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Home My WebLink About08/21/2025 - HOUSING CATALYST - AGENDA - Regular MeetingHousing Catalyst Board of Commissioners - August 21, 2025 Agenda August 21, 2025 8:00am - 9:30am MDT In person: Housing Catalyst, 1715 W Mountain Ave, Fort Collins, CO / ZOOM: https://us06web.zoom.us/j/85448061473?pwd=0OYKbb0r6uLHjR16YB2Q7eS75LKPZw.1 I.Call to Order (8:00-8:05)Lizette Mill a.Mindful Moment b.Citizen Input II.Approval of Minutes from July 17, 2025 Board Meeting Lizette Mill HC BOC meeting 7.17.2025.pdf III.Action Items a.Private Activity Bond Carryforward Kristin Fritz 2025-08-1 - Bond Carryforward Board Memo.pdf HC-RES-2025-08-01 - Inducement Resolution - 2025 Volume Cap.pdf IV.Committee Updates a.Development Committee Update Kristin Fritz Development Milestones (Aug 2025).pdf Development 5-Year Project Plans (Aug 2025).pdf b.Audit & Finance Committee Update Tonya Frammolino AFC - 2025.08 Board Report Final_v1.pdf 1.Q2 Quarterly Business Update Report (QBU) HC - 2025 Q2 - QBU v1.2.pdf c.Advocacy Committee Update Anne Nelsen 8:00am 8:05am 8:05am 8:10am 8:10am 8:20am 8:35am 11 d.Other Updates V.Discussion Items VI.Legislative and Advocacy Updates a.Colorado Legislative Update Julie Brewen b.National Legislative Update Julie Brewen c.Fort Collins City Council Legislative and Business Update Emily Francis d.Larimer County Commission Update John Kefalas VII.Legal Issues Jim Martell VIII.Other Business a.Special Presentation - Strategic Plan Goal 7: Advance Housing Catalyst as an employer of choice Angelika Lintner Goal 7 Presentation 2025.pdf Reduced Work Schedule Report - Housing Catalyst .pdf IX.Good News X.Upcoming Events Development Committee - September 4, 2025 Audit & Finance Committee - September 8, 2025 Advocacy Committee - September 15, 2025 Housing Catalyst Board of Commissioners - September 21, 2025 Wellington Community Housing Board of Directors - November 1, 2025 NAHRO 2025 National Conference & Exhibition - September 28 - 30, 2025 XI.Adjournment Lizette Mill XII.For Your Information 8:40am 8:40am 8:45am 8:50am 8:55am 9:00am 9:00am 9:30am END 22 33 Board of Commissioners of Housing Catalyst J ULY 1 7 , 2 02 5 Attendees: Commissioners: Anne Nelsen-Vice Chair, Emily Francis, Jennifer Wagner, Joseph Penta, Karen Dunbar, Heather Clemenshaw, County Commissioner John Kefas (Liaison), (Virtual): Lizette Mill- Chair Staﬀ: Angelika Lintner, Kristin Fritz, Traci McGraw, Attorney Jim Martell, Isela Orozco, (Virtual): Meaghan Overton, Lisa Hernandez, Michele Christensen, Julie Brewen, Carri Ratazzi, Carly Johanson, Rachel Gaisford Guests: (Virtual) Nicole Martin, Vanessa Fenley I. C AL L TO O RD ER Vice Chair Nelsen called the meeting to order at 8:00 a.m. a. Mindful Moment The group engaged in a Mindful Moment as the meeting was called to order. b. Citizen Input There was no Citizen input. II. APPROVAL OF MIN UT ES F RO M JUN E 2 6 , 2 02 5 BOARD MEET IN G Commissioner Karen Dunbar moved to approve the minutes of the June 26, 2025 meeting. Commissioner Jennifer Wagner seconded, and the motion was passed unanimously. 4 III. CO MMIT T EE UPDAT ES a. Development Committee Update Chief Real Estate Oﬃcer Kristin Fritz provided the 5-Year Project Plans and Milestones; both are in the Board meeting packet for reference. Project Updates of note included: • Village on Eastbrook - Tax Credit Application o Housing Catalyst will resubmit the tax credit application for Village on Eastbrook this August. With funding gaps driven by loss of project-based vouchers, solar tax credits, and reduced state resources, staﬀ are pursuing multiple alternative funding sources. • Property Sales o The Myrtle property and Villages, LTD. duplexes are under contract. The previously approved disposition of these properties is ahead of schedule. • Oak and Remington Redevelopment o The Remington project is on hold pending a revised memorandum of understanding. The City of Fort Collins will conduct a parking study and present ﬁndings to Council in the fall (September or October). Housing Catalyst is awaiting next steps from City staﬀ. b. Advocacy Committee Update Chief Executive Oﬃcer Julie Brewen provided an update as she and Chair Lizette Mill are in New York attending the NAHRO Summer Symposium. Ms. Brewen shared that advocacy, communications, and messaging remain ongoing priorities, with eﬀorts focused on taking advantage of every opportunity to share Housing Catalyst’s work and priorities. While at the symposium, they reviewed a NAHRO tool that illustrates voucher program utilization in Colorado, which will be valuable for myth-busting claims about ineﬃciencies and under-leasing by housing authorities. 5 A meeting with a congressional staﬀ member is scheduled for July 22 in Wellington, and meetings with City Council members are ongoing following the Housing Work Session. Recent discussions have included local elected oﬃcials and candidates, with plans to meet with a state representative ahead of the Colorado legislature’s upcoming special session. It was noted that Housing Catalyst recently completed an economic impact study highlighting the organization’s contribution to Fort Collins and Larimer County. An executive summary will be prepared for presentation at an upcoming board meeting. The study will serve as an advocacy tool, reinforcing the organization’s credibility, expertise, and signiﬁcant community impact. IV. D R AFT POL ICY UPDAT E a. Director of Rental Assistance Programs Traci McGraw presented a draft policy for terminating Housing Choice Voucher participants if funding is insuﬃcient. Before terminations, Housing Catalyst would implement cost-saving measures (e.g., lower payment standards, freeze new vouchers). If still needed, terminations would follow and order which is intended to protect the most vulnerable people from losing their assistance as much as possible: elderly, persons with disabilities, project-based vouchers, then families with minor children; others by random lottery. Households would receive 60-day notice and possible reinstatement if funding improves. Updating this policy is prompted by recent shortfall status and potential federal funding cuts. The draft policy is located in Boardable for reference. V. L EGISL AT IVE AN D ADVO CACY UPDAT E a. Colorado Legislative Update Ms. Brewen shared a special legislative session is anticipated, with details still emerging. The Department of Local Aﬀairs (DOLA)is planning a statewide meeting with federal legislators to discuss housing budgets. Leadership will continue regular communication with both state and federal legislators to track developments and coordinate advocacy. b. National Legislative Update 6 Ms. Brewen shared the House draft budget maintains funding for housing assistance but reduces administrative fees and includes time limits and work requirements. Block granting to states is not included. Federal and state housing agencies are planning discussions with legislators, and local leadership will continue close communication to monitor developments. c. Fort Collins City Council Legislative and Business Update Mayor Pro Tem Emily Francis reported the City of Fort Collins is facing a $12M budget shortfall. The City of Fort Collins, Larimer County, CSU, UC Health and other partners are preparing a joint presentation with community sessions to explain federal, state, and local budget impacts and collaborative responses. Sessions are expected before the end of the state special session. d. Larimer County Commission Update Commissioner John Kefalas announced the release of the County’s comprehensive Housing Resource Guide. The August 11 special legislative session may include proposals for a regional Prop 123 opt-in and allowing counties to use property tax revenue for aﬀordable housing. Wellington is also exploring a Prop 123 opt-in. The County will hold regular meetings with its Legislative Director to track possible changes to Prop 123. Commissioner Kefalas also reported on a legislative roundtable that discussed housing aﬀordability challenges for individuals re-entering the community. Additional updates included the Longview Campus expansion, with a 5-bed adolescent crisis unit opening by year-end, and County polling on potential transportation and early childhood education sales tax measures. VI. L EGAL ISS UES There are no new legal issues. VII. OT HER B US IN ESS a. 302 Conifer Project 7 Housing Catalyst is a special limited partner in the project, providing a prorated tax exemption for units at or below 80% AMI. The developers encountered ﬁnancing issues and requested an extension of the exemption to include units above 80% AMI. Legal review determined this was not permissible under the deﬁnition of “low income,” as those units are considered market rate. Housing Catalyst declined the request, and the developers are now pursuing alternative solutions, including additional URA contributions, to close the income gap. Housing Catalyst ’s position has remained consistent with prior agreements. VIII. G OO D N EWS Mayor Pro Tem Emily Francis shared The City of Fort Collins has oﬃcially closed on the Albertson’s property. IX. AD JO URN HO USIN G C ATALYST BOARD OF CO MMIS S ION ERS AN D VIL LAGES , LTD. Vice Chair Nelsen adjourned the meeting at 9:15 am. X. UP CO MIN G EVEN TS Development Committee - August 4, 2025 Audit & Finance Committee - August 11, 2025 Advocacy Committee - July 21, 2025 Housing Catalyst Board of Commissioners - August 21, 2025 Wellington Community Housing Board of Directors - August 7, 2025 Care Heartside Hill Grand Opening - August 7, 2025 NAHRO's 2025 National Conference (Phoenix, AZ) - Sept 28-30, 205 8 Resolution # HC-RES-2025-08-01 To: Housing Catalyst Board of Commissioners From: Kristin Fritz, Chief Real Estate Officer Meeting Date: August 21, 2025 Action Item: 2025 Private Activity Bond Allocation Carry Forward Board Action Requested: Approval of HC-RES-2025-08-01 to meet requirements to carryforward unused Private Activity Bond (PAB) cap. Alignment to Strategic Plan: The annual process to carry forward Private Activity Bond awards supports Goal 2: Increase supply of affordable housing. Background: Housing Catalyst continues to accumulate the Private Activity Bond (PAB) cap necessary to fund new affordable housing developments. Federal law requires that unused bond cap be officially carried forward for use in future years. Description: ln 2025, Housing Catalyst was awarded the following PAB allocations: The 2025 PAB awards will be used to fulfill the PAB requirements for CARE Communities’ rehabilitation of its Windtrail Park Apartments and for other qualifying projects that are in the development pipelines of Housing Catalyst, Loveland Housing Authority, and/or Estes Park Housing Authority. To utilize the 2025 PAB awards in future years, the allocations must be officially carried forward through filings with the State of Colorado and the Internal Revenue Service. An approved board resolution is a necessary component of the carryforward filing. Fiscal Impact: When bonds are issued, bond issuance fees of .027% of the amount issued are due to the Department of Local Affairs (DOLA). In turn, structuring new tax credit development partnerships that require using Private Activity Bonds, allows the Real Estate Development Department to earn developer fees and bond issuance fees that both provide income to Housing Catalyst, through payment of management fees and program overhead and enables the Department to leverage funds and invest in additional affordable housing development. Summary: Staff recommends approval of HC-RES-2025-08-01 to meet requirements to carryforward unused Private Activity Bond (PAB) cap. 9 RESOLUTION NO. HC-RES-2025-08-01 RESOLUTION OF THE BOARD OF COMMISSIONERS OF HOUSING CATALYST EXPRESSING AN INTENT TO ISSUE MULTIFAMILY HOUSING REVENUE BONDS AND AUTHORIZING THE TAKING OF ALL OTHER ACTIONS NECESSARY TO THE CONSUMMATION OF THE TRANSACTIONS CONTEMPLATED BY THIS RESOLUTION. WHEREAS, Housing Catalyst (the “Authority”) has been created as a body corporate and politic, exercising public and essential governmental functions; and WHEREAS, the Authority is authorized and empowered by the constitution and laws of the State of Colorado, including particularly Part 2 of Article 4 of Title 29 of the Colorado Revised Statutes, as amended, the Supplemental Public Securities Act constituting Part 2 of Article 57, Title 11, Colorado Revised Statutes, as amended, and Article 56, Title 11, Colorado Revised Statutes, as amended (collectively, the “Act”) to issue bonds to finance the acquisition, construction and improvement of housing projects for persons of low income; and WHEREAS, the Authority intends to issue multifamily housing revenue bonds (the “Bonds”) in one or more series for the purpose of financing the acquisition, construction and/or rehabilitation of one or more multifamily rental housing developments located in Fort Collins, Larimer County, Colorado to be occupied by persons of low and/or moderate income in compliance with the Act, the rules of the Authority and applicable provisions of the Internal Revenue Code of 1986, as amended, and plans to utilize all of the 2025 private activity bond allocation assigned to the Authority by Larimer County, Colorado in the amount of $6,866,420 and all of the 2025 private activity bond allocation assigned to the Authority by the City of Fort Collins, Colorado in the amount of $11,184,752 (collectively, the “Assigned Cap”) in connection therewith; and WHEREAS, the Authority has determined that it is appropriate and necessary that the Authority express its intention to issue the Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF HOUSING CATALYST THAT: 1. In order to finance the acquisition, construction and/or rehabilitation of one or more multifamily rental housing developments located in Fort Collins, Larimer County, Colorado to be occupied by persons of low and/or moderate income in compliance with the Act, the rules of the Authority and applicable provisions of the Internal Revenue Code of 1986, as amended, the Authority hereby expresses its intent to issue the Bonds and to utilize all of the Assigned Cap in connection with the issuance of the Bonds. The exact bond designations, amounts, maturities, interest rates, redemption terms and other terms and provisions of the Bonds will be determined by a future resolution of the Authority. 10 2 4854-8393-9189, v. 2 2. The provisions of this resolution are hereby declared to be separable, and if any section, phrase or provision shall for any reason be declared to be invalid, such declaration shall not affect the validity of the remainder of the sections, phrases or provisions. 3. That this Resolution shall become effective immediately upon its passage and approval. 11 (Signature Page to Inducement Resolution – 2025 Volume Cap Assignment) S-1 Adopted and approved this 21st day of August, 2025 by the Board of Commissioners of Housing Catalyst. By: Chairperson ATTEST: Secretary 12 Development Milestones 13 14 Development 5-Year Project Plans 15 Audit & Finance Committee B O A R D R E P O R T | A U G U S T 2 0 2 5 16 CO MMIT T EE: Audit & Finance Committee CO MMIT T EE C HAIR: Lizette Mill CO MMIT T EE MEMB ERS : Ann Green, Karen Dunbar, Eric Lea, Kyle McPherson S T AFF S PON SOR : Tonya Frammolino, CFO Main Objectives for the Committee: The purpose of the Committee is to assist the Board in fulfilling its oversight responsibilities with respect to Housing Catalyst’s financial transactions, engagement of financial professionals, and the investment of its assets. This is a summary report on the Committee's work this past month, with any necessary recommendations to the full board. Attached to this report are the approved committee meeting minutes from the previous meeting along with any reports approved to be shared with the Board. Summary of recent activities:  Q2 Quarterly Business Update (QBU) Report – Provided a high‑level review of second‑quarter financial and operational results, with emphasis on budget alignment and key variances.  LOC Annual Renewal – Housing Catalyst & Villages Ltd. – Update only; a two‑year term was executed last year, so no renewal review is required in 2025.  Charter Review & Self‑Evaluation Checklist Assignment – Distributed for committee review, with results and any suggested edits to be discussed at the next meeting.  Review of Significant Accounting & Reporting Issues – Informational presentation connecting notable reporting matters back to the committee’s charter responsibilities and oversight role.  Oak 140 and Housing Catalyst Annual Disclosure Compliance Questionnaires – Completed as part of EMMA reporting requirements for publicly traded revenue bonds.  Budget Special Meeting Scheduled for October 9, 2025 – Special meeting to focus on draft budget results and related decisions. Summary of recent accomplishments:  Eide Bailly Presentation of Final FY2024 Results - Delivered the final Annual Comprehensive Financial Report (ACFR) and related components, including audit findings. Eide Bailly issued a clean, unqualified audit opinion on the financial statements, with no findings reported. This included the Single Audit, which also resulted in no findings or questioned costs. Upcoming events, discussions, and activities:  Charter Review & Adherence - Finalize and Approve  Committee Self Evaluation - Finalize and Approve  PH Portal, 52574 Board Resolution of board approval of the CY budget  SPECIAL MEETING - Annual Budget - Initial Draft Review  S&P Annual Questionnaire Submittal Overview – Informational 17 Reports and documents available for review in Boardable in the documents folder for this meeting:  EXHIBIT A: June AFC Approved Meeting Minutes  EXHIBIT B: Q2 Quarterly Business Update Report  EXHIBIT C: Audit and Finance Committee Charter  EXHIBIT D: Committee Self Assesment  EXHIBIT E: Oak 140 and HC - Annual Disclosure Compliance Questionnaire Action items: The Audit & Finance Committee hereby recommends that the Housing Catalyst Board of Commissioners take the following actions: • No actions at this time 18 Quarterly Business Update Y e a r -t o -D a t e | J u n e 3 0 , 2 0 2 5 19 Contents ABOUT THIS REPORT .................................................................................................................................................................. 1 EXECUTIVE SUMMARY................................................................................................................................................................ 1 AGENCY-LEVEL PERFORMANCE ................................................................................................................................................... 2 FINANCIAL OVERVIEW ................................................................................................................................................................................... 2 BUSINESS UNIT AND COST CENTER DETAILS ...................................................................................................................................................... 4 Cost Center Summary ......................................................................................................................................................................... 5 Business Unit Summary ...................................................................................................................................................................... 5 CONSOLIDATED BALANCE SHEET ..................................................................................................................................................................... 6 VOUCHER PROGRAMS ................................................................................................................................................................ 9 FINANCIAL OUTLOOK .................................................................................................................................................................................... 9 UTILIZATION STRATEGY ................................................................................................................................................................................. 9 RESERVE MANAGEMENT ............................................................................................................................................................................. 10 REAL ESTATE SUMMARY........................................................................................................................................................... 10 LIHTC PORTFOLIO ..................................................................................................................................................................................... 10 VILLAGES, LTD. PORTFOLIO .......................................................................................................................................................................... 11 WELLINGTON PORTFOLIO ............................................................................................................................................................................ 12 CLOSING STATEMENT ............................................................................................................................................................... 12 EXHIBITS .................................................................................................................................................................................. 13 20 About this Report The purpose of this report is to present the year-to-date financial results for the operations of Housing Catalyst, demonstrating our ongoing commitment to fostering vibrant and sustainable communities throughout Northern Colorado. As a public housing authority, Housing Catalyst is dedicated to providing quality affordable housing and supportive services to our residents. To enhance clarity and align with audit standards, this report introduces a consolidated balance sheet, providing a comprehensive view of our assets, liabilities, and equity by including all segments—such as voucher programs, Villages, Ltd., and public housing—alongside the parent agency. This consolidated approach aligns our balance sheet presentation with our annual audited financials, offering the Board of Commissioners a unified snapshot of Housing Catalyst’s financial position. While the balance sheet is presented on a consolidated basis, budget comparisons and performance analyses are shown as YTD results by segment to support strategic decision-making. Specifically, segmented data is provided for the agency- level functions including development, voucher programs, and real estate portfolios. This structure ensures each major component retains a clear and individualized focus for management discussion and planning. All financial data throughout this report is presented on a year-to-date (YTD) basis, unless otherwise noted. By providing this comprehensive overview, the report aims to support the Board in their oversight responsibilities and strategic guidance. Key financial highlights, significant variances, and ongoing strategic initiatives are summarized in this executive summary, with detailed analyses and supporting data included in the following sections. Executive Summary Housing Catalyst’s Q2 2025 results reflect strong operational momentum and continued financial stability across the organization. Strategic focus remains on ensuring financial resilience, managing emerging risks such as property insurance volatility, and supporting properties and programs that advance our mission. A GENCY H IGHLIGHTS Agency-level operations are tracking favorably to budget. Through this reporting period, the agency closed with net operating income of $691K, exceeding expectations by $738k. This favorable variance is a result of both timing differences in revenue recognition and cost allocations, as well as structural savings from labor and overhead. These savings reflect a combination of disciplined cost control amid federal funding uncertainty and some overstatements in budgeted line items. The consolidated balance sheet shows strong liquidity and healthy cash reserves, with an increase of $3.7M in unrestricted cash during the first two quarters. Investments in development and capital projects are advancing strategically, and centralized service departments continue to operate efficiently within budget. While no immediate financial stress is evident, material risk related to potential federal funding cuts—particularly to the voucher program—has been identified. These risks are being closely monitored, though the timing and scale of any impact remain uncertain. The agency continues to maintain a conservative fiscal posture and to focus on long-term planning to preserve stability and mission delivery under varying funding conditions. MISSION: To create vibrant, sustainable communities throughout Northern Colorado HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 1 of 19421 V OUCHER P ROGRAMS Year-to-date the voucher program is performing within expectations, with Housing Assistance Payments (HAP) tracking slightly above internal budget projections. This variance is driven by rising per-unit costs in a high-rent market. We continue to monitor proration rates and disbursement guidance closely. Given the uncertainty around future federal appropriations, we are taking a prudent and conservative approach to voucher management and maintaining close oversight to ensure the program can adapt quickly if funding conditions shift. R EAL E STATE P ORTFOLIOS Across the LIHTC, Villages, and Wellington portfolios, occupancy remains strong, and core property operations are steady. However, some properties are experiencing pressure due to elevated maintenance costs, delayed insurance adjustments, and resident service support needs. Housing Catalyst has provided targeted financial support to select properties where resident service costs would otherwise compromise financial benchmarks. Four properties are currently on the Watch List based on DSCR forecasts, and strategic responses are underway to mitigate risk and maintain lender and investor compliance. Those projects are reviewed in more detail later in this report. Agency-Level Performance The Agency-level performance represents Housing Catalyst’s core administrative and operational functions. It includes the business units for development, maintenance, property operations, rental assistance, resident services, and general fund activities, all fully burdened with cost center overhead. These functions support the organization’s strategic direction and overall financial and operational management, independent of the real estate portfolios or voucher programs. FINANCIAL OVERVIEW YTD Net Operating Income (Loss): ($49,140) YTD Variance to Budget: $957,336; 95% Favorable As our primary measure of operational performance, NOI offers a clear view of core activities by isolating operating revenues and expenses, allowing us to effectively assess day-to-day operational efficiency. This focus on NOI aligns with our commitment to operational efficiency and financial sustainability. While NOI remains our main in dicator, non- operating items, net income (loss), and a detailed breakdown of the YTD variance to budget for NOI are disclosed in the following sections to provide a complete view of our financial performance. O PERATING R EVENUES YTD Period Balance: $5,393,679 YTD Variance to Budget: $422,064; 8.5% Favorable Year-to-date agency revenues are exceeding budget, reflecting strong performance across core service lines, some intentional deferrals, and one-time contributions. The most significant drivers are outlined below: • Grant Revenue: Overall, on track. A favorable variance in HUD CoC grants $37.2K; 15.3% helped offset shortfalls in Family Self-Sufficiency ($5.2K; 4.1%) and Non-Government Grants ($6.7K; 100%). All variances are timing- related, as grant revenue is recognized as eligible expenses are incurred. • Agency Revenue: Favorable overall $348K; 7.8% favorable overall. o Voucher management fees $87K; 10.8% favorable due to alignment of admin fee income with actual eligible costs since this is similar to grants where we earn this revenue when expenses are incurred assuming the per voucher admin fee from HUD is sufficient to pay. HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 2 of 19422 o Mission-Driven Support $118.6K; 67% favorable is due to intentionally delaying credits to the properties until absolutely necessary. Thus, the properties that are earmarked to receive this aid will have a negative impact on their performance until such time we deem necessary to issue. o Acquisition and Disposition Fees earned by the Development Dept. on the sales of Villages, Ltd. asset sales were unbudgeted and came in $150K favorable. o Other admin and Asset management fees are charged internally to Villages, Ltd. and are showing favorable $57.1K; 52.5%; further investigation into these calculations to occur in 3rd quarter to confirm application of these new fee types are being applied correctly. o Capital and Project management fee revenue is missing targets by ($65.9K; 128.6%) due to delays on several capital projects across the portfolio both unplanned and intentional. The team is reassessing what is absolutely critical to ensure cash reserves are kept strong given the economic uncertainty. • Mission-Driven Support Credits: $58.5K issued through Q2, lower than the $177K budgeted due to the agency’s current posture of delaying discretionary support unless needed for compliance or critical financial stabilization. • Miscellaneous Income: $41.8K; unbudgeted income from unexpected receipt of rent and cam reimbursements on the mason parking lot parcel along with bond monitoring fees. The agency remains on stable footing, with revenues exceeding expectations, driven by a mix of timing, unbudgeted activity, and intentional pacing of discretionary support to preserve financial flexibility. O PERATING E XPENSES YTD Period Balance: $5,442,820 YTD Variance to Budget: $535,272; 9% Favorable Operating expenses reflect the cost of managing Housing Catalyst’s business units and supporting service delivery across the agency. Year-to-date performance ended favorably against budget, with multiple categories underspending expectations. Highlights include: • $256.1K; 5.2% Favorable Labor Expenses: Primarily due to open positions and lower-than-budgeted benefits due to a budgeting error applying benefits to non-benefit staff wages. These savings are expected to be permanent. • $143.8K; 43.8% Favorable Other Administrative Expenses: Underspending is largely due to seasonal activity coupled with some intentional underspending of non-critical outlays due to economic uncertainty. Staff training, travel, and consulting were below expected levels, though some catch-up is anticipated later in the year. • $54.2K; 13.4% Favorable Technology Expenses: Resulting from timing delays in major implementations. The HRIS contract was not fully utilized this quarter, and the planned transition to cloud and SharePoint was deferred after identifying the need to first prioritize our separation from City-managed IT services. These projects are now expected to resume in late 2026 to 2027. • $83.0K; 25.4% Favorable General Expenses: Driven by lower-than-expected spending across multiple categories both due to timing and intentional. Additionally, there is research into the unexpected favorable vehicle expenses under maintenance. While some categories reflect timing differences, many of the savings are structural and expected to continue. Staff will continue to monitor trends to determine if reallocation or strategic reinvestment is appropriate. N ET N ON -O PERATING I NCOME (E XPENSES ) YTD Period Balance: $605,827 YTD Variance to Budget: ($162,671); (21%) Unfavorable HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 3 of 19423 The non-operating section captures financial activity outside of Housing Catalyst’s core business functions, including interest income and expense, amortization, and depreciation. These items do not reflect operating performance but are key to understanding the organization’s full financial picture. • Non-Operating Activity: Came in below expectations, primarily driven by a ($177.8K; 20.0%) unfavorable variance in interest income from soft debt. This shortfall reflects delayed project closings and the resulting timing of internal loan activity. Offsetting this, the agency recorded $22K in unbudgeted interest income from intercompany hard debt loans. While some amortization and depreciation variances were noted, they are non- cash in nature and not material to current operations. These items will continue to be monitored. N ET I NCOME /(L OSS ) YTD Period Balance: $556,686 YTD Variance to Budget: $794,665; 334% Favorable Net income reflects Housing Catalyst’s total earnings after all revenue, expenses, and non-operating items have been accounted for. It offers a complete snapshot of the agency’s financial performance, capturing both day -to-day operational outcomes and broader financial activities such as depreciation, intercompany transfers, and interest income. The favorable year-to-date variance is primarily driven by strong cost containment across multiple departments, particularly in technology, general expenses, and staffing allocations. Additionally, timing delays in discretionary initiatives, such as the cloud transition and HRIS implementation, contributed to underspending. While some unbudgeted revenues—such as intercompany interest income and bond monitoring fees—helped offset shortfalls in other areas, the overall net income position reflects disciplined financial stewardship and a cautious posture in response to broader economic uncertainty. These factors position the agency well as it enters the second half of the year. BUSINESS UNIT AND COST CENTER DETAILS This section moves beyond the agency-wide financial summary to provide a closer look at the performance of each business unit and its associated cost centers. By detailing the financial results of our core operational areas, including development, maintenance, property operations, rental assistance, resident services, and general administration, we highlight how individual units contribute to Housing Catalyst’s overall financial position. The analysis focuses on variances to budget, revenue and cost drivers, and notable trends within each unit. This breakdown is designed to support transparent resource planning, assess alignment with strategic priorities, and identify opportunities for operational improvement or course correction as we move through the year. HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 4 of 19424 Cost Center Summary This section provides a snapshot of Housing Catalyst’s core cost centers, which serve as the administrative backbone supporting the operations, programs, and services across the agency. While each cost center plays a distinct role in ensuring smooth and strategic organizational performance, their total costs are not assigned to any single department—instead, they are allocated across the agency’s business units based on specific allocation methodologies. Year-to-date, the cost-center spending is $275.6K; 11.4% below budget. The largest area of underspending is in Talent Management, driven by delayed implementation of planned training and recruiting activities. Financial Services and Administrative Support also reported savings, primarily from vacancies and reduced professional service usage. These favorable variances suggest continued discipline in managing agency-wide overhead costs. The accompanying pie chart illustrates the proportional cost of each function relative to total cost center spending. Administrative Support represents the largest share, followed by Financial Services, Information Technology, Talent Management, and Facilities/SG&A. This distribution reflects the operational emphasis placed on centralized coordination and service delivery. The table below summarizes cost center performance through the current reporting period, comparing actual to budgeted expenses and identifying the primary drivers of any significant variances. Cost Center Allocation Actual Budget Variance $ Variance % Drivers Financial Services $522,953 $572,147 $49,194 8.6% Vacancy savings; lower consulting and timing of rating agency expenses Talent Management $255,952 $353,093 $97,141 27.5% Delay in implementation of training programs and recruiting activity Information Technology $417,056 $448,025 $30,969 6.9% Deferred software projects; partial utilization of IT hardware budget Administrative $709,078 $747,292 $38,214 5.1% Labor savings and underutilization of consultants and Staff training/Conferences Communications $105,437 $123,692 $18,255 14.8% Lower general expenses including marketing, memberships, and events Facilities | SG&A $125,175 $167,020 $41,845 25.1% Savings in general expenses from lower Contracts in: Grounds, Janitorial & HVAC Total $2,135,651 $2,411,269 $275,618 11.4% Business Unit Summary This section highlights how Housing Catalyst’s mission-driven operations are translating into financial outcomes across the organization. By examining year-to-date net income at the business unit level, we gain a meaningful view of how each area is stewarding resources while advancing our commitment to quality housing and supportive services. 26% 11% 19% 33% 5%6% Financial Services Talent Management Information Technology Administrative Communications Facilities | SG&A HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 5 of 19425 For the first two quarters of FY2025, the agency achieved a consolidated net income that exceeded budget by $557K. This reflects responsible cost management, intentional pacing of initiatives, and thoughtful prioritization across business units. While some business units continue to show planned shortfalls due to the nature of their service delivery, nearly all outperformed their budget targets—underscoring the organization’s capacity to deliver on its mission with fiscal care and operational resilience. These results provide a foundation for sustained impact as we continue aligning resources to strategic priorities and community need. The table below presents each business unit’s net income compared to budget, along with key drivers influencing year-to-date performance. Business Unit Net Operating Income (Loss) Actual Budget Variance $ Variance % Drivers Property Operations $415,875 $312,279 ($103,596) -33.2% Cost containment in admin, training, and cost center allocations; offset by revenue shortfall. Site Recapture ($27,789) ($63) $27,725 -43765.4% Unfavorable variance due to timing of labor recapture reconciliation. Will monitor and update billings if material. Maintenance $25,744 ($66,829) ($92,573) 138.5% NOI outperformance driven by labor savings, cost center savings and Vehicle savings. Rental Assistance $0 ($138,855) ($138,855) 100.0% Higher voucher management revenue and cost center allocation savings favorably impacting net income. Resident Services $20,691 ($307,467) ($328,158) 106.7% Delayed credits issued for mission driven support coupled with cost center allocation, labor, and other resident services savings. Development ($740,223) ($959,210) ($218,987) 22.8% Savings in cost center allocations, Acquisition/Deposition Fees and administrative expenses offset by lower interest income earned on cash balances. General Fund $219,397 $124,280 ($95,117) -76.5% Favorable variance from unbudgeted bond monitoring revenue and higher than anticipated interest income on cash balances. Total ($86,304) ($1,035,864) ($949,561) 91.7% CONSOLIDATED BALANCE SHEET Housing Catalyst’s financial position remains stable and mission-aligned, reflecting prudent management of resources and continued investment in long-term community impact. This fully consolidated balance sheet includes all components of the organization—voucher programs, the parent agency, Villages, Ltd., and real estate development— and mirrors the format used in our audited financial statements. We are maintaining strong liquidity, responsibly managing liabilities, and growing long-term assets through targeted development activity. A full balance sheet is included in the appendix; key year-to-date highlights are outlined below. HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 6 of 19426 K EY H IGHLIGHTS (YTD N ET C HANGE ) Category YTD Change Summary Insight Total Assets ↑ $4.2M Driven by $3.7M increase in cash from Sale of Villages, Ltd. properties partially offset by ($1M) reduction in Fixed Assets, $1.1M increase in receivables mostly attributed to Accrued Interest Receivable Cash Position ↑ $3.7M Stable unrestricted cash, strong liquidity across parent and Villages, Ltd. with increase attributed to proceeds offset by operational outlays Current Ratio ↑1.5 Strong ability to meet short-term obligations with increase over prior reporting period due to receipt of proceeds Total Liabilities ↔$12k Liabilities remain stable year-to-date, with modest reductions in payables and long-term debt balances offset by the timing and utilization of accrued expenses. Equity ↑ $4.2M Growth driven by current year income through proceeds on asset sales and reserve set asides C ASH & L IQUIDITY Total consolidated cash stands at $21.7M, including both restricted and unrestricted balances, providing solid operational flexibility and resilience. Notable cash positions include: • Parent Agency Cash: $5.6M – including $4.2M unrestricted, which supports day-to-day operations and strategic initiatives. • Villages, Ltd.: $13.1M – with adequate reserves and $11.7M in unrestricted funds ensuring adequate liquidity at the property level and ability for reinvestment in future needs. • Development Department: $3.0M – with $2.8M unrestricted which represents approximately 17 months of operating reserves, hitting our 12–18-month target. This ensures the department can remain stable despite the cyclical timing of developer fee collections. o Developer Fee and Reimbursement Pipeline (FY2025): ▪ Village on Eastbrook: $698k in WIP reimbursement ▪ Oak and Remington Parking Lot Redevelopment: $319k in WIP reimbursement ▪ Mason Parking Lot: $2k in WIP reimbursement ▪ Village on Impala: $535k in developer fees from 2nd Installment – expected Q3 ▪ Villages, Ltd.: $150k in Disposition fees $18,683,316 ; 86% $2,975,659 ; 14% CASH POSITION Unrestricted Restricted HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 7 of 19427 The current ratio has improved year-to-date, reinforcing our ability to meet short-term obligations. This healthy liquidity position supports uninterrupted service delivery, stable operations, and strategic adaptability. A SSET T RENDS Total assets increased by $4.2 million year-to-date, reflecting strategic repositioning and disciplined reinvestment. Key drivers include: • Proceeds from property sales within the Villages portfolio totaling approximately $4.4M. • Growth in long-term receivables, including soft debt and developer fee accruals. • Offset by regular operational depreciation of assets of $1.0M. While minor asset decreases occurred due to regular depreciation and the utilization of sales proceeds for project activity, the net position remains strong and strategically focused on long -term impact. L IABILITY T RENDS Total liabilities remained effectively flat, with a net increase of just $12,130 year-to-date. The balance reflects: • Continued paydown of long-term obligations through scheduled debt service. • Offsetting increases in accrued expenses and timing-related fluctuations in payables. This stable position demonstrates that new obligations are being closely managed in proportion to ongoing operational needs and capital strategy. E QUITY P OSITION Year-to-date, total equity increased by $4.2 million, reflecting consolidated net income primarily driven by asset sales and cost containment across business units. However, it is important to note that $7 million of the reported equity reflects a non-cash contributed capital entry related to Villages, Ltd.’s $1 acquisition of Village on Elizabeth and Village on Stanford. This accounting treatment overstates equity in interim reporting. To address this, elimination entries will be incorporated in FY2025 interim reports once finalized entries are received from auditors to better align ongoing financial reporting with the structure and intent of our audited statements. 11.9 2.7 11.7 9.1 9.8 9.5 10.4 11.0 0 2 4 6 8 10 12 14 FYE 2022 FYE 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Current Ratio Current Ratio Linear (Current Ratio) HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 8 of 19428 Voucher Programs Housing Catalyst administers a broad portfolio of federal vouchers that provide critical housing support to over 1,700 low-income households. These include traditional Housing Choice Vouchers, as well as specialized programs such as VASH, Family Unification, Foster Youth to Independence, Mainstream, and Emergency Housing vouchers. We also administer vouchers on behalf of Larimer County and the Colorado Division of Housing, extending our impact across the region. FINANCIAL OUTLOOK Year-to-date, the voucher program is performing within expectations, with Housing Assistance Payments (HAP) tracking slightly above internal budget projections. This variance is driven by strong local demand and rising per-unit costs in a high-rent market. While spending is elevated, it remains within HUD’s allowable funding thresholds, and we continue to monitor proration rates and disbursement guidance closely. Given the uncertainty around future federal appropriations, we are taking a prudent and conservative approach to voucher management. Although no immediate funding risks have been identified, we are maintaining close oversight to ensure the program can adapt quickly if funding conditions shift. • Total HAP Paid to Date: $10.7M • Agency Budget Utilization: 99.6% UTILIZATION STRATEGY Given the high rental costs in our region, full leasing utilization remains a challenge. Our strategy focuses instead on maximizing budget utilization, ensuring we deploy all available HUD funding to support as many households as possible. Our target remains >98% budget utilization, a threshold we consistently meet or exceed through careful monitoring of per-unit costs and monthly leasing activity. HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 9 of 19429 RESERVE MANAGEMENT Maintaining a modest reserve balance is a key part of Housing Catalyst’s strategy to safeguard voucher program continuity. As of the reporting period, combined reserves total $894,719, exclusive of amounts held by HUD. As of the end of the reporting period, Housing Catalyst’s reserve position is as follows: • HAP Reserves: $86,151 • Administrative Fee Reserves: $808,568 • Estimated HUD-Held Reserves: $619,748 These reserves provide a necessary financial buffer to respond to fluctuations in HUD funding or unexpected shifts in demand. While not substantial, they contribute to the program’s resilience and support uninterrupted assistance to households during periods of federal uncertainty. Real Estate Summary Housing Catalyst’s real estate holdings—comprising 1,195 total units—are foundational to our mission. While each of our three portfolios operates under its own compliance and ownership framework, we apply consistent internal monitoring across all properties. This section summarizes year-to-date financial performance, capital spending, and operational trends. Property-level details are included in the attached exhibits. LIHTC PORTFOLIO Unit Count: 834 Average Physical Occupancy: 95.9% Economic Occupancy: 84.9% YTD Capital Spending: $236k [26.2% of $899,730 annual budget] The LIHTC portfolio is performing generally in line with expectations. Strong occupancy and steady rental income continue to support portfolio revenue, though net operating income is slightly below budget due to elevated maintenance and utility costs, as well as the timing of internal mission-based support allocations. While three LIHTC properties are currently projected to fall short of their required DSCR, two of these are Permanent Supportive Housing (PSH) projects expected to stabilize following the issuance of Mission -Based Support credits. The remaining property, Oak 140, is within $1.5k of its target and is forecasted to meet or exceed compliance thresholds by the end of the year. Overall, the portfolio remains resilient, with targeted strategies in place to restore full DSCR compliance by year -end. W ATCH L IST Three LIHTC properties are currently forecasted to fall short of DSCR targets by year -end. As of this reporting period, the following properties are on the Watch List: Oak140: Debt service is forecasted at 1.15, missing the target by less than ($1.5k ), and is expected to be resolved by year-end. To close the gap, the team is focused on tightening expense controls. These efforts are expected to support recovery to the target DSCR and strengthen overall asset performance. Mason Place: The property is currently forecasted at a 1.05 DSCR, representing a ($18.8k) shortfall, below the 1.20 target, primarily due to higher reported costs for resident services, maintenance, and legal activity. As a HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 10 of 19430 Permanent Supportive Housing (PSH) project, Mason Place is scheduled to receive Mission -Based Support later in the year. In line with our customary approach, these credits are intentionally held until absolutely necessary. The current shortfall reflects that temporary delay in the issuance of up to $38.3k year-to-date. Once applied, the DSCR is expected to return to compliance. Operational indicators remain strong. Redtail Ponds: Redtail is currently forecasted at a 0.71 DSCR, representing a ($61.6k) shortfall, well below the 1.20 target, primarily due to a budget error in projecting gain-to-lease revenue, coupled with high turnover costs and delayed mission-based support credits. As a Permanent Supportive Housing (PSH) property, Redtail is expected to receive Mission-Based Support later in the year, consistent with Housing Catalyst’s standard practice of holding issuance of up to $80.3k year-to-date credits until confirmed necessary. Once credits are applied, the DSCR shortfall should be fully resolved. Close monitoring is underway to ensure proper alignment and maintain investor compliance. L EASE -U P P ROGRESS • Village on Impala: As of the reporting period 59 units are occupied with the remaining unit being pre-leased, achieving 100% occupancy. Stabilization testing is underway, with debt service coverage expected to be evaluated using a stabilization window of May-July financial results. The property is on track for financial benchmarking aligned with stabilization requirements. VILLAGES, LTD. PORTFOLIO Units: 299 Average Occupancy: 91.6% Economic Occupancy: 90.9% YTD Capital Spending: $134.4k [21.7% of $618,144 annual budget] The Villages, Ltd. portfolio is performing well above expectations through the reporting period, with net operating income (NOI) exceeding budget by $34.6K ; 11.6% and net income reaching $3.3M. This strong result is being driven by both solid operational performance and extraordinary one -time gains. The most significant driver is the $3.7M net gain from asset sales, which aligns with Housing Catalyst’s broade r strategic repositioning plan to optimize long-term financial sustainability. On the operations side, revenue streams are outperforming targets, particularly in other tenant income and interest income, which are tracking $31.9k; 80.0% and $33.6k; 21.0% above budget, respectively. These gains reflect both improved collections and favorable cash management. Expenses are largely in line with projections. Savings in administrative and maintenance categories are helping to absorb higher -than- anticipated legal, janitorial, and management costs. While depreciation and amortization expenses are elevated, these are non-cash accounting impacts tied to recent asset capitalizations and value adjustments. There are currently no properties in the Villages, Ltd. portfolio on the Watch List. Overall, the portfolio remains in a strong financial position with stable operations, positive momentum, and continued alignment with Housing Catalyst’s mission and long-term goals. W ATCH L IST • None HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 11 of 19431 WELLINGTON PORTFOLIO Units: 42 Average Occupancy: 91.1% Economic Occupancy: 98.4% YTD Capital Spending: $13,148 [41.8% of $31,460 annual budget] Wellington continues to outperform expectations with $161.2k NOI exceeding targets by $90.0k. Operational savings from renegotiated maintenance and internet contracts have helped offset utility increases. The portfolio is fully occupied and requires minimal intervention at this time. No properties in this portfolio are currently on the Watch List. Closing Statement In summary, Housing Catalyst’s financial performance for the year-to-date demonstrates resilience and prudent management across the agency and its portfolios. Key metrics, such as occupancy rates and budget utilization, indicate strong demand for our services and effective operational oversight. While certain properties are being closely monitored for DSCR and budget variances, strategic actions are in place to address these challenges. Looking forward, Housing Catalyst remains dedicated to its mission to create vibrant, sustainable communities throughout Northern Colorado. We continue to prioritize financial sustainability, operational efficiency, and strategic growth to meet the needs of those we serve. This report reflects our commitment to transparency and accountability as we work toward our long-term goals. HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 12 of 19432 EXHIBITS HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 13 of 19433 EXHIBIT: Balance Sheet | Summary Agency Development Vouchers Villages, Ltd.Consolidated ASSETS Current Assets: CASH Total Unrestricted Cash 3,029,753 2,797,187 1,131,547 11,724,829 18,683,316 Total Restricted Cash 1,049,881 152,602 367,210 1,405,966 2,975,659 TOTAL CASH 4,079,634 2,949,789 1,498,757 13,130,795 21,658,975 RECEIVABLES A/R - Tenants 45,041 0 10,480 46,016 101,537 A/R - Allowance for Doubtful Accounts-Tenants 0 0 0 51,938 51,938 A/R - Repayment Agreements 0 0 0 872 872 A/R - Other 312,628 411,335 8,525 3,784 736,272 Interco - Due To/From 498,665 -78,887 -181,834 -247,603 -9,659 Developer Fee Receivable - Current 0 35,489 0 0 35,489 A/R - HUD 60,205 0 7,658 0 67,863 Notes and Loans Receivable-Current 165,000 0 0 0 165,000 Accrued Interest Receivable 789,970 251,560 0 259,064 1,300,594 TOTAL RECEIVABLES 1,871,508 619,497 -155,171 114,072 2,449,906 OTHER CURRENT ASSSETS Escrow Deposits Paid 708 0 0 16,198 16,906 Insurance Claims - In Progress 0 0 0 128,081 128,081 Prepaid Expenses and Other Assets 103,071 4,724 0 11,571 119,366 Prepaid Postage 518 0 0 0 518 Prepaid Insurance 77,427 691 0 83,952 162,070 Inventories-Materials 110,287 0 0 0 110,287 TOTAL OTHER CURRENT ASSETS 292,011 5,415 0 239,802 537,228 Total Current Assets 6,243,153 3,574,701 1,343,586 13,484,670 24,646,110 Non-Current Assets: FIXED ASSETS Total Book Value 2,718,306 2,196,271 0 37,287,365 42,201,942 Total Accumulated Depreciation -1,316,590 0 0 -17,299,417 -18,616,007 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 14 of 19434 EXHIBIT: Balance Sheet | Summary Agency Development Vouchers Villages, Ltd.Consolidated TOTAL FIXED ASSETS (NET)1,401,717 2,196,271 0 19,987,948 23,585,936 IN PROGRESS WIP 0 698,147 0 9,182 707,329 CAPEX in Progress 3,324 0 0 149,277 152,601 TOTAL IN PROGRESS 3,324 698,147 0 158,459 859,930 TOTAL INTANGIBLE (Net)0 0 0 0 0 TOTAL NOTES RECEIVABLE TOTAL OTHER ASSETS 1,389,325 7,893,531 0 0 9,282,856 TOTAL INVESTMENTS 146,538 151,510 0 0 298,048 Total Non-Current Assets 46,796,178 32,572,973 0 35,967,359 115,336,510 TOTAL ASSETS 53,039,331 36,147,674 1,343,586 49,452,029 139,982,620 LIABILITIES & EQUITY LIABILITIES: Total Current Liabilities 1,674,736 108,543 35,802 429,573 2,248,654 Non-Current Liabilities: Family Self Sufficiency Escrow Liability 0 0 367,210 0 367,210 Debt Payable - L/T Portion N/P Villages - Other Soft Loans 99,750 0 0 785,982 885,732 N/P - City of FC - CDBG/HOME/AHF 0 0 0 450,000 450,000 N/P - 1st Bank 203,640 0 0 1,662,971 1,866,611 N/P - CHFA 0 0 0 829,387 829,387 N/P - ANB 369,457 0 0 0 369,457 B/P - Oak 140 Revenue Bond 7,940,000 0 0 0 7,940,000 N/P - CHFA - TCAP 0 0 0 989,065 989,065 Bond Premium 14,092 0 0 0 14,092 Debt Issuance Costs 0 0 0 -12,521 -12,521 Total Debt Payable - L/T Portion 8,626,939 0 0 9,831,432 18,458,371 Leases Payable 89,135 0 0 0 89,135 Total Non-Current Liabilities 8,716,073 0 367,210 9,831,432 18,914,715 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 15 of 19435 EXHIBIT: Balance Sheet | Summary Agency Development Vouchers Villages, Ltd.Consolidated TOTAL LIABILITIES 10,390,809 108,543 403,012 10,261,005 21,163,369 EQUITY Total Contributed Capital 151,100 500 0 7,498,889 7,650,489 Total Reserved Fund Balance 0 1,270,500 0 6,061,116 7,331,616 Total Retained Earnings:42,497,421 34,768,131 940,574 25,631,019 103,837,145 TOTAL EQUITY 42,648,521 36,039,131 940,574 39,191,024 118,819,250 TOTAL LIABILITIES AND EQUITY 53,039,331 36,147,674 1,343,586 49,452,029 139,982,620 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 16 of 19436 EXHIBIT: Balance Sheet|Consolidated Balance Beginning Net Current Period Balance Change ASSETS Current Assets: CASH Unrestricted Cash Cash - Revolving -71,388 -233,409 162,021 Cash - Operating - Admin 723,162 469,985 253,177 Cash - Operating - RS Clinical 12,780 10,949 1,832 Cash - Liquid Asset Account 13,886,706 10,732,833 3,153,873 Cash - Operating - CCA 80,000 80,000 0 Cash - Operating - Admin ANB 12,695 964 11,731 Cash - Operating - HAP 48,834 47,626 1,208 Cash - Operating - Sweep 3,989,577 3,795,505 194,072 Cash - Petty Cash 950 950 0 Total Unrestricted Cash 18,683,316 14,905,402 3,777,914 Restricted Cash Cash - Restricted - Security Deposits 133,361 143,175 -9,814 Cash - Restricted - Family Self Sufficiency Escrow 367,210 370,643 -3,434 Cash - Restricted - Family Self Sufficiency Forfeiture 27,948 20,691 7,257 Cash - Restricted - Flex - 1st Bank 3,848 2,399 1,449 Cash - Restricted - Proceeds 151,602 148,935 2,667 Cash - Restricted - Reserve for Replacement 841,265 902,903 -61,638 Cash - Restricted - Operating Reserve 167,241 164,299 2,943 Cash - Restricted - CHFA - Op Res 7,375 7,351 23 Cash - Restricted - CHFA - Repl Res 261,269 249,576 11,694 Cash - Restricted - URA Escrow 1,000 1,000 0 Cash - Restricted - Voucher Program Enhancement Fund 1,013,540 1,013,039 501 Total