Financial Sustainability
LA Family Housing balances diverse revenue streams to support our work to end homelessness in people’s lives. Our revenue includes public government contracts and private philanthropic support from a wide range of individual donors, foundations, and corporations, as well as earned revenue from our affordable housing properties and developer fees.
STATEMENT OF FINANCIAL POSITION
ASSETS |
2024 |
2023 |
2022 |
| Cash & Cash Equivalents | $6,258,308 | $8,975,285 | $10,343,221 |
| Restricted Cash | $14,374,757 | $6,678,201 | $5,947,628 |
| Receivable, Net | $14,449,343 | $25,840,796 | $25,285,994 |
| Notes Receivable | $2,164,655 | $2,614,796 | $14,429,340 |
| Property and Equipment | $325,049,202 | $297,010,832 | $233,712,163 |
| Prepaid Expenses and Other Assets | $14,523,946 | $13,942,390 | $23,732,163 |
| TOTAL ASSETS | $376,820,211 | $354,612,159 | $313,450,509 |
LIABILITIES & NET ASSETS |
|||
| Accounts Payable | $24,937,398 | $19,116,521 | $25,229,292 |
| Notes Payable | $232,284,814 | $220,142,467 | $176,512,198 |
| Long Term Accrued Expenses | $21,155,433 | $22,308,472 | $19,070,770 |
| Other Liabilities | $15,531,314 | $19,594,419 | $16,725,689 |
| TOTAL LIABILITIES | $242,492,779 | $281,161,879 | $237,537,949 |
| Unrestricted | $53,895,210 | $48,925,723 | $51,251,872 |
| Donor Restricted | $21,678,943 | $24,524,557 | $24,660,688 |
| TOTAL NET ASSETS | $75,574,153 | $73,450,280 | $75,912,560 |
STATEMENT OF FINANCIAL ACTIVITIES
REVENUE |
2024 |
2023 |
2022 |
| Government Contracts | $74,918,229 | $65,145,048 | $70,773,593 |
| Private and In-Kind Contributions | $15,536,737 | $9,116,466 | $31,684,123 |
| Rental Revenue | $10,167,283 | $7,975,296 | $5,910,835 |
| Development Fees | $3,568,390 | $1,376,408 | $1,525,455 |
| Other Income (Investment income, gains on cancellation of debt) | $6,700,198 | $6,966,579 | $6,144,598 |
| TOTAL REVENUE | $110,890,837 | $90,579,797 | $116,038,604 |
EXPENSES |
2024 |
2023 |
2022 |
| Direct Services | $92,305,538 | $69,730,248 | $67,664,930 |
| Administrative Services | $19,490,091 | $19,783,099 | $14,040,735 |
| TOTAL BEFORE FINANCIAL EXPENSES | $111,795,629 | $89,513,347 | $81,705,665 |
| CHANGE IN NET ASSETS BEFORE FINANCIAL EXPENSES | ($904,792) | $1,066,450 | $34,332,939 |
| Depreciation & Amortization Expense | $7,302,826 | $8,115,354 | $4,979,489 |
| Residual Receipt & Interest Expense | $5,214,527 | $2,731,877 | $2,400,914 |
TOTAL CHANGE IN NET ASSETS |
($13,422,145) |
($9,780,781) |
$26,952,536 |
2024 Revenue Streams
2024 Expense Distribution
Data is based on audited financial statements prepared by Holthouse, Carlin, and Van Trigt, LLP.