2018 Financials
| Assets | 2018 | 2017 |
|---|---|---|
| Assets | ||
| Cash and cash equivalents | $86,278,000 | $78,659,000 |
| Restricted cash and deposits | $94,881,000 | $74,964,000 |
| Accounts receivable – net | $10,890,000 | $11,609,000 |
| Notes receivable | $23,179,000 | $23,617,000 |
| Prepaid expenses, deposits and impounds | $13,381,000 | $13,974,000 |
| Property and equipment – net | $2,190,277,000 | $2,022,937,000 |
| Deferred costs – net | $5,375,000 | $5,079,000 |
| Land under lease and other investments | $10,802,000 | $10,186,000 |
| Total assets | $2,435,063,000 | $2,241,025,000 |
| Liabilities And Net Assets | ||
|---|---|---|
| Liabilities | ||
| Accounts payable and accrued expenses | $84,392,000 | $54,097,000 |
| Notes and interest payable | $1,723,336,000 | $1,596,879,000 |
| Deferred revenues | $16,988,000 | $21,388,000 |
| Security and other deposits | $6,699,000 | $6,779,000 |
| Total liabilities | $1,831,415,000 | $1,679,143,000 |
| Net assets: | ||
| Without donor restrictions: | ||
| Controlling interests | $161,211,000 | $166,027,000 |
| Non-controlling interests | $437,833,000 | $391,354,000 |
| Total unrestricted | $599,044,000 | $557,381,000 |
| With donor restrictions: | $4,604,000 | $4,501,000 |
| Total Net Assets | $603,648,000 | $561,882,000 |
| Total Liabilities and Net Assets | $2,435,063,000 | $2,241,025,000 |
* The above Financial Statements were consolidated adopting EITF 04-5 whereby entities which BRIDGE controls are consolidated. To obtain a copy of BRIDGE’s audited financial statements, please contact the BRIDGE offices.
| Activities | 2018 | 2017 |
|---|---|---|
| Support and revenue: | ||
| Rental income – net of vacancies and concessions | $148,251,000 | $135,494,000 |
| Developer Fees | $13,839,000 | $11,381,000 |
| Management revenue | $1,898,000 | $2,727,000 |
| Contributions | $12,645,000 | $23,212,000 |
| Interest income | $1,875,000 | $2,759,000 |
| Other | $13,608,000 | $7,348,000 |
| Total support and revenue | $192,116,000 | $182,921,000 |
| Expenses: | ||
| Program services (1) | $152,319,000 | $137,694,000 |
| Supporting services | $8,114,000 | $7,395,000 |
| Fundraising | $916,000 | $674,000 |
| Total Expenses | $161,349,000 | $145,763,000 |
| Cash Operating Income | $30,767,000 | $37,158,000 |
(1) Expenses exclude $66,803,000 and $54,634,000 of non-cash Depreciation and Amortization Expense and $18,284,000 and $16,663,000 of non-cash Interest Expense on project related subordinate financing in 2018 and 2017 respectively.
| Position | |
|---|---|
| Assets | |
| Cash and Cash Equivalents | |
| 2018 | $86,278,000 |
| 2017 | $78,659,000 |
| Restricted Cash and Deposits | |
| 2018 | $94,881,000 |
| 2017 | $74,964,000 |
| Accounts Receivable – Net | |
| 2018 | $10,890,000 |
| 2017 | $11,609,000 |
| Notes Receivable | |
| 2018 | $23,179,000 |
| 2017 | $23,617,000 |
| Prepaid Expenses, Deposits and Impounds | |
| 2018 | $13,381,000 |
| 2017 | $13,974,000 |
| Property and Equipment – Net | |
| 2018 | $2,190,277,000 |
| 2017 | $2,022,937,000 |
| Deferred Costs – Net | |
| 2018 | $5,375,000 |
| 2017 | $5,079,000 |
| Land Under Lease and Other Investments | |
| 2018 | $10,802,000 |
| 2017 | $10,186,000 |
| Total Assets | |
| 2018 | $2,435,063,000 |
| 2017 | $2,241,025,000 |
| Liabilities And Net Assets | |
|---|---|
| Liabilities | |
| Accounts Payable and Accrued Expenses | |
| 2018 | $84,392,000 |
| 2017 | $54,097,000 |
| Notes and Interest Payable | |
| 2018 | $1,723,336,000 |
| 2017 | $1,596,879,000 |
| Deferred Revenues | |
| 2018 | $16,988,000 |
| 2017 | $21,388,000 |
| Security and Other Deposits | |
| 2018 | $6,699,000 |
| 2017 | $6,779,000 |
| Total Liabilities | |
| 2018 | $1,831,415,000 |
| 2017 | $1,679,143,000 |
| Net Assets: | |
| Unrestricted: | |
| Controlling interests | |
| 2018 | $161,211,000 |
| 2017 | $166,027,000 |
| Non-controlling interests | |
| 2018 | $437,833,000 |
| 2017 | $391,354,000 |
| Total Without Donor Restrictions | |
| 2018 | $599,044,000 |
| 2017 | $557,381,000 |
| With Donor Restrictions | |
| 2018 | $4,604,000 |
| 2017 | $4,501,000 |
| Total Net Assets | |
| 2018 | $603,648,000 |
| 2017 | $561,882,000 |
| Total Liabilities and Net Assets | |
| 2018 | $2,435,063,000 |
| 2017 | $2,241,025,000 |
* The above Financial Statements were consolidated adopting EITF 04-5 whereby entities which BRIDGE controls are consolidated. To obtain a copy of BRIDGE’s audited financial statements, please contact the BRIDGE offices.
| Activities | |
|---|---|
| Support and revenue: | |
| Rental Income – Net of Vacancies and Concessions | |
| 2018 | $135,494,000 |
| 2017 | $126,657,000 |
| Developer Fees | |
| 2018 | $11,381,000 |
| 2017 | $12,750,000 |
| Management revenue | |
| 2018 | $2,727,000 |
| 2017 | $2,806,000 |
| Contributions | |
| 2018 | $23,212,000 |
| 2017 | $22,277,000 |
| Interest Income | |
| 2018 | $2,759,000 |
| 2017 | $1,642,000 |
| Other | |
| 2018 | $7,348,000 |
| 2017 | $4,153,000 |
| Total Support and Revenue | |
| 2018 | $182,921,000 |
| 2017 | $170,285,000 |
| Expenses: | |
| Program services (1) | |
| 2018 | $137,694,000 |
| 2017 | $145,701,000 |
| Supporting services | |
| 2018 | $7,395,000 |
| 2017 | $7,285,000 |
| Fundraising | |
| 2018 | $674,000 |
| 2017 | $625,000 |
| Total Expenses | |
| 2018 | $145,763,000 |
| 2017 | $153,611,000 |
| Cash Operating Income | |
| 2018 | $37,158,000 |
| 2017 | $16,674,000 |
* The above Financial Statements were consolidated adopting EITF 04-5 whereby entities which BRIDGE controls are consolidated. To obtain a copy of BRIDGE’s audited financial statements, please contact the BRIDGE offices.