Restricted Cash 2,975,659 3,024,010 -48,351 TOTAL CASH 21,658,975 17,929,413 3,729,563 Housing Catalyst & Villages Ltd. (.hc-vill) Balance Sheet (With Period Change) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_bs HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 17 of 19437 EXHIBIT: Balance Sheet|Consolidated Balance Beginning Net Current Period Balance Change Housing Catalyst & Villages Ltd. (.hc-vill) Balance Sheet (With Period Change) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_bs RECEIVABLES A/R - Tenants 101,537 80,316 21,221 A/R - Allowance for Doubtful Accounts-Tenants 51,938 0 51,938 A/R - Repayment Agreements 872 5,367 -4,495 A/R - Other 736,272 352,920 383,352 Interco - Due To/From -9,659 -2,213 -7,446 Developer Fee Receivable - Current 35,489 240,559 -205,070 A/R - HUD 67,863 58,516 9,347 Notes and Loans Receivable-Current 165,000 276,620 -111,620 Accrued Interest Receivable 1,300,594 339,603 960,991 TOTAL RECEIVABLES 2,449,906 1,351,687 1,098,219 OTHER CURRENT ASSSETS Escrow Deposits Paid 16,906 30,669 -13,763 Insurance Claims - In Progress 128,081 113,146 14,935 Prepaid Expenses and Other Assets 119,366 90,937 28,429 Prepaid Postage 518 708 -189 Prepaid Insurance 162,070 0 162,070 Inventories-Materials 110,287 97,432 12,855 TOTAL OTHER CURRENT ASSETS 537,228 332,892 204,336 Total Current Assets 24,646,110 19,613,992 5,032,118 Non-Current Assets: FIXED ASSETS Book Value Land 6,772,077 6,959,577 -187,500 Buildings 32,230,559 32,901,363 -670,804 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 18 of 19438 EXHIBIT: Balance Sheet|Consolidated Balance Beginning Net Current Period Balance Change Housing Catalyst & Villages Ltd. (.hc-vill) Balance Sheet (With Period Change) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_bs Furniture,Fixtures,Equipment - Units 1,345,769 1,350,850 -5,081 Furniture,Fixtures,Equipment - Common 495,092 495,092 0 Leasehold Improvements 611,908 611,908 0 Site Improvements 746,538 746,538 0 Total Book Value 42,201,942 43,065,327 -863,385 Accumulated Depreciation Accum Depreciation-Buildings -16,897,257 -16,862,340 -34,917 Accum Depreciation-Furn,Fix & Equip - Units -871,396 -801,421 -69,976 Accum Depreciation-Furn,Fix & Equip - Common -339,845 -323,322 -16,524 Accum Depreciation-Improvements -507,508 -461,993 -45,515 Total Accumulated Depreciation -18,616,007 -18,449,076 -166,931 TOTAL FIXED ASSETS (NET)23,585,936 24,616,252 -1,030,316 IN PROGRESS WIP 707,329 630,106 77,223 CAPEX in Progress 152,601 14,855 137,746 TOTAL IN PROGRESS 859,930 644,961 214,968 INTANGIBLE ASSETS Tax Credit Fees 60,449 60,449 0 Amortization-Tax Credit Fees -60,449 -60,449 0 TOTAL INTANGIBLE (Net)0 0 0 NOTES RECEIVABLE N/R - Miscellaneous 20,710 20,710 0 N/R - Village on Elizabeth, LLLP 3,788,281 3,788,281 0 N/R - Village on Stanford, LLLP 2,124,249 2,124,249 0 N/R - Legacy 717,164 717,164 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 19 of 19439 EXHIBIT: Balance Sheet|Consolidated Balance Beginning Net Current Period Balance Change Housing Catalyst & Villages Ltd. (.hc-vill) Balance Sheet (With Period Change) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_bs N/R - Redtail Ponds, LLLP 2,961,060 2,961,060 0 N/R - Village on Plum, LLLP 4,220,172 4,220,172 0 N/R - Village on Plum, LLLP - CDBG 1,283,332 1,283,332 0 N/R - Village on Redwood, LLLP 6,555,775 6,555,775 0 N/R - Village on Horsetooth, LLLP 5,271,192 5,271,192 0 N/R - Village on Shields, LLLP 23,258,698 23,258,698 0 N/R - Mason Place 3,816,616 3,816,616 0 N/R - Oak 140 13,950,721 13,950,721 0 N/R - Fort Collins DDA 116,137 116,137 0 N/R - Village on Impala, LLLP 13,125,885 13,125,885 0 N/R - Mason Parking Lot 99,750 99,750 0 TOTAL NOTES RECEIVABLE 81,309,741 81,309,741 0 OTHER ASSETS Developer Fee Receivable - L/T 7,893,531 7,893,531 0 Leased Assets 103,775 116,307 -12,532 Prepaid Lease - Long Term 1,285,551 1,285,551 0 TOTAL OTHER ASSETS 9,282,856 9,295,388 -12,532 INVESTMENTS Investment - Village on Elizabeth -216 -216 0 Investment - Village on Stanford -226 -226 0 Investment - Mason Place 67 67 0 Investment - Village on Plum 199,841 199,841 0 Investment - Village on Shields -1,086 -1,086 0 Investment - Housing Catalyst 100 100 0 Investment - Redtail Ponds 99,778 99,778 0 Investment - Village on Redwood -247 -247 0 Investment - Village on Horsetooth -238 -238 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 20 of 19440 EXHIBIT: Balance Sheet|Consolidated Balance Beginning Net Current Period Balance Change Housing Catalyst & Villages Ltd. (.hc-vill) Balance Sheet (With Period Change) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_bs Investment - Swallow Road 10 10 0 Investment - Oak 140 79 79 0 Investment - Village on Impala LLLP 186 186 0 TOTAL INVESTMENTS 298,048 298,048 0 Total Non-Current Assets 115,336,510 116,164,390 -827,880 TOTAL ASSETS 139,982,620 135,778,382 4,204,238 LIABILITIES & EQUITY LIABILITIES: Current Liabilities: A/P - Vendors 84,664 256,702 -172,038 Tenant Security Deposits 125,196 134,416 -9,220 Pet Deposit 8,120 8,720 -600 A/P - HUD 10,700 10,700 0 A/P - United Way 68 0 68 A/P - Retirement Contributions 0 -33 33 A/P - Other 192,129 39,013 153,116 A/P - Retention Payables 304 304 0 Accrued Interest Payable 243,217 36,559 206,658 Accrued Payroll & Payroll Taxes 821,108 821,108 0 Flex Fund Liability 4,608 2,809 1,799 Accrued Liabilities-Other 16,489 25,453 -8,965 Accrued PILOT 26,564 26,564 0 Tenant Prepaid Rents 19,200 23,802 -4,602 Deferred Revenue 63,774 54,804 8,970 Health Insurance Deductible Fund 10,128 0 10,128 Current Portion of Long Term Debt 602,596 602,596 0 Current Portion of Leases Payable 19,791 19,791 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 21 of 19441 EXHIBIT: Balance Sheet|Consolidated Balance Beginning Net Current Period Balance Change Housing Catalyst & Villages Ltd. (.hc-vill) Balance Sheet (With Period Change) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_bs Total Current Liabilities 2,248,654 2,063,308 185,346 Non-Current Liabilities: Family Self Sufficiency Escrow Liability 367,210 370,643 -3,434 Debt Payable - L/T Portion N/P Villages - Other Soft Loans 885,732 885,732 0 N/P HC - CDBG/HOME/AHF 2,635,508 2,635,508 0 N/P HC - Other Soft Loans 2,491,041 2,491,041 0 N/P - City of FC - CDBG/HOME/AHF 450,000 450,000 0 N/P - 1st Bank 1,866,611 1,908,766 -42,154 N/P - CHFA 829,387 841,875 -12,488 N/P - ANB 369,457 476,503 -107,046 B/P - Oak 140 Revenue Bond 7,940,000 7,940,000 0 N/P - CHFA - TCAP 989,065 989,065 0 Bond Premium 14,092 14,595 -503 Debt Issuance Costs -12,521 -14,825 2,305 Total Debt Payable - L/T Portion 18,458,371 18,618,258 -159,887 Leases Payable 89,135 99,031 -9,896 Total Non-Current Liabilities 18,914,715 19,087,932 -173,217 TOTAL LIABILITIES 21,163,369 21,151,240 12,130 EQUITY Contributed Capital: Contributed Capital 151,600 151,600 0 Limited Partner Contribution 7,534,619 7,534,619 0 General Partner Contribution 200 200 0 Syndication Costs -35,930 -35,930 0 Total Contributed Capital 7,650,489 7,650,489 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 22 of 19442 EXHIBIT: Balance Sheet|Consolidated Balance Beginning Net Current Period Balance Change Housing Catalyst & Villages Ltd. (.hc-vill) Balance Sheet (With Period Change) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_bs Reserved Fund Balance: Reserved for Capital Activities 6,674,256 6,674,256 0 Reserved for Replacements 657,360 608,809 48,551 Total Reserved Fund Balance 7,331,616 7,283,065 48,551 Retained Earnings: Invested in Capital Assets-Net of Debt 2,678,630 2,678,630 0 Current Year Income 10,897,804 6,754,247 4,143,557 Unrestricted Net Assets 99,355,155 99,355,155 0 Net Restricted Assets - HUD 65,211 65,211 0 Prior Income (Loss)-9,159,655 -9,159,655 0 Total Retained Earnings:103,837,145 99,693,588 4,143,557 TOTAL EQUITY 118,819,250 114,627,142 4,192,108 TOTAL LIABILITIES AND EQUITY 139,982,620 135,778,382 4,204,238 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 23 of 19443 EXHIBIT: Budget Comparison|HC Parent PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME CAM Estimate 5,316.42 6,462.48 -1,146.06 -17.73 4,359.60 956.82 21.95 5,316.42 -1,146.06 -17.73 4,359.60 956.82 21.95 12,924.96 NET POTENTIAL RENT 5,316 6,462 -1,146 -18 4,360 957 22 5,316 -1,146 -18 4,360 957 22 12,925 NET POTENTIAL RENT ADJUSTMENTS Storage Rent 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 NET RENTAL INCOME 5,316 8,262 -2,946 -36 4,360 957 22 5,316 -2,946 -36 4,360 957 22 16,525 EFFECTIVE GROSS INCOME 5,316 8,262 -2,946 -36 4,360 957 22 5,316 -2,946 -36 4,360 957 22 16,525 GRANT REVENUE Grants - Family Self Sufficiency 122,213 127,434 -5,221 -4 117,217 4,996 4 122,213 -5,221 -4 117,217 4,996 4 254,868 Grants - HUD CoC 280,675 243,432 37,243 15 244,956 35,719 15 280,675 37,243 15 244,956 35,719 15 486,864 Grants - Non Gov't 0 6,666 -6,666 -100 4,522 -4,522 -100 0 -6,666 -100 4,522 -4,522 -100 19,999 TOTAL GRANT REVENUE 402,888 377,532 25,356 7 366,695 36,193 10 402,888 25,356 7 366,695 36,193 10 761,731 AGENCY REVENUE Property Management Fee Revenue 685,845 693,831 -7,986 -1 624,802 61,044 10 685,845 -7,986 -1 624,802 61,044 10 1,387,663 Accounting Fee Revenue 474,048 483,138 -9,089 -2 435,187 38,861 9 474,048 -9,089 -2 435,187 38,861 9 966,275 Asset Management Revenue 167,621 125,000 42,621 34 0 167,621 N/A 167,621 42,621 34 0 167,621 N/A 250,000 Site Labor Cost Recapture 825,869 831,877 -6,008 -1 861,793 -35,924 -4 825,869 -6,008 -1 861,793 -35,924 -4 1,663,753 85,866 86,738 -872 -1 90,909 -5,043 -6 85,866 -872 -1 90,909 -5,043 -6 173,477 9,801 8,600 1,201 14 0 9,801 N/A 9,801 1,201 14 0 9,801 N/A 17,200 Administrative OH Cost Recapture 93,237 78,750 14,487 18 0 93,237 N/A 93,237 14,487 18 0 93,237 N/A 157,500 Board Administration Fee Revenue 36,500 36,500 0 0 31,500 5,000 16 36,500 0 0 31,500 5,000 16 73,000 Voucher Management Fees Earned 892,740 805,498 87,243 11 864,242 28,498 3 892,740 87,243 11 864,242 28,498 3 1,610,995 75,142 67,799 7,343 11 0 75,142 N/A 75,142 7,343 11 0 75,142 N/A 135,597 Resident Services Fee Income 632,352 653,473 -21,121 -3 701,063 -68,711 -10 632,352 -21,121 -3 701,063 -68,711 -10 1,306,946 Credits: Mission-Driven Support -58,500 -177,112 118,612 67 -172,332 113,832 66 -58,500 118,612 67 -172,332 113,832 66 -354,224 HC Parent (No Vouchers - Includes Development) (.hcparnt) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 24 of 19444 EXHIBIT: Budget Comparison|HC Parent PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Parent (No Vouchers - Includes Development) (.hcparnt) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Compliance Services Revenue 58,260 58,846 -586 -1 130,545 -72,285 -55 58,260 -586 -1 130,545 -72,285 -55 117,691 Developer Fee Earned or Collected 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 1,200,125 Acquisition and Disposition Fees 150,000 0 150,000 N/A 0 150,000 N/A 150,000 150,000 N/A 0 150,000 N/A 250,000 Work Order Revenue 352,505 325,234 27,271 8 502,830 -150,325 -30 352,505 27,271 8 502,830 -150,325 -30 650,467 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 25 of 19445 EXHIBIT: Budget Comparison|HC Parent PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Parent (No Vouchers - Includes Development) (.hcparnt) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Maintenance - Preventative Contracts 144,813 143,200 1,613 1 270,040 -125,227 -46 144,813 1,613 1 270,040 -125,227 -46 286,400 Maint Project Mgmt Revenue 69,384 97,166 -27,781 -29 13,970 55,414 397 69,384 -27,781 -29 13,970 55,414 397 194,331 17,100 33,431 -16,331 -49 0 17,100 N/A 17,100 -16,331 -49 0 17,100 N/A 66,861 Unit Turn Revenue 114,750 89,760 24,990 28 0 114,750 N/A 114,750 24,990 28 0 114,750 N/A 179,520 Capital Asset Management Revenue 0 38,140 -38,140 -100 0 0 N/A 0 -38,140 -100 0 0 N/A 76,280 RS Clinical Billing Revenue 1,831 900 931 103 482 1,349 280 1,831 931 103 482 1,349 280 1,800 TOTAL AGENCY REVENUE 4,829,163 4,480,767 348,397 8 4,355,030 474,133 11 4,829,163 348,397 8 4,355,030 474,133 11 10,411,658 OTHER INCOME Miscellaneous Income 41,826 0 41,826 N/A 23,310 18,516 79 41,826 41,826 N/A 23,310 18,516 79 52,797 Bond Issuance Fees 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 138,750 Bond Monitoring Fees 13,200 0 13,200 N/A 0 13,200 N/A 13,200 13,200 N/A 0 13,200 N/A 0 Special Limited Partner Fees 0 0 0 N/A 250,000 -250,000 -100 0 0 N/A 250,000 -250,000 -100 0 Interest Income - Unrestricted 101,285 105,054 -3,769 -4 245,818 -144,532 -59 101,285 -3,769 -4 245,818 -144,532 -59 210,084 TOTAL OTHER INCOME 156,311 105,054 51,257 49 519,128 -362,816 -70 156,311 51,257 49 519,128 -362,816 -70 401,631 TOTAL OPERATING REVENUE 5,393,679 4,971,615 422,064 8 5,245,212 148,466 3 5,393,679 422,064 8 5,245,212 148,466 3 11,591,544 OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: FIN 0 0 0 100 0 0 N/A 0 0 100 0 0 N/A 0 Intra-Co Alloc: TM 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 0 Intra-Co Alloc: IT 0 0 0 -100 0 0 N/A 0 0 -100 0 0 N/A 0 Intra-Co Alloc: IOH 0 0 0 -100 0 0 N/A 0 0 -100 0 0 N/A 0 Intra-Co Alloc: SGA 0 0 0 -100 0 0 N/A 0 0 -100 0 0 N/A 0 Intra-Co Billings 0 -1 -1 -100 0 0 N/A 0 -1 -100 0 0 N/A -1 Intra-Segment Alloc: RS Admin 0 0 0 -100 0 0 N/A 0 0 -100 0 0 N/A 0 TOTAL INTRA-Co ALLOCATIONS 0 -1 -1 -100 0 0 N/A 0 -1 -100 0 0 N/A -1 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 3,825,549 3,990,046 164,497 4 3,769,613 -55,937 -1 3,825,549 164,497 4 3,769,613 -55,937 -1 7,983,748 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 26 of 19446 EXHIBIT: Budget Comparison|HC Parent PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Parent (No Vouchers - Includes Development) (.hcparnt) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Medical Insurance 252,003 302,120 50,117 17 241,336 -10,666 -4 252,003 50,117 17 241,336 -10,666 -4 604,240 38,853 39,918 1,065 3 37,637 -1,217 -3 38,853 1,065 3 37,637 -1,217 -3 79,836 EAP Program 0 7,792 7,792 100 6,478 6,478 100 0 7,792 100 6,478 6,478 100 15,584 MERP Program Reimbursements 33,931 33,931 0 0 7,501 -26,430 -352 33,931 0 0 7,501 -26,430 -352 67,862 Workers Comp 47,220 39,919 -7,301 -18 47,056 -164 0 47,220 -7,301 -18 47,056 -164 0 79,838 ER Retirement Contributions 372,818 399,187 26,369 7 366,970 -5,848 -2 372,818 26,369 7 366,970 -5,848 -2 798,374 ER Payroll Taxes 66,049 61,075 -4,973 -8 63,738 -2,311 -4 66,049 -4,973 -8 63,738 -2,311 -4 122,151 ER FAMLI 17,352 35,928 18,576 52 13,776 -3,575 -26 17,352 18,576 52 13,776 -3,575 -26 71,856 Total Benefits Expenses 828,226 919,870 91,645 10 784,492 -43,734 -6 828,226 91,645 10 784,492 -43,734 -6 1,839,741 Total Labor Expenses 4,653,775 4,909,916 256,141 5 4,554,105 -99,670 -2 4,653,775 256,141 5 4,554,105 -99,670 -2 9,823,489 Legal Expense 647 670 23 3 476 -171 -36 647 23 3 476 -171 -36 1,261 Legal-Tenant Screening 0 15 15 100 0 0 N/A 0 15 100 0 0 N/A 46 Legal-General Expense 8,818 6,970 -1,847 -27 6,253 -2,565 -41 8,818 -1,847 -27 6,253 -2,565 -41 15,762 Total Legal Expense 9,464 7,655 -1,809 -24 6,728 -2,736 -41 9,464 -1,809 -24 6,728 -2,736 -41 17,069 Other Administrative Expenses Staff Training & Conferences 21,503 92,214 70,712 77 97,491 75,988 78 21,503 70,712 77 97,491 75,988 78 190,677 Companywide Training 28,952 45,000 16,048 36 1,128 -27,824 -2,468 28,952 16,048 36 1,128 -27,824 -2,468 90,000 Education Assistance 0 15,000 15,000 100 2,250 2,250 100 0 15,000 100 2,250 2,250 100 30,000 Travel, Lodging & Per Diems 18,098 23,390 5,293 23 4,434 -13,663 -308 18,098 5,293 23 4,434 -13,663 -308 49,802 Mileage 2,368 6,456 4,088 63 4,591 2,223 48 2,368 4,088 63 4,591 2,223 48 15,094 Meals - Business Partners 5,070 0 -5,070 N/A 0 -5,070 N/A 5,070 -5,070 N/A 0 -5,070 N/A 0 Payroll Processing Fees 11,116 11,278 162 1 11,129 14 0 11,116 162 1 11,129 14 0 20,209 Rating Agency Expenses 6,000 5,750 -250 -4 6,000 0 0 6,000 -250 -4 6,000 0 0 11,500 Auditing & Tax Services 3,961 3,804 -157 -4 10,874 6,913 64 3,961 -157 -4 10,874 6,913 64 7,608 Marketing 446 8,825 8,379 95 3,872 3,427 88 446 8,379 95 3,872 3,427 88 15,134 Resident Relocation 0 0 0 N/A 200 200 100 0 0 N/A 200 200 100 0 Parking Fees 492 1,200 708 59 440 -52 -12 492 708 59 440 -52 -12 2,400 Consultants 30,213 72,250 42,037 58 41,878 11,665 28 30,213 42,037 58 41,878 11,665 28 144,500 Security Services 192 0 -192 N/A 312 120 38 192 -192 N/A 312 120 38 0 Advertising 0 75 75 100 0 0 N/A 0 75 100 0 0 N/A 150 Sponsorships 0 0 0 N/A 2,500 2,500 100 0 0 N/A 2,500 2,500 100 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 27 of 19447 EXHIBIT: Budget Comparison|HC Parent PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Parent (No Vouchers - Includes Development) (.hcparnt) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Employee Wellness 2,930 7,500 4,570 61 788 -2,143 -272 2,930 4,570 61 788 -2,143 -272 15,000 Recruiting 30,850 12,750 -18,100 -142 9,406 -21,444 -228 30,850 -18,100 -142 9,406 -21,444 -228 25,500 Miscellaneous Admin Expenses 22,230 22,687 457 2 36,889 14,659 40 22,230 457 2 36,889 14,659 40 24,775 Total Other Administrative Expenses 184,420 328,179 143,759 44 234,181 49,762 21 184,420 143,759 44 234,181 49,762 21 642,348 Technology Expenses Managed Services - City 91,599 88,425 -3,174 -4 84,608 -6,992 -8 91,599 -3,174 -4 84,608 -6,992 -8 176,851 Managed Services - Consultants 20,905 14,000 -6,905 -49 20,852 -53 0 20,905 -6,905 -49 20,852 -53 0 28,000 Software License Fees 157,104 155,257 -1,847 -1 141,550 -15,555 -11 157,104 -1,847 -1 141,550 -15,555 -11 306,816 Software Support Agreements 0 6,000 6,000 100 0 0 N/A 0 6,000 100 0 0 N/A 12,000 Software Implementations 0 35,000 35,000 100 0 0 N/A 0 35,000 100 0 0 N/A 35,000 Computers and Peripherals 22,091 34,843 12,751 37 9,706 -12,385 -128 22,091 12,751 37 9,706 -12,385 -128 69,685 Network Hardware 5,386 13,067 7,682 59 0 -5,386 N/A 5,386 7,682 59 0 -5,386 N/A 26,135 Cable Services 180 0 -180 N/A 211 31 15 180 -180 N/A 211 31 15 0 Telephone - Landline|Virtual 19,980 21,810 1,830 8 19,901 -79 0 19,980 1,830 8 19,901 -79 0 43,620 Internet Services 1,589 0 -1,589 N/A 1,529 -60 -4 1,589 -1,589 N/A 1,529 -60 -4 0 Cellular - Phones | Tablets 32,220 35,786 3,567 10 37,582 5,362 14 32,220 3,567 10 37,582 5,362 14 71,423 Web Hosting and Other 0 1,030 1,030 100 0 0 N/A 0 1,030 100 0 0 N/A 2,060 Total Technology Expenses 351,054 405,219 54,165 13 315,937 -35,117 -11 351,054 54,165 13 315,937 -35,117 -11 771,589 Compliance Expenses Compliance Services - Internal 0 49 49 100 0 0 N/A 0 49 100 0 0 N/A 98 Compliance Services - Consultants 38 0 -38 N/A 5,249 5,212 99 38 -38 N/A 5,249 5,212 99 0 Total Compliance Expenses 38 49 11 23 5,249 5,212 99 38 11 23 5,249 5,212 99 98 TOTAL ADMINISTRATIVE EXPENSES 5,198,750 5,651,019 452,268 8 5,116,201 -82,549 -2 5,198,750 452,268 8 5,116,201 -82,549 -2 11,254,594 GENERAL EXPENSES Resident Services Resident Programming 1,428 16,377 14,949 91 5,262 3,834 73 1,428 14,949 91 5,262 3,834 73 31,750 RS Client Assistance 1,550 3,804 2,254 59 5,174 3,624 70 1,550 2,254 59 5,174 3,624 70 7,600 Resident Services - External 25,233 22,376 -2,857 -13 79,899 54,665 68 25,233 -2,857 -13 79,899 54,665 68 44,752 Total Resident Services 28,211 42,557 14,346 34 90,335 62,124 69 28,211 14,346 34 90,335 62,124 69 84,102 Utilities Expense Water 2,868 4,825 1,956 41 3,767 899 24 2,868 1,956 41 3,767 899 24 9,217 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 28 of 19448 EXHIBIT: Budget Comparison|HC Parent PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Parent (No Vouchers - Includes Development) (.hcparnt) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Electricity 7,043 7,570 527 7 6,807 -236 -3 7,043 527 7 6,807 -236 -3 15,219 Gas 2,622 3,491 869 25 2,774 151 5 2,622 869 25 2,774 151 5 6,317 Trash Removal Services 3,811 3,938 127 3 3,949 137 3 3,811 127 3 3,949 137 3 7,877 Total Utility Expenses 16,345 19,824 3,479 18 17,297 952 6 16,345 3,479 18 17,297 952 6 38,630 Maintenance Expenses Maintenance - On Call 6,773 250 -6,523 -2,609 8,855 2,082 24 6,773 -6,523 -2,609 8,855 2,082 24 500 Maintenance - Uniforms 3,227 2,600 -627 -24 4,086 859 21 3,227 -627 -24 4,086 859 21 5,200 Tools and Equipment 0 550 550 100 659 659 100 0 550 100 659 659 100 550 Equipment Rentals 2,475 2,130 -345 -16 2,972 497 17 2,475 -345 -16 2,972 497 17 3,545 Total General Maint Expense 12,475 5,530 -6,945 -126 16,572 4,097 25 12,475 -6,945 -126 16,572 4,097 25 9,794 Supplies-Grounds 67 699 631 90 835 768 92 67 631 90 835 768 92 1,397 Supplies-Appliances 0 0 0 N/A 90 90 100 0 0 N/A 90 90 100 0 Supplies-Electrical 80 0 -80 N/A 37 -43 -115 80 -80 N/A 37 -43 -115 0 Supplies-Pest Control 46 0 -46 N/A 3 -43 -1,233 46 -46 N/A 3 -43 -1,233 0 Supplies-Janitorial 693 187 -506 -270 960 267 28 693 -506 -270 960 267 28 375 Supplies-General 2,602 4,729 2,127 45 4,481 1,880 42 2,602 2,127 45 4,481 1,880 42 9,459 Supplies-Plumbing 0 12 12 100 50 50 100 0 12 100 50 50 100 23 Supplies-HVAC 96 627 531 85 9 -87 -993 96 531 85 9 -87 -993 1,255 Supplies-Doors 0 118 118 100 287 287 100 0 118 100 287 287 100 235 Total Supplies | Materials 3,585 6,372 2,787 44 6,752 3,167 47 3,585 2,787 44 6,752 3,167 47 12,744 Contract-Work Orders - Internal 3,270 5,377 2,107 39 5,675 2,405 42 3,270 2,107 39 5,675 2,405 42 10,754 Contract-Preventative - Internal 5,501 2,050 -3,451 -168 3,665 -1,837 -50 5,501 -3,451 -168 3,665 -1,837 -50 4,100 Contract-Painting 0 3,500 3,500 100 3,849 3,849 100 0 3,500 100 3,849 3,849 100 3,500 Contract-System Services 2,740 2,669 -70 -3 1,905 -835 -44 2,740 -70 -3 1,905 -835 -44 5,142 Contract-Carpet Cleaning 0 500 500 100 749 749 100 0 500 100 749 749 100 1,000 Contract-Electrical 95 0 -95 N/A 470 375 80 95 -95 N/A 470 375 80 0 Contract-Pest Control 256 0 -256 N/A 0 -256 N/A 256 -256 N/A 0 -256 N/A 0 Contract-Grounds 17,727 23,402 5,675 24 13,640 -4,087 -30 17,727 5,675 24 13,640 -4,087 -30 45,639 Contract-Janitorial 10,743 14,844 4,101 28 10,754 11 0 10,743 4,101 28 10,754 11 0 28,911 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 29 of 19449 EXHIBIT: Budget Comparison|HC Parent PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Parent (No Vouchers - Includes Development) (.hcparnt) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Contract-Plumbing 342 292 -49 -17 555 213 38 342 -49 -17 555 213 38 1,180 Contract-HVAC 653 6,697 6,044 90 6,828 6,175 90 653 6,044 90 6,828 6,175 90 13,394 Contract-Alarms 469 459 -9 -2 456 -13 -3 469 -9 -2 456 -13 -3 901 Contract-General 213 2,043 1,830 90 1,283 1,070 83 213 1,830 90 1,283 1,070 83 4,087 Total Contract Costs 42,009 61,834 19,826 32 49,827 7,818 16 42,009 19,826 32 49,827 7,818 16 118,607 Total Maintenance Expenses - Core 58,068 73,736 15,668 21 73,151 15,083 21 58,068 15,668 21 73,151 15,083 21 141,145 Total Maintenance Expenses 58,068 73,736 15,668 21 73,151 15,083 21 58,068 15,668 21 73,151 15,083 21 141,145 DNU-Facility Costs DNU-Total Facility Costs 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 0 Vehicle-Fuel 7,873 9,581 1,708 18 8,776 902 10 7,873 1,708 18 8,776 902 10 19,851 Vehicle-Repairs 3,104 4,821 1,717 36 7,693 4,589 60 3,104 1,717 36 7,693 4,589 60 12,109 Vehicle-Fixed Fee Maintenance 0 5,569 5,569 100 29 29 100 0 5,569 100 29 29 100 6,331 Vehicle-Lease 398 8,863 8,466 96 4,341 3,943 91 398 8,466 96 4,341 3,943 91 9,847 Total Vehicle Expenses 11,374 28,834 17,460 61 20,838 9,464 45 11,374 17,460 61 20,838 9,464 45 48,139 Insurance & Taxes Expenses Insurance - Property 11,598 14,954 3,355 22 60,365 48,766 81 11,598 3,355 22 60,365 48,766 81 29,907 Insurance - Liability 2,031 6,788 4,757 70 0 -2,031 N/A 2,031 4,757 70 0 -2,031 N/A 13,576 Insurance - Umbrella 0 330 330 100 0 0 N/A 0 330 100 0 0 N/A 660 Insurance - D&O | E&O 15,054 16,844 1,790 11 0 -15,054 N/A 15,054 1,790 11 0 -15,054 N/A 33,687 Insurance - Auto 11,753 15,699 3,946 25 12,207 454 4 11,753 3,946 25 12,207 454 4 31,398 Insurance - Specialty | Other 28,852 33,075 4,223 13 0 -28,852 N/A 28,852 4,223 13 0 -28,852 N/A 66,150 Misc. Taxes & Licenses 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 250 Total Tax & Insurance Expenses 69,288 87,689 18,401 21 72,571 3,283 5 69,288 18,401 21 72,571 3,283 5 175,628 Other General Expenses Membership and Fees 23,237 21,914 -1,323 -6 25,689 2,452 10 23,237 -1,323 -6 25,689 2,452 10 42,992 Bank Fees 228 236 8 3 305 77 25 228 8 3 305 77 25 483 Filing Fees 150 70 -80 -114 200 50 25 150 -80 -114 200 50 25 201 Office Supplies 8,316 19,636 11,320 58 18,295 9,979 55 8,316 11,320 58 18,295 9,979 55 39,390 Copier and Printer Usage | Supplies 9,288 10,576 1,289 12 10,117 830 8 9,288 1,289 12 10,117 830 8 22,108 Postage Usage | Supplies 9,213 6,990 -2,224 -32 8,704 -509 -6 9,213 -2,224 -32 8,704 -509 -6 16,247 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 30 of 19450 EXHIBIT: Budget Comparison|HC Parent PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Parent (No Vouchers - Includes Development) (.hcparnt) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Publications 497 831 335 40 691 194 28 497 335 40 691 194 28 2,035 Small Office Equipment 904 3,365 2,462 73 729 -174 -24 904 2,462 73 729 -174 -24 4,607 Meetings Expenses 3,966 10,814 6,848 63 16,729 12,763 76 3,966 6,848 63 16,729 12,763 76 22,898 Miscellaneous General Expense 4,984 0 -4,984 N/A 0 -4,984 N/A 4,984 -4,984 N/A 0 -4,984 N/A 1,475 Facilities Rent 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 13,686 Total Other General Expenses 60,782 74,433 13,651 18 81,460 20,678 25 60,782 13,651 18 81,460 20,678 25 166,121 TOTAL GENERAL EXPENSES 244,069 327,073 83,005 25 355,652 111,583 31 244,069 83,005 25 355,652 111,583 31 653,765 TOTAL DIRECT OPERATING EXPENSES 5,442,819 5,978,092 535,273 9 5,471,853 29,034 1 5,442,819 535,273 9 5,471,853 29,034 1 11,908,359 TOTAL OPERATING EXPENSES 5,442,819 5,978,091 535,272 9 5,471,853 29,034 1 5,442,819 535,272 9 5,471,853 29,034 1 11,908,358 NET OPERATING INCOME -49,140 -1,006,476 957,336 95 -226,641 177,500 78 -49,140 957,336 95 -226,641 177,500 78 -316,814 -1,006,476 NON-OPERATING INCOME | EXPENSE NON OPERATING INCOME Interest Income - Soft Debt 712,980 890,761 -177,781 -20 0 712,980 N/A 712,980 -177,781 -20 0 712,980 N/A 1,781,522 Interest Income - Hard Debt 111,098 89,506 21,592 24 805,237 -694,140 -86 111,098 21,592 24 805,237 -694,140 -86 179,013 TOTAL NON OPERATING INCOME 824,078 980,267 -156,189 -16 805,237 18,841 2 824,078 -156,189 -16 805,237 18,841 2 1,960,535 NON OPERATING EXPENSES Interest Expense - Soft Loans 2,244 2,226 -18 -1 2,251 6 0 2,244 -18 -1 2,251 6 0 2,226 Interest Expense - Hard Loans 25,461 27,125 1,663 6 49,869 24,408 49 25,461 1,663 6 49,869 24,408 49 46,603 Interest Expense - Other 7,368 0 -7,368 N/A 808 -6,560 -812 7,368 -7,368 N/A 808 -6,560 -812 0 Interest Expense - Bond 1 85,450 85,594 144 0 90,395 4,945 5 85,450 144 0 90,395 4,945 5 171,188 Other Financing Costs 0 250 250 100 0 0 N/A 0 250 100 0 0 N/A 500 120,523 115,195 -5,328 -5 143,323 22,799 16 120,523 -5,328 -5 143,323 22,799 16 220,518 Depreciation - Buildings 29,644 33,857 4,213 12 29,280 -363 -1 29,644 4,213 12 29,280 -363 -1 67,714 5,655 4,896 -759 -16 4,896 -759 -16 5,655 -759 -16 4,896 -759 -16 9,792 Depreciation - Improvements 20,397 27,759 7,362 27 20,397 0 0 20,397 7,362 27 20,397 0 0 55,519 Amortization - Leased Assets 12,533 5,062 -7,470 -148 12,533 0 0 12,533 -7,470 -148 12,533 0 0 10,124 68,228 71,574 3,346 5 67,106 -1,123 -2 68,228 3,346 5 67,106 -1,123 -2 143,149 Operating Transfers 4,500 0 -4,500 N/A 0 -4,500 N/A 4,500 -4,500 N/A 0 -4,500 N/A 0 Grant Expense - Non-Operating 25,000 25,000 0 0 0 -25,000 N/A 25,000 0 0 0 -25,000 N/A 50,000 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 31 of 19451 EXHIBIT: Budget Comparison|HC Parent PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Parent (No Vouchers - Includes Development) (.hcparnt) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is 25,000 25,000 0 0 0 -25,000 N/A 25,000 0 0 0 -25,000 N/A 50,000 TOTAL NON OPERATING EXPENSES 218,252 211,769 -6,482 -3 210,429 -7,823 -4 218,252 -6,482 -3 210,429 -7,823 -4 413,667 PARTNERSHIP INCOME(EXPENSES)768,498 Income (Loss) - Partnerships 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 55,270 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 55,270 NET NON-OPERATING INCOME(EXP 605,827 768,498 -162,671 -21 594,809 11,018 2 605,827 -162,671 -21 594,809 11,018 2 1,602,138 NET INCOME (LOSS)556,686 -237,978 794,664 334 368,168 188,518 51 556,686 794,664 334 368,168 188,518 51 1,285,324 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 32 of 19452 EXHIBIT: Cost Center Summary ACTUAL cocc-com cocc-exe cocc-fin cocc-it cocc-sga cocc-tm Total OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: FIN $0 $0 ($598,065)$0 $0 $0 ($598,065) Intra-Co Alloc: TM $5,830 $14,574 $28,566 $0 $0 ($255,952)($206,982) Intra-Co Alloc: IT $9,499 $23,748 $46,546 ($417,056)$0 $0 ($337,263) Intra-Co Alloc: IOH ($120,766)($747,400)$0 $0 $0 $0 ($868,166) Intra-Co Alloc: SGA $0 $0 $0 $0 ($135,273)$0 ($135,273) Intra-Co Billings $0 $0 $0 $0 $10,098 $0 $10,098 TOTAL INTRA-Co ALLOCATIONS ($105,437)($709,078)($522,953)($417,056)($125,175)($255,952)($2,135,650) DIRECT OPERATING EXPENSES ADMINISTRATIVE Total Labor Expenses $103,718 $646,595 $446,238 $83,093 $0 $189,676 $1,469,320 Total Legal Expense $0 $3,190 $90 $0 $0 $1,097 $4,377 Total Other Administrative Expenses $339 $23,025 $65,528 $2,529 $81 $53,407 $144,908 Total Technology Expenses $1,097 $1,270 $1,900 $319,128 $4,920 $5,857 $334,173 TOTAL ADMINISTRATIVE EXPENSES $105,154 $674,081 $513,756 $404,749 $5,001 $250,036 $1,952,778 GENERAL EXPENSES Total Utility Expenses $0 $95 $0 $0 $15,043 $0 $15,138 Total Maintenance Expenses $0 $469 $0 $0 $36,074 $0 $36,543 Total Vehicle Expenses $0 $0 $0 $0 $17 $0 $17 Total Tax & Insurance Expenses $0 $15,389 $4,541 $11,742 $19,123 $500 $51,294 Total Other General Expenses $283 $19,044 $4,656 $565 $12,753 $5,416 $42,717 TOTAL GENERAL EXPENSES $283 $34,997 $9,197 $12,307 $83,010 $5,916 $145,709 TOTAL DIRECT OPERATING EXPENSES $105,437 $709,078 $522,953 $417,056 $88,011 $255,952 $2,098,487 TOTAL OPERATING EXPENSES $0 $0 $0 $0 ($37,163)$0 ($37,163) NET OPERATING INCOME $0 $0 $0 $0 $37,163 $0 $37,163 NON-OPERATING INCOME | EXPENSE Total Interest Expense $0 $0 $0 $0 $10,748 $0 $10,748 Total Depreciation | Amortization Expense $0 $0 $0 $0 $26,415 $0 $26,415 NET NON-OPERATING INCOME(EXPENSE)$0 $0 $0 $0 ($37,163)$0 ($37,163) NET INCOME (LOSS)$0 $0 $0 $0 $0 $0 $0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 33 of 19453 EXHIBIT: Cost Center Summary BUDGET cocc-com cocc-exe cocc-fin cocc-it cocc-sga cocc-tm Total OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: FIN $0 $0 ($661,556)$0 $0 $0 ($661,556) Intra-Co Alloc: TM $8,042 $20,105 $39,407 $0 $0 ($353,093)($285,538) Intra-Co Alloc: IT $10,204 $25,511 $50,002 ($448,025)$0 $0 ($362,308) Intra-Co Alloc: IOH ($141,940)($792,908)$0 $0 $0 $0 ($934,848) Intra-Co Alloc: SGA $0 $0 $0 $0 ($177,120)$0 ($177,120) Intra-Co Billings $0 $0 $0 $0 $10,100 $0 $10,100 TOTAL INTRA-Co ALLOCATIONS ($123,693)($747,292)($572,147)($448,025)($167,020)($353,093)($2,411,269) Total Labor Expenses $111,386 $643,613 $511,445 $91,372 $0 $187,147 $1,544,964 Total Legal Expense $0 $5,243 $0 $0 $0 $670 $5,913 Total Other Administrative Expenses $10,091 $60,564 $45,154 $4,350 $728 $139,649 $260,536 Total Technology Expenses $3,850 $1,500 $2,400 $346,494 $0 $30,699 $384,943 TOTAL ADMINISTRATIVE EXPENSES $125,328 $710,920 $558,999 $442,215 $777 $358,164 $2,196,404 TOTAL DIRECT OPERATING EXPENSES $125,808 $750,351 $567,910 $457,190 $116,432 $365,991 $2,383,681 TOTAL OPERATING EXPENSES $2,115 $3,059 ($4,237)$9,165 ($50,587)$12,898 ($27,588) NET OPERATING INCOME $2,115 $3,059 ($4,237)$9,165 $21,939 $12,898 $44,938 Total Interest Expense $0 $0 $0 $0 $13,498 $0 $13,498 Total Depreciation | Amortization Expense $0 $0 $0 $0 $41,837 $0 $41,837 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 34 of 19454 EXHIBIT: Cost Center Summary NET INCOME (LOSS)$2,115 $3,059 ($4,237)$9,165 $2,948 $12,898 $25,947 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 35 of 19455 EXHIBIT: Budget Comparison|COCCs-ALL PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME NET POTENTIAL RENT ADJUSTMENTS Storage Rent 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 NET POTENTIAL RENT ADJUSTMENTS 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 NET RENTAL INCOME 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 EFFECTIVE GROSS INCOME 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 TOTAL OPERATING REVENUE 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: FIN -598,065 -661,556 -63,491 -10 -507,647 90,417 18 -598,065 -63,491 -10 -507,647 90,417 18 -1,323,111 Intra-Co Alloc: TM -206,982 -285,539 -78,556 -28 -175,548 31,434 18 -206,982 -78,556 -28 -175,548 31,434 18 -571,077 Intra-Co Alloc: IT -337,263 -362,308 -25,045 -7 -305,051 32,212 11 -337,263 -25,045 -7 -305,051 32,212 11 -724,616 Intra-Co Alloc: IOH -868,166 -934,848 -66,682 -7 -808,590 59,576 7 -868,166 -66,682 -7 -808,590 59,576 7 -1,869,696 Intra-Co Alloc: SGA -135,273 -177,120 -41,847 -24 -146,774 -11,502 -8 -135,273 -41,847 -24 -146,774 -11,502 -8 -354,239 Intra-Co Billings 10,098 10,100 2 0 0 -10,098 N/A 10,098 2 0 0 -10,098 N/A 20,200 TOTAL INTRA-Co ALLOCATIONS -2,135,650 -2,411,269 -275,619 -11 -1,943,611 192,039 10 -2,135,650 -275,619 -11 -1,943,611 192,039 10 -4,822,539 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 1,223,955 1,284,919 60,964 5 1,076,053 -147,902 -14 1,223,955 60,964 5 1,076,053 -147,902 -14 2,569,837 Medical Insurance 62,803 61,880 -923 -1 48,923 -13,881 -28 62,803 -923 -1 48,923 -13,881 -28 123,760 9,213 12,849 3,636 28 8,531 -683 -8 9,213 3,636 28 8,531 -683 -8 25,698 EAP Program 0 1,831 1,831 100 1,148 1,148 100 0 1,831 100 1,148 1,148 100 3,661 MERP Program Reimbursements 10,922 10,922 0 0 2,121 -8,801 -415 10,922 0 0 2,121 -8,801 -415 21,844 Workers Comp 15,102 12,849 -2,253 -18 13,704 -1,398 -10 15,102 -2,253 -18 13,704 -1,398 -10 25,698 ER Retirement Contributions 122,345 128,492 6,146 5 107,606 -14,740 -14 122,345 6,146 5 107,606 -14,740 -14 256,983 ER Payroll Taxes 19,254 19,659 405 2 16,780 -2,474 -15 19,254 405 2 16,780 -2,474 -15 39,318 All COCC funds (EXCLUDES PROFIT CENTERS) (.coccall) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 36 of 19456 EXHIBIT: Budget Comparison|COCCs-ALL PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual All COCC funds (EXCLUDES PROFIT CENTERS) (.coccall) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is ER FAMLI 5,726 11,564 5,839 50 3,828 -1,898 -50 5,726 5,839 50 3,828 -1,898 -50 23,129 Total Benefits Expenses 245,366 260,045 14,680 6 202,641 -42,725 -21 245,366 14,680 6 202,641 -42,725 -21 520,091 Total Labor Expenses 1,469,320 1,544,964 75,644 5 1,278,694 -190,626 -15 1,469,320 75,644 5 1,278,694 -190,626 -15 3,089,928 Legal Expense Legal-Criminal Background Checks 647 670 23 3 476 -171 -36 647 23 3 476 -171 -36 1,235 Legal-General Expense 3,730 5,243 1,513 29 3,308 -422 -13 3,730 1,513 29 3,308 -422 -13 12,288 Total Legal Expense 4,377 5,913 1,536 26 3,783 -593 -16 4,377 1,536 26 3,783 -593 -16 13,523 Other Administrative Expenses Staff Training & Conferences 12,601 57,406 44,805 78 46,249 33,649 73 12,601 44,805 78 46,249 33,649 73 127,909 Companywide Training 28,952 45,000 16,048 36 1,128 -27,824 -2,467 28,952 16,048 36 1,128 -27,824 -2,467 90,000 Education Assistance 0 15,000 15,000 100 0 0 N/A 0 15,000 100 0 0 N/A 30,000 Travel, Lodging & Per Diems 11,981 10,151 -1,830 -18 3,135 -8,846 -282 11,981 -1,830 -18 3,135 -8,846 -282 24,640 Mileage 1,469 870 -599 -69 348 -1,121 -322 1,469 -599 -69 348 -1,121 -322 1,501 Meals - Business Partners 1,946 0 -1,946 N/A 0 -1,946 N/A 1,946 -1,946 N/A 0 -1,946 N/A 0 Payroll Processing Fees 11,116 11,278 162 1 11,129 14 0 11,116 162 1 11,129 14 0 20,209 Rating Agency Expenses 6,000 5,750 -250 -4 6,000 0 0 6,000 -250 -4 6,000 0 0 11,500 Auditing & Tax Services 3,961 3,804 -157 -4 10,874 6,913 64 3,961 -157 -4 10,874 6,913 64 7,608 Marketing 446 6,850 6,404 93 3,788 3,342 88 446 6,404 93 3,788 3,342 88 12,497 Parking Fees 1 0 -1 N/A 440 439 100 1 -1 N/A 440 439 100 0 Consultants 26,853 62,500 35,647 57 34,928 8,075 23 26,853 35,647 57 34,928 8,075 23 125,000 Sponsorships 0 0 0 N/A 2,500 2,500 100 0 0 N/A 2,500 2,500 100 0 Employee Wellness 2,930 7,500 4,570 61 788 -2,143 -272 2,930 4,570 61 788 -2,143 -272 15,000 Recruiting 30,850 12,500 -18,350 -147 9,406 -21,444 -228 30,850 -18,350 -147 9,406 -21,444 -228 25,000 Miscellaneous Admin Expenses 5,804 21,927 16,124 74 20,905 15,101 72 5,804 16,124 74 20,905 15,101 72 23,255 Total Other Administrative Expenses 144,908 260,536 115,628 44 151,617 6,709 4 144,908 115,628 44 151,617 6,709 4 514,118 Technology Expenses Managed Services - City 91,599 88,425 -3,174 -4 84,608 -6,992 -8 91,599 -3,174 -4 84,608 -6,992 -8 176,851 Managed Services - Consultants 20,905 14,000 -6,905 -49 20,852 -53 0 20,905 -6,905 -49 20,852 -53 0 28,000 Software License Fees 153,681 149,531 -4,151 -3 137,134 -16,548 -12 153,681 -4,151 -3 137,134 -16,548 -12 295,369 Software Support Agreements 0 6,000 6,000 100 0 0 N/A 0 6,000 100 0 0 N/A 12,000 Software Implementations 0 35,000 35,000 100 0 0 N/A 0 35,000 100 0 0 N/A 35,000 Computers and Peripherals 22,091 34,843 12,751 37 9,706 -12,385 -128 22,091 12,751 37 9,706 -12,385 -128 69,685 Network Hardware 5,386 13,067 7,682 59 0 -5,386 N/A 5,386 7,682 59 0 -5,386 N/A 26,135 Cable Services 180 0 -180 N/A 211 31 15 180 -180 N/A 211 31 15 0 Telephone - Landline|Virtual 19,980 21,810 1,830 8 20,051 71 0 19,980 1,830 8 20,051 71 0 43,620 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 37 of 19457 EXHIBIT: Budget Comparison|COCCs-ALL PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual All COCC funds (EXCLUDES PROFIT CENTERS) (.coccall) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Internet Services 1,589 0 -1,589 N/A 1,429 -160 -11 1,589 -1,589 N/A 1,429 -160 -11 0 Cellular - Phones | Tablets 18,761 21,236 2,475 12 23,128 4,367 19 18,761 2,475 12 23,128 4,367 19 42,473 Web Hosting and Other 0 1,030 1,030 100 0 0 N/A 0 1,030 100 0 0 N/A 2,060 Total Technology Expenses 334,173 384,942 50,770 13 297,118 -37,055 -12 334,173 50,770 13 297,118 -37,055 -12 731,192 Compliance Expenses Compliance Services - Internal 0 49 49 100 0 0 N/A 0 49 100 0 0 N/A 98 Total Compliance Expenses 0 49 49 100 0 0 N/A 0 49 100 0 0 N/A 98 TOTAL ADMINISTRATIVE EXPENSES 1,952,778 2,196,404 243,626 11 1,731,212 -221,565 -13 1,952,778 243,626 11 1,731,212 -221,565 -13 4,348,860 GENERAL EXPENSES Resident Services Resident Programming 0 0 0 N/A 145 145 100 0 0 N/A 145 145 100 0 Total Resident Services 0 0 0 N/A 145 145 100 0 0 N/A 145 145 100 0 Utilities Expense Water 1,787 3,426 1,639 48 2,388 600 25 1,787 1,639 48 2,388 600 25 6,722 Electricity 7,043 7,649 606 8 6,807 -236 -3 7,043 606 8 6,807 -236 -3 15,298 Gas 2,622 3,491 869 25 2,774 151 5 2,622 869 25 2,774 151 5 6,317 Trash Removal Services 3,686 3,938 253 6 3,867 181 5 3,686 253 6 3,867 181 5 7,877 Total Utility Expenses 15,138 18,504 3,366 18 15,836 697 4 15,138 3,366 18 15,836 697 4 36,214 Maintenance Expenses Equipment Rentals 1,459 1,057 -402 -38 1,764 305 17 1,459 -402 -38 1,764 305 17 2,114 Total General Maint Expense 1,459 1,057 -402 -38 1,764 305 17 1,459 -402 -38 1,764 305 17 2,114 Supplies-Grounds 65 0 -65 N/A 0 -65 N/A 65 -65 N/A 0 -65 N/A 0 Supplies-Appliances 0 0 0 N/A 90 90 100 0 0 N/A 90 90 100 0 Supplies-Electrical 60 0 -60 N/A 0 -60 N/A 60 -60 N/A 0 -60 N/A 0 Supplies-Pest Control 46 0 -46 N/A 3 -43 -1,233 46 -46 N/A 3 -43 -1,233 0 Supplies-Janitorial 688 0 -688 N/A 912 223 24 688 -688 N/A 912 223 24 0 Supplies-General 0 0 0 N/A 133 133 100 0 0 N/A 133 133 100 0 Supplies-Plumbing 0 0 0 N/A 44 44 100 0 0 N/A 44 44 100 0 Supplies-HVAC 96 0 -96 N/A 0 -96 N/A 96 -96 N/A 0 -96 N/A 0 Supplies-Doors 0 0 0 N/A 101 101 100 0 0 N/A 101 101 100 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 38 of 19458 EXHIBIT: Budget Comparison|COCCs-ALL PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual All COCC funds (EXCLUDES PROFIT CENTERS) (.coccall) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Supplies | Materials 955 0 -955 N/A 1,283 328 26 955 -955 N/A 1,283 328 26 0 Contract-Work Orders - Internal 2,274 5,377 3,103 58 3,053 780 26 2,274 3,103 58 3,053 780 26 10,754 Contract-Preventative - Internal 4,998 100 -4,898 -4,897 2,500 -2,498 -100 4,998 -4,898 -4,897 2,500 -2,498 -100 200 Contract-Painting 0 3,500 3,500 100 3,848 3,848 100 0 3,500 100 3,848 3,848 100 3,500 Contract-System Services 2,315 2,229 -87 -4 1,724 -591 -34 2,315 -87 -4 1,724 -591 -34 4,037 Contract-Carpet Cleaning 0 500 500 100 749 749 100 0 500 100 749 749 100 1,000 Contract-Electrical 0 0 0 N/A 470 470 100 0 0 N/A 470 470 100 0 Contract-Pest Control 235 0 -235 N/A 0 -235 N/A 235 -235 N/A 0 -235 N/A 0 Contract-Grounds 11,924 18,244 6,321 35 9,026 -2,898 -32 11,924 6,321 35 9,026 -2,898 -32 35,586 Contract-Janitorial 10,743 14,844 4,101 28 10,754 11 0 10,743 4,101 28 10,754 11 0 28,911 Contract-Plumbing 305 255 -50 -20 518 213 41 305 -50 -20 518 213 41 1,009 Contract-HVAC 653 6,697 6,044 90 6,746 6,093 90 653 6,044 90 6,746 6,093 90 13,394 Contract-Alarms 469 453 -15 -3 456 -13 -3 469 -15 -3 456 -13 -3 895 Contract-General 213 2,043 1,830 90 1,395 1,182 85 213 1,830 90 1,395 1,182 85 4,087 Total Contract Costs 34,128 54,242 20,114 37 41,239 7,111 17 34,128 20,114 37 41,239 7,111 17 103,372 Total Maintenance Expenses - Core 36,543 55,299 18,756 34 44,286 7,743 17 36,543 18,756 34 44,286 7,743 17 105,486 Total Maintenance Expenses 36,543 55,299 18,756 34 44,286 7,743 17 36,543 18,756 34 44,286 7,743 17 105,486 DNU-Facility Costs DNU-Total Facility Costs 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 0 Vehicle-Fuel 0 0 0 N/A 203 203 100 0 0 N/A 203 203 100 0 Vehicle-Repairs 17 0 -17 N/A 406 389 96 17 -17 N/A 406 389 96 0 Vehicle-Fixed Fee Maintenance 0 0 0 N/A 29 29 100 0 0 N/A 29 29 100 0 Total Vehicle Expenses 17 0 -17 N/A 638 621 97 17 -17 N/A 638 621 97 0 Insurance & Taxes Expenses Insurance - Property 9,390 12,132 2,742 23 56,525 47,135 83 9,390 2,742 23 56,525 47,135 83 24,264 Insurance - Liability 1,712 6,616 4,903 74 0 -1,712 N/A 1,712 4,903 74 0 -1,712 N/A 13,231 Insurance - Umbrella 0 158 158 100 0 0 N/A 0 158 100 0 0 N/A 315 Insurance - D&O | E&O 15,054 16,844 1,790 11 0 -15,054 N/A 15,054 1,790 11 0 -15,054 N/A 33,687 Insurance - Specialty | Other 25,139 29,700 4,562 15 0 -25,139 N/A 25,139 4,562 15 0 -25,139 N/A 59,400 Misc. Taxes & Licenses 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 250 Total Tax & Insurance Expenses 51,294 65,449 14,155 22 56,525 5,231 9 51,294 14,155 22 56,525 5,231 9 131,147 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 39 of 19459 EXHIBIT: Budget Comparison|COCCs-ALL PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual All COCC funds (EXCLUDES PROFIT CENTERS) (.coccall) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Other General Expenses Membership and Fees 21,479 18,706 -2,773 -15 24,777 3,298 13 21,479 -2,773 -15 24,777 3,298 13 37,429 Office Supplies 7,041 11,857 4,816 41 10,751 3,710 35 7,041 4,816 41 10,751 3,710 35 22,386 Copier and Printer Usage | Supplies 7,213 7,333 120 2 6,531 -682 -10 7,213 120 2 6,531 -682 -10 14,961 Postage Usage | Supplies 1,485 1,375 -109 -8 1,858 374 20 1,485 -109 -8 1,858 374 20 3,282 Publications 433 592 159 27 337 -96 -29 433 159 27 337 -96 -29 1,444 Small Office Equipment 728 1,965 1,238 63 729 2 0 728 1,238 63 729 2 0 2,792 Meetings Expenses 2,595 6,197 3,601 58 10,722 8,127 76 2,595 3,601 58 10,722 8,127 76 11,467 Miscellaneous General Expense 1,744 0 -1,744 N/A 0 -1,744 N/A 1,744 -1,744 N/A 0 -1,744 N/A 0 Total Other General Expenses 42,717 48,025 5,308 11 55,706 12,989 23 42,717 5,308 11 55,706 12,989 23 93,762 TOTAL GENERAL EXPENSES 145,709 187,277 41,568 22 173,135 27,426 16 145,709 41,568 22 173,135 27,426 16 366,609 TOTAL DIRECT OPERATING EXPENSES 2,098,487 2,383,681 285,194 12 1,904,347 -194,139 -10 2,098,487 285,194 12 1,904,347 -194,139 -10 4,715,469 TOTAL OPERATING EXPENSES -37,163 -27,588 9,575 35 -39,264 -2,100 -5 -37,163 9,575 35 -39,264 -2,100 -5 -107,070 NET OPERATING INCOME 37,163 29,388 7,775 26 39,264 -2,100 -5 37,163 7,775 26 39,264 -2,100 -5 110,670 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Hard Loans 10,748 13,498 2,750 20 14,376 3,628 25 10,748 2,750 20 14,376 3,628 25 26,996 10,748 13,498 2,750 20 14,376 3,628 25 10,748 2,750 20 14,376 3,628 25 26,996 Depreciation - Buildings 363 9,182 8,819 96 0 -363 N/A 363 8,819 96 0 -363 N/A 18,364 Depreciation - Furn,Fix,Equip - Common 5,655 4,896 -759 -16 4,896 -759 -16 5,655 -759 -16 4,896 -759 -16 9,792 Depreciation - Improvements 20,397 27,759 7,362 27 20,397 0 0 20,397 7,362 27 20,397 0 0 55,519 26,415 41,837 15,422 37 25,293 -1,123 -4 26,415 15,422 37 25,293 -1,123 -4 83,674 TOTAL NON OPERATING EXPENSES 37,163 55,335 18,171 33 39,669 2,505 6 37,163 18,171 33 39,669 2,505 6 110,670 NET NON-OPERATING INCOME(EXPENSE)-37,163 -55,335 18,171 33 -39,669 2,505 6 -37,163 18,171 33 -39,669 2,505 6 -110,670 NET INCOME (LOSS)0 -25,947 25,947 100 -405 405 100 0 25,947 100 -405 405 100 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 40 of 19460 EXHIBIT: Budget Comparison|COCC-FIN PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: FIN -598,065 -661,556 -63,491 -10 -507,647 90,417 18 -598,065 -63,491 -10 -507,647 90,417 18 -1,323,111 Intra-Co Alloc: TM 28,566 39,407 10,841 28 18,668 -9,898 -53 28,566 10,841 28 18,668 -9,898 -53 78,814 Intra-Co Alloc: IT 46,546 50,002 3,456 7 32,439 -14,107 -43 46,546 3,456 7 32,439 -14,107 -43 100,003 TOTAL INTRA-Co ALLOCATIONS -522,953 -572,147 -49,194 -9 -456,540 66,413 15 -522,953 -49,194 -9 -456,540 66,413 15 -1,144,294 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 367,171 423,997 56,826 13 332,505 -34,666 -10 367,171 56,826 13 332,505 -34,666 -10 847,993 Medical Insurance 23,573 21,840 -1,733 -8 17,673 -5,900 -33 23,573 -1,733 -8 17,673 -5,900 -33 43,680 3,275 4,240 965 23 2,772 -503 -18 3,275 965 23 2,772 -503 -18 8,480 EAP Program 0 823 823 100 493 493 100 0 823 100 493 493 100 1,645 MERP Program Reimbursements 3,604 3,604 0 0 678 -2,926 -432 3,604 0 0 678 -2,926 -432 7,208 Workers Comp 4,476 4,240 -236 -6 4,197 -280 -7 4,476 -236 -6 4,197 -280 -7 8,480 ER Retirement Contributions 36,667 42,400 5,733 14 33,251 -3,416 -10 36,667 5,733 14 33,251 -3,416 -10 84,799 ER Payroll Taxes 5,604 6,487 883 14 5,136 -468 -9 5,604 883 14 5,136 -468 -9 12,974 ER FAMLI 1,869 3,816 1,947 51 1,141 -727 -64 1,869 1,947 51 1,141 -727 -64 7,632 Total Benefits Expenses 79,068 87,449 8,381 10 65,340 -13,728 -21 79,068 8,381 10 65,340 -13,728 -21 174,898 Total Labor Expenses 446,238 511,445 65,207 13 397,845 -48,394 -12 446,238 65,207 13 397,845 -48,394 -12 1,022,891 Legal Expense Legal-General Expense 90 0 -90 N/A 405 315 78 90 -90 N/A 405 315 78 0 Total Legal Expense 90 0 -90 N/A 405 315 78 90 -90 N/A 405 315 78 0 Other Administrative Expenses Staff Training & Conferences 4,618 5,100 482 9 10,623 6,005 57 4,618 482 9 10,623 6,005 57 14,050 Travel, Lodging & Per Diems 1,621 4,900 3,279 67 0 -1,621 N/A 1,621 3,279 67 0 -1,621 N/A 14,425 Mileage 86 0 -86 N/A 16 -70 -452 86 -86 N/A 16 -70 -452 0 Rating Agency Expenses 6,000 5,750 -250 -4 6,000 0 0 6,000 -250 -4 6,000 0 0 11,500 Auditing & Tax Services 3,961 3,804 -157 -4 0 -3,961 N/A 3,961 -157 -4 0 -3,961 N/A 7,608 Parking Fees 1 0 -1 N/A 0 -1 N/A 1 -1 N/A 0 -1 N/A 0 Financial Services Cost Center (cocc-fin) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 41 of 19461 EXHIBIT: Budget Comparison|COCC-FIN PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Financial Services Cost Center (cocc-fin) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Consultants 18,477 25,000 6,523 26 29,755 11,278 38 18,477 6,523 26 29,755 11,278 38 50,000 Recruiting 30,400 0 -30,400 N/A 0 -30,400 N/A 30,400 -30,400 N/A 0 -30,400 N/A 0 Miscellaneous Admin Expenses 364 600 236 39 666 301 45 364 236 39 666 301 45 1,200 Total Other Administrative Expenses 65,528 45,154 -20,374 -45 47,059 -18,469 -39 65,528 -20,374 -45 47,059 -18,469 -39 98,783 Technology Expenses Cellular - Phones | Tablets 1,900 2,400 500 21 1,950 50 3 1,900 500 21 1,950 50 3 4,800 Total Technology Expenses 1,900 2,400 500 21 1,950 50 3 1,900 500 21 1,950 50 3 4,800 TOTAL ADMINISTRATIVE EXPENSES 513,756 559,000 45,243 8 447,258 -66,498 -15 513,756 45,243 8 447,258 -66,498 -15 1,126,474 GENERAL EXPENSES Insurance & Taxes Expenses Insurance - Property 0 0 0 N/A 4,229 4,229 100 0 0 N/A 4,229 4,229 100 0 Insurance - Specialty | Other 4,541 2,310 -2,231 -97 0 -4,541 N/A 4,541 -2,231 -97 0 -4,541 N/A 4,620 Total Tax & Insurance Expenses 4,541 2,310 -2,231 -97 4,229 -312 -7 4,541 -2,231 -97 4,229 -312 -7 4,620 Other General Expenses Membership and Fees 810 1,200 390 32 729 -81 -11 810 390 32 729 -81 -11 2,400 Office Supplies 626 1,500 874 58 1,135 509 45 626 874 58 1,135 509 45 3,000 Copier and Printer Usage | Supplies 888 1,500 612 41 1,186 298 25 888 612 41 1,186 298 25 3,000 Postage Usage | Supplies 1,306 1,200 -106 -9 1,545 239 15 1,306 -106 -9 1,545 239 15 2,400 Meetings Expenses 651 1,200 549 46 863 212 25 651 549 46 863 212 25 2,400 Miscellaneous General Expense 375 0 -375 N/A 0 -375 N/A 375 -375 N/A 0 -375 N/A 0 Total Other General Expenses 4,656 6,600 1,944 29 5,458 802 15 4,656 1,944 29 5,458 802 15 13,200 TOTAL GENERAL EXPENSES 9,197 8,910 -287 -3 9,687 490 5 9,197 -287 -3 9,687 490 5 17,820 TOTAL DIRECT OPERATING EXPENSES 522,953 567,910 44,957 8 456,945 -66,008 -14 522,953 44,957 8 456,945 -66,008 -14 1,144,294 TOTAL OPERATING EXPENSES 0 -4,237 -4,237 -100 405 405 100 0 -4,237 -100 405 405 100 0 NET OPERATING INCOME 0 4,237 -4,237 -100 -405 405 100 0 -4,237 -100 -405 405 100 0 NET INCOME (LOSS)0 4,237 -4,237 -100 -405 405 100 0 -4,237 -100 -405 405 100 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 42 of 19462 EXHIBIT: Budget Comparison|COCC-TM PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: TM -255,952 -353,093 -97,141 -28 -208,217 47,735 23 -255,952 -97,141 -28 -208,217 47,735 23 -706,186 TOTAL INTRA-Co ALLOCATIONS -255,952 -353,093 -97,141 -28 -208,217 47,735 23 -255,952 -97,141 -28 -208,217 47,735 23 -706,186 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 155,920 152,650 -3,270 -2 140,442 -15,478 -11 155,920 -3,270 -2 140,442 -15,478 -11 305,300 Medical Insurance 9,968 10,920 952 9 8,265 -1,703 -21 9,968 952 9 8,265 -1,703 -21 21,840 1,711 1,526 -185 -12 1,897 185 10 1,711 -185 -12 1,897 185 10 3,053 EAP Program 0 252 252 100 189 189 100 0 252 100 189 189 100 504 MERP Program Reimbursements 1,298 1,298 0 0 288 -1,010 -351 1,298 0 0 288 -1,010 -351 2,595 Workers Comp 1,939 1,526 -412 -27 1,815 -123 -7 1,939 -412 -27 1,815 -123 -7 3,053 ER Retirement Contributions 15,592 15,265 -327 -2 14,044 -1,548 -11 15,592 -327 -2 14,044 -1,548 -11 30,530 ER Payroll Taxes 2,550 2,336 -214 -9 2,242 -307 -14 2,550 -214 -9 2,242 -307 -14 4,671 ER FAMLI 699 1,374 675 49 516 -183 -35 699 675 49 516 -183 -35 2,748 Total Benefits Expenses 33,756 34,497 741 2 29,256 -4,500 -15 33,756 741 2 29,256 -4,500 -15 68,994 Total Labor Expenses 189,676 187,147 -2,529 -1 169,697 -19,979 -12 189,676 -2,529 -1 169,697 -19,979 -12 374,294 Legal Expense Legal-Criminal Background Checks 647 670 23 3 476 -171 -36 647 23 3 476 -171 -36 1,235 Legal-General Expense 450 0 -450 N/A 0 -450 N/A 450 -450 N/A 0 -450 N/A 1,245 Total Legal Expense 1,097 670 -427 -64 476 -621 -130 1,097 -427 -64 476 -621 -130 2,480 Other Administrative Expenses Staff Training & Conferences 1,119 8,144 7,024 86 1,840 721 39 1,119 7,024 86 1,840 721 39 16,287 Companywide Training 28,952 45,000 16,048 36 1,128 -27,824 -2,467 28,952 16,048 36 1,128 -27,824 -2,467 90,000 Education Assistance 0 15,000 15,000 100 0 0 N/A 0 15,000 100 0 0 N/A 30,000 Travel, Lodging & Per Diems 1,408 2,324 917 39 162 -1,246 -772 1,408 917 39 162 -1,246 -772 4,649 Mileage 0 404 404 100 45 45 100 0 404 100 45 45 100 722 Payroll Processing Fees 11,116 11,278 162 1 11,129 14 0 11,116 162 1 11,129 14 0 20,209 Marketing 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 47 Talent Management Cost Center (cocc-tm) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 43 of 19463 EXHIBIT: Budget Comparison|COCC-TM PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Talent Management Cost Center (cocc-tm) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Consultants 8,376 37,500 29,124 78 5,173 -3,203 -62 8,376 29,124 78 5,173 -3,203 -62 75,000 Employee Wellness 673 7,500 6,827 91 788 115 15 673 6,827 91 788 115 15 15,000 Recruiting 450 12,500 12,050 96 9,406 8,956 95 450 12,050 96 9,406 8,956 95 25,000 Miscellaneous Admin Expenses 1,314 0 -1,314 N/A 0 -1,314 N/A 1,314 -1,314 N/A 0 -1,314 N/A 0 Total Other Administrative Expenses 53,407 139,649 86,242 62 29,669 -23,737 -80 53,407 86,242 62 29,669 -23,737 -80 276,913 Technology Expenses Managed Services - Consultants 0 0 0 N/A 885 885 100 0 0 N/A 885 885 100 0 Software License Fees 4,957 9,799 4,842 49 0 -4,957 N/A 4,957 4,842 49 0 -4,957 N/A 19,598 Software Implementations 0 20,000 20,000 100 0 0 N/A 0 20,000 100 0 0 N/A 20,000 Cellular - Phones | Tablets 900 900 0 0 650 -250 -38 900 0 0 650 -250 -38 1,800 Total Technology Expenses 5,857 30,699 24,842 81 1,535 -4,322 -282 5,857 24,842 81 1,535 -4,322 -282 41,398 TOTAL ADMINISTRATIVE EXPENSES 250,036 358,165 108,128 30 201,378 -48,659 -24 250,036 108,128 30 201,378 -48,659 -24 695,085 GENERAL EXPENSES Insurance & Taxes Expenses Insurance - Property 0 0 0 N/A 31 31 100 0 0 N/A 31 31 100 0 Insurance - Specialty | Other 500 538 39 7 0 -500 N/A 500 39 7 0 -500 N/A 1,077 Misc. Taxes & Licenses 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 250 Total Tax & Insurance Expenses 500 538 39 7 31 -469 -1,512 500 39 7 31 -469 -1,512 1,327 Other General Expenses Membership and Fees 4,400 5,006 606 12 4,338 -62 -1 4,400 606 12 4,338 -62 -1 7,095 Office Supplies 54 1,232 1,178 96 1,176 1,122 95 54 1,178 96 1,176 1,122 95 1,255 Copier and Printer Usage | Supplies 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 296 Postage Usage | Supplies 158 3 -155 -6,169 3 -155 -4,852 158 -155 -6,169 3 -155 -4,852 10 Small Office Equipment 0 51 51 100 50 50 100 0 51 100 50 50 100 51 Meetings Expenses 632 997 365 37 1,241 609 49 632 365 37 1,241 609 49 1,067 Miscellaneous General Expense 172 0 -172 N/A 0 -172 N/A 172 -172 N/A 0 -172 N/A 0 Total Other General Expenses 5,416 7,288 1,872 26 6,808 1,393 20 5,416 1,872 26 6,808 1,393 20 9,774 TOTAL GENERAL EXPENSES 5,916 7,826 1,911 24 6,839 924 14 5,916 1,911 24 6,839 924 14 11,101 TOTAL DIRECT OPERATING EXPENSES 255,952 365,991 110,039 30 208,217 -47,735 -23 255,952 110,039 30 208,217 -47,735 -23 706,186 TOTAL OPERATING EXPENSES 0 12,898 12,898 100 0 0 N/A 0 12,898 100 0 0 N/A 0 NET OPERATING INCOME 0 -12,898 12,898 100 0 0 N/A 0 12,898 100 0 0 N/A 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 44 of 19464 EXHIBIT: Budget Comparison|COCC-TM PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Talent Management Cost Center (cocc-tm) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is NET INCOME (LOSS)0 -12,898 12,898 100 0 0 N/A 0 12,898 100 0 0 N/A 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 45 of 19465 EXHIBIT: Budget Comparison|COCC-IT PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: IT -417,056 -448,025 -30,969 -7 -361,820 55,236 15 -417,056 -30,969 -7 -361,820 55,236 15 -896,050 TOTAL INTRA-Co ALLOCATIONS -417,056 -448,025 -30,969 -7 -361,820 55,236 15 -417,056 -30,969 -7 -361,820 55,236 15 -896,050 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 66,495 72,800 6,305 9 46,436 -20,059 -43 66,495 6,305 9 46,436 -20,059 -43 145,600 Medical Insurance 6,434 7,280 846 12 4,893 -1,541 -31 6,434 846 12 4,893 -1,541 -31 14,560 684 728 44 6 488 -196 -40 684 44 6 488 -196 -40 1,456 EAP Program 0 168 168 100 90 90 100 0 168 100 90 90 100 336 MERP Program Reimbursements 619 619 0 0 129 -490 -382 619 0 0 129 -490 -382 1,238 Workers Comp 829 728 -101 -14 615 -215 -35 829 -101 -14 615 -215 -35 1,456 ER Retirement Contributions 6,650 7,280 630 9 4,644 -2,006 -43 6,650 630 9 4,644 -2,006 -43 14,560 ER Payroll Taxes 1,082 1,114 32 3 753 -328 -44 1,082 32 3 753 -328 -44 2,228 ER FAMLI 300 655 355 54 122 -178 -146 300 355 54 122 -178 -146 1,310 Total Benefits Expenses 16,598 18,572 1,974 11 11,732 -4,865 -41 16,598 1,974 11 11,732 -4,865 -41 37,144 Total Labor Expenses 83,093 91,372 8,279 9 58,168 -24,925 -43 83,093 8,279 9 58,168 -24,925 -43 182,744 Other Administrative Expenses Staff Training & Conferences 1,117 2,550 1,433 56 1,461 345 24 1,117 1,433 56 1,461 345 24 3,800 Travel, Lodging & Per Diems 693 1,800 1,107 62 0 -693 N/A 693 1,107 62 0 -693 N/A 3,330 Meals - Business Partners 720 0 -720 N/A 0 -720 N/A 720 -720 N/A 0 -720 N/A 0 Total Other Administrative Expenses 2,529 4,350 1,821 42 1,461 -1,068 -73 2,529 1,821 42 1,461 -1,068 -73 7,130 Technology Expenses Managed Services - City 91,599 88,425 -3,174 -4 84,608 -6,992 -8 91,599 -3,174 -4 84,608 -6,992 -8 176,851 Managed Services - Consultants 20,905 14,000 -6,905 -49 19,967 -938 -5 20,905 -6,905 -49 19,967 -938 -5 28,000 Software License Fees 148,156 136,482 -11,675 -9 137,134 -11,023 -8 148,156 -11,675 -9 137,134 -11,023 -8 271,981 Software Support Agreements 0 6,000 6,000 100 0 0 N/A 0 6,000 100 0 0 N/A 12,000 Software Implementations 0 15,000 15,000 100 0 0 N/A 0 15,000 100 0 0 N/A 15,000 Computers and Peripherals 19,350 34,843 15,492 44 9,706 -9,644 -99 19,350 15,492 44 9,706 -9,644 -99 69,685 IT Cost Center (cocc-it) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 46 of 19466 EXHIBIT: Budget Comparison|COCC-IT PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual IT Cost Center (cocc-it) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Network Hardware 5,386 13,067 7,682 59 0 -5,386 N/A 5,386 7,682 59 0 -5,386 N/A 26,135 Telephone - Landline|Virtual 19,570 21,810 2,240 10 19,562 -8 0 19,570 2,240 10 19,562 -8 0 43,620 Cellular - Phones | Tablets 14,161 15,836 1,675 11 19,028 4,867 26 14,161 1,675 11 19,028 4,867 26 31,673 Web Hosting and Other 0 1,030 1,030 100 0 0 N/A 0 1,030 100 0 0 N/A 2,060 Total Technology Expenses 319,128 346,493 27,366 8 290,005 -29,123 -10 319,128 27,366 8 290,005 -29,123 -10 677,004 TOTAL ADMINISTRATIVE EXPENSES 404,749 442,216 37,466 8 349,634 -55,115 -16 404,749 37,466 8 349,634 -55,115 -16 866,878 GENERAL EXPENSES Insurance & Taxes Expenses Insurance - Property 0 0 0 N/A 11,460 11,460 100 0 0 N/A 11,460 11,460 100 0 Insurance - Specialty | Other 11,742 13,360 1,618 12 0 -11,742 N/A 11,742 1,618 12 0 -11,742 N/A 26,720 Total Tax & Insurance Expenses 11,742 13,360 1,618 12 11,460 -281 -2 11,742 1,618 12 11,460 -281 -2 26,720 Other General Expenses Membership and Fees 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 184 Office Supplies 469 0 -469 N/A 0 -469 N/A 469 -469 N/A 0 -469 N/A 127 Small Office Equipment 0 1,614 1,614 100 680 680 100 0 1,614 100 680 680 100 2,141 Meetings Expenses 0 0 0 N/A 45 45 100 0 0 N/A 45 45 100 0 Miscellaneous General Expense 96 0 -96 N/A 0 -96 N/A 96 -96 N/A 0 -96 N/A 0 Total