gain) loss on investment in limited partnership - -
Total expenses and losses
Excess (deficiency) of revenues over expenses
Net assets at beginning of year
Other transfers to (from) net assets
Net assets at end of year
912,616 213,386 242,269 568,087 117,325 246,231
(900,616) (26,334) (103,255) (63,790) (69,201) (58,484) 4,615,058 364,415 49,138 (828,817) 920,805 853,455
$ 3,714,442 $ 338,081 $ (54,117) $ (892,607) $ 851,604 $ 794,971 $ 109
(12,000)
(24,000)
(24,000) $
2,287,914
(1,221,680)
5,950,054
4,728,374
San Juan Housing Corporation
Consolidating Statement of Financial Position
December 31, 2021
Tahoe Valley
Kennedy Estates Townhomes
Housing Associates, LP
San Juan Housing Associates, LP (Tahoe Valley
Corporation (Kennedy Estates) Townhomes)
Eliminations
Consolidated San
Juan Housing
Corporation
Assets
Current assets
Cash and cash equivalents $ $ 325,589 $ 172,515 $ $ 498,104 Cash, tenant security deposits 65,523 72,838 138,361
Cash, restricted - -
Investments
Investments, restricted - -
Accounts receivable, net 19,249 5,760 - 25,009
Due from affiliate, net 492,626 (492,626)
Pledges receivable, net -
Grants receivable
Current portion of notes and interest receivable
Current portion of notes and interest receivable, affiliates Prepaid expenses and other assets 29,300 27,642 56,942
Inventory
Assets held for sale
Total current assets 492,626 439,661 278,755 (492,626) 718,416 Property and equipment
Land and land improvements 809,872 924,352 1,734,224
Buildings 5,858,181 2,183,853 8,042,034
Fumiture and equipment 187,593 3,631,483 3,819,076
Predevelopment project costs - -
Construction in progress - - -
Accumulated depreciation (5,343,864) (5,217,959) (10,561,823) Net property and equipment 1,511,782 1,521,729 3,033,511 Other long-term assets
Restricted property reserves 444,000 258,311 702,311
Long-term investments - -
Long-term investments, restricted
Due from affiliates
Pledges receivable, net -
Investments in limited partnerships, net 85,012 (85,012) - Notes and interest receivable, net -
Notes and interest receivable, affiliates -
Allowance for impaired assets - -
Other assets, net - -
Total other long-term assets
85,012 444,000 258,311 (85,012) 702,311
Total assets $ 577,638 $ 2,395,443 $ 2,058,795 $ (577,638) $ 4,454,238
San Juan Housing Corporation
Consolidating Statement of Financial Position
December 31, 2021
Tahoe Valley
Kennedy Estates Townhomes
Housing Associates, LP
San Juan Housing Associates, LP (Tahoe Valley
Corporation (Kennedy Estates) Townhomes)
Eliminations
Consolidated San
Juan Housing
Corporation
Liabilities
Current liabilities
Accounts payable and accrued expenses $ 117,089 $ 75,275 $ 36,760 $ - $ 229,124 Due to affiliates 159,697 386,384 317,437 (703,822) 159,696 Accrued interest 6,472 6,289 12,761
Accrued interest, affiliates - - -
Current portion of notes payable 31,831 119,727 151,558 Current portion of notes payable, affiliates - - -
Deferred revenue and other liabilities 9,222 5,781 15,003 Tenant security deposits 65,162 65,593 130,755
Total current liabilities
Long-term liabilities
Due to affiliates
Accrued interest 660,730 1,919,615 2,580,345
Accrued interest, affiliates
Notes payable, less current portion, net 2,451,111 4,058,193 6,509,304 Notes payable, less current portion, affiliates - -
Deferred revenue and other liabilities
276,786 574,346 551,587 (703,822) 698,897
Total long-term liabilities
Total liabilities
3,111,841 5,977,808 9,089,649
276,786 3,686,187 6,529,395 (703,822) 9,788,546
Net assets
Net assets without donor restrictions, controlling 300,852 (1,290,744) (4,470,600) 126,184 (5,334,308) Net assets without donor restrictions, noncontrolling - - Total net assets without donor restrictions 300,852 (1,290,744) (4,470,600) 126,184 (5,334,308) Net assets with donor restrictions
Total net assets
300,852 (1,290,744) (4,470,600) 126,184 (5,334,308)
Total liabilities and net assets $ 577,638 $ 2,395,443 $ 2,058,795 $ (577,638) $ 4,454,238
San Juan Housing Corporation
Consolidating Statement of Activities
and Changes in Net Assets
For the Year Ended December 31, 2021
Tahoe Valley
Kennedy Estates Townhomes
Housing Associates, LP
San Juan Housing Associates, LP (Tahoe Valley
Corporation (Kennedy Estates) Townhomes)
Eliminations
Consolidated San
Juan Housing
Corporation
Revenues
Rent - net of vacancies $ - $ 814,488 $ 736,998 $ - $ 1,551,486 Developer fees - - -
Services fees 57,206 (57,206)
Philanthropy
Capital grants
Consulting - - -
Interest 489 1,018 1,507
Other 121,271 12,375 16,310 149,956
Total revenues 178,477 827,352 754,326 (57,206) 1,702,949 Expenses and losses
Compensation 196,702 170,202 366,904
Administrative 57,306 151,216 98,901 (57,206) 250,217
Professional services 1,090 9,180 8,980 19,250
Depreciation and amortization 241,456 211,338 452,794
Grants -
Facility 377,796 294,830 672,626
Interest and fees 116,706 166,029 282,735
Bad debts 12,681 6,626 19,307
Provision for impaired assets - -
Project expenses
Allocation
(Gain) loss on sale of assets - -
(Gain) loss on investment in limited partnership 48 (48) Total expenses and losses 58,444 1,105,737 956,906 (57,254) 2,063,833 Excess (deficiency) of revenues over expenses
Net assets at beginning of year
Other transfers to (from) net assets
120,033 (278,385) (202,580) 48 (360,884)
180,819 (1,012,359) (4,389,291) 247,407 (4,973,424)
121,271 (121,271)
Net assets at end of year $ 300,852 $ (1,290,744) $ (4,470,600) $ 126,184 $ (5,334,308)
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