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UNITED CHURCH HOMES FINANCIAL HIGHLIGHTS
Financial Highlights provides a general overview of the financial status of United Church Homes.
The Balance Sheet and Income Statement reflect information for United Church Homes, Inc. only. They do not include the balances and income information from our for-profit subsidiary (United Church Homes Management, Inc.) or any of our Housing subsidiaries. The format as presented is not intended to comply with all GAAP requirements and as such does not. For further information contact John Stoner, Vice President — Financial Services at JStoner@uchinc.org.
| Financial Statement Recap |
 |
|
|
| |
12/31/08 |
12/31/07 |
| Cash & cash equivalents |
3.234.350 |
2,989,654 |
 |
| Investments |
13,131,036 |
24,677,872 |
|
| Receivable, Net of Bad Debt Allowance |
7,653,076 |
8,719,489 |
|
| Prepaid Expenses |
757,449 |
1,020,355 |
|
| Assests Whose Use Is Limited |
3,299,810 |
525,461 |
|
| Total Current Assets |
28,075,721 |
37,932,831 |
|
|
| Donor Temporarily Restricted |
466,475 |
1,000,567 |
|
| Donor Restricted |
5,552,556 |
7,480,552 |
|
| Under Terms of Bond Indenture Agreements |
2,745,771 |
2,869,312 |
|
| Other |
968,385 |
1,454,128 |
|
| Total Assets Whose Use is Limited |
9,733,187 |
12,804,559 |
|
|
| Property and Equipment, Net |
43,937,811 |
44,957,306 |
|
|
| Land Held for Future Development |
3,740,945 |
4,341,386 |
|
| Bond Issuance Costs, Net of Amortization |
1,397,372 |
1,873,976 |
|
| Operating Rights |
1,199,180 |
2,387,936 |
|
| Receivables From Affiliates |
3,843,414 |
5,922,424 |
|
| Investments in Affiliates |
2,000,000 |
3,429,292 |
|
| Other Assets |
246,544 |
250,531 |
|
| Total Other Assets |
12,427,455 |
18,205,545 |
|
|
| TOTAL ASSETS |
94,174,174 |
113,900,241 |
|
|
| Accounts Payable |
2,144,840 |
2,977,623 |
|
| Line of Credit |
5,000,000 |
4,250,000 |
|
| Other Accrued Liabilities |
1,140,589 |
1,406,678 |
|
| Accrued Compensation and Benefits |
5,320,738 |
4,722,981 |
|
| Long–Term Obligations Due Within One Year |
2,728,981 |
2,576,652 |
|
| Series 1993 Bonds Purchased Within One Year |
11,450,000 |
|
|
| Series 2002 Bonds |
24,061,019 |
|
|
| Residents' Funds |
267,767 |
293,684 |
|
| Total Current Liabilities |
52,113,934 |
16,227,618 |
|
|
| Long–Term Obligations Due After One Year |
2,098,413 |
39,872,613 |
|
| Payables to Affiliates |
10,623 |
18,765 |
|
|
| Refundable Entrance Fees |
5,099,924 |
4,971,845 |
|
| Deferred Revenues |
692,713 |
818,312 |
|
| Deferred Entrance Fee Revenue |
1,169,103 |
1,122,781 |
|
| Other |
2,353,805 |
560,304 |
|
| Total Other Long–Term Liabilities and Deferred Revenues |
9,315,545 |
7,473,242 |
|
|
| General Unrestricted Net Assets |
24,050,290 |
41,187,975 |
|
| Board Designated |
15,723 |
1,770,075 |
|
| Total Unrestricted |
24,066,013 |
42,958,050 |
|
|
|
| Temporarily Restricted |
577,818 |
1,178,520 |
|
| Permanently Restricted (Endowment Fund) |
5,991,828 |
6,171,433 |
|
| Total Net Assets |
30,635,659 |
50,308,003 |
|
| TOTAL LIABILITIES, DEFERRED REVENUES, AND NET ASSETS |
94,174,174 |
113,900,241 |
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