Other General Expenses 565 1,614 1,050 65 725 160 22 565 1,050 65 725 160 22 2,452 TOTAL GENERAL EXPENSES 12,307 14,974 2,668 18 12,185 -121 -1 12,307 2,668 18 12,185 -121 -1 29,172 TOTAL DIRECT OPERATING EXPENSES 417,056 457,190 40,134 9 361,820 -55,236 -15 417,056 40,134 9 361,820 -55,236 -15 896,050 TOTAL OPERATING EXPENSES 0 9,165 9,165 100 0 0 N/A 0 9,165 100 0 0 N/A 0 NET OPERATING INCOME 0 -9,165 9,165 100 0 0 N/A 0 9,165 100 0 0 N/A 0 NET INCOME (LOSS)0 -9,165 9,165 100 0 0 N/A 0 9,165 100 0 0 N/A 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 47 of 19467 EXHIBIT: Budget Comparison|COCC-EXE PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: TM 14,574 20,106 5,531 28 14,001 -573 -4 14,574 5,531 28 14,001 -573 -4 40,211 Intra-Co Alloc: IT 23,748 25,511 1,763 7 24,329 582 2 23,748 1,763 7 24,329 582 2 51,022 Intra-Co Alloc: IOH -747,400 -792,909 -45,508 -6 -808,590 -61,190 -8 -747,400 -45,508 -6 -808,590 -61,190 -8 -1,585,817 TOTAL INTRA-Co ALLOCATIONS -709,078 -747,292 -38,214 -5 -770,260 -61,182 -8 -709,078 -38,214 -5 -770,260 -61,182 -8 -1,494,584 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 546,013 545,310 -703 0 556,671 10,657 2 546,013 -703 0 556,671 10,657 2 1,090,620 Medical Insurance 19,926 14,560 -5,366 -37 18,092 -1,834 -10 19,926 -5,366 -37 18,092 -1,834 -10 29,120 3,214 5,453 2,239 41 3,374 160 5 3,214 2,239 41 3,374 160 5 10,906 EAP Program 0 420 420 100 377 377 100 0 420 100 377 377 100 840 MERP Program Reimbursements 4,635 4,635 0 0 1,027 -3,608 -351 4,635 0 0 1,027 -3,608 -351 9,270 Workers Comp 7,115 5,453 -1,662 -30 7,078 -37 -1 7,115 -1,662 -30 7,078 -37 -1 10,906 ER Retirement Contributions 54,601 54,531 -70 0 55,667 1,066 2 54,601 -70 0 55,667 1,066 2 109,062 ER Payroll Taxes 8,630 8,343 -287 -3 8,648 18 0 8,630 -287 -3 8,648 18 0 16,686 ER FAMLI 2,460 4,908 2,448 50 2,049 -411 -20 2,460 2,448 50 2,049 -411 -20 9,816 Total Benefits Expenses 100,582 98,303 -2,279 -2 96,313 -4,269 -4 100,582 -2,279 -2 96,313 -4,269 -4 196,606 Total Labor Expenses 646,595 643,613 -2,982 0 652,984 6,389 1 646,595 -2,982 0 652,984 6,389 1 1,287,226 Legal Expense Legal-General Expense 3,190 5,243 2,053 39 2,902 -288 -10 3,190 2,053 39 2,902 -288 -10 11,043 Total Legal Expense 3,190 5,243 2,053 39 2,902 -288 -10 3,190 2,053 39 2,902 -288 -10 11,043 Other Administrative Expenses Staff Training & Conferences 5,747 39,498 33,751 85 32,051 26,304 82 5,747 33,751 85 32,051 26,304 82 89,796 Travel, Lodging & Per Diems 8,259 0 -8,259 N/A 2,973 -5,286 -178 8,259 -8,259 N/A 2,973 -5,286 -178 0 Mileage 1,384 466 -917 -197 288 -1,096 -381 1,384 -917 -197 288 -1,096 -381 779 Meals - Business Partners 1,226 0 -1,226 N/A 0 -1,226 N/A 1,226 -1,226 N/A 0 -1,226 N/A 0 Marketing 107 0 -107 N/A 3,788 3,681 97 107 -107 N/A 3,788 3,681 97 0 Sponsorships 0 0 0 N/A 2,500 2,500 100 0 0 N/A 2,500 2,500 100 0 Executive Cost Center (cocc-exe) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 48 of 19468 EXHIBIT: Budget Comparison|COCC-EXE PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Executive Cost Center (cocc-exe) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Employee Wellness 2,257 0 -2,257 N/A 0 -2,257 N/A 2,257 -2,257 N/A 0 -2,257 N/A 0 Miscellaneous Admin Expenses 4,045 20,600 16,555 80 20,239 16,194 80 4,045 16,555 80 20,239 16,194 80 20,600 Total Other Administrative Expenses 23,025 60,564 37,539 62 61,839 38,814 63 23,025 37,539 62 61,839 38,814 63 111,175 Technology Expenses Software License Fees 70 0 -70 N/A 0 -70 N/A 70 -70 N/A 0 -70 N/A 0 Cellular - Phones | Tablets 1,200 1,500 300 20 1,500 300 20 1,200 300 20 1,500 300 20 3,000 Total Technology Expenses 1,270 1,500 230 15 1,500 230 15 1,270 230 15 1,500 230 15 3,000 TOTAL ADMINISTRATIVE EXPENSES 674,081 710,920 36,839 5 719,225 45,144 6 674,081 36,839 5 719,225 45,144 6 1,412,444 GENERAL EXPENSES Resident Services Resident Programming 0 0 0 N/A 145 145 100 0 0 N/A 145 145 100 0 Total Resident Services 0 0 0 N/A 145 145 100 0 0 N/A 145 145 100 0 Utilities Expense Trash Removal Services 95 0 -95 N/A 0 -95 N/A 95 -95 N/A 0 -95 N/A 0 Total Utility Expenses 95 0 -95 N/A 0 -95 N/A 95 -95 N/A 0 -95 N/A 0 Maintenance Expenses Contract-Alarms 469 453 -15 -3 456 -13 -3 469 -15 -3 456 -13 -3 895 Total Contract Costs 469 453 -15 -3 456 -13 -3 469 -15 -3 456 -13 -3 895 Total Maintenance Expenses - Core 469 453 -15 -3 456 -13 -3 469 -15 -3 456 -13 -3 895 Total Maintenance Expenses 469 453 -15 -3 456 -13 -3 469 -15 -3 456 -13 -3 895 Insurance & Taxes Expenses Insurance - Property 0 0 0 N/A 21,057 21,057 100 0 0 N/A 21,057 21,057 100 0 Insurance - D&O | E&O 15,054 16,844 1,790 11 0 -15,054 N/A 15,054 1,790 11 0 -15,054 N/A 33,687 Insurance - Specialty | Other 335 4,688 4,353 93 0 -335 N/A 335 4,353 93 0 -335 N/A 9,375 Total Tax & Insurance Expenses 15,389 21,531 6,142 29 21,057 5,668 27 15,389 6,142 29 21,057 5,668 27 43,062 Other General Expenses Membership and Fees 16,269 12,500 -3,769 -30 19,710 3,441 17 16,269 -3,769 -30 19,710 3,441 17 27,750 Office Supplies 937 562 -375 -67 447 -490 -109 937 -375 -67 447 -490 -109 879 Postage Usage | Supplies 21 173 152 88 310 289 93 21 152 88 310 289 93 872 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 49 of 19469 EXHIBIT: Budget Comparison|COCC-EXE PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Executive Cost Center (cocc-exe) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Publications 265 211 -53 -25 337 72 21 265 -53 -25 337 72 21 682 Meetings Expenses 1,312 4,000 2,688 67 8,572 7,260 85 1,312 2,688 67 8,572 7,260 85 8,000 Miscellaneous General Expense 240 0 -240 N/A 0 -240 N/A 240 -240 N/A 0 -240 N/A 0 Total Other General Expenses 19,044 17,446 -1,598 -9 29,377 10,333 35 19,044 -1,598 -9 29,377 10,333 35 38,184 TOTAL GENERAL EXPENSES 34,997 39,431 4,434 11 51,034 16,037 31 34,997 4,434 11 51,034 16,037 31 82,140 TOTAL DIRECT OPERATING EXPENSES 709,078 750,351 41,273 6 770,260 61,182 8 709,078 41,273 6 770,260 61,182 8 1,494,584 TOTAL OPERATING EXPENSES 0 3,059 3,059 100 0 0 N/A 0 3,059 100 0 0 N/A 0 NET OPERATING INCOME 0 -3,059 3,059 100 0 0 N/A 0 3,059 100 0 0 N/A 0 NET INCOME (LOSS)0 -3,059 3,059 100 0 0 N/A 0 3,059 100 0 0 N/A 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 50 of 19470 EXHIBIT: Budget Comparison|COCC-COM PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: TM 5,830 8,042 2,212 28 0 -5,830 N/A 5,830 2,212 28 0 -5,830 N/A 16,084 Intra-Co Alloc: IT 9,499 10,204 705 7 0 -9,499 N/A 9,499 705 7 0 -9,499 N/A 20,409 Intra-Co Alloc: IOH -120,766 -141,939 -21,174 -15 0 120,766 N/A -120,766 -21,174 -15 0 120,766 N/A -283,878 TOTAL INTRA-Co ALLOCATIONS -105,437 -123,692 -18,256 -15 0 105,437 N/A -105,437 -18,256 -15 0 105,437 N/A -247,385 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 88,356 90,162 1,806 2 0 -88,356 N/A 88,356 1,806 2 0 -88,356 N/A 180,324 Medical Insurance 2,902 7,280 4,378 60 0 -2,902 N/A 2,902 4,378 60 0 -2,902 N/A 14,560 328 902 573 64 0 -328 N/A 328 573 64 0 -328 N/A 1,803 EAP Program 0 168 168 100 0 0 N/A 0 168 100 0 0 N/A 336 MERP Program Reimbursements 766 766 0 0 0 -766 N/A 766 0 0 0 -766 N/A 1,533 Workers Comp 743 902 159 18 0 -743 N/A 743 159 18 0 -743 N/A 1,803 ER Retirement Contributions 8,836 9,016 180 2 0 -8,836 N/A 8,836 180 2 0 -8,836 N/A 18,032 ER Payroll Taxes 1,388 1,379 -9 -1 0 -1,388 N/A 1,388 -9 -1 0 -1,388 N/A 2,759 ER FAMLI 399 812 413 51 0 -399 N/A 399 413 51 0 -399 N/A 1,623 Total Benefits Expenses 15,362 21,224 5,862 28 0 -15,362 N/A 15,362 5,862 28 0 -15,362 N/A 42,449 Total Labor Expenses 103,718 111,386 7,668 7 0 -103,718 N/A 103,718 7,668 7 0 -103,718 N/A 222,773 Other Administrative Expenses Staff Training & Conferences 0 2,114 2,114 100 0 0 N/A 0 2,114 100 0 0 N/A 3,976 Travel, Lodging & Per Diems 0 1,127 1,127 100 0 0 N/A 0 1,127 100 0 0 N/A 2,236 Marketing 339 6,850 6,511 95 0 -339 N/A 339 6,511 95 0 -339 N/A 12,450 Total Other Administrative Expenses 339 10,091 9,752 97 0 -339 N/A 339 9,752 97 0 -339 N/A 18,662 Technology Expenses Software License Fees 497 3,250 2,753 85 0 -497 N/A 497 2,753 85 0 -497 N/A 3,790 Cellular - Phones | Tablets 600 600 0 0 0 -600 N/A 600 0 0 0 -600 N/A 1,200 Total Technology Expenses 1,097 3,850 2,753 72 0 -1,097 N/A 1,097 2,753 72 0 -1,097 N/A 4,990 TOTAL ADMINISTRATIVE EXPENSES 105,154 125,327 20,174 16 0 -105,154 N/A 105,154 20,174 16 0 -105,154 N/A 246,425 Communications Cost Center (cocc-com) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 51 of 19471 EXHIBIT: Budget Comparison|COCC-COM PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Communications Cost Center (cocc-com) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is GENERAL EXPENSES Other General Expenses Office Supplies 18 150 132 88 0 -18 N/A 18 132 88 0 -18 N/A 300 Publications 168 330 162 49 0 -168 N/A 168 162 49 0 -168 N/A 660 Miscellaneous General Expense 96 0 -96 N/A 0 -96 N/A 96 -96 N/A 0 -96 N/A 0 Total Other General Expenses 283 480 197 41 0 -283 N/A 283 197 41 0 -283 N/A 960 TOTAL GENERAL EXPENSES 283 480 197 41 0 -283 N/A 283 197 41 0 -283 N/A 960 TOTAL DIRECT OPERATING EXPENSES 105,437 125,807 20,371 16 0 -105,437 N/A 105,437 20,371 16 0 -105,437 N/A 247,385 TOTAL OPERATING EXPENSES 0 2,115 2,115 100 0 0 N/A 0 2,115 100 0 0 N/A 0 NET OPERATING INCOME 0 -2,115 2,115 100 0 0 N/A 0 2,115 100 0 0 N/A 0 NET INCOME (LOSS)0 -2,115 2,115 100 0 0 N/A 0 2,115 100 0 0 N/A 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 52 of 19472 EXHIBIT: Budget Comparison|COCC-SGA PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME NET POTENTIAL RENT ADJUSTMENTS Storage Rent 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 NET POTENTIAL RENT ADJUSTMENTS 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 NET RENTAL INCOME 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 EFFECTIVE GROSS INCOME 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 TOTAL OPERATING REVENUE 0 1,800 -1,800 -100 0 0 N/A 0 -1,800 -100 0 0 N/A 3,600 OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: SGA -135,273 -177,120 -41,847 -24 0 135,273 N/A -135,273 -41,847 -24 0 135,273 N/A -354,239 Intra-Co Billings 10,098 10,100 2 0 0 -10,098 N/A 10,098 2 0 0 -10,098 N/A 20,200 TOTAL INTRA-Co ALLOCATIONS -125,175 -167,020 -41,845 -25 0 125,175 N/A -125,175 -41,845 -25 0 125,175 N/A -334,039 DIRECT OPERATING EXPENSES ADMINISTRATIVE Other Administrative Expenses Staff Training & Conferences 0 0 0 N/A 275 275 100 0 0 N/A 275 275 100 0 Auditing & Tax Services 0 0 0 N/A 10,874 10,874 100 0 0 N/A 10,874 10,874 100 0 Parking Fees 0 0 0 N/A 440 440 100 0 0 N/A 440 440 100 0 Miscellaneous Admin Expenses 81 727 647 89 0 -81 N/A 81 647 89 0 -81 N/A 1,455 Total Other Administrative Expenses 81 727 647 89 11,588 11,508 99 81 647 89 11,588 11,508 99 1,455 Technology Expenses Computers and Peripherals 2,741 0 -2,741 N/A 0 -2,741 N/A 2,741 -2,741 N/A 0 -2,741 N/A 0 Cable Services 180 0 -180 N/A 211 31 15 180 -180 N/A 211 31 15 0 Telephone - Landline|Virtual 410 0 -410 N/A 489 78 16 410 -410 N/A 489 78 16 0 Internet Services 1,589 0 -1,589 N/A 1,429 -160 -11 1,589 -1,589 N/A 1,429 -160 -11 0 Total Technology Expenses 4,920 0 -4,920 N/A 2,128 -2,792 -131 4,920 -4,920 N/A 2,128 -2,792 -131 0 COCC - Sales, General, Administrative (.coccsga) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 53 of 19473 EXHIBIT: Budget Comparison|COCC-SGA PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual COCC - Sales, General, Administrative (.coccsga) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Compliance Expenses Compliance Services - Internal 0 49 49 100 0 0 N/A 0 49 100 0 0 N/A 98 Total Compliance Expenses 0 49 49 100 0 0 N/A 0 49 100 0 0 N/A 98 TOTAL ADMINISTRATIVE EXPENSES 5,001 777 -4,224 -544 13,717 8,716 64 5,001 -4,224 -544 13,717 8,716 64 1,553 GENERAL EXPENSES Utilities Expense Water 1,787 3,426 1,639 48 2,388 600 25 1,787 1,639 48 2,388 600 25 6,722 Electricity 7,043 7,649 606 8 6,807 -236 -3 7,043 606 8 6,807 -236 -3 15,298 Gas 2,622 3,491 869 25 2,774 151 5 2,622 869 25 2,774 151 5 6,317 Trash Removal Services 3,590 3,938 348 9 3,867 277 7 3,590 348 9 3,867 277 7 7,877 Total Utility Expenses 15,043 18,504 3,462 19 15,836 793 5 15,043 3,462 19 15,836 793 5 36,214 Maintenance Expenses Equipment Rentals 1,459 1,057 -402 -38 1,764 305 17 1,459 -402 -38 1,764 305 17 2,114 Total General Maint Expense 1,459 1,057 -402 -38 1,764 305 17 1,459 -402 -38 1,764 305 17 2,114 Supplies-Grounds 65 0 -65 N/A 0 -65 N/A 65 -65 N/A 0 -65 N/A 0 Supplies-Appliances 0 0 0 N/A 90 90 100 0 0 N/A 90 90 100 0 Supplies-Electrical 60 0 -60 N/A 0 -60 N/A 60 -60 N/A 0 -60 N/A 0 Supplies-Pest Control 46 0 -46 N/A 3 -43 -1,233 46 -46 N/A 3 -43 -1,233 0 Supplies-Janitorial 688 0 -688 N/A 912 223 24 688 -688 N/A 912 223 24 0 Supplies-General 0 0 0 N/A 133 133 100 0 0 N/A 133 133 100 0 Supplies-Plumbing 0 0 0 N/A 44 44 100 0 0 N/A 44 44 100 0 Supplies-HVAC 96 0 -96 N/A 0 -96 N/A 96 -96 N/A 0 -96 N/A 0 Supplies-Doors 0 0 0 N/A 101 101 100 0 0 N/A 101 101 100 0 Total Supplies | Materials 955 0 -955 N/A 1,283 328 26 955 -955 N/A 1,283 328 26 0 Contract-Work Orders - Internal 2,274 5,377 3,103 58 3,053 780 26 2,274 3,103 58 3,053 780 26 10,754 Contract-Preventative - Internal 4,998 100 -4,898 -4,897 2,500 -2,498 -100 4,998 -4,898 -4,897 2,500 -2,498 -100 200 Contract-Painting 0 3,500 3,500 100 3,848 3,848 100 0 3,500 100 3,848 3,848 100 3,500 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 54 of 19474 EXHIBIT: Budget Comparison|COCC-SGA PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual COCC - Sales, General, Administrative (.coccsga) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Contract-System Services 2,315 2,229 -87 -4 1,724 -591 -34 2,315 -87 -4 1,724 -591 -34 4,037 Contract-Carpet Cleaning 0 500 500 100 749 749 100 0 500 100 749 749 100 1,000 Contract-Electrical 0 0 0 N/A 470 470 100 0 0 N/A 470 470 100 0 Contract-Pest Control 235 0 -235 N/A 0 -235 N/A 235 -235 N/A 0 -235 N/A 0 Contract-Grounds 11,924 18,244 6,321 35 9,026 -2,898 -32 11,924 6,321 35 9,026 -2,898 -32 35,586 Contract-Janitorial 10,743 14,844 4,101 28 10,754 11 0 10,743 4,101 28 10,754 11 0 28,911 Contract-Plumbing 305 255 -50 -20 518 213 41 305 -50 -20 518 213 41 1,009 Contract-HVAC 653 6,697 6,044 90 6,746 6,093 90 653 6,044 90 6,746 6,093 90 13,394 Contract-General 213 2,043 1,830 90 1,395 1,182 85 213 1,830 90 1,395 1,182 85 4,087 Total Contract Costs 33,660 53,789 20,129 37 40,784 7,124 17 33,660 20,129 37 40,784 7,124 17 102,478 Total Maintenance Expenses - Core 36,074 54,846 18,772 34 43,830 7,756 18 36,074 18,772 34 43,830 7,756 18 104,592 Total Maintenance Expenses 36,074 54,846 18,772 34 43,830 7,756 18 36,074 18,772 34 43,830 7,756 18 104,592 DNU-Facility Costs DNU-Total Facility Costs 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 0 Vehicle-Fuel 0 0 0 N/A 203 203 100 0 0 N/A 203 203 100 0 Vehicle-Repairs 17 0 -17 N/A 406 389 96 17 -17 N/A 406 389 96 0 Vehicle-Fixed Fee Maintenance 0 0 0 N/A 29 29 100 0 0 N/A 29 29 100 0 Total Vehicle Expenses 17 0 -17 N/A 638 621 97 17 -17 N/A 638 621 97 0 Insurance & Taxes Expenses Insurance - Property 9,390 12,132 2,742 23 19,748 10,358 52 9,390 2,742 23 19,748 10,358 52 24,264 Insurance - Liability 1,712 6,616 4,903 74 0 -1,712 N/A 1,712 4,903 74 0 -1,712 N/A 13,231 Insurance - Umbrella 0 158 158 100 0 0 N/A 0 158 100 0 0 N/A 315 Insurance - Specialty | Other 8,021 8,804 783 9 0 -8,021 N/A 8,021 783 9 0 -8,021 N/A 17,608 Total Tax & Insurance Expenses 19,123 27,709 8,586 31 19,748 625 3 19,123 8,586 31 19,748 625 3 55,418 Other General Expenses Office Supplies 4,937 8,413 3,476 41 7,993 3,056 38 4,937 3,476 41 7,993 3,056 38 16,826 Copier and Printer Usage | Supplies 6,324 5,833 -492 -8 5,345 -980 -18 6,324 -492 -8 5,345 -980 -18 11,665 Publications 0 51 51 100 0 0 N/A 0 51 100 0 0 N/A 102 Small Office Equipment 728 300 -428 -143 0 -728 N/A 728 -428 -143 0 -728 N/A 600 Miscellaneous General Expense 764 0 -764 N/A 0 -764 N/A 764 -764 N/A 0 -764 N/A 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 55 of 19475 EXHIBIT: Budget Comparison|COCC-SGA PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual COCC - Sales, General, Administrative (.coccsga) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Other General Expenses 12,753 14,596 1,844 13 13,337 585 4 12,753 1,844 13 13,337 585 4 29,193 TOTAL GENERAL EXPENSES 83,010 115,656 32,646 28 93,389 10,379 11 83,010 32,646 28 93,389 10,379 11 225,416 TOTAL DIRECT OPERATING EXPENSES 88,011 116,432 28,421 24 107,106 19,095 18 88,011 28,421 24 107,106 19,095 18 226,969 TOTAL OPERATING EXPENSES -37,163 -50,587 -13,424 -27 107,106 144,269 135 -37,163 -13,424 -27 107,106 144,269 135 -107,070 NET OPERATING INCOME 37,163 52,387 -15,224 -29 -107,106 144,269 135 37,163 -15,224 -29 -107,106 144,269 135 110,670 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Hard Loans 10,748 13,498 2,750 20 14,376 3,628 25 10,748 2,750 20 14,376 3,628 25 26,996 10,748 13,498 2,750 20 14,376 3,628 25 10,748 2,750 20 14,376 3,628 25 26,996 Depreciation - Buildings 363 9,182 8,819 96 0 -363 N/A 363 8,819 96 0 -363 N/A 18,364 5,655 4,896 -759 -16 4,896 -759 -16 5,655 -759 -16 4,896 -759 -16 9,792 Depreciation - Improvements 20,397 27,759 7,362 27 20,397 0 0 20,397 7,362 27 20,397 0 0 55,519 26,415 41,837 15,422 37 25,293 -1,123 -4 26,415 15,422 37 25,293 -1,123 -4 83,674 TOTAL NON OPERATING EXPENSES 37,163 55,335 18,171 33 39,669 2,505 6 37,163 18,171 33 39,669 2,505 6 110,670 NET NON-OPERATING INCOME(EXPENS -37,163 -55,335 18,171 33 -39,669 2,505 6 -37,163 18,171 33 -39,669 2,505 6 -110,670 NET INCOME (LOSS)0 -2,948 2,948 100 -146,774 146,774 100 0 2,948 100 -146,774 146,774 100 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 56 of 19476 EXHIBIT: Business Unit Summary dept-mtc dept-pm dept-ra dept-rs dept-ste dept-dev HC-GF Total OPERATING REVENUES EFFECTIVE GROSS INCOME 0 0 0 0 0 0 5,316 5,316 TOTAL GRANT REVENUE 0 0 0 402,888 0 0 0 402,888 TOTAL AGENCY REVENUE 698,552 1,395,575 967,882 575,683 911,735 150,000 129,737 4,829,163 TOTAL OTHER INCOME 812 0 0 1 0 59,173 96,325 156,311 TOTAL OPERATING REVENUE 699,363 1,395,575 967,882 978,572 911,735 209,173 231,379 5,393,679 OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: FIN 65,787 316,974 89,710 47,845 0 77,748 0 598,065 Intra-Co Alloc: TM 40,808 8,745 37,310 53,077 49,553 17,489 0 206,982 Intra-Co Alloc: IT 66,494 14,249 60,795 86,485 80,743 28,497 0 337,263 Intra-Co Alloc: IOH 34,123 292,305 119,732 88,024 0 333,982 0 868,166 Intra-Co Alloc: SGA 6,764 67,636 13,527 6,764 0 40,582 0 135,273 Intra-Co Billings -108,750 92,634 -11,838 -24,222 0 42,078 0 -10,098 TOTAL INTRA-Co ALLOCATIONS 105,226 792,543 309,236 257,973 130,296 540,377 0 2,135,650 ADMINISTRATIVE Total Labor Expenses 528,491 156,922 636,822 661,034 802,176 399,011 0 3,184,455 Total Legal Expense 0 3,548 0 0 0 745 795 5,088 Total Other Administrative Expenses 546 21,917 9,905 1,441 0 5,312 391 39,512 Total Technology Expenses 1,800 600 3,000 4,381 5,350 1,750 0 16,881 Total Compliance Expenses 0 38 0 0 0 0 0 38 TOTAL ADMINISTRATIVE EXPENSES 530,836 183,024 649,726 666,857 807,526 406,818 1,186 3,245,973 GENERAL EXPENSES Total Resident Services 0 0 0 28,071 0 140 0 28,211 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 57 of 19477 EXHIBIT: Business Unit Summary dept-mtc dept-pm dept-ra dept-rs dept-ste dept-dev HC-GF Total Total Utility Expenses 104 0 0 0 0 22 1,081 1,207 Total Maintenance Expenses 13,574 1,016 0 0 0 0 6,935 21,525 Total Vehicle Expenses 10,639 87 631 0 0 0 0 11,357 Total Tax & Insurance Expenses 10,372 0 690 2,967 747 690 2,527 17,994 Total Other General Expenses 2,867 3,030 7,599 2,013 955 1,349 253 18,065 TOTAL GENERAL EXPENSES 37,557 4,133 8,920 33,051 1,702 2,201 10,796 98,359 TOTAL DIRECT OPERATING EXPENSES 568,393 187,157 658,646 699,907 809,228 409,019 11,982 3,344,332 TOTAL OPERATING EXPENSES 673,619 979,700 967,882 957,880 939,523 949,396 11,982 5,479,982 NET OPERATING INCOME 25,744 415,875 0 20,691 -27,789 -740,223 219,397 -86,304 NON-OPERATING INCOME | EXPENSE TOTAL NON OPERATING INCOME 0 0 0 0 0 245,038 579,040 824,078 TOTAL NON OPERATING EXPENSES 24,506 0 0 0 0 0 156,583 181,088 NET NON-OPERATING INCOME(EXPENSE)-24,506 0 0 0 0 245,038 422,458 642,990 NET INCOME (LOSS)1,239 415,875 0 20,691 -27,789 -495,185 641,855 556,686 BUDGETS dept-mtc dept-pm dept-ra dept-rs dept-ste dept-dev HC-GF Total OPERATING REVENUES EFFECTIVE GROSS INCOME 0 0 0 0 0 0 6,462 6,462 TOTAL GRANT REVENUE 0 0 0 377,532 0 0 0 377,532 TOTAL AGENCY REVENUE 688,790 1,407,555 873,296 #VALUE!918,615 0 115,250 4,480,767 TOTAL OTHER INCOME 0 0 0 0 0 90,000 15,054 105,054 TOTAL OPERATING REVENUE 688,790 1,407,555 873,296 854,793 918,615 90,000 136,767 4,969,815 INTRA-CO ALLOCATIONS Intra-Co Alloc: FIN 58,803 283,324 80,186 42,766 0 69,495 0 534,573 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 58 of 19478 EXHIBIT: Business Unit Summary dept-mtc dept-pm dept-ra dept-rs dept-ste dept-dev HC-GF Total Intra-Co Alloc: TM 25,321 5,426 23,151 32,929 30,747 10,852 0 128,426 Intra-Co Alloc: IT 61,557 13,191 56,281 80,059 74,748 26,382 0 312,218 Intra-Co Alloc: IOH 31,561 268,426 110,714 81,144 0 309,638 0 801,484 Intra-Co Alloc: SGA 6,442 78,594 2,258 -4,185 0 10,316 0 93,426 Intra-Co Billings -108,749 92,631 -11,836 -24,220 0 42,078 0 -10,095 TOTAL INTRA-Co ALLOCATIONS 74,936 741,592 260,754 208,494 105,495 468,761 0 1,860,032 Total Labor Expenses 494,820 98,729 648,130 532,543 845,711 384,024 0 3,003,957 Total Legal Expense 0 6,114 0 0 0 729 1,590 8,433 Total Other Administrative Expenses -4,639 26,229 4,368 -9,072 -142 -6,146 781 11,380 Total Technology Expenses 1,800 0 2,850 1,836 5,900 1,100 0 13,486 Total Compliance Expenses 0 76 0 0 0 0 0 76 TOTAL ADMINISTRATIVE EXPENSES 491,981 131,148 655,348 525,307 851,469 379,707 2,371 3,037,331 Total Resident Services 0 0 0 13,585 0 280 0 13,865 Total Utility Expenses 208 0 0 0 0 43 843 1,094 Total Maintenance Expenses 19,979 -1,159 -100 -299 0 0 6,193 24,614 Total Vehicle Expenses -5,448 174 -115 -29 0 -702 0 -6,119 Total Tax & Insurance Expenses 6,515 0 646 2,558 1,494 646 1,888 13,747 Total Other General Expenses 3,449 -7,631 7,080 3,884 1,910 848 182 9,722 TOTAL GENERAL EXPENSES 24,703 -8,616 7,511 19,700 3,404 1,115 9,105 56,923 TOTAL DIRECT OPERATING EXPENSES 516,684 122,532 662,859 545,006 854,873 380,822 11,477 3,094,254 TOTAL OPERATING EXPENSES 591,620 864,124 923,613 753,501 960,368 849,583 11,477 4,954,285 NET OPERATING INCOME -66,829 312,279 -138,855 -307,467 -63 -959,210 124,280 -1,035,864 TOTAL NON OPERATING INCOME 0 0 0 0 0 236,894 743,373 980,267 TOTAL NON OPERATING EXPENSES 43,949 0 0 0 0 -250 162,043 205,742 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 59 of 19479 EXHIBIT: Business Unit Summary dept-mtc dept-pm dept-ra dept-rs dept-ste dept-dev HC-GF Total NET NON-OPERATING INCOME(EXPENSE)-5,062 0 0 0 0 236,644 592,251 823,833 NET INCOME (LOSS)-71,891 312,279 -138,855 -307,467 -63 -722,566 716,531 -212,032 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 60 of 19480 EXHIBIT: BU|Combined PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME CAM Estimate 2,658.21 3,231.24 -573.03 -17.73 2,615.76 42.45 1.62 5,316.42 -1,146.06 -17.73 4,359.60 956.82 21.95 12,924.96 NET POTENTIAL RENT 2,658.21 3,231.24 -573.03 -17.73 2,615.76 42.45 1.62 5,316.42 -1,146.06 -17.73 4,359.60 956.82 21.95 12,924.96 NET RENTAL INCOME 2,658.21 3,231.24 -573.03 -17.73 2,615.76 42.45 1.62 5,316.42 -1,146.06 -17.73 4,359.60 956.82 21.95 12,924.96 EFFECTIVE GROSS INCOME 2,658.21 3,231.24 -573.03 -17.73 2,615.76 42.45 1.62 5,316.42 -1,146.06 -17.73 4,359.60 956.82 21.95 12,924.96 GRANT REVENUE Grants - Family Self Sufficiency 64,843.62 63,717.00 1,126.62 1.77 63,642.39 1,201.23 1.89 122,212.55 -5,221.45 -4.10 117,216.98 4,995.57 4.26 254,868.00 Grants - HUD CoC 152,273.99 121,716.00 30,557.99 25.11 151,861.02 412.97 0.27 280,675.42 37,243.42 15.30 244,956.21 35,719.21 14.58 486,864.00 Grants - Non Gov't 0.00 6,666.00 -6,666.00 -100.00 2,082.62 -2,082.62 -100.00 0.00 -6,666.00 -100.00 4,521.82 -4,521.82 -100.00 19,999.00 TOTAL GRANT REVENUE 217,117.61 192,099.00 25,018.61 13.02 217,586.03 -468.42 -0.22 402,887.97 25,355.97 6.72 366,695.01 36,192.96 9.87 761,731.00 AGENCY REVENUE Property Management Fee Revenue 354,416.06 346,915.65 7,500.41 2.16 315,922.32 38,493.74 12.18 685,845.16 -7,986.11 -1.15 624,801.59 61,043.57 9.77 1,387,662.57 Accounting Fee Revenue 243,472.67 241,568.85 1,903.82 0.79 219,397.32 24,075.35 10.97 474,048.33 -9,089.39 -1.88 435,187.39 38,860.94 8.93 966,275.42 Asset Management Revenue 108,811.90 62,500.00 46,311.90 74.10 0.00 108,811.90 N/A 167,620.57 42,620.55 34.10 0.00 167,620.57 N/A 250,000.00 Site Labor Cost Recapture 412,588.45 415,938.36 -3,349.91 -0.81 430,896.33 -18,307.88 -4.25 825,868.60 -6,008.14 -0.72 861,792.66 -35,924.06 -4.17 1,663,753.46 Technology Management Cost Recapture 42,837.00 43,369.25 -532.25 -1.23 45,454.35 -2,617.35 -5.76 85,866.00 -872.48 -1.01 90,908.70 -5,042.70 -5.55 173,477.00 Insurance Administration Fee Revenue 4,639.61 4,300.00 339.61 7.90 0.00 4,639.61 N/A 9,800.75 1,200.73 13.96 0.00 9,800.75 N/A 17,200.00 Administrative OH Cost Recapture 58,564.61 39,375.00 19,189.61 48.74 0.00 58,564.61 N/A 93,237.33 14,487.33 18.40 0.00 93,237.33 N/A 157,500.00 Board Administration Fee Revenue 18,249.99 18,250.00 -0.01 0.00 15,750.00 2,499.99 15.87 36,499.98 -0.04 0.00 31,500.00 4,999.98 15.87 73,000.00 Voucher Management Fees Earned 462,970.56 402,748.74 60,221.82 14.95 444,539.58 18,430.98 4.15 892,740.33 87,242.81 10.83 864,241.85 28,498.48 3.30 1,610,995.00 Voucher DOH Management Fees Earned 38,968.07 33,899.25 5,068.82 14.95 0.00 38,968.07 N/A 75,141.64 7,343.14 10.83 0.00 75,141.64 N/A 135,597.00 Resident Services Fee Income 306,427.00 326,736.54 -20,309.54 -6.22 342,618.98 -36,191.98 -10.56 632,352.00 -21,121.08 -3.23 701,062.75 -68,710.75 -9.80 1,306,946.16 Credits: Mission-Driven Support -19,500.00 -88,556.04 69,056.04 77.98 -91,781.00 72,281.00 78.75 -58,500.00 118,612.08 66.97 -172,332.00 113,832.00 66.05 -354,224.16 Compliance Services Revenue 29,073.00 29,422.75 -349.75 -1.19 64,271.32 -35,198.32 -54.77 58,260.00 -585.52 -1.00 130,545.01 -72,285.01 -55.37 117,691.00 Developer Fee Earned or Collected 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 1,200,124.66 Acquisition and Disposition Fees 150,000.00 0.00 150,000.00 N/A 0.00 150,000.00 N/A 150,000.00 150,000.00 N/A 0.00 150,000.00 N/A 250,000.00 Work Order Revenue 186,857.75 162,616.75 24,241.00 14.91 253,207.75 -66,350.00 -26.20 352,504.95 27,271.43 8.39 502,829.50 -150,324.55 -29.90 650,467.00 Maintenance - Preventative Contracts 70,222.68 71,600.00 -1,377.32 -1.92 131,627.21 -61,404.53 -46.65 144,813.01 1,613.03 1.13 270,040.19 -125,227.18 -46.37 286,400.00 Maint Project Mgmt Revenue 32,396.61 48,582.75 -16,186.14 -33.32 12,087.45 20,309.16 168.02 69,384.05 -27,781.45 -28.59 13,970.32 55,413.73 396.65 194,331.00 HC Business Units (.hcbunit) Budget Comparison Period = Apr 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 61 of 19481 EXHIBIT: BU|Combined PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Business Units (.hcbunit) Budget Comparison Period = Apr 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Maintenance Purchasing Cost Recapture 10,671.36 16,715.25 -6,043.89 -36.16 0.00 10,671.36 N/A 17,099.59 -16,330.91 -48.85 0.00 17,099.59 N/A 66,861.00 Unit Turn Revenue 70,295.00 44,880.00 25,415.00 56.63 0.00 70,295.00 N/A 114,750.00 24,990.00 27.84 0.00 114,750.00 N/A 179,520.00 Capital Asset Management Revenue 0.00 19,070.10 -19,070.10 -100.00 0.00 0.00 N/A 0.00 -38,140.19 -100.00 0.00 0.00 N/A 76,280.39 RS Clinical Billing Revenue 1,770.22 450.00 1,320.22 293.38 0.00 1,770.22 N/A 1,830.78 930.78 103.42 482.11 1,348.67 279.74 1,800.00 TOTAL AGENCY REVENUE 2,583,732.54 2,240,383.20 343,349.34 15.33 2,183,991.61 399,740.93 18.30 4,829,163.07 348,396.57 7.78 4,355,030.07 474,133.00 10.89 10,411,657.50 OTHER INCOME Miscellaneous Income 27,814.19 0.00 27,814.19 N/A 19,413.15 8,401.04 43.28 41,825.90 41,825.90 N/A 23,309.83 18,516.07 79.43 52,796.58 Bond Issuance Fees 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 138,750.00 Bond Monitoring Fees 13,200.00 0.00 13,200.00 N/A 0.00 13,200.00 N/A 13,200.00 13,200.00 N/A 0.00 13,200.00 N/A 0.00 Special Limited Partner Fees 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 250,000.00 -250,000.00 -100.00 0.00 Interest Income - Unrestricted 50,309.83 52,527.00 -2,217.17 -4.22 119,786.80 -69,476.97 -58.00 101,285.36 -3,768.64 -3.59 245,817.79 -144,532.43 -58.80 210,084.00 TOTAL OTHER INCOME 91,324.02 52,527.00 38,797.02 73.86 139,199.95 -47,875.93 -34.39 156,311.26 51,257.26 48.79 519,127.62 -362,816.36 -69.89 401,630.58 TOTAL OPERATING REVENUE 2,894,832.38 2,488,240.44 406,591.94 16.34 2,543,393.35 351,439.03 13.82 5,393,678.72 423,863.74 8.53 5,245,212.30 148,466.42 2.83 ######## OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: FIN 323,435.07 330,777.71 7,342.64 2.22 278,671.88 -44,763.19 -16.06 598,064.51 63,491.04 9.60 507,647.16 -90,417.35 -17.81 1,323,110.99 Intra-Co Alloc: TM 111,160.66 142,769.25 31,608.59 22.14 83,449.35 -27,711.31 -33.21 206,982.19 78,556.36 27.51 175,548.23 -31,433.96 -17.91 571,076.99 Intra-Co Alloc: IT 180,525.23 181,153.87 628.64 0.35 168,289.14 -12,236.09 -7.27 337,263.05 25,044.72 6.91 305,051.06 -32,211.99 -10.56 724,615.67 Intra-Co Alloc: IOH 443,168.47 467,423.88 24,255.41 5.19 408,558.30 -34,610.17 -8.47 868,165.78 66,681.92 7.13 808,590.07 -59,575.71 -7.37 1,869,695.58 Intra-Co Alloc: SGA 64,263.04 88,559.79 24,296.75 27.44 94,699.30 30,436.26 32.14 135,272.67 41,846.89 23.63 146,774.45 11,501.78 7.84 354,239.26 Intra-Co Billings -5,049.00 -5,050.25 -1.25 -0.02 0.00 5,049.00 N/A -10,098.00 -2.54 -0.03 0.00 10,098.00 N/A -20,201.00 Intra-Segment Alloc: RS Admin 0.00 -0.01 -0.01 -100.00 0.00 0.00 N/A 0.00 -0.02 -100.00 0.00 0.00 N/A -0.02 TOTAL INTRA-Co ALLOCATIONS 1,117,503.47 1,205,634.24 88,130.77 7.31 1,033,667.97 -83,835.50 -8.11 2,135,650.20 275,618.37 11.43 1,943,610.97 -192,039.23 -9.88 4,822,537.47 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 1,281,578.93 1,354,391.85 72,812.92 5.38 1,319,485.95 37,907.02 2.87 2,601,594.65 103,532.95 3.83 2,693,559.79 91,965.14 3.41 5,413,911.40 Medical Insurance 85,814.59 120,120.00 34,305.41 28.56 109,162.72 23,348.13 21.39 189,199.60 51,040.52 21.25 192,413.81 3,214.21 1.67 480,480.00 14,395.09 13,534.50 -860.59 -6.36 19,779.63 5,384.54 27.22 29,640.18 -2,571.18 -9.50 29,106.15 -534.03 -1.83 54,138.00 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 62 of 19482 EXHIBIT: BU|Combined PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Business Units (.hcbunit) Budget Comparison Period = Apr 2025-Jun 2025 Book = Accrual ; Tree = ysi_is EAP Program 0.00 2,980.75 2,980.75 100.00 2,358.30 2,358.30 100.00 0.00 5,961.52 100.00 5,329.08 5,329.08 100.00 11,923.00 MERP Program Reimbursements 11,504.52 11,504.50 -0.02 0.00 2,689.86 -8,814.66 -327.70 23,009.04 -0.02 0.00 5,379.72 -17,629.32 -327.70 46,018.00 Workers Comp 16,022.30 13,534.90 -2,487.40 -18.38 17,597.88 1,575.58 8.95 32,117.72 -5,048.02 -18.65 33,351.51 1,233.79 3.70 54,139.60 ER Retirement Contributions 132,511.68 135,347.75 2,836.07 2.10 138,602.91 6,091.23 4.39 250,472.92 20,222.68 7.47 259,364.82 8,891.90 3.43 541,391.00 ER Payroll Taxes 25,524.42 20,708.25 -4,816.17 -23.26 25,178.92 -345.50 -1.37 46,794.70 -5,378.38 -12.99 46,957.64 162.94 0.35 82,833.00 ER FAMLI 11,625.80 12,181.75 555.95 4.56 9,948.26 -1,677.54 -16.86 11,625.80 12,737.66 52.28 9,948.26 -1,677.54 -16.86 48,727.00 Total Benefits Expenses 297,398.40 329,912.40 32,514.00 9.86 325,318.48 27,920.08 8.58 582,859.96 76,964.78 11.66 581,850.99 -1,008.97 -0.17 1,319,649.60 Total Labor Expenses 1,578,977.33 1,684,304.25 105,326.92 6.25 1,644,804.43 65,827.10 4.00 3,184,454.61 180,497.73 5.36 3,275,410.78 90,956.17 2.78 6,733,561.00 Legal Expense Legal-Criminal Background Checks 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 25.45 Legal-Tenant Screening 0.00 15.30 15.30 100.00 0.00 0.00 N/A 0.00 15.30 100.00 0.00 0.00 N/A 45.94 Legal-General Expense 1,750.00 0.00 -1,750.00 N/A 1,255.00 -495.00 -39.44 5,087.50 -3,360.31 -194.55 2,945.00 -2,142.50 -72.75 3,474.82 Total Legal Expense 1,750.00 15.30 -1,734.70 -11,337.91 1,255.00 -495.00 -39.44 5,087.50 -3,345.01 -191.97 2,945.00 -2,142.50 -72.75 3,546.21 Other Administrative Expenses Staff Training & Conferences 4,789.41 23,892.00 19,102.59 79.95 39,977.12 35,187.71 88.02 8,901.90 25,906.80 74.43 51,241.43 42,339.53 82.63 62,767.79 Education Assistance 0.00 0.00 0.00 N/A 2,250.00 2,250.00 100.00 0.00 0.00 N/A 2,250.00 2,250.00 100.00 0.00 Travel, Lodging & Per Diems 4,840.55 6,860.15 2,019.60 29.44 1,299.35 -3,541.20 -272.54 6,116.69 7,122.21 53.80 1,299.35 -4,817.34 -370.75 25,162.26 Mileage 632.02 3,478.88 2,846.86 81.83 3,113.86 2,481.84 79.70 898.95 4,687.12 83.91 4,242.95 3,344.00 78.81 13,592.83 Meals - Business Partners 0.00 0.00 0.00 N/A 0.00 0.00 N/A 3,124.56 -3,124.56 N/A 0.00 -3,124.56 N/A 0.00 Marketing 0.00 888.75 888.75 100.00 0.00 0.00 N/A 0.00 1,974.73 100.00 84.11 84.11 100.00 2,637.16 Resident Relocation 0.00 0.00 0.00 N/A 200.00 200.00 100.00 0.00 0.00 N/A 200.00 200.00 100.00 0.00 Parking Fees 140.00 600.00 460.00 76.67 0.00 -140.00 N/A 491.00 709.00 59.08 0.00 -491.00 N/A 2,400.00 Consultants 1,767.18 4,875.00 3,107.82 63.75 5,000.00 3,232.82 64.66 3,360.18 6,389.82 65.54 6,950.14 3,589.96 51.65 19,500.00 Security Services 87.91 0.00 -87.91 N/A 72.59 -15.32 -21.10 192.22 -192.22 N/A 311.77 119.55 38.35 0.00 Advertising 0.00 75.00 75.00 100.00 0.00 0.00 N/A 0.00 75.00 100.00 0.00 0.00 N/A 150.00 Recruiting 0.00 125.01 125.01 100.00 0.00 0.00 N/A 0.00 250.02 100.00 0.00 0.00 N/A 500.04 Miscellaneous Admin Expenses 78.80 635.01 556.21 87.59 3,053.50 2,974.70 97.42 16,426.15 -15,666.13 -2,061.28 15,984.37 -441.78 -2.76 1,520.04 Total Other Administrative Expenses 12,335.87 41,429.80 29,093.93 70.22 54,966.42 42,630.55 77.56 39,511.65 28,131.79 41.59 82,564.12 43,052.47 52.14 128,230.12 Technology Expenses Software License Fees 1,155.18 2,862.26 1,707.08 59.64 2,235.35 1,080.17 48.32 3,422.73 2,303.79 40.23 4,415.69 992.96 22.49 11,447.00 Telephone - Landline|Virtual 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A -150.00 -150.00 -100.00 0.00 Internet Services 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 100.00 100.00 100.00 0.00 Cellular - Phones | Tablets 6,708.52 7,275.00 566.48 7.79 6,800.00 91.48 1.35 13,458.52 1,091.48 7.50 14,453.75 995.23 6.89 28,950.00 Total Technology Expenses 7,863.70 10,137.26 2,273.56 22.43 9,035.35 1,171.65 12.97 16,881.25 3,395.27 16.74 18,819.44 1,938.19 10.30 40,397.00 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 63 of 19483 EXHIBIT: BU|Combined PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Business Units (.hcbunit) Budget Comparison Period = Apr 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Compliance Expenses Compliance Services - Consultants 7.68 0.00 -7.68 N/A 5,249.39 5,241.71 99.85 37.76 -37.76 N/A 5,249.39 5,211.63 99.28 0.00 Total Compliance Expenses 7.68 0.00 -7.68 N/A 5,249.39 5,241.71 99.85 37.76 -37.76 N/A 5,249.39 5,211.63 99.28 0.00 TOTAL ADMINISTRATIVE EXPENSES 1,600,934.58 1,735,886.61 134,952.03 7.77 1,715,310.59 114,376.01 6.67 3,245,972.77 208,642.02 6.04 3,384,988.73 139,015.96 4.11 6,905,734.33 GENERAL EXPENSES Resident Services Resident Programming 784.53 8,596.03 7,811.50 90.87 2,591.44 1,806.91 69.73 1,427.59 14,949.47 91.28 5,116.95 3,689.36 72.10 31,749.65 RS Client Assistance 1,004.94 1,902.00 897.06 47.16 2,914.25 1,909.31 65.52 1,550.35 2,253.65 59.24 5,174.36 3,624.01 70.04 7,600.00 Resident Services - External 18,393.20 11,188.00 -7,205.20 -64.40 54,154.93 35,761.73 66.04 25,233.20 -2,857.18 -12.77 79,898.63 54,665.43 68.42 44,752.00 Total Resident Services 20,182.67 21,686.03 1,503.36 6.93 59,660.62 39,477.95 66.17 28,211.14 14,345.94 33.71 90,189.94 61,978.80 68.72 84,101.65 Utilities Expense Water 447.40 783.47 336.07 42.90 777.44 330.04 42.45 1,081.00 317.53 22.70 1,379.27 298.27 21.63 2,495.13 Electricity 0.00 -79.03 -79.03 -100.00 0.00 0.00 N/A 0.00 -79.03 -100.00 0.00 0.00 N/A -79.03 Trash Removal - Regular 61.95 0.00 -61.95 N/A 0.00 -61.95 N/A 125.65 -125.65 N/A 81.65 -44.00 -53.89 0.01 Total Utility Expenses 509.35 704.44 195.09 27.69 777.44 268.09 34.48 1,206.65 112.85 8.55 1,460.92 254.27 17.40 2,416.11 Maintenance Expenses Maintenance - On Call 2,251.42 125.01 -2,126.41 -1,700.99 4,187.10 1,935.68 46.23 6,772.96 -6,522.94 -2,608.97 8,854.91 2,081.95 23.51 500.04 Maintenance - Uniforms 2,951.31 50.01 -2,901.30 -5,801.44 3,954.28 1,002.97 25.36 3,226.80 -626.78 -24.11 4,086.28 859.48 21.03 5,200.04 Tools and Equipment 0.00 0.00 0.00 N/A 121.54 121.54 100.00 0.00 549.71 100.00 659.42 659.42 100.00 549.71 Equipment Rentals 507.99 715.36 207.37 28.99 857.97 349.98 40.79 1,015.98 57.06 5.32 1,207.95 191.97 15.89 1,430.72 Total General Maint Expense 5,710.72 890.38 -4,820.34 -541.38 9,120.89 3,410.17 37.39 11,015.74 -6,542.95 -146.28 14,808.56 3,792.82 25.61 7,680.51 Supplies-Grounds 2.74 349.35 346.61 99.22 27.38 24.64 89.99 2.74 695.96 99.61 835.13 832.39 99.67 1,397.40 Supplies-Electrical 19.98 0.00 -19.98 N/A 37.18 17.20 46.26 19.98 -19.98 N/A 37.18 17.20 46.26 0.00 Supplies-Janitorial 0.00 93.63 93.63 100.00 2.36 2.36 100.00 4.51 182.75 97.59 48.45 43.94 90.69 374.52 Supplies-General 348.49 2,364.65 2,016.16 85.26 1,573.09 1,224.60 77.85 2,601.82 2,127.46 44.98 4,348.13 1,746.31 40.16 9,458.60 Supplies-Plumbing 0.00 5.85 5.85 100.00 0.00 0.00 N/A 0.00 11.70 100.00 5.52 5.52 100.00 23.40 Supplies-HVAC 0.00 313.65 313.65 100.00 0.00 0.00 N/A 0.00 627.30 100.00 8.81 8.81 100.00 1,254.60 Supplies-Doors 0.00 58.83 58.83 100.00 0.00 0.00 N/A 0.00 117.66 100.00 185.65 185.65 100.00 235.32 Total Supplies | Materials 371.21 3,185.96 2,814.75 88.35 1,640.01 1,268.80 77.37 2,629.05 3,742.85 58.74 5,468.87 2,839.82 51.93 12,743.84 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 64 of 19484 EXHIBIT: BU|Combined PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Business Units (.hcbunit) Budget Comparison Period = Apr 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Contract-Work Orders - Internal 592.18 0.00 -592.18 N/A 485.45 -106.73 -21.99 996.21 -996.21 N/A 2,621.77 1,625.56 62.00 0.00 Contract-Preventative - Internal 335.51 975.00 639.49 65.59 562.25 226.74 40.33 503.27 1,446.73 74.19 1,164.68 661.41 56.79 3,900.00 Contract-System Services 68.37 264.52 196.15 74.15 7.63 -60.74 -796.07 424.62 16.33 3.70 180.26 -244.36 -135.56 1,105.62 Contract-Electrical 95.00 0.00 -95.00 N/A 0.00 -95.00 N/A 95.00 -95.00 N/A 0.00 -95.00 N/A 0.00 Contract-Pest Control 0.00 0.00 0.00 N/A 0.00 0.00 N/A 21.35 -21.35 N/A 0.00 -21.35 N/A 0.00 Contract-Grounds 576.57 2,685.05 2,108.48 78.53 2,352.42 1,775.85 75.49 5,803.22 -645.77 -12.52 4,614.57 -1,188.65 -25.76 10,052.92 Contract-Plumbing 0.00 0.00 0.00 N/A 0.00 0.00 N/A 36.60 0.81 2.17 36.60 0.00 0.00 170.27 Contract-HVAC 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 82.17 82.17 100.00 0.00 Contract-Alarms 0.00 6.10 6.10 100.00 0.00 0.00 N/A 0.00 6.10 100.00 0.00 0.00 N/A 6.10 Contract-General 0.00 0.00 0.00 N/A -112.58 -112.58 -100.00 0.00 0.00 N/A -112.58 -112.58 -100.00 0.00 Total Contract Costs 1,667.63 3,930.67 2,263.04 57.57 3,295.17 1,627.54 49.39 7,880.27 -288.36 -3.80 8,587.47 707.20 8.24 15,234.91 Total Maintenance Expenses - Core 7,749.56 8,007.01 257.45 3.22 14,056.07 6,306.51 44.87 21,525.06 -3,088.46 -16.75 28,864.90 7,339.84 25.43 35,659.26 Total Maintenance Expenses 7,749.56 8,007.01 257.45 3.22 14,056.07 6,306.51 44.87 21,525.06 -3,088.46 -16.75 28,864.90 7,339.84 25.43 35,659.26 Vehicle-Fuel 4,097.32 5,143.81 1,046.49 20.34 4,537.49 440.17 9.70 7,873.23 1,708.15 17.83 8,572.78 699.55 8.16 19,850.89 Vehicle-Repairs 2,453.54 3,404.70 951.16 27.94 6,168.64 3,715.10 60.23 3,086.70 1,734.09 35.97 7,286.93 4,200.23 57.64 12,109.21 Vehicle-Fixed Fee Maintenance 0.00 5,568.76 5,568.76 100.00 0.00 0.00 N/A 0.00 5,568.76 100.00 0.00 0.00 N/A 6,331.30 Vehicle-Lease 245.29 6,407.80 6,162.51 96.17 1,938.21 1,692.92 87.34 397.54 8,465.65 95.51 4,340.75 3,943.21 90.84 9,847.23 Total Vehicle Expenses 6,796.15 20,525.07 13,728.92 66.89 12,644.34 5,848.19 46.25 11,357.47 17,476.65 60.61 20,200.46 8,842.99 43.78 48,138.63 Insurance & Taxes Expenses Insurance - Property 1,107.27 1,410.75 303.48 21.51 1,457.30 350.03 24.02 2,208.47 613.03 21.73 3,839.73 1,631.26 42.48 5,643.00 Insurance - Liability 161.76 86.25 -75.51 -87.55 0.00 -161.76 N/A 318.84 -146.34 -84.83 0.00 -318.84 N/A 345.00 Insurance - Umbrella 0.00 86.25 86.25 100.00 0.00 0.00 N/A 0.00 172.50 100.00 0.00 0.00 N/A 345.00 Insurance - Auto 5,876.49 7,849.50 1,973.01 25.14 6,791.52 915.03 13.47 11,752.98 3,946.02 25.14 12,206.52 453.54 3.72 31,398.00 Insurance - Specialty | Other 2,230.53 1,687.50 -543.03 -32.18 0.00 -2,230.53 N/A 3,713.52 -338.52 -10.03 0.00 -3,713.52 N/A 6,750.00 Total Tax & Insurance Expenses 9,376.05 11,120.25 1,744.20 15.68 8,248.82 -1,127.23 -13.67 17,993.81 4,246.69 19.09 16,046.25 -1,947.56 -12.14 44,481.00 Other General Expenses Membership and Fees 459.34 1,899.22 1,439.88 75.81 484.00 24.66 5.10 1,758.34 1,449.68 45.19 912.00 -846.34 -92.80 5,563.27 Bank Fees 65.51 88.44 22.93 25.93 146.08 80.57 55.15 227.79 7.76 3.29 305.02 77.23 25.32 482.93 Filing Fees 50.00 0.00 -50.00 N/A 160.00 110.00 68.75 150.00 -79.78 -113.61 200.00 50.00 25.00 200.88 Office Supplies 203.14 3,452.98 3,249.84 94.12 3,021.47 2,818.33 93.28 1,275.29 6,504.42 83.61 7,544.16 6,268.87 83.10 17,003.64 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 65 of 19485 EXHIBIT: BU|Combined PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Business Units (.hcbunit) Budget Comparison Period = Apr 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Copier and Printer Usage | Supplies 797.53 1,504.20 706.67 46.98 1,884.14 1,086.61 57.67 2,075.06 1,168.81 36.03 3,586.36 1,511.30 42.14 7,147.25 Postage Usage | Supplies 4,476.58 2,763.40 -1,713.18 -62.00 4,056.30 -420.28 -10.36 7,728.78 -2,114.47 -37.66 6,845.84 -882.94 -12.90 12,964.30 Publications 60.09 153.25 93.16 60.79 269.95 209.86 77.74 63.21 175.70 73.54 353.77 290.56 82.13 590.31 Small Office Equipment 0.00 0.00 0.00 N/A 0.00 0.00 N/A 175.95 1,224.05 87.43 0.00 -175.95 N/A 1,814.89 Meetings Expenses 447.33 2,083.68 1,636.35 78.53 1,625.11 1,177.78 72.47 1,370.75 3,246.92 70.32 6,007.19 4,636.44 77.18 11,430.53 Miscellaneous General Expense 3,240.11 0.00 -3,240.11 N/A 0.00 -3,240.11 N/A 3,240.11 -3,240.11 N/A 0.00 -3,240.11 N/A 1,475.41 Facilities Rent 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 13,685.76 Total Other General Expenses 9,799.63 11,945.17 2,145.54 17.96 11,647.05 1,847.42 15.86 18,065.28 8,342.98 31.59 25,754.34 7,689.06 29.86 72,359.17 TOTAL GENERAL EXPENSES 54,413.41 73,987.97 19,574.56 26.46 107,034.34 52,620.93 49.16 98,359.41 41,436.65 29.64 182,516.81 84,157.40 46.11 287,155.82 TOTAL DIRECT OPERATING EXPENSES 1,655,347.99 1,809,874.58 154,526.59 8.54 1,822,344.93 166,996.94 9.16 3,344,332.18 250,078.67 6.96 3,567,505.54 223,173.36 6.26 7,192,890.15 TOTAL OPERATING EXPENSES 2,772,851.46 3,015,508.82 242,657.36 8.05 2,856,012.90 83,161.44 2.91 5,479,982.38 525,697.04 8.75 5,511,116.51 31,134.13 0.56 ######## NET OPERATING INCOME 121,980.92 -527,268.38 649,249.30 123.13 -312,619.55 434,600.47 139.02 -86,303.66 949,560.78 91.67 -265,904.21 179,600.55 67.54 -427,483.58 NON-OPERATING INCOME | EXPENSE NON OPERATING INCOME Interest Income - Soft Debt 356,490.24 445,380.51 -88,890.27 -19.96 0.00 356,490.24 N/A 712,980.48 -177,780.53 -19.96 0.00 712,980.48 N/A 1,781,522.03 Interest Income - Hard Debt 55,546.91 44,753.13 10,793.78 24.12 385,990.98 -330,444.07 -85.61 111,097.82 21,591.56 24.12 805,237.32 -694,139.50 -86.20 179,012.52 TOTAL NON OPERATING INCOME 412,037.15 490,133.64 -78,096.49 -15.93 385,990.98 26,046.17 6.75 824,078.30 -156,188.97 -15.93 805,237.32 18,840.98 2.34 1,960,534.55 NON OPERATING EXPENSES Interest Expense - Soft Loans 1,122.21 1,112.97 -9.24 -0.83 1,125.27 3.06 0.27 2,244.42 -18.48 -0.83 2,250.54 6.12 0.27 2,225.94 Interest Expense - Hard Loans 7,196.92 6,813.51 -383.41 -5.63 20,735.54 13,538.62 65.29 14,713.41 -1,086.39 -7.97 35,493.40 20,779.99 58.55 19,607.71 Interest Expense - Other 3,683.82 0.00 -3,683.82 N/A 403.98 -3,279.84 -811.88 7,367.64 -7,367.64 N/A 807.96 -6,559.68 -811.88 0.00 Interest Expense - Bond 1 42,722.93 42,797.10 74.17 0.17 31,686.54 -11,036.39 -34.83 85,449.86 144.34 0.17 90,395.10 4,945.24 5.47 171,188.39 Other Financing Costs 0.00 125.01 125.01 100.00 0.00 0.00 N/A 0.00 250.02 100.00 0.00 0.00 N/A 500.00 54,725.88 50,848.59 -3,877.29 -7.63 53,951.33 -774.55 -1.44 109,775.33 -8,078.15 -7.94 128,947.00 19,171.67 14.87 193,522.04 Depreciation - Buildings 14,640.24 12,337.53 -2,302.71 -18.66 14,640.24 0.00 0.00 29,280.48 -4,605.42 -18.66 29,280.48 0.00 0.00 49,350.13 Amortization - Leased Assets 6,266.25 2,531.11 -3,735.14 -147.57 6,266.25 0.00 0.00 12,532.50 -7,470.29 -147.57 12,532.50 0.00 0.00 10,124.47 20,906.49 14,868.64 -6,037.85 -40.61 20,906.49 0.00 0.00 41,812.98 -12,075.71 -40.61 41,812.98 0.00 0.00 59,474.60 Operating Transfers 4,000.00 0.00 -4,000.00 N/A 0.00 -4,000.00 N/A 4,500.00 -4,500.00 N/A 0.00 -4,500.00 N/A 0.00 Grant Expense - Non-Operating 12,500.00 12,500.01 0.01 0.00 0.00 -12,500.00 N/A 25,000.00 0.02 0.00 0.00 -25,000.00 N/A 50,000.04 12,500.00 12,500.01 0.01 0.00 0.00 -12,500.00 N/A 25,000.00 0.02 0.00 0.00 -25,000.00 N/A 50,000.04 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 66 of 19486 EXHIBIT: BU|Combined PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Business Units (.hcbunit) Budget Comparison Period = Apr 2025-Jun 2025 Book = Accrual ; Tree = ysi_is TOTAL NON OPERATING EXPENSES 92,132.37 78,217.24 -13,915.13 -17.79 74,857.82 -17,274.55 -23.08 181,088.31 -24,653.84 -15.76 170,759.98 -10,328.33 -6.05 302,996.68 PARTNERSHIP INCOME(EXPENSES) Income (Loss) - Partnerships 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 55,269.80 TOTAL PARTNERSHIP INCOME(EXPENSES)0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 55,269.80 NET NON-OPERATING INCOME(EXPENSE)319,904.78 411,916.40 -92,011.62 -22.34 311,133.16 8,771.62 2.82 642,989.99 -180,842.81 -21.95 634,477.34 8,512.65 1.34 1,712,807.67 NET INCOME (LOSS)441,885.70 -115,351.98 557,237.68 483.08 -1,486.39 443,372.09 29,828.79 556,686.33 768,717.97 362.55 368,573.13 188,113.20 51.04 1,285,324.09 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 67 of 19487 EXHIBIT: BU|Property Operations PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual YTD Budget INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES AGENCY REVENUE TOTAL AGENCY REVENUE 1,395,574.81 1,407,554.74 -11,979.93 -0.85 1,179,303.99 216,270.82 18.34 1,395,574.81 -11,979.93 -0.85 1,179,303.99 216,270.82 18.34 2,815,109.38 1,407,555 - TOTAL OPERATING REVENUE 1,395,574.81 1,407,554.74 -11,979.93 -0.85 1,179,303.99 216,270.82 18.34 1,395,574.81 -11,979.93 -0.85 1,179,303.99 216,270.82 18.34 2,815,109.38 1,407,555 - OPERATING EXPENSES - INTRA-CO ALLOCATIONS - TOTAL INTRA-Co ALLOCATIONS 792,542.78 843,493.56 50,950.78 6.04 779,915.90 -12,626.88 -1.62 792,542.78 50,950.78 6.04 779,915.90 -12,626.88 -1.62 1,686,987.12 741,592 DIRECT OPERATING EXPENSES - - ADMINISTRATIVE - Labor Expenses - Salaries & Wages 130,381.85 170,595.00 40,213.15 23.57 271,586.68 141,204.83 51.99 130,381.85 40,213.15 23.57 271,586.68 141,204.83 51.99 341,190.00 90,169 Benefits Expenses - Property Management Department (dept-pm) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 68 of 19488 EXHIBIT: BU|Property Operations PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual YTD Budget Property Management Department (dept-pm) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Benefits Expenses 26,539.84 44,519.02 17,979.18 40.39 47,315.72 20,775.88 43.91 26,539.84 17,979.18 40.39 47,315.72 20,775.88 43.91 89,038.00 8,561 Total Labor Expenses 156,921.69 215,114.02 58,192.33 27.05 318,902.40 161,980.71 50.79 156,921.69 58,192.33 27.05 318,902.40 161,980.71 50.79 430,228.00 98,729 Legal Expense - Total Legal Expense 3,547.50 981.10 -2,566.40 -261.58 2,200.00 -1,347.50 -61.25 3,547.50 -2,566.40 -261.58 2,200.00 -1,347.50 -61.25 1,029.54 6,114 Other Administrative Expenses - Staff Training & Conferences 2,644.11 9,999.98 7,355.87 73.56 15,871.95 13,227.84 83.34 2,644.11 7,355.87 73.56 15,871.95 13,227.84 83.34 20,000.00 (4,712) Travel, Lodging & Per Diems 411.46 4,000.50 3,589.04 89.71 449.78 38.32 8.52 411.46 3,589.04 89.71 449.78 38.32 8.52 8,001.00 (3,178) Mileage 126.36 2,880.34 2,753.98 95.61 2,983.12 2,856.76 95.76 126.36 2,753.98 95.61 2,983.12 2,856.76 95.76 8,029.59 (2,628) Meals - Business Partners 2,968.76 0.00 -2,968.76 N/A 0.00 -2,968.76 N/A 2,968.76 -2,968.76 N/A 0.00 -2,968.76 N/A 0.00 5,938 Marketing 0.00 724.71 724.71 100.00 84.11 84.11 100.00 0.00 724.71 100.00 84.11 84.11 100.00 887.16 (725) Resident Relocation 0.00 0.00 0.00 N/A 200.00 200.00 100.00 0.00 0.00 N/A 200.00 200.00 100.00 0.00 - Parking Fees 14.00 0.00 -14.00 N/A 0.00 -14.00 N/A 14.00 -14.00 N/A 0.00 -14.00 N/A 0.00 28 Consultants 0.00 0.00 0.00 N/A 5,000.00 5,000.00 100.00 0.00 0.00 N/A 5,000.00 5,000.00 100.00 0.00 - Security Services 27.38 0.00 -27.38 N/A 160.00 132.62 82.89 27.38 -27.38 N/A 160.00 132.62 82.89 0.00 55 Miscellaneous Admin Expense 15,725.30 0.00 -15,725.30 N/A 12,480.87 -3,244.43 -26.00 15,725.30 -15,725.30 N/A 12,480.87 -3,244.43 -26.00 0.00 31,451 Total Other Administrative Expen 21,917.37 17,605.53 -4,311.84 -24.49 37,229.83 15,312.46 41.13 21,917.37 -4,311.84 -24.49 37,229.83 15,312.46 41.13 36,917.75 26,229 Technology Expenses - Total Technology Expenses 600.00 1,200.00 600.00 50.00 1,050.00 450.00 42.86 600.00 600.00 50.00 1,050.00 450.00 42.86 2,400.00 - Compliance Expenses - Total Compliance Expenses 37.76 0.00 -37.76 N/A 5,249.39 5,211.63 99.28 37.76 -37.76 N/A 5,249.39 5,211.63 99.28 0.00 76 TOTAL ADMINISTRATIVE EXPENSE 183,024.32 234,900.65 51,876.33 22.08 364,631.62 181,607.30 49.81 183,024.32 51,876.33 22.08 364,631.62 181,607.30 49.81 470,575.29 131,148 - GENERAL EXPENSES - - Maintenance Expenses - General Items - Total General Maint Expense 1,015.98 1,622.75 606.77 37.39 1,745.83 729.85 41.81 1,015.98 606.77 37.39 1,745.83 729.85 41.81 1,980.43 409 Supplies - Total Supplies | Materials 0.00 1,568.16 1,568.16 100.00 1,361.07 1,361.07 100.00 0.00 1,568.16 100.00 1,361.07 1,361.07 100.00 3,136.32 (1,568) Total Maintenance Expenses - Co 1,015.98 3,190.91 2,174.93 68.16 3,106.90 2,090.92 67.30 1,015.98 2,174.93 68.16 3,106.90 2,090.92 67.30 5,116.75 (1,159) Total Maintenance Expenses 1,015.98 3,190.91 2,174.93 68.16 3,106.90 2,090.92 67.30 1,015.98 2,174.93 68.16 3,106.90 2,090.92 67.30 5,116.75 (1,159) Vehicle Expenses - Total Vehicle Expenses 87.01 0.00 -87.01 N/A 0.00 -87.01 N/A 87.01 -87.01 N/A 0.00 -87.01 N/A 0.00 174 - Other General Expenses - HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 69 of 19489 EXHIBIT: BU|Property Operations PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual YTD Budget Property Management Department (dept-pm) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Membership and Fees 0.00 419.02 419.02 100.00 400.00 400.00 100.00 0.00 419.02 100.00 400.00 400.00 100.00 663.27 (419) Office Supplies 200.28 6,485.87 6,285.59 96.91 6,243.12 6,042.84 96.79 200.28 6,285.59 96.91 6,243.12 6,042.84 96.79 14,617.96 (6,085) Copier and Printer Usage | Suppl 341.25 2,099.73 1,758.48 83.75 1,915.93 1,574.68 82.19 341.25 1,758.48 83.75 1,915.93 1,574.68 82.19 4,034.84 (1,417) Postage Usage | Supplies 1,837.27 1,686.17 -151.10 -8.96 1,826.92 -10.35 -0.57 1,837.27 -151.10 -8.96 1,826.92 -10.35 -0.57 2,850.60 1,988 Publications 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 1.02 - Small Office Equipment 175.95 0.00 -175.95 N/A 0.00 -175.95 N/A 175.95 -175.95 N/A 0.00 -175.95 N/A 400.62 352 Meetings Expenses 379.00 3,000.00 2,621.00 87.37 4,431.35 4,052.35 91.45 379.00 2,621.00 87.37 4,431.35 4,052.35 91.45 6,000.00 (2,242) Miscellaneous General Expense 96.21 0.00 -96.21 N/A 0.00 -96.21 N/A 96.21 -96.21 N/A 0.00 -96.21 N/A 0.00 192 Total Other General Expenses 3,029.96 13,690.79 10,660.83 77.87 14,817.32 11,787.36 79.55 3,029.96 10,660.83 77.87 14,817.32 11,787.36 79.55 28,568.31 (7,631) TOTAL GENERAL EXPENSES 4,132.95 16,881.70 12,748.75 75.52 17,924.22 13,791.27 76.94 4,132.95 12,748.75 75.52 17,924.22 13,791.27 76.94 33,685.06 (8,616) TOTAL DIRECT OPERATING EXPEN 187,157.27 251,782.35 64,625.08 25.67 382,555.84 195,398.57 51.08 187,157.27 64,625.08 25.67 382,555.84 195,398.57 51.08 504,260.35 122,532 TOTAL OPERATING EXPENSES 979,700.05 1,095,275.91 115,575.86 10.55 1,162,471.74 182,771.69 15.72 979,700.05 115,575.86 10.55 1,162,471.74 182,771.69 15.72 2,191,247.47 864,124 NET OPERATING INCOME 415,874.76 312,278.83 103,595.93 33.17 16,832.25 399,042.51 2,370.70 415,874.76 103,595.93 33.17 16,832.25 399,042.51 2,370.70 623,861.91 312,279 - NET INCOME (LOSS)415,874.76 312,278.83 103,595.93 33.17 16,832.25 399,042.51 2,370.70 415,874.76 103,595.93 33.17 16,832.25 399,042.51 2,370.70 623,861.91 312,279 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 70 of 19490 EXHIBIT: BU|Site Recapture PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES AGENCY REVENUE Site Labor Cost Recapture 825,868.60 831,876.74 -6,008.14 -0.72 861,792.66 -35,924.06 -4.17 825,868.60 -6,008.14 -0.72 861,792.66 -35,924.06 -4.17 1,663,753.46 Technology Management Cost Recapture 85,866.00 86,738.48 -872.48 -1.01 90,908.70 -5,042.70 -5.55 85,866.00 -872.48 -1.01 90,908.70 -5,042.70 -5.55 173,477.00 TOTAL AGENCY REVENUE 911,734.60 918,615.22 -6,880.62 -0.75 952,701.36 -40,966.76 -4.30 911,734.60 -6,880.62 -0.75 952,701.36 -40,966.76 -4.30 1,837,230.46 TOTAL OPERATING REVENUE 911,734.60 918,615.22 -6,880.62 -0.75 952,701.36 -40,966.76 -4.30 911,734.60 -6,880.62 -0.75 952,701.36 -40,966.76 -4.30 1,837,230.46 OPERATING EXPENSES INTRA-CO ALLOCATIONS Intra-Co Alloc: TM 49,552.84 68,358.77 18,805.93 27.51 42,002.76 -7,550.08 -17.98 49,552.84 18,805.93 27.51 42,002.76 -7,550.08 -17.98 136,717.55 Intra-Co Alloc: IT 80,742.89 86,737.56 5,994.67 6.91 72,988.42 -7,754.47 -10.62 80,742.89 5,994.67 6.91 72,988.42 -7,754.47 -10.62 173,475.12 TOTAL INTRA-Co ALLOCATIONS 130,295.73 155,096.33 24,800.60 15.99 114,991.18 -15,304.55 -13.31 130,295.73 24,800.60 15.99 114,991.18 -15,304.55 -13.31 310,192.67 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 657,086.18 609,484.20 -47,601.98 -7.81 616,812.16 -40,274.02 -6.53 657,086.18 -47,601.98 -7.81 616,812.16 -40,274.02 -6.53 1,218,968.40 Medical Insurance 43,523.61 54,600.00 11,076.39 20.29 49,843.42 6,319.81 12.68 43,523.61 11,076.39 20.29 49,843.42 6,319.81 12.68 109,200.00 8,977.52 6,095.02 -2,882.50 -47.29 8,471.45 -506.07 -5.97 8,977.52 -2,882.50 -47.29 8,471.45 -506.07 -5.97 12,190.00 EAP Program 0.00 1,427.02 1,427.02 100.00 1,194.19 1,194.19 100.00 0.00 1,427.02 100.00 1,194.19 1,194.19 100.00 2,854.00 MERP Program Reimbursements 5,180.46 5,180.48 0.02 0.00 1,238.04 -3,942.42 -318.44 5,180.46 0.02 0.00 1,238.04 -3,942.42 -318.44 10,361.00 Workers Comp 7,959.25 6,094.80 -1,864.45 -30.59 7,899.27 -59.98 -0.76 7,959.25 -1,864.45 -30.59 7,899.27 -59.98 -0.76 12,189.60 ER Retirement Contributions 65,708.53 60,948.52 -4,760.01 -7.81 61,681.37 -4,027.16 -6.53 65,708.53 -4,760.01 -7.81 61,681.37 -4,027.16 -6.53 121,897.00 ER Payroll Taxes 10,638.98 9,324.98 -1,314.00 -14.09 9,856.82 -782.16 -7.94 10,638.98 -1,314.00 -14.09 9,856.82 -782.16 -7.94 18,650.00 ER FAMLI 3,101.07 5,485.50 2,384.43 43.47 2,213.40 -887.67 -40.10 3,101.07 2,384.43 43.47 2,213.40 -887.67 -40.10 10,971.00 Total Benefits Expenses 145,089.42 149,156.32 4,066.90 2.73 142,397.96 -2,691.46 -1.89 145,089.42 4,066.90 2.73 142,397.96 -2,691.46 -1.89 298,312.60 Total Labor Expenses 802,175.60 758,640.52 -43,535.08 -5.74 759,210.12 -42,965.48 -5.66 802,175.60 -43,535.08 -5.74 759,210.12 -42,965.48 -5.66 1,517,281.00 Other Administrative Expenses Staff Training & Conferences 0.00 141.72 141.72 100.00 138.67 138.67 100.00 0.00 141.72 100.00 138.67 138.67 100.00 156.79 Total Other Administrative Expenses 0.00 141.72 141.72 100.00 138.67 138.67 100.00 0.00 141.72 100.00 138.67 138.67 100.00 156.79 Technology Expenses Cellular - Phones | Tablets 5,350.00 4,800.00 -550.00 -11.46 4,900.00 -450.00 -9.18 5,350.00 -550.00 -11.46 4,900.00 -450.00 -9.18 9,600.00 Site Staff Department (dept-ste) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 71 of 19491 EXHIBIT: BU|Site Recapture PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Site Staff Department (dept-ste) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Technology Expenses 5,350.00 4,800.00 -550.00 -11.46 4,900.00 -450.00 -9.18 5,350.00 -550.00 -11.46 4,900.00 -450.00 -9.18 9,600.00 TOTAL ADMINISTRATIVE EXPENSES 807,525.60 763,582.24 -43,943.36 -5.75 764,248.79 -43,276.81 -5.66 807,525.60 -43,943.36 -5.75 764,248.79 -43,276.81 -5.66 1,527,037.79 GENERAL EXPENSES Insurance & Taxes Expenses Insurance - Specialty | Other 746.79 0.00 -746.79 N/A 0.00 -746.79 N/A 746.79 -746.79 N/A 0.00 -746.79 N/A 0.00 Total Tax & Insurance Expenses 746.79 0.00 -746.79 N/A 0.00 -746.79 N/A 746.79 -746.79 N/A 0.00 -746.79 N/A 0.00 Other General Expenses Office Supplies 164.98 0.00 -164.98 N/A 0.00 -164.98 N/A 164.98 -164.98 N/A 0.00 -164.98 N/A 0.00 Miscellaneous General Expense 790.23 0.00 -790.23 N/A 0.00 -790.23 N/A 790.23 -790.23 N/A 0.00 -790.23 N/A 0.00 Total Other General Expenses 955.21 0.00 -955.21 N/A 0.00 -955.21 N/A 955.21 -955.21 N/A 0.00 -955.21 N/A 0.00 TOTAL GENERAL EXPENSES 1,702.00 0.00 -1,702.00 N/A 0.00 -1,702.00 N/A 1,702.00 -1,702.00 N/A 0.00 -1,702.00 N/A 0.00 TOTAL DIRECT OPERATING EXPENSES 809,227.60 763,582.24 -45,645.36 -5.98 764,248.79 -44,978.81 -5.89 809,227.60 -45,645.36 -5.98 764,248.79 -44,978.81 -5.89 1,527,037.79 TOTAL OPERATING EXPENSES 939,523.33 918,678.57 -20,844.76 -2.27 879,239.97 -60,283.36 -6.86 939,523.33 -20,844.76 -2.27 879,239.97 -60,283.36 -6.86 1,837,230.46 NET OPERATING INCOME -27,788.73 -63.35 -27,725.38 -43,765.40 73,461.39 -101,250.12 -137.83 -27,788.73 -27,725.38 -43,765.40 73,461.39 -101,250.12 -137.83 0.00 NET INCOME (LOSS)-27,788.73 -63.35 -27,725.38 -43,765.40 73,461.39 -101,250.12 -137.83 -27,788.73 -27,725.38 -43,765.40 73,461.39 -101,250.12 -137.83 0.00 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 72 of 19492 EXHIBIT: BU|Maintenance PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES AGENCY REVENUE TOTAL AGENCY REVENUE 698,551.60 688,789.50 9,762.10 1.42 786,840.01 -88,288.41 -11.22 698,551.60 9,762.10 1.42 786,840.01 -88,288.41 -11.22 1,377,579.00 OTHER INCOME TOTAL OTHER INCOME 811.71 0.00 811.71 N/A 635.40 176.31 27.75 811.71 811.71 N/A 635.40 176.31 27.75 0.00 TOTAL OPERATING REVENUE 699,363.31 688,789.50 10,573.81 1.54 787,475.41 -88,112.10 -11.19 699,363.31 10,573.81 1.54 787,475.41 -88,112.10 -11.19 1,377,579.00 OPERATING EXPENSES INTRA-CO ALLOCATIONS TOTAL INTRA-Co ALLOCATIONS 105,225.92 135,515.95 30,290.03 22.35 140,932.65 35,706.73 25.34 105,225.92 30,290.03 22.35 