| Enterprise Funds | Operating and CEDAC Loan Funds | Restricted Program Funds | Loan Funds Under Management | Total |
|---|---|---|---|---|
| Assets | ||||
| Total current assets | $29,126,838 | $7,828,640 | $90,162,839 | $127,118,317 |
| Total other assets | 26,875,393 | 1,020,466 | 15,134,210 | 43,030,069 |
| Total assets | $56,002,231 | $8,849,106 | $105,297,049 | $170,148,386 |
| Liabilities and Net Position | ||||
| Total current liabilities | 7,053,736 | 7,280,690 | 4,381,905 | 18,716,331 |
| Long term liabilities | 21,933,520 | — | 100,915,144 | 122,848,664 |
| Total liabilities | $28,987,256 | $7,280,690 | $105,297,049 | $141,564,995 |
| Net Position | ||||
| Unrestricted net position | 22,692,192 | — | — | 22,692,192 |
| Invested in capital assets | 49,845 | — | — | 49,845 |
| Restricted net position – expendable | 4,272,938 | 1,568,416 | — | 5,841,354 |
| Total net position | $27,014,975 | $1,568,416 | — | $28,583,391 |
| Total liabilities and net position | $56,002,231 | $8,849,106 | $105,297,049 | $170,148,386 |
| Enterprise Funds | Operating and CEDAC Loan Funds | Restricted Program Funds | Loan Funds Under Management | Total |
|---|---|---|---|---|
| Total operating revenues | $8,010,642 | $7,715,939 | $2,794,744 | $18,521,325 |
| Total operating expenses | 4,645,896 | 7,705,389 | — | 12,351,285 |
| Changes in net position from operations | 3,364,746 | 10,550 | 2,794,744 | 6,170,040 |
| Net operations of loan funds not recourse to CEDAC | — | — | (2,794,744) | (2,794,744) |
| Changes in net position | 3,364,746 | 10,550 | — | 3,375,296 |
| Net position, beginning of year | 23,650,229 | 1,557,866 | — | 25,208,095 |
| Net position, end of year | $27,014,975 | $1,568,416 | — | $28,583,391 |
Thank you to Carmen Panacopoulos who left the Board of Directors during fiscal year 2023.
CEDAC would like to offer sincere thanks to outgoing Board member Peter Daly. Peter was an invaluable resource on the Board, given his highly successful career as the longtime Executive Director of Homeowner’s Rehab, Inc. in Cambridge. He was a preeminent leader in the CDC housing world and brought his affordable housing development expertise to CEDAC. He served on this Board for over 26 years, including many years as our Vice Chair. We are grateful for Peter’s service to this organization and offer our best wishes on his retirement.
Farewell and thank you to Lionel Romain who departed in October 2023 after fifteen years of service to CEDAC.
*Welcome to new staff members who started after 7/1/23.