140,932.65 35,706.73 25.34 271,032.01 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 424,218.72 442,424.48 18,205.76 4.12 472,375.81 48,157.09 10.19 424,218.72 18,205.76 4.12 472,375.81 48,157.09 10.19 884,849.00 Total Benefits Expenses 104,272.06 119,737.50 15,465.44 12.92 102,847.52 -1,424.54 -1.39 104,272.06 15,465.44 12.92 102,847.52 -1,424.54 -1.39 239,475.00 Total Labor Expenses 528,490.78 562,161.98 33,671.20 5.99 575,223.33 46,732.55 8.12 528,490.78 33,671.20 5.99 575,223.33 46,732.55 8.12 1,124,324.00 Other Administrative Expenses Total Other Administrative Expenses 545.56 5,730.02 5,184.46 90.48 10,685.21 10,139.65 94.89 545.56 5,184.46 90.48 10,685.21 10,139.65 94.89 7,730.04 Technology Expenses Total Technology Expenses 1,800.00 1,800.00 0.00 0.00 2,353.75 553.75 23.53 1,800.00 0.00 0.00 2,353.75 553.75 23.53 3,600.00 TOTAL ADMINISTRATIVE EXPENSES 530,836.34 569,692.00 38,855.66 6.82 588,262.29 57,425.95 9.76 530,836.34 38,855.66 6.82 588,262.29 57,425.95 9.76 1,135,654.04 GENERAL EXPENSES Utilities Expense Total Utility Expenses 103.95 0.00 -103.95 N/A 81.65 -22.30 -27.31 103.95 -103.95 N/A 81.65 -22.30 -27.31 0.00 Maintenance Expenses Total General Maint Expense 9,990.42 2,750.02 -7,240.40 -263.29 13,021.18 3,030.76 23.28 9,990.42 -7,240.40 -263.29 13,021.18 3,030.76 23.28 5,500.04 Maintenance Department (dept-mtc) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 73 of 19493 EXHIBIT: BU|Maintenance PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Maintenance Department (dept-mtc) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Supplies | Materials 2,596.33 4,419.98 1,823.65 41.26 4,016.53 1,420.20 35.36 2,596.33 1,823.65 41.26 4,016.53 1,420.20 35.36 8,840.00 Total Contract Costs 987.50 0.00 -987.50 N/A 1,488.42 500.92 33.65 987.50 -987.50 N/A 1,488.42 500.92 33.65 0.00 Total Maintenance Expenses - Core 13,574.25 7,170.00 -6,404.25 -89.32 18,526.13 4,951.88 26.73 13,574.25 -6,404.25 -89.32 18,526.13 4,951.88 26.73 14,340.04 Total Maintenance Expenses 13,574.25 7,170.00 -6,404.25 -89.32 18,526.13 4,951.88 26.73 13,574.25 -6,404.25 -89.32 18,526.13 4,951.88 26.73 14,340.04 Total Vehicle Expenses 10,639.39 26,726.36 16,086.97 60.19 17,299.77 6,660.38 38.50 10,639.39 16,086.97 60.19 17,299.77 6,660.38 38.50 44,020.64 Insurance & Taxes Expenses Total Tax & Insurance Expenses 10,372.02 14,229.00 3,856.98 27.11 10,830.00 457.98 4.23 10,372.02 3,856.98 27.11 10,830.00 457.98 4.23 28,458.00 Other General Expenses Total Other General Expenses 2,867.03 2,284.87 -582.16 -25.48 2,775.35 -91.68 -3.30 2,867.03 -582.16 -25.48 2,775.35 -91.68 -3.30 4,666.73 TOTAL GENERAL EXPENSES 37,556.64 50,410.23 12,853.59 25.50 49,512.90 11,956.26 24.15 37,556.64 12,853.59 25.50 49,512.90 11,956.26 24.15 91,485.41 TOTAL DIRECT OPERATING EXPENSES 568,392.98 620,102.23 51,709.25 8.34 637,775.19 69,382.21 10.88 568,392.98 51,709.25 8.34 637,775.19 69,382.21 10.88 1,227,139.45 516,683.73 TOTAL OPERATING EXPENSES 673,618.90 755,618.18 81,999.28 10.85 778,707.84 105,088.94 13.50 673,618.90 81,999.28 10.85 778,707.84 105,088.94 13.50 1,498,171.46 NET OPERATING INCOME 25,744.41 -66,828.68 92,573.09 138.52 8,767.57 16,976.84 193.63 25,744.41 92,573.09 138.52 8,767.57 16,976.84 193.63 -120,592.46 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES 7,367.64 0.00 -7,367.64 N/A 807.96 -6,559.68 -811.88 7,367.64 -7,367.64 N/A 807.96 -6,559.68 -811.88 0.00 17,137.92 5,062.21 -12,075.71 -238.55 17,137.92 0.00 0.00 17,137.92 -12,075.71 -238.55 17,137.92 0.00 0.00 10,124.47 TOTAL NON OPERATING EXPENSES 24,505.56 5,062.21 -19,443.35 -384.09 17,945.88 -6,559.68 -36.55 24,505.56 -19,443.35 -384.09 17,945.88 -6,559.68 -36.55 10,124.47 NET NON-OPERATING INCOME(EXPENSE)-24,505.56 -5,062.21 -19,443.35 -384.09 -17,945.88 -6,559.68 -36.55 -24,505.56 -19,443.35 -384.09 -17,945.88 -6,559.68 -36.55 -10,124.47 NET INCOME (LOSS)1,238.85 -71,890.89 73,129.74 101.72 -9,178.31 10,417.16 113.50 1,238.85 73,129.74 101.72 -9,178.31 10,417.16 113.50 -130,716.93 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 74 of 19494 EXHIBIT: BU|Rental Assistance PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES AGENCY REVENUE Voucher Management Fees Earned 892,740.33 805,497.52 87,242.81 10.83 864,241.85 28,498.48 3.30 892,740.33 87,242.81 10.83 864,241.85 28,498.48 3.30 1,610,995.00 Voucher DOH Management Fees Earned 75,141.64 67,798.50 7,343.14 10.83 0.00 75,141.64 N/A 75,141.64 7,343.14 10.83 0.00 75,141.64 N/A 135,597.00 TOTAL AGENCY REVENUE 967,881.97 873,296.02 94,585.95 10.83 864,241.85 103,640.12 11.99 967,881.97 94,585.95 10.83 864,241.85 103,640.12 11.99 1,746,592.00 TOTAL OPERATING REVENUE 967,881.97 873,296.02 94,585.95 10.83 864,241.85 103,640.12 11.99 967,881.97 94,585.95 10.83 864,241.85 103,640.12 11.99 1,746,592.00 OPERATING EXPENSES INTRA-CO ALLOCATIONS TOTAL INTRA-Co ALLOCATIONS 309,235.67 357,717.58 48,481.91 13.55 234,461.10 -74,774.57 -31.89 309,235.67 48,481.91 13.55 234,461.10 -74,774.57 -31.89 715,435.12 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 513,187.66 503,780.48 -9,407.18 -1.87 487,946.44 -25,241.22 -5.17 513,187.66 -9,407.18 -1.87 487,946.44 -25,241.22 -5.17 1,007,561.00 Total Benefits Expenses 123,633.84 121,732.44 -1,901.40 -1.56 113,563.01 -10,070.83 -8.87 123,633.84 -1,901.40 -1.56 113,563.01 -10,070.83 -8.87 243,465.00 Total Labor Expenses 636,821.50 625,512.92 -11,308.58 -1.81 601,509.45 -35,312.05 -5.87 636,821.50 -11,308.58 -1.81 601,509.45 -35,312.05 -5.87 1,251,026.00 Legal Expense Total Legal Expense 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 7.65 Other Administrative Expenses Total Other Administrative Expenses 9,904.73 15,441.17 5,536.44 35.86 16,486.35 6,581.62 39.92 9,904.73 5,536.44 35.86 16,486.35 6,581.62 39.92 30,495.54 Technology Expenses Total Technology Expenses 3,000.00 3,150.00 150.00 4.76 3,300.00 300.00 9.09 3,000.00 150.00 4.76 3,300.00 300.00 9.09 6,300.00 TOTAL ADMINISTRATIVE EXPENSES 649,726.23 644,104.09 -5,622.14 -0.87 621,295.80 -28,430.43 -4.58 649,726.23 -5,622.14 -0.87 621,295.80 -28,430.43 -4.58 1,287,829.19 GENERAL EXPENSES Maintenance Expenses Total General Maint Expense 0.00 100.02 100.02 100.00 0.00 0.00 N/A 0.00 100.02 100.00 0.00 0.00 N/A 200.04 Total Maintenance Expenses - Core 0.00 100.02 100.02 100.00 0.00 0.00 N/A 0.00 100.02 100.00 0.00 0.00 N/A 200.04 Total Maintenance Expenses 0.00 100.02 100.02 100.00 0.00 0.00 N/A 0.00 100.02 100.00 0.00 0.00 N/A 200.04 Rental Assistance Department (dept-ra) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 75 of 19495 EXHIBIT: BU|Rental Assistance PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Rental Assistance Department (dept-ra) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Vehicle Expenses 631.07 1,377.00 745.93 54.17 1,177.55 546.48 46.41 631.07 745.93 54.17 1,177.55 546.48 46.41 2,754.00 Insurance & Taxes Expenses Total Tax & Insurance Expenses 690.48 735.00 44.52 6.06 1,376.52 686.04 49.84 690.48 44.52 6.06 1,376.52 686.04 49.84 1,470.00 Other General Expenses Total Other General Expenses 7,598.52 8,117.04 518.52 6.39 5,930.88 -1,667.64 -28.12 7,598.52 518.52 6.39 5,930.88 -1,667.64 -28.12 15,266.06 TOTAL GENERAL EXPENSES 8,920.07 10,329.06 1,408.99 13.64 8,484.95 -435.12 -5.13 8,920.07 1,408.99 13.64 8,484.95 -435.12 -5.13 19,690.10 TOTAL DIRECT OPERATING EXPENSES 658,646.30 654,433.15 -4,213.15 -0.64 629,780.75 -28,865.55 -4.58 658,646.30 -4,213.15 -0.64 629,780.75 -28,865.55 -4.58 1,307,519.29 TOTAL OPERATING EXPENSES 967,881.97 1,012,150.73 44,268.76 4.37 864,241.85 -103,640.12 -11.99 967,881.97 44,268.76 4.37 864,241.85 -103,640.12 -11.99 2,022,954.41 NET OPERATING INCOME 0.00 -138,854.71 138,854.71 100.00 0.00 0.00 N/A 0.00 138,854.71 100.00 0.00 0.00 N/A -276,362.41 NET INCOME (LOSS)0.00 -138,854.71 138,854.71 100.00 0.00 0.00 N/A 0.00 138,854.71 100.00 0.00 0.00 N/A -276,362.41 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 76 of 19496 EXHIBIT: BU|Resident Services PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES GRANT REVENUE TOTAL GRANT REVENUE 402,887.97 377,532.00 25,355.97 6.72 366,695.01 36,192.96 9.87 402,887.97 25,355.97 6.72 366,695.01 36,192.96 9.87 761,731.00 AGENCY REVENUE Resident Services Fee Income 632,352.00 653,473.08 -21,121.08 -3.23 701,062.75 -68,710.75 -9.80 632,352.00 -21,121.08 -3.23 701,062.75 -68,710.75 -9.80 1,306,946.16 Credits: Mission-Driven Support -58,500.00 -177,112.08 118,612.08 66.97 -161,102.00 102,602.00 63.69 -58,500.00 118,612.08 66.97 -161,102.00 102,602.00 63.69 -354,224.16 RS Clinical Billing Revenue 1,830.78 900.00 930.78 103.42 482.11 1,348.67 279.74 1,830.78 930.78 103.42 482.11 1,348.67 279.74 1,800.00 TOTAL AGENCY REVENUE 575,682.78 477,261.00 98,421.78 20.62 540,442.86 35,239.92 6.52 575,682.78 This 20.62 540,442.86 35,239.92 6.52 954,522.00 OTHER INCOME TOTAL OTHER INCOME 0.87 0.00 0.87 N/A 502.14 -501.27 -99.83 0.87 0.87 N/A 502.14 -501.27 -99.83 0.00 TOTAL OPERATING REVENUE 978,571.62 854,793.00 123,778.62 14.48 907,640.01 70,931.61 7.81 978,571.62 123,778.62 14.48 907,640.01 70,931.61 7.81 1,716,253.00 OPERATING EXPENSES INTRA-CO ALLOCATIONS TOTAL INTRA-Co ALLOCATIONS 257,973.08 307,451.91 49,478.83 16.09 155,255.48 -102,717.60 -66.16 257,973.08 49,478.83 16.09 155,255.48 -102,717.60 -66.16 614,904.09 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 543,230.13 642,259.42 99,029.29 15.42 541,531.19 -1,698.94 -0.31 543,230.13 99,029.29 15.42 541,531.19 -1,698.94 -0.31 1,288,175.00 Total Benefits Expenses 117,803.79 147,265.50 29,461.71 20.01 112,105.15 -5,698.64 -5.08 117,803.79 29,461.71 20.01 112,105.15 -5,698.64 -5.08 294,531.00 Total Labor Expenses 661,033.92 789,524.92 128,491.00 16.27 653,636.34 -7,397.58 -1.13 661,033.92 128,491.00 16.27 653,636.34 -7,397.58 -1.13 1,582,706.00 Other Administrative Expenses Total Other Administrative Expenses 1,441.47 11,955.00 10,513.53 87.94 12,228.35 10,786.88 88.21 1,441.47 10,513.53 87.94 12,228.35 10,786.88 88.21 19,110.00 Technology Expenses Total Technology Expenses 4,381.25 6,926.52 2,545.27 36.75 5,265.69 884.44 16.80 4,381.25 2,545.27 36.75 5,265.69 884.44 16.80 13,697.00 TOTAL ADMINISTRATIVE EXPENSES 666,856.64 808,406.44 141,549.80 17.51 671,130.38 4,273.74 0.64 666,856.64 141,549.80 17.51 671,130.38 4,273.74 0.64 1,615,513.00 GENERAL EXPENSES Resident Services Total Resident Services 28,071.14 42,557.08 14,485.94 34.04 90,189.94 62,118.80 68.88 28,071.14 14,485.94 34.04 90,189.94 62,118.80 68.88 84,101.65 Resident Service Funds (dept-rs) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 77 of 19497 EXHIBIT: BU|Resident Services PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Resident Service Funds (dept-rs) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Maintenance Expenses Total General Maint Expense 0.00 0.00 0.00 N/A 41.55 41.55 100.00 0.00 0.00 N/A 41.55 41.55 100.00 0.00 Total Supplies | Materials 0.00 298.80 298.80 100.00 55.64 55.64 100.00 0.00 298.80 100.00 55.64 55.64 100.00 597.60 Total Maintenance Expenses - Core 0.00 298.80 298.80 100.00 97.19 97.19 100.00 0.00 298.80 100.00 97.19 97.19 100.00 597.60 Total Maintenance Expenses 0.00 298.80 298.80 100.00 97.19 97.19 100.00 0.00 298.80 100.00 97.19 97.19 100.00 597.60 Total Vehicle Expenses 0.00 28.89 28.89 100.00 0.00 0.00 N/A 0.00 28.89 100.00 0.00 0.00 N/A 0.00 Insurance & Taxes Expenses Total Tax & Insurance Expenses 2,966.73 3,375.00 408.27 12.10 738.98 -2,227.75 -301.46 2,966.73 408.27 12.10 738.98 -2,227.75 -301.46 6,750.00 Other General Expenses Total Other General Expenses 2,012.68 141.78 -1,870.90 -1,319.58 1,068.71 -943.97 -88.33 2,012.68 -1,870.90 -1,319.58 1,068.71 -943.97 -88.33 283.56 TOTAL GENERAL EXPENSES 33,050.55 46,401.55 13,351.00 28.77 92,094.82 59,044.27 64.11 33,050.55 13,351.00 28.77 92,094.82 59,044.27 64.11 91,732.81 TOTAL DIRECT OPERATING EXPENSES 699,907.19 854,807.99 154,900.80 18.12 763,225.20 63,318.01 8.30 699,907.19 154,900.80 18.12 763,225.20 63,318.01 8.30 1,707,245.81 TOTAL OPERATING EXPENSES 957,880.27 1,162,259.90 204,379.63 17.58 918,480.68 -39,399.59 -4.29 957,880.27 204,379.63 17.58 918,480.68 -39,399.59 -4.29 2,322,149.90 753,500.64 NET OPERATING INCOME 20,691.35 -307,466.90 328,158.25 106.73 -10,840.67 31,532.02 290.87 20,691.35 328,158.25 106.73 -10,840.67 31,532.02 290.87 -605,896.90 NET INCOME (LOSS)20,691.35 -307,466.90 328,158.25 106.73 -10,840.67 31,532.02 290.87 20,691.35 328,158.25 106.73 -10,840.67 31,532.02 290.87 -605,896.90 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 78 of 19498 EXHIBIT: BU|Development PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES AGENCY REVENUE Developer Fee Earned or Collected 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 1,200,124.66 Acquisition and Disposition Fees 150,000.00 0.00 150,000.00 N/A 0.00 150,000.00 N/A 150,000.00 150,000.00 N/A 0.00 150,000.00 N/A 250,000.00 TOTAL AGENCY REVENUE 150,000.00 0.00 150,000.00 N/A 0.00 150,000.00 N/A 150,000.00 150,000.00 N/A 0.00 150,000.00 N/A 1,450,124.66 OTHER INCOME Miscellaneous Income 11,762.80 0.00 11,762.80 N/A 0.00 11,762.80 N/A 11,762.80 11,762.80 N/A 0.00 11,762.80 N/A 0.00 Interest Income - Unrestricted 47,410.61 90,000.00 -42,589.39 -47.32 212,545.80 -165,135.19 -77.69 47,410.61 -42,589.39 -47.32 212,545.80 -165,135.19 -77.69 180,000.00 TOTAL OTHER INCOME 59,173.41 90,000.00 -30,826.59 -34.25 212,545.80 -153,372.39 -72.16 59,173.41 -30,826.59 -34.25 212,545.80 -153,372.39 -72.16 180,000.00 TOTAL OPERATING REVENUE 209,173.41 90,000.00 119,173.41 132.41 212,545.80 -3,372.39 -1.59 209,173.41 119,173.41 132.41 212,545.80 -3,372.39 -1.59 1,630,124.66 OPERATING EXPENSES INTRA-CO ALLOCATIONS TOTAL INTRA-Co ALLOCATIONS 540,377.02 611,993.24 71,616.22 11.70 518,054.66 -22,322.36 -4.31 540,377.02 71,616.22 11.70 518,054.66 -22,322.36 -4.31 1,223,986.46 DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Salaries & Wages 333,490.11 336,584.02 3,093.91 0.92 303,307.51 -30,182.60 -9.95 333,490.11 3,093.91 0.92 303,307.51 -30,182.60 -9.95 673,168.00 Total Benefits Expenses 65,521.01 77,413.96 11,892.95 15.36 63,621.63 -1,899.38 -2.99 65,521.01 11,892.95 15.36 63,621.63 -1,899.38 -2.99 154,828.00 Total Labor Expenses 399,011.12 413,997.98 14,986.86 3.62 366,929.14 -32,081.98 -8.74 399,011.12 14,986.86 3.62 366,929.14 -32,081.98 -8.74 827,996.00 Legal Expense Total Legal Expense 745.00 761.39 16.39 2.15 745.00 0.00 0.00 745.00 16.39 2.15 745.00 0.00 0.00 2,509.02 Other Administrative Expenses Total Other Administrative Expenses 5,311.93 16,770.00 11,458.07 68.32 5,643.94 332.01 5.88 5,311.93 11,458.07 68.32 5,643.94 332.01 5.88 33,820.00 Technology Expenses Total Technology Expenses 1,750.00 2,400.00 650.00 27.08 1,950.00 200.00 10.26 1,750.00 650.00 27.08 1,950.00 200.00 10.26 4,800.00 TOTAL ADMINISTRATIVE EXPENSES 406,818.05 433,929.37 27,111.32 6.25 375,268.08 -31,549.97 -8.41 406,818.05 27,111.32 6.25 375,268.08 -31,549.97 -8.41 869,125.02 GENERAL EXPENSES Resident Services Total Resident Services 140.00 0.00 -140.00 N/A 0.00 -140.00 N/A 140.00 -140.00 N/A 0.00 -140.00 N/A 0.00 Development Department - All (.develop) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 79 of 19499 EXHIBIT: BU|Development PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Development Department - All (.develop) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Utilities Expense Total Utility Expenses 21.70 0.00 -21.70 N/A 0.00 -21.70 N/A 21.70 -21.70 N/A 0.00 -21.70 N/A 0.00 Total Vehicle Expenses 0.00 701.87 701.87 100.00 1,723.14 1,723.14 100.00 0.00 701.87 100.00 1,723.14 1,723.14 100.00 1,363.99 Insurance & Taxes Expenses Total Tax & Insurance Expenses 690.48 735.00 44.52 6.06 639.48 -51.00 -7.98 690.48 44.52 6.06 639.48 -51.00 -7.98 1,470.00 Other General Expenses Total Other General Expenses 1,349.09 1,850.23 501.14 27.09 802.06 -547.03 -68.20 1,349.09 501.14 27.09 802.06 -547.03 -68.20 5,660.19 TOTAL GENERAL EXPENSES 2,201.27 3,287.10 1,085.83 33.03 3,164.68 963.41 30.44 2,201.27 1,085.83 33.03 3,164.68 963.41 30.44 8,494.18 TOTAL DIRECT OPERATING EXPENSES 409,019.32 437,216.47 28,197.15 6.45 378,432.76 -30,586.56 -8.08 409,019.32 28,197.15 6.45 378,432.76 -30,586.56 -8.08 877,619.20 TOTAL OPERATING EXPENSES 949,396.34 1,049,209.71 99,813.37 9.51 896,487.42 -52,908.92 -5.90 949,396.34 99,813.37 9.51 896,487.42 -52,908.92 -5.90 2,101,605.66 NET OPERATING INCOME -740,222.93 -959,209.71 218,986.78 22.83 -683,941.62 -56,281.31 -8.23 -740,222.93 218,986.78 22.83 -683,941.62 -56,281.31 -8.23 -471,481.00 NON-OPERATING INCOME | EXPENSE NON OPERATING INCOME TOTAL NON OPERATING INCOME 245,037.84 236,894.10 8,143.74 3.44 560,828.88 -315,791.04 -56.31 245,037.84 8,143.74 3.44 560,828.88 -315,791.04 -56.31 473,788.20 NON OPERATING EXPENSES 0 Total Interest Expense 0.00 250.02 250.02 100.00 15,346.50 15,346.50 100.00 0.00 250.02 100.00 15,346.50 15,346.50 100.00 500.00 TOTAL NON OPERATING EXPENSES 0.00 250.02 250.02 100.00 15,346.50 15,346.50 100.00 0.00 250.02 100.00 15,346.50 15,346.50 100.00 500.00 NET NON-OPERATING INCOME(EXPENSE)245,037.84 236,644.08 8,393.76 3.55 545,482.38 -300,444.54 -55.08 245,037.84 8,393.76 3.55 545,482.38 -300,444.54 -55.08 473,288.20 NET INCOME (LOSS)-495,185.09 -722,565.63 227,380.54 31.47 -138,459.24 -356,725.85 -257.64 -495,185.09 227,380.54 31.47 -138,459.24 -356,725.85 -257.64 1,807.20 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 80 of 194100 EXHIBIT: BU|General Funds PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME NET POTENTIAL RENT 5,316.42 6,462.48 -1,146.06 -17.73 4,359.60 956.82 21.95 5,316.42 -1,146.06 -17.73 4,359.60 956.82 21.95 12,924.96 NET RENTAL INCOME 5,316.42 6,462.48 -1,146.06 -17.73 4,359.60 956.82 21.95 5,316.42 -1,146.06 -17.73 4,359.60 956.82 21.95 12,924.96 EFFECTIVE GROSS INCOME 5,316.42 6,462.48 -1,146.06 -17.73 4,359.60 956.82 21.95 5,316.42 -1,146.06 -17.73 4,359.60 956.82 21.95 12,924.96 AGENCY REVENUE TOTAL AGENCY REVENUE 129,737.31 115,250.02 14,487.29 12.57 31,500.00 98,237.31 311.86 129,737.31 14,487.29 12.57 31,500.00 98,237.31 311.86 230,500.00 OTHER INCOME Miscellaneous Income 29,251.39 0.00 29,251.39 N/A 22,174.43 7,076.96 31.92 29,251.39 29,251.39 N/A 22,174.43 7,076.96 31.92 52,796.58 Bond Issuance Fees 0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 138,750.00 Bond Monitoring Fees 13,200.00 0.00 13,200.00 N/A 0.00 13,200.00 N/A 13,200.00 13,200.00 N/A 0.00 13,200.00 N/A 0.00 Special Limited Partner Fees 0.00 0.00 0.00 N/A 250,000.00 -250,000.00 -100.00 0.00 0.00 N/A 250,000.00 -250,000.00 -100.00 0.00 Interest Income - Unrestricted 53,873.88 15,054.00 38,819.88 257.87 33,269.85 20,604.03 61.93 53,873.88 38,819.88 257.87 33,269.85 20,604.03 61.93 30,084.00 TOTAL OTHER INCOME 96,325.27 15,054.00 81,271.27 539.86 305,444.28 -209,119.01 -68.46 96,325.27 81,271.27 539.86 305,444.28 -209,119.01 -68.46 221,630.58 Combin TOTAL OPERATING REVENUE 231,379.00 136,766.50 94,612.50 69.18 341,303.88 -109,924.88 -32.21 231,379.00 94,612.50 69.18 341,303.88 -109,924.88 -32.21 465,055.54 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Legal Expense Total Legal Expense 795.00 0.00 -795.00 N/A 0.00 -795.00 N/A 795.00 -795.00 N/A 0.00 -795.00 N/A 0.00 Other Administrative Expenses Total Other Administrative Expenses 390.59 0.00 -390.59 N/A 151.77 -238.82 -157.36 390.59 -390.59 N/A 151.77 -238.82 -157.36 0.00 TOTAL ADMINISTRATIVE EXPENSES 1,185.59 0.00 -1,185.59 N/A 151.77 -1,033.82 -681.18 1,185.59 -1,185.59 N/A 151.77 -1,033.82 -681.18 0.00 GENERAL EXPENSES Utilities Expense Total Utility Expenses 1,081.00 1,319.50 238.50 18.08 1,379.27 298.27 21.63 1,081.00 238.50 18.08 1,379.27 298.27 21.63 2,416.11 HC Gen Fund and all "Other" Miscellaneous Business (.genfund) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 81 of 194101 EXHIBIT: BU|General Funds PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual HC Gen Fund and all "Other" Miscellaneous Business (.genfund) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Maintenance Expenses Total General Maint Expense 9.34 0.00 -9.34 N/A 0.00 -9.34 N/A 9.34 -9.34 N/A 0.00 -9.34 N/A 0.00 Total Supplies | Materials 32.72 84.96 52.24 61.49 35.63 2.91 8.17 32.72 52.24 61.49 35.63 2.91 8.17 169.92 Total Contract Costs 6,892.77 7,591.91 699.14 9.21 7,099.05 206.28 2.91 6,892.77 699.14 9.21 7,099.05 206.28 2.91 15,234.91 Total Maintenance Expenses - Core 6,934.83 7,676.87 742.04 9.67 7,134.68 199.85 2.80 6,934.83 742.04 9.67 7,134.68 199.85 2.80 15,404.83 Total Maintenance Expenses 6,934.83 7,676.87 742.04 9.67 7,134.68 199.85 2.80 6,934.83 742.04 9.67 7,134.68 199.85 2.80 15,404.83 Insurance & Taxes Expenses Total Tax & Insurance Expenses 2,527.31 3,166.50 639.19 20.19 2,461.27 -66.04 -2.68 2,527.31 639.19 20.19 2,461.27 -66.04 -2.68 6,333.00 Other General Expenses Total Other General Expenses 252.79 323.55 70.76 21.87 360.02 107.23 29.78 252.79 70.76 21.87 360.02 107.23 29.78 17,914.32 TOTAL GENERAL EXPENSES 10,795.93 12,486.42 1,690.49 13.54 11,335.24 539.31 4.76 10,795.93 1,690.49 13.54 11,335.24 539.31 4.76 42,068.26 TOTAL DIRECT OPERATING EXPENSES 11,981.52 12,486.42 504.90 4.04 11,487.01 -494.51 -4.30 11,981.52 504.90 4.04 11,487.01 -494.51 -4.30 42,068.26 TOTAL OPERATING EXPENSES 11,981.52 12,486.42 504.90 4.04 11,487.01 -494.51 -4.30 11,981.52 504.90 4.04 11,487.01 -494.51 -4.30 42,068.26 NET OPERATING INCOME 219,397.48 124,280.08 95,117.40 76.53 329,816.87 -110,419.39 -33.48 219,397.48 95,117.40 76.53 329,816.87 -110,419.39 -33.48 422,987.28 NON-OPERATING INCOME | EXPENSE NON OPERATING INCOME TOTAL NON OPERATING INCOME 579,040.46 743,373.17 -164,332.71 -22.11 244,408.44 334,632.02 136.92 579,040.46 -164,332.71 -22.11 244,408.44 334,632.02 136.92 1,486,746.35 NON OPERATING EXPENSES 0 Total Interest Expense 102,407.69 101,447.16 -960.53 -0.95 112,792.54 10,384.85 9.21 102,407.69 -960.53 -0.95 112,792.54 10,384.85 9.21 193,022.04 24,675.06 24,675.06 0.00 0.00 24,675.06 0.00 0.00 24,675.06 0.00 0.00 24,675.06 0.00 0.00 49,350.13 25,000.00 25,000.02 0.02 0.00 0.00 -25,000.00 N/A 25,000.00 0.02 0.00 0.00 -25,000.00 N/A 50,000.04 TOTAL NON OPERATING EXPENSES 156,582.75 151,122.24 -5,460.51 -3.61 137,467.60 -19,115.15 -13.91 156,582.75 -5,460.51 -3.61 137,467.60 -19,115.15 -13.91 292,372.21 PARTNERSHIP INCOME(EXPENSES) TOTAL PARTNERSHIP INCOME(EXPENSES)0.00 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 0.00 0.00 N/A 55,269.80 NET NON-OPERATING INCOME(EXPENSE)422,457.71 592,250.93 -169,793.22 -28.67 106,940.84 315,516.87 295.04 422,457.71 -169,793.22 -28.67 106,940.84 315,516.87 295.04 1,249,643.94 NET INCOME (LOSS)641,855.19 716,531.01 -74,675.82 -10.42 436,757.71 205,097.48 46.96 641,855.19 -74,675.82 -10.42 436,757.71 205,097.48 46.96 1,672,631.22 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 82 of 194102 EXHIBIT: Budget Comparison|Vouchers PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES VOUCHER REVENUE Housing Choice Voucher HAP Earned 10,818,472 10,401,026 417,446 4 10,377,138 441,334 4 10,818,472 417,446 4 10,377,138 441,334 4 20,802,052 Housing Choice Voucher Admin. Fee Income 838,366 832,595 5,771 1 838,754 -388 0 838,366 5,771 1 838,754 -388 0 1,665,189 Housing Choice Voucher Port-In Admin Fees 13,903 0 13,903 N/A 7,554 6,349 84 13,903 13,903 N/A 7,554 6,349 84 0 1,000 0 1,000 N/A 0 1,000 N/A 1,000 1,000 N/A 0 1,000 N/A 0 TOTAL VOUCHER REVENUE 11,671,741 11,233,621 438,120 4 11,223,445 448,296 4 11,671,741 438,120 4 11,223,445 448,296 4 22,467,241 OTHER INCOME Fraud Recovery 1,776 462 1,314 285 972 804 83 1,776 1,314 285 972 804 83 924 Interest Income - Unrestricted 15,669 4,000 11,669 292 17,849 -2,180 -12 15,669 11,669 292 17,849 -2,180 -12 8,000 TOTAL OTHER INCOME 17,446 4,462 12,984 291 18,822 -1,376 -7 17,446 12,984 291 18,822 -1,376 -7 8,924 TOTAL OPERATING REVENUE 11,689,187 11,238,083 451,104 4 11,242,267 446,920 4 11,689,187 451,104 4 11,242,267 446,920 4 22,476,165 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Legal Expense Legal-Criminal Background Checks 2,188 1,660 -528 -32 1,564 -624 -40 2,188 -528 -32 1,564 -624 -40 2,929 Legal-Tenant Screening 0 581 581 100 240 240 100 0 581 100 240 240 100 1,765 Legal-General Expense 125 5,400 5,275 98 5,564 5,439 98 125 5,275 98 5,564 5,439 98 5,520 Total Legal Expense 2,313 7,641 5,328 70 7,368 5,055 69 2,313 5,328 70 7,368 5,055 69 10,214 Management Related Expense Voucher Management Expense 892,740 805,498 -87,242 -11 826,006 -66,734 -8 892,740 -87,242 -11 826,006 -66,734 -8 1,610,996 Total Management Related Expenses 892,740 805,498 -87,242 -11 826,006 -66,734 -8 892,740 -87,242 -11 826,006 -66,734 -8 1,610,996 Other Administrative Expenses Auditing & Tax Services 34,871 25,924 -8,947 -35 19,384 -15,487 -80 34,871 -8,947 -35 19,384 -15,487 -80 25,924 Port Out Admin Fee Paid 6,816 3,819 -2,996 -78 3,642 -3,174 -87 6,816 -2,996 -78 3,642 -3,174 -87 7,574 Total Other Administrative Expenses 41,687 29,743 -11,943 -40 23,026 -18,661 -81 41,687 -11,943 -40 23,026 -18,661 -81 33,498 TOTAL ADMINISTRATIVE EXPENSES 936,740 842,882 -93,858 -11 856,400 -80,340 -9 936,740 -93,858 -11 856,400 -80,340 -9 1,654,708 Property = .larimer .fchas8 Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 83 of 194103 EXHIBIT: Budget Comparison|Vouchers PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Property = .larimer .fchas8 Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Resident Services RS Client Assistance 3,500 0 -3,500 N/A 3,410 -90 -3 3,500 -3,500 N/A 3,410 -90 -3 0 Total Resident Services 3,500 0 -3,500 N/A 3,410 -90 -3 3,500 -3,500 N/A 3,410 -90 -3 0 Maintenance Expenses Contract-Inspections Services 18,987 9,405 -9,583 -102 10,883 -8,104 -74 18,987 -9,583 -102 10,883 -8,104 -74 18,944 Total Contract Costs 18,987 9,405 -9,583 -102 10,883 -8,104 -74 18,987 -9,583 -102 10,883 -8,104 -74 18,944 Total Maintenance Expenses - Core 18,987 9,405 -9,583 -102 10,883 -8,104 -74 18,987 -9,583 -102 10,883 -8,104 -74 18,944 Total Maintenance Expenses 18,987 9,405 -9,583 -102 10,883 -8,104 -74 18,987 -9,583 -102 10,883 -8,104 -74 18,944 TOTAL GENERAL EXPENSES 22,487 9,405 -13,083 -139 14,293 -8,195 -57 22,487 -13,083 -139 14,293 -8,195 -57 18,944 HOUSING ASSISTANCE PAYMENTS HAP: Housing Assistance Payments 10,396,816 10,226,324 -170,492 -2 10,067,186 -329,630 -3 10,396,816 -170,492 -2 10,067,186 -329,630 -3 20,452,647 Tenant Utility Payments 66,794 50,444 -16,350 -32 69,645 2,851 4 66,794 -16,350 -32 69,645 2,851 4 100,887 Portable Out HAP Payments 161,017 32,468 -128,549 -396 65,647 -95,370 -145 161,017 -128,549 -396 65,647 -95,370 -145 64,936 Family Self Sufficiency Escrow Payments 120,764 91,772 -28,992 -32 127,464 6,700 5 120,764 -28,992 -32 127,464 6,700 5 183,544 Security Deposit Assistance 0 250 250 100 0 0 N/A 0 250 100 0 0 N/A 500 TOTAL HOUSING ASSISTANCE PAYMENTS 10,745,391 10,401,257 -344,133 -3 10,329,942 -415,448 -4 10,745,391 -344,133 -3 10,329,942 -415,448 -4 20,802,514 MTW Expenses MTW Sign On Bonus 4,500 0 -4,500 N/A 0 -4,500 N/A 4,500 -4,500 N/A 0 -4,500 N/A 0 Total MTW Expenses 4,500 0 -4,500 N/A 0 -4,500 N/A 4,500 -4,500 N/A 0 -4,500 N/A 0 TOTAL DIRECT OPERATING EXPENSES 11,709,118 11,253,544 -455,574 -4 11,200,635 -508,483 -5 11,709,118 -455,574 -4 11,200,635 -508,483 -5 22,476,166 TOTAL OPERATING EXPENSES 11,709,118 11,253,544 -455,574 -4 11,200,635 -508,483 -5 11,709,118 -455,574 -4 11,200,635 -508,483 -5 22,476,166 NET OPERATING INCOME -19,931 -15,462 -4,470 -29 41,632 -61,563 -148 -19,931 -4,470 -29 41,632 -61,563 -148 -1 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Operating Transfers -4,500 0 4,500 N/A 0 4,500 N/A -4,500 4,500 N/A 0 4,500 N/A 0 TOTAL NON OPERATING EXPENSES -4,500 0 4,500 N/A 0 4,500 N/A -4,500 4,500 N/A 0 4,500 N/A 0 GAIN (LOSS) - SALES OF ASSETS Proceeds - Sale of Capital Assets 0 0 0 N/A 1,005 -1,005 -100 0 0 N/A 1,005 -1,005 -100 0 NET GAIN (LOSS) - SALE OF ASSETS 0 0 0 N/A 1,005 -1,005 -100 0 0 N/A 1,005 -1,005 -100 0 NET NON-OPERATING INCOME(EXPENSE)4,500 0 4,500 N/A 1,005 3,495 348 4,500 4,500 N/A 1,005 3,495 348 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 84 of 194104 EXHIBIT: Budget Comparison|Vouchers PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Property = .larimer .fchas8 Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is NET INCOME (LOSS)-15,431 -15,462 30 0 42,637 -58,068 -136 -15,431 30 0 42,637 -58,068 -136 -1 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 85 of 194105 EXHIBIT: DSCR Forecast by Property Investor/Lender US Bank NEF RBC RBC US Bank Red Stone RBC 1st Bank Unit Count 96 60 79 95 60 72 286 82 VILLAGES, LTD 2025 FORECASTED DSCR HORSETOOTH MASON OAK140 PLUM REDTAIL REDWOOD SHIELDS STANFORD $485,134 $129,730 $386,026 $690,839 $90,422 $192,277 $1,427,843 $181,096 $505,516 $152,735 $382,463 $703,232 $156,993 $173,548 $1,335,845 $265,126 Variance to Budget ($20,382)($23,005)$3,563 ($12,393)($66,571)$18,729 $91,998 ($84,030) $383,193 $123,791 $336,906 $345,510 $126,708 $148,971 $1,073,692 $154,664 NOI - Excess (Shortfall)$44,462 ($18,819)($1,416)$276,227 ($61,628)$20,961 $193,097 $3,232 Forecasted DSCR 1.27 1.05 1.15 2.00 0.71 1.29 1.33 1.17 1.15 1.20 1.15 1.20 1.20 1.15 1.15 1.15 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 86 of 194106 EXHIBIT: Budget Comparison|LIHTC PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 6,902,043 6,560,482 341,561 5 5,850,442 1,051,601 18 6,902,043 341,561 5 5,850,442 1,051,601 18 13,459,792 (Loss) Gain to Lease -345,173 -401,767 56,594 14 -176,292 -168,881 -96 -345,173 56,594 14 -176,292 -168,881 -96 -840,651 Less: Vacancies -543,790 -367,566 -176,224 -48 -322,451 -221,339 -69 -543,790 -176,224 -48 -322,451 -221,339 -69 -528,656 Less: Concessions -26,879 0 -26,879 N/A -1,476 -25,403 -1,721 -26,879 -26,879 N/A -1,476 -25,403 -1,721 0 Less: Prepaid Rents -823 0 -823 N/A -62 -761 -1,227 -823 -823 N/A -62 -761 -1,227 0 NET POTENTIAL RENT 5,985,378 5,791,149 194,229 3 5,350,161 635,217 12 5,985,378 194,229 3 5,350,161 635,217 12 12,090,485 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -1,302 2,502 -3,804 -152 -162,984 161,682 99 -1,302 -3,804 -152 -162,984 161,682 99 5,004 Less: Allowance for Doubtful Accounts -184,668 -167,199 -17,469 -10 0 -184,668 N/A -184,668 -17,469 -10 0 -184,668 N/A -338,380 Pet Rent 11,348 7,094 4,254 60 10,836 512 5 11,348 4,254 60 10,836 512 5 14,188 Storage Rent 40,509 71,070 -30,561 -43 39,797 712 2 40,509 -30,561 -43 39,797 712 2 142,140 Add: Recoveries 6,052 0 6,052 N/A 0 6,052 N/A 6,052 6,052 N/A 0 6,052 N/A 0 Repayment Agreement 1 763 0 763 N/A 1,281 -518 -40 763 763 N/A 1,281 -518 -40 0 NET POTENTIAL RENT ADJUSTMENTS -127,298 -86,533 -40,764 -47 -111,069 -16,228 -15 -127,298 -40,764 -47 -111,069 -16,228 -15 -177,048 NET RENTAL INCOME 5,858,080 5,704,616 153,464 3 5,239,092 618,989 12 5,858,080 153,464 3 5,239,092 618,989 12 11,913,437 OTHER TENANT INCOME Ancillary Income 4,017 4,849 -832 -17 2,470 1,547 63 4,017 -832 -17 2,470 1,547 63 9,698 Damages 48,755 35,046 13,710 39 74,551 -25,796 -35 48,755 13,710 39 74,551 -25,796 -35 70,091 Late Charges 17,333 16,818 515 3 14,850 2,483 17 17,333 515 3 14,850 2,483 17 33,637 Legal Fees - Tenant 19,051 21,727 -2,676 -12 20,566 -1,515 -7 19,051 -2,676 -12 20,566 -1,515 -7 43,455 NSF Charges 550 375 175 47 450 100 22 550 175 47 450 100 22 750 Utility Reimb.-Tenant 14,858 8,276 6,582 80 9,289 5,569 60 14,858 6,582 80 9,289 5,569 60 16,553 Misc.Tenant Income 5,092 6,899 -1,807 -26 4,633 459 10 5,092 -1,807 -26 4,633 459 10 13,798 Tenant Work Orders 102,793 46,779 56,014 120 56,850 45,943 81 102,793 56,014 120 56,850 45,943 81 93,558 TOTAL OTHER TENANT INCOME 212,450 140,770 71,680 51 183,658 28,791 16 212,450 71,680 51 183,658 28,791 16 281,540 EFFECTIVE GROSS INCOME 6,070,530 5,845,386 225,144 4 5,422,750 647,780 12 6,070,530 225,144 4 5,422,750 647,780 12 12,194,978 GRANT REVENUE LIHTC Properties (Current) (.lihtc) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 87 of 194107 EXHIBIT: Budget Comparison|LIHTC PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual LIHTC Properties (Current) (.lihtc) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Grants - HUD CoC 241,228 243,438 -2,210 -1 0 241,228 N/A 241,228 -2,210 -1 0 241,228 N/A 492,778 TOTAL GRANT REVENUE 241,228 243,438 -2,210 -1 0 241,228 N/A 241,228 -2,210 -1 0 241,228 N/A 492,778 OTHER INCOME Miscellaneous Income 5,947 5,895 52 1 9,691 -3,743 -39 5,947 52 1 9,691 -3,743 -39 11,790 Interest Income - Unrestricted 53,528 71,360 -17,832 -25 75,693 -22,165 -29 53,528 -17,832 -25 75,693 -22,165 -29 142,721 TOTAL OTHER INCOME 59,476 77,255 -17,779 -23 85,384 -25,908 -30 59,476 -17,779 -23 85,384 -25,908 -30 154,510 TOTAL OPERATING REVENUE 6,371,234 6,166,080 205,154 3 5,508,134 863,100 16 6,371,234 205,154 3 5,508,134 863,100 16 12,842,266 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 607,962 573,302 -34,661 -6 574,217 -33,745 -6 607,962 -34,661 -6 574,217 -33,745 -6 1,146,603 Total Labor Expenses 607,962 573,302 -34,661 -6 574,217 -33,745 -6 607,962 -34,661 -6 574,217 -33,745 -6 1,146,603 Legal Expense Legal-Criminal Background Checks 11,618 2,780 -8,838 -318 20 -11,598 -58,577 11,618 -8,838 -318 20 -11,598 -58,577 5,570 Legal-Tenant Screening 10 9,663 9,653 100 0 -10 N/A 10 9,653 100 0 -10 N/A 18,878 Legal-General Expense 44,328 23,607 -20,720 -88 36,362 -7,966 -22 44,328 -20,720 -88 36,362 -7,966 -22 45,243 Total Legal Expense 55,956 36,050 -19,906 -55 36,382 -19,574 -54 55,956 -19,906 -55 36,382 -19,574 -54 69,692 Management Related Expense Property Management Expense 480,065 462,839 -17,226 -4 414,998 -65,066 -16 480,065 -17,226 -4 414,998 -65,066 -16 964,471 Accounting/Bookkeeping Expense 295,005 285,080 -9,926 -3 248,629 -46,376 -19 295,005 -9,926 -3 248,629 -46,376 -19 596,338 Total Management Related Expenses 775,070 747,918 -27,152 -4 663,627 -111,443 -17 775,070 -27,152 -4 663,627 -111,443 -17 1,560,809 Other Administrative Expenses Staff Training & Conferences 769 750 -19 -3 4,572 3,804 83 769 -19 -3 4,572 3,804 83 1,500 Travel, Lodging & Per Diems 309 0 -309 N/A 0 -309 N/A 309 -309 N/A 0 -309 N/A 0 Mileage 1,859 1,424 -435 -31 973 -885 -91 1,859 -435 -31 973 -885 -91 2,847 Meals - Business Partners 75 0 -75 N/A 0 -75 N/A 75 -75 N/A 0 -75 N/A 0 Auditing & Tax Services 44,879 41,184 -3,695 -9 36,867 -8,012 -22 44,879 -3,695 -9 36,867 -8,012 -22 82,368 Tax Credit Monitoring 2,683 18,787 16,104 86 10,050 7,367 73 2,683 16,104 86 10,050 7,367 73 73,587 Marketing 327 452 125 28 0 -327 N/A 327 125 28 0 -327 N/A 2,863 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 88 of 194108 EXHIBIT: Budget Comparison|LIHTC PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual LIHTC Properties (Current) (.lihtc) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Resident Relocation 4,562 6,452 1,890 29 5,331 769 14 4,562 1,890 29 5,331 769 14 14,887 Parking Fees 25 0 -25 N/A 0 -25 N/A 25 -25 N/A 0 -25 N/A 0 Consultants 11,390 750 -10,640 -1,419 170 -11,220 -6,600 11,390 -10,640 -1,419 170 -11,220 -6,600 1,500 Security Services 124,285 168,388 44,103 26 77,407 -46,878 -61 124,285 44,103 26 77,407 -46,878 -61 336,775 Advertising 0 0 0 N/A 176 176 100 0 0 N/A 176 176 100 0 Miscellaneous Admin Expenses 1,962 500 -1,462 -292 769 -1,193 -155 1,962 -1,462 -292 769 -1,193 -155 1,000 Total Other Administrative Expenses 193,125 238,686 45,562 19 136,315 -56,809 -42 193,125 45,562 19 136,315 -56,809 -42 517,328 Technology Expenses Managed Services - Internal 59,784 59,777 -7 0 60,593 809 1 59,784 -7 0 60,593 809 1 119,555 Computers and Peripherals 0 0 0 N/A 1,175 1,175 100 0 0 N/A 1,175 1,175 100 0 Cable Services 1,619 2,484 865 35 6,328 4,710 74 1,619 865 35 6,328 4,710 74 4,968 Telephone - Landline|Virtual 18,699 17,834 -865 -5 18,201 -498 -3 18,699 -865 -5 18,201 -498 -3 35,668 Internet Services 29,617 32,999 3,382 10 24,413 -5,204 -21 29,617 3,382 10 24,413 -5,204 -21 65,995 Cellular - Phones | Tablets 2,544 2,150 -394 -18 3,330 786 24 2,544 -394 -18 3,330 786 24 4,299 Total Technology Expenses 112,263 115,244 2,981 3 114,040 1,777 2 112,263 2,981 3 114,040 1,777 2 230,485 Compliance Expenses Compliance Services - Internal 41,004 41,000 -4 0 87,083 46,079 53 41,004 -4 0 87,083 46,079 53 82,000 Compliance Services - Consultants 8,395 18,673 10,278 55 3,550 -4,845 -136 8,395 10,278 55 3,550 -4,845 -136 36,620 Total Compliance Expenses 49,399 59,673 10,274 17 90,633 41,234 45 49,399 10,274 17 90,633 41,234 45 118,620 TOTAL ADMINISTRATIVE EXPENSES 1,793,775 1,770,873 -22,902 -1 1,615,214 -178,560 -11 1,793,775 -22,902 -1 1,615,214 -178,560 -11 3,643,537 GENERAL EXPENSES Resident Services Resident Services - Internal 498,258 519,353 21,095 4 344,352 -153,906 -45 498,258 21,095 4 344,352 -153,906 -45 1,038,706 RS - Discretionary Mission-Driven Support -58,500 -177,092 -118,592 -67 0 58,500 N/A -58,500 -118,592 -67 0 58,500 N/A -354,184 Resident Programming 29 0 -29 N/A 294 265 90 29 -29 N/A 294 265 90 0 RS Client Assistance 457 0 -457 N/A 580 122 21 457 -457 N/A 580 122 21 0 Resident Services - External 2,856 0 -2,856 N/A 0 -2,856 N/A 2,856 -2,856 N/A 0 -2,856 N/A 0 RS - Grant Expenses 241,228 243,438 2,210 1 0 -241,228 N/A 241,228 2,210 1 0 -241,228 N/A 492,778 Total Resident Services 684,329 585,700 -98,629 -17 345,225 -339,103 -98 684,329 -98,629 -17 345,225 -339,103 -98 1,177,300 Utilities Expense Water 169,928 219,571 49,643 23 181,231 11,304 6 169,928 49,643 23 181,231 11,304 6 445,643 Electricity 133,655 134,822 1,167 1 157,384 23,729 15 133,655 1,167 1 157,384 23,729 15 269,644 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 89 of 194109 EXHIBIT: Budget Comparison|LIHTC PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual LIHTC Properties (Current) (.lihtc) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Electricity-Vacant Units 11,136 4,622 -6,514 -141 4,076 -7,060 -173 11,136 -6,514 -141 4,076 -7,060 -173 9,244 Gas 37,996 34,775 -3,221 -9 40,894 2,898 7 37,996 -3,221 -9 40,894 2,898 7 69,550 Gas-Vacant Units 496 5,175 4,679 90 3,203 2,707 85 496 4,679 90 3,203 2,707 85 10,350 Trash Removal Services 71,652 71,025 -627 -1 65,790 -5,862 -9 71,652 -627 -1 65,790 -5,862 -9 141,459 Total Utility Expenses 424,863 469,989 45,126 10 452,579 27,716 6 424,863 45,126 10 452,579 27,716 6 945,889 Maintenance Expenses Maintenance - On Call 1,009 0 -1,009 N/A 0 -1,009 N/A 1,009 -1,009 N/A 0 -1,009 N/A 179 Tools and Equipment 0 327 327 100 320 320 100 0 327 100 320 320 100 507 Equipment Rentals 181 0 -181 N/A 294 113 38 181 -181 N/A 294 113 38 0 Total General Maint Expense 1,191 327 -864 -264 614 -577 -94 1,191 -864 -264 614 -577 -94 686 Supplies-Grounds 10,101 13,949 3,848 28 8,675 -1,426 -16 10,101 3,848 28 8,675 -1,426 -16 27,897 Supplies-Appliances 12,194 6,564 -5,629 -86 8,440 -3,754 -44 12,194 -5,629 -86 8,440 -3,754 -44 13,128 Supplies-Electrical 16,960 12,659 -4,301 -34 36,931 19,971 54 16,960 -4,301 -34 36,931 19,971 54 25,209 Supplies-Pest Control 258 443 185 42 531 273 51 258 185 42 531 273 51 887 Supplies-Janitorial 7,005 8,794 1,790 20 6,225 -780 -13 7,005 1,790 20 6,225 -780 -13 17,589 Supplies-General 4,628 4,306 -322 -7 4,833 205 4 4,628 -322 -7 4,833 205 4 8,612 Supplies-Plumbing 9,380 13,099 3,719 28 11,988 2,608 22 9,380 3,719 28 11,988 2,608 22 26,197 Supplies-Paint 964 0 -964 N/A 11,986 11,022 92 964 -964 N/A 11,986 11,022 92 0 Supplies-HVAC 1,402 7,092 5,690 80 6,522 5,120 79 1,402 5,690 80 6,522 5,120 79 14,184 Supplies-Doors 12,984 14,163 1,179 8 15,022 2,038 14 12,984 1,179 8 15,022 2,038 14 28,327 Supplies-Windows 3,167 5,240 2,073 40 2,931 -236 -8 3,167 2,073 40 2,931 -236 -8 10,479 Total Supplies | Materials 79,042 86,309 7,267 8 114,083 35,042 31 79,042 7,267 8 114,083 35,042 31 172,510 Contract-Work Orders - Internal 251,614 204,683 -46,931 -23 285,953 34,339 12 251,614 -46,931 -23 285,953 34,339 12 409,366 Contract-Preventative - Internal 96,299 96,800 501 1 188,332 92,033 49 96,299 501 1 188,332 92,033 49 193,600 Contract-Inspections Services 200 0 -200 N/A 0 -200 N/A 200 -200 N/A 0 -200 N/A 0 Contract-System Services 63,516 58,984 -4,532 -8 52,532 -10,984 -21 63,516 -4,532 -8 52,532 -10,984 -21 84,333 Contract-Appliance 8,991 9,559 568 6 9,915 924 9 8,991 568 6 9,915 924 9 20,163 Contract-Roof|Gutter 845 0 -845 N/A 0 -845 N/A 845 -845 N/A 0 -845 N/A 0 Contract-Carpet Cleaning 2,130 1,747 -383 -22 1,075 -1,055 -98 2,130 -383 -22 1,075 -1,055 -98 4,327 Contract-Electrical 10,561 7,624 -2,937 -39 7,136 -3,425 -48 10,561 -2,937 -39 7,136 -3,425 -48 14,903 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 90 of 194110 EXHIBIT: Budget Comparison|LIHTC PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual LIHTC Properties (Current) (.lihtc) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Contract-Pest Control 18,508 17,262 -1,246 -7 9,412 -9,096 -97 18,508 -1,246 -7 9,412 -9,096 -97 34,921 Contract-Flooring 234 1,131 898 79 1,382 1,148 83 234 898 79 1,382 1,148 83 2,938 Contract-Grounds 200,033 219,773 19,740 9 178,085 -21,948 -12 200,033 19,740 9 178,085 -21,948 -12 434,546 Contract-Janitorial 53,435 57,145 3,710 6 49,014 -4,421 -9 53,435 3,710 6 49,014 -4,421 -9 114,290 Contract-Plumbing 33,805 33,035 -770 -2 31,827 -1,977 -6 33,805 -770 -2 31,827 -1,977 -6 66,457 Contract-HVAC 17,254 13,201 -4,053 -31 14,030 -3,224 -23 17,254 -4,053 -31 14,030 -3,224 -23 26,747 Contract-Windows 3,713 1,867 -1,847 -99 1,509 -2,204 -146 3,713 -1,847 -99 1,509 -2,204 -146 2,816 Contract-Elevators 12,298 4,569 -7,728 -169 4,018 -8,279 -206 12,298 -7,728 -169 4,018 -8,279 -206 10,513 Contract-Alarms 0 497 497 100 0 0 N/A 0 497 100 0 0 N/A 995 Contract-General 52,268 90,209 37,941 42 55,870 3,602 6 52,268 37,941 42 55,870 3,602 6 130,003 Total Contract Costs 825,703 818,086 -7,616 -1 890,091 64,389 7 825,703 -7,616 -1 890,091 64,389 7 1,550,918 Total Maintenance Expenses - Core 905,935 904,722 -1,213 0 1,004,789 98,854 10 905,935 -1,213 0 1,004,789 98,854 10 1,724,114 Unit Turn-Work Order 78,370 58,140 -20,230 -35 60,675 -17,695 -29 78,370 -20,230 -35 60,675 -17,695 -29 116,280 Unit Turn-External 169,732 96,900 -72,832 -75 113,420 -56,312 -50 169,732 -72,832 -75 113,420 -56,312 -50 193,800 Unit Turn Materials 27,619 27,360 -259 -1 0 -27,619 N/A 27,619 -259 -1 0 -27,619 N/A 54,720 Total Unit Turn Costs 275,721 182,400 -93,321 -51 174,095 -101,626 -58 275,721 -93,321 -51 174,095 -101,626 -58 364,800 Reasonable Accomodations Reasonable Accom - Supplies 0 0 0 N/A 1,530 1,530 100 0 0 N/A 1,530 1,530 100 0 Total Reasonable Accomodations 0 0 0 N/A 1,530 1,530 100 0 0 N/A 1,530 1,530 100 0 Total Maintenance Expenses 1,181,656 1,087,122 -94,534 -9 1,180,414 -1,242 0 1,181,656 -94,534 -9 1,180,414 -1,242 0 2,088,914 DNU-Facility Costs DNU-Total Facility Costs 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 0 Vehicle-Fuel 140 0 -140 N/A 0 -140 N/A 140 -140 N/A 0 -140 N/A 0 Total Vehicle Expenses 140 0 -140 N/A 0 -140 N/A 140 -140 N/A 0 -140 N/A 0 Insurance & Taxes Expenses Insurance - Property 305,608 288,352 -17,256 -6 308,135 2,527 1 305,608 -17,256 -6 308,135 2,527 1 576,705 Insurance - Liability 19,954 24,980 5,025 20 0 -19,954 N/A 19,954 5,025 20 0 -19,954 N/A 49,959 Insurance - Umbrella 24,823 29,244 4,421 15 0 -24,823 N/A 24,823 4,421 15 0 -24,823 N/A 58,488 Insurance - Specialty | Other 4,520 0 -4,520 N/A 0 -4,520 N/A 4,520 -4,520 N/A 0 -4,520 N/A 0 Total Tax & Insurance Expenses 354,905 342,576 -12,329 -4 308,135 -46,770 -15 354,905 -12,329 -4 308,135 -46,770 -15 685,152 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 91 of 194111 EXHIBIT: Budget Comparison|LIHTC PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual LIHTC Properties (Current) (.lihtc) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Other General Expenses Membership and Fees 1,424 1,172 -252 -22 1,107 -317 -29 1,424 -252 -22 1,107 -317 -29 1,614 Bank Fees 1,662 1,578 -84 -5 2,447 785 32 1,662 -84 -5 2,447 785 32 4,182 Filing Fees 75 71 -4 -5 30 -45 -150 75 -4 -5 30 -45 -150 184 Office Supplies 4,837 8,839 4,003 45 5,372 535 10 4,837 4,003 45 5,372 535 10 15,940 Copier and Printer Usage | Supplies 9,521 6,399 -3,122 -49 7,423 -2,098 -28 9,521 -3,122 -49 7,423 -2,098 -28 13,396 Postage Usage | Supplies 60 765 705 92 433 373 86 60 705 92 433 373 86 1,591 Small Office Equipment 130 402 272 68 65 -65 -99 130 272 68 65 -65 -99 533 Meetings Expenses 694 629 -65 -10 534 -160 -30 694 -65 -10 534 -160 -30 1,035 Miscellaneous General Expense 0 8,094 8,094 100 4,526 4,526 100 0 8,094 100 4,526 4,526 100 10,248 Facilities Rent 3,646 3,346 -300 -9 3,646 0 0 3,646 -300 -9 3,646 0 0 5,932 Total Other General Expenses 22,047 31,295 9,248 30 25,582 3,534 14 22,047 9,248 30 25,582 3,534 14 54,655 Reserve Allowances Reserve Account Funding Allowance 159,492 157,892 -1,600 -1 144,764 -14,728 -10 159,492 -1,600 -1 144,764 -14,728 -10 315,785 Total Reserve Allowances 159,492 157,892 -1,600 -1 144,764 -14,728 -10 159,492 -1,600 -1 144,764 -14,728 -10 315,785 TOTAL GENERAL EXPENSES 2,827,433 2,674,575 -152,858 -6 2,456,699 -370,734 -15 2,827,433 -152,858 -6 2,456,699 -370,734 -15 5,267,694 TOTAL DIRECT OPERATING EXPENSES 4,621,208 4,445,448 -175,760 -4 4,071,913 -549,294 -13 4,621,208 -175,760 -4 4,071,913 -549,294 -13 8,911,231 TOTAL OPERATING EXPENSES 4,621,208 4,445,448 -175,760 -4 4,071,913 -549,294 -13 4,621,208 -175,760 -4 4,071,913 -549,294 -13 8,911,231 NET OPERATING INCOME 1,750,026 1,720,632 29,395 2 1,436,221 313,806 22 1,750,026 29,395 2 1,436,221 313,806 22 3,931,035 NON-OPERATING INCOME | EXPENSE NON OPERATING INCOME TOTAL NON OPERATING INCOME 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 0 NON OPERATING EXPENSES Interest Expense - Soft Loans 819,672 828,446 8,774 1 734,411 -85,260 -12 819,672 8,774 1 734,411 -85,260 -12 1,656,892 Interest Expense - Hard Loans 827,871 855,553 27,682 3 848,108 20,237 2 827,871 27,682 3 848,108 20,237 2 1,717,053 Interest Expense - Other 19,992 5,431 -14,560 -268 19,949 -43 0 19,992 -14,560 -268 19,949 -43 0 10,863 Interest Expense - Loan Fees 55,929 55,929 0 0 55,929 0 0 55,929 0 0 55,929 0 0 111,858 1,723,464 1,745,360 21,896 1 1,658,398 -65,066 -4 1,723,464 21,896 1 1,658,398 -65,066 -4 3,496,666 Depreciation - Buildings 2,813,975 2,813,978 3 0 2,813,978 3 0 2,813,975 3 0 2,813,978 3 0 5,627,956 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 92 of 194112 EXHIBIT: Budget Comparison|LIHTC PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual LIHTC Properties (Current) (.lihtc) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Depreciation - Furn,Fix,Equip - Units 245,586 200,261 -45,325 -23 212,059 -33,528 -16 245,586 -45,325 -23 212,059 -33,528 -16 400,522 Depreciation - Furn,Fix,Equip - Common 96,851 101,695 4,844 5 93,489 -3,362 -4 96,851 4,844 5 93,489 -3,362 -4 203,389 Depreciation - Improvements 315,361 320,401 5,040 2 312,537 -2,824 -1 315,361 5,040 2 312,537 -2,824 -1 640,802 Amortization - Tax Credit Fees 36,215 36,215 0 0 36,215 0 0 36,215 0 0 36,215 0 0 72,429 3,507,989 3,472,550 -35,439 -1 3,468,278 -39,711 -1 3,507,989 -35,439 -1 3,468,278 -39,711 -1 6,945,098 Resident Services - Pd from Reserves 50,000 50,000 0 0 49,999 -1 0 50,000 0 0 49,999 -1 0 100,000 COVID 19 Expenses 162 0 -162 N/A 0 -162 N/A 162 -162 N/A 0 -162 N/A 0 TOTAL NON OPERATING EXPENSES 5,281,615 5,267,910 -13,705 0 5,176,675 -104,940 -2 5,281,615 -13,705 0 5,176,675 -104,940 -2 10,541,765 PARTNERSHIP INCOME(EXPENSES) Partnership Expenses 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A -58,658 Partnership - Management Fee Expense -5,358 0 -5,358 N/A 0 -5,358 N/A -5,358 -5,358 N/A 0 -5,358 N/A 0 TOTAL PARTNERSHIP INCOME(EXPENSES)-5,358 0 -5,358 N/A 0 -5,358 N/A -5,358 -5,358 N/A 0 -5,358 N/A -58,658 NET NON-OPERATING INCOME(EXPENSE)-5,286,973 -5,267,910 -19,063 0 -5,176,675 -110,298 -2 -5,286,973 -19,063 0 -5,176,675 -110,298 -2 -10,600,423 NET INCOME (LOSS)-3,536,947 -3,547,278 10,331 0 -3,740,454 203,508 5 -3,536,947 10,331 0 -3,740,454 203,508 5 -6,669,388 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 93 of 194113 EXHIBIT: Horsetooth - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 817,344 831,008 -13,664 -2 702,983 114,361 16 817,344 -13,664 -2 702,983 114,361 16 1,685,058 (Loss) Gain to Lease -42,335 -60,358 18,023 30 -41,320 -1,015 -2 -42,335 18,023 30 -41,320 -1,015 -2 -129,025 Less: Vacancies -21,488 -24,931 3,443 14 -24,498 3,010 12 -21,488 3,443 14 -24,498 3,010 12 -50,551 Less: Prepaid Rents -823 0 -823 N/A -51 -772 -1,514 -823 -823 N/A -51 -772 -1,514 0 NET POTENTIAL RENT 752,698 745,719 6,979 1 637,114 115,584 18 752,698 6,979 1 637,114 115,584 18 1,505,482 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -100 0 -100 N/A -25,083 24,983 100 -100 -100 N/A -25,083 24,983 100 0 Less: Allowance for Doubtful Accounts -22,068 -22,437 369 2 0 -22,068 N/A -22,068 369 2 0 -22,068 N/A -45,497 Pet Rent 922 1,440 -518 -36 1,468 -546 -37 922 -518 -36 1,468 -546 -37 2,880 Repayment Agreement 1 763 0 763 N/A 30 733 2,443 763 763 N/A 30 733 2,443 0 NET POTENTIAL RENT ADJUSTMENTS -20,483 -20,997 514 2 -23,585 3,102 13 -20,483 514 2 -23,585 3,102 13 -42,617 NET RENTAL INCOME 732,215 724,722 7,493 1 613,529 118,686 19 732,215 7,493 1 613,529 118,686 19 1,462,865 OTHER TENANT INCOME Ancillary Income 251 340 -88 -26 299 -48 -16 251 -88 -26 299 -48 -16 680 Late Charges 1,806 1,863 -57 -3 1,300 506 39 1,806 -57 -3 1,300 506 39 3,725 Legal Fees - Tenant 0 6,327 -6,327 -100 4,786 -4,786 -100 0 -6,327 -100 4,786 -4,786 -100 12,654 NSF Charges 75 25 50 200 50 25 50 75 50 200 50 25 50 50 Utility Reimb.-Tenant 1,099 1,606 -507 -32 1,294 -195 -15 1,099 -507 -32 1,294 -195 -15 3,211 Misc.Tenant Income 542 175 367 210 -49 591 1,206 542 367 210 -49 591 1,206 350 Tenant Work Orders 5,824 15,765 -9,941 -63 21,649 -15,825 -73 5,824 -9,941 -63 21,649 -15,825 -73 31,530 TOTAL OTHER TENANT INCOME 9,597 26,100 -16,502 -63 29,329 -19,732 -67 9,597 -16,502 -63 29,329 -19,732 -67 52,200 EFFECTIVE GROSS INCOME 741,812 750,822 -9,010 -1 642,858 98,954 15 741,812 -9,010 -1 642,858 98,954 15 1,515,065 OTHER INCOME Miscellaneous Income 0 0 0 N/A 2,257 -2,257 -100 0 0 N/A 2,257 -2,257 -100 0 Interest Income - Unrestricted 3,429 4,733 -1,304 -28 4,754 -1,324 -28 3,429 -1,304 -28 4,754 -1,324 -28 9,466 TOTAL OTHER INCOME 3,429 4,733 -1,304 -28 7,010 -3,581 -51 3,429 -1,304 -28 7,010 -3,581 -51 9,466 TOTAL OPERATING REVENUE 745,241 755,554 -10,313 -1 649,868 95,373 15 745,241 -10,313 -1 649,868 95,373 15 1,524,531 Village on Horsetooth, LLLP (.vohttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 94 of 194114 EXHIBIT: Horsetooth - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Horsetooth, LLLP (.vohttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 69,324 69,323 -1 0 36,270 -33,054 -91 69,324 -1 0 36,270 -33,054 -91 138,646 Total Labor Expenses 69,324 69,323 -1 0 36,270 -33,054 -91 69,324 -1 0 36,270 -33,054 -91 138,646 Legal Expense Legal-Criminal Background Checks 280 0 -280 N/A 0 -280 N/A 280 -280 N/A 0 -280 N/A 0 Legal-Tenant Screening 0 1,265 1,265 100 0 0 N/A 0 1,265 100 0 0 N/A 2,335 Legal-General Expense 1,892 5,426 3,534 65 4,936 3,044 62 1,892 3,534 65 4,936 3,044 62 13,972 Total Legal Expense 2,172 6,691 4,519 68 4,936 2,764 56 2,172 4,519 68 4,936 2,764 56 16,307 Management Related Expense Property Management Expense 61,769 60,219 -1,549 -3 51,087 -10,682 -21 61,769 -1,549 -3 51,087 -10,682 -21 120,439 Accounting/Bookkeeping Expense 69,490 67,747 -1,743 -3 57,472 -12,017 -21 69,490 -1,743 -3 57,472 -12,017 -21 135,493 Total Management Related Expenses 131,258 127,966 -3,292 -3 108,559 -22,699 -21 131,258 -3,292 -3 108,559 -22,699 -21 255,932 Other Administrative Expenses Mileage 185 0 -185 N/A 0 -185 N/A 185 -185 N/A 0 -185 N/A 0 Auditing & Tax Services 5,596 5,148 -448 -9 4,902 -695 -14 5,596 -448 -9 4,902 -695 -14 10,296 Tax Credit Monitoring 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 5,621 Resident Relocation 2,955 43 -2,912 -6,823 0 -2,955 N/A 2,955 -2,912 -6,823 0 -2,955 N/A 1,876 Consultants 0 0 0 N/A 70 70 100 0 0 N/A 70 70 100 0 Security Services 632 2,310 1,678 73 1,330 698 52 632 1,678 73 1,330 698 52 4,620 Miscellaneous Admin Expenses 246 0 -246 N/A 50 -196 -392 246 -246 N/A 50 -196 -392 0 Total Other Administrative Expenses 9,614 7,501 -2,113 -28 6,351 -3,263 -51 9,614 -2,113 -28 6,351 -3,263 -51 22,413 Technology Expenses Managed Services - Internal 7,230 7,228 -2 0 3,822 -3,408 -89 7,230 -2 0 3,822 -3,408 -89 14,456 Cable Services 0 0 0 N/A -134 -134 -100 0 0 N/A -134 -134 -100 0 Telephone - Landline|Virtual 4,974 4,907 -66 -1 4,466 -508 -11 4,974 -66 -1 4,466 -508 -11 9,815 Internet Services 8,236 6,264 -1,972 -31 7,716 -520 -7 8,236 -1,972 -31 7,716 -520 -7 12,528 Cellular - Phones | Tablets 124 0 -124 N/A 483 359 74 124 -124 N/A 483 359 74 0 Total Technology Expenses 20,564 18,400 -2,164 -12 16,354 -4,210 -26 20,564 -2,164 -12 16,354 -4,210 -26 36,799 Compliance Expenses Compliance Services - Internal 4,722 4,719 -3 0 11,166 6,444 58 4,722 -3 0 11,166 6,444 58 9,439 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 95 of 194115 EXHIBIT: Horsetooth - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Horsetooth, LLLP (.vohttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Compliance Services - Consultants 640 2,565 1,925 75 600 -40 -7 640 1,925 75 600 -40 -7 5,625 Total Compliance Expenses 5,362 7,284 1,922 26 11,766 6,404 54 5,362 1,922 26 11,766 6,404 54 15,064 TOTAL ADMINISTRATIVE EXPENSES 238,294 237,165 -1,129 0 184,236 -54,058 -29 238,294 -1,129 0 184,236 -54,058 -29 485,161 GENERAL EXPENSES Resident Services Resident Services - Internal 26,400 26,400 0 0 0 -26,400 N/A 26,400 0 0 0 -26,400 N/A 52,800 Resident Services - External 384 0 -384 N/A 0 -384 N/A 384 -384 N/A 0 -384 N/A 0 Total Resident Services 26,784 26,400 -384 -1 0 -26,784 N/A 26,784 -384 -1 0 -26,784 N/A 52,800 Utilities Expense Water 25,746 27,898 2,151 8 28,625 2,879 10 25,746 2,151 8 28,625 2,879 10 55,795 Electricity 10,939 12,073 1,134 9 18,346 7,407 40 10,939 1,134 9 18,346 7,407 40 24,146 Electricity-Vacant Units 454 634 180 28 588 134 23 454 180 28 588 134 23 1,267 Gas 1,064 737 -327 -44 1,309 246 19 1,064 -327 -44 1,309 246 19 1,474 Gas-Vacant Units 15 331 316 95 303 288 95 15 316 95 303 288 95 663 Trash Removal Services 11,033 10,931 -102 -1 11,492 459 4 11,033 -102 -1 11,492 459 4 21,863 Total Utility Expenses 49,251 52,604 3,353 6 60,663 11,413 19 49,251 3,353 6 60,663 11,413 19 105,208 Maintenance Expenses Maintenance - On Call 80 0 -80 N/A 0 -80 N/A 80 -80 N/A 0 -80 N/A 0 Total General Maint Expense 80 0 -80 N/A 0 -80 N/A 80 -80 N/A 0 -80 N/A 0 Supplies-Grounds 2,034 1,300 -734 -56 1,468 -566 -39 2,034 -734 -56 1,468 -566 -39 2,600 Supplies-Appliances 1,258 702 -557 -79 667 -592 -89 1,258 -557 -79 667 -592 -89 1,403 Supplies-Electrical 1,456 2,311 855 37 2,423 967 40 1,456 855 37 2,423 967 40 4,622 Supplies-Pest Control 46 35 -11 -31 11 -34 -296 46 -11 -31 11 -34 -296 69 Supplies-Janitorial 666 932 266 29 958 292 30 666 266 29 958 292 30 1,863 Supplies-General 400 821 421 51 245 -155 -63 400 421 51 245 -155 -63 1,642 Supplies-Plumbing 2,801 2,458 -343 -14 2,458 -342 -14 2,801 -343 -14 2,458 -342 -14 4,916 Supplies-Paint 70 0 -70 N/A 3,113 3,042 98 70 -70 N/A 3,113 3,042 98 0 Supplies-HVAC 248 1,827 1,580 86 2,076 1,828 88 248 1,580 86 2,076 1,828 88 3,655 Supplies-Doors 845 1,698 853 50 1,527 682 45 845 853 50 1,527 682 45 3,396 Supplies-Windows 1,694 1,774 81 5 640 -1,054 -165 1,694 81 5 640 -1,054 -165 3,548 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 96 of 194116 EXHIBIT: Horsetooth - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Horsetooth, LLLP (.vohttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Supplies | Materials 11,517 13,857 2,340 17 15,587 4,070 26 11,517 2,340 17 15,587 4,070 26 27,714 Contract-Work Orders - Internal 30,062 24,597 -5,465 -22 43,115 13,053 30 30,062 -5,465 -22 43,115 13,053 30 49,194 Contract-Preventative - Internal 11,650 11,650 0 0 24,198 12,548 52 11,650 0 0 24,198 12,548 52 23,300 Contract-System Services 17,174 4,203 -12,971 -309 4,113 -13,061 -318 17,174 -12,971 -309 4,113 -13,061 -318 7,388 Contract-Appliance 2,301 1,823 -478 -26 2,024 -277 -14 2,301 -478 -26 2,024 -277 -14 3,343 Contract-Carpet Cleaning 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 421 Contract-Electrical 3,085 1,671 -1,414 -85 1,671 -1,413 -85 3,085 -1,414 -85 1,671 -1,413 -85 3,342 Contract-Pest Control 1,878 2,020 142 7 1,050 -828 -79 1,878 142 7 1,050 -828 -79 4,040 Contract-Grounds 30,443 28,435 -2,008 -7 22,213 -8,229 -37 30,443 -2,008 -7 22,213 -8,229 -37 52,870 Contract-Janitorial 4,818 4,938 120 2 4,015 -803 -20 4,818 120 2 4,015 -803 -20 9,877 Contract-Plumbing 7,487 3,553 -3,934 -111 3,208 -4,279 -133 7,487 -3,934 -111 3,208 -4,279 -133 5,914 Contract-HVAC 1,550 1,147 -404 -35 2,138 588 27 1,550 -404 -35 2,138 588 27 2,293 Contract-Windows 0 650 650 100 636 636 100 0 650 100 636 636 100 650 Contract-General 13,593 15,438 1,846 12 9,425 -4,168 -44 13,593 1,846 12 9,425 -4,168 -44 16,974 Total Contract Costs 124,041 100,125 -23,916 -24 117,806 -6,235 -5 124,041 -23,916 -24 117,806 -6,235 -5 179,606 Total Maintenance Expenses - Core 135,639 113,982 -21,657 -19 133,393 -2,246 -2 135,639 -21,657 -19 133,393 -2,246 -2 207,320 Unit Turn-Work Order 7,225 9,180 1,955 21 7,838 612 8 7,225 1,955 21 7,838 612 8 18,360 Unit Turn-External 11,637 15,300 3,663 24 27,273 15,636 57 11,637 3,663 24 27,273 15,636 57 30,600 Unit Turn Materials 3,388 4,320 932 22 0 -3,388 N/A 3,388 932 22 0 -3,388 N/A 8,640 Total Unit Turn Costs 22,250 28,800 6,550 23 35,110 12,860 37 22,250 6,550 23 35,110 12,860 37 57,600 Total Maintenance Expenses 157,889 142,782 -15,107 -11 168,504 10,614 6 157,889 -15,107 -11 168,504 10,614 6 264,920 Insurance & Taxes Expenses Insurance - Property 35,549 32,294 -3,255 -10 40,884 5,335 13 35,549 -3,255 -10 40,884 5,335 13 64,587 Insurance - Liability 2,114 2,769 655 24 0 -2,114 N/A 2,114 655 24 0 -2,114 N/A 5,538 Insurance - Umbrella 2,799 2,840 41 1 0 -2,799 N/A 2,799 41 1 0 -2,799 N/A 5,679 Total Tax & Insurance Expenses 40,461 37,902 -2,559 -7 40,884 422 1 40,461 -2,559 -7 40,884 422 1 75,804 Other General Expenses Filing Fees 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 10 Office Supplies 206 600 394 66 45 -161 -360 206 394 66 45 -161 -360 1,200 Copier and Printer Usage | Supplies 285 497 212 43 498 213 43 285 212 43 498 213 43 1,080 Miscellaneous General Expense 0 1,152 1,152 100 0 0 N/A 0 1,152 100 0 0 N/A 1,152 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 97 of 194117 EXHIBIT: Horsetooth - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Horsetooth, LLLP (.vohttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Other General Expenses 491 2,249 1,758 78 543 52 10 491 1,758 78 543 52 10 3,442 Reserve Allowances Reserve Account Funding Allowance 15,840 15,840 0 0 15,840 0 0 15,840 0 0 15,840 0 0 31,680 Total Reserve Allowances 15,840 15,840 0 0 15,840 0 0 15,840 0 0 15,840 0 0 31,680 TOTAL GENERAL EXPENSES 290,717 277,777 -12,939 -5 286,434 -4,283 -1 290,717 -12,939 -5 286,434 -4,283 -1 533,854 TOTAL DIRECT OPERATING EXPENSES 529,011 514,942 -14,068 -3 470,669 -58,341 -12 529,011 -14,068 -3 470,669 -58,341 -12 1,019,015 TOTAL OPERATING EXPENSES 529,011 514,942 -14,068 -3 470,669 -58,341 -12 529,011 -14,068 -3 470,669 -58,341 -12 1,019,015 NET OPERATING INCOME 216,231 240,612 -24,382 -10 179,199 37,032 21 216,231 -24,382 -10 179,199 37,032 21 505,516 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 70,634 70,602 -32 0 68,943 -1,691 -2 70,634 -32 0 68,943 -1,691 -2 141,204 Interest Expense - Hard Loans 106,353 104,815 -1,538 -1 109,674 3,321 3 106,353 -1,538 -1 109,674 3,321 3 208,792 Interest Expense - Other 5,431 5,431 0 0 5,446 15 0 5,431 0 0 5,446 15 0 10,863 Interest Expense - Loan Fees 5,838 5,838 0 0 5,838 0 0 5,838 0 0 5,838 0 0 11,676 188,256 186,686 -1,570 -1 189,901 1,645 1 188,256 -1,570 -1 189,901 1,645 1 372,534 Depreciation - Buildings 413,205 413,205 0 0 413,205 0 0 413,205 0 0 413,205 0 0 826,410 Depreciation - Furn,Fix,Equip - Units 2,690 1,650 -1,040 -63 0 -2,690 N/A 2,690 -1,040 -63 0 -2,690 N/A 3,300 Depreciation - Furn,Fix,Equip - Common 8,821 8,799 -23 0 7,477 -1,344 -18 8,821 -23 0 7,477 -1,344 -18 17,597 Depreciation - Improvements 40,317 40,850 533 1 40,110 -207 -1 40,317 533 1 40,110 -207 -1 81,700 Amortization - Tax Credit Fees 4,049 4,049 0 0 4,049 0 0 4,049 0 0 4,049 0 0 8,098 469,082 468,552 -529 0 464,841 -4,241 -1 469,082 -529 0 464,841 -4,241 -1 937,105 TOTAL NON OPERATING EXPENSES 657,338 655,238 -2,099 0 654,742 -2,596 0 657,338 -2,099 0 654,742 -2,596 0 1,309,639 NET NON-OPERATING INCOME(EXPENSE)-657,338 -655,238 -2,099 0 -654,742 -2,596 0 -657,338 -2,099 0 -654,742 -2,596 0 -1,309,639 NET INCOME (LOSS)-441,107 -414,626 -26,481 -6 -475,543 34,436 7 -441,107 -26,481 -6 -475,543 34,436 7 -804,123 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 98 of 194118 EXHIBIT: Horsetooth - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 136,224 136,224 136,224 136,224 136,224 136,224 140,495 142,711 142,711 142,711 142,711 1,671,394 1,685,058 -13,664 -1 (Loss) Gain to Lease -9,967 -7,759 -6,283 -6,500 -6,058 -5,768 -11,307 -11,472 -11,472 -11,472 -11,472 -111,002 -129,025 18,023 -14 Less: Vacancies -595 -5,240 -3,719 -4,527 -2,700 -4,707 -4,215 -4,281 -4,281 -4,281 -4,281 -47,108 -50,551 3,443 -7 Less: Prepaid Rents 0 -823 0 0 0 0 0 0 0 0 0 -823 0 -823 N/A NET POTENTIAL RENT 125,662 122,402 126,222 125,197 127,466 125,749 124,973 126,958 126,958 126,958 126,958 1,512,461 1,505,482 6,979 0 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -25 -75 0 0 0 0 0 0 0 0 0 -100 0 -100 N/A Less: Allowance for Doubtful Accounts -3,678 -3,678 -3,678 -3,678 -3,678 -3,678 -3,793 -3,853 -3,853 -3,853 -3,853 -45,128 -45,497 369 -1 Pet Rent 147 155 155 155 155 155 240 240 240 240 240 2,362 2,880 -518 -18 Repayment Agreement 1 0 0 0 0 0 763 0 0 0 0 0 763 0 763 N/A NET POTENTIAL RENT ADJUSTMENTS -3,556 -3,598 -3,523 -3,523 -3,523 -2,760 -3,553 -3,613 -3,613 -3,613 -3,613 -42,103 -42,617 514 -1 NET RENTAL INCOME 122,106 118,804 122,699 121,674 123,943 122,989 121,420 123,345 123,345 123,345 123,345 1,470,358 1,462,865 7,493 1 OTHER TENANT INCOME Ancillary Income 39 33 42 45 45 48 57 57 57 57 57 591 680 -88 -13 Late Charges 406 325 225 225 275 350 310 310 310 310 310 3,669 3,725 -57 -2 Legal Fees - Tenant 0 0 0 0 0 0 1,054 1,054 1,054 1,054 1,054 6,327 12,654 -6,327 -50 NSF Charges 0 25 25 0 25 0 4 4 4 4 4 100 50 50 100 Utility Reimb.-Tenant 122 36 25 229 146 541 268 268 268 268 268 2,704 3,211 -507 -16 Misc.Tenant Income -31 848 -475 75 75 50 29 29 29 29 29 717 350 367 105 Tenant Work Orders 1,173 0 154 1,461 1,453 1,583 2,628 2,628 2,628 2,628 2,628 21,589 31,530 -9,941 -32 TOTAL OTHER TENANT INCOME 1,708 1,267 -4 2,034 2,019 2,573 4,350 4,350 4,350 4,350 4,350 35,697 52,200 -16,502 -32 EFFECTIVE GROSS INCOME 123,814 120,071 122,695 123,708 125,961 125,562 125,770 127,695 127,695 127,695 127,695 1,506,055 1,515,065 -9,010 -1 OTHER INCOME Interest Income - Unrestricted 619 549 602 564 538 558 789 789 789 789 789 8,162 9,466 -1,304 -14 TOTAL OTHER INCOME 619 549 602 564 538 558 789 789 789 789 789 8,162 9,466 -1,304 -14 TOTAL OPERATING REVENUE 124,433 120,620 123,297 124,273 126,499 126,120 126,558 128,484 128,484 128,484 128,484 1,514,217 1,524,531 -10,313 -1 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 138,647 138,646 -1 0 Total Labor Expenses 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 138,647 138,646 -1 0 Legal Expense 12 Month Actual to Budget Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 99 of 194119 EXHIBIT: Horsetooth - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Horsetooth, LLLP (.vohttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Legal-Criminal Background Checks 0 88 138 37 18 0 0 0 0 0 0 280 0 -280 N/A Legal-Tenant Screening 0 0 0 0 0 0 205 180 130 255 185 1,070 2,335 1,265 54 Legal-General Expense 248 1,162 388 0 25 70 102 102 4,155 117 522 10,437 13,972 3,534 25 Total Legal Expense 248 1,249 526 37 42 70 307 282 4,285 372 707 11,787 16,307 4,519 28 Management Related Expense Property Management Expense 10,072 10,099 10,404 10,388 10,434 10,371 10,037 10,037 10,037 10,037 10,037 121,988 120,439 -1,549 -1 Accounting/Bookkeeping Expense 11,332 11,361 11,705 11,687 11,738 11,667 11,291 11,291 11,291 11,291 11,291 137,236 135,493 -1,743 -1 Total Management Related Expenses 21,404 21,460 22,109 22,075 22,172 22,038 21,328 21,328 21,328 21,328 21,328 259,224 255,932 -3,292 -1 Other Administrative Expenses Mileage 185 0 0 0 0 0 0 0 0 0 0 185 0 -185 N/A Auditing & Tax Services 88 1,225 992 1,538 877 877 858 858 858 858 858 10,744 10,296 -448 -4 Tax Credit Monitoring 0 0 0 0 0 0 0 0 0 0 5,621 5,621 5,621 0 0 Resident Relocation 0 2,955 0 0 0 0 0 1,360 0 0 0 4,788 1,876 -2,912 -155 Security Services 0 56 180 120 176 100 385 385 385 385 385 2,942 4,620 1,678 36 Miscellaneous Admin Expenses 9 104 73 0 0 60 0 0 0 0 0 246 0 -246 N/A Total Other Administrative Expenses 281 4,340 1,245 1,658 1,053 1,037 1,243 2,603 1,243 1,243 6,864 24,526 22,413 -2,113 -9 Technology Expenses Managed Services - Internal 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 14,458 14,456 -2 0 Telephone - Landline|Virtual 814 829 979 686 589 1,078 818 818 818 818 818 9,881 9,815 -66 -1 Internet Services 1,352 1,723 1,641 1,039 774 1,707 1,044 1,044 1,044 1,044 1,044 14,500 12,528 -1,972 -16 Cellular - Phones | Tablets 40 40 40 40 -36 0 0 0 0 0 0 124 0 -124 N/A Total Technology Expenses 3,410 3,797 3,864 2,970 2,532 3,990 3,067 3,067 3,067 3,067 3,067 38,964 36,799 -2,164 -6 Compliance Expenses Compliance Services - Internal 787 787 787 787 787 787 787 787 787 787 787 9,441 9,439 -3 0 Compliance Services - Consultants 0 85 240 0 285 30 405 1,170 270 495 405 3,700 5,625 1,925 34 Total Compliance Expenses 787 872 1,027 787 1,072 817 1,192 1,957 1,057 1,282 1,192 13,141 15,064 1,922 13 TOTAL ADMINISTRATIVE EXPENSES 37,684 43,272 40,325 39,082 38,425 39,505 38,690 40,790 42,533 38,844 44,710 486,290 485,161 -1,129 0 GENERAL EXPENSES Resident Services Resident Services - Internal 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 52,800 52,800 0 0 Resident Services - External 192 192 0 0 0 0 0 0 0 0 0 384 0 -384 N/A Total Resident Services 4,592 4,592 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 4,400 53,184 52,800 -384 -1 Utilities Expense Water 4,234 4,161 4,224 4,301 4,374 4,452 4,650 4,650 4,650 4,650 4,650 53,644 55,795 2,151 4 Electricity 3,029 2,474 1,529 1,595 1,186 1,126 2,012 2,012 2,012 2,012 2,012 23,012 24,146 1,134 5 Electricity-Vacant Units 0 36 0 49 0 369 106 106 106 106 106 1,087 1,267 180 14 Gas 163 179 286 146 0 290 123 123 123 123 123 1,800 1,474 -327 -22 Gas-Vacant Units 0 0 0 15 0 0 55 55 55 55 55 347 663 316 48 Trash Removal Services 1,664 1,813 3,612 43 1,947 1,954 1,822 1,822 1,822 1,822 1,822 21,965 21,863 -102 0 Total Utility Expenses 9,089 8,663 9,651 6,148 7,508 8,191 8,767 8,767 8,767 8,767 8,767 101,855 105,208 3,353 3 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 100 of 194120 EXHIBIT: Horsetooth - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Horsetooth, LLLP (.vohttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Maintenance Expenses Maintenance - On Call 0 0 0 40 0 40 0 0 0 0 0 80 0 -80 N/A Total General Maint Expense 0 0 0 40 0 40 0 0 0 0 0 80 0 -80 N/A Supplies-Grounds 109 424 132 283 74 1,011 217 217 217 217 217 3,334 2,600 -734 -28 Supplies-Appliances 10 510 224 217 151 146 117 117 117 117 117 1,960 1,403 -557 -40 Supplies-Electrical 345 227 54 280 293 257 385 385 385 385 385 3,767 4,622 855 18 Supplies-Pest Control 0 0 20 0 26 0 6 6 6 6 6 80 69 -11 -16 Supplies-Janitorial 59 74 193 94 126 121 155 155 155 155 155 1,597 1,863 266 14 Supplies-General 0 99 48 63 129 60 137 137 137 137 137 1,221 1,642 421 26 Supplies-Plumbing 195 336 1,003 406 683 177 410 410 410 410 410 5,259 4,916 -343 -7 Supplies-Paint 0 0 24 0 0 46 0 0 0 0 0 70 0 -70 N/A Supplies-HVAC 248 0 0 0 0 0 305 305 305 305 305 2,075 3,655 1,580 43 Supplies-Doors 38 245 236 129 118 80 283 283 283 283 283 2,543 3,396 853 25 Supplies-Windows 27 0 50 98 267 1,251 296 296 296 296 296 3,468 3,548 81 2 Total Supplies | Materials 1,030 1,914 1,985 1,570 1,867 3,151 2,309 2,309 2,309 2,309 2,309 25,374 27,714 2,340 8 Contract-Work Orders - Internal 5,310 5,458 7,268 3,761 5,929 2,338 4,100 4,100 4,100 4,100 4,100 54,660 49,194 -5,465 -11 Contract-Preventative - Internal 4,033 4,033 -150 4,033 4,033 -4,332 1,942 1,942 1,942 1,942 1,942 23,300 23,300 0 0 Contract-System Services 490 3,010 0 1,910 1,205 10,559 1,078 0 0 179 0 20,359 7,388 -12,971 -176 Contract-Appliance 656 0 342 128 949 226 304 304 304 304 0 3,821 3,343 -478 -14 Contract-Carpet Cleaning 0 0 0 0 0 0 421 0 0 0 0 421 421 0 0 Contract-Electrical 772 0 977 0 608 728 278 278 278 278 278 4,756 3,342 -1,414 -42 Contract-Pest Control 450 330 0 110 788 200 570 220 570 220 220 3,898 4,040 142 4 Contract-Grounds 17,338 6,954 761 1,948 1,669 1,773 4,072 4,072 4,072 4,072 4,072 54,877 52,870 -2,008 -4 Contract-Janitorial 803 803 1,606 0 803 803 823 823 823 823 823 9,756 9,877 120 1 Contract-Plumbing 612 2,972 0 1,470 1,084 1,349 0 298 0 0 1,643 9,849 5,914 -3,934 -67 Contract-HVAC 775 0 400 0 0 376 0 358 789 0 0 2,697 2,293 -404 -18 Contract-Windows 0 0 0 0 0 0 0 0 0 0 0 0 650 650 100 Contract-General 2,128 410 2,966 677 922 6,490 69 69 69 69 555 15,129 16,974 1,846 11 Total Contract Costs 33,367 23,968 14,169 14,037 17,990 20,509 13,658 12,464 12,948 11,987 13,633 203,523 179,606 -23,916 -13 Total Maintenance Expenses - Core 34,397 25,883 16,154 15,648 19,857 23,700 15,967 14,774 15,257 14,297 15,942 228,977 207,320 -21,657 -10 Unit Turn-Work Order 0 1,998 1,381 1,211 2,125 510 1,530 1,530 1,530 1,530 1,530 16,405 18,360 1,955 11 Unit Turn-External 185 355 3,067 1,680 3,172 3,178 2,550 2,550 2,550 2,550 2,550 26,937 30,600 3,663 12 Unit Turn Materials 0 806 387 843 170 1,182 720 720 720 720 720 7,708 8,640 932 11 Total Unit Turn Costs 185 3,158 4,835 3,734 5,468 4,870 4,800 4,800 4,800 4,800 4,800 51,050 57,600 6,550 11 Total Maintenance Expenses 34,582 29,041 20,989 19,382 25,325 28,570 20,767 19,574 20,057 19,097 20,742 280,027 264,920 -15,107 -6 Vehicle-Fixed Fee Maintenance 0 0 0 0 0 0 0 66 0 0 0 0 0 0 N/A Total Vehicle Expenses 0 0 0 0 0 0 0 66 0 0 0 0 0 0 N/A HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 101 of 194121 EXHIBIT: Horsetooth - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Horsetooth, LLLP (.vohttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Insurance & Taxes Expenses Insurance - Property 7,187 7,187 7,187 7,187 6,439 361 5,382 5,382 5,382 5,382 5,382 67,842 64,587 -3,255 -5 Insurance - Liability 352 352 352 352 352 352 462 462 462 462 462 4,883 5,538 655 12 Insurance - Umbrella 466 466 466 466 466 466 473 473 473 473 473 5,638 5,679 41 1 Total Tax & Insurance Expenses 8,006 8,006 8,006 8,006 7,258 1,180 6,317 6,317 6,317 6,317 6,317 78,363 75,804 -2,559 -3 Other General Expenses Filing Fees 0 0 0 0 0 0 0 0 0 10 0 10 10 0 0 Office Supplies 0 0 0 104 102 0 100 100 100 100 100 806 1,200 394 33 Copier and Printer Usage | Supplies 47 47 47 47 49 49 158 85 85 85 85 867 1,080 212 20 Miscellaneous General Expense 0 0 0 0 0 0 0 0 0 0 0 0 1,152 1,152 100 Total Other General Expenses 47 47 47 151 151 49 258 185 185 195 185 1,684 3,442 1,758 51 Reserve Allowances Reserve Account Funding Allowance 2,640 2,640 2,640 2,640 2,640 2,640 2,640 2,640 2,640 2,640 2,640 31,680 31,680 0 0 Total Reserve Allowances 2,640 2,640 2,640 2,640 2,640 2,640 2,640 2,640 2,640 2,640 2,640 31,680 31,680 0 0 TOTAL GENERAL EXPENSES 58,956 52,989 45,733 40,727 47,281 45,031 43,149 41,950 42,366 41,416 43,052 546,793 533,854 -12,939 -2 TOTAL DIRECT OPERATING EXPENSES 96,640 96,261 86,058 79,809 85,707 84,536 81,839 82,740 84,899 80,261 87,762 1,033,083 1,019,015 -14,068 -1 TOTAL OPERATING EXPENSES 96,640 96,261 86,058 79,809 85,707 84,536 81,839 82,740 84,899 80,261 87,762 1,033,083 1,019,015 -14,068 -1 NET OPERATING INCOME 27,793 24,358 37,239 44,464 40,792 41,584 44,719 45,744 43,584 48,223 40,722 481,134 505,516 -24,382 -5 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 11,772 11,772 11,772 11,772 11,772 11,772 11,767 11,767 11,767 11,767 11,767 141,236 141,204 -32 0 Interest Expense - Hard Loans 18,213 18,174 16,384 18,096 17,470 18,016 17,142 17,673 17,027 17,553 16,949 210,330 208,792 -1,538 -1 Interest Expense - Other 905 905 905 905 905 905 905 905 905 905 905 10,863 10,863 0 0 Interest Expense - Loan Fees 973 973 973 973 973 973 973 973 973 973 973 11,676 11,676 0 0 31,863 31,825 30,034 31,746 31,121 31,667 30,787 31,318 30,672 31,198 30,594 374,104 372,534 -1,570 0 Depreciation - Buildings 68,868 68,868 68,868 68,868 68,868 68,868 68,868 68,868 68,868 68,868 68,868 826,410 826,410 0 0 Depreciation - Furn,Fix,Equip - Units 448 448 448 448 448 448 275 275 275 275 275 4,340 3,300 -1,040 -32 Depreciation - Furn,Fix,Equip - Common 1,470 1,470 1,470 1,470 1,470 1,470 1,466 1,466 1,466 1,466 1,466 17,620 17,597 -23 0 Depreciation - Improvements 6,719 6,719 6,719 6,719 6,719 6,719 6,808 6,808 6,808 6,808 6,808 81,167 81,700 533 1 Amortization - Tax Credit Fees 675 675 675 675 675 675 675 675 675 675 675 8,098 8,098 0 0 78,180 78,180 78,180 78,180 78,180 78,180 78,092 78,092 78,092 78,092 78,092 937,634 937,105 -529 0 TOTAL NON OPERATING EXPENSES 110,043 110,005 108,214 109,926 109,301 109,847 108,879 109,410 108,764 109,290 108,686 1,311,738 1,309,639 -2,099 0 NET NON-OPERATING INCOME(EXPENSE)-110,043 -110,005 -108,214 -109,926 -109,301 -109,847 -108,879 -109,410 -108,764 -109,290 -108,686 -1,311,738 -1,309,639 -2,099 0 NET INCOME (LOSS)-82,250 -85,647 -70,976 -65,462 -68,509 -68,263 -64,160 -63,666 -65,180 -61,067 -67,964 -830,604 -804,123 -26,481 3 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 102 of 194122 EXHIBIT: Mason Place - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 561,240 585,428 -24,188 -4 491,844 69,396 14 561,240 -24,188 -4 491,844 69,396 14 1,174,730 (Loss) Gain to Lease -1,170 3,876 -5,046 -130 269 -1,439 -535 -1,170 -5,046 -130 269 -1,439 -535 3,876 Less: Vacancies -2,067 -5,854 3,787 65 -1,252 -815 -65 -2,067 3,787 65 -1,252 -815 -65 -11,746 Less: Concessions 0 0 0 N/A -4 4 100 0 0 N/A -4 4 100 0 NET POTENTIAL RENT 558,003 583,450 -25,447 -4 490,857 67,146 14 558,003 -25,447 -4 490,857 67,146 14 1,166,860 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -100 0 -100 N/A -15,695 15,595 99 -100 -100 N/A -15,695 15,595 99 0 Less: Allowance for Doubtful Accounts -13,470 -12,689 -781 -6 0 -13,470 N/A -13,470 -781 -6 0 -13,470 N/A -25,378 NET POTENTIAL RENT ADJUSTMENTS -13,570 -12,689 -881 -7 -15,695 2,125 14 -13,570 -881 -7 -15,695 2,125 14 -25,378 NET RENTAL INCOME 544,433 570,761 -26,328 -5 475,162 69,271 15 544,433 -26,328 -5 475,162 69,271 15 1,141,482 OTHER TENANT INCOME Ancillary Income 0 169 -169 -100 0 0 N/A 0 -169 -100 0 0 N/A 338 Damages 8,087 5,276 2,811 53 5,579 2,508 45 8,087 2,811 53 5,579 2,508 45 10,552 Late Charges 1,925 2,288 -362 -16 1,325 600 45 1,925 -362 -16 1,325 600 45 4,575 Legal Fees - Tenant 4,154 1,789 2,365 132 3,532 621 18 4,154 2,365 132 3,532 621 18 3,577 Tenant Work Orders 3,908 852 3,056 359 0 3,908 N/A 3,908 3,056 359 0 3,908 N/A 1,705 TOTAL OTHER TENANT INCOME 18,074 10,373 7,701 74 10,436 7,638 73 18,074 7,701 74 10,436 7,638 73 20,747 EFFECTIVE GROSS INCOME 562,508 581,134 -18,627 -3 485,598 76,909 16 562,508 -18,627 -3 485,598 76,909 16 1,162,229 GRANT REVENUE Grants - HUD CoC 100,596 51,222 49,374 96 0 100,596 N/A 100,596 49,374 96 0 100,596 N/A 103,685 TOTAL GRANT REVENUE 100,596 51,222 49,374 96 0 100,596 N/A 100,596 49,374 96 0 100,596 N/A 103,685 OTHER INCOME Miscellaneous Income 254 0 254 N/A 0 254 N/A 254 254 N/A 0 254 N/A 0 Interest Income - Unrestricted 6,740 8,710 -1,971 -23 8,517 -1,777 -21 6,740 -1,971 -23 8,517 -1,777 -21 17,421 TOTAL OTHER INCOME 6,994 8,710 -1,717 -20 8,517 -1,523 -18 6,994 -1,717 -20 8,517 -1,523 -18 17,421 TOTAL OPERATING REVENUE 670,097 641,067 29,031 5 494,116 175,982 36 670,097 29,031 5 494,116 175,982 36 1,283,335 Mason Place, LLLP (masonpl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 103 of 194123 EXHIBIT: Mason Place - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Mason Place, LLLP (masonpl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 62,391 69,323 6,932 10 56,052 -6,339 -11 62,391 6,932 10 56,052 -6,339 -11 138,646 Total Labor Expenses 62,391 69,323 6,932 10 56,052 -6,339 -11 62,391 6,932 10 56,052 -6,339 -11 138,646 Legal Expense Legal-Criminal Background Checks 150 0 -150 N/A 0 -150 N/A 150 -150 N/A 0 -150 N/A 0 Legal-Tenant Screening 0 765 765 100 0 0 N/A 0 765 100 0 0 N/A 1,530 Legal-General Expense 4,889 2,984 -1,905 -64 3,857 -1,032 -27 4,889 -1,905 -64 3,857 -1,032 -27 3,270 Total Legal Expense 5,038 3,749 -1,289 -34 3,857 -1,181 -31 5,038 -1,289 -34 3,857 -1,181 -31 4,800 Management Related Expense Property Management Expense 34,154 35,768 1,615 5 29,441 -4,713 -16 34,154 1,615 5 29,441 -4,713 -16 71,534 Accounting/Bookkeeping Expense 22,769 23,846 1,076 5 19,627 -3,142 -16 22,769 1,076 5 19,627 -3,142 -16 47,689 Total Management Related Expenses 56,923 59,614 2,691 5 49,068 -7,855 -16 56,923 2,691 5 49,068 -7,855 -16 119,224 Other Administrative Expenses Staff Training & Conferences 519 375 -144 -38 2,213 1,695 77 519 -144 -38 2,213 1,695 77 750 Travel, Lodging & Per Diems 297 0 -297 N/A 0 -297 N/A 297 -297 N/A 0 -297 N/A 0 Mileage 71 0 -71 N/A 0 -71 N/A 71 -71 N/A 0 -71 N/A 0 Meals - Business Partners 46 0 -46 N/A 0 -46 N/A 46 -46 N/A 0 -46 N/A 0 Auditing & Tax Services 4,823 5,148 325 6 4,905 82 2 4,823 325 6 4,905 82 2 10,296 Tax Credit Monitoring 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 5,421 Marketing 0 50 50 100 0 0 N/A 0 50 100 0 0 N/A 100 Resident Relocation 31 0 -31 N/A 0 -31 N/A 31 -31 N/A 0 -31 N/A 192 Security Services 64,165 75,000 10,835 14 65,566 1,401 2 64,165 10,835 14 65,566 1,401 2 150,000 Miscellaneous Admin Expenses 130 250 120 48 280 150 54 130 120 48 280 150 54 500 Total Other Administrative Expenses 70,082 80,823 10,741 13 72,964 2,882 4 70,082 10,741 13 72,964 2,882 4 167,259 Technology Expenses Managed Services - Internal 7,230 7,228 -2 0 5,910 -1,320 -22 7,230 -2 0 5,910 -1,320 -22 14,456 Cable Services 0 735 735 100 840 840 100 0 735 100 840 840 100 1,469 Telephone - Landline|Virtual 2,170 2,154 -16 -1 2,096 -74 -4 2,170 -16 -1 2,096 -74 -4 4,308 Internet Services 2,700 1,550 -1,150 -74 1,417 -1,283 -91 2,700 -1,150 -74 1,417 -1,283 -91 3,099 Cellular - Phones | Tablets 544 559 15 3 544 1 0 544 15 3 544 1 0 1,117 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 104 of 194124 EXHIBIT: Mason Place - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Mason Place, LLLP (masonpl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Technology Expenses 12,643 12,225 -418 -3 10,808 -1,836 -17 12,643 -418 -3 10,808 -1,836 -17 24,450 Compliance Expenses Compliance Services - Internal 2,952 2,950 -2 0 6,978 4,026 58 2,952 -2 0 6,978 4,026 58 5,899 Compliance Services - Consultants 0 1,360 1,360 100 0 0 N/A 0 1,360 100 0 0 N/A 2,720 Total Compliance Expenses 2,952 4,310 1,358 32 6,978 4,026 58 2,952 1,358 32 6,978 4,026 58 8,619 TOTAL ADMINISTRATIVE EXPENSES 210,030 230,044 20,014 9 199,727 -10,303 -5 210,030 20,014 9 199,727 -10,303 -5 462,998 GENERAL EXPENSES Resident Services Resident Services - Internal 194,790 195,588 798 0 40,778 -154,012 -378 194,790 798 0 40,778 -154,012 -378 391,176 RS - Discretionary Mission-Driven Support -39,000 -77,296 -38,296 -50 0 39,000 N/A -39,000 -38,296 -50 0 39,000 N/A -154,592 Resident Programming 29 0 -29 N/A 167 138 82 29 -29 N/A 167 138 82 0 RS Client Assistance 60 0 -60 N/A 495 435 88 60 -60 N/A 495 435 88 0 RS - Grant Expenses 100,596 51,222 -49,374 -96 0 -100,596 N/A 100,596 -49,374 -96 0 -100,596 N/A 103,685 Total Resident Services 256,475 169,514 -86,961 -51 41,440 -215,035 -519 256,475 -86,961 -51 41,440 -215,035 -519 340,269 Utilities Expense Water 7,533 7,851 318 4 8,926 1,393 16 7,533 318 4 8,926 1,393 16 15,703 Electricity 26,401 27,041 640 2 30,748 4,347 14 26,401 640 2 30,748 4,347 14 54,082 Gas 6,232 7,426 1,194 16 7,706 1,474 19 6,232 1,194 16 7,706 1,474 19 14,853 Trash Removal Services 3,168 2,903 -265 -9 2,903 -265 -9 3,168 -265 -9 2,903 -265 -9 5,806 Total Utility Expenses 43,334 45,222 1,887 4 50,283 6,949 14 43,334 1,887 4 50,283 6,949 14 90,443 Maintenance Expenses Maintenance - On Call 75 0 -75 N/A 0 -75 N/A 75 -75 N/A 0 -75 N/A 0 Tools and Equipment 0 327 327 100 320 320 100 0 327 100 320 320 100 327 Total General Maint Expense 75 327 252 77 320 245 77 75 252 77 320 245 77 327 Supplies-Grounds 572 1,413 841 59 827 255 31 572 841 59 827 255 31 2,827 Supplies-Appliances 72 43 -29 -67 360 288 80 72 -29 -67 360 288 80 86 Supplies-Electrical 440 944 504 53 4,942 4,503 91 440 504 53 4,942 4,503 91 1,887 Supplies-Pest Control 0 178 178 100 249 249 100 0 178 100 249 249 100 356 Supplies-Janitorial 1,125 2,209 1,084 49 1,154 29 3 1,125 1,084 49 1,154 29 3 4,418 Supplies-General 119 805 686 85 678 559 82 119 686 85 678 559 82 1,610 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 105 of 194125 EXHIBIT: Mason Place - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Mason Place, LLLP (masonpl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Supplies-Plumbing 183 713 530 74 646 463 72 183 530 74 646 463 72 1,426 Supplies-Paint 414 0 -414 N/A 548 133 24 414 -414 N/A 548 133 24 0 Supplies-HVAC 0 328 328 100 107 107 100 0 328 100 107 107 100 655 Supplies-Doors 1,080 2,514 1,433 57 1,304 223 17 1,080 1,433 57 1,304 223 17 5,027 Supplies-Windows 1,285 1,330 46 3 1,182 -103 -9 1,285 46 3 1,182 -103 -9 2,661 Total Supplies | Materials 5,291 10,476 5,186 49 11,996 6,706 56 5,291 5,186 49 11,996 6,706 56 20,953 Contract-Work Orders - Internal 16,109 12,573 -3,536 -28 16,304 195 1 16,109 -3,536 -28 16,304 195 1 25,146 Contract-Preventative - Internal 7,902 7,900 -2 0 14,250 6,348 45 7,902 -2 0 14,250 6,348 45 15,800 Contract-System Services 9,825 9,610 -215 -2 6,390 -3,435 -54 9,825 -215 -2 6,390 -3,435 -54 15,504 Contract-Appliance 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 591 Contract-Carpet Cleaning 290 400 110 28 0 -290 N/A 290 110 28 0 -290 N/A 400 Contract-Electrical 1,133 0 -1,133 N/A 1,007 -126 -13 1,133 -1,133 N/A 1,007 -126 -13 455 Contract-Pest Control 780 1,528 748 49 685 -95 -14 780 748 49 685 -95 -14 3,056 Contract-Grounds 6,743 11,485 4,742 41 5,786 -957 -17 6,743 4,742 41 5,786 -957 -17 22,969 Contract-Janitorial 8,990 10,627 1,637 15 10,805 1,815 17 8,990 1,637 15 10,805 1,815 17 21,254 Contract-Plumbing 295 0 -295 N/A 0 -295 N/A 295 -295 N/A 0 -295 N/A 399 Contract-HVAC 5,262 2,389 -2,873 -120 2,678 -2,584 -97 5,262 -2,873 -120 2,678 -2,584 -97 5,776 Contract-Elevators 5,272 3,397 -1,875 -55 3,282 -1,990 -61 5,272 -1,875 -55 3,282 -1,990 -61 6,224 Contract-General 4,054 1,803 -2,251 -125 2,482 -1,572 -63 4,054 -2,251 -125 2,482 -1,572 -63 4,553 Total Contract Costs 66,654 61,711 -4,943 -8 63,668 -2,986 -5 66,654 -4,943 -8 63,668 -2,986 -5 122,126 Total Maintenance Expenses - Core 72,020 72,515 494 1 75,984 3,964 5 72,020 494 1 75,984 3,964 5 143,406 Unit Turn-Work Order 2,678 3,060 382 12 4,425 1,748 39 2,678 382 12 4,425 1,748 39 6,120 Unit Turn-External 17,091 5,100 -11,991 -235 5,475 -11,616 -212 17,091 -11,991 -235 5,475 -11,616 -212 10,200 Unit Turn Materials 937 1,440 503 35 0 -937 N/A 937 503 35 0 -937 N/A 2,880 Total Unit Turn Costs 20,705 9,600 -11,105 -116 9,900 -10,806 -109 20,705 -11,105 -116 9,900 -10,806 -109 19,200 Total Maintenance Expenses 92,726 82,115 -10,611 -13 85,884 -6,841 -8 92,726 -10,611 -13 85,884 -6,841 -8 162,606 Insurance & Taxes Expenses Insurance - Property 22,877 20,190 -2,687 -13 19,565 -3,312 -17 22,877 -2,687 -13 19,565 -3,312 -17 40,380 Insurance - Liability 1,383 1,788 405 23 0 -1,383 N/A 1,383 405 23 0 -1,383 N/A 3,576 Insurance - Umbrella 2,799 2,840 41 1 0 -2,799 N/A 2,799 41 1 0 -2,799 N/A 5,679 Total Tax & Insurance Expenses 27,058 24,818 -2,241 -9 19,565 -7,493 -38 27,058 -2,241 -9 19,565 -7,493 -38 49,635 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 106 of 194126 EXHIBIT: Mason Place - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Mason Place, LLLP (masonpl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Other General Expenses Membership and Fees 296 258 -37 -15 153 -143 -94 296 -37 -15 153 -143 -94 287 Filing Fees 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 10 Office Supplies 524 764 241 31 915 392 43 524 241 31 915 392 43 1,109 Copier and Printer Usage | Supplies 919 1,217 298 24 1,208 290 24 919 298 24 1,208 290 24 2,533 Small Office Equipment 70 0 -70 N/A 0 -70 N/A 70 -70 N/A 0 -70 N/A 56 Meetings Expenses 115 379 264 70 515 400 78 115 264 70 515 400 78 535 Miscellaneous General Expense 0 180 180 100 0 0 N/A 0 180 100 0 0 N/A 450 Total Other General Expenses 1,922 2,798 875 31 2,791 869 31 1,922 875 31 2,791 869 31 4,980 Reserve Allowances Reserve Account Funding Allowance 9,834 9,834 0 0 9,546 -288 -3 9,834 0 0 9,546 -288 -3 19,669 Total Reserve Allowances 9,834 9,834 0 0 9,546 -288 -3 9,834 0 0 9,546 -288 -3 19,669 TOTAL GENERAL EXPENSES 431,349 334,300 -97,050 -29 209,509 -221,841 -106 431,349 -97,050 -29 209,509 -221,841 -106 667,602 TOTAL DIRECT OPERATING EXPENSES 641,379 564,343 -77,036 -14 409,236 -232,144 -57 641,379 -77,036 -14 409,236 -232,144 -57 1,130,600 TOTAL OPERATING EXPENSES 641,379 564,343 -77,036 -14 409,236 -232,144 -57 641,379 -77,036 -14 409,236 -232,144 -57 1,130,600 NET OPERATING INCOME 28,718 76,724 -48,005 -63 84,880 -56,162 -66 28,718 -48,005 -63 84,880 -56,162 -66 152,735 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 53,539 53,539 0 0 51,520 -2,019 -4 53,539 0 0 51,520 -2,019 -4 107,079 Interest Expense - Hard Loans 46,317 46,320 2 0 47,191 874 2 46,317 2 0 47,191 874 2 92,549 Interest Expense - Loan Fees 4,983 4,983 0 0 4,983 0 0 4,983 0 0 4,983 0 0 9,967 104,840 104,842 2 0 103,694 -1,146 -1 104,840 2 0 103,694 -1,146 -1 209,595 Depreciation - Buildings 217,285 217,204 -80 0 217,204 -80 0 217,285 -80 0 217,204 -80 0 434,409 Depreciation - Furn,Fix,Equip - Units 74,174 75,025 852 1 74,695 522 1 74,174 852 1 74,695 522 1 150,051 Depreciation - Furn,Fix,Equip - Common 1,283 1,477 193 13 741 -543 -73 1,283 193 13 741 -543 -73 2,953 Depreciation - Improvements 22,240 22,240 0 0 22,240 0 0 22,240 0 0 22,240 0 0 44,480 Amortization - Tax Credit Fees 5,474 5,474 0 0 5,474 0 0 5,474 0 0 5,474 0 0 10,948 320,456 321,420 964 0 320,354 -102 0 320,456 964 0 320,354 -102 0 642,840 Resident Services - Pd from Reserves 50,000 50,000 0 0 49,999 -1 0 50,000 0 0 49,999 -1 0 100,000 TOTAL NON OPERATING EXPENSES 475,296 476,263 967 0 474,048 -1,248 0 475,296 967 0 474,048 -1,248 0 952,435 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 107 of 194127 EXHIBIT: Mason Place - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Mason Place, LLLP (masonpl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is PARTNERSHIP INCOME(EXPENSES) Partnership Expenses 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A -16,391 TOTAL PARTNERSHIP INCOME(EXPENSES)0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A -16,391 NET NON-OPERATING INCOME(EXPENSE)-475,296 -476,263 967 0 -474,048 -1,248 0 -475,296 967 0 -474,048 -1,248 0 -968,826 NET INCOME (LOSS)-446,578 -399,539 -47,039 -12 -389,168 -57,410 -15 -446,578 -47,039 -12 -389,168 -57,410 -15 -816,091 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 108 of 194128 EXHIBIT: Mason Place - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 93,540 93,540 93,540 93,540 93,540 93,540 98,217 98,217 98,217 98,217 98,217 1,150,542 1,174,730 -24,188 -2 (Loss) Gain to Lease -195 -195 -195 -195 -195 -195 0 0 0 0 0 -1,170 3,876 -5,046 -130 Less: Vacancies -1,851 3,172 0 -1,033 745 -3,100 -982 -982 -982 -982 -982 -7,959 -11,746 3,787 -32 NET POTENTIAL RENT 91,494 96,517 93,345 92,312 94,090 90,245 97,235 97,235 97,235 97,235 97,235 1,141,413 1,166,860 -25,447 -2 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs 0 0 0 -100 0 0 0 0 0 0 0 -100 0 -100 N/A Less: Allowance for Doubtful Accounts -2,245 -2,245 -2,245 -2,245 -2,245 -2,245 -2,115 -2,115 -2,115 -2,115 -2,115 -26,159 -25,378 -781 3 NET POTENTIAL RENT ADJUSTMENTS -2,245 -2,245 -2,245 -2,345 -2,245 -2,245 -2,115 -2,115 -2,115 -2,115 -2,115 -26,259 -25,378 -881 3 NET RENTAL INCOME 89,249 94,272 91,100 89,967 91,845 88,000 95,120 95,120 95,120 95,120 95,120 1,115,154 1,141,482 -26,328 -2 OTHER TENANT INCOME Ancillary Income 0 0 0 0 0 0 28 28 28 28 28 169 338 -169 -50 Damages 5,064 3,023 0 0 0 0 879 879 879 879 879 13,363 10,552 2,811 27 Late Charges 300 150 275 325 250 625 381 381 381 381 381 4,212 4,575 -362 -8 Legal Fees - Tenant 550 1,750 198 0 1,656 0 298 298 298 298 298 5,943 3,577 2,365 66 Tenant Work Orders 130 175 0 42 3,560 0 142 142 142 142 142 4,761 1,705 3,056 179 TOTAL OTHER TENANT INCOME 6,044 5,098 473 368 5,467 625 1,729 1,729 1,729 1,729 1,729 28,448 20,747 7,701 37 EFFECTIVE GROSS INCOME 95,293 99,370 91,573 90,335 97,312 88,625 96,849 96,849 96,849 96,849 96,849 1,143,602 1,162,229 -18,627 -2 GRANT REVENUE Grants - HUD CoC 14,420 23,308 20,762 17,552 24,554 0 8,537 8,537 8,537 9,158 9,158 153,059 103,685 49,374 48 TOTAL GRANT REVENUE 14,420 23,308 20,762 17,552 24,554 0 8,537 8,537 8,537 9,158 9,158 153,059 103,685 49,374 48 OTHER INCOME Miscellaneous Income 0 0 0 0 254 0 0 0 0 0 0 254 0 254 N/A Interest Income - Unrestricted 1,209 1,071 1,166 1,091 1,093 1,110 1,452 1,452 1,452 1,452 1,452 15,450 17,421 -1,971 -11 TOTAL OTHER INCOME 1,209 1,071 1,166 1,091 1,347 1,110 1,452 1,452 1,452 1,452 1,452 15,704 17,421 -1,717 -10 TOTAL OPERATING REVENUE 110,922 123,749 113,502 108,977 123,212 89,735 106,838 106,838 106,838 107,459 107,459 1,312,366 1,283,335 29,031 2 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 11,554 11,554 9,821 9,821 9,821 9,821 11,554 11,554 11,554 11,554 11,554 131,714 138,646 6,932 5 Total Labor Expenses 11,554 11,554 9,821 9,821 9,821 9,821 11,554 11,554 11,554 11,554 11,554 131,714 138,646 6,932 5 Legal Expense 12 Month Actual to Budget Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 109 of 194129 EXHIBIT: Mason Place - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Mason Place, LLLP (masonpl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Legal-Criminal Background Checks 0 54 34 1 62 0 0 0 0 0 0 150 0 -150 N/A Legal-Tenant Screening 0 0 0 0 0 0 128 128 128 128 128 765 1,530 765 50 Legal-General Expense 1,957 754 394 300 914 570 0 0 0 0 286 5,175 3,270 -1,905 -58 Total Legal Expense 1,957 808 427 301 975 570 128 128 128 128 414 6,090 4,800 -1,289 -27 Management Related Expense Property Management Expense 5,481 5,844 5,826 5,673 5,780 5,549 5,961 5,961 5,961 5,961 5,961 69,920 71,534 1,615 2 Accounting/Bookkeeping Expense 3,654 3,896 3,884 3,782 3,853 3,700 3,974 3,974 3,974 3,974 3,974 46,613 47,689 1,076 2 Total Management Related Expenses 9,134 9,740 9,710 9,456 9,634 9,249 9,935 9,935 9,935 9,935 9,935 116,533 119,224 2,691 2 Other Administrative Expenses Staff Training & Conferences 0 0 19 0 0 500 62 62 62 62 62 894 750 -144 -19 Travel, Lodging & Per Diems 0 0 0 0 0 297 0 0 0 0 0 297 0 -297 N/A Mileage 0 0 0 66 5 0 0 0 0 0 0 71 0 -71 N/A Meals - Business Partners 0 46 0 0 0 0 0 0 0 0 0 46 0 -46 N/A Auditing & Tax Services 88 1,138 569 1,451 789 789 858 858 858 858 858 9,971 10,296 325 3 Tax Credit Monitoring 0 0 0 0 0 0 0 0 0 0 5,421 5,421 5,421 0 0 Marketing 0 0 0 0 0 0 8 8 8 8 8 50 100 50 50 Resident Relocation 42 -11 0 0 0 0 192 0 0 0 0 223 192 -31 -16 Security Services 7,182 0 20,678 14,915 10,690 10,700 12,500 12,500 12,500 12,500 12,500 139,165 150,000 10,835 7 Miscellaneous Admin Expenses 0 65 25 0 10 30 42 42 42 42 42 380 500 120 24 Total Other Administrative Expenses 7,312 1,238 21,290 16,432 11,495 12,316 13,663 13,470 13,470 13,470 18,891 156,518 167,259 10,741 6 Technology Expenses Managed Services - Internal 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 14,458 14,456 -2 0 Cable Services 0 0 0 0 0 0 122 122 122 122 122 735 1,469 735 50 Telephone - Landline|Virtual 351 347 430 347 347 347 359 359 359 359 359 4,324 4,308 -16 0 Internet Services 524 524 524 524 229 374 258 258 258 258 258 4,249 3,099 -1,150 -37 Cellular - Phones | Tablets 91 91 91 91 91 90 93 93 93 93 93 1,102 1,117 15 1 Total Technology Expenses 2,171 2,167 2,250 2,167 1,872 2,017 2,038 2,038 2,038 2,038 2,038 24,868 24,450 -418 -2 Compliance Expenses Compliance Services - Internal 492 492 492 492 492 492 492 492 492 492 492 5,902 5,899 -2 0 Compliance Services - Consultants 0 0 0 0 0 0 227 227 227 227 227 1,360 2,720 1,360 50 Total Compliance Expenses 492 492 492 492 492 492 718 718 718 718 718 7,262 8,619 1,358 16 TOTAL ADMINISTRATIVE EXPENSES 32,620 25,999 43,990 38,668 34,288 34,465 38,035 37,843 37,843 37,843 43,549 442,985 462,998 20,014 4 GENERAL EXPENSES Resident Services Resident Services - Internal 44,965 44,965 7,465 32,465 32,465 32,465 32,598 32,598 32,598 32,598 32,598 390,378 391,176 798 0 RS - Discretionary Mission-Driven Support -6,500 -6,500 -6,500 -6,500 -6,500 -6,500 -12,883 -12,883 -12,883 -12,883 -12,883 -116,296 -154,592 -38,296 25 Resident Programming 0 33 17 -21 0 0 0 0 0 0 0 29 0 -29 N/A RS Client Assistance 42 34 213 -230 0 0 0 0 0 0 0 60 0 -60 N/A Resident Services - External 120 120 0 -240 0 0 0 0 0 0 0 0 0 0 N/A RS - Grant Expenses 14,420 23,308 20,762 17,552 24,554 0 8,537 8,537 8,537 9,158 9,158 153,059 103,685 -49,374 -48 Total Resident Services 53,047 61,960 21,958 43,026 50,519 25,965 28,252 28,252 28,252 28,873 28,873 427,230 340,269 -86,961 -26 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 110 of 194130 EXHIBIT: Mason Place - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Mason Place, LLLP (masonpl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Utilities Expense Water 1,338 1,286 1,280 1,368 1,475 786 1,309 1,309 1,309 1,309 1,309 15,385 15,703 318 2 Electricity 6,315 5,998 3,897 4,063 3,343 2,786 4,507 4,507 4,507 4,507 4,507 53,442 54,082 640 1 Gas 2,002 1,692 911 671 538 418 1,238 1,238 1,238 1,238 1,238 13,658 14,853 1,194 8 Trash Removal Services 478 520 1,019 27 523 602 484 484 484 484 484 6,071 5,806 -265 -5 Total Utility Expenses 10,132 9,497 7,107 6,128 5,879 4,591 7,537 7,537 7,537 7,537 7,537 88,556 90,443 1,887 2 Maintenance Expenses Maintenance - On Call 0 0 0 50 0 25 0 0 0 0 0 75 0 -75 N/A Tools and Equipment 0 0 0 0 0 0 0 0 0 0 0 0 327 327 100 Total General Maint Expense 0 0 0 50 0 25 0 0 0 0 0 75 327 252 77 Supplies-Grounds 18 136 40 230 72 77 236 236 236 236 236 1,986 2,827 841 30 Supplies-Appliances 0 0 70 2 0 0 7 7 7 7 7 114 86 -29 -34 Supplies-Electrical 0 124 137 179 0 0 157 157 157 157 157 1,383 1,887 504 27 Supplies-Pest Control 0 0 0 0 0 0 30 30 30 30 30 178 356 178 50 Supplies-Janitorial 101 129 93 50 728 23 368 368 368 368 368 3,334 4,418 1,084 25 Supplies-General 0 72 10 37 0 0 134 134 134 134 134 924 1,610 686 43 Supplies-Plumbing 0 80 0 65 38 0 119 119 119 119 119 896 1,426 530 37 Supplies-Paint 0 354 0 9 52 0 0 0 0 0 0 414 0 -414 N/A Supplies-HVAC 0 0 0 0 0 0 55 55 55 55 55 328 655 328 50 Supplies-Doors 760 81 0 135 104 0 419 419 419 419 419 3,594 5,027 1,433 29 Supplies-Windows 0 962 0 0 322 0 222 222 222 222 222 2,615 2,661 46 2 Total Supplies | Materials 879 1,938 350 706 1,317 100 1,746 1,746 1,746 1,746 1,746 15,767 20,953 5,186 25 Contract-Work Orders - Internal 2,045 6,286 2,656 2,656 1,764 701 2,096 2,096 2,096 2,096 2,096 28,682 25,146 -3,536 -14 Contract-Preventative - Internal 1,317 1,317 1,317 1,317 1,317 1,317 1,317 1,317 1,317 1,317 1,317 15,802 15,800 -2 0 Contract-System Services 1,440 1,363 3,741 0 2,176 1,105 2,372 1,235 662 557 123 15,719 15,504 -215 -1 Contract-Appliance 0 0 0 0 0 0 0 0 215 90 0 591 591 0 0 Contract-Carpet Cleaning 0 0 0 0 290 0 0 0 0 0 0 290 400 110 28 Contract-Electrical 175 0 0 249 344 365 0 0 276 0 0 1,588 455 -1,133 -249 Contract-Pest Control 84 153 153 153 153 84 488 138 488 138 138 2,308 3,056 748 24 Contract-Grounds 2,243 1,880 1,011 790 337 483 1,914 1,914 1,914 1,914 1,914 18,227 22,969 4,742 21 Contract-Janitorial 0 1,878 3,656 0 1,728 1,728 1,771 1,771 1,771 1,771 1,771 19,617 21,254 1,637 8 Contract-Plumbing 0 175 0 120 0 0 0 0 399 0 0 694 399 -295 -74 Contract-HVAC 0 0 4,800 0 0 462 2,389 0 0 998 0 8,649 5,776 -2,873 -50 Contract-Elevators 438 438 960 1,530 1,467 438 471 471 471 471 471 8,099 6,224 -1,875 -30 Contract-General 235 390 2,086 431 691 221 639 388 399 388 0 6,804 4,553 -2,251 -49 Total Contract Costs 7,977 13,880 20,380 7,246 10,267 6,905 13,457 9,330 10,007 9,739 7,829 127,069 122,126 -4,943 -4 Total Maintenance Expenses - Core 8,856 15,818 20,729 8,002 11,584 7,030 15,203 11,076 11,753 11,486 9,575 142,911 143,406 494 0 Unit Turn-Work Order 574 0 0 510 0 1,594 510 510 510 510 510 5,738 6,120 382 6 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 111 of 194131 EXHIBIT: Mason Place - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Mason Place, LLLP (masonpl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Unit Turn-External 1,500 1,138 0 3,055 2,100 9,298 850 850 850 850 850 22,191 10,200 -11,991 -118 Unit Turn Materials 100 0 0 339 0 498 240 240 240 240 240 2,377 2,880 503 17 Total Unit Turn Costs 2,173 1,138 0 3,904 2,100 11,390 1,600 1,600 1,600 1,600 1,600 30,305 19,200 -11,105 -58 Total Maintenance Expenses 11,030 16,956 20,729 11,907 13,684 18,420 16,803 12,676 13,353 13,086 11,175 173,217 162,606 -10,611 -7 Insurance & Taxes Expenses Insurance - Property 3,882 3,882 3,882 3,882 3,534 3,813 3,365 3,365 3,365 3,365 3,365 43,067 40,380 -2,687 -7 Insurance - Liability 230 230 230 230 230 230 298 298 298 298 298 3,171 3,576 405 11 Insurance - Umbrella 466 466 466 466 466 466 473 473 473 473 473 5,638 5,679 41 1 Total Tax & Insurance Expenses 4,579 4,579 4,579 4,579 4,231 4,510 4,136 4,136 4,136 4,136 4,136 51,876 49,635 -2,241 -5 Other General Expenses Membership and Fees 0 0 0 69 127 100 0 0 0 0 29 324 287 -37 -13 Filing Fees 0 0 0 0 0 0 10 0 0 0 0 10 10 0 0 Office Supplies 50 47 334 24 68 0 50 50 50 50 95 868 1,109 241 22 Copier and Printer Usage | Supplies 168 168 243 75 172 93 145 34 206 234 301 2,235 2,533 298 12 Small Office Equipment 0 0 0 0 70 0 0 0 0 0 56 126 56 -70 -124 Meetings Expenses 0 0 0 0 0 115 0 129 0 0 27 271 535 264 49 Miscellaneous General Expense 0 0 0 0 0 0 0 90 0 90 90 270 450 180 40 Total Other General Expenses 218 215 577 168 436 308 205 303 256 374 598 4,104 4,980 875 18 Reserve Allowances Reserve Account Funding Allowance 1,639 1,639 1,639 1,639 1,639 1,639 1,639 1,639 1,639 1,639 1,639 19,669 19,669 0 0 Total Reserve Allowances 1,639 1,639 1,639 1,639 1,639 1,639 1,639 1,639 1,639 1,639 1,639 19,669 19,669 0 0 TOTAL GENERAL EXPENSES 80,645 94,846 56,590 67,448 76,388 55,433 58,573 54,543 55,173 55,645 53,958 764,652 667,602 -97,050 -15 TOTAL DIRECT OPERATING EXPENSES 113,265 120,844 100,580 106,115 110,676 89,898 96,608 92,386 93,016 93,488 97,508 1,207,636 1,130,600 -77,036 -7 TOTAL OPERATING EXPENSES 113,265 120,844 100,580 106,115 110,676 89,898 96,608 92,386 93,016 93,488 97,508 1,207,636 1,130,600 -77,036 -7 NET OPERATING INCOME -2,343 2,904 12,921 2,862 12,536 -162 10,230 14,452 13,822 13,971 9,951 104,730 152,735 -48,005 -31 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 8,923 8,923 8,923 8,923 8,923 8,923 8,923 8,923 8,923 8,923 8,923 107,079 107,079 0 0 Interest Expense - Hard Loans 7,913 8,159 6,877 7,883 8,382 7,105 7,602 7,845 7,574 7,816 7,555 92,547 92,549 2 0 Interest Expense - Loan Fees 831 831 831 831 831 831 831 831 831 831 831 9,967 9,967 0 0 17,666 17,912 16,631 17,636 18,135 16,859 17,356 17,599 17,328 17,570 17,309 209,592 209,595 2 0 Depreciation - Buildings 36,214 36,214 36,214 36,214 36,214 36,214 36,201 36,201 36,201 36,201 36,201 434,489 434,409 -80 0 Depreciation - Furn,Fix,Equip - Units 12,362 12,362 12,362 12,362 12,362 12,362 12,504 12,504 12,504 12,504 12,504 149,199 150,051 852 1 Depreciation - Furn,Fix,Equip - Common 214 214 214 214 214 214 246 246 246 246 246 2,760 2,953 193 7 Depreciation - Improvements 3,707 3,707 3,707 3,707 3,707 3,707 3,707 3,707 3,707 3,707 3,707 44,480 44,480 0 0 Amortization - Tax Credit Fees 912 912 912 912 912 912 912 912 912 912 912 10,948 10,948 0 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 112 of 194132 EXHIBIT: Mason Place - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Mason Place, LLLP (masonpl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is 53,409 53,409 53,409 53,409 53,409 53,409 53,570 53,570 53,570 53,570 53,570 641,876 642,840 964 0 Resident Services - Pd from Reserves 8,333 8,333 8,333 8,333 8,333 8,335 8,333 8,333 8,333 8,333 8,333 100,000 100,000 0 0 TOTAL NON OPERATING EXPENSES 79,409 79,655 78,373 79,379 79,878 78,603 79,259 79,502 79,231 79,474 79,212 951,468 952,435 967 0 PARTNERSHIP INCOME(EXPENSES) Partnership Expenses 0 0 0 0 0 0 0 0 0 0 -16,391 -16,391 -16,391 0 0 TOTAL PARTNERSHIP INCOME(EXPENSES)0 0 0 0 0 0 0 0 0 0 -16,391 -16,391 -16,391 0 0 NET NON-OPERATING INCOME(EXPENSE)-79,409 -79,655 -78,373 -79,379 -79,878 -78,603 -79,259 -79,502 -79,231 -79,474 -95,604 -967,860 -968,826 967 0 NET INCOME (LOSS)-81,752 -76,750 -65,452 -76,517 -67,341 -78,765 -69,029 -65,051 -65,409 -65,503 -85,653 -863,130 -816,091 -47,039 6 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 113 of 194133 EXHIBIT: Impala - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 808,008 564,293 243,715 43 295,427 512,581 174 808,008 243,715 43 295,427 512,581 174 1,338,641 (Loss) Gain to Lease -13,957 0 -13,957 N/A -13,035 -922 -7 -13,957 -13,957 N/A -13,035 -922 -7 0 Less: Vacancies -283,472 -210,055 -73,417 -35 -156,278 -127,194 -81 -283,472 -73,417 -35 -156,278 -127,194 -81 -210,055 Less: Concessions -24,492 0 -24,492 N/A 0 -24,492 N/A -24,492 -24,492 N/A 0 -24,492 N/A 0 NET POTENTIAL RENT 486,087 354,238 131,849 37 126,114 359,973 285 486,087 131,849 37 126,114 359,973 285 1,128,586 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -125 0 -125 N/A 0 -125 N/A -125 -125 N/A 0 -125 N/A 0 Less: Allowance for Doubtful Accounts -8,080 -5,643 -2,437 -43 0 -8,080 N/A -8,080 -2,437 -43 0 -8,080 N/A -13,386 Pet Rent 1,376 0 1,376 N/A 360 1,016 282 1,376 1,376 N/A 360 1,016 282 0 NET POTENTIAL RENT ADJUSTMENTS -6,829 -5,643 -1,186 -21 360 -7,189 -1,997 -6,829 -1,186 -21 360 -7,189 -1,997 -13,386 NET RENTAL INCOME 479,258 348,595 130,663 37 126,474 352,784 279 479,258 130,663 37 126,474 352,784 279 1,115,200 OTHER TENANT INCOME Late Charges 1,225 300 925 308 225 1,000 444 1,225 925 308 225 1,000 444 600 Legal Fees - Tenant 0 0 0 N/A 68 -68 -100 0 0 N/A 68 -68 -100 0 NSF Charges 0 50 -50 -100 50 -50 -100 0 -50 -100 50 -50 -100 100 Utility Reimb.-Tenant 718 545 173 32 521 196 38 718 173 32 521 196 38 1,089 Misc.Tenant Income 1,275 0 1,275 N/A 0 1,275 N/A 1,275 1,275 N/A 0 1,275 N/A 0 Tenant Work Orders 1,180 90 1,090 1,216 0 1,180 N/A 1,180 1,090 1,216 0 1,180 N/A 179 TOTAL OTHER TENANT INCOME 4,398 984 3,413 347 864 3,534 409 4,398 3,413 347 864 3,534 409 1,969 EFFECTIVE GROSS INCOME 483,656 349,579 134,076 38 127,338 356,318 280 483,656 134,076 38 127,338 356,318 280 1,117,168 OTHER INCOME Interest Income - Unrestricted 95 130 -35 -27 135 -40 -30 95 -35 -27 135 -40 -30 260 TOTAL OTHER INCOME 95 130 -35 -27 135 -40 -30 95 -35 -27 135 -40 -30 260 TOTAL OPERATING REVENUE 483,751 349,709 134,041 38 127,473 356,278 279 483,751 134,041 38 127,473 356,278 279 1,117,428 OPERATING EXPENSES DIRECT OPERATING EXPENSES Village on Impala, LLLP (voilllp) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 114 of 194134 EXHIBIT: Impala - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Impala, LLLP (voilllp) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is ADMINISTRATIVE Labor Expenses Management Labor 51,990 51,992 2 0 18,135 -33,855 -187 51,990 2 0 18,135 -33,855 -187 103,985 Total Labor Expenses 51,990 51,992 2 0 18,135 -33,855 -187 51,990 2 0 18,135 -33,855 -187 103,985 Legal Expense Legal-Criminal Background Checks 4,344 0 -4,344 N/A 0 -4,344 N/A 4,344 -4,344 N/A 0 -4,344 N/A 0 Legal-Tenant Screening 0 190 190 100 0 0 N/A 0 190 100 0 0 N/A 465 Legal-General Expense 307 2,500 2,193 88 2,268 1,962 86 307 2,193 88 2,268 1,962 86 5,000 Total Legal Expense 4,651 2,690 -1,961 -73 2,268 -2,382 -105 4,651 -1,961 -73 2,268 -2,382 -105 5,465 Management Related Expense Property Management Expense 39,894 28,869 -11,024 -38 7,631 -32,262 -423 39,894 -11,024 -38 7,631 -32,262 -423 91,515 Accounting/Bookkeeping Expense 27,427 19,848 -7,579 -38 5,004 -22,423 -448 27,427 -7,579 -38 5,004 -22,423 -448 62,917 Total Management Related Expenses 67,320 48,717 -18,604 -38 12,635 -54,686 -433 67,320 -18,604 -38 12,635 -54,686 -433 154,432 Other Administrative Expenses Mileage 286 150 -136 -91 0 -286 N/A 286 -136 -91 0 -286 N/A 300 Auditing & Tax Services 7,360 5,148 -2,212 -43 5,105 -2,256 -44 7,360 -2,212 -43 5,105 -2,256 -44 10,296 Marketing -547 0 547 N/A 0 547 N/A -547 547 N/A 0 547 N/A 1,626 Resident Relocation 29 0 -29 N/A 0 -29 N/A 29 -29 N/A 0 -29 N/A 0 Consultants 10,276 0 -10,276 N/A 0 -10,276 N/A 10,276 -10,276 N/A 0 -10,276 N/A 0 Security Services 0 1,000 1,000 100 0 0 N/A 0 1,000 100 0 0 N/A 2,000 Miscellaneous Admin Expenses 100 0 -100 N/A 0 -100 N/A 100 -100 N/A 0 -100 N/A 0 Total Other Administrative Expenses 17,505 6,298 -11,207 -178 5,105 -12,400 -243 17,505 -11,207 -178 5,105 -12,400 -243 14,222 Technology Expenses Managed Services - Internal 5,424 5,421 -3 0 1,910 -3,514 -184 5,424 -3 0 1,910 -3,514 -184 10,842 Internet Services 1,071 0 -1,071 N/A 0 -1,071 N/A 1,071 -1,071 N/A 0 -1,071 N/A 0 Total Technology Expenses 6,495 5,421 -1,074 -20 1,910 -4,585 -240 6,495 -1,074 -20 1,910 -4,585 -240 10,842 Compliance Expenses Compliance Services - Internal 4,230 4,228 -2 0 2,325 -1,905 -82 4,230 -2 0 2,325 -1,905 -82 8,456 Compliance Services - Consultants 2,715 495 -2,220 -448 0 -2,715 N/A 2,715 -2,220 -448 0 -2,715 N/A 1,105 Total Compliance Expenses 6,945 4,723 -2,222 -47 2,325 -4,620 -199 6,945 -2,222 -47 2,325 -4,620 -199 9,561 TOTAL ADMINISTRATIVE EXPENSES 154,906 119,841 -35,065 -29 42,378 -112,528 -266 154,906 -35,065 -29 42,378 -112,528 -266 298,507 GENERAL EXPENSES Resident Services HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 115 of 194135 EXHIBIT: Impala - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Impala, LLLP (voilllp) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Resident Services - Internal 8,598 8,600 2 0 11,000 2,402 22 8,598 2 0 11,000 2,402 22 17,200 Resident Services - External 344 0 -344 N/A 0 -344 N/A 344 -344 N/A 0 -344 N/A 0 Total Resident Services 8,942 8,600 -342 -4 11,000 2,058 19 8,942 -342 -4 11,000 2,058 19 17,200 Utilities Expense Water 19,029 10,706 -8,324 -78 10,612 -8,418 -79 19,029 -8,324 -78 10,612 -8,418 -79 21,411 Electricity 13,766 2,198 -11,568 -526 1,959 -11,807 -603 13,766 -11,568 -526 1,959 -11,807 -603 4,396 Electricity-Vacant Units 2,135 1,400 -735 -53 1,534 -601 -39 2,135 -735 -53 1,534 -601 -39 2,800 Gas 1,222 480 -743 -155 240 -982 -409 1,222 -743 -155 240 -982 -409 959 Gas-Vacant Units 0 2,004 2,004 100 2,113 2,113 100 0 2,004 100 2,113 2,113 100 4,008 Trash Removal Services 7,375 2,820 -4,555 -162 419 -6,956 -1,660 7,375 -4,555 -162 419 -6,956 -1,660 5,640 Total Utility Expenses 43,527 19,607 -23,920 -122 16,876 -26,651 -158 43,527 -23,920 -122 16,876 -26,651 -158 39,215 Maintenance Expenses Maintenance - On Call 25 0 -25 N/A 0 -25 N/A 25 -25 N/A 0 -25 N/A 0 Total General Maint Expense 25 0 -25 N/A 0 -25 N/A 25 -25 N/A 0 -25 N/A 0 Supplies-Grounds 446 129 -317 -245 55 -391 -717 446 -317 -245 55 -391 -717 258 Supplies-Appliances 0 15 15 100 0 0 N/A 0 15 100 0 0 N/A 29 Supplies-Electrical 141 922 781 85 420 279 66 141 781 85 420 279 66 1,844 Supplies-Pest Control 0 22 22 100 0 0 N/A 0 22 100 0 0 N/A 44 Supplies-Janitorial 1,003 214 -789 -369 0 -1,003 N/A 1,003 -789 -369 0 -1,003 N/A 428 Supplies-General 899 0 -899 N/A 110 -789 -719 899 -899 N/A 110 -789 -719 0 Supplies-Plumbing 638 620 -18 -3 665 28 4 638 -18 -3 665 28 4 1,239 Supplies-HVAC 0 259 259 100 9 9 100 0 259 100 9 9 100 518 Supplies-Doors 1,728 338 -1,390 -412 2,234 506 23 1,728 -1,390 -412 2,234 506 23 675 Supplies-Windows 0 150 150 100 2 2 100 0 150 100 2 2 100 300 Total Supplies | Materials 4,854 2,668 -2,187 -82 3,494 -1,360 -39 4,854 -2,187 -82 3,494 -1,360 -39 5,335 Contract-Work Orders - Internal 26,047 4,995 -21,052 -421 11,462 -14,586 -127 26,047 -21,052 -421 11,462 -14,586 -127 9,991 Contract-Preventative - Internal 9,402 9,400 -2 0 5,100 -4,302 -84 9,402 -2 0 5,100 -4,302 -84 18,800 Contract-System Services 330 1,500 1,170 78 0 -330 N/A 330 1,170 78 0 -330 N/A 1,500 Contract-Carpet Cleaning 125 0 -125 N/A 0 -125 N/A 125 -125 N/A 0 -125 N/A 0 Contract-Electrical 0 250 250 100 0 0 N/A 0 250 100 0 0 N/A 500 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 116 of 194136 EXHIBIT: Impala - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Impala, LLLP (voilllp) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Contract-Pest Control 50 1,900 1,850 97 0 -50 N/A 50 1,850 97 0 -50 N/A 3,800 Contract-Grounds 25,708 26,523 815 3 18,878 -6,830 -36 25,708 815 3 18,878 -6,830 -36 53,046 Contract-Janitorial 2,911 2,000 -911 -46 0 -2,911 N/A 2,911 -911 -46 0 -2,911 N/A 5,000 Contract-Plumbing 675 999 324 32 1,546 871 56 675 324 32 1,546 871 56 2,937 Contract-HVAC 0 428 428 100 419 419 100 0 428 100 419 419 100 801 Contract-General 403 500 97 19 1,663 1,259 76 403 97 19 1,663 1,259 76 1,000 Total Contract Costs 65,652 48,495 -17,157 -35 39,067 -26,585 -68 65,652 -17,157 -35 39,067 -26,585 -68 97,374 Total Maintenance Expenses - Core 70,531 51,163 -19,369 -38 42,561 -27,971 -66 70,531 -19,369 -38 42,561 -27,971 -66 102,709 Unit Turn-Work Order 871 2,040 1,169 57 244 -628 -257 871 1,169 57 244 -628 -257 4,080 Unit Turn-External 1,381 3,400 2,019 59 209 -1,172 -562 1,381 2,019 59 209 -1,172 -562 6,800 Unit Turn Materials 368 960 592 62 0 -368 N/A 368 592 62 0 -368 N/A 1,920 Total Unit Turn Costs 2,620 6,400 3,780 59 452 -2,168 -479 2,620 3,780 59 452 -2,168 -479 12,800 Total Maintenance Expenses 73,152 57,563 -15,589 -27 43,013 -30,138 -70 73,152 -15,589 -27 43,013 -30,138 -70 115,509 Insurance & Taxes Expenses Insurance - Property 39,437 44,103 4,666 11 4,772 -34,664 -726 39,437 4,666 11 4,772 -34,664 -726 88,206 Insurance - Liability 1,031 2,830 1,800 64 0 -1,031 N/A 1,031 1,800 64 0 -1,031 N/A 5,661 Insurance - Umbrella 800 2,874 2,074 72 0 -800 N/A 800 2,074 72 0 -800 N/A 5,748 Total Tax & Insurance Expenses 41,267 49,808 8,540 17 4,772 -36,495 -765 41,267 8,540 17 4,772 -36,495 -765 99,615 Other General Expenses Bank Fees 30 5 -25 -487 5 -25 -500 30 -25 -487 5 -25 -500 5 Filing Fees 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 10 Office Supplies 1,016 300 -716 -239 59 -956 -1,609 1,016 -716 -239 59 -956 -1,609 600 Copier and Printer Usage | Supplies 875 0 -875 N/A 0 -875 N/A 875 -875 N/A 0 -875 N/A 0 Meetings Expenses 579 0 -579 N/A 0 -579 N/A 579 -579 N/A 0 -579 N/A 0 Miscellaneous General Expense 0 984 984 100 0 0 N/A 0 984 100 0 0 N/A 984 Total Other General Expenses 2,500 1,289 -1,211 -94 64 -2,435 -3,779 2,500 -1,211 -94 64 -2,435 -3,779 1,599 Reserve Allowances Reserve Account Funding Allowance 12,540 12,540 0 0 0 -12,540 N/A 12,540 0 0 0 -12,540 N/A 25,080 Total Reserve Allowances 12,540 12,540 0 0 0 -12,540 N/A 12,540 0 0 0 -12,540 N/A 25,080 TOTAL GENERAL EXPENSES 181,928 149,406 -32,521 -22 75,726 -106,201 -140 181,928 -32,521 -22 75,726 -106,201 -140 298,218 TOTAL DIRECT OPERATING EXPENSES 336,833 269,248 -67,586 -25 118,104 -218,729 -185 336,833 -67,586 -25 118,104 -218,729 -185 596,725 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 117 of 194137 EXHIBIT: Impala - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Impala, LLLP (voilllp) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is TOTAL OPERATING EXPENSES 336,833 269,248 -67,586 -25 118,104 -218,729 -185 336,833 -67,586 -25 118,104 -218,729 -185 596,725 NET OPERATING INCOME 146,917 80,462 66,455 83 9,369 137,548 1,468 146,917 66,455 83 9,369 137,548 1,468 520,704 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 144,398 149,041 4,642 3 73,144 -71,255 -97 144,398 4,642 3 73,144 -71,255 -97 298,081 144,398 149,041 4,642 3 73,144 -71,255 -97 144,398 4,642 3 73,144 -71,255 -97 298,081 Depreciation - Buildings 70,000 70,000 0 0 70,000 0 0 70,000 0 0 70,000 0 0 140,000 Depreciation - Furn,Fix,Equip - Units 684 0 -684 N/A 0 -684 N/A 684 -684 N/A 0 -684 N/A 0 70,684 70,000 -684 -1 70,000 -684 -1 70,684 -684 -1 70,000 -684 -1 140,000 TOTAL NON OPERATING EXPENSES 215,082 219,041 3,959 2 143,144 -71,938 -50 215,082 3,959 2 143,144 -71,938 -50 438,081 PARTNERSHIP INCOME(EXPENSES) Partnership Expenses 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A -23,819 TOTAL PARTNERSHIP INCOME(EXPENSES)0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A -23,819 NET NON-OPERATING INCOME(EXPENSE)-215,082 -219,041 3,959 2 -143,144 -71,938 -50 -215,082 3,959 2 -143,144 -71,938 -50 -461,900 NET INCOME (LOSS)-68,165 -138,579 70,414 51 -133,775 65,610 49 -68,165 70,414 51 -133,775 65,610 49 58,803 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 118 of 194138 EXHIBIT: Impala - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 134,668 134,668 134,668 134,668 134,668 134,668 129,058 129,058 129,058 129,058 129,058 1,582,356 1,338,641 243,715 18 (Loss) Gain to Lease -1,849 -2,136 -2,349 -1,623 -3,405 -2,595 0 0 0 0 0 -13,957 0 -13,957 N/A Less: Vacancies -109,511 -87,827 -58,728 -21,309 -4,399 -1,698 0 0 0 0 0 -283,472 -210,055 -73,417 35 Less: Concessions -283 -179 -1,049 -6,345 -12,942 -3,694 0 0 0 0 0 -24,492 0 -24,492 N/A NET POTENTIAL RENT 23,025 44,526 72,542 105,391 113,922 126,681 129,058 129,058 129,058 129,058 129,058 1,260,435 1,128,586 131,849 12 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs 0 0 0 -100 0 -25 0 0 0 0 0 -125 0 -125 N/A Less: Allowance for Doubtful Accounts -1,347 -1,347 -1,347 -1,347 -1,347 -1,347 -1,291 -1,291 -1,291 -1,291 -1,291 -15,824 -13,386 -2,437 18 Pet Rent 47 85 143 311 380 410 0 0 0 0 0 1,376 0 1,376 N/A NET POTENTIAL RENT ADJUSTMENTS -1,300 -1,262 -1,204 -1,136 -967 -962 -1,291 -1,291 -1,291 -1,291 -1,291 -14,573 -13,386 -1,186 9 NET RENTAL INCOME 21,725 43,264 71,338 104,255 112,955 125,719 127,767 127,767 127,767 127,767 127,767 1,245,862 1,115,200 130,663 12 OTHER TENANT INCOME Late Charges 50 100 150 275 350 300 50 50 50 50 50 1,525 600 925 154 NSF Charges 0 0 0 0 0 0 0 0 0 0 25 50 100 -50 -50 Utility Reimb.-Tenant 0 457 55 101 105 0 91 91 91 91 91 1,263 1,089 173 16 Misc.Tenant Income 300 350 650 350 -425 50 0 0 0 0 0 1,275 0 1,275 N/A Tenant Work Orders 0 1,025 0 64 52 40 15 15 15 15 15 1,270 179 1,090 608 TOTAL OTHER TENANT INCOME 350 1,931 855 790 81 390 156 156 156 156 181 5,382 1,969 3,413 173 EFFECTIVE GROSS INCOME 22,075 45,196 72,194 105,045 113,037 126,109 127,923 127,923 127,923 127,923 127,948 1,251,245 1,117,168 134,076 12 OTHER INCOME Interest Income - Unrestricted 17 14 16 15 16 17 22 22 22 22 22 225 260 -35 -13 TOTAL OTHER INCOME 17 14 16 15 16 17 22 22 22 22 22 225 260 -35 -13 TOTAL OPERATING REVENUE 22,092 45,210 72,210 105,061 113,052 126,126 127,945 127,945 127,945 127,945 127,970 1,251,469 1,117,428 134,041 12 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 8,665 8,665 8,665 8,665 8,665 8,665 8,665 8,665 8,665 8,665 8,665 103,982 103,985 2 0 Total Labor Expenses 8,665 8,665 8,665 8,665 8,665 8,665 8,665 8,665 8,665 8,665 8,665 103,982 103,985 2 0 Legal Expense Legal-Criminal Background Checks 0 1,291 872 1,390 666 126 0 0 0 0 0 4,344 0 -4,344 N/A Legal-Tenant Screening 0 0 0 0 0 0 55 110 0 0 55 275 465 190 41 Legal-General Expense 100 0 0 100 0 107 417 417 417 417 417 2,807 5,000 2,193 44 12 Month Actual to Budget Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 119 of 194139 EXHIBIT: Impala - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Impala, LLLP (voilllp) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Legal Expense 100 1,291 872 1,490 666 232 472 527 417 417 472 7,426 5,465 -1,961 -36 Management Related Expense Property Management Expense 1,892 3,755 5,938 8,729 9,274 10,306 10,440 10,440 10,440 10,440 10,442 102,540 91,515 -11,024 -12 Accounting/Bookkeeping Expense 1,300 2,582 4,082 6,001 6,376 7,086 7,178 7,178 7,178 7,178 7,179 70,496 62,917 -7,579 -12 Total Management Related Expenses 3,192 6,337 10,020 14,730 15,650 17,392 17,618 17,618 17,618 17,618 17,621 173,036 154,432 -18,604 -12 Other Administrative Expenses Mileage 0 0 0 101 150 34 25 25 25 25 25 436 300 -136 -45 Auditing & Tax Services 0 1,050 1,969 1,888 1,227 1,227 858 858 858 858 858 12,508 10,296 -2,212 -21 Marketing 76 0 180 250 -2,000 947 0 0 823 803 0 1,079 1,626 547 34 Resident Relocation 0 0 29 0 0 0 0 0 0 0 0 29 0 -29 N/A Consultants 0 214 1,282 1,680 2,100 5,000 0 0 0 0 0 10,276 0 -10,276 N/A Security Services 0 0 0 0 0 0 167 167 167 167 167 1,000 2,000 1,000 50 Miscellaneous Admin Expenses 0 32 0 29 40 0 0 0 0 0 0 100 0 -100 N/A Total Other Administrative Expenses 76 1,296 3,460 3,949 1,517 7,208 1,050 1,050 1,873 1,852 1,050 25,429 14,222 -11,207 -79 Technology Expenses Managed Services - Internal 904 904 904 904 904 904 904 904 904 904 904 10,845 10,842 -3 0 Internet Services 0 148 270 143 255 255 0 0 0 0 0 1,071 0 -1,071 N/A Total Technology Expenses 904 1,052 1,174 1,047 1,159 1,159 904 904 904 904 904 11,916 10,842 -1,074 -10 Compliance Expenses Compliance Services - Internal 705 705 705 705 705 705 705 705 705 705 705 8,458 8,456 -2 0 Compliance Services - Consultants 740 540 910 390 105 30 135 205 0 0 135 3,325 1,105 -2,220 -201 Total Compliance Expenses 1,445 1,245 1,615 1,095 810 735 840 910 705 705 840 11,783 9,561 -2,222 -23 TOTAL ADMINISTRATIVE EXPENSES 14,382 19,885 25,806 30,975 28,466 35,391 29,548 29,673 30,181 30,161 29,551 333,571 298,507 -35,065 -12 GENERAL EXPENSES Resident Services Resident Services - Internal 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 17,198 17,200 2 0 Resident Services - External 172 172 0 0 0 0 0 0 0 0 0 344 0 -344 N/A Total Resident Services 1,605 1,605 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 1,433 17,542 17,200 -342 -2 Utilities Expense Water 2,295 2,301 1,657 5,857 2,515 4,405 1,784 1,784 1,784 1,784 1,784 29,735 21,411 -8,324 -39 Electricity 333 125 3,878 8,133 585 710 366 366 366 366 366 15,964 4,396 -11,568 -263 Electricity-Vacant Units 0 699 1,437 0 0 0 233 233 233 233 233 3,535 2,800 -735 -26 Gas 618 417 156 24 7 0 80 80 80 80 80 1,702 959 -743 -77 Gas-Vacant Units 0 0 0 0 0 0 334 334 334 334 334 2,004 4,008 2,004 50 Trash Removal Services 2,311 1,570 -294 0 2,101 1,686 470 470 470 470 470 10,195 5,640 -4,555 -81 Total Utility Expenses 5,557 5,113 6,834 14,014 5,208 6,801 3,268 3,268 3,268 3,268 3,268 63,134 39,215 -23,920 -61 Maintenance Expenses Maintenance - On Call 0 0 0 13 0 13 0 0 0 0 0 25 0 -25 N/A Total General Maint Expense 0 0 0 13 0 13 0 0 0 0 0 25 0 -25 N/A HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 120 of 194140 EXHIBIT: Impala - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Impala, LLLP (voilllp) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Supplies-Grounds 0 0 0 339 81 26 22 22 22 22 22 575 258 -317 -123 Supplies-Appliances 0 0 0 0 0 0 2 2 2 2 2 15 29 15 50 Supplies-Electrical 0 31 18 0 0 92 154 154 154 154 154 1,063 1,844 781 42 Supplies-Pest Control 0 0 0 0 0 0 4 4 4 4 4 22 44 22 50 Supplies-Janitorial 15 239 587 35 46 81 102 2 102 2 2 1,217 428 -789 -184 Supplies-General 93 207 351 0 70 178 0 0 0 0 0 899 0 -899 N/A Supplies-Plumbing 33 0 28 243 97 237 103 103 103 103 103 1,257 1,239 -18 -1 Supplies-HVAC 0 0 0 0 0 0 3 3 243 3 3 259 518 259 50 Supplies-Doors 223 1,008 48 298 32 119 56 56 56 56 56 2,065 675 -1,390 -206 Supplies-Windows 0 0 0 0 0 0 25 25 25 25 25 150 300 150 50 Total Supplies | Materials 364 1,486 1,031 915 326 732 471 371 711 371 371 7,522 5,335 -2,187 -41 Contract-Work Orders - Internal 4,948 4,823 3,974 5,610 3,484 3,209 833 833 833 833 833 31,043 9,991 -21,052 -211 Contract-Preventative - Internal 1,567 1,567 1,567 1,567 1,567 1,567 1,567 1,567 1,567 1,567 1,567 18,802 18,800 -2 0 Contract-System Services 0 0 0 0 0 330 0 0 0 0 0 330 1,500 1,170 78 Contract-Carpet Cleaning 0 0 125 0 0 0 0 0 0 0 0 125 0 -125 N/A Contract-Electrical 0 0 0 0 0 0 250 0 0 0 0 250 500 250 50 Contract-Pest Control -250 300 0 0 0 0 550 200 550 200 200 1,950 3,800 1,850 49 Contract-Grounds 5,283 3,385 8,310 0 6,070 2,661 4,420 4,420 4,420 4,420 4,420 52,231 53,046 815 2 Contract-Janitorial 0 0 0 0 2,911 0 500 500 500 500 500 5,911 5,000 -911 -18 Contract-Plumbing 0 0 315 360 0 0 0 1,135 266 0 138 2,613 2,937 324 11 Contract-HVAC 0 0 0 0 0 0 0 0 0 0 372 372 801 428 53 Contract-General 0 0 65 0 277 61 250 0 250 0 0 903 1,000 97 10 Total Contract Costs 11,548 10,075 14,355 7,537 14,309 7,828 8,370 8,655 8,385 7,520 8,030 114,531 97,374 -17,157 -18 Total Maintenance Expenses - Core 11,912 11,561 15,386 8,465 14,635 8,572 8,841 9,026 9,097 7,891 8,401 122,078 102,709 -19,369 -19 Unit Turn-Work Order 0 191 0 0 0 680 340 340 340 340 340 2,911 4,080 1,169 29 Unit Turn-External 0 0 0 146 0 1,235 567 567 567 567 567 4,781 6,800 2,019 30 Unit Turn Materials 0 0 0 0 0 368 160 160 160 160 160 1,328 1,920 592 31 Total Unit Turn Costs 0 191 0 146 0 2,283 1,067 1,067 1,067 1,067 1,067 9,020 12,800 3,780 30 Total Maintenance Expenses 11,912 11,752 15,386 8,611 14,635 10,855 9,908 10,093 10,163 8,958 9,468 131,098 115,509 -15,589 -13 Insurance & Taxes Expenses Insurance - Property 1,880 1,880 4,223 7,732 17,148 6,573 7,350 7,350 7,350 7,350 7,350 83,540 88,206 4,666 5 Insurance - Liability 172 172 423 726 -633 172 472 472 472 472 472 3,861 5,661 1,800 32 Insurance - Umbrella 0 267 133 133 133 133 479 479 479 479 479 3,674 5,748 2,074 36 Total Tax & Insurance Expenses 2,052 2,319 4,779 8,591 16,648 6,878 8,301 8,301 8,301 8,301 8,301 91,075 99,615 8,540 9 Other General Expenses Bank Fees 30 10 -3 -7 0 0 0 0 26 -26 0 30 5 -25 -487 Filing Fees 0 0 0 0 0 0 10 0 0 0 0 10 10 0 0 Office Supplies 0 82 416 203 279 37 50 50 50 50 50 1,316 600 -716 -119 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 121 of 194141 EXHIBIT: Impala - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Impala, LLLP (voilllp) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Copier and Printer Usage | Supplies 0 0 275 0 400 200 0 0 0 0 0 875 0 -875 N/A Meetings Expenses 0 0 0 0 172 407 0 0 0 0 0 579 0 -579 N/A Miscellaneous General Expense 0 0 0 0 0 0 0 0 0 0 0 0 984 984 100 Total Other General Expenses 30 92 688 196 850 644 60 50 76 24 50 2,810 1,599 -1,211 -76 Reserve Allowances Reserve Account Funding Allowance 0 2,508 2,508 2,508 2,508 2,508 2,090 2,090 2,090 2,090 2,090 25,080 25,080 0 0 Total Reserve Allowances 0 2,508 2,508 2,508 2,508 2,508 2,090 2,090 2,090 2,090 2,090 25,080 25,080 0 0 TOTAL GENERAL EXPENSES 21,156 23,389 31,628 35,352 41,283 29,119 25,060 25,235 25,331 24,075 24,611 330,739 298,218 -32,521 -11 TOTAL DIRECT OPERATING EXPENSES 35,538 43,274 57,434 66,328 69,749 64,510 54,608 54,908 55,513 54,235 54,162 664,310 596,725 -67,586 -11 TOTAL OPERATING EXPENSES 35,538 43,274 57,434 66,328 69,749 64,510 54,608 54,908 55,513 54,235 54,162 664,310 596,725 -67,586 -11 NET OPERATING INCOME -13,446 1,936 14,775 38,733 43,303 61,616 73,337 73,037 72,432 73,710 73,808 587,159 520,704 66,455 13 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 12,650 26,350 26,350 26,350 26,350 26,350 24,840 24,840 24,840 24,840 24,840 293,439 298,081 4,642 2 12,650 26,350 26,350 26,350 26,350 26,350 24,840 24,840 24,840 24,840 24,840 293,439 298,081 4,642 2 Depreciation - Buildings 11,667 11,667 11,667 11,667 11,667 11,667 11,667 11,667 11,667 11,667 11,667 140,000 140,000 0 0 Depreciation - Furn,Fix,Equip - Units 114 114 114 114 114 114 0 0 0 0 0 684 0 -684 N/A 11,781 11,781 11,781 11,781 11,781 11,781 11,667 11,667 11,667 11,667 11,667 140,684 140,000 -684 0 TOTAL NON OPERATING EXPENSES 24,430 38,130 38,130 38,130 38,130 38,130 36,507 36,507 36,507 36,507 36,507 434,123 438,081 3,959 1 PARTNERSHIP INCOME(EXPENSES) Partnership Expenses 0 0 0 0 0 0 0 0 0 0 -23,819 -23,819 -23,819 0 0 TOTAL PARTNERSHIP INCOME(EXPENSES)0 0 0 0 0 0 0 0 0 0 -23,819 -23,819 -23,819 0 0 NET NON-OPERATING INCOME(EXPENSE)-24,430 -38,130 -38,130 -38,130 -38,130 -38,130 -36,507 -36,507 -36,507 -36,507 -60,326 -457,942 -461,900 3,959 -1 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 122 of 194142 EXHIBIT: Oak140 - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 603,450 620,688 -17,238 -3 524,717 78,733 15 603,450 -17,238 -3 524,717 78,733 15 1,256,514 (Loss) Gain to Lease -38,274 -51,148 12,874 25 19,555 -57,829 -296 -38,274 12,874 25 19,555 -57,829 -296 -107,908 Less: Vacancies -25,863 -18,621 -7,242 -39 -11,923 -13,940 -117 -25,863 -7,242 -39 -11,923 -13,940 -117 -37,695 Less: Concessions -230 0 -230 N/A 0 -230 N/A -230 -230 N/A 0 -230 N/A 0 Less: Prepaid Rents 0 0 0 N/A -11 11 100 0 0 N/A -11 11 100 0 NET POTENTIAL RENT 539,083 550,919 -11,836 -2 532,338 6,745 1 539,083 -11,836 -2 532,338 6,745 1 1,110,911 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -125 2,502 -2,627 -105 -2,178 2,053 94 -125 -2,627 -105 -2,178 2,053 94 5,004 Less: Allowance for Doubtful Accounts -8,448 -7,774 -674 -9 0 -8,448 N/A -8,448 -674 -9 0 -8,448 N/A -15,549 Pet Rent 1,578 600 978 163 820 758 92 1,578 978 163 820 758 92 1,200 NET POTENTIAL RENT ADJUSTMENTS -6,995 -4,672 -2,323 -50 -1,358 -5,638 -415 -6,995 -2,323 -50 -1,358 -5,638 -415 -9,345 NET RENTAL INCOME 532,088 546,246 -14,159 -3 530,980 1,107 0 532,088 -14,159 -3 530,980 1,107 0 1,101,566 OTHER TENANT INCOME Late Charges 1,225 1,600 -375 -23 2,150 -925 -43 1,225 -375 -23 2,150 -925 -43 3,200 Legal Fees - Tenant 2,838 1,363 1,474 108 1,663 1,174 71 2,838 1,474 108 1,663 1,174 71 2,727 NSF Charges 75 50 25 50 150 -75 -50 75 25 50 150 -75 -50 100 Utility Reimb.-Tenant 1,768 433 1,335 308 956 813 85 1,768 1,335 308 956 813 85 866 Misc.Tenant Income -575 450 -1,025 -228 2,024 -2,599 -128 -575 -1,025 -228 2,024 -2,599 -128 899 Tenant Work Orders 19,731 1,904 17,827 936 2,856 16,875 591 19,731 17,827 936 2,856 16,875 591 3,809 TOTAL OTHER TENANT INCOME 25,062 5,800 19,262 332 9,799 15,263 156 25,062 19,262 332 9,799 15,263 156 11,601 EFFECTIVE GROSS INCOME 557,150 552,047 5,103 1 540,779 16,371 3 557,150 5,103 1 540,779 16,371 3 1,113,167 OTHER INCOME Interest Income - Unrestricted 8,800 15,011 -6,211 -41 20,335 -11,535 -57 8,800 -6,211 -41 20,335 -11,535 -57 30,021 TOTAL OTHER INCOME 8,800 15,011 -6,211 -41 20,335 -11,535 -57 8,800 -6,211 -41 20,335 -11,535 -57 30,021 TOTAL OPERATING REVENUE 565,950 567,058 -1,108 0 561,114 4,836 1 565,950 -1,108 0 561,114 4,836 1 1,143,188 OPERATING EXPENSES Oak 140, LLLP (oak140) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 123 of 194143 EXHIBIT: Oak140 - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Oak 140, LLLP (oak140) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 56,844 56,845 1 0 65,946 9,102 14 56,844 1 0 65,946 9,102 14 113,690 Total Labor Expenses 56,844 56,845 1 0 65,946 9,102 14 56,844 1 0 65,946 9,102 14 113,690 Legal Expense Legal-Criminal Background Checks 1,113 3 -1,110 -43,377 0 -1,113 N/A 1,113 -1,110 -43,377 0 -1,113 N/A 15 Legal-Tenant Screening 5 2,965 2,960 100 0 -5 N/A 5 2,960 100 0 -5 N/A 3,775 Legal-General Expense 8,256 1,879 -6,378 -340 4,254 -4,002 -94 8,256 -6,378 -340 4,254 -4,002 -94 5,135 Total Legal Expense 9,374 4,846 -4,528 -93 4,254 -5,120 -120 9,374 -4,528 -93 4,254 -5,120 -120 8,925 Management Related Expense Property Management Expense 40,093 39,557 -537 -1 37,991 -2,102 -6 40,093 -537 -1 37,991 -2,102 -6 79,748 Accounting/Bookkeeping Expense 32,862 33,558 696 2 31,977 -885 -3 32,862 696 2 31,977 -885 -3 67,660 Total Management Related Expenses 72,955 73,114 159 0 69,968 -2,987 -4 72,955 159 0 69,968 -2,987 -4 147,408 Other Administrative Expenses Staff Training & Conferences 245 0 -245 N/A 0 -245 N/A 245 -245 N/A 0 -245 N/A 0 Mileage 167 60 -107 -179 0 -167 N/A 167 -107 -179 0 -167 N/A 120 Meals - Business Partners 29 0 -29 N/A 0 -29 N/A 29 -29 N/A 0 -29 N/A 0 Auditing & Tax Services 5,115 5,148 33 1 1,900 -3,215 -169 5,115 33 1 1,900 -3,215 -169 10,296 Tax Credit Monitoring 2,683 5,397 2,714 50 5,295 2,612 49 2,683 2,714 50 5,295 2,612 49 18,909 Marketing 50 120 70 58 0 -50 N/A 50 70 58 0 -50 N/A 149 Resident Relocation 0 0 0 N/A 200 200 100 0 0 N/A 200 200 100 0 Consultants 900 0 -900 N/A 30 -870 -2,900 900 -900 N/A 30 -870 -2,900 0 Security Services 3,037 4,860 1,823 38 2,336 -701 -30 3,037 1,823 38 2,336 -701 -30 9,720 Miscellaneous Admin Expenses 95 0 -95 N/A 50 -45 -90 95 -95 N/A 50 -45 -90 0 Total Other Administrative Expenses 12,321 15,585 3,264 21 9,811 -2,510 -26 12,321 3,264 21 9,811 -2,510 -26 39,194 Technology Expenses Managed Services - Internal 5,928 5,927 -1 0 6,954 1,026 15 5,928 -1 0 6,954 1,026 15 11,854 Telephone - Landline|Virtual 114 0 -114 N/A 449 335 75 114 -114 N/A 449 335 75 0 Internet Services 1,824 1,798 -27 -1 2,099 275 13 1,824 -27 -1 2,099 275 13 3,592 Total Technology Expenses 7,866 7,725 -142 -2 9,502 1,636 17 7,866 -142 -2 9,502 1,636 17 15,446 Compliance Expenses Compliance Services - Internal 3,882 3,884 2 0 7,184 3,302 46 3,882 2 0 7,184 3,302 46 7,767 Compliance Services - Consultants 570 2,965 2,395 81 470 -100 -21 570 2,395 81 470 -100 -21 3,775 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 124 of 194144 EXHIBIT: Oak140 - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Oak 140, LLLP (oak140) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Compliance Expenses 4,452 6,849 2,397 35 7,654 3,202 42 4,452 2,397 35 7,654 3,202 42 11,542 TOTAL ADMINISTRATIVE EXPENSES 163,813 164,963 1,150 1 167,136 3,323 2 163,813 1,150 1 167,136 3,323 2 336,205 GENERAL EXPENSES Resident Services Resident Services - Internal 15,798 15,800 2 0 12,400 -3,398 -27 15,798 2 0 12,400 -3,398 -27 31,600 Resident Services - External 316 0 -316 N/A 0 -316 N/A 316 -316 N/A 0 -316 N/A 0 Total Resident Services 16,114 15,800 -314 -2 12,400 -3,714 -30 16,114 -314 -2 12,400 -3,714 -30 31,600 Utilities Expense Water 10,672 26,000 15,328 59 12,391 1,719 14 10,672 15,328 59 12,391 1,719 14 52,000 Electricity 23,685 17,000 -6,685 -39 30,561 6,876 22 23,685 -6,685 -39 30,561 6,876 22 34,000 Electricity-Vacant Units 1,303 634 -670 -106 430 -874 -203 1,303 -670 -106 430 -874 -203 1,267 Gas 5,654 1,258 -4,396 -350 6,319 665 11 5,654 -4,396 -350 6,319 665 11 2,515 Gas-Vacant Units 0 332 332 100 0 0 N/A 0 332 100 0 0 N/A 663 Trash Removal Services 6,728 6,347 -381 -6 6,210 -518 -8 6,728 -381 -6 6,210 -518 -8 12,693 Total Utility Expenses 48,042 51,569 3,527 7 55,911 7,869 14 48,042 3,527 7 55,911 7,869 14 103,138 Maintenance Expenses Maintenance - On Call 144 0 -144 N/A 0 -144 N/A 144 -144 N/A 0 -144 N/A 0 Total General Maint Expense 144 0 -144 N/A 0 -144 N/A 144 -144 N/A 0 -144 N/A 0 Supplies-Grounds 586 1,494 908 61 330 -256 -78 586 908 61 330 -256 -78 2,989 Supplies-Appliances 173 255 82 32 97 -76 -78 173 82 32 97 -76 -78 510 Supplies-Electrical 1,465 173 -1,292 -748 261 -1,204 -462 1,465 -1,292 -748 261 -1,204 -462 346 Supplies-Janitorial 455 448 -8 -2 484 29 6 455 -8 -2 484 29 6 895 Supplies-General 322 0 -322 N/A 735 413 56 322 -322 N/A 735 413 56 0 Supplies-Plumbing 530 611 81 13 156 -375 -241 530 81 13 156 -375 -241 1,222 Supplies-Paint 22 0 -22 N/A 421 398 95 22 -22 N/A 421 398 95 0 Supplies-HVAC 185 193 8 4 387 202 52 185 8 4 387 202 52 386 Supplies-Doors 830 1,537 707 46 1,780 950 53 830 707 46 1,780 950 53 3,073 Supplies-Windows 0 15 15 100 0 0 N/A 0 15 100 0 0 N/A 30 Total Supplies | Materials 4,568 4,725 157 3 4,650 81 2 4,568 157 3 4,650 81 2 9,450 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 125 of 194145 EXHIBIT: Oak140 - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Oak 140, LLLP (oak140) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Contract-Work Orders - Internal 17,583 16,338 -1,244 -8 16,641 -941 -6 17,583 -1,244 -8 16,641 -941 -6 32,676 Contract-Preventative - Internal 7,747 8,250 503 6 15,442 7,695 50 7,747 503 6 15,442 7,695 50 16,500 Contract-System Services 7,663 5,530 -2,133 -39 7,698 35 0 7,663 -2,133 -39 7,698 35 0 8,271 Contract-Appliance 837 0 -837 N/A 178 -659 -370 837 -837 N/A 178 -659 -370 456 Contract-Carpet Cleaning 1,403 429 -974 -227 420 -983 -234 1,403 -974 -227 420 -983 -234 1,073 Contract-Electrical 264 1,498 1,234 82 1,553 1,289 83 264 1,234 82 1,553 1,289 83 1,498 Contract-Pest Control 773 1,828 1,055 58 0 -773 N/A 773 1,055 58 0 -773 N/A 3,656 Contract-Grounds 4,120 5,212 1,092 21 5,652 1,532 27 4,120 1,092 21 5,652 1,532 27 9,425 Contract-Janitorial 15,862 17,669 1,807 10 12,752 -3,110 -24 15,862 1,807 10 12,752 -3,110 -24 35,338 Contract-Plumbing 1,041 576 -466 -81 563 -478 -85 1,041 -466 -81 563 -478 -85 1,204 Contract-HVAC 0 0 0 N/A 338 338 100 0 0 N/A 338 338 100 0 Contract-Windows 2,509 0 -2,509 N/A 0 -2,509 N/A 2,509 -2,509 N/A 0 -2,509 N/A 0 Contract-Elevators 5,966 31 -5,935 -19,357 30 -5,936 -19,785 5,966 -5,935 -19,357 30 -5,936 -19,785 2,006 Contract-General 647 4,349 3,701 85 1,947 1,300 67 647 3,701 85 1,947 1,300 67 5,327 Total Contract Costs 66,415 61,711 -4,704 -8 63,215 -3,200 -5 66,415 -4,704 -8 63,215 -3,200 -5 117,430 Total Maintenance Expenses - Core 71,127 66,436 -4,691 -7 67,864 -3,263 -5 71,127 -4,691 -7 67,864 -3,263 -5 126,880 Unit Turn-Work Order 7,926 6,120 -1,806 -30 6,131 -1,795 -29 7,926 -1,806 -30 6,131 -1,795 -29 12,240 Unit Turn-External 14,312 10,200 -4,112 -40 3,446 -10,866 -315 14,312 -4,112 -40 3,446 -10,866 -315 20,400 Unit Turn Materials 2,113 2,880 767 27 0 -2,113 N/A 2,113 767 27 0 -2,113 N/A 5,760 Total Unit Turn Costs 24,351 19,200 -5,151 -27 9,577 -14,774 -154 24,351 -5,151 -27 9,577 -14,774 -154 38,400 Total Maintenance Expenses 95,478 85,636 -9,842 -11 77,441 -18,037 -23 95,478 -9,842 -11 77,441 -18,037 -23 165,280 Vehicle-Fuel 92 0 -92 N/A 0 -92 N/A 92 -92 N/A 0 -92 N/A 0 Total Vehicle Expenses 92 0 -92 N/A 0 -92 N/A 92 -92 N/A 0 -92 N/A 0 Insurance & Taxes Expenses Insurance - Property 31,856 41,193 9,337 23 35,449 3,593 10 31,856 9,337 23 35,449 3,593 10 82,386 Insurance - Liability 2,232 2,535 303 12 0 -2,232 N/A 2,232 303 12 0 -2,232 N/A 5,070 Insurance - Umbrella 2,494 2,529 35 1 0 -2,494 N/A 2,494 35 1 0 -2,494 N/A 5,058 Total Tax & Insurance Expenses 36,581 46,257 9,676 21 35,449 -1,133 -3 36,581 9,676 21 35,449 -1,133 -3 92,514 Other General Expenses Membership and Fees 100 0 -100 N/A 0 -100 N/A 100 -100 N/A 0 -100 N/A 0 Bank Fees 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 1,022 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 126 of 194146 EXHIBIT: Oak140 - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Oak 140, LLLP (oak140) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Filing Fees 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 10 Office Supplies 348 600 252 42 362 14 4 348 252 42 362 14 4 1,200 Copier and Printer Usage | Supplies 1,816 1,756 -60 -3 2,257 441 20 1,816 -60 -3 2,257 441 20 3,667 Postage Usage | Supplies 0 0 0 N/A 20 20 100 0 0 N/A 20 20 100 0 Miscellaneous General Expense 0 474 474 100 4,526 4,526 100 0 474 100 4,526 4,526 100 948 Total Other General Expenses 2,263 2,830 566 20 7,165 4,902 68 2,263 566 20 7,165 4,902 68 6,848 Reserve Allowances Reserve Account Funding Allowance 12,570 12,570 0 0 13,839 1,269 9 12,570 0 0 13,839 1,269 9 25,140 Total Reserve Allowances 12,570 12,570 0 0 13,839 1,269 9 12,570 0 0 13,839 1,269 9 25,140 TOTAL GENERAL EXPENSES 211,142 214,662 3,520 2 202,205 -8,937 -4 211,142 3,520 2 202,205 -8,937 -4 424,520 TOTAL DIRECT OPERATING EXPENSES 374,955 379,625 4,670 1 369,340 -5,614 -2 374,955 4,670 1 369,340 -5,614 -2 760,725 TOTAL OPERATING EXPENSES 374,955 379,625 4,670 1 369,340 -5,614 -2 374,955 4,670 1 369,340 -5,614 -2 760,725 NET OPERATING INCOME 190,995 187,433 3,563 2 191,774 -778 0 190,995 3,563 2 191,774 -778 0 382,463 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 46,933 46,933 0 0 46,327 -606 -1 46,933 0 0 46,327 -606 -1 93,867 Interest Expense - Hard Loans 85,953 117,920 31,967 27 90,898 4,945 5 85,953 31,967 27 90,898 4,945 5 245,064 Interest Expense - Loan Fees 11,517 11,517 0 0 11,517 0 0 11,517 0 0 11,517 0 0 23,034 144,404 176,371 31,967 18 148,743 4,339 3 144,404 31,967 18 148,743 4,339 3 361,965 Depreciation - Buildings 406,607 407,643 1,035 0 407,643 1,035 0 406,607 1,035 0 407,643 1,035 0 815,285 Depreciation - Furn,Fix,Equip - Units 102,676 102,644 -32 0 102,644 -32 0 102,676 -32 0 102,644 -32 0 205,288 Depreciation - Furn,Fix,Equip - Common 78,653 78,999 345 0 78,609 -44 0 78,653 345 0 78,609 -44 0 157,997 Depreciation - Improvements 6,034 6,034 0 0 6,034 0 0 6,034 0 0 6,034 0 0 12,069 Amortization - Tax Credit Fees 8,150 8,150 0 0 8,150 0 0 8,150 0 0 8,150 0 0 16,301 602,121 603,470 1,349 0 603,080 960 0 602,121 1,349 0 603,080 960 0 1,206,940 TOTAL NON OPERATING EXPENSES 746,525 779,841 33,316 4 751,823 5,299 1 746,525 33,316 4 751,823 5,299 1 1,568,905 PARTNERSHIP INCOME(EXPENSES) Partnership - Management Fee Expense -1,366 0 -1,366 N/A 0 -1,366 N/A -1,366 -1,366 N/A 0 -1,366 N/A 0 TOTAL PARTNERSHIP INCOME(EXPENSES)-1,366 0 -1,366 N/A 0 -1,366 N/A -1,366 -1,366 N/A 0 -1,366 N/A 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 127 of 194147 EXHIBIT: Oak140 - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Oak 140, LLLP (oak140) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is NET NON-OPERATING INCOME(EXPENSE)-747,890 -779,841 31,951 4 -751,823 3,933 1 -747,890 31,951 4 -751,823 3,933 1 -1,568,905 NET INCOME (LOSS)-556,895 -592,408 35,513 6 -560,049 3,154 1 -556,895 35,513 6 -560,049 3,154 1 -1,186,442 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 128 of 194148 EXHIBIT: Oak140 - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 100,575 100,575 100,575 100,575 100,575 100,575 105,971 105,971 105,971 105,971 105,971 1,239,276 1,256,514 -17,238 -1 (Loss) Gain to Lease -7,939 -7,031 -6,354 -5,806 -5,526 -5,618 -9,680 -9,416 -9,416 -9,416 -9,416 -95,034 -107,908 12,874 -12 Less: Vacancies -255 -4,124 -6,388 -4,634 -5,119 -5,343 -3,179 -3,179 -3,179 -3,179 -3,179 -44,937 -37,695 -7,242 19 Less: Concessions 0 0 -33 3 -112 -88 0 0 0 0 0 -230 0 -230 N/A NET POTENTIAL RENT 92,381 89,420 87,800 90,138 89,818 89,526 93,112 93,376 93,376 93,376 93,376 1,099,075 1,110,911 -11,836 -1 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -25 -25 0 0 -50 -25 417 417 417 417 417 2,377 5,004 -2,627 -52 Less: Allowance for Doubtful Accounts -1,408 -1,408 -1,408 -1,408 -1,408 -1,408 -1,296 -1,296 -1,296 -1,296 -1,296 -16,223 -15,549 -674 4 Pet Rent 210 235 242 311 320 260 100 100 100 100 100 2,178 1,200 978 82 NET POTENTIAL RENT ADJUSTMENTS -1,223 -1,198 -1,166 -1,097 -1,138 -1,173 -779 -779 -779 -779 -779 -11,668 -9,345 -2,323 25 NET RENTAL INCOME 91,158 88,222 86,634 89,041 88,680 88,353 92,333 92,597 92,597 92,597 92,597 1,087,407 1,101,566 -14,159 -1 OTHER TENANT INCOME Late Charges 200 250 200 150 225 200 267 267 267 267 267 2,825 3,200 -375 -12 Legal Fees - Tenant 0 0 502 1,552 783 0 227 227 227 227 227 4,201 2,727 1,474 54 NSF Charges 0 50 25 0 0 0 0 0 0 0 25 125 100 25 25 Utility Reimb.-Tenant 523 87 45 816 17 280 72 72 72 72 72 2,202 866 1,335 154 Misc.Tenant Income -375 150 150 125 175 -800 75 75 75 75 75 -125 899 -1,025 -114 Tenant Work Orders 1,659 50 2,121 13,611 195 2,096 317 317 317 317 317 21,635 3,809 17,827 468 TOTAL OTHER TENANT INCOME 2,007 587 3,043 16,254 1,395 1,775 958 958 958 958 983 30,863 11,601 19,262 166 EFFECTIVE GROSS INCOME 93,165 88,809 89,677 105,295 90,075 90,128 93,292 93,556 93,556 93,556 93,581 1,118,270 1,113,167 5,103 0 OTHER INCOME Interest Income - Unrestricted 1,480 1,347 1,502 1,463 1,474 1,534 2,502 2,502 2,502 2,502 2,502 23,811 30,021 -6,211 -21 TOTAL OTHER INCOME 1,480 1,347 1,502 1,463 1,474 1,534 2,502 2,502 2,502 2,502 2,502 23,811 30,021 -6,211 -21 TOTAL OPERATING REVENUE 94,644 90,156 91,179 106,759 91,549 91,663 95,793 96,057 96,057 96,057 96,082 1,142,080 1,143,188 -1,108 0 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 9,474 9,474 9,474 9,474 9,474 9,474 9,474 9,474 9,474 9,474 9,474 113,689 113,690 1 0 Total Labor Expenses 9,474 9,474 9,474 9,474 9,474 9,474 9,474 9,474 9,474 9,474 9,474 113,689 113,690 1 0 Legal Expense Legal-Criminal Background Checks 0 246 238 236 122 272 3 10 0 0 0 1,126 15 -1,110 -7,286 Legal-Tenant Screening 0 5 0 0 0 0 135 135 135 135 135 815 3,775 2,960 78 12 Month Actual to Budget Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 129 of 194149 EXHIBIT: Oak140 - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Oak 140, LLLP (oak140) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Legal-General Expense 0 1,454 1,246 973 901 3,682 0 0 0 368 2,888 11,513 5,135 -6,378 -124 Total Legal Expense 0 1,705 1,483 1,209 1,023 3,954 138 145 135 503 3,023 13,453 8,925 -4,528 -51 Management Related Expense Property Management Expense 6,622 6,412 6,382 6,815 7,324 6,539 6,683 6,701 6,701 6,701 6,703 80,285 79,748 -537 -1 Accounting/Bookkeeping Expense 5,555 5,464 5,367 5,537 5,462 5,477 5,670 5,686 5,686 5,686 5,686 66,964 67,660 696 1 Total Management Related Expenses 12,177 11,876 11,749 12,352 12,786 12,016 12,353 12,387 12,387 12,387 12,389 147,249 147,408 159 0 Other Administrative Expenses Staff Training & Conferences 245 0 0 0 0 0 0 0 0 0 0 245 0 -245 N/A Mileage 0 0 121 30 16 0 10 10 10 10 10 227 120 -107 -89 Meals - Business Partners 29 0 0 0 0 0 0 0 0 0 0 29 0 -29 N/A Auditing & Tax Services 0 0 2,063 569 1,690 793 858 858 858 858 858 10,263 10,296 33 0 Tax Credit Monitoring 219 219 219 1,585 219 219 219 219 1,319 219 11,316 16,195 18,909 2,714 14 Marketing 0 0 50 0 0 0 0 0 0 0 29 79 149 70 47 Consultants 0 0 0 0 900 0 0 0 0 0 0 900 0 -900 N/A Security Services 0 184 1,000 718 635 500 810 810 810 810 810 7,897 9,720 1,823 19 Miscellaneous Admin Expenses 0 95 0 0 0 0 0 0 0 0 0 95 0 -95 N/A Total Other Administrative Expenses 494 498 3,454 2,902 3,460 1,512 1,897 1,897 2,997 1,897 13,023 35,930 39,194 3,264 8 Technology Expenses Managed Services - Internal 988 988 988 988 988 988 988 988 988 988 988 11,855 11,854 -1 0 Telephone - Landline|Virtual 23 0 46 0 24 22 0 0 0 0 0 114 0 -114 N/A Internet Services 300 325 600 0 300 300 299 299 299 299 299 3,618 3,592 -27 -1 Total Technology Expenses 1,311 1,313 1,634 988 1,312 1,310 1,287 1,287 1,287 1,287 1,287 15,587 15,446 -142 -1 Compliance Expenses Compliance Services - Internal 647 647 647 647 647 647 647 647 647 647 647 7,766 7,767 2 0 Compliance Services - Consultants 30 60 180 90 150 60 135 135 135 135 135 1,380 3,775 2,395 63 Total Compliance Expenses 677 707 827 737 797 707 782 782 782 782 782 9,146 11,542 2,397 21 TOTAL ADMINISTRATIVE EXPENSES 24,132 25,573 28,621 27,662 28,852 28,972 25,931 25,973 27,063 26,331 39,979 335,055 336,205 1,150 0 GENERAL EXPENSES Resident Services Resident Services - Internal 2,633 2,633 2,633 2,633 2,633 2,633 2,633 2,633 2,633 2,633 2,633 31,598 31,600 2 0 Resident Services - External 158 158 0 0 0 0 0 0 0 0 0 316 0 -316 N/A Total Resident Services 2,791 2,791 2,633 2,633 2,633 2,633 2,633 2,633 2,633 2,633 2,633 31,914 31,600 -314 -1 Utilities Expense Water 1,751 1,707 1,829 1,811 1,834 1,740 4,333 4,333 4,333 4,333 4,333 36,672 52,000 15,328 29 Electricity 5,458 5,147 4,049 3,370 2,782 2,881 2,833 2,833 2,833 2,833 2,833 40,685 34,000 -6,685 -20 Electricity-Vacant Units 461 50 574 109 84 27 106 106 106 106 106 1,937 1,267 -670 -53 Gas 1,404 1,241 845 887 693 583 210 210 210 210 210 6,911 2,515 -4,396 -175 Gas-Vacant Units 0 0 0 0 0 0 55 55 55 55 55 332 663 332 50 Trash Removal Services 1,035 1,139 2,277 0 1,139 1,139 1,058 1,058 1,058 1,058 1,058 13,074 12,693 -381 -3 Total Utility Expenses 10,109 9,284 9,574 6,177 6,531 6,368 8,595 8,595 8,595 8,595 8,595 99,611 103,138 3,527 3 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 130 of 194150 EXHIBIT: Oak140 - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Oak 140, LLLP (oak140) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Maintenance Expenses Maintenance - On Call 0 0 0 113 0 31 0 0 0 0 0 144 0 -144 N/A Total General Maint Expense 0 0 0 113 0 31 0 0 0 0 0 144 0 -144 N/A Supplies-Grounds 0 139 0 94 283 71 249 249 249 249 249 2,080 2,989 908 30 Supplies-Appliances 150 0 0 0 0 23 42 42 42 42 42 428 510 82 16 Supplies-Electrical 0 27 10 68 1,359 0 29 29 29 29 29 1,638 346 -1,292 -374 Supplies-Janitorial 97 60 0 294 4 0 75 75 75 75 75 903 895 -8 -1 Supplies-General 6 14 13 274 14 0 0 0 0 0 0 322 0 -322 N/A Supplies-Plumbing 0 0 241 144 144 0 102 102 102 102 102 1,142 1,222 81 7 Supplies-Paint 0 0 0 0 22 0 0 0 0 0 0 22 0 -22 N/A Supplies-HVAC 185 0 0 0 0 0 32 32 32 32 32 378 386 8 2 Supplies-Doors 34 223 418 0 75 80 256 256 256 256 256 2,366 3,073 707 23 Supplies-Windows 0 0 0 0 0 0 2 2 2 2 2 15 30 15 50 Total Supplies | Materials 471 464 683 875 1,901 174 788 788 788 788 788 9,294 9,450 157 2 Contract-Work Orders - Internal 3,043 2,814 3,392 3,399 3,337 1,597 2,723 2,723 2,723 2,723 2,723 33,921 32,676 -1,244 -4 Contract-Preventative - Internal 1,291 1,291 1,375 1,207 1,291 1,291 1,375 1,375 1,375 1,375 1,375 15,997 16,500 503 3 Contract-System Services 453 2,248 3,699 0 210 1,052 0 0 0 239 0 10,404 8,271 -2,133 -26 Contract-Appliance 386 0 0 0 451 0 366 0 0 0 90 1,293 456 -837 -184 Contract-Carpet Cleaning 347 691 105 0 0 260 107 0 107 107 215 2,047 1,073 -974 -91 Contract-Electrical 0 0 264 0 0 0 0 0 0 0 0 264 1,498 1,234 82 Contract-Pest Control 0 423 0 175 175 0 538 188 538 188 188 2,601 3,656 1,055 29 Contract-Grounds 1,778 316 931 837 129 129 702 702 702 702 702 8,333 9,425 1,092 12 Contract-Janitorial 1,681 528 2,304 8,371 85 2,893 2,945 2,945 2,945 2,945 2,945 33,531 35,338 1,807 5 Contract-Plumbing 771 120 0 0 0 150 0 0 250 0 0 1,670 1,204 -466 -39 Contract-Windows 1,123 758 628 0 0 0 0 0 0 0 0 2,509 0 -2,509 N/A Contract-Elevators 215 513 0 0 0 5,237 0 1,975 0 0 0 7,941 2,006 -5,935 -296 Contract-General 0 350 0 0 0 297 0 169 278 0 0 1,625 5,327 3,701 69 Total Contract Costs 11,089 10,052 12,698 13,989 5,678 12,908 8,756 10,077 8,919 8,279 8,238 122,134 117,430 -4,704 -4 Total Maintenance Expenses - Core 11,561 10,516 13,381 14,977 7,580 13,113 9,544 10,864 9,706 9,067 9,025 131,572 126,880 -4,691 -4 Unit Turn-Work Order 0 2,104 935 744 1,658 2,486 1,020 1,020 1,020 1,020 1,020 14,046 12,240 -1,806 -15 Unit Turn-External 0 1,417 5,467 2,558 2,384 2,484 1,700 1,700 1,700 1,700 1,700 24,512 20,400 -4,112 -20 Unit Turn Materials 0 1,006 0 548 0 559 480 480 480 480 480 4,993 5,760 767 13 Total Unit Turn Costs 0 4,527 6,402 3,850 4,041 5,530 3,200 3,200 3,200 3,200 3,200 43,551 38,400 -5,151 -13 Total Maintenance Expenses 11,561 15,043 19,784 18,826 11,621 18,643 12,744 14,064 12,906 12,267 12,225 175,123 165,280 -9,842 -6 Vehicle-Fuel 0 0 0 92 0 0 0 0 0 0 0 92 0 -92 N/A Total Vehicle Expenses 0 0 0 92 0 0 0 0 0 0 0 92 0 -92 N/A Insurance & Taxes Expenses HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 131 of 194151 EXHIBIT: Oak140 - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Oak 140, LLLP (oak140) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Insurance - Property 262 10,521 12,328 12,328 -8,847 5,266 6,866 6,866 6,866 6,866 6,866 73,049 82,386 9,337 11 Insurance - Liability 0 744 372 372 372 372 422 422 422 422 422 4,767 5,070 303 6 Insurance - Umbrella 0 831 416 416 416 416 422 422 422 422 422 5,023 5,058 35 1 Total Tax & Insurance Expenses 262 12,096 13,115 13,115 -8,060 6,053 7,710 7,710 7,710 7,710 7,710 82,838 92,514 9,676 10 Other General Expenses Membership and Fees 0 0 0 0 0 100 0 0 0 0 0 100 0 -100 N/A Bank Fees 0 0 0 0 0 0 0 1,022 0 0 0 1,022 1,022 0 0 Filing Fees 0 0 0 0 0 0 10 0 0 0 0 10 10 0 0 Office Supplies 73 0 0 87 188 0 100 100 100 100 100 948 1,200 252 21 Copier and Printer Usage | Supplies 315 315 315 315 319 235 393 240 320 240 399 3,727 3,667 -60 -2 Miscellaneous General Expense 0 0 0 0 0 0 0 0 474 0 0 474 948 474 50 Total Other General Expenses 388 315 315 403 507 335 504 1,362 894 340 499 6,281 6,848 566 8 Reserve Allowances Reserve Account Funding Allowance 2,095 2,095 2,095 2,095 2,095 2,095 2,095 2,095 2,095 2,095 2,095 25,140 25,140 0 0 Total Reserve Allowances 2,095 2,095 2,095 2,095 2,095 2,095 2,095 2,095 2,095 2,095 2,095 25,140 25,140 0 0 TOTAL GENERAL EXPENSES 27,205 41,624 47,516 43,341 15,328 36,127 34,280 36,459 34,832 33,640 33,757 421,000 424,520 3,520 1 TOTAL DIRECT OPERATING EXPENSES 51,337 67,197 76,136 71,003 44,180 65,100 60,211 62,432 61,895 59,971 73,735 756,055 760,725 4,670 1 TOTAL OPERATING EXPENSES 51,337 67,197 76,136 71,003 44,180 65,100 60,211 62,432 61,895 59,971 73,735 756,055 760,725 4,670 1 NET OPERATING INCOME 43,307 22,959 15,042 35,755 47,369 26,563 35,582 33,625 34,163 36,087 22,347 386,026 382,463 3,563 1 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 7,822 7,822 7,822 7,822 7,822 7,822 7,822 7,822 7,822 7,822 7,822 93,867 93,867 0 0 Interest Expense - Hard Loans 14,326 14,326 14,326 14,326 14,326 14,322 19,653 28,877 19,653 19,653 19,653 213,097 245,064 31,967 13 Interest Expense - Loan Fees 1,920 1,920 1,920 1,920 1,920 1,920 1,920 1,920 1,920 1,920 1,920 23,034 23,034 0 0 24,068 24,068 24,068 24,068 24,068 24,064 29,395 38,619 29,395 29,395 29,395 329,998 361,965 31,967 9 Depreciation - Buildings 67,768 67,768 67,768 67,768 67,768 67,768 67,940 67,940 67,940 67,940 67,940 814,250 815,285 1,035 0 Depreciation - Furn,Fix,Equip - Units 17,113 17,113 17,113 17,113 17,113 17,113 17,107 17,107 17,107 17,107 17,107 205,320 205,288 -32 0 Depreciation - Furn,Fix,Equip - Common 13,109 13,109 13,109 13,109 13,109 13,109 13,166 13,166 13,166 13,166 13,166 157,651 157,997 345 0 Depreciation - Improvements 1,006 1,006 1,006 1,006 1,006 1,006 1,006 1,006 1,006 1,006 1,006 12,069 12,069 0 0 Amortization - Tax Credit Fees 1,358 1,358 1,358 1,358 1,358 1,358 1,358 1,358 1,358 1,358 1,358 16,301 16,301 0 0 100,353 100,353 100,353 100,353 100,353 100,353 100,578 100,578 100,578 100,578 100,578 1,205,590 1,206,940 1,349 0 TOTAL NON OPERATING EXPENSES 124,421 124,421 124,421 124,421 124,421 124,417 129,974 139,197 129,974 129,974 129,973 1,535,588 1,568,905 33,316 2 PARTNERSHIP INCOME(EXPENSES) Partnership - Management Fee Expense -1,366 0 0 0 0 0 -1,326 0 0 0 1,326 -1,366 0 -1,366 N/A TOTAL PARTNERSHIP INCOME(EXPENSES)-1,366 0 0 0 0 0 -1,326 0 0 0 1,326 -1,366 0 -1,366 N/A NET NON-OPERATING INCOME(EXPENSE)-125,787 -124,421 -124,421 -124,421 -124,421 -124,417 -131,300 -139,197 -129,974 -129,974 -128,647 -1,536,954 -1,568,905 31,951 -2 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 132 of 194152 EXHIBIT: Oak140 - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Oak 140, LLLP (oak140) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is NET INCOME (LOSS)-82,480 -101,463 -109,379 -88,666 -77,052 -97,854 -95,718 -105,572 -95,811 -93,887 -106,300 -1,150,929 -1,186,442 35,513 -3 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 133 of 194153 EXHIBIT: Plum - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 843,750 858,370 -14,620 -2 802,349 41,401 5 843,750 -14,620 -2 802,349 41,401 5 1,735,674 (Loss) Gain to Lease -20,294 -30,422 10,128 33 -21,284 990 5 -20,294 10,128 33 -21,284 990 5 -67,190 Less: Vacancies -20,947 -25,752 4,805 19 -18,989 -1,958 -10 -20,947 4,805 19 -18,989 -1,958 -10 -52,070 NET POTENTIAL RENT 802,509 802,196 313 0 762,076 40,433 5 802,509 313 0 762,076 40,433 5 1,616,414 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -50 0 -50 N/A -20,891 20,841 100 -50 -50 N/A -20,891 20,841 100 0 Less: Allowance for Doubtful Accounts -36,281 -27,015 -9,266 -34 0 -36,281 N/A -36,281 -9,266 -34 0 -36,281 N/A -54,030 Pet Rent 2,120 0 2,120 N/A 1,847 273 15 2,120 2,120 N/A 1,847 273 15 0 Add: Recoveries 1,046 0 1,046 N/A 0 1,046 N/A 1,046 1,046 N/A 0 1,046 N/A 0 NET POTENTIAL RENT ADJUSTMENTS -33,165 -27,015 -6,150 -23 -19,044 -14,122 -74 -33,165 -6,150 -23 -19,044 -14,122 -74 -54,030 NET RENTAL INCOME 769,344 775,181 -5,837 -1 743,032 26,311 4 769,344 -5,837 -1 743,032 26,311 4 1,562,384 OTHER TENANT INCOME Ancillary Income 2,394 1,215 1,180 97 1,474 921 62 2,394 1,180 97 1,474 921 62 2,430 Late Charges 2,475 2,250 225 10 2,125 350 16 2,475 225 10 2,125 350 16 4,500 Legal Fees - Tenant 920 4,474 -3,554 -79 661 259 39 920 -3,554 -79 661 259 39 8,948 NSF Charges 25 38 -12 -33 0 25 N/A 25 -12 -33 0 25 N/A 75 Utility Reimb.-Tenant 1,850 1,724 126 7 1,626 225 14 1,850 126 7 1,626 225 14 3,448 Misc.Tenant Income 551 633 -83 -13 400 150 38 551 -83 -13 400 150 38 1,266 Tenant Work Orders 24,006 21,386 2,619 12 23,382 624 3 24,006 2,619 12 23,382 624 3 42,773 TOTAL OTHER TENANT INCOME 32,221 31,720 501 2 29,668 2,553 9 32,221 501 2 29,668 2,553 9 63,439 EFFECTIVE GROSS INCOME 801,564 806,901 -5,336 -1 772,700 28,864 4 801,564 -5,336 -1 772,700 28,864 4 1,625,823 OTHER INCOME Miscellaneous Income 0 0 0 N/A 211 -211 -100 0 0 N/A 211 -211 -100 0 Interest Income - Unrestricted 8,542 11,585 -3,043 -26 11,884 -3,342 -28 8,542 -3,043 -26 11,884 -3,342 -28 23,170 TOTAL OTHER INCOME 8,542 11,585 -3,043 -26 12,095 -3,553 -29 8,542 -3,043 -26 12,095 -3,553 -29 23,170 TOTAL OPERATING REVENUE 810,106 818,486 -8,379 -1 784,795 25,311 3 810,106 -8,379 -1 784,795 25,311 3 1,648,993 Village on Plum, LLLP - All (.vopttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 134 of 194154 EXHIBIT: Plum - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Plum, LLLP - All (.vopttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 68,167 65,857 -2,310 -4 70,890 2,723 4 68,167 -2,310 -4 70,890 2,723 4 131,714 Total Labor Expenses 68,167 65,857 -2,310 -4 70,890 2,723 4 68,167 -2,310 -4 70,890 2,723 4 131,714 Legal Expense Legal-Criminal Background Checks 1,318 0 -1,318 N/A 0 -1,318 N/A 1,318 -1,318 N/A 0 -1,318 N/A 0 Legal-Tenant Screening 0 610 610 100 0 0 N/A 0 610 100 0 0 N/A 2,833 Legal-General Expense 4,418 849 -3,569 -420 881 -3,537 -401 4,418 -3,569 -420 881 -3,537 -401 1,698 Total Legal Expense 5,736 1,459 -4,277 -293 881 -4,855 -551 5,736 -4,277 -293 881 -4,855 -551 4,532 Management Related Expense Property Management Expense 66,775 64,657 -2,119 -3 61,114 -5,661 -9 66,775 -2,119 -3 61,114 -5,661 -9 129,313 Accounting/Bookkeeping Expense 25,041 24,246 -795 -3 22,918 -2,123 -9 25,041 -795 -3 22,918 -2,123 -9 48,492 Total Management Related Expenses 91,816 88,903 -2,913 -3 84,032 -7,785 -9 91,816 -2,913 -3 84,032 -7,785 -9 177,806 Other Administrative Expenses Staff Training & Conferences 5 0 -5 N/A 0 -5 N/A 5 -5 N/A 0 -5 N/A 0 Mileage 65 0 -65 N/A 0 -65 N/A 65 -65 N/A 0 -65 N/A 0 Auditing & Tax Services 5,576 5,148 -428 -8 5,050 -525 -10 5,576 -428 -8 5,050 -525 -10 10,296 Tax Credit Monitoring 0 1,717 1,717 100 1,680 1,680 100 0 1,717 100 1,680 1,680 100 8,384 Marketing 0 50 50 100 0 0 N/A 0 50 100 0 0 N/A 100 Resident Relocation 0 3,318 3,318 100 3,085 3,085 100 0 3,318 100 3,085 3,085 100 6,635 Consultants 0 0 0 N/A 35 35 100 0 0 N/A 35 35 100 0 Security Services 1,049 11,711 10,662 91 847 -202 -24 1,049 10,662 91 847 -202 -24 23,422 Miscellaneous Admin Expenses 396 0 -396 N/A 75 -321 -428 396 -396 N/A 75 -321 -428 0 Total Other Administrative Expenses 7,091 21,944 14,853 68 10,772 3,681 34 7,091 14,853 68 10,772 3,681 34 48,838 Technology Expenses Managed Services - Internal 6,864 6,867 3 0 7,476 612 8 6,864 3 0 7,476 612 8 13,734 Cable Services 0 0 0 N/A 1,368 1,368 100 0 0 N/A 1,368 1,368 100 0 Telephone - Landline|Virtual 187 0 -187 N/A 125 -61 -49 187 -187 N/A 125 -61 -49 0 Internet Services 1,550 12,825 11,275 88 164 -1,386 -848 1,550 11,275 88 164 -1,386 -848 25,650 Total Technology Expenses 8,600 19,692 11,091 56 9,133 532 6 8,600 11,091 56 9,133 532 6 39,384 Compliance Expenses Compliance Services - Internal 4,668 4,670 2 0 11,046 6,378 58 4,668 2 0 11,046 6,378 58 9,341 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 135 of 194155 EXHIBIT: Plum - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Plum, LLLP - All (.vopttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Compliance Services - Consultants 525 2,168 1,642 76 665 140 21 525 1,642 76 665 140 21 4,335 Total Compliance Expenses 5,193 6,838 1,645 24 11,711 6,518 56 5,193 1,645 24 11,711 6,518 56 13,676 TOTAL ADMINISTRATIVE EXPENSES 186,604 204,692 18,088 9 187,419 815 0 186,604 18,088 9 187,419 815 0 415,948 GENERAL EXPENSES Resident Services Resident Services - Internal 26,124 26,125 1 0 48,690 22,566 46 26,124 1 0 48,690 22,566 46 52,250 Resident Services - External 380 0 -380 N/A 0 -380 N/A 380 -380 N/A 0 -380 N/A 0 Total Resident Services 26,504 26,125 -379 -1 48,690 22,186 46 26,504 -379 -1 48,690 22,186 46 52,250 Utilities Expense Water 20,112 18,964 -1,147 -6 20,921 809 4 20,112 -1,147 -6 20,921 809 4 37,928 Electricity 5,990 8,315 2,325 28 9,357 3,367 36 5,990 2,325 28 9,357 3,367 36 16,630 Electricity-Vacant Units 1,357 252 -1,105 -439 209 -1,148 -549 1,357 -1,105 -439 209 -1,148 -549 503 Gas 16,422 19,216 2,794 15 20,515 4,093 20 16,422 2,794 15 20,515 4,093 20 38,432 Trash Removal Services 5,994 7,405 1,411 19 7,032 1,038 15 5,994 1,411 19 7,032 1,038 15 14,810 Total Utility Expenses 49,875 54,152 4,277 8 58,034 8,159 14 49,875 4,277 8 58,034 8,159 14 108,304 Maintenance Expenses Maintenance - On Call 79 0 -79 N/A 0 -79 N/A 79 -79 N/A 0 -79 N/A 0 Total General Maint Expense 79 0 -79 N/A 0 -79 N/A 79 -79 N/A 0 -79 N/A 0 Supplies-Grounds 2,605 960 -1,645 -171 1,124 -1,480 -132 2,605 -1,645 -171 1,124 -1,480 -132 1,920 Supplies-Appliances 1,111 1,100 -11 -1 1,299 188 14 1,111 -11 -1 1,299 188 14 2,201 Supplies-Electrical 4,837 1,811 -3,026 -167 2,005 -2,832 -141 4,837 -3,026 -167 2,005 -2,832 -141 3,622 Supplies-Pest Control 43 0 -43 N/A 0 -43 N/A 43 -43 N/A 0 -43 N/A 0 Supplies-Janitorial 326 282 -44 -16 473 147 31 326 -44 -16 473 147 31 564 Supplies-General 466 450 -15 -3 368 -98 -27 466 -15 -3 368 -98 -27 901 Supplies-Plumbing 1,447 2,149 702 33 1,900 453 24 1,447 702 33 1,900 453 24 4,298 Supplies-Paint 69 0 -69 N/A 2,026 1,957 97 69 -69 N/A 2,026 1,957 97 0 Supplies-HVAC 91 217 127 58 305 214 70 91 127 58 305 214 70 435 Supplies-Doors 3,532 1,500 -2,033 -136 1,369 -2,163 -158 3,532 -2,033 -136 1,369 -2,163 -158 2,999 Supplies-Windows 78 579 500 86 607 528 87 78 500 86 607 528 87 1,157 Total Supplies | Materials 14,606 9,048 -5,558 -61 11,475 -3,130 -27 14,606 -5,558 -61 11,475 -3,130 -27 18,096 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 136 of 194156 EXHIBIT: Plum - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Plum, LLLP - All (.vopttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Contract-Work Orders - Internal 35,451 23,429 -12,022 -51 32,908 -2,543 -8 35,451 -12,022 -51 32,908 -2,543 -8 46,859 Contract-Preventative - Internal 11,850 11,850 0 0 25,752 13,902 54 11,850 0 0 25,752 13,902 54 23,700 Contract-System Services 2,057 1,623 -434 -27 3,089 1,032 33 2,057 -434 -27 3,089 1,032 33 3,246 Contract-Appliance 98 274 176 64 268 170 64 98 176 64 268 170 64 454 Contract-Carpet Cleaning 0 450 450 100 550 550 100 0 450 100 550 550 100 736 Contract-Electrical 793 1,279 486 38 805 12 2 793 486 38 805 12 2 2,558 Contract-Pest Control 5,615 2,020 -3,595 -178 2,361 -3,254 -138 5,615 -3,595 -178 2,361 -3,254 -138 4,040 Contract-Flooring 0 230 230 100 225 225 100 0 230 100 225 225 100 460 Contract-Grounds 21,935 20,866 -1,069 -5 19,445 -2,490 -13 21,935 -1,069 -5 19,445 -2,490 -13 41,733 Contract-Janitorial 2,240 1,920 -320 -17 1,920 -320 -17 2,240 -320 -17 1,920 -320 -17 3,840 Contract-Plumbing 4,173 7,834 3,661 47 7,835 3,662 47 4,173 3,661 47 7,835 3,662 47 15,668 Contract-HVAC 0 244 244 100 239 239 100 0 244 100 239 239 100 244 Contract-Windows 731 182 -549 -301 178 -553 -310 731 -549 -301 178 -553 -310 364 Contract-General 9,001 12,673 3,672 29 8,999 -2 0 9,001 3,672 29 8,999 -2 0 18,684 Total Contract Costs 93,943 84,875 -9,068 -11 104,574 10,631 10 93,943 -9,068 -11 104,574 10,631 10 162,586 Total Maintenance Expenses - Core 108,628 93,923 -14,705 -16 116,049 7,421 6 108,628 -14,705 -16 116,049 7,421 6 180,682 Unit Turn-Work Order 10,752 9,180 -1,572 -17 11,644 891 8 10,752 -1,572 -17 11,644 891 8 18,360 Unit Turn-External 16,417 15,300 -1,117 -7 20,974 4,557 22 16,417 -1,117 -7 20,974 4,557 22 30,600 Unit Turn Materials 4,727 4,320 -407 -9 0 -4,727 N/A 4,727 -407 -9 0 -4,727 N/A 8,640 Total Unit Turn Costs 31,897 28,800 -3,097 -11 32,617 721 2 31,897 -3,097 -11 32,617 721 2 57,600 Total Maintenance Expenses 140,525 122,723 -17,802 -15 148,666 8,142 5 140,525 -17,802 -15 148,666 8,142 5 238,282 DNU-Facility Costs DNU-Total Facility Costs 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 0 Insurance & Taxes Expenses Insurance - Property 39,405 29,361 -10,044 -34 46,777 7,372 16 39,405 -10,044 -34 46,777 7,372 16 58,722 Insurance - Liability 2,254 2,940 686 23 0 -2,254 N/A 2,254 686 23 0 -2,254 N/A 5,880 Insurance - Umbrella 3,534 4,028 494 12 0 -3,534 N/A 3,534 494 12 0 -3,534 N/A 8,055 Total Tax & Insurance Expenses 45,193 36,328 -8,865 -24 46,777 1,584 3 45,193 -8,865 -24 46,777 1,584 3 72,657 Other General Expenses Membership and Fees 200 205 4 2 200 0 0 200 4 2 200 0 0 205 Filing Fees 50 20 -30 -145 20 -30 -150 50 -30 -145 20 -30 -150 20 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 137 of 194157 EXHIBIT: Plum - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Plum, LLLP - All (.vopttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Office Supplies 298 150 -148 -99 24 -274 -1,141 298 -148 -99 24 -274 -1,141 300 Miscellaneous General Expense 0 1,140 1,140 100 0 0 N/A 0 1,140 100 0 0 N/A 2,280 Facilities Rent 3,646 3,346 -300 -9 3,646 0 0 3,646 -300 -9 3,646 0 0 5,932 Total Other General Expenses 4,194 4,861 667 14 3,890 -304 -8 4,194 667 14 3,890 -304 -8 8,737 Reserve Allowances Reserve Account Funding Allowance 24,792 24,792 0 0 24,066 -726 -3 24,792 0 0 24,066 -726 -3 49,584 Total Reserve Allowances 24,792 24,792 0 0 24,066 -726 -3 24,792 0 0 24,066 -726 -3 49,584 TOTAL GENERAL EXPENSES 291,083 268,982 -22,102 -8 330,124 39,041 12 291,083 -22,102 -8 330,124 39,041 12 529,814 TOTAL DIRECT OPERATING EXPENSES 477,687 473,674 -4,013 -1 517,543 39,856 8 477,687 -4,013 -1 517,543 39,856 8 945,762 TOTAL OPERATING EXPENSES 477,687 473,674 -4,013 -1 517,543 39,856 8 477,687 -4,013 -1 517,543 39,856 8 945,762 NET OPERATING INCOME 332,419 344,812 -12,393 -4 267,253 65,167 24 332,419 -12,393 -4 267,253 65,167 24 703,232 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 71,019 71,019 0 0 71,213 195 0 71,019 0 0 71,213 195 0 142,038 Interest Expense - Hard Loans 97,613 96,473 -1,141 -1 100,464 2,851 3 97,613 -1,141 -1 100,464 2,851 3 191,465 Interest Expense - Other 11,386 0 -11,386 N/A 11,417 31 0 11,386 -11,386 N/A 11,417 31 0 0 Interest Expense - Loan Fees 7,656 7,656 0 0 7,656 0 0 7,656 0 0 7,656 0 0 15,311 187,674 175,147 -12,527 -7 190,750 3,077 2 187,674 -12,527 -7 190,750 3,077 2 348,814 Depreciation - Buildings 237,838 237,838 0 0 237,838 0 0 237,838 0 0 237,838 0 0 475,675 Depreciation - Furn,Fix,Equip - Units 19,960 14,547 -5,413 -37 12,237 -7,723 -63 19,960 -5,413 -37 12,237 -7,723 -63 29,094 Depreciation - Improvements 47,383 49,528 2,145 4 47,383 0 0 47,383 2,145 4 47,383 0 0 99,056 Amortization - Tax Credit Fees 1,960 1,960 0 0 1,960 0 0 1,960 0 0 1,960 0 0 3,920 307,140 303,872 -3,268 -1 299,418 -7,723 -3 307,140 -3,268 -1 299,418 -7,723 -3 607,745 TOTAL NON OPERATING EXPENSES 494,814 479,019 -15,795 -3 490,168 -4,646 -1 494,814 -15,795 -3 490,168 -4,646 -1 956,558 NET NON-OPERATING INCOME(EXPENSE)-494,814 -479,019 -15,795 -3 -490,168 -4,646 -1 -494,814 -15,795 -3 -490,168 -4,646 -1 -956,558 NET INCOME (LOSS)-162,395 -134,207 -28,187 -21 -222,915 60,521 27 -162,395 -28,187 -21 -222,915 60,521 27 -253,327 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 138 of 194158 EXHIBIT: Plum - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 140,625 140,625 140,625 140,625 140,625 140,625 145,410 145,410 145,410 147,832 147,832 1,721,054 1,735,674 -14,620 -1 (Loss) Gain to Lease -4,154 -3,745 -3,832 -3,265 -2,822 -2,476 -6,408 -6,072 -6,072 -6,072 -6,072 -57,062 -67,190 10,128 -15 Less: Vacancies -310 -1,138 -4,493 -6,279 -4,181 -4,546 -4,362 -4,362 -4,362 -4,435 -4,435 -47,265 -52,070 4,805 -9 NET POTENTIAL RENT 136,161 135,742 132,300 131,081 133,622 133,603 134,640 134,976 134,976 137,325 137,325 1,616,727 1,616,414 313 0 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -25 0 0 -25 0 0 0 0 0 0 0 -50 0 -50 N/A Less: Allowance for Doubtful Accounts -6,047 -6,047 -6,047 -6,047 -6,047 -6,047 -4,502 -4,502 -4,502 -4,502 -4,502 -63,296 -54,030 -9,266 17 Pet Rent 360 325 325 341 384 385 0 0 0 0 0 2,120 0 2,120 N/A Add: Recoveries 1,046 0 0 0 0 0 0 0 0 0 0 1,046 0 1,046 N/A NET POTENTIAL RENT ADJUSTMENTS -4,666 -5,722 -5,722 -5,731 -5,663 -5,662 -4,502 -4,502 -4,502 -4,502 -4,502 -60,180 -54,030 -6,150 11 NET RENTAL INCOME 131,495 130,020 126,578 125,350 127,959 127,941 130,138 130,474 130,474 132,822 132,822 1,556,547 1,562,384 -5,837 0 OTHER TENANT INCOME Ancillary Income 0 0 944 813 0 637 202 202 202 202 202 3,609 2,430 1,180 49 Late Charges 525 400 425 375 375 375 375 375 375 375 375 4,725 4,500 225 5 Legal Fees - Tenant 0 48 809 63 0 0 746 746 746 746 746 5,394 8,948 -3,554 -40 NSF Charges 0 0 25 0 25 -25 6 6 6 6 6 62 75 -12 -17 Utility Reimb.-Tenant 123 869 102 276 480 0 287 287 287 287 287 3,574 3,448 126 4 Misc.Tenant Income 76 150 50 75 150 50 106 106 106 106 106 1,184 1,266 -83 -7 Tenant Work Orders 2,931 1,205 0 3,861 15,703 305 3,564 3,564 3,564 3,564 3,564 45,392 42,773 2,619 6 TOTAL OTHER TENANT INCOME 3,654 2,672 2,355 5,464 16,734 1,342 5,287 5,287 5,287 5,287 5,287 63,940 63,439 501 1 EFFECTIVE GROSS INCOME 135,149 132,693 128,933 130,814 144,693 129,283 135,424 135,760 135,760 138,109 138,109 1,620,487 1,625,823 -5,336 0 OTHER INCOME Interest Income - Unrestricted 1,522 1,389 1,553 1,455 1,286 1,337 1,931 1,931 1,931 1,931 1,931 20,127 23,170 -3,043 -13 TOTAL OTHER INCOME 1,522 1,389 1,553 1,455 1,286 1,337 1,931 1,931 1,931 1,931 1,931 20,127 23,170 -3,043 -13 TOTAL OPERATING REVENUE 136,671 134,082 130,486 132,269 145,978 130,620 137,355 137,691 137,691 140,040 140,040 1,640,614 1,648,993 -8,379 -1 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 10,976 10,976 11,554 11,554 11,554 11,554 10,976 10,976 10,976 10,976 10,976 134,024 131,714 -2,310 -2 Total Labor Expenses 10,976 10,976 11,554 11,554 11,554 11,554 10,976 10,976 10,976 10,976 10,976 134,024 131,714 -2,310 -2 Legal Expense Legal-Criminal Background Checks 0 134 302 204 192 486 0 0 0 0 0 1,318 0 -1,318 N/A 12 Month Actual to Budget Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 139 of 194159 EXHIBIT: Plum - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Plum, LLLP - All (.vopttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Legal-Tenant Screening 0 0 0 0 0 0 1,136 323 517 0 35 2,223 2,833 610 22 Legal-General Expense 678 1,943 63 615 13 1,107 142 142 142 142 142 5,267 1,698 -3,569 -210 Total Legal Expense 678 2,077 365 819 204 1,593 1,278 464 659 142 177 8,809 4,532 -4,277 -94 Management Related Expense Property Management Expense 10,918 11,375 11,040 11,074 11,225 11,142 10,776 10,776 10,776 10,776 10,776 131,432 129,313 -2,119 -2 Accounting/Bookkeeping Expense 4,094 4,266 4,140 4,153 4,209 4,178 4,041 4,041 4,041 4,041 4,041 49,287 48,492 -795 -2 Total Management Related Expenses 15,013 15,641 15,181 15,226 15,435 15,321 14,817 14,817 14,817 14,817 14,817 180,719 177,806 -2,913 -2 Other Administrative Expenses Staff Training & Conferences 0 0 5 0 0 0 0 0 0 0 0 5 0 -5 N/A Mileage 0 0 0 65 0 0 0 0 0 0 0 65 0 -65 N/A Auditing & Tax Services 88 438 1,759 1,538 877 877 858 858 858 858 858 10,724 10,296 -428 -4 Tax Credit Monitoring 0 0 0 0 0 0 0 0 0 0 6,667 6,667 8,384 1,717 20 Marketing 0 0 0 0 0 0 8 8 8 8 8 50 100 50 50 Resident Relocation 0 0 0 0 0 0 553 553 553 553 553 3,318 6,635 3,318 50 Security Services 0 112 345 240 352 0 1,952 1,952 1,952 1,952 1,952 12,760 23,422 10,662 46 Miscellaneous Admin Expenses 79 193 79 28 0 18 0 0 0 0 0 396 0 -396 N/A Total Other Administrative Expenses 166 742 2,188 1,871 1,229 894 3,371 3,371 3,371 3,371 10,039 33,985 48,838 14,853 30 Technology Expenses Managed Services - Internal 1,144 1,144 1,144 1,144 1,144 1,144 1,144 1,144 1,144 1,144 1,144 13,731 13,734 3 0 Telephone - Landline|Virtual 0 0 0 0 101 86 0 0 0 0 0 187 0 -187 N/A Internet Services 295 296 291 301 191 176 2,138 2,138 2,138 2,138 2,138 14,375 25,650 11,275 44 Total Technology Expenses 1,439 1,440 1,435 1,445 1,436 1,405 3,282 3,282 3,282 3,282 3,282 28,292 39,384 11,091 28 Compliance Expenses Compliance Services - Internal 778 778 778 778 778 778 778 778 778 778 778 9,338 9,341 2 0 Compliance Services - Consultants 35 105 175 35 175 0 361 361 361 361 361 2,692 4,335 1,642 38 Total Compliance Expenses 813 883 953 813 953 778 1,140 1,140 1,140 1,140 1,140 12,031 13,676 1,645 12 TOTAL ADMINISTRATIVE EXPENSES 29,085 31,759 31,676 31,728 30,811 31,545 34,864 34,050 34,245 33,728 40,430 397,860 415,948 18,088 4 GENERAL EXPENSES Resident Services Resident Services - Internal 4,354 4,354 4,354 4,354 4,354 4,354 4,354 4,354 4,354 4,354 4,354 52,249 52,250 1 0 Resident Services - External 190 190 0 0 0 0 0 0 0 0 0 380 0 -380 N/A Total Resident Services 4,544 4,544 4,354 4,354 4,354 4,354 4,354 4,354 4,354 4,354 4,354 52,629 52,250 -379 -1 Utilities Expense Water 3,233 3,180 3,184 3,121 0 7,393 3,161 3,161 3,161 3,161 3,161 39,076 37,928 -1,147 -3 Electricity 1,279 1,138 1,813 567 133 1,059 1,386 1,386 1,386 1,386 1,386 14,305 16,630 2,325 14 Electricity-Vacant Units 157 820 0 379 0 0 42 42 42 42 42 1,608 503 -1,105 -220 Gas 814 3,984 6,376 1,983 555 2,711 3,203 3,203 3,203 3,203 3,203 35,638 38,432 2,794 7 Trash Removal Services 880 880 1,720 43 885 1,587 1,234 1,234 1,234 1,234 1,234 13,399 14,810 1,411 10 Total Utility Expenses 6,363 10,004 13,093 6,094 1,572 12,750 9,025 9,025 9,025 9,025 9,025 104,027 108,304 4,277 4 Maintenance Expenses HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 140 of 194160 EXHIBIT: Plum - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Plum, LLLP - All (.vopttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Maintenance - On Call 0 0 0 40 0 40 0 0 0 0 0 79 0 -79 N/A Total General Maint Expense 0 0 0 40 0 40 0 0 0 0 0 79 0 -79 N/A Supplies-Grounds 55 384 188 470 642 866 160 160 160 160 160 3,565 1,920 -1,645 -86 Supplies-Appliances 279 0 199 53 289 291 183 183 183 183 183 2,212 2,201 -11 0 Supplies-Electrical 238 0 0 926 2,915 757 302 302 302 302 302 6,648 3,622 -3,026 -84 Supplies-Pest Control 9 0 17 17 0 0 0 0 0 0 0 43 0 -43 N/A Supplies-Janitorial 126 61 15 61 15 46 47 47 47 47 47 608 564 -44 -8 Supplies-General 0 16 0 2 259 189 75 75 75 75 75 916 901 -15 -2 Supplies-Plumbing 216 54 91 57 652 377 358 358 358 358 358 3,596 4,298 702 16 Supplies-Paint 0 0 0 0 10 59 0 0 0 0 0 69 0 -69 N/A Supplies-HVAC 0 51 39 0 0 0 36 36 36 36 36 308 435 127 29 Supplies-Doors 216 638 161 192 1,795 530 250 250 250 250 250 5,032 2,999 -2,033 -68 Supplies-Windows 0 0 0 0 0 78 96 96 96 96 96 657 1,157 500 43 Total Supplies | Materials 1,139 1,205 710 1,779 6,579 3,194 1,508 1,508 1,508 1,508 1,508 23,653 18,096 -5,558 -31 Contract-Work Orders - Internal 5,376 2,680 1,445 8,568 10,328 7,055 3,905 3,905 3,905 3,905 3,905 58,880 46,859 -12,022 -26 Contract-Preventative - Internal 1,975 1,975 1,975 1,975 1,975 1,975 1,975 1,975 1,975 1,975 1,975 23,700 23,700 0 0 Contract-System Services 0 0 0 1,806 0 251 270 270 270 270 270 3,680 3,246 -434 -13 Contract-Appliance 0 98 0 0 0 0 0 0 90 0 90 278 454 176 39 Contract-Carpet Cleaning 0 0 0 0 0 0 0 0 0 143 0 286 736 450 61 Contract-Electrical 0 550 0 0 243 0 213 213 213 213 213 2,072 2,558 486 19 Contract-Pest Control 1,910 520 110 1,376 1,499 200 570 220 570 220 220 7,635 4,040 -3,595 -89 Contract-Flooring 0 0 0 0 0 0 0 0 0 0 0 230 460 230 50 Contract-Grounds 6,914 4,108 5,634 1,632 1,864 1,784 3,478 3,478 3,478 3,478 3,478 42,801 41,733 -1,069 -3 Contract-Janitorial 320 320 960 0 320 320 320 320 320 320 320 4,160 3,840 -320 -8 Contract-Plumbing 666 145 255 1,526 559 1,022 1,306 1,306 1,306 1,306 1,306 12,007 15,668 3,661 23 Contract-HVAC 0 0 0 0 0 0 0 0 0 0 0 0 244 244 100 Contract-Windows 0 366 0 0 0 365 0 0 0 0 0 913 364 -549 -151 Contract-General 3,440 3,415 467 565 877 236 1,565 0 152 1,267 1,109 15,012 18,684 3,672 20 Total Contract Costs 20,601 14,176 10,846 17,448 17,665 13,209 13,602 11,687 12,279 13,097 12,886 171,655 162,586 -9,068 -6 Total Maintenance Expenses - Core 21,740 15,381 11,556 19,266 24,243 16,442 15,110 13,195 13,787 14,605 14,394 195,387 180,682 -14,705 -8 Unit Turn-Work Order 871 0 2,784 3,910 808 2,380 1,530 1,530 1,530 1,530 1,530 19,932 18,360 -1,572 -9 Unit Turn-External 2,282 0 1,388 11,081 300 1,365 2,550 2,550 2,550 2,550 2,550 31,717 30,600 -1,117 -4 Unit Turn Materials 127 123 766 2,828 128 755 720 720 720 720 720 9,047 8,640 -407 -5 Total Unit Turn Costs 3,281 123 4,938 17,819 1,236 4,500 4,800 4,800 4,800 4,800 4,800 60,697 57,600 -3,097 -5 Total Maintenance Expenses 25,021 15,503 16,494 37,086 25,479 20,942 19,910 17,995 18,587 19,405 19,194 256,084 238,282 -17,802 -7 Insurance & Taxes Expenses Insurance - Property 8,458 8,458 8,664 8,458 -1,200 6,568 4,894 4,894 4,894 4,894 4,894 68,766 58,722 -10,044 -17 Insurance - Liability 376 376 376 376 376 376 490 490 490 490 490 5,194 5,880 686 12 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 141 of 194161 EXHIBIT: Plum - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Plum, LLLP - All (.vopttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Insurance - Umbrella 589 589 589 589 589 589 671 671 671 671 671 7,561 8,055 494 6 Total Tax & Insurance Expenses 9,423 9,423 9,629 9,423 -235 7,532 6,055 6,055 6,055 6,055 6,055 81,522 72,657 -8,865 -12 Other General Expenses Membership and Fees 0 0 0 0 200 0 0 0 0 0 0 200 205 4 2 Filing Fees 50 0 0 0 0 0 0 0 0 0 0 50 20 -30 -145 Office Supplies 0 116 0 113 69 0 25 25 25 25 25 448 300 -148 -49 Miscellaneous General Expense 0 0 0 0 0 0 190 190 190 190 190 1,140 2,280 1,140 50 Facilities Rent 608 608 608 608 608 608 431 431 431 431 431 6,232 5,932 -300 -5 Total Other General Expenses 658 724 608 721 877 608 646 646 646 646 646 8,070 8,737 667 8 Reserve Allowances Reserve Account Funding Allowance 4,132 4,132 4,132 4,132 4,132 4,132 4,132 4,132 4,132 4,132 4,132 49,584 49,584 0 0 Total Reserve Allowances 4,132 4,132 4,132 4,132 4,132 4,132 4,132 4,132 4,132 4,132 4,132 49,584 49,584 0 0 TOTAL GENERAL EXPENSES 50,140 44,329 48,309 61,809 36,179 50,318 44,122 42,207 42,799 43,617 43,406 551,915 529,814 -22,102 -4 TOTAL DIRECT OPERATING EXPENSES 79,225 76,088 79,985 93,537 66,990 81,863 78,986 76,258 77,044 77,345 83,836 949,775 945,762 -4,013 0 TOTAL OPERATING EXPENSES 79,225 76,088 79,985 93,537 66,990 81,863 78,986 76,258 77,044 77,345 83,836 949,775 945,762 -4,013 0 NET OPERATING INCOME 57,447 57,994 50,501 38,732 78,989 48,757 58,369 61,433 60,647 62,695 56,204 690,839 703,232 -12,393 -2 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 11,836 11,836 11,836 11,836 11,836 11,836 11,836 11,836 11,836 11,836 11,836 142,038 142,038 0 0 Interest Expense - Hard Loans 16,729 16,689 15,038 16,603 17,097 15,458 15,936 15,894 15,811 15,770 15,728 192,606 191,465 -1,141 -1 Interest Expense - Other 1,898 1,898 1,898 1,898 1,898 1,898 0 0 0 0 0 11,386 0 -11,386 N/A Interest Expense - Loan Fees 1,276 1,276 1,276 1,276 1,276 1,276 1,276 1,276 1,276 1,276 1,276 15,311 15,311 0 0 31,739 31,699 30,048 31,613 32,107 30,468 29,048 29,007 28,924 28,882 28,840 361,341 348,814 -12,527 -4 Depreciation - Buildings 39,640 39,640 39,640 39,640 39,640 39,640 39,640 39,640 39,640 39,640 39,640 475,675 475,675 0 0 Depreciation - Furn,Fix,Equip - Units 3,327 3,327 3,327 3,327 3,327 3,327 2,424 2,424 2,424 2,424 2,425 34,506 29,094 -5,413 -19 Depreciation - Improvements 7,897 7,897 7,897 7,897 7,897 7,897 8,255 8,255 8,255 8,255 8,255 96,911 99,056 2,145 2 Amortization - Tax Credit Fees 327 327 327 327 327 327 327 327 327 327 327 3,920 3,920 0 0 51,190 51,190 51,190 51,190 51,190 51,190 50,645 50,645 50,645 50,645 50,645 611,013 607,745 -3,268 -1 TOTAL NON OPERATING EXPENSES 82,929 82,889 81,238 82,803 83,297 81,658 79,693 79,652 79,569 79,528 79,486 972,353 956,558 -15,795 -2 NET NON-OPERATING INCOME(EXPENSE)-82,929 -82,889 -81,238 -82,803 -83,297 -81,658 -79,693 -79,652 -79,569 -79,528 -79,486 -972,353 -956,558 -15,795 2 NET INCOME (LOSS)-25,482 -24,895 -30,737 -44,071 -4,308 -32,901 -21,324 -18,219 -18,922 -16,832 -23,282 -281,514 -253,327 -28,187 11 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 142 of 194162 EXHIBIT: Redtail - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 520,809 533,344 -12,535 -2 427,741 93,068 22 520,809 -12,535 -2 427,741 93,068 22 1,076,386 (Loss) Gain to Lease -13,686 12,937 -26,623 -206 43,224 -56,910 -132 -13,686 -26,623 -206 43,224 -56,910 -132 23,930 Less: Vacancies -3,377 -5,333 1,956 37 -1,081 -2,296 -212 -3,377 1,956 37 -1,081 -2,296 -212 -10,763 Less: Concessions 0 0 0 N/A -1 1 100 0 0 N/A -1 1 100 0 NET POTENTIAL RENT 503,746 540,948 -37,202 -7 469,883 33,863 7 503,746 -37,202 -7 469,883 33,863 7 1,089,553 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -450 0 -450 N/A 0 -450 N/A -450 -450 N/A 0 -450 N/A 0 Less: Allowance for Doubtful Accounts -14,062 -13,516 -546 -4 0 -14,062 N/A -14,062 -546 -4 0 -14,062 N/A -27,032 NET POTENTIAL RENT ADJUSTMENTS -14,512 -13,516 -996 -7 0 -14,512 N/A -14,512 -996 -7 0 -14,512 N/A -27,032 NET RENTAL INCOME 489,234 527,432 -38,198 -7 469,883 19,351 4 489,234 -38,198 -7 469,883 19,351 4 1,062,521 OTHER TENANT INCOME Damages 10,374 4,303 6,072 141 6,187 4,187 68 10,374 6,072 141 6,187 4,187 68 8,605 Late Charges 1,425 1,538 -112 -7 -250 1,675 670 1,425 -112 -7 -250 1,675 670 3,075 Legal Fees - Tenant 2,521 4,694 -2,173 -46 4,340 -1,819 -42 2,521 -2,173 -46 4,340 -1,819 -42 9,388 Tenant Work Orders 3,208 2,317 891 38 3,910 -702 -18 3,208 891 38 3,910 -702 -18 4,634 TOTAL OTHER TENANT INCOME 17,528 12,851 4,677 36 14,187 3,341 24 17,528 4,677 36 14,187 3,341 24 25,703 EFFECTIVE GROSS INCOME 506,762 540,283 -33,521 -6 484,070 22,692 5 506,762 -33,521 -6 484,070 22,692 5 1,088,224 GRANT REVENUE Grants - HUD CoC 140,632 192,217 -51,585 -27 0 140,632 N/A 140,632 -51,585 -27 0 140,632 N/A 389,093 TOTAL GRANT REVENUE 140,632 192,217 -51,585 -27 0 140,632 N/A 140,632 -51,585 -27 0 140,632 N/A 389,093 OTHER INCOME Miscellaneous Income 5,693 5,895 -202 -3 5,627 66 1 5,693 -202 -3 5,627 66 1 11,790 Interest Income - Unrestricted 432 802 -370 -46 766 -333 -44 432 -370 -46 766 -333 -44 1,605 TOTAL OTHER INCOME 6,126 6,697 -572 -9 6,393 -268 -4 6,126 -572 -9 6,393 -268 -4 13,394 TOTAL OPERATING REVENUE 653,520 739,197 -85,677 -12 490,463 163,057 33 653,520 -85,677 -12 490,463 163,057 33 1,490,711 Redtail Ponds PSH, LLLP (redtail) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 143 of 194163 EXHIBIT: Redtail - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Redtail Ponds PSH, LLLP (redtail) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 69,324 69,323 -1 0 65,946 -3,378 -5 69,324 -1 0 65,946 -3,378 -5 138,646 Total Labor Expenses 69,324 69,323 -1 0 65,946 -3,378 -5 69,324 -1 0 65,946 -3,378 -5 138,646 Legal Expense Legal-Criminal Background Checks 176 0 -176 N/A 0 -176 N/A 176 -176 N/A 0 -176 N/A 0 Legal-Tenant Screening 0 765 765 100 0 0 N/A 0 765 100 0 0 N/A 1,530 Legal-General Expense 2,129 1,264 -865 -68 6,577 4,448 68 2,129 -865 -68 6,577 4,448 68 2,528 Total Legal Expense 2,305 2,029 -277 -14 6,577 4,271 65 2,305 -277 -14 6,577 4,271 65 4,058 Management Related Expense Property Management Expense 41,234 44,354 3,119 7 37,591 -3,644 -10 41,234 3,119 7 37,591 -3,644 -10 89,327 Accounting/Bookkeeping Expense 15,463 16,633 1,170 7 14,096 -1,366 -10 15,463 1,170 7 14,096 -1,366 -10 33,498 Total Management Related Expenses 56,697 60,986 4,289 7 51,687 -5,010 -10 56,697 4,289 7 51,687 -5,010 -10 122,824 Other Administrative Expenses Staff Training & Conferences 0 375 375 100 1,519 1,519 100 0 375 100 1,519 1,519 100 750 Travel, Lodging & Per Diems 12 0 -12 N/A 0 -12 N/A 12 -12 N/A 0 -12 N/A 0 Mileage 53 0 -53 N/A 0 -53 N/A 53 -53 N/A 0 -53 N/A 0 Auditing & Tax Services 5,258 5,148 -110 -2 4,905 -352 -7 5,258 -110 -2 4,905 -352 -7 10,296 Tax Credit Monitoring 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 5,621 Marketing 0 50 50 100 0 0 N/A 0 50 100 0 0 N/A 100 Resident Relocation 290 0 -290 N/A 0 -290 N/A 290 -290 N/A 0 -290 N/A 0 Security Services 53,612 59,000 5,388 9 0 -53,612 N/A 53,612 5,388 9 0 -53,612 N/A 118,000 Miscellaneous Admin Expenses 478 250 -228 -91 152 -326 -215 478 -228 -91 152 -326 -215 500 Total Other Administrative Expenses 59,703 64,823 5,120 8 6,575 -53,128 -808 59,703 5,120 8 6,575 -53,128 -808 135,267 Technology Expenses Managed Services - Internal 7,230 7,228 -2 0 7,014 -216 -3 7,230 -2 0 7,014 -216 -3 14,456 Computers and Peripherals 0 0 0 N/A 1,175 1,175 100 0 0 N/A 1,175 1,175 100 0 Cable Services 1,619 1,556 -63 -4 1,530 -89 -6 1,619 -63 -4 1,530 -89 -6 3,112 Telephone - Landline|Virtual 6,535 7,475 940 13 7,328 794 11 6,535 940 13 7,328 794 11 14,950 Internet Services 4,696 4,498 -198 -4 5,901 1,205 20 4,696 -198 -4 5,901 1,205 20 8,996 Cellular - Phones | Tablets 1,088 1,111 23 2 1,095 8 1 1,088 23 2 1,095 8 1 2,222 Total Technology Expenses 21,167 21,868 701 3 24,043 2,876 12 21,167 701 3 24,043 2,876 12 43,735 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 144 of 194164 EXHIBIT: Redtail - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Redtail Ponds PSH, LLLP (redtail) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Compliance Expenses Compliance Services - Internal 2,952 2,950 -2 0 6,978 4,026 58 2,952 -2 0 6,978 4,026 58 5,899 Compliance Services - Consultants 0 1,380 1,380 100 0 0 N/A 0 1,380 100 0 0 N/A 2,760 Total Compliance Expenses 2,952 4,330 1,378 32 6,978 4,026 58 2,952 1,378 32 6,978 4,026 58 8,659 TOTAL ADMINISTRATIVE EXPENSES 212,149 223,358 11,210 5 161,806 -50,342 -31 212,149 11,210 5 161,806 -50,342 -31 453,190 GENERAL EXPENSES Resident Services Resident Services - Internal 133,494 153,790 20,296 13 65,784 -67,710 -103 133,494 20,296 13 65,784 -67,710 -103 307,580 RS - Discretionary Mission-Driven Support -19,500 -99,796 -80,296 -80 0 19,500 N/A -19,500 -80,296 -80 0 19,500 N/A -199,592 Resident Programming 0 0 0 N/A 127 127 100 0 0 N/A 127 127 100 0 RS Client Assistance 398 0 -398 N/A 85 -313 -369 398 -398 N/A 85 -313 -369 0 RS - Grant Expenses 140,632 192,217 51,585 27 0 -140,632 N/A 140,632 51,585 27 0 -140,632 N/A 389,093 Total Resident Services 255,024 246,211 -8,813 -4 65,996 -189,028 -286 255,024 -8,813 -4 65,996 -189,028 -286 497,081 Utilities Expense Water 6,267 6,431 164 3 5,981 -286 -5 6,267 164 3 5,981 -286 -5 12,863 Electricity 30,890 40,389 9,499 24 40,315 9,425 23 30,890 9,499 24 40,315 9,425 23 80,778 Gas 2,364 2,703 338 13 2,697 332 12 2,364 338 13 2,697 332 12 5,405 Trash Removal Services 3,486 3,744 258 7 3,697 211 6 3,486 258 7 3,697 211 6 6,780 Total Utility Expenses 43,008 53,267 10,260 19 52,691 9,683 18 43,008 10,260 19 52,691 9,683 18 105,826 Maintenance Expenses Maintenance - On Call 50 0 -50 N/A 0 -50 N/A 50 -50 N/A 0 -50 N/A 179 Tools and Equipment 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 180 Total General Maint Expense 50 0 -50 N/A 0 -50 N/A 50 -50 N/A 0 -50 N/A 359 Supplies-Grounds 169 1,048 879 84 635 467 73 169 879 84 635 467 73 2,096 Supplies-Appliances 776 600 -176 -29 614 -162 -26 776 -176 -29 614 -162 -26 1,200 Supplies-Electrical 2,882 2,751 -131 -5 1,530 -1,352 -88 2,882 -131 -5 1,530 -1,352 -88 5,502 Supplies-Pest Control 128 27 -102 -380 2 -126 -5,432 128 -102 -380 2 -126 -5,432 54 Supplies-Janitorial 1,158 721 -437 -61 266 -892 -335 1,158 -437 -61 266 -892 -335 1,443 Supplies-General 1,797 1,597 -200 -13 1,951 154 8 1,797 -200 -13 1,951 154 8 3,194 Supplies-Plumbing 1,332 1,139 -192 -17 1,034 -297 -29 1,332 -192 -17 1,034 -297 -29 2,278 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 145 of 194165 EXHIBIT: Redtail - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Redtail Ponds PSH, LLLP (redtail) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Supplies-Paint 33 0 -33 N/A 0 -33 N/A 33 -33 N/A 0 -33 N/A 0 Supplies-HVAC 0 439 439 100 86 86 100 0 439 100 86 86 100 878 Supplies-Doors 1,749 632 -1,117 -177 558 -1,191 -214 1,749 -1,117 -177 558 -1,191 -214 1,265 Supplies-Windows 51 12 -40 -345 0 -51 N/A 51 -40 -345 0 -51 N/A 23 Total Supplies | Materials 10,076 8,966 -1,110 -12 6,677 -3,399 -51 10,076 -1,110 -12 6,677 -3,399 -51 17,931 Contract-Work Orders - Internal 16,134 17,347 1,213 7 19,427 3,294 17 16,134 1,213 7 19,427 3,294 17 34,694 Contract-Preventative - Internal 6,750 6,750 0 0 14,250 7,500 53 6,750 0 0 14,250 7,500 53 13,500 Contract-System Services 11,797 27,956 16,159 58 24,545 12,748 52 11,797 16,159 58 24,545 12,748 52 35,154 Contract-Appliance 0 180 180 100 176 176 100 0 180 100 176 176 100 756 Contract-Carpet Cleaning 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 266 Contract-Electrical 1,061 1,100 39 4 733 -328 -45 1,061 39 4 733 -328 -45 2,200 Contract-Pest Control 651 198 -453 -228 381 -270 -71 651 -453 -228 381 -270 -71 793 Contract-Flooring 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 459 Contract-Grounds 12,183 10,478 -1,705 -16 7,322 -4,861 -66 12,183 -1,705 -16 7,322 -4,861 -66 20,956 Contract-Janitorial 12,314 13,552 1,238 9 13,222 908 7 12,314 1,238 9 13,222 908 7 26,104 Contract-Plumbing 0 1,768 1,768 100 1,744 1,744 100 0 1,768 100 1,744 1,744 100 3,522 Contract-HVAC 0 2,572 2,572 100 1,473 1,473 100 0 2,572 100 1,473 1,473 100 4,970 Contract-Windows 0 623 623 100 610 610 100 0 623 100 610 610 100 623 Contract-Elevators 612 290 -323 -111 283 -329 -116 612 -323 -111 283 -329 -116 579 Contract-General 3,712 5,142 1,430 28 3,921 209 5 3,712 1,430 28 3,921 209 5 15,713 Total Contract Costs 65,214 87,956 22,742 26 88,087 22,873 26 65,214 22,742 26 88,087 22,873 26 160,290 Total Maintenance Expenses - Core 75,340 96,922 21,582 22 94,764 19,424 20 75,340 21,582 22 94,764 19,424 20 178,580 Unit Turn-Work Order 5,398 2,550 -2,848 -112 2,138 -3,260 -153 5,398 -2,848 -112 2,138 -3,260 -153 5,100 Unit Turn-External 13,166 4,250 -8,916 -210 7,492 -5,674 -76 13,166 -8,916 -210 7,492 -5,674 -76 8,500 Unit Turn Materials 2,918 1,200 -1,718 -143 0 -2,918 N/A 2,918 -1,718 -143 0 -2,918 N/A 2,400 Total Unit Turn Costs 21,482 8,000 -13,482 -169 9,630 -11,852 -123 21,482 -13,482 -169 9,630 -11,852 -123 16,000 Total Maintenance Expenses 96,822 104,922 8,100 8 104,394 7,573 7 96,822 8,100 8 104,394 7,573 7 194,580 Insurance & Taxes Expenses Insurance - Property 18,581 20,282 1,700 8 19,551 970 5 18,581 1,700 8 19,551 970 5 40,563 Insurance - Liability 1,543 1,689 146 9 0 -1,543 N/A 1,543 146 9 0 -1,543 N/A 3,378 Insurance - Umbrella 2,799 2,840 41 1 0 -2,799 N/A 2,799 41 1 0 -2,799 N/A 5,679 Insurance - Specialty | Other 4,520 0 -4,520 N/A 0 -4,520 N/A 4,520 -4,520 N/A 0 -4,520 N/A 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 146 of 194166 EXHIBIT: Redtail - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Redtail Ponds PSH, LLLP (redtail) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Tax & Insurance Expenses 27,443 24,810 -2,633 -11 19,551 -7,892 -40 27,443 -2,633 -11 19,551 -7,892 -40 49,620 Other General Expenses Membership and Fees 227 330 103 31 153 -74 -48 227 103 31 153 -74 -48 364 Bank Fees 1,607 1,566 -41 -3 1,617 10 1 1,607 -41 -3 1,617 10 1 3,140 Filing Fees 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 20 Office Supplies 597 2,554 1,957 77 2,359 1,762 75 597 1,957 77 2,359 1,762 75 3,788 Copier and Printer Usage | Supplies 3,202 1,468 -1,733 -118 1,626 -1,575 -97 3,202 -1,733 -118 1,626 -1,575 -97 3,195 Small Office Equipment 60 327 267 82 65 5 8 60 267 82 65 5 8 327 Meetings Expenses 0 250 250 100 11 11 100 0 250 100 11 11 100 500 Miscellaneous General Expense 0 180 180 100 0 0 N/A 0 180 100 0 0 N/A 450 Total Other General Expenses 5,692 6,675 983 15 5,831 139 2 5,692 983 15 5,831 139 2 11,785 Reserve Allowances Reserve Account Funding Allowance 10,818 10,818 0 0 10,503 -315 -3 10,818 0 0 10,503 -315 -3 21,636 Total Reserve Allowances 10,818 10,818 0 0 10,503 -315 -3 10,818 0 0 10,503 -315 -3 21,636 TOTAL GENERAL EXPENSES 438,806 446,702 7,896 2 258,966 -179,840 -69 438,806 7,896 2 258,966 -179,840 -69 880,528 TOTAL DIRECT OPERATING EXPENSES 650,955 670,061 19,106 3 420,772 -230,183 -55 650,955 19,106 3 420,772 -230,183 -55 1,333,717 TOTAL OPERATING EXPENSES 650,955 670,061 19,106 3 420,772 -230,183 -55 650,955 19,106 3 420,772 -230,183 -55 1,333,717 NET OPERATING INCOME 2,565 69,136 -66,571 -96 69,691 -67,126 -96 2,565 -66,571 -96 69,691 -67,126 -96 156,993 NON-OPERATING INCOME | EXPENSE NON OPERATING INCOME TOTAL NON OPERATING INCOME 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 0 NON OPERATING EXPENSES Interest Expense - Soft Loans 37,784 37,784 0 0 37,888 103 0 37,784 0 0 37,888 103 0 75,568 Interest Expense - Hard Loans 34,628 34,628 0 0 35,684 1,056 3 34,628 0 0 35,684 1,056 3 68,714 Interest Expense - Loan Fees 1,801 1,801 0 0 1,801 0 0 1,801 0 0 1,801 0 0 3,601 74,213 74,213 0 0 75,372 1,159 2 74,213 0 0 75,372 1,159 2 147,883 Depreciation - Buildings 173,660 172,707 -952 -1 172,707 -952 -1 173,660 -952 -1 172,707 -952 -1 345,415 Depreciation - Furn,Fix,Equip - Units 5,024 4,209 -815 -19 3,329 -1,695 -51 5,024 -815 -19 3,329 -1,695 -51 8,418 Depreciation - Furn,Fix,Equip - Common 5,696 6,939 1,243 18 5,331 -366 -7 5,696 1,243 18 5,331 -366 -7 13,878 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 147 of 194167 EXHIBIT: Redtail - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Redtail Ponds PSH, LLLP (redtail) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Depreciation - Improvements 41,174 40,993 -181 0 40,993 -181 0 41,174 -181 0 40,993 -181 0 81,986 Amortization - Tax Credit Fees 2,034 2,034 0 0 2,034 0 0 2,034 0 0 2,034 0 0 4,068 227,588 226,883 -705 0 224,394 -3,194 -1 227,588 -705 0 224,394 -3,194 -1 453,765 COVID 19 Expenses 162 0 -162 N/A 0 -162 N/A 162 -162 N/A 0 -162 N/A 0 TOTAL NON OPERATING EXPENSES 301,964 301,096 -868 0 299,766 -2,197 -1 301,964 -868 0 299,766 -2,197 -1 601,649 NET NON-OPERATING INCOME(EXPENSE)-301,964 -301,096 -868 0 -299,766 -2,197 -1 -301,964 -868 0 -299,766 -2,197 -1 -601,649 NET INCOME (LOSS)-299,398 -231,959 -67,439 -29 -230,075 -69,323 -30 -299,398 -67,439 -29 -230,075 -69,323 -30 -444,655 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 148 of 194168 EXHIBIT: Redtail - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 80,469 88,068 88,068 88,068 88,068 88,068 90,507 90,507 90,507 90,507 90,507 1,063,851 1,076,386 -12,535 -1 (Loss) Gain to Lease -2,671 -9,070 -1,028 -596 -278 -43 1,808 1,837 1,837 1,837 1,837 -2,693 23,930 -26,623 -111 Less: Vacancies -3,078 -2 -1,241 1,872 -928 0 -905 -905 -905 -905 -905 -8,807 -10,763 1,956 -18 NET POTENTIAL RENT 74,720 78,996 85,799 89,344 86,862 88,025 91,410 91,439 91,439 91,439 91,439 1,052,351 1,089,553 -37,202 -3 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs 0 -400 0 0 0 -50 0 0 0 0 0 -450 0 -450 N/A Less: Allowance for Doubtful Accounts -2,173 -2,378 -2,378 -2,378 -2,378 -2,378 -2,253 -2,253 -2,253 -2,253 -2,253 -27,578 -27,032 -546 2 NET POTENTIAL RENT ADJUSTMENTS -2,173 -2,778 -2,378 -2,378 -2,378 -2,428 -2,253 -2,253 -2,253 -2,253 -2,253 -28,028 -27,032 -996 4 NET RENTAL INCOME 72,547 76,218 83,421 86,966 84,484 85,597 89,157 89,186 89,186 89,186 89,186 1,024,323 1,062,521 -38,198 -4 OTHER TENANT INCOME Damages 0 7,343 3,031 0 0 0 717 717 717 717 717 14,677 8,605 6,072 71 Late Charges 275 175 250 300 200 225 256 256 256 256 256 2,962 3,075 -112 -4 Legal Fees - Tenant 2,072 251 198 0 0 0 782 782 782 782 782 7,215 9,388 -2,173 -23 Tenant Work Orders 38 117 0 42 3,011 0 386 386 386 386 386 5,525 4,634 891 19 TOTAL OTHER TENANT INCOME 2,385 7,885 3,480 342 3,211 225 2,142 2,142 2,142 2,142 2,142 30,380 25,703 4,677 18 EFFECTIVE GROSS INCOME 74,932 84,103 86,901 87,309 87,695 85,822 91,299 91,328 91,328 91,328 91,328 1,054,703 1,088,224 -33,521 -3 GRANT REVENUE Grants - HUD CoC 14,237 29,543 26,132 28,212 42,508 0 32,036 32,036 32,036 34,366 34,366 337,508 389,093 -51,585 -13 TOTAL GRANT REVENUE 14,237 29,543 26,132 28,212 42,508 0 32,036 32,036 32,036 34,366 34,366 337,508 389,093 -51,585 -13 OTHER INCOME Miscellaneous Income 610 460 639 1,148 1,451 1,384 982 982 982 982 982 11,588 11,790 -202 -2 Interest Income - Unrestricted 81 86 75 68 69 53 134 134 134 134 134 1,235 1,605 -370 -23 TOTAL OTHER INCOME 692 546 715 1,216 1,520 1,437 1,116 1,116 1,116 1,116 1,116 12,823 13,394 -572 -4 TOTAL OPERATING REVENUE 89,861 114,193 113,747 116,736 131,724 87,259 124,451 124,480 124,480 126,810 126,810 1,405,034 1,490,711 -85,677 -6 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 138,647 138,646 -1 0 Total Labor Expenses 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 11,554 138,647 138,646 -1 0 Legal Expense Legal-Criminal Background Checks 0 87 34 22 34 0 0 0 0 0 0 176 0 -176 N/A 12 Month Actual to Budget Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 149 of 194169 EXHIBIT: Redtail - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Redtail Ponds PSH, LLLP (redtail) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Legal-Tenant Screening 0 0 0 0 0 0 128 128 128 128 128 765 1,530 765 50 Legal-General Expense 273 0 198 185 345 1,127 211 211 211 211 211 3,393 2,528 -865 -34 Total Legal Expense 273 87 232 208 378 1,127 338 338 338 338 338 4,334 4,058 -277 -7 Management Related Expense Property Management Expense 5,978 6,493 7,077 7,315 7,153 7,218 7,494 7,496 7,496 7,496 7,496 86,208 89,327 3,119 3 Accounting/Bookkeeping Expense 2,242 2,435 2,654 2,743 2,683 2,707 2,810 2,811 2,811 2,811 2,811 32,328 33,498 1,170 3 Total Management Related Expenses 8,219 8,929 9,731 10,058 9,836 9,925 10,304 10,307 10,307 10,307 10,307 118,535 122,824 4,289 3 Other Administrative Expenses Staff Training & Conferences 0 0 0 0 0 0 62 62 62 62 62 375 750 375 50 Travel, Lodging & Per Diems 12 0 0 0 0 0 0 0 0 0 0 12 0 -12 N/A Mileage 0 0 0 53 0 0 0 0 0 0 0 53 0 -53 N/A Auditing & Tax Services 88 1,225 656 1,536 876 876 858 858 858 858 858 10,406 10,296 -110 -1 Tax Credit Monitoring 0 0 0 0 0 0 0 0 0 0 5,621 5,621 5,621 0 0 Marketing 0 0 0 0 0 0 8 8 8 8 8 50 100 50 50 Resident Relocation 0 0 0 0 0 290 0 0 0 0 0 290 0 -290 N/A Security Services 6,630 0 20,542 10,266 16,174 0 9,833 9,833 9,833 9,833 9,833 112,612 118,000 5,388 5 Miscellaneous Admin Expenses 40 126 106 114 59 34 42 42 42 42 42 728 500 -228 -46 Total Other Administrative Expenses 6,769 1,351 21,304 11,969 17,110 1,200 10,804 10,804 10,804 10,804 16,425 130,147 135,267 5,120 4 Technology Expenses Managed Services - Internal 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 1,205 14,458 14,456 -2 0 Cable Services 250 265 265 280 280 280 259 259 259 259 259 3,175 3,112 -63 -2 Telephone - Landline|Virtual 1,368 675 1,071 1,082 1,102 1,237 1,246 1,246 1,246 1,246 1,246 14,010 14,950 940 6 Internet Services 735 735 735 748 749 994 750 750 750 750 750 9,194 8,996 -198 -2 Cellular - Phones | Tablets 182 182 182 182 182 180 185 185 185 185 185 2,198 2,222 23 1 Total Technology Expenses 3,739 3,061 3,457 3,496 3,517 3,896 3,645 3,645 3,645 3,645 3,645 43,034 43,735 701 2 Compliance Expenses Compliance Services - Internal 492 492 492 492 492 492 492 492 492 492 492 5,902 5,899 -2 0 Compliance Services - Consultants 0 0 0 0 0 0 230 230 230 230 230 1,380 2,760 1,380 50 Total Compliance Expenses 492 492 492 492 492 492 722 722 722 722 722 7,282 8,659 1,378 16 TOTAL ADMINISTRATIVE EXPENSES 31,046 25,474 46,770 37,777 42,887 28,194 37,366 37,369 37,369 37,369 42,990 441,980 453,190 11,210 2 GENERAL EXPENSES Resident Services Resident Services - Internal 25,499 25,499 25,499 18,999 18,999 18,999 25,632 25,632 25,632 25,632 25,632 287,284 307,580 20,296 7 RS - Discretionary Mission-Driven Support -6,500 -6,500 -6,500 0 0 0 -16,633 -16,633 -16,633 -16,633 -16,633 -119,296 -199,592 -80,296 40 Resident Programming 0 20 0 -20 0 0 0 0 0 0 0 0 0 0 N/A RS Client Assistance 0 166 18 -124 23 315 0 0 0 0 0 398 0 -398 N/A Resident Services - External 120 120 0 -240 0 0 0 0 0 0 0 0 0 0 N/A RS - Grant Expenses 14,237 29,543 26,132 28,212 42,508 0 32,036 32,036 32,036 34,366 34,366 337,508 389,093 51,585 13 Total Resident Services 33,356 48,848 45,148 46,827 61,530 19,314 41,035 41,035 41,035 43,365 43,365 505,894 497,081 -8,813 -2 Utilities Expense Water 942 1,006 919 985 945 1,471 1,072 1,072 1,072 1,072 1,072 12,698 12,863 164 1 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 150 of 194170 EXHIBIT: Redtail - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Redtail Ponds PSH, LLLP (redtail) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Electricity 7,552 6,053 5,263 5,085 4,394 2,544 6,732 6,732 6,732 6,732 6,732 71,279 80,778 9,499 12 Gas 0 637 785 310 328 303 450 450 450 450 450 5,067 5,405 338 6 Trash Removal Services 565 566 1,111 27 569 648 509 555 468 468 544 6,522 6,780 258 4 Total Utility Expenses 9,059 8,262 8,079 6,407 6,236 4,966 8,763 8,809 8,722 8,722 8,798 95,566 105,826 10,260 10 Maintenance Expenses Maintenance - On Call 0 0 0 25 0 25 0 179 0 0 0 229 179 -50 -28 Tools and Equipment 0 0 0 0 0 0 0 0 0 180 0 180 180 0 0 Total General Maint Expense 0 0 0 25 0 25 0 179 0 180 0 409 359 -50 -14 Supplies-Grounds 78 5 0 0 0 86 175 175 175 175 175 1,217 2,096 879 42 Supplies-Appliances 183 90 169 252 81 2 100 100 100 100 100 1,376 1,200 -176 -15 Supplies-Electrical 1,166 716 596 48 287 68 458 458 458 458 458 5,632 5,502 -131 -2 Supplies-Pest Control 0 0 0 0 128 0 4 4 4 4 4 155 54 -102 -190 Supplies-Janitorial 417 108 0 370 0 262 120 120 120 120 120 1,879 1,443 -437 -30 Supplies-General 76 799 426 427 69 0 266 266 266 266 266 3,394 3,194 -200 -6 Supplies-Plumbing 102 107 289 213 425 195 190 190 190 190 190 2,471 2,278 -192 -8 Supplies-Paint 0 0 33 0 0 0 0 0 0 0 0 33 0 -33 N/A Supplies-HVAC 0 0 0 0 0 0 73 73 73 73 73 439 878 439 50 Supplies-Doors 1,509 68 67 6 70 29 105 105 105 105 105 2,381 1,265 -1,117 -88 Supplies-Windows 0 0 51 0 0 0 2 2 2 2 2 63 23 -40 -172 Total Supplies | Materials 3,532 1,893 1,632 1,316 1,061 642 1,494 1,494 1,494 1,494 1,494 19,041 17,931 -1,110 -6 Contract-Work Orders - Internal 3,320 2,720 3,464 2,932 914 2,784 2,891 2,891 2,891 2,891 2,891 33,481 34,694 1,213 3 Contract-Preventative - Internal 1,125 1,125 1,125 1,125 1,125 1,125 1,125 1,125 1,125 1,125 1,125 13,500 13,500 0 0 Contract-System Services 0 1,462 8,787 215 1,332 0 368 0 1,507 1,368 2,673 18,995 35,154 16,159 46 Contract-Appliance 0 0 0 0 0 0 0 221 0 0 90 576 756 180 24 Contract-Carpet Cleaning 0 0 0 0 0 0 266 0 0 0 0 266 266 0 0 Contract-Electrical 175 0 536 0 0 350 183 183 183 183 183 2,161 2,200 39 2 Contract-Pest Control 97 166 97 97 97 97 0 198 0 0 297 1,246 793 -453 -57 Contract-Flooring 0 0 0 0 0 0 0 0 0 459 0 459 459 0 0 Contract-Grounds 4,911 2,469 2,780 674 674 674 1,746 1,746 1,746 1,746 1,746 22,661 20,956 -1,705 -8 Contract-Janitorial 2,047 2,047 2,047 2,079 2,047 2,047 2,092 2,092 2,092 2,092 2,092 24,866 26,104 1,238 5 Contract-Plumbing 0 0 0 0 0 0 722 613 0 0 419 1,754 3,522 1,768 50 Contract-HVAC 0 0 0 0 0 0 0 264 0 0 1,067 2,398 4,970 2,572 52 Contract-Windows 0 0 0 0 0 0 0 0 0 0 0 0 623 623 100 Contract-Elevators 612 0 0 0 0 0 48 48 48 48 48 902 579 -323 -56 Contract-General 450 935 730 212 1,230 155 1,068 618 1,270 1,201 5,248 14,283 15,713 1,430 9 Total Contract Costs 12,738 10,924 19,565 7,335 7,420 7,232 10,509 10,000 10,864 11,114 17,880 137,548 160,290 22,742 14 Total Maintenance Expenses - Core 16,270 12,817 21,197 8,677 8,480 7,899 12,004 11,673 12,358 12,788 19,375 156,998 178,580 21,582 12 Unit Turn-Work Order 2,168 1,339 0 0 1,891 0 425 425 425 425 425 7,948 5,100 -2,848 -56 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 151 of 194171 EXHIBIT: Redtail - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Redtail Ponds PSH, LLLP (redtail) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Unit Turn-External 2,960 5,924 2,100 1,482 700 0 708 708 708 708 708 17,416 8,500 -8,916 -105 Unit Turn Materials 346 2,069 219 123 162 0 200 200 200 200 200 4,118 2,400 -1,718 -72 Total Unit Turn Costs 5,474 9,332 2,319 1,605 2,753 0 1,333 1,333 1,333 1,333 1,333 29,482 16,000 -13,482 -84 Total Maintenance Expenses 21,744 22,149 23,516 10,281 11,233 7,899 13,337 13,007 13,692 14,122 20,708 186,480 194,580 8,100 4 Insurance & Taxes Expenses Insurance - Property 3,167 3,167 3,250 3,250 2,650 3,097 3,380 3,380 3,380 3,380 3,380 38,863 40,563 1,700 4 Insurance - Liability 257 257 257 257 257 257 282 282 282 282 282 3,232 3,378 146 4 Insurance - Umbrella 466 466 466 466 466 466 473 473 473 473 473 5,638 5,679 41 1 Insurance - Specialty | Other 0 0 0 0 0 4,520 0 0 0 0 0 4,520 0 -4,520 N/A Total Tax & Insurance Expenses 3,890 3,890 3,974 3,974 3,374 8,341 4,135 4,135 4,135 4,135 4,135 52,253 49,620 -2,633 -5 Other General Expenses Membership and Fees 0 0 0 0 127 100 35 0 0 0 0 261 364 103 28 Bank Fees 269 266 277 274 267 254 264 260 267 272 256 3,181 3,140 -41 -1 Filing Fees 0 0 0 0 0 0 10 0 0 10 0 20 20 0 0 Office Supplies 110 94 13 109 246 25 55 210 187 394 244 1,831 3,788 1,957 52 Copier and Printer Usage | Supplies 786 470 450 550 471 475 327 273 301 68 462 4,929 3,195 -1,733 -54 Small Office Equipment 0 0 0 0 60 0 0 0 0 0 0 60 327 267 82 Meetings Expenses 0 0 0 0 0 0 42 42 42 42 42 250 500 250 50 Miscellaneous General Expense 0 0 0 0 0 0 0 90 0 90 90 270 450 180 40 Total Other General Expenses 1,165 829 740 934 1,170 853 732 874 796 875 1,095 10,802 11,785 983 8 Reserve Allowances Reserve Account Funding Allowance 1,803 1,803 1,803 1,803 1,803 1,803 1,803 1,803 1,803 1,803 1,803 21,636 21,636 0 0 Total Reserve Allowances 1,803 1,803 1,803 1,803 1,803 1,803 1,803 1,803 1,803 1,803 1,803 21,636 21,636 0 0 TOTAL GENERAL EXPENSES 71,017 85,781 83,260 70,226 85,347 43,175 69,805 69,663 70,182 73,021 79,903 872,631 880,528 7,896 1 TOTAL DIRECT OPERATING EXPENSES 102,064 111,255 130,030 108,003 128,233 71,370 107,171 107,032 107,551 110,390 122,893 1,314,611 1,333,717 19,106 1 TOTAL OPERATING EXPENSES 102,064 111,255 130,030 108,003 128,233 71,370 107,171 107,032 107,551 110,390 122,893 1,314,611 1,333,717 19,106 1 NET OPERATING INCOME -12,203 2,938 -16,283 8,733 3,491 15,889 17,281 17,449 16,929 16,420 3,917 90,422 156,993 -66,571 -42 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 6,297 6,297 6,297 6,297 6,297 6,297 6,297 6,297 6,297 6,297 6,297 75,568 75,568 0 0 Interest Expense - Hard Loans 5,809 5,794 5,779 5,764 5,749 5,734 5,719 5,704 5,673 5,658 5,643 68,714 68,714 0 0 Interest Expense - Loan Fees 300 300 300 300 300 300 300 300 300 300 300 3,601 3,601 0 0 12,406 12,391 12,376 12,361 12,346 12,331 12,316 12,301 12,271 12,256 12,240 147,883 147,883 0 0 Depreciation - Buildings 28,943 28,943 28,943 28,943 28,943 28,943 28,785 28,785 28,785 28,785 28,785 346,367 345,415 -952 0 Depreciation - Furn,Fix,Equip - Units 837 837 837 837 837 837 702 702 702 702 701 9,233 8,418 -815 -10 Depreciation - Furn,Fix,Equip - Common 949 949 949 949 949 949 1,157 1,157 1,157 1,157 1,156 12,636 13,878 1,243 9 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 152 of 194172 EXHIBIT: Redtail - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Redtail Ponds PSH, LLLP (redtail) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Depreciation - Improvements 6,862 6,862 6,862 6,862 6,862 6,862 6,832 6,832 6,832 6,832 6,832 82,167 81,986 -181 0 Amortization - Tax Credit Fees 339 339 339 339 339 339 339 339 339 339 339 4,068 4,068 0 0 37,931 37,931 37,931 37,931 37,931 37,931 37,814 37,814 37,814 37,814 37,814 454,471 453,765 -705 0 COVID 19 Expenses 0 162 0 0 0 0 0 0 0 0 0 162 0 -162 N/A TOTAL NON OPERATING EXPENSES 50,337 50,485 50,308 50,293 50,278 50,263 50,130 50,115 50,085 50,069 50,054 602,516 601,649 -868 0 NET NON-OPERATING INCOME(EXPENSE)-50,337 -50,485 -50,308 -50,293 -50,278 -50,263 -50,130 -50,115 -50,085 -50,069 -50,054 -602,516 -601,649 -868 0 NET INCOME (LOSS)-62,540 -47,547 -66,591 -41,560 -46,787 -34,373 -32,850 -32,666 -33,155 -33,649 -46,137 -512,094 -444,655 -67,439 15 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 153 of 194173 EXHIBIT: Redwood - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 525,804 538,709 -12,905 -2 492,614 33,190 7 525,804 -12,905 -2 492,614 33,190 7 1,089,767 (Loss) Gain to Lease -49,300 -61,796 12,496 20 -29,844 -19,456 -65 -49,300 12,496 20 -29,844 -19,456 -65 -122,908 Less: Vacancies -11,259 -16,162 4,903 30 -27,837 16,578 60 -11,259 4,903 30 -27,837 16,578 60 -32,692 NET POTENTIAL RENT 465,245 460,751 4,494 1 434,933 30,312 7 465,245 4,494 1 434,933 30,312 7 934,167 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -100 0 -100 N/A -1,655 1,555 94 -100 -100 N/A -1,655 1,555 94 0 Less: Allowance for Doubtful Accounts -7,361 -7,542 181 2 0 -7,361 N/A -7,361 181 2 0 -7,361 N/A -15,257 Pet Rent 1,945 1,250 695 56 2,263 -318 -14 1,945 695 56 2,263 -318 -14 2,500 Add: Recoveries 395 0 395 N/A 0 395 N/A 395 395 N/A 0 395 N/A 0 Repayment Agreement 1 0 0 0 N/A 1,251 -1,251 -100 0 0 N/A 1,251 -1,251 -100 0 NET POTENTIAL RENT ADJUSTMENTS -5,121 -6,292 1,171 19 1,859 -6,980 -375 -5,121 1,171 19 1,859 -6,980 -375 -12,757 NET RENTAL INCOME 460,124 454,459 5,665 1 436,792 23,332 5 460,124 5,665 1 436,792 23,332 5 921,410 OTHER TENANT INCOME Late Charges 1,775 1,912 -138 -7 1,925 -150 -8 1,775 -138 -7 1,925 -150 -8 3,825 Legal Fees - Tenant 1,973 268 1,705 637 0 1,973 N/A 1,973 1,705 637 0 1,973 N/A 535 NSF Charges 125 25 100 400 25 100 400 125 100 400 25 100 400 50 Utility Reimb.-Tenant 1,024 428 596 139 200 824 411 1,024 596 139 200 824 411 857 Misc.Tenant Income -25 -70 46 65 575 -600 -104 -25 46 65 575 -600 -104 -141 Tenant Work Orders 12,057 2,813 9,244 329 4,158 7,899 190 12,057 9,244 329 4,158 7,899 190 5,626 TOTAL OTHER TENANT INCOME 16,929 5,376 11,554 215 6,883 10,046 146 16,929 11,554 215 6,883 10,046 146 10,752 EFFECTIVE GROSS INCOME 477,053 459,835 17,219 4 443,676 33,378 8 477,053 17,219 4 443,676 33,378 8 932,162 OTHER INCOME Interest Income - Unrestricted 3,220 4,522 -1,302 -29 3,694 -474 -13 3,220 -1,302 -29 3,694 -474 -13 9,044 TOTAL OTHER INCOME 3,220 4,522 -1,302 -29 3,694 -474 -13 3,220 -1,302 -29 3,694 -474 -13 9,044 TOTAL OPERATING REVENUE 480,274 464,357 15,917 3 447,370 32,904 7 480,274 15,917 3 447,370 32,904 7 941,206 OPERATING EXPENSES Village on Redwood, LLLP - All (.vorttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 154 of 194174 EXHIBIT: Redwood - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Redwood, LLLP - All (.vorttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 45,059 51,992 6,933 13 31,326 -13,733 -44 45,059 6,933 13 31,326 -13,733 -44 103,985 Total Labor Expenses 45,059 51,992 6,933 13 31,326 -13,733 -44 45,059 6,933 13 31,326 -13,733 -44 103,985 Legal Expense Legal-Criminal Background Checks 702 0 -702 N/A 0 -702 N/A 702 -702 N/A 0 -702 N/A 0 Legal-Tenant Screening 5 600 595 99 0 -5 N/A 5 595 99 0 -5 N/A 1,200 Legal-General Expense 3,788 525 -3,263 -622 112 -3,676 -3,267 3,788 -3,263 -622 112 -3,676 -3,267 1,050 Total Legal Expense 4,496 1,125 -3,371 -300 112 -4,383 -3,896 4,496 -3,371 -300 112 -4,383 -3,896 2,250 Management Related Expense Property Management Expense 37,866 37,563 -303 -1 34,974 -2,892 -8 37,866 -303 -1 34,974 -2,892 -8 76,154 Accounting/Bookkeeping Expense 42,599 42,259 -340 -1 39,346 -3,254 -8 42,599 -340 -1 39,346 -3,254 -8 85,673 Total Management Related Expenses 80,465 79,822 -643 -1 74,319 -6,146 -8 80,465 -643 -1 74,319 -6,146 -8 161,827 Other Administrative Expenses Mileage 903 210 -693 -330 0 -903 N/A 903 -693 -330 0 -903 N/A 420 Auditing & Tax Services 5,576 5,148 -428 -8 5,050 -525 -10 5,576 -428 -8 5,050 -525 -10 10,296 Tax Credit Monitoring 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 6,285 Marketing 36 50 14 28 0 -36 N/A 36 14 28 0 -36 N/A 100 Resident Relocation 285 250 -35 -14 393 108 28 285 -35 -14 393 108 28 500 Consultants 0 0 0 N/A 35 35 100 0 0 N/A 35 35 100 0 Security Services -140 698 838 120 623 763 122 -140 838 120 623 763 122 1,395 Miscellaneous Admin Expenses 159 0 -159 N/A 0 -159 N/A 159 -159 N/A 0 -159 N/A 0 Total Other Administrative Expenses 6,819 6,356 -463 -7 6,101 -718 -12 6,819 -463 -7 6,101 -718 -12 18,997 Technology Expenses Managed Services - Internal 5,424 5,421 -3 0 3,300 -2,124 -64 5,424 -3 0 3,300 -2,124 -64 10,842 Cable Services 0 0 0 N/A 2,724 2,724 100 0 0 N/A 2,724 2,724 100 0 Telephone - Landline|Virtual 3,834 1,360 -2,475 -182 3,099 -735 -24 3,834 -2,475 -182 3,099 -735 -24 2,719 Internet Services 5,669 3,471 -2,198 -63 3,383 -2,286 -68 5,669 -2,198 -63 3,383 -2,286 -68 6,942 Cellular - Phones | Tablets 240 480 240 50 243 3 1 240 240 50 243 3 1 960 Total Technology Expenses 15,167 10,732 -4,435 -41 12,750 -2,417 -19 15,167 -4,435 -41 12,750 -2,417 -19 21,464 Compliance Expenses Compliance Services - Internal 3,540 3,540 0 0 8,376 4,836 58 3,540 0 0 8,376 4,836 58 7,079 Compliance Services - Consultants 245 250 5 2 350 105 30 245 5 2 350 105 30 500 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 155 of 194175 EXHIBIT: Redwood - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Redwood, LLLP - All (.vorttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Compliance Expenses 3,785 3,790 5 0 8,726 4,941 57 3,785 5 0 8,726 4,941 57 7,579 TOTAL ADMINISTRATIVE EXPENSES 155,791 153,817 -1,974 -1 133,335 -22,456 -17 155,791 -1,974 -1 133,335 -22,456 -17 316,101 GENERAL EXPENSES Resident Services Resident Services - Internal 14,400 14,400 0 0 0 -14,400 N/A 14,400 0 0 0 -14,400 N/A 28,800 Resident Services - External 288 0 -288 N/A 0 -288 N/A 288 -288 N/A 0 -288 N/A 0 Total Resident Services 14,688 14,400 -288 -2 0 -14,688 N/A 14,688 -288 -2 0 -14,688 N/A 28,800 Utilities Expense Water 17,314 18,320 1,005 5 23,167 5,853 25 17,314 1,005 5 23,167 5,853 25 43,140 Electricity 8,795 9,163 368 4 8,875 80 1 8,795 368 4 8,875 80 1 18,327 Electricity-Vacant Units 164 224 60 27 219 55 25 164 60 27 219 55 25 449 Gas 1,003 939 -65 -7 774 -230 -30 1,003 -65 -7 774 -230 -30 1,877 Gas-Vacant Units 0 171 171 100 159 159 100 0 171 100 159 159 100 341 Trash Removal Services 12,578 11,594 -984 -8 11,594 -984 -8 12,578 -984 -8 11,594 -984 -8 23,189 Total Utility Expenses 39,855 40,411 556 1 44,788 4,933 11 39,855 556 1 44,788 4,933 11 87,323 Maintenance Expenses Maintenance - On Call 90 0 -90 N/A 0 -90 N/A 90 -90 N/A 0 -90 N/A 0 Total General Maint Expense 90 0 -90 N/A 0 -90 N/A 90 -90 N/A 0 -90 N/A 0 Supplies-Grounds 746 650 -95 -15 662 -83 -13 746 -95 -15 662 -83 -13 1,301 Supplies-Appliances 1,153 311 -842 -271 566 -587 -104 1,153 -842 -271 566 -587 -104 622 Supplies-Electrical 831 1,500 669 45 2,563 1,731 68 831 669 45 2,563 1,731 68 3,000 Supplies-Pest Control 2 8 6 75 9 7 77 2 6 75 9 7 77 16 Supplies-Janitorial 596 792 196 25 1,048 452 43 596 196 25 1,048 452 43 1,584 Supplies-General 90 0 -90 N/A 236 145 62 90 -90 N/A 236 145 62 0 Supplies-Plumbing 303 2,281 1,979 87 2,756 2,453 89 303 1,979 87 2,756 2,453 89 4,563 Supplies-Paint 10 0 -10 N/A 1,488 1,478 99 10 -10 N/A 1,488 1,478 99 0 Supplies-HVAC 259 1,812 1,554 86 1,644 1,385 84 259 1,554 86 1,644 1,385 84 3,625 Supplies-Doors 383 1,625 1,241 76 2,314 1,931 83 383 1,241 76 2,314 1,931 83 3,249 Supplies-Windows 45 904 859 95 250 205 82 45 859 95 250 205 82 1,808 Total Supplies | Materials 4,418 9,885 5,467 55 13,536 9,118 67 4,418 5,467 55 13,536 9,118 67 19,769 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 156 of 194176 EXHIBIT: Redwood - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Redwood, LLLP - All (.vorttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Contract-Work Orders - Internal 29,781 30,444 663 2 37,582 7,801 21 29,781 663 2 37,582 7,801 21 60,888 Contract-Preventative - Internal 9,900 9,900 0 0 17,298 7,398 43 9,900 0 0 17,298 7,398 43 19,800 Contract-System Services 8,866 4,100 -4,766 -116 4,138 -4,728 -114 8,866 -4,766 -116 4,138 -4,728 -114 4,600 Contract-Appliance 1,262 1,951 689 35 1,951 689 35 1,262 689 35 1,951 689 35 3,901 Contract-Roof|Gutter 845 0 -845 N/A 0 -845 N/A 845 -845 N/A 0 -845 N/A 0 Contract-Electrical 1,253 250 -1,003 -401 0 -1,253 N/A 1,253 -1,003 -401 0 -1,253 N/A 500 Contract-Pest Control 735 1,696 961 57 0 -735 N/A 735 961 57 0 -735 N/A 3,392 Contract-Flooring 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 956 Contract-Grounds 20,420 21,107 687 3 19,298 -1,122 -6 20,420 687 3 19,298 -1,122 -6 42,215 Contract-Janitorial 2,400 2,460 60 2 2,400 0 0 2,400 60 2 2,400 0 0 4,920 Contract-Plumbing 7,105 7,935 830 10 7,039 -66 -1 7,105 830 10 7,039 -66 -1 15,869 Contract-HVAC 2,906 2,282 -624 -27 2,586 -320 -12 2,906 -624 -27 2,586 -320 -12 4,107 Contract-Windows 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 357 Contract-General 3,313 19,391 16,078 83 7,993 4,681 59 3,313 16,078 83 7,993 4,681 59 28,498 Total Contract Costs 88,785 101,515 12,730 13 100,286 11,501 11 88,785 12,730 13 100,286 11,501 11 190,003 Total Maintenance Expenses - Core 93,294 111,400 18,106 16 113,822 20,528 18 93,294 18,106 16 113,822 20,528 18 209,772 Unit Turn-Work Order 6,130 5,100 -1,030 -20 7,631 1,501 20 6,130 -1,030 -20 7,631 1,501 20 10,200 Unit Turn-External 17,006 8,500 -8,506 -100 4,825 -12,181 -252 17,006 -8,506 -100 4,825 -12,181 -252 17,000 Unit Turn Materials 2,571 2,400 -171 -7 0 -2,571 N/A 2,571 -171 -7 0 -2,571 N/A 4,800 Total Unit Turn Costs 25,707 16,000 -9,707 -61 12,456 -13,250 -106 25,707 -9,707 -61 12,456 -13,250 -106 32,000 Total Maintenance Expenses 119,000 127,400 8,399 7 126,278 7,278 6 119,000 8,399 7 126,278 7,278 6 241,772 Insurance & Taxes Expenses Insurance - Property 27,211 22,830 -4,381 -19 33,678 6,467 19 27,211 -4,381 -19 33,678 6,467 19 45,660 Insurance - Liability 1,888 2,144 256 12 0 -1,888 N/A 1,888 256 12 0 -1,888 N/A 4,287 Insurance - Umbrella 2,799 2,840 41 1 0 -2,799 N/A 2,799 41 1 0 -2,799 N/A 5,679 Total Tax & Insurance Expenses 31,897 27,813 -4,084 -15 33,678 1,780 5 31,897 -4,084 -15 33,678 1,780 5 55,626 Other General Expenses Bank Fees 25 0 -25 N/A 0 -25 N/A 25 -25 N/A 0 -25 N/A 0 Office Supplies 234 384 150 39 353 119 34 234 150 39 353 119 34 768 Copier and Printer Usage | Supplies 285 256 -30 -12 249 -36 -14 285 -30 -12 249 -36 -14 511 Postage Usage | Supplies 0 33 33 100 0 0 N/A 0 33 100 0 0 N/A 127 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 157 of 194177 EXHIBIT: Redwood - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Redwood, LLLP - All (.vorttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Small Office Equipment 0 75 75 100 0 0 N/A 0 75 100 0 0 N/A 150 Total Other General Expenses 544 748 203 27 602 58 10 544 203 27 602 58 10 1,556 Reserve Allowances Reserve Account Funding Allowance 18,240 18,240 0 0 17,712 -528 -3 18,240 0 0 17,712 -528 -3 36,480 Total Reserve Allowances 18,240 18,240 0 0 17,712 -528 -3 18,240 0 0 17,712 -528 -3 36,480 TOTAL GENERAL EXPENSES 224,224 229,011 4,787 2 223,058 -1,167 -1 224,224 4,787 2 223,058 -1,167 -1 451,557 TOTAL DIRECT OPERATING EXPENSES 380,016 382,828 2,812 1 356,393 -23,623 -7 380,016 2,812 1 356,393 -23,623 -7 767,658 TOTAL OPERATING EXPENSES 380,016 382,828 2,812 1 356,393 -23,623 -7 380,016 2,812 1 356,393 -23,623 -7 767,658 NET OPERATING INCOME 100,258 81,529 18,729 23 90,977 9,281 10 100,258 18,729 23 90,977 9,281 10 173,548 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 131,115 135,279 4,163 3 126,405 -4,711 -4 131,115 4,163 3 126,405 -4,711 -4 270,558 Interest Expense - Hard Loans 47,435 47,432 -3 0 48,561 1,126 2 47,435 -3 0 48,561 1,126 2 94,538 Interest Expense - Other 3,175 0 -3,175 N/A 3,086 -89 -3 3,175 -3,175 N/A 3,086 -89 -3 0 Interest Expense - Loan Fees 7,312 7,312 0 0 7,312 0 0 7,312 0 0 7,312 0 0 14,623 189,037 190,022 986 1 185,363 -3,674 -2 189,037 986 1 185,363 -3,674 -2 379,719 Depreciation - Buildings 304,055 304,055 0 0 304,055 0 0 304,055 0 0 304,055 0 0 608,110 Depreciation - Furn,Fix,Equip - Units 2,801 2,186 -615 -28 536 -2,265 -423 2,801 -615 -28 536 -2,265 -423 4,372 Depreciation - Furn,Fix,Equip - Common 2,397 1,702 -695 -41 1,332 -1,065 -80 2,397 -695 -41 1,332 -1,065 -80 3,405 Depreciation - Improvements 55,303 57,246 1,943 3 52,883 -2,420 -5 55,303 1,943 3 52,883 -2,420 -5 114,491 Amortization - Tax Credit Fees 2,589 2,589 0 0 2,589 0 0 2,589 0 0 2,589 0 0 5,178 367,145 367,778 633 0 361,395 -5,750 -2 367,145 633 0 361,395 -5,750 -2 735,556 TOTAL NON OPERATING EXPENSES 556,182 557,800 1,618 0 546,758 -9,424 -2 556,182 1,618 0 546,758 -9,424 -2 1,115,274 PARTNERSHIP INCOME(EXPENSES) Partnership Expenses 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A -18,448 TOTAL PARTNERSHIP INCOME(EXPENSES)0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A -18,448 NET NON-OPERATING INCOME(EXPENSE)-556,182 -557,800 1,618 0 -546,758 -9,424 -2 -556,182 1,618 0 -546,758 -9,424 -2 -1,133,723 NET INCOME (LOSS)-455,924 -476,271 20,347 4 -455,781 -143 0 -455,924 20,347 4 -455,781 -143 0 -960,175 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 158 of 194178 EXHIBIT: Redwood - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 87,634 87,634 87,634 87,634 87,634 87,634 91,843 91,843 91,843 91,843 91,843 1,076,862 1,089,767 -12,905 -1 (Loss) Gain to Lease -9,785 -8,879 -8,591 -8,128 -7,550 -6,367 -10,637 -10,095 -10,095 -10,095 -10,095 -110,412 -122,908 12,496 -10 Less: Vacancies -218 -1,812 -4,139 -1,125 -1,849 -2,116 -2,755 -2,755 -2,755 -2,755 -2,755 -27,789 -32,692 4,903 -15 NET POTENTIAL RENT 77,631 76,943 74,904 78,381 78,235 79,151 78,451 78,993 78,993 78,993 78,993 938,661 934,167 4,494 0 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs 0 -24 0 -50 -25 0 0 0 0 0 0 -100 0 -100 N/A Less: Allowance for Doubtful Accounts -1,227 -1,227 -1,227 -1,227 -1,227 -1,227 -1,286 -1,286 -1,286 -1,286 -1,286 -15,076 -15,257 181 -1 Pet Rent 320 310 310 335 335 335 208 208 208 208 208 3,195 2,500 695 28 Add: Recoveries 0 0 0 0 395 0 0 0 0 0 0 395 0 395 N/A NET POTENTIAL RENT ADJUSTMENTS -907 -941 -917 -942 -522 -892 -1,077 -1,077 -1,077 -1,077 -1,077 -11,586 -12,757 1,171 -9 NET RENTAL INCOME 76,724 76,002 73,987 77,439 77,713 78,259 77,374 77,916 77,916 77,916 77,916 927,075 921,410 5,665 1 OTHER TENANT INCOME Late Charges 450 350 125 250 275 325 319 319 319 319 319 3,688 3,825 -138 -4 Legal Fees - Tenant 976 387 0 0 610 0 45 45 45 45 45 2,240 535 1,705 319 NSF Charges 50 0 0 25 0 50 4 4 4 4 4 150 50 100 200 Utility Reimb.-Tenant 0 141 206 104 0 574 71 71 71 71 71 1,453 857 596 70 Misc.Tenant Income 100 -325 25 125 50 0 -12 -12 -12 -12 -12 -96 -141 46 -32 Tenant Work Orders 581 1,544 634 3,546 0 5,753 469 469 469 469 469 14,870 5,626 9,244 164 TOTAL OTHER TENANT INCOME 2,157 2,096 990 4,050 935 6,702 896 896 896 896 896 22,305 10,752 11,554 107 EFFECTIVE GROSS INCOME 78,881 78,098 74,977 81,489 78,648 84,961 78,269 78,811 78,811 78,811 78,811 949,380 932,162 17,219 2 OTHER INCOME Interest Income - Unrestricted 436 398 825 435 400 726 754 754 754 754 754 7,742 9,044 -1,302 -14 TOTAL OTHER INCOME 436 398 825 435 400 726 754 754 754 754 754 7,742 9,044 -1,302 -14 TOTAL OPERATING REVENUE 79,317 78,496 75,802 81,924 79,048 85,687 79,023 79,565 79,565 79,565 79,565 957,122 941,206 15,917 2 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 8,665 8,665 6,932 6,932 6,932 6,932 8,665 8,665 8,665 8,665 8,665 97,052 103,985 6,933 7 Total Labor Expenses 8,665 8,665 6,932 6,932 6,932 6,932 8,665 8,665 8,665 8,665 8,665 97,052 103,985 6,933 7 Legal Expense Legal-Criminal Background Checks 0 21 264 113 304 0 0 0 0 0 0 702 0 -702 N/A Legal-Tenant Screening 0 0 5 0 0 0 100 100 100 100 100 605 1,200 595 50 12 Month Actual to Budget Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 159 of 194179 EXHIBIT: Redwood - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Redwood, LLLP - All (.vorttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Legal-General Expense 967 525 350 772 88 1,087 88 88 88 88 88 4,313 1,050 -3,263 -311 Total Legal Expense 967 546 619 885 392 1,087 188 188 188 188 188 5,621 2,250 -3,371 -150 Management Related Expense Property Management Expense 6,236 6,264 6,114 6,411 6,384 6,457 6,396 6,439 6,439 6,439 6,439 76,456 76,154 -303 0 Accounting/Bookkeeping Expense 7,016 7,047 6,879 7,213 7,182 7,264 7,195 7,244 7,244 7,244 7,244 86,013 85,673 -340 0 Total Management Related Expenses 13,252 13,310 12,993 13,624 13,565 13,721 13,591 13,683 13,683 13,683 13,683 162,470 161,827 -643 0 Other Administrative Expenses Mileage 89 300 247 -24 291 0 35 35 35 35 35 1,113 420 -693 -165 Auditing & Tax Services 88 88 2,109 1,538 877 877 858 858 858 858 858 10,724 10,296 -428 -4 Tax Credit Monitoring 0 0 0 0 0 0 0 0 0 0 6,285 6,285 6,285 0 0 Marketing 0 0 0 0 0 36 8 8 8 8 8 86 100 14 14 Resident Relocation 0 285 0 0 0 0 42 42 42 42 42 535 500 -35 -7 Security Services 0 0 0 0 -140 0 116 116 116 116 116 558 1,395 838 60 Miscellaneous Admin Expenses 12 92 0 0 10 46 0 0 0 0 0 159 0 -159 N/A Total Other Administrative Expenses 188 765 2,356 1,514 1,037 959 1,059 1,059 1,059 1,059 7,345 19,460 18,997 -463 -2 Technology Expenses Managed Services - Internal 904 904 904 904 904 904 904 904 904 904 904 10,845 10,842 -3 0 Telephone - Landline|Virtual 634 640 640 640 202 1,078 227 227 227 227 227 5,194 2,719 -2,475 -91 Internet Services 918 924 924 923 431 1,550 578 578 578 578 578 9,139 6,942 -2,198 -32 Cellular - Phones | Tablets 40 40 40 40 40 40 80 80 80 80 80 720 960 240 25 Total Technology Expenses 2,496 2,508 2,508 2,506 1,576 3,572 1,789 1,789 1,789 1,789 1,789 25,899 21,464 -4,435 -21 Compliance Expenses Compliance Services - Internal 590 590 590 590 590 590 590 590 590 590 590 7,080 7,079 0 0 Compliance Services - Consultants 105 70 35 35 0 0 42 42 42 42 42 495 500 5 1 Total Compliance Expenses 695 660 625 625 590 590 632 632 632 632 632 7,575 7,579 5 0 TOTAL ADMINISTRATIVE EXPENSES 26,263 26,454 26,033 26,086 24,093 26,861 25,923 26,015 26,015 26,015 32,300 318,075 316,101 -1,974 -1 GENERAL EXPENSES Resident Services Resident Services - Internal 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 28,800 28,800 0 0 Resident Services - External 144 144 0 0 0 0 0 0 0 0 0 288 0 -288 N/A Total Resident Services 2,544 2,544 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 2,400 29,088 28,800 -288 -1 Utilities Expense Water 3,020 2,934 3,065 3,289 0 5,005 4,453 4,453 4,453 3,053 3,954 42,135 43,140 1,005 2 Electricity 1,968 2,125 1,671 1,336 574 1,121 1,527 1,527 1,527 1,527 1,527 17,959 18,327 368 2 Electricity-Vacant Units 38 78 48 0 0 0 37 37 37 37 37 388 449 60 13 Gas 182 195 312 111 128 76 156 156 156 156 156 1,942 1,877 -65 -3 Gas-Vacant Units 0 0 0 0 0 0 28 28 28 28 28 171 341 171 50 Trash Removal Services 2,072 1,923 4,113 32 1,998 2,440 1,932 1,932 1,932 1,932 1,932 24,173 23,189 -984 -4 Total Utility Expenses 7,280 7,256 9,209 4,768 2,700 8,642 8,135 8,135 8,135 6,735 7,636 86,767 87,323 556 1 Maintenance Expenses HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 160 of 194180 EXHIBIT: Redwood - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Redwood, LLLP - All (.vorttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Maintenance - On Call 0 0 0 60 0 30 0 0 0 0 0 90 0 -90 N/A Total General Maint Expense 0 0 0 60 0 30 0 0 0 0 0 90 0 -90 N/A Supplies-Grounds 196 297 124 40 89 0 108 108 108 108 108 1,396 1,301 -95 -7 Supplies-Appliances 275 562 221 46 48 0 52 52 52 52 52 1,464 622 -842 -135 Supplies-Electrical 68 68 140 167 307 80 250 250 250 250 250 2,331 3,000 669 22 Supplies-Pest Control 2 0 0 0 0 0 1 1 1 1 1 10 16 6 37 Supplies-Janitorial 142 79 73 141 88 73 132 132 132 132 132 1,388 1,584 196 12 Supplies-General 0 0 6 19 26 40 0 0 0 0 0 90 0 -90 N/A Supplies-Plumbing 195 108 0 0 0 0 380 380 380 380 380 2,584 4,563 1,979 43 Supplies-Paint 0 0 0 0 10 0 0 0 0 0 0 10 0 -10 N/A Supplies-HVAC 212 0 0 0 0 47 302 302 302 302 302 2,071 3,625 1,554 43 Supplies-Doors 46 107 118 80 32 0 271 271 271 271 271 2,008 3,249 1,241 38 Supplies-Windows 0 0 45 0 0 0 151 151 151 151 151 949 1,808 859 48 Total Supplies | Materials 1,136 1,221 727 494 600 240 1,647 1,647 1,647 1,647 1,647 14,303 19,769 5,467 28 Contract-Work Orders - Internal 6,368 5,947 2,699 6,457 4,888 3,421 5,074 5,074 5,074 5,074 5,074 60,225 60,888 663 1 Contract-Preventative - Internal 1,650 1,650 1,650 1,650 1,650 1,650 1,650 1,650 1,650 1,650 1,650 19,800 19,800 0 0 Contract-System Services 1,848 3,819 0 0 0 3,199 500 0 0 0 0 9,366 4,600 -4,766 -104 Contract-Appliance 0 0 350 0 293 619 325 325 325 325 325 3,212 3,901 689 18 Contract-Roof|Gutter 845 0 0 0 0 0 0 0 0 0 0 845 0 -845 N/A Contract-Electrical 0 0 681 572 0 0 250 0 0 0 0 1,503 500 -1,003 -201 Contract-Pest Control 166 83 83 83 160 160 516 166 516 166 166 2,431 3,392 961 28 Contract-Flooring 0 0 0 0 0 0 0 956 0 0 0 956 956 0 0 Contract-Grounds 6,080 2,742 5,724 1,801 2,373 1,701 3,518 3,518 3,518 3,518 3,518 41,528 42,215 687 2 Contract-Janitorial 400 400 800 0 400 400 410 410 410 410 410 4,860 4,920 60 1 Contract-Plumbing 1,095 1,656 0 0 1,132 3,222 1,322 1,322 1,322 1,322 1,322 15,039 15,869 830 5 Contract-HVAC 0 0 0 0 895 2,012 0 671 0 0 0 4,731 4,107 -624 -15 Contract-Windows 0 0 0 0 0 0 0 0 0 357 0 357 357 0 0 Contract-General 235 738 649 114 1,045 531 1,458 1,458 1,458 1,458 1,637 12,420 28,498 16,078 56 Total Contract Costs 18,687 17,035 12,635 10,677 12,837 16,914 15,024 15,551 14,274 14,280 14,103 177,273 190,003 12,730 7 Total Maintenance Expenses - Core 19,823 18,257 13,362 11,231 13,436 17,184 16,671 17,199 15,921 15,928 15,750 191,666 209,772 18,106 9 Unit Turn-Work Order 1,412 1,998 722 1,169 829 0 850 850 850 850 850 11,230 10,200 -1,030 -10 Unit Turn-External 1,050 2,176 3,497 8,803 1,480 0 1,417 1,417 1,417 1,417 1,417 25,506 17,000 -8,506 -50 Unit Turn Materials 35 1,264 106 1,090 76 0 400 400 400 400 400 4,971 4,800 -171 -4 Total Unit Turn Costs 2,498 5,437 4,325 11,062 2,385 0 2,667 2,667 2,667 2,667 2,667 41,707 32,000 -9,707 -30 Total Maintenance Expenses 22,321 23,694 17,688 22,293 15,821 17,184 19,338 19,866 18,588 18,594 18,417 233,373 241,772 8,399 3 Insurance & Taxes Expenses Insurance - Property 4,742 4,642 4,642 4,642 4,025 4,518 3,805 3,805 3,805 3,805 3,805 50,041 45,660 -4,381 -10 Insurance - Liability 315 315 315 315 315 315 357 357 357 357 357 4,031 4,287 256 6 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 161 of 194181 EXHIBIT: Redwood - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Redwood, LLLP - All (.vorttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Insurance - Umbrella 466 466 466 466 466 466 473 473 473 473 473 5,638 5,679 41 1 Total Tax & Insurance Expenses 5,523 5,423 5,423 5,423 4,806 5,300 4,636 4,636 4,636 4,636 4,636 59,710 55,626 -4,084 -7 Other General Expenses Bank Fees 0 0 0 0 25 0 0 0 0 0 0 25 0 -25 N/A Office Supplies 0 67 90 51 26 0 64 64 64 64 64 618 768 150 20 Copier and Printer Usage | Supplies 47 47 47 47 49 49 43 43 43 43 43 541 511 -30 -6 Postage Usage | Supplies 0 0 0 0 0 0 11 11 0 0 0 94 127 33 26 Small Office Equipment 0 0 0 0 0 0 12 12 12 12 12 75 150 75 50 Total Other General Expenses 47 113 137 98 101 49 130 130 119 119 119 1,352 1,556 203 13 Reserve Allowances Reserve Account Funding Allowance 3,040 3,040 3,040 3,040 3,040 3,040 3,040 3,040 3,040 3,040 3,040 36,480 36,480 0 0 Total Reserve Allowances 3,040 3,040 3,040 3,040 3,040 3,040 3,040 3,040 3,040 3,040 3,040 36,480 36,480 0 0 TOTAL GENERAL EXPENSES 40,754 42,070 37,896 38,022 28,867 36,615 37,678 38,206 36,917 35,524 36,247 446,770 451,557 4,787 1 TOTAL DIRECT OPERATING EXPENSES 67,017 68,525 63,929 64,108 52,961 63,476 63,602 64,222 62,933 61,539 68,548 764,846 767,658 2,812 0 TOTAL OPERATING EXPENSES 67,017 68,525 63,929 64,108 52,961 63,476 63,602 64,222 62,933 61,539 68,548 764,846 767,658 2,812 0 NET OPERATING INCOME 12,300 9,971 11,873 17,816 26,087 22,211 15,422 15,344 16,632 18,026 11,017 192,277 173,548 18,729 11 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 21,853 21,853 21,853 21,853 21,853 21,853 22,546 22,546 22,546 22,546 22,546 266,394 270,558 4,163 2 Interest Expense - Hard Loans 8,120 8,366 7,307 7,811 7,794 8,037 7,762 8,004 7,715 7,955 7,682 94,541 94,538 -3 0 Interest Expense - Other 529 529 529 529 529 529 0 0 0 0 0 3,175 0 -3,175 N/A Interest Expense - Loan Fees 1,219 1,219 1,219 1,219 1,219 1,219 1,219 1,219 1,219 1,219 1,219 14,623 14,623 0 0 31,720 31,966 30,907 31,411 31,395 31,637 31,527 31,769 31,480 31,720 31,447 378,733 379,719 986 0 Depreciation - Buildings 50,676 50,676 50,676 50,676 50,676 50,676 50,676 50,676 50,676 50,676 50,676 608,110 608,110 0 0 Depreciation - Furn,Fix,Equip - Units 467 467 467 467 467 467 364 364 364 364 364 4,987 4,372 -615 -14 Depreciation - Furn,Fix,Equip - Common 400 400 400 400 400 400 284 284 284 284 284 4,099 3,405 -695 -20 Depreciation - Improvements 9,217 9,217 9,217 9,217 9,217 9,217 9,541 9,541 9,541 9,541 9,541 112,549 114,491 1,943 2 Amortization - Tax Credit Fees 432 432 432 432 432 432 432 432 432 432 432 5,178 5,178 0 0 61,191 61,191 61,191 61,191 61,191 61,191 61,296 61,296 61,296 61,296 61,296 734,923 735,556 633 0 TOTAL NON OPERATING EXPENSES 92,911 93,157 92,098 92,602 92,585 92,828 92,824 93,066 92,776 93,016 92,744 1,113,656 1,115,274 1,618 0 PARTNERSHIP INCOME(EXPENSES) Partnership Expenses 0 0 0 0 0 0 0 0 0 0 -18,448 -18,448 -18,448 0 0 TOTAL PARTNERSHIP INCOME(EXPENSES)0 0 0 0 0 0 0 0 0 0 -18,448 -18,448 -18,448 0 0 NET NON-OPERATING INCOME(EXPENSE)-92,911 -93,157 -92,098 -92,602 -92,585 -92,828 -92,824 -93,066 -92,776 -93,016 -111,192 -1,132,104 -1,133,723 1,618 0 NET INCOME (LOSS)-80,612 -83,186 -80,225 -74,786 -66,498 -70,618 -77,402 -77,722 -76,144 -74,990 -100,175 -939,828 -960,175 20,347 -2 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 162 of 194182 EXHIBIT: Shields - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 2,221,638 2,028,642 192,996 10 2,112,767 108,871 5 2,221,638 192,996 10 2,112,767 108,871 5 4,103,022 (Loss) Gain to Lease -166,157 -214,856 48,699 23 -133,857 -32,300 -24 -166,157 48,699 23 -133,857 -32,300 -24 -441,426 Less: Vacancies -175,317 -60,858 -114,459 -188 -80,593 -94,724 -118 -175,317 -114,459 -188 -80,593 -94,724 -118 -123,084 Less: Concessions -2,157 0 -2,157 N/A -1,471 -686 -47 -2,157 -2,157 N/A -1,471 -686 -47 0 NET POTENTIAL RENT 1,878,007 1,752,928 125,079 7 1,896,846 -18,839 -1 1,878,007 125,079 7 1,896,846 -18,839 -1 3,538,512 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -252 0 -252 N/A -97,482 97,230 100 -252 -252 N/A -97,482 97,230 100 0 Less: Allowance for Doubtful Accounts -74,897 -70,583 -4,314 -6 0 -74,897 N/A -74,897 -4,314 -6 0 -74,897 N/A -142,251 Pet Rent 3,407 3,804 -397 -10 4,078 -672 -16 3,407 -397 -10 4,078 -672 -16 7,608 Storage Rent 40,509 71,070 -30,561 -43 39,797 712 2 40,509 -30,561 -43 39,797 712 2 142,140 Add: Recoveries 4,611 0 4,611 N/A 0 4,611 N/A 4,611 4,611 N/A 0 4,611 N/A 0 NET POTENTIAL RENT ADJUSTMENTS -26,622 4,291 -30,913 -720 -53,607 26,985 50 -26,622 -30,913 -720 -53,607 26,985 50 7,497 NET RENTAL INCOME 1,851,385 1,757,219 94,166 5 1,843,239 8,146 0 1,851,385 94,166 5 1,843,239 8,146 0 3,546,009 OTHER TENANT INCOME Ancillary Income 1,371 3,125 -1,754 -56 697 674 97 1,371 -1,754 -56 697 674 97 6,250 Damages 30,294 25,467 4,827 19 62,785 -32,491 -52 30,294 4,827 19 62,785 -32,491 -52 50,934 Late Charges 5,477 5,068 409 8 6,050 -573 -9 5,477 409 8 6,050 -573 -9 10,137 Legal Fees - Tenant 6,646 2,813 3,833 136 5,516 1,130 20 6,646 3,833 136 5,516 1,130 20 5,626 NSF Charges 250 188 62 33 175 75 43 250 62 33 175 75 43 375 Utility Reimb.-Tenant 8,399 3,541 4,858 137 4,692 3,707 79 8,399 4,858 137 4,692 3,707 79 7,081 Misc.Tenant Income 3,325 5,712 -2,387 -42 1,682 1,642 98 3,325 -2,387 -42 1,682 1,642 98 11,424 Tenant Work Orders 32,879 1,652 31,227 1,891 895 31,983 3,572 32,879 31,227 1,891 895 31,983 3,572 3,303 TOTAL OTHER TENANT INCOME 88,640 47,565 41,075 86 82,492 6,148 7 88,640 41,075 86 82,492 6,148 7 95,131 EFFECTIVE GROSS INCOME 1,940,025 1,804,785 135,240 7 1,925,731 14,294 1 1,940,025 135,240 7 1,925,731 14,294 1 3,641,140 OTHER INCOME Miscellaneous Income 0 0 0 N/A 1,595 -1,595 -100 0 0 N/A 1,595 -1,595 -100 0 Interest Income - Unrestricted 22,270 25,867 -3,598 -14 25,608 -3,339 -13 22,270 -3,598 -14 25,608 -3,339 -13 51,735 TOTAL OTHER INCOME 22,270 25,867 -3,598 -14 27,203 -4,934 -18 22,270 -3,598 -14 27,203 -4,934 -18 51,735 Village on Shields, LLLP - All (.voshttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 163 of 194183 EXHIBIT: Shields - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Shields, LLLP - All (.voshttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is TOTAL OPERATING REVENUE 1,962,295 1,830,652 131,643 7 1,952,935 9,360 0 1,962,295 131,643 7 1,952,935 9,360 0 3,692,875 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 184,863 138,646 -46,216 -33 229,652 44,790 20 184,863 -46,216 -33 229,652 44,790 20 277,292 Total Labor Expenses 184,863 138,646 -46,216 -33 229,652 44,790 20 184,863 -46,216 -33 229,652 44,790 20 277,292 Legal Expense Legal-Criminal Background Checks 3,534 2,778 -756 -27 20 -3,514 -17,748 3,534 -756 -27 20 -3,514 -17,748 5,555 Legal-Tenant Screening 0 2,503 2,503 100 0 0 N/A 0 2,503 100 0 0 N/A 5,210 Legal-General Expense 18,649 8,181 -10,468 -128 13,476 -5,173 -38 18,649 -10,468 -128 13,476 -5,173 -38 12,590 Total Legal Expense 22,183 13,461 -8,722 -65 13,496 -8,687 -64 22,183 -8,722 -65 13,496 -8,687 -64 23,355 Management Related Expense Property Management Expense 158,280 151,852 -6,428 -4 155,171 -3,109 -2 158,280 -6,428 -4 155,171 -3,109 -2 306,441 Accounting/Bookkeeping Expense 59,355 56,944 -2,411 -4 58,189 -1,166 -2 59,355 -2,411 -4 58,189 -1,166 -2 114,915 Total Management Related Expenses 217,635 208,796 -8,839 -4 213,360 -4,275 -2 217,635 -8,839 -4 213,360 -4,275 -2 421,356 Other Administrative Expenses Staff Training & Conferences 0 0 0 N/A 841 841 100 0 0 N/A 841 841 100 0 Mileage 128 1,004 875 87 973 845 87 128 875 87 973 845 87 2,007 Auditing & Tax Services 5,576 5,148 -428 -8 5,050 -525 -10 5,576 -428 -8 5,050 -525 -10 10,296 Tax Credit Monitoring 0 11,673 11,673 100 3,075 3,075 100 0 11,673 100 3,075 3,075 100 23,346 Marketing 789 133 -656 -495 0 -789 N/A 789 -656 -495 0 -789 N/A 688 Resident Relocation 972 2,842 1,870 66 1,653 681 41 972 1,870 66 1,653 681 41 5,684 Parking Fees 25 0 -25 N/A 0 -25 N/A 25 -25 N/A 0 -25 N/A 0 Consultants 214 750 536 71 0 -214 N/A 214 536 71 0 -214 N/A 1,500 Security Services 1,929 13,809 11,880 86 6,705 4,776 71 1,929 11,880 86 6,705 4,776 71 27,617 Advertising 0 0 0 N/A 176 176 100 0 0 N/A 176 176 100 0 Miscellaneous Admin Expenses 358 0 -358 N/A 162 -195 -120 358 -358 N/A 162 -195 -120 0 Total Other Administrative Expenses 9,990 35,358 25,368 72 18,635 8,645 46 9,990 25,368 72 18,635 8,645 46 71,139 Technology Expenses Managed Services - Internal 14,454 14,456 2 0 24,207 9,753 40 14,454 2 0 24,207 9,753 40 28,913 Cable Services 0 194 194 100 0 0 N/A 0 194 100 0 0 N/A 387 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 164 of 194184 EXHIBIT: Shields - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Shields, LLLP - All (.voshttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Telephone - Landline|Virtual 885 1,938 1,053 54 637 -248 -39 885 1,053 54 637 -248 -39 3,876 Internet Services 3,873 2,594 -1,279 -49 3,734 -140 -4 3,873 -1,279 -49 3,734 -140 -4 5,189 Cellular - Phones | Tablets 548 0 -548 N/A 963 415 43 548 -548 N/A 963 415 43 0 Total Technology Expenses 19,761 19,182 -578 -3 29,541 9,780 33 19,761 -578 -3 29,541 9,780 33 38,365 Compliance Expenses Compliance Services - Internal 14,058 14,060 2 0 33,030 18,972 57 14,058 2 0 33,030 18,972 57 28,120 Compliance Services - Consultants 3,700 7,490 3,790 51 1,465 -2,235 -153 3,700 3,790 51 1,465 -2,235 -153 15,800 Total Compliance Expenses 17,758 21,550 3,792 18 34,495 16,737 49 17,758 3,792 18 34,495 16,737 49 43,920 TOTAL ADMINISTRATIVE EXPENSES 472,188 436,993 -35,196 -8 539,178 66,990 12 472,188 -35,196 -8 539,178 66,990 12 875,427 GENERAL EXPENSES Resident Services Resident Services - Internal 78,654 78,650 -4 0 165,700 87,046 53 78,654 -4 0 165,700 87,046 53 157,300 Resident Services - External 1,144 0 -1,144 N/A 0 -1,144 N/A 1,144 -1,144 N/A 0 -1,144 N/A 0 Total Resident Services 79,798 78,650 -1,148 -1 165,700 85,902 52 79,798 -1,148 -1 165,700 85,902 52 157,300 Utilities Expense Water 63,254 103,401 40,147 39 70,609 7,355 10 63,254 40,147 39 70,609 7,355 10 206,802 Electricity 13,189 18,643 5,453 29 17,222 4,033 23 13,189 5,453 29 17,222 4,033 23 37,285 Electricity-Vacant Units 5,723 1,479 -4,244 -287 1,096 -4,626 -422 5,723 -4,244 -287 1,096 -4,626 -422 2,958 Gas 4,034 2,018 -2,017 -100 1,334 -2,700 -202 4,034 -2,017 -100 1,334 -2,700 -202 4,035 Gas-Vacant Units 481 2,337 1,856 79 629 148 24 481 1,856 79 629 148 24 4,675 Trash Removal Services 21,290 25,280 3,990 16 22,442 1,152 5 21,290 3,990 16 22,442 1,152 5 50,678 Total Utility Expenses 107,971 153,157 45,186 30 113,333 5,361 5 107,971 45,186 30 113,333 5,361 5 306,433 Maintenance Expenses Maintenance - On Call 466 0 -466 N/A 0 -466 N/A 466 -466 N/A 0 -466 N/A 0 Equipment Rentals 181 0 -181 N/A 294 113 38 181 -181 N/A 294 113 38 0 Total General Maint Expense 647 0 -647 N/A 294 -353 -120 647 -647 N/A 294 -353 -120 0 Supplies-Grounds 2,944 6,954 4,010 58 3,573 629 18 2,944 4,010 58 3,573 629 18 13,907 Supplies-Appliances 7,650 3,539 -4,111 -116 4,837 -2,813 -58 7,650 -4,111 -116 4,837 -2,813 -58 7,078 Supplies-Electrical 4,908 2,248 -2,660 -118 22,787 17,879 78 4,908 -2,660 -118 22,787 17,879 78 4,388 Supplies-Pest Control 38 174 136 78 260 221 85 38 136 78 260 221 85 348 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 165 of 194185 EXHIBIT: Shields - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Shields, LLLP - All (.voshttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Supplies-Janitorial 1,676 3,197 1,521 48 1,841 165 9 1,676 1,521 48 1,841 165 9 6,393 Supplies-General 534 633 99 16 510 -24 -5 534 99 16 510 -24 -5 1,266 Supplies-Plumbing 2,147 3,127 981 31 2,373 226 10 2,147 981 31 2,373 226 10 6,254 Supplies-Paint 344 0 -344 N/A 4,391 4,047 92 344 -344 N/A 4,391 4,047 92 0 Supplies-HVAC 620 2,016 1,396 69 1,910 1,289 68 620 1,396 69 1,910 1,289 68 4,032 Supplies-Doors 2,837 4,321 1,484 34 3,937 1,100 28 2,837 1,484 34 3,937 1,100 28 8,643 Supplies-Windows 14 476 462 97 251 237 95 14 462 97 251 237 95 952 Total Supplies | Materials 23,712 26,685 2,973 11 46,668 22,957 49 23,712 2,973 11 46,668 22,957 49 53,262 Contract-Work Orders - Internal 80,447 74,959 -5,488 -7 108,514 28,067 26 80,447 -5,488 -7 108,514 28,067 26 149,918 Contract-Preventative - Internal 31,098 31,100 2 0 72,042 40,944 57 31,098 2 0 72,042 40,944 57 62,200 Contract-Inspections Services 200 0 -200 N/A 0 -200 N/A 200 -200 N/A 0 -200 N/A 0 Contract-System Services 5,805 4,462 -1,342 -30 2,560 -3,245 -127 5,805 -1,342 -30 2,560 -3,245 -127 8,669 Contract-Appliance 4,492 5,331 839 16 5,318 826 16 4,492 839 16 5,318 826 16 10,662 Contract-Carpet Cleaning 312 468 156 33 105 -207 -197 312 156 33 105 -207 -197 1,431 Contract-Electrical 2,973 1,576 -1,397 -89 1,367 -1,606 -117 2,973 -1,397 -89 1,367 -1,606 -117 3,850 Contract-Pest Control 8,026 6,072 -1,954 -32 4,935 -3,091 -63 8,026 -1,954 -32 4,935 -3,091 -63 12,144 Contract-Flooring 234 901 668 74 1,157 923 80 234 668 74 1,157 923 80 1,063 Contract-Grounds 78,480 95,667 17,187 18 79,490 1,010 1 78,480 17,187 18 79,490 1,010 1 191,333 Contract-Janitorial 3,900 3,978 78 2 3,900 0 0 3,900 78 2 3,900 0 0 7,956 Contract-Plumbing 13,029 10,371 -2,658 -26 9,893 -3,136 -32 13,029 -2,658 -26 9,893 -3,136 -32 20,944 Contract-HVAC 7,535 4,138 -3,397 -82 4,159 -3,376 -81 7,535 -3,397 -82 4,159 -3,376 -81 8,556 Contract-Windows 474 411 -63 -15 85 -389 -457 474 -63 -15 85 -389 -457 822 Contract-Elevators 448 853 405 47 423 -25 -6 448 405 47 423 -25 -6 1,705 Contract-Alarms 0 497 497 100 0 0 N/A 0 497 100 0 0 N/A 995 Contract-General 17,545 30,914 13,368 43 19,441 1,896 10 17,545 13,368 43 19,441 1,896 10 39,254 Total Contract Costs 254,998 271,699 16,701 6 313,389 58,391 19 254,998 16,701 6 313,389 58,391 19 521,503 Total Maintenance Expenses - Core 279,356 298,383 19,027 6 360,351 80,995 22 279,356 19,027 6 360,351 80,995 22 574,764 Unit Turn-Work Order 37,390 20,910 -16,480 -79 20,625 -16,765 -81 37,390 -16,480 -79 20,625 -16,765 -81 41,820 Unit Turn-External 78,723 34,850 -43,873 -126 43,727 -34,996 -80 78,723 -43,873 -126 43,727 -34,996 -80 69,700 Unit Turn Materials 10,596 9,840 -756 -8 0 -10,596 N/A 10,596 -756 -8 0 -10,596 N/A 19,680 Total Unit Turn Costs 126,709 65,600 -61,109 -93 64,352 -62,357 -97 126,709 -61,109 -93 64,352 -62,357 -97 131,200 Reasonable Accomodations Reasonable Accom - Supplies 0 0 0 N/A 1,530 1,530 100 0 0 N/A 1,530 1,530 100 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 166 of 194186 EXHIBIT: Shields - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Shields, LLLP - All (.voshttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Reasonable Accomodations 0 0 0 N/A 1,530 1,530 100 0 0 N/A 1,530 1,530 100 0 Total Maintenance Expenses 406,065 363,983 -42,082 -12 426,234 20,168 5 406,065 -42,082 -12 426,234 20,168 5 705,964 Vehicle-Fuel 48 0 -48 N/A 0 -48 N/A 48 -48 N/A 0 -48 N/A 0 Total Vehicle Expenses 48 0 -48 N/A 0 -48 N/A 48 -48 N/A 0 -48 N/A 0 Insurance & Taxes Expenses Insurance - Property 90,693 78,100 -12,593 -16 107,459 16,766 16 90,693 -12,593 -16 107,459 16,766 16 156,201 Insurance - Liability 7,509 8,284 775 9 0 -7,509 N/A 7,509 775 9 0 -7,509 N/A 16,569 Insurance - Umbrella 6,801 8,456 1,655 20 0 -6,801 N/A 6,801 1,655 20 0 -6,801 N/A 16,911 Total Tax & Insurance Expenses 105,003 94,840 -10,163 -11 107,459 2,456 2 105,003 -10,163 -11 107,459 2,456 2 189,681 Other General Expenses Membership and Fees 601 379 -222 -59 601 0 0 601 -222 -59 601 0 0 758 Bank Fees 0 8 8 100 825 825 100 0 8 100 825 825 100 15 Filing Fees 25 51 26 51 10 -15 -150 25 26 51 10 -15 -150 102 Office Supplies 1,615 3,488 1,872 54 1,255 -360 -29 1,615 1,872 54 1,255 -360 -29 6,975 Copier and Printer Usage | Supplies 2,139 1,205 -934 -78 1,583 -556 -35 2,139 -934 -78 1,583 -556 -35 2,410 Postage Usage | Supplies 60 732 672 92 412 353 86 60 672 92 412 353 86 1,464 Meetings Expenses 0 0 0 N/A 8 8 100 0 0 N/A 8 8 100 0 Miscellaneous General Expense 0 3,984 3,984 100 0 0 N/A 0 3,984 100 0 0 N/A 3,984 Total Other General Expenses 4,441 9,846 5,405 55 4,695 254 5 4,441 5,405 55 4,695 254 5 15,708 Reserve Allowances Reserve Account Funding Allowance 54,858 53,258 -1,600 -3 53,258 -1,600 -3 54,858 -1,600 -3 53,258 -1,600 -3 106,516 Total Reserve Allowances 54,858 53,258 -1,600 -3 53,258 -1,600 -3 54,858 -1,600 -3 53,258 -1,600 -3 106,516 TOTAL GENERAL EXPENSES 758,184 753,735 -4,449 -1 870,678 112,494 13 758,184 -4,449 -1 870,678 112,494 13 1,481,602 TOTAL DIRECT OPERATING EXPENSES 1,230,373 1,190,728 -39,645 -3 1,409,856 179,484 13 1,230,373 -39,645 -3 1,409,856 179,484 13 2,357,029 TOTAL OPERATING EXPENSES 1,230,373 1,190,728 -39,645 -3 1,409,856 179,484 13 1,230,373 -39,645 -3 1,409,856 179,484 13 2,357,029 NET OPERATING INCOME 731,922 639,924 91,998 14 543,078 188,844 35 731,922 91,998 14 543,078 188,844 35 1,335,845 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 167 of 194187 EXHIBIT: Shields - Budget Comp PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Village on Shields, LLLP - All (.voshttl) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Interest Expense - Soft Loans 264,248 264,248 0 0 258,972 -5,276 -2 264,248 0 0 258,972 -5,276 -2 528,497 Interest Expense - Hard Loans 409,571 407,966 -1,605 0 415,636 6,065 1 409,571 -1,605 0 415,636 6,065 1 815,932 Interest Expense - Loan Fees 16,823 16,823 0 0 16,823 0 0 16,823 0 0 16,823 0 0 33,646 690,642 689,038 -1,605 0 691,431 789 0 690,642 -1,605 0 691,431 789 0 1,378,075 Depreciation - Buildings 991,326 991,326 0 0 991,326 0 0 991,326 0 0 991,326 0 0 1,982,652 Depreciation - Furn,Fix,Equip - Units 37,579 0 -37,579 N/A 18,618 -18,962 -102 37,579 -37,579 N/A 18,618 -18,962 -102 0 Depreciation - Furn,Fix,Equip - Common 0 3,779 3,779 100 0 0 N/A 0 3,779 100 0 0 N/A 7,559 Depreciation - Improvements 102,910 103,510 601 1 102,894 -16 0 102,910 601 1 102,894 -16 0 207,021 Amortization - Tax Credit Fees 11,958 11,958 0 0 11,958 0 0 11,958 0 0 11,958 0 0 23,916 1,143,773 1,110,574 -33,199 -3 1,124,795 -18,978 -2 1,143,773 -33,199 -3 1,124,795 -18,978 -2 2,221,148 TOTAL NON OPERATING EXPENSES 1,834,415 1,799,612 -34,804 -2 1,816,226 -18,189 -1 1,834,415 -34,804 -2 1,816,226 -18,189 -1 3,599,223 PARTNERSHIP INCOME(EXPENSES) Partnership - Management Fee Expense -3,992 0 -3,992 N/A 0 -3,992 N/A -3,992 -3,992 N/A 0 -3,992 N/A 0 TOTAL PARTNERSHIP INCOME(EXPENSES)-3,992 0 -3,992 N/A 0 -3,992 N/A -3,992 -3,992 N/A 0 -3,992 N/A 0 NET NON-OPERATING INCOME(EXPENSE)-1,838,407 -1,799,612 -38,796 -2 -1,816,226 -22,181 -1 -1,838,407 -38,796 -2 -1,816,226 -22,181 -1 -3,599,223 NET INCOME (LOSS)-1,106,485 -1,159,687 53,202 5 -1,273,148 166,663 13 -1,106,485 53,202 5 -1,273,148 166,663 13 -2,263,378 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 168 of 194188 EXHIBIT: Shields - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 370,273 370,273 370,273 370,273 370,273 370,273 345,730 345,730 345,730 345,730 345,730 4,296,018 4,103,022 192,996 5 (Loss) Gain to Lease -31,061 -29,408 -27,800 -28,496 -26,039 -23,353 -39,705 -37,373 -37,373 -37,373 -37,373 -392,727 -441,426 48,699 -11 Less: Vacancies -25,399 -30,568 -36,952 -36,181 -23,092 -23,125 -10,371 -10,371 -10,371 -10,371 -10,371 -237,543 -123,084 -114,459 93 Less: Concessions 0 0 -121 -510 -594 -932 0 0 0 0 0 -2,157 0 -2,157 N/A NET POTENTIAL RENT 313,813 310,297 305,400 305,086 320,548 322,863 295,654 297,986 297,986 297,986 297,986 3,663,591 3,538,512 125,079 4 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -50 -27 -25 -25 -100 -25 0 0 0 0 0 -252 0 -252 N/A Less: Allowance for Doubtful Accounts -12,483 -12,483 -12,483 -12,483 -12,483 -12,483 -11,945 -11,945 -11,945 -11,945 -11,945 -146,565 -142,251 -4,314 3 Pet Rent 610 535 494 528 645 595 634 634 634 634 634 7,211 7,608 -397 -5 Storage Rent 6,508 6,464 6,633 6,668 7,315 6,921 11,845 11,845 11,845 11,845 11,845 111,579 142,140 -30,561 -22 Add: Recoveries 777 1,583 152 152 574 1,375 0 0 0 0 0 4,611 0 4,611 N/A NET POTENTIAL RENT ADJUSTMENTS -4,638 -3,927 -5,230 -5,160 -4,049 -3,617 534 534 534 534 534 -23,416 7,497 -30,913 -412 NET RENTAL INCOME 309,175 306,370 300,170 299,926 316,499 319,246 296,188 298,520 298,520 298,520 298,520 3,640,175 3,546,009 94,166 3 OTHER TENANT INCOME Ancillary Income 0 687 0 0 0 685 521 521 521 521 521 4,496 6,250 -1,754 -28 Damages 587 7,778 13,821 0 0 8,107 4,245 4,245 4,245 4,245 4,245 55,761 50,934 4,827 9 Late Charges 1,200 1,102 550 725 1,100 800 845 845 845 845 845 10,545 10,137 409 4 Legal Fees - Tenant 1,145 672 2,000 950 1,879 0 469 469 469 469 469 9,459 5,626 3,833 68 NSF Charges 100 125 25 0 0 0 31 31 31 31 31 438 375 62 17 Utility Reimb.-Tenant 1,178 2,673 1,646 986 989 927 590 590 590 590 590 11,939 7,081 4,858 69 Misc.Tenant Income 250 560 475 600 650 790 952 952 952 952 952 9,037 11,424 -2,387 -21 Tenant Work Orders 1,592 1,667 4,739 12,932 10,480 1,469 275 275 275 275 275 34,530 3,303 31,227 945 TOTAL OTHER TENANT INCOME 6,052 15,264 23,255 16,193 15,097 12,778 7,928 7,928 7,928 7,928 7,928 136,205 95,131 41,075 43 EFFECTIVE GROSS INCOME 315,227 321,633 323,425 316,119 331,596 332,023 304,116 306,448 306,448 306,448 306,448 3,776,380 3,641,140 135,240 4 OTHER INCOME Interest Income - Unrestricted 3,783 3,426 3,799 3,701 3,709 3,852 4,311 4,311 4,311 4,311 4,311 48,137 51,735 -3,598 -7 TOTAL OTHER INCOME 3,783 3,426 3,799 3,701 3,709 3,852 4,311 4,311 4,311 4,311 4,311 48,137 51,735 -3,598 -7 TOTAL OPERATING REVENUE 319,010 325,060 327,224 319,820 335,305 335,876 308,427 310,759 310,759 310,759 310,759 3,824,517 3,692,875 131,643 4 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 23,108 23,108 34,662 34,662 34,662 34,662 23,108 23,108 23,108 23,108 23,108 323,509 277,292 -46,216 -17 12 Month Actual to Budget Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 169 of 194189 EXHIBIT: Shields - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Shields, LLLP - All (.voshttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Labor Expenses 23,108 23,108 34,662 34,662 34,662 34,662 23,108 23,108 23,108 23,108 23,108 323,509 277,292 -46,216 -17 Legal Expense Legal-Criminal Background Checks 0 430 632 840 1,068 564 463 463 463 463 463 6,312 5,555 -756 -14 Legal-Tenant Screening 0 0 0 0 0 0 520 780 315 345 375 2,708 5,210 2,503 48 Legal-General Expense 3,928 5,276 2,442 1,337 3,692 1,973 608 608 964 805 608 23,058 12,590 -10,468 -83 Total Legal Expense 3,928 5,706 3,074 2,177 4,759 2,538 1,592 1,852 1,742 1,614 1,447 32,077 23,355 -8,722 -37 Management Related Expense Property Management Expense 25,218 26,386 25,955 25,939 27,365 27,416 25,609 25,796 25,796 25,796 25,796 312,869 306,441 -6,428 -2 Accounting/Bookkeeping Expense 9,457 9,895 9,733 9,727 10,262 10,281 9,604 9,674 9,674 9,674 9,674 117,326 114,915 -2,411 -2 Total Management Related Expenses 34,675 36,281 35,688 35,666 37,627 37,697 35,213 35,469 35,469 35,469 35,469 430,195 421,356 -8,839 -2 Other Administrative Expenses Mileage 0 0 0 83 46 0 167 167 167 167 167 1,132 2,007 875 44 Auditing & Tax Services 88 88 2,109 1,538 877 877 858 858 858 858 858 10,724 10,296 -428 -4 Tax Credit Monitoring 0 0 0 0 0 0 2,946 1,446 2,946 1,446 1,446 11,673 23,346 11,673 50 Marketing 0 0 140 0 0 649 22 22 22 22 22 1,344 688 -656 -95 Resident Relocation 0 0 0 0 1,472 -500 474 474 474 474 474 3,814 5,684 1,870 33 Parking Fees 25 0 0 0 0 0 0 0 0 0 0 25 0 -25 N/A Consultants 0 0 214 0 0 0 125 125 125 125 125 964 1,500 536 36 Security Services 0 420 54 495 960 0 2,301 2,301 2,301 2,301 2,301 15,738 27,617 11,880 43 Miscellaneous Admin Expenses 0 330 0 0 28 0 0 0 0 0 0 358 0 -358 N/A Total Other Administrative Expenses 112 838 2,517 2,116 3,382 1,025 6,893 5,393 6,893 5,393 5,393 45,771 71,139 25,368 36 Technology Expenses Managed Services - Internal 2,409 2,409 2,409 2,409 2,409 2,409 2,409 2,409 2,409 2,409 2,409 28,910 28,913 2 0 Cable Services 0 0 0 0 0 0 32 32 32 32 32 194 387 194 50 Telephone - Landline|Virtual 185 186 186 186 71 71 323 323 323 323 323 2,823 3,876 1,053 27 Internet Services 623 628 653 671 640 657 432 432 432 432 432 6,468 5,189 -1,279 -25 Cellular - Phones | Tablets 140 140 140 140 -12 0 0 0 0 0 0 548 0 -548 N/A Total Technology Expenses 3,356 3,364 3,389 3,406 3,108 3,137 3,197 3,197 3,197 3,197 3,197 38,943 38,365 -578 -2 Compliance Expenses Compliance Services - Internal 2,343 2,343 2,343 2,343 2,343 2,343 2,343 2,343 2,343 2,343 2,343 28,118 28,120 2 0 Compliance Services - Consultants 325 595 850 170 1,470 290 1,523 2,308 1,058 1,013 1,283 12,010 15,800 3,790 24 Total Compliance Expenses 2,668 2,938 3,193 2,513 3,813 2,633 3,867 4,652 3,402 3,357 3,627 40,128 43,920 3,792 9 TOTAL ADMINISTRATIVE EXPENSES 67,848 72,234 82,522 80,540 87,351 81,692 73,869 73,671 73,811 72,138 72,241 910,623 875,427 -35,196 -4 GENERAL EXPENSES Resident Services Resident Services - Internal 13,109 13,109 13,109 13,109 13,109 13,109 13,108 13,108 13,108 13,108 13,108 157,304 157,300 -4 0 Resident Services - External 572 572 0 0 0 0 0 0 0 0 0 1,144 0 -1,144 N/A Total Resident Services 13,681 13,681 13,109 13,109 13,109 13,109 13,108 13,108 13,108 13,108 13,108 158,448 157,300 -1,148 -1 Utilities Expense Water 10,075 9,981 10,281 10,572 11,145 11,200 17,234 17,234 17,234 17,234 17,234 166,655 206,802 40,147 19 Electricity 2,020 2,894 2,180 2,058 1,993 2,044 3,107 3,107 3,107 3,107 3,107 31,832 37,285 5,453 15 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 170 of 194190 EXHIBIT: Shields - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Shields, LLLP - All (.voshttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Electricity-Vacant Units 652 2,669 716 823 0 862 246 246 246 246 246 7,202 2,958 -4,244 -143 Gas 618 906 895 1,092 275 249 336 336 336 336 336 6,052 4,035 -2,017 -50 Gas-Vacant Units 17 0 96 83 0 284 390 390 390 390 390 2,818 4,675 1,856 40 Trash Removal Services 3,496 3,565 3,629 3,500 3,563 3,537 4,755 4,473 4,742 3,485 3,452 46,688 50,678 3,990 8 Total Utility Expenses 16,878 20,015 17,798 18,128 16,976 18,176 26,067 25,786 26,055 24,798 24,765 261,247 306,433 45,186 15 Maintenance Expenses Maintenance - On Call 0 0 0 346 0 119 0 0 0 0 0 466 0 -466 N/A Equipment Rentals 0 0 86 0 0 95 0 0 0 0 0 181 0 -181 N/A Total General Maint Expense 0 0 86 346 0 214 0 0 0 0 0 647 0 -647 N/A Supplies-Grounds 444 929 418 294 859 0 1,159 1,159 1,159 1,159 1,159 9,897 13,907 4,010 29 Supplies-Appliances 891 938 2,229 1,391 980 1,221 590 590 590 590 590 11,189 7,078 -4,111 -58 Supplies-Electrical 2 534 845 1,566 1,151 810 375 375 375 375 267 7,048 4,388 -2,660 -61 Supplies-Pest Control 20 0 12 6 0 0 29 29 29 29 29 212 348 136 39 Supplies-Janitorial 290 174 225 500 229 257 533 533 533 533 533 4,872 6,393 1,521 24 Supplies-General 0 0 76 89 62 307 106 106 106 106 106 1,167 1,266 99 8 Supplies-Plumbing 476 321 549 214 212 375 521 521 521 521 521 5,274 6,254 981 16 Supplies-Paint 0 49 11 132 101 51 0 0 0 0 0 344 0 -344 N/A Supplies-HVAC 0 620 0 0 0 0 236 236 236 236 236 2,636 4,032 1,396 35 Supplies-Doors 369 818 200 682 139 630 720 720 720 720 720 7,159 8,643 1,484 17 Supplies-Windows 0 14 0 0 0 0 79 79 79 79 79 489 952 462 49 Total Supplies | Materials 2,491 4,398 4,563 4,874 3,733 3,652 4,347 4,347 4,347 4,347 4,239 50,289 53,262 2,973 6 Contract-Work Orders - Internal 16,172 11,297 11,475 20,260 11,858 9,386 12,493 12,493 12,493 12,493 12,493 155,406 149,918 -5,488 -4 Contract-Preventative - Internal 5,183 5,183 5,183 5,183 5,183 5,183 5,183 5,183 5,183 5,183 5,183 62,198 62,200 2 0 Contract-Inspections Services 0 0 200 0 0 0 0 0 0 0 0 200 0 -200 N/A Contract-System Services 143 143 0 1,045 0 4,474 2,289 384 384 384 384 10,012 8,669 -1,342 -15 Contract-Appliance 208 625 0 1,539 1,363 757 1,212 726 1,212 726 726 9,823 10,662 839 8 Contract-Carpet Cleaning 0 0 147 0 165 0 0 399 194 0 238 1,275 1,431 156 11 Contract-Electrical 1,239 383 302 569 216 264 371 646 179 0 450 5,247 3,850 -1,397 -36 Contract-Pest Control 1,131 2,073 1,391 1,918 463 1,050 1,712 662 1,712 662 662 14,098 12,144 -1,954 -16 Contract-Flooring 0 0 234 0 0 0 0 0 161 0 0 395 1,063 668 63 Contract-Grounds 11,006 18,079 25,294 7,350 6,776 9,975 15,944 15,944 15,944 15,944 15,944 174,147 191,333 17,187 9 Contract-Janitorial 650 650 1,300 0 650 650 663 663 663 663 663 7,878 7,956 78 1 Contract-Plumbing 270 2,459 3,530 1,300 1,963 3,507 2,145 2,173 1,768 1,457 1,457 23,602 20,944 -2,658 -13 Contract-HVAC 0 1,548 1,681 867 1,774 1,664 1,100 334 1,438 607 300 11,952 8,556 -3,397 -40 Contract-Windows 474 0 0 0 0 0 68 68 68 68 68 885 822 -63 -8 Contract-Elevators 0 0 0 0 0 448 142 142 142 142 142 1,300 1,705 405 24 Contract-Alarms 0 0 0 0 0 0 83 83 83 83 83 498 995 497 50 Contract-General 2,444 500 8,495 1,847 1,855 2,404 2,267 847 1,409 1,978 867 25,885 39,254 13,368 34 Total Contract Costs 38,919 42,940 59,232 41,878 32,266 39,763 45,674 40,748 43,035 40,391 39,660 504,802 521,503 16,701 3 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 171 of 194191 EXHIBIT: Shields - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Shields, LLLP - All (.voshttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Maintenance Expenses - Core 41,411 47,338 63,881 47,099 35,999 43,630 50,021 45,095 47,383 44,739 43,900 555,737 574,764 19,027 3 Unit Turn-Work Order 5,494 5,886 6,120 6,439 6,375 7,076 3,485 3,485 3,485 3,485 3,485 58,300 41,820 -16,480 -39 Unit Turn-External 13,194 10,815 14,178 13,111 14,547 12,879 5,808 5,808 5,808 5,808 5,808 113,573 69,700 -43,873 -63 Unit Turn Materials 355 4,046 727 2,572 428 2,468 1,640 1,640 1,640 1,640 1,640 20,436 19,680 -756 -4 Total Unit Turn Costs 19,043 20,747 21,025 22,122 21,349 22,423 10,933 10,933 10,933 10,933 10,933 192,309 131,200 -61,109 -47 Total Maintenance Expenses 60,453 68,084 84,906 69,221 57,348 66,052 60,955 56,029 58,316 55,672 54,833 748,046 705,964 -42,082 -6 Vehicle-Fuel 48 0 0 0 0 0 0 0 0 0 0 48 0 -48 N/A Total Vehicle Expenses 48 0 0 0 0 0 0 0 0 0 0 48 0 -48 N/A Insurance & Taxes Expenses Insurance - Property 18,991 18,991 19,325 19,325 17,167 -3,106 13,017 13,017 13,017 13,017 13,017 168,794 156,201 -12,593 -8 Insurance - Liability 1,252 1,252 1,252 1,252 1,252 1,252 1,381 1,381 1,381 1,381 1,381 15,794 16,569 775 5 Insurance - Umbrella 1,133 1,133 1,133 1,133 1,133 1,133 1,409 1,409 1,409 1,409 1,409 15,256 16,911 1,655 10 Total Tax & Insurance Expenses 21,376 21,376 21,710 21,710 19,552 -721 15,807 15,807 15,807 15,807 15,807 199,844 189,681 -10,163 -5 Other General Expenses Membership and Fees 0 0 0 0 601 0 63 63 63 63 63 980 758 -222 -29 Bank Fees 0 0 0 0 0 0 1 1 1 1 1 8 15 8 50 Filing Fees 0 0 0 0 25 0 8 8 8 8 8 76 102 26 25 Office Supplies 0 310 46 341 390 527 581 581 581 581 581 5,103 6,975 1,872 27 Copier and Printer Usage | Supplies 520 383 453 233 275 276 201 201 201 201 201 3,344 2,410 -934 -39 Postage Usage | Supplies 10 14 8 8 8 12 122 122 122 122 122 792 1,464 672 46 Miscellaneous General Expense 0 0 0 0 0 0 0 0 0 0 0 0 3,984 3,984 100 Total Other General Expenses 530 707 508 582 1,300 815 977 977 977 977 977 10,303 15,708 5,405 34 Reserve Allowances Reserve Account Funding Allowance 9,143 9,143 9,143 9,143 9,143 9,143 8,876 8,876 8,876 8,876 8,876 108,116 106,516 -1,600 -2 Total Reserve Allowances 9,143 9,143 9,143 9,143 9,143 9,143 8,876 8,876 8,876 8,876 8,876 108,116 106,516 -1,600 -2 TOTAL GENERAL EXPENSES 122,109 133,007 147,173 131,893 117,427 106,574 125,791 120,583 123,140 119,238 118,366 1,486,051 1,481,602 -4,449 0 TOTAL DIRECT OPERATING EXPENSES 189,957 205,241 229,695 212,433 204,779 188,267 199,660 194,254 196,950 191,376 190,607 2,396,674 2,357,029 -39,645 -2 TOTAL OPERATING EXPENSES 189,957 205,241 229,695 212,433 204,779 188,267 199,660 194,254 196,950 191,376 190,607 2,396,674 2,357,029 -39,645 -2 NET OPERATING INCOME 129,053 119,818 97,529 107,387 130,527 147,609 108,767 116,505 113,809 119,384 120,152 1,427,843 1,335,845 91,998 7 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Interest Expense - Soft Loans 44,041 44,041 44,041 44,041 44,041 44,041 44,041 44,041 44,041 44,041 44,041 528,497 528,497 0 0 Interest Expense - Hard Loans 68,477 68,392 68,306 68,219 68,132 68,045 67,994 67,994 67,994 67,994 67,994 817,537 815,932 -1,605 0 Interest Expense - Loan Fees 2,804 2,804 2,804 2,804 2,804 2,804 2,804 2,804 2,804 2,804 2,804 33,646 33,646 0 0 115,323 115,237 115,151 115,064 114,977 114,890 114,840 114,840 114,840 114,840 114,840 1,379,680 1,378,075 -1,605 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 172 of 194192 EXHIBIT: Shields - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Village on Shields, LLLP - All (.voshttl) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Depreciation - Buildings 165,221 165,221 165,221 165,221 165,221 165,221 165,221 165,221 165,221 165,221 165,221 1,982,652 1,982,652 0 0 Depreciation - Furn,Fix,Equip - Units 6,216 6,273 6,273 6,273 6,273 6,273 0 0 0 0 0 37,579 0 -37,579 N/A Depreciation - Furn,Fix,Equip - Common 0 0 0 0 0 0 630 630 630 630 630 3,780 7,559 3,779 50 Depreciation - Improvements 17,152 17,152 17,152 17,152 17,152 17,152 17,252 17,252 17,252 17,252 17,252 206,420 207,021 601 0 Amortization - Tax Credit Fees 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 1,993 23,916 23,916 0 0 190,582 190,638 190,638 190,638 190,638 190,638 185,096 185,096 185,096 185,096 185,096 2,254,347 2,221,148 -33,199 -1 TOTAL NON OPERATING EXPENSES 305,904 305,875 305,789 305,703 305,616 305,529 299,935 299,935 299,935 299,935 299,935 3,634,027 3,599,223 -34,804 -1 PARTNERSHIP INCOME(EXPENSES) Partnership - Management Fee Expense -3,167 0 0 0 -825 0 0 0 0 0 0 -3,992 0 -3,992 N/A TOTAL PARTNERSHIP INCOME(EXPENSES)-3,167 0 0 0 -825 0 0 0 0 0 0 -3,992 0 -3,992 N/A NET NON-OPERATING INCOME(EXPENSE)-309,071 -305,875 -305,789 -305,703 -306,441 -305,529 -299,935 -299,935 -299,935 -299,935 -299,935 -3,638,019 -3,599,223 -38,796 1 NET INCOME (LOSS)-180,019 -186,057 -208,260 -198,316 -175,914 -157,919 -191,168 -183,430 -186,127 -180,552 -179,783 -2,210,175 -2,263,378 53,202 -2 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 173 of 194193 EXHIBIT: Budget Comparison|Villages, Ltd PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 2,034,009 2,095,189 -61,180 -3 2,021,290 12,719 1 2,034,009 -61,180 -3 2,021,290 12,719 1 4,237,051 (Loss) Gain to Lease -85,415 -154,666 69,251 45 -65,189 -20,226 -31 -85,415 69,251 45 -65,189 -20,226 -31 -333,950 Tenant Base Rent 68 0 68 N/A 0 68 N/A 68 68 N/A 0 68 N/A 0 Less: Vacancies -138,569 -64,829 -73,740 -114 -58,265 -80,304 -138 -138,569 -73,740 -114 -58,265 -80,304 -138 -131,209 Less: Concessions -175 0 -175 N/A 0 -175 N/A -175 -175 N/A 0 -175 N/A 0 Less: Prepaid Rents -7 0 -7 N/A 0 -7 N/A -7 -7 N/A 0 -7 N/A 0 NET POTENTIAL RENT 1,809,911 1,875,693 -65,782 -4 1,897,836 -87,925 -5 1,809,911 -65,782 -4 1,897,836 -87,925 -5 3,771,892 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -775 0 -775 N/A -45,272 44,497 98 -775 -775 N/A -45,272 44,497 98 0 Less: Allowance for Doubtful Accounts -38,206 -40,240 2,034 5 0 -38,206 N/A -38,206 2,034 5 0 -38,206 N/A -81,368 Pet Rent 2,674 1,020 1,654 162 2,870 -196 -7 2,674 1,654 162 2,870 -196 -7 2,040 Storage Rent 1,800 0 1,800 N/A 1,800 0 0 1,800 1,800 N/A 1,800 0 0 0 Add: Recoveries 1,502 0 1,502 N/A 0 1,502 N/A 1,502 1,502 N/A 0 1,502 N/A 0 Repayment Agreement 1 75 0 75 N/A 0 75 N/A 75 75 N/A 0 75 N/A 0 NET POTENTIAL RENT ADJUSTMENTS -32,929 -39,220 6,290 16 -40,602 7,673 19 -32,929 6,290 16 -40,602 7,673 19 -79,328 NET RENTAL INCOME 1,776,981 1,836,473 -59,492 -3 1,857,234 -80,252 -4 1,776,981 -59,492 -3 1,857,234 -80,252 -4 3,692,564 OTHER TENANT INCOME Ancillary Income 1,467 2,436 -969 -40 2,897 -1,430 -49 1,467 -969 -40 2,897 -1,430 -49 4,873 Late Charges 6,491 5,925 566 10 6,030 461 8 6,491 566 10 6,030 461 8 11,850 Legal Fees - Tenant 9,632 1,514 8,118 536 1,746 7,886 452 9,632 8,118 536 1,746 7,886 452 3,028 NSF Charges 250 312 -62 -20 325 -75 -23 250 -62 -20 325 -75 -23 625 Utility Reimb.-Tenant 4,114 2,925 1,189 41 3,641 473 13 4,114 1,189 41 3,641 473 13 5,850 Misc.Tenant Income 897 2,497 -1,600 -64 -1,352 2,249 166 897 -1,600 -64 -1,352 2,249 166 4,993 Tenant Work Orders 48,960 24,328 24,632 101 23,957 25,003 104 48,960 24,632 101 23,957 25,003 104 48,655 TOTAL OTHER TENANT INCOME 71,810 39,937 31,873 80 37,244 34,566 93 71,810 31,873 80 37,244 34,566 93 79,875 EFFECTIVE GROSS INCOME 1,848,792 1,876,411 -27,619 -1 1,894,478 -45,686 -2 1,848,792 -27,619 -1 1,894,478 -45,686 -2 3,772,439 GRANT REVENUE Grants - City | CDBG | Home 0 0 0 N/A 603,402 -603,402 -100 0 0 N/A 603,402 -603,402 -100 0 Villages, Ltd (As of 1/1/2025) (.village) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 174 of 194194 EXHIBIT: Budget Comparison|Villages, Ltd PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Villages, Ltd (As of 1/1/2025) (.village) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is TOTAL GRANT REVENUE 0 0 0 N/A 603,402 -603,402 -100 0 0 N/A 603,402 -603,402 -100 0 OTHER INCOME Miscellaneous Income 3,862 0 3,862 N/A 3,074 789 26 3,862 3,862 N/A 3,074 789 26 0 Interest Income - Unrestricted 196,864 163,280 33,584 21 168,264 28,601 17 196,864 33,584 21 168,264 28,601 17 326,560 TOTAL OTHER INCOME 200,727 163,280 37,447 23 171,337 29,390 17 200,727 37,447 23 171,337 29,390 17 326,560 TOTAL OPERATING REVENUE 2,049,518 2,039,691 9,828 0 2,669,218 -619,699 -23 2,049,518 9,828 0 2,669,218 -619,699 -23 4,098,999 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 197,108 230,846 33,737 15 261,526 64,418 25 197,108 33,737 15 261,526 64,418 25 461,691 Total Labor Expenses 197,108 230,846 33,737 15 261,526 64,418 25 197,108 33,737 15 261,526 64,418 25 461,691 Legal Expense Legal-Criminal Background Checks 2,765 322 -2,443 -758 0 -2,765 N/A 2,765 -2,443 -758 0 -2,765 N/A 632 Legal-Tenant Screening 0 4,034 4,034 100 23 23 100 0 4,034 100 23 23 100 8,018 Legal-General Expense 13,893 5,507 -8,386 -152 5,044 -8,849 -175 13,893 -8,386 -152 5,044 -8,849 -175 16,293 Total Legal Expense 16,658 9,863 -6,795 -69 5,067 -11,591 -229 16,658 -6,795 -69 5,067 -11,591 -229 24,943 Management Related Expense Asset Management Expense 167,621 123,750 -43,871 -35 0 -167,621 N/A 167,621 -43,871 -35 0 -167,621 N/A 249,999 Property Management Expense 174,449 179,699 5,249 3 178,051 3,601 2 174,449 5,249 3 178,051 3,601 2 360,938 Accounting/Bookkeeping Expense 148,783 153,185 4,402 3 155,362 6,578 4 148,783 4,402 3 155,362 6,578 4 307,684 Board Administration Expense 24,000 24,000 0 0 19,000 -5,000 -26 24,000 0 0 19,000 -5,000 -26 48,000 Overhead Expense Allocation 93,237 77,965 -15,273 -20 0 -93,237 N/A 93,237 -15,273 -20 0 -93,237 N/A 157,500 Total Management Related Expenses 608,091 558,598 -49,493 -9 352,412 -255,678 -73 608,091 -49,493 -9 352,412 -255,678 -73 1,124,122 Other Administrative Expenses Staff Training & Conferences 125 0 -125 N/A 0 -125 N/A 125 -125 N/A 0 -125 N/A 0 Mileage 1,019 431 -588 -136 0 -1,019 N/A 1,019 -588 -136 0 -1,019 N/A 830 Auditing & Tax Services 11,571 8,482 -3,088 -36 10,340 -1,231 -12 11,571 -3,088 -36 10,340 -1,231 -12 16,965 Tax Credit Monitoring 3,250 7,827 4,577 58 7,658 4,408 58 3,250 4,577 58 7,658 4,408 58 9,112 Marketing 60 197 137 69 30 -30 -102 60 137 69 30 -30 -102 539 Resident Relocation 1,867 4,811 2,944 61 3,522 1,655 47 1,867 2,944 61 3,522 1,655 47 10,487 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 175 of 194195 EXHIBIT: Budget Comparison|Villages, Ltd PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Villages, Ltd (As of 1/1/2025) (.village) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Consultants 1,461 1,993 532 27 420 -1,041 -248 1,461 532 27 420 -1,041 -248 3,986 Security Services 2,325 12,623 10,298 82 4,282 1,956 46 2,325 10,298 82 4,282 1,956 46 25,247 Miscellaneous Admin Expenses 647 75 -572 -762 66 -581 -880 647 -572 -762 66 -581 -880 150 Total Other Administrative Expenses 22,325 36,439 14,114 39 26,318 3,992 15 22,325 14,114 39 26,318 3,992 15 67,315 Technology Expenses Managed Services - Internal 23,190 24,070 880 4 27,570 4,380 16 23,190 880 4 27,570 4,380 16 48,140 Software License Fees 0 0 0 N/A 245 245 100 0 0 N/A 245 245 100 0 Cable Services 5,438 167 -5,271 -3,165 11,365 5,927 52 5,438 -5,271 -3,165 11,365 5,927 52 367 Telephone - Landline|Virtual 1,754 2,981 1,227 41 1,729 -25 -1 1,754 1,227 41 1,729 -25 -1 5,961 Internet Services 16,807 15,222 -1,585 -10 15,992 -815 -5 16,807 -1,585 -10 15,992 -815 -5 30,579 Cellular - Phones | Tablets 488 480 -8 -2 730 242 33 488 -8 -2 730 242 33 960 Total Technology Expenses 47,677 42,919 -4,757 -11 57,631 9,954 17 47,677 -4,757 -11 57,631 9,954 17 86,007 Compliance Expenses Compliance Services - Internal 15,192 15,731 539 3 38,113 22,921 60 15,192 539 3 38,113 22,921 60 31,463 Compliance Services - Consultants 715 3,082 2,367 77 350 -365 -104 715 2,367 77 350 -365 -104 6,119 Total Compliance Expenses 15,907 18,813 2,906 15 38,463 22,556 59 15,907 2,906 15 38,463 22,556 59 37,582 TOTAL ADMINISTRATIVE EXPENSES 907,766 897,478 -10,288 -1 741,417 -166,349 -22 907,766 -10,288 -1 741,417 -166,349 -22 1,801,661 GENERAL EXPENSES Resident Services Resident Services - Internal 50,694 50,700 6 0 126,889 76,195 60 50,694 6 0 126,889 76,195 60 101,400 Resident Services - External 1,212 0 -1,212 N/A 0 -1,212 N/A 1,212 -1,212 N/A 0 -1,212 N/A 0 Total Resident Services 51,906 50,700 -1,206 -2 126,889 74,983 59 51,906 -1,206 -2 126,889 74,983 59 101,400 Utilities Expense Water 62,698 69,398 6,700 10 74,828 12,129 16 62,698 6,700 10 74,828 12,129 16 135,034 Electricity 33,770 38,141 4,371 11 40,408 6,638 16 33,770 4,371 11 40,408 6,638 16 75,337 Electricity-Vacant Units 3,225 1,241 -1,984 -160 1,519 -1,706 -112 3,225 -1,984 -160 1,519 -1,706 -112 2,387 Gas 40,616 39,484 -1,132 -3 43,239 2,623 6 40,616 -1,132 -3 43,239 2,623 6 78,129 Gas-Vacant Units 0 141 141 100 492 492 100 0 141 100 492 492 100 204 Trash Removal Other 0 900 900 100 0 0 N/A 0 900 100 0 0 N/A 900 Trash Removal Services 22,675 28,048 5,372 19 28,591 5,916 21 22,675 5,372 19 28,591 5,916 21 53,560 Total Utility Expenses 162,984 177,353 14,369 8 189,077 26,093 14 162,984 14,369 8 189,077 26,093 14 345,551 Maintenance Expenses HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 176 of 194196 EXHIBIT: Budget Comparison|Villages, Ltd PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Villages, Ltd (As of 1/1/2025) (.village) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Maintenance - On Call 520 0 -520 N/A 0 -520 N/A 520 -520 N/A 0 -520 N/A 0 Total General Maint Expense 520 0 -520 N/A 0 -520 N/A 520 -520 N/A 0 -520 N/A 0 Supplies-Grounds 1,763 2,311 548 24 1,427 -336 -24 1,763 548 24 1,427 -336 -24 4,555 Supplies-Appliances 1,277 4,005 2,728 68 2,861 1,584 55 1,277 2,728 68 2,861 1,584 55 7,566 Supplies-Electrical 4,176 6,240 2,064 33 7,432 3,257 44 4,176 2,064 33 7,432 3,257 44 12,354 Supplies-Pest Control 89 638 549 86 480 391 82 89 549 86 480 391 82 1,275 Supplies-Janitorial 3,904 4,209 306 7 3,565 -339 -9 3,904 306 7 3,565 -339 -9 8,417 Supplies-General 547 1,723 1,176 68 1,985 1,438 72 547 1,176 68 1,985 1,438 72 3,379 Supplies-Plumbing 3,746 6,657 2,911 44 6,248 2,502 40 3,746 2,911 44 6,248 2,502 40 13,026 Supplies-Paint 331 0 -331 N/A 3,515 3,184 91 331 -331 N/A 3,515 3,184 91 0 Supplies-HVAC 468 577 109 19 603 135 22 468 109 19 603 135 22 1,123 Supplies-Doors 3,647 2,872 -775 -27 5,499 1,852 34 3,647 -775 -27 5,499 1,852 34 5,480 Supplies-Windows 832 2,015 1,183 59 1,592 761 48 832 1,183 59 1,592 761 48 3,898 Total Supplies | Materials 20,778 31,247 10,469 34 35,208 14,430 41 20,778 10,469 34 35,208 14,430 41 61,071 Contract-Work Orders - Internal 76,172 96,172 20,001 21 104,854 28,682 27 76,172 20,001 21 104,854 28,682 27 192,345 Contract-Preventative - Internal 35,213 36,550 1,337 4 72,036 36,823 51 35,213 1,337 4 72,036 36,823 51 73,100 Contract-Inspections Services 0 0 0 N/A 1,100 1,100 100 0 0 N/A 1,100 1,100 100 2,044 Contract-Painting 179 0 -179 N/A 400 221 55 179 -179 N/A 400 221 55 0 Contract-System Services 9,131 10,285 1,154 11 12,093 2,962 24 9,131 1,154 11 12,093 2,962 24 16,216 Contract-Appliance 1,461 1,844 382 21 838 -624 -74 1,461 382 21 838 -624 -74 4,439 Contract-Roof|Gutter 2,765 0 -2,765 N/A 0 -2,765 N/A 2,765 -2,765 N/A 0 -2,765 N/A 0 Contract-Carpet Cleaning 986 1,356 370 27 841 -145 -17 986 370 27 841 -145 -17 3,773 Contract-Electrical 3,307 1,906 -1,401 -73 4,376 1,070 24 3,307 -1,401 -73 4,376 1,070 24 5,214 Contract-Pest Control 8,563 13,038 4,475 34 1,871 -6,692 -358 8,563 4,475 34 1,871 -6,692 -358 25,887 Contract-Flooring 947 836 -110 -13 826 -121 -15 947 -110 -13 826 -121 -15 1,481 Contract-Grounds 107,604 111,053 3,450 3 115,692 8,088 7 107,604 3,450 3 115,692 8,088 7 199,476 Contract-Janitorial 26,415 23,209 -3,206 -14 15,222 -11,193 -74 26,415 -3,206 -14 15,222 -11,193 -74 45,770 Contract-Plumbing 16,239 15,071 -1,168 -8 16,749 510 3 16,239 -1,168 -8 16,749 510 3 28,702 Contract-HVAC 1,653 2,501 847 34 7,262 5,608 77 1,653 847 34 7,262 5,608 77 4,748 Contract-Windows 65 687 622 91 1,033 968 94 65 622 91 1,033 968 94 1,372 Contract-Elevators 1,896 2,094 198 9 1,756 -140 -8 1,896 198 9 1,756 -140 -8 4,189 Contract-General 13,029 32,067 19,038 59 42,210 29,180 69 13,029 19,038 59 42,210 29,180 69 49,996 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 177 of 194197 EXHIBIT: Budget Comparison|Villages, Ltd PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Villages, Ltd (As of 1/1/2025) (.village) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Total Contract Costs 305,625 348,671 43,046 12 399,157 93,532 23 305,625 43,046 12 399,157 93,532 23 658,750 Total Maintenance Expenses - Core 326,924 379,918 52,994 14 434,365 107,441 25 326,924 52,994 14 434,365 107,441 25 719,821 Unit Turn-Work Order 31,386 29,070 -2,316 -8 21,881 -9,505 -43 31,386 -2,316 -8 21,881 -9,505 -43 58,140 Unit Turn-External 57,868 48,450 -9,418 -19 37,923 -19,945 -53 57,868 -9,418 -19 37,923 -19,945 -53 96,900 Unit Turn Materials 13,377 13,680 303 2 0 -13,377 N/A 13,377 303 2 0 -13,377 N/A 27,360 Total Unit Turn Costs 102,631 91,200 -11,431 -13 59,804 -42,827 -72 102,631 -11,431 -13 59,804 -42,827 -72 182,400 Total Maintenance Expenses 429,555 471,118 41,563 9 494,169 64,614 13 429,555 41,563 9 494,169 64,614 13 902,220 Vehicle-Fuel 131 0 -131 N/A 0 -131 N/A 131 -131 N/A 0 -131 N/A 0 Total Vehicle Expenses 131 0 -131 N/A 0 -131 N/A 131 -131 N/A 0 -131 N/A 0 Insurance & Taxes Expenses Insurance - Property 70,959 77,168 6,209 8 104,942 33,983 32 70,959 6,209 8 104,942 33,983 32 154,335 Insurance - Liability 8,536 8,805 269 3 0 -8,536 N/A 8,536 269 3 0 -8,536 N/A 17,596 Insurance - Umbrella 8,343 9,374 1,031 11 0 -8,343 N/A 8,343 1,031 11 0 -8,343 N/A 18,734 Insurance - Specialty | Other 641 0 -641 N/A 0 -641 N/A 641 -641 N/A 0 -641 N/A 0 Insurance Administrative Fee - INTERNAL 9,801 8,600 -1,200 -14 0 -9,801 N/A 9,801 -1,200 -14 0 -9,801 N/A 17,201 Total Tax & Insurance Expenses 98,279 103,946 5,668 5 104,942 6,663 6 98,279 5,668 5 104,942 6,663 6 207,866 Other General Expenses Membership and Fees 5,074 4,623 -452 -10 4,624 -450 -10 5,074 -452 -10 4,624 -450 -10 4,623 Filing Fees 75 31 -44 -145 30 -45 -150 75 -44 -145 30 -45 -150 66 Office Supplies 1,389 1,105 -283 -26 1,290 -98 -8 1,389 -283 -26 1,290 -98 -8 2,370 Copier and Printer Usage | Supplies 2,392 627 -1,765 -281 548 -1,844 -336 2,392 -1,765 -281 548 -1,844 -336 1,279 Postage Usage | Supplies 0 90 90 100 0 0 N/A 0 90 100 0 0 N/A 181 Small Office Equipment 0 460 460 100 0 0 N/A 0 460 100 0 0 N/A 637 Meetings Expenses 0 0 0 N/A 158 158 100 0 0 N/A 158 158 100 0 Miscellaneous General Expense 8,965 11,088 2,123 19 9,223 258 3 8,965 2,123 19 9,223 258 3 22,176 Total Other General Expenses 17,894 18,024 130 1 15,873 -2,021 -13 17,894 130 1 15,873 -2,021 -13 31,332 Reserve Allowances Reserve Account Funding Allowance 48,551 23,190 -25,361 -109 22,873 -25,678 -112 48,551 -25,361 -109 22,873 -25,678 -112 46,381 Total Reserve Allowances 48,551 23,190 -25,361 -109 22,873 -25,678 -112 48,551 -25,361 -109 22,873 -25,678 -112 46,381 TOTAL GENERAL EXPENSES 809,300 844,332 35,032 4 953,823 144,523 15 809,300 35,032 4 953,823 144,523 15 1,634,750 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 178 of 194198 EXHIBIT: Budget Comparison|Villages, Ltd PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Villages, Ltd (As of 1/1/2025) (.village) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is TOTAL DIRECT OPERATING EXPENSES 1,717,066 1,741,810 24,744 1 1,695,240 -21,825 -1 1,717,066 24,744 1 1,695,240 -21,825 -1 3,436,412 TOTAL OPERATING EXPENSES 1,717,066 1,741,810 24,744 1 1,695,240 -21,825 -1 1,717,066 24,744 1 1,695,240 -21,825 -1 3,436,412 NET OPERATING INCOME 332,453 297,881 34,572 12 973,977 -641,525 -66 332,453 34,572 12 973,977 -641,525 -66 662,587 NON-OPERATING INCOME | EXPENSE NON OPERATING INCOME Interest Income - Soft Debt 235,076 0 235,076 N/A 0 235,076 N/A 235,076 235,076 N/A 0 235,076 N/A 0 Interest Income - Hard Debt 10,461 0 10,461 N/A 240,606 -230,145 -96 10,461 10,461 N/A 240,606 -230,145 -96 0 Contribution Revenue - Non Operating 0 0 0 N/A 1,094,163 -1,094,163 -100 0 0 N/A 1,094,163 -1,094,163 -100 0 TOTAL NON OPERATING INCOME 245,537 0 245,537 N/A 1,334,768 -1,089,231 -82 245,537 245,537 N/A 1,334,768 -1,089,231 -82 0 NON OPERATING EXPENSES Interest Expense - Soft Loans 113,936 113,936 0 0 109,585 -4,351 -4 113,936 0 0 109,585 -4,351 -4 227,872 Interest Expense - Hard Loans 89,107 95,160 6,053 6 97,725 8,618 9 89,107 6,053 6 97,725 8,618 9 189,881 Interest Expense - Loan Fees 2,305 2,305 0 0 2,305 0 0 2,305 0 0 2,305 0 0 4,609 Other Financing Costs 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 500 205,348 211,401 6,053 3 209,614 4,266 2 205,348 6,053 3 209,614 4,266 2 422,863 Depreciation - Buildings 639,253 507,527 -131,726 -26 517,209 -122,044 -24 639,253 -131,726 -26 517,209 -122,044 -24 1,010,305 Depreciation - Furn,Fix,Equip - Units 72,685 58,558 -14,128 -24 53,620 -19,065 -36 72,685 -14,128 -24 53,620 -19,065 -36 116,861 Depreciation - Furn,Fix,Equip - Common 10,868 8,328 -2,541 -31 6,505 -4,363 -67 10,868 -2,541 -31 6,505 -4,363 -67 16,656 Depreciation - Improvements 25,118 18,815 -6,303 -34 26,191 1,072 4 25,118 -6,303 -34 26,191 1,072 4 37,629 Amortization - Tax Credit Fees 0 1,037 1,037 100 1,037 1,037 100 0 1,037 100 1,037 1,037 100 2,073 747,925 594,264 -153,661 -26 604,562 -143,363 -24 747,925 -153,661 -26 604,562 -143,363 -24 1,183,525 Repayment of Grant to City 0 0 0 N/A 86,047 86,047 100 0 0 N/A 86,047 86,047 100 0 TOTAL NON OPERATING EXPENSES 953,273 805,665 -147,608 -18 900,223 -53,050 -6 953,273 -147,608 -18 900,223 -53,050 -6 1,606,388 GAIN (LOSS) - SALES OF ASSETS Proceeds - Sale of Capital Assets 4,424,000 1,244,948 3,179,052 255 2,030,000 2,394,000 118 4,424,000 3,179,052 255 2,030,000 2,394,000 118 4,151,544 Sales - Unit cost 225,771 0 -225,771 N/A 58,907 -166,864 -283 225,771 -225,771 N/A 58,907 -166,864 -283 0 Sales - Selling Costs -477,762 -178,000 -299,762 -168 -241,477 -236,285 -98 -477,762 -299,762 -168 -241,477 -236,285 -98 -624,400 NET GAIN (LOSS) - SALE OF ASSETS 3,720,467 1,066,948 2,653,519 249 1,729,616 1,990,851 115 3,720,467 2,653,519 249 1,729,616 1,990,851 115 3,527,144 PARTNERSHIP INCOME(EXPENSES) HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 179 of 194199 EXHIBIT: Budget Comparison|Villages, Ltd PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Villages, Ltd (As of 1/1/2025) (.village) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Partnership Expenses 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A -3,801 Partnership - Management Fee Expense -4,540 0 -4,540 N/A 0 -4,540 N/A -4,540 -4,540 N/A 0 -4,540 N/A 0 TOTAL PARTNERSHIP INCOME(EXPENSES)-4,540 0 -4,540 N/A 0 -4,540 N/A -4,540 -4,540 N/A 0 -4,540 N/A -3,801 NET NON-OPERATING INCOME(EXPENSE)3,008,191 261,283 2,746,908 1,051 2,164,161 844,030 39 3,008,191 2,746,908 1,051 2,164,161 844,030 39 1,916,955 NET INCOME (LOSS)3,340,644 559,164 2,781,480 497 3,138,138 202,505 6 3,340,644 2,781,480 497 3,138,138 202,505 6 2,579,542 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 180 of 194200 EXHIBIT: Villages - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 359,968 339,483 334,371 334,371 332,908 332,908 356,704 356,901 356,901 356,901 357,555 4,175,871 4,237,051 -61,180 -1 (Loss) Gain to Lease -19,244 -15,961 -14,897 -13,122 -11,469 -10,722 -30,689 -29,719 -29,719 -29,719 -29,719 -264,699 -333,950 69,251 -21 Tenant Base Rent 0 -202 -401 671 0 0 0 0 0 0 0 68 0 68 N/A Less: Vacancies -32,959 -16,551 -16,827 -23,637 -23,601 -24,994 -11,045 -11,063 -11,063 -11,063 -11,083 -204,949 -131,209 -73,740 56 Less: Concessions 0 0 0 0 -100 -75 0 0 0 0 0 -175 0 -175 N/A Less: Prepaid Rents 0 0 -7 0 0 0 0 0 0 0 0 -7 0 -7 N/A NET POTENTIAL RENT 307,765 306,769 302,239 298,283 297,738 297,117 314,970 316,119 316,119 316,119 316,753 3,706,110 3,771,892 -65,782 -2 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -425 -50 -75 -25 -100 -100 0 0 0 0 0 -775 0 -775 N/A Less: Allowance for Doubtful Accounts -6,625 -6,444 -6,321 -6,321 -6,247 -6,247 -6,850 -6,856 -6,856 -6,856 -6,856 -79,334 -81,368 2,034 -2 Pet Rent 449 475 475 450 425 400 170 170 170 170 170 3,694 2,040 1,654 81 Storage Rent 300 300 300 300 300 300 0 0 0 0 0 1,800 0 1,800 N/A Add: Recoveries -12 65 74 84 1,208 84 0 0 0 0 0 1,502 0 1,502 N/A Repayment Agreement 1 0 0 0 0 0 75 0 0 0 0 0 75 0 75 N/A NET POTENTIAL RENT ADJUSTMENTS -6,313 -5,654 -5,548 -5,513 -4,414 -5,488 -6,680 -6,686 -6,686 -6,686 -6,686 -73,037 -79,328 6,290 -8 NET RENTAL INCOME 301,452 301,115 296,691 292,770 293,324 291,629 308,290 309,433 309,433 309,433 310,067 3,633,072 3,692,564 -59,492 -2 OTHER TENANT INCOME Ancillary Income 94 0 598 635 0 140 406 406 406 406 406 3,904 4,873 -969 -20 Late Charges 1,191 1,100 850 1,125 1,100 1,125 987 987 987 987 987 12,416 11,850 566 5 Legal Fees - Tenant 2,862 2,281 964 1,317 2,207 0 252 252 252 252 252 11,146 3,028 8,118 268 NSF Charges 75 25 25 25 100 0 52 52 52 52 52 562 625 -62 -10 Utility Reimb.-Tenant 257 416 1,199 746 820 676 488 488 488 488 488 7,040 5,850 1,189 20 Misc.Tenant Income -485 350 307 300 249 175 416 416 416 416 416 3,393 4,993 -1,600 -32 Tenant Work Orders 1,149 2,525 17,293 11,351 8,306 8,335 4,055 4,055 4,055 4,055 4,055 73,287 48,655 24,632 51 TOTAL OTHER TENANT INCOME 5,143 6,698 21,236 15,499 12,782 10,451 6,656 6,656 6,656 6,656 6,656 111,748 79,875 31,873 40 EFFECTIVE GROSS INCOME 306,595 307,813 317,927 308,270 306,106 302,080 314,946 316,090 316,090 316,090 316,724 3,744,820 3,772,439 -27,619 -1 OTHER INCOME Miscellaneous Income 422 422 2,478 1,691 -1,572 422 0 0 0 0 0 3,862 0 3,862 N/A Interest Income - Unrestricted 27,800 27,645 32,416 33,962 36,203 38,838 27,213 27,213 27,213 27,213 27,213 360,144 326,560 33,584 10 TOTAL OTHER INCOME 28,222 28,067 34,894 35,653 34,631 39,260 27,213 27,213 27,213 27,213 27,213 364,007 326,560 37,447 11 TOTAL OPERATING REVENUE 334,817 335,880 352,821 343,923 340,737 341,340 342,160 343,303 343,303 343,303 343,937 4,108,827 4,098,999 9,828 0 OPERATING EXPENSES DIRECT OPERATING EXPENSES 12 Month Actual to Budget Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 181 of 194201 EXHIBIT: Villages - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Villages, Ltd (As of 1/1/2025) (.village) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is ADMINISTRATIVE Labor Expenses Management Labor 37,780 37,318 30,734 30,618 30,618 30,040 38,474 38,474 38,474 38,474 38,474 427,954 461,691 33,737 7 Total Labor Expenses 37,780 37,318 30,734 30,618 30,618 30,040 38,474 38,474 38,474 38,474 38,474 427,954 461,691 33,737 7 Legal Expense Legal-Criminal Background Checks 0 287 628 731 643 476 52 52 52 52 52 3,075 632 -2,443 -387 Legal-Tenant Screening 0 0 0 0 0 0 664 664 664 664 664 3,984 8,018 4,034 50 Legal-General Expense 3,692 2,181 1,472 2,308 2,026 2,214 5,661 905 905 905 905 24,679 16,293 -8,386 -51 Total Legal Expense 3,692 2,468 2,100 3,039 2,669 2,689 6,376 1,620 1,620 1,620 1,620 31,738 24,943 -6,795 -27 Management Related Expense Asset Management Expense 0 19,603 39,206 19,603 19,603 69,606 21,021 21,036 21,036 21,036 21,087 293,870 249,999 -43,871 -18 Property Management Expense 28,767 29,374 29,998 29,034 28,562 28,715 30,128 30,210 30,210 30,210 30,273 355,689 360,938 5,249 1 Accounting/Bookkeeping Expense 25,230 24,897 25,332 24,675 24,174 24,476 25,681 25,754 25,754 25,754 25,804 303,283 307,684 4,402 1 Board Administration Expense 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 4,000 48,000 48,000 0 0 Overhead Expense Allocation 11,479 11,624 11,570 11,571 11,862 35,132 13,243 13,252 13,252 13,252 13,284 172,772 157,500 -15,273 -10 Total Management Related Expenses 69,476 89,498 110,106 88,882 88,200 161,929 94,073 94,251 94,251 94,251 94,448 1,173,615 1,124,122 -49,493 -4 Other Administrative Expenses Staff Training & Conferences 0 0 125 0 0 0 0 0 0 0 0 125 0 -125 N/A Mileage 94 102 281 185 307 51 67 66 66 67 66 1,418 830 -588 -71 Auditing & Tax Services 0 438 2,975 2,538 2,590 3,031 1,414 1,414 1,414 1,414 1,414 20,054 16,965 -3,088 -18 Tax Credit Monitoring 3,250 0 0 0 0 0 0 0 0 0 1,285 4,535 9,112 4,577 50 Marketing 47 0 0 0 14 0 30 99 30 30 30 403 539 137 25 Resident Relocation 0 855 1,012 0 0 0 471 693 1,687 471 471 7,543 10,487 2,944 28 Consultants 0 0 0 0 1,461 0 332 332 332 332 332 3,454 3,986 532 13 Security Services 0 280 630 390 685 340 2,111 2,097 2,097 2,111 2,097 14,948 25,247 10,298 41 Miscellaneous Admin Expenses 12 386 15 75 178 -19 0 0 0 0 0 722 150 -572 -381 Total Other Administrative Expenses 3,402 2,060 5,037 3,187 5,235 3,403 4,425 4,700 5,626 4,425 5,695 53,202 67,315 14,114 21 Technology Expenses Managed Services - Internal 3,937 3,889 3,865 3,853 3,853 3,793 4,012 4,012 4,012 4,012 4,012 47,260 48,140 880 2 Cable Services 2,171 2,169 998 34 34 34 33 33 33 33 33 5,638 367 -5,271 -1,437 Telephone - Landline|Virtual 318 333 274 276 203 349 496 496 542 497 497 4,734 5,961 1,227 21 Internet Services 2,698 2,842 3,620 2,150 1,895 3,601 2,559 2,559 2,695 2,559 2,562 32,164 30,579 -1,585 -5 Cellular - Phones | Tablets 120 120 120 120 -32 40 80 80 80 80 80 968 960 -8 -1 Total Technology Expenses 9,243 9,354 8,877 6,433 5,953 7,817 7,180 7,180 7,362 7,181 7,184 90,765 86,007 -4,757 -6 Compliance Expenses Compliance Services - Internal 2,581 2,540 2,532 2,524 2,524 2,491 2,622 2,622 2,622 2,622 2,622 30,923 31,463 539 2 Compliance Services - Consultants 70 175 105 70 260 35 506 506 506 506 506 3,752 6,119 2,367 39 Total Compliance Expenses 2,651 2,715 2,637 2,594 2,784 2,526 3,128 3,128 3,128 3,128 3,128 34,675 37,582 2,906 8 TOTAL ADMINISTRATIVE EXPENSES 126,244 143,413 159,492 134,754 135,459 208,404 153,656 149,354 150,462 149,080 150,550 1,811,949 1,801,661 -10,288 -1 GENERAL EXPENSES Resident Services Resident Services - Internal 8,449 8,449 8,449 8,449 8,449 8,449 8,450 8,450 8,450 8,450 8,450 101,394 101,400 6 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 182 of 194202 EXHIBIT: Villages - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Villages, Ltd (As of 1/1/2025) (.village) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Resident Services - External 606 606 0 0 0 0 0 0 0 0 0 1,212 0 -1,212 N/A Total Resident Services 9,055 9,055 8,449 8,449 8,449 8,449 8,450 8,450 8,450 8,450 8,450 102,606 101,400 -1,206 -1 Utilities Expense Water 10,369 10,070 9,643 11,302 4,190 17,125 10,939 10,939 10,939 10,939 10,939 128,334 135,034 6,700 5 Electricity 5,272 6,755 5,714 6,158 2,746 7,124 6,199 6,199 6,199 6,199 6,199 70,966 75,337 4,371 6 Electricity-Vacant Units 170 1,687 0 676 121 571 189 189 189 189 200 4,370 2,387 -1,984 -83 Gas 7,600 7,776 12,587 5,694 2,327 4,632 6,441 6,441 6,441 6,441 6,441 79,261 78,129 -1,132 -1 Gas-Vacant Units 0 0 0 0 0 0 10 10 10 10 10 63 204 141 69 Trash Removal Other 0 0 0 0 0 0 0 0 0 0 0 0 900 900 100 Trash Removal Services 4,687 3,593 7,453 137 3,161 3,645 4,424 4,449 4,122 4,183 4,348 48,188 53,560 5,372 10 Total Utility Expenses 28,098 29,880 35,398 23,967 12,544 33,097 28,203 28,228 27,901 27,962 28,138 331,182 345,551 14,369 4 Maintenance Expenses Maintenance - On Call 0 0 0 328 0 192 0 0 0 0 0 520 0 -520 N/A Total General Maint Expense 0 0 0 328 0 192 0 0 0 0 0 520 0 -520 N/A Supplies-Grounds 405 393 232 190 355 188 374 374 374 374 374 4,007 4,555 548 12 Supplies-Appliances -208 276 43 564 482 120 593 593 593 593 593 4,837 7,566 2,728 36 Supplies-Electrical 3 282 376 1,509 1,397 610 1,019 1,019 1,019 1,019 1,019 10,289 12,354 2,064 17 Supplies-Pest Control 0 22 2 9 0 56 106 106 106 106 106 726 1,275 549 43 Supplies-Janitorial 982 496 846 414 775 390 701 701 701 701 701 8,111 8,417 306 4 Supplies-General 7 45 27 183 65 220 276 276 276 276 276 2,204 3,379 1,176 35 Supplies-Plumbing 329 630 668 634 643 842 1,061 1,061 1,061 1,061 1,061 10,115 13,026 2,911 22 Supplies-Paint 0 0 45 62 224 0 0 0 0 0 0 331 0 -331 N/A Supplies-HVAC 150 82 153 82 0 0 91 91 91 91 91 1,013 1,123 109 10 Supplies-Doors 142 640 69 645 429 1,721 435 435 435 435 435 6,255 5,480 -775 -14 Supplies-Windows 0 92 154 292 278 16 314 314 314 314 314 2,715 3,898 1,183 30 Total Supplies | Materials 1,811 2,957 2,614 4,585 4,648 4,164 4,971 4,971 4,971 4,971 4,971 50,602 61,071 10,469 17 Contract-Work Orders - Internal 11,662 12,079 11,178 20,579 10,009 10,665 16,029 16,029 16,029 16,029 16,029 172,344 192,345 20,001 10 Contract-Preventative - Internal 5,950 5,883 5,866 5,849 5,849 5,816 6,092 6,092 6,092 6,092 6,092 71,763 73,100 1,337 2 Contract-Inspections Services 0 0 0 0 0 0 0 0 0 0 2,044 2,044 2,044 0 0 Contract-Painting 0 0 179 0 0 0 0 0 0 0 0 179 0 -179 N/A Contract-System Services 214 1,683 228 175 488 6,344 4,912 0 0 881 0 15,061 16,216 1,154 7 Contract-Appliance 0 0 254 478 256 474 120 253 735 284 981 4,056 4,439 382 9 Contract-Roof|Gutter 2,765 0 0 0 0 0 0 0 0 0 0 2,765 0 -2,765 N/A Contract-Carpet Cleaning 0 291 570 0 125 0 107 194 0 497 840 3,403 3,773 370 10 Contract-Electrical 66 66 350 342 866 1,617 683 425 345 358 130 6,614 5,214 -1,401 -27 Contract-Pest Control 593 1,370 1,028 2,733 1,134 1,705 4,450 902 4,450 902 1,242 21,411 25,887 4,475 17 Contract-Flooring 0 0 0 210 330 407 0 0 0 0 644 1,591 1,481 -110 -7 Contract-Grounds 40,422 17,678 21,784 10,594 7,052 10,073 14,610 14,610 14,886 14,886 14,610 196,026 199,476 3,450 2 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 183 of 194203 EXHIBIT: Villages - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Villages, Ltd (As of 1/1/2025) (.village) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Contract-Janitorial 4,343 1,415 5,655 8,560 1,880 4,561 3,760 3,760 3,760 3,760 3,760 48,976 45,770 -3,206 -7 Contract-Plumbing 3,825 2,481 5,620 1,449 875 1,989 2,022 1,292 4,007 3,037 1,292 29,870 28,702 -1,168 -4 Contract-HVAC 79 1,266 0 0 0 308 269 1,294 269 0 0 3,900 4,748 847 18 Contract-Windows 0 0 65 0 0 0 600 0 0 0 0 750 1,372 622 45 Contract-Elevators 0 0 948 0 0 948 0 0 0 300 897 3,991 4,189 198 5 Contract-General 370 2,396 4,980 1,098 2,902 1,283 3,995 2,304 2,896 2,918 2,559 30,958 49,996 19,038 38 Total Contract Costs 70,289 46,608 58,705 52,067 31,766 46,189 57,648 47,154 53,468 49,942 51,120 615,704 658,750 43,046 7 Total Maintenance Expenses - Core 72,100 49,565 61,319 56,980 36,414 50,545 62,619 52,125 58,439 54,913 56,091 666,826 719,821 52,994 7 Unit Turn-Work Order 2,571 3,442 2,465 8,861 10,498 3,549 4,845 4,845 4,845 4,845 4,845 60,456 58,140 -2,316 -4 Unit Turn-External 7,146 10,345 8,420 13,825 13,570 4,561 8,075 8,075 8,075 8,075 8,075 106,318 96,900 -9,418 -10 Unit Turn Materials 239 2,461 252 4,869 2,466 3,091 2,280 2,280 2,280 2,280 2,280 27,057 27,360 303 1 Total Unit Turn Costs 9,956 16,248 11,137 27,555 26,533 11,201 15,200 15,200 15,200 15,200 15,200 193,831 182,400 -11,431 -6 Total Maintenance Expenses 82,057 65,814 72,456 84,535 62,948 61,746 77,819 67,325 73,639 70,113 71,291 860,657 902,220 41,563 5 Vehicle-Fuel 49 50 31 0 0 0 0 0 0 0 0 131 0 -131 N/A Total Vehicle Expenses 49 50 31 0 0 0 0 0 0 0 0 131 0 -131 N/A Insurance & Taxes Expenses Insurance - Property 17,835 17,807 17,539 17,274 -4,928 5,432 12,861 12,861 12,861 12,861 12,861 148,126 154,335 6,209 4 Insurance - Liability 1,371 1,371 1,350 1,329 1,296 1,820 1,465 1,465 1,465 1,465 1,465 17,327 17,596 269 2 Insurance - Umbrella 1,339 1,339 1,317 1,302 1,273 1,772 1,560 1,560 1,560 1,560 1,560 17,703 18,734 1,031 6 Insurance - Specialty | Other 107 107 107 107 107 107 0 0 0 0 0 641 0 -641 N/A Insurance Administrative Fee - INTERNAL 1,736 1,733 1,691 1,657 -722 3,704 1,433 1,433 1,433 1,433 1,433 18,401 17,201 -1,200 -7 Total Tax & Insurance Expenses 22,388 22,356 22,005 21,669 -2,974 12,835 17,320 17,320 17,320 17,320 17,320 202,198 207,866 5,668 3 Other General Expenses Membership and Fees 0 0 0 4,800 274 0 0 0 0 0 0 5,074 4,623 -452 -10 Filing Fees 75 0 0 0 0 0 10 0 0 26 0 111 66 -44 -67 Office Supplies 397 127 121 198 268 278 278 176 176 282 176 2,653 2,370 -283 -12 Copier and Printer Usage | Supplies 47 398 398 398 571 580 127 105 105 105 105 3,044 1,279 -1,765 -138 Postage Usage | Supplies 0 0 0 0 0 0 19 12 12 19 12 90 181 90 50 Small Office Equipment 0 0 0 0 0 0 29 29 29 29 29 177 637 460 72 Miscellaneous General Expense 1,494 1,494 1,494 1,494 1,494 1,494 1,848 1,848 1,848 1,848 1,848 20,053 22,176 2,123 10 Total Other General Expenses 2,012 2,020 2,014 6,890 2,607 2,352 2,312 2,170 2,170 2,309 2,170 31,202 31,332 130 0 Reserve Allowances Reserve Account Funding Allowance 3,865 3,865 17,051 3,865 3,865 16,040 3,865 3,865 3,865 3,865 3,865 71,742 46,381 -25,361 -55 Total Reserve Allowances 3,865 3,865 17,051 3,865 3,865 16,040 3,865 3,865 3,865 3,865 3,865 71,742 46,381 -25,361 -55 TOTAL GENERAL EXPENSES 147,524 133,040 157,403 149,375 87,438 134,519 137,968 127,358 133,346 130,019 131,234 1,599,718 1,634,750 35,032 2 TOTAL DIRECT OPERATING EXPENSES 273,768 276,453 316,895 284,129 222,897 342,923 291,625 276,712 283,807 279,098 281,784 3,411,667 3,436,412 24,744 1 TOTAL OPERATING EXPENSES 273,768 276,453 316,895 284,129 222,897 342,923 291,625 276,712 283,807 279,098 281,784 3,411,667 3,436,412 24,744 1 NET OPERATING INCOME 61,049 59,427 35,927 59,794 117,840 -1,583 50,535 66,591 59,495 64,205 62,153 697,159 662,587 34,572 5 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 184 of 194204 EXHIBIT: Villages - FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance Villages, Ltd (As of 1/1/2025) (.village) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is NON-OPERATING INCOME | EXPENSE NON OPERATING INCOME Interest Income - Soft Debt 39,105 39,055 39,055 39,055 39,379 39,429 0 0 0 0 0 235,076 0 235,076 N/A Interest Income - Hard Debt 1,868 1,868 1,868 1,868 1,494 1,494 0 0 0 0 0 10,461 0 10,461 N/A TOTAL NON OPERATING INCOME 40,973 40,923 40,923 40,923 40,873 40,923 0 0 0 0 0 245,537 0 245,537 N/A NON OPERATING EXPENSES Interest Expense - Soft Loans 18,989 18,989 18,989 18,989 18,989 18,989 18,989 18,989 18,989 18,989 18,989 227,872 227,872 0 0 Interest Expense - Hard Loans 16,154 16,504 15,008 15,977 11,174 14,288 15,818 15,806 15,781 15,768 15,756 183,828 189,881 6,053 3 Interest Expense - Loan Fees 384 384 384 384 384 384 384 384 384 384 384 4,609 4,609 0 0 Other Financing Costs 0 0 0 0 0 0 0 500 0 0 0 500 500 0 0 35,528 35,877 34,382 35,351 30,548 33,662 35,191 35,679 35,154 35,142 35,129 416,809 422,863 6,053 1 Depreciation - Buildings 106,709 106,709 106,619 106,619 106,619 105,980 83,796 83,796 83,796 83,796 83,796 1,142,032 1,010,305 -131,726 -13 Depreciation - Furn,Fix,Equip - Units 12,217 12,217 12,132 12,132 11,901 12,086 9,717 9,717 9,717 9,717 9,717 130,989 116,861 -14,128 -12 Depreciation - Furn,Fix,Equip - Common 1,765 1,765 1,765 1,765 1,996 1,811 1,388 1,388 1,388 1,388 1,388 19,196 16,656 -2,541 -15 Depreciation - Improvements 4,186 4,186 4,186 4,186 4,186 4,186 3,136 3,136 3,136 3,136 3,136 43,933 37,629 -6,303 -17 Amortization - Tax Credit Fees 0 0 0 0 0 0 173 173 173 173 173 1,037 2,073 1,037 50 124,877 124,877 124,702 124,702 124,702 124,064 98,210 98,210 98,210 98,210 98,210 1,337,186 1,183,525 -153,661 -13 TOTAL NON OPERATING EXPENSES 160,405 160,754 159,084 160,053 155,250 157,726 133,401 133,889 133,364 133,352 133,339 1,753,996 1,606,388 -147,608 -9 GAIN (LOSS) - SALES OF ASSETS Proceeds - Sale of Capital Assets 1,321,000 0 1,630,000 0 1,173,000 300,000 0 0 0 0 1,632,563 7,330,596 4,151,544 3,179,052 77 Sales - Unit cost 46,500 0 92,695 0 75,853 10,723 0 0 0 0 0 225,771 0 -225,771 N/A Sales - Selling Costs -84,228 326 -125,809 -150,000 -99,580 -18,471 0 0 0 0 -249,400 -924,162 -624,400 -299,762 48 NET GAIN (LOSS) - SALE OF ASSETS 1,190,272 326 1,411,495 -150,000 997,568 270,806 0 0 0 0 1,383,163 6,180,663 3,527,144 2,653,519 75 PARTNERSHIP INCOME(EXPENSES) Partnership Expenses 0 0 0 0 0 0 0 0 0 0 -3,801 -3,801 -3,801 0 0 Partnership - Management Fee Expense 0 -4,540 0 0 0 0 0 0 0 0 0 -4,540 0 -4,540 N/A TOTAL PARTNERSHIP INCOME(EXPENSES)0 -4,540 0 0 0 0 0 0 0 0 -3,801 -8,342 -3,801 -4,540 119 NET NON-OPERATING INCOME(EXPENSE)1,070,840 -124,045 1,293,334 -269,130 883,190 154,003 -133,401 -133,889 -133,364 -133,352 1,246,022 4,663,863 1,916,955 2,746,908 143 NET INCOME (LOSS)1,131,888 -64,619 1,329,261 -209,336 1,001,030 152,419 -82,866 -67,298 -73,869 -69,147 1,308,175 5,361,022 2,579,542 2,781,480 108 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 185 of 194205 EXHIBIT: Budget Comparison|Wellington PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 382,704 382,704 0 0 250,960 131,744 52 382,704 0 0 250,960 131,744 52 778,164 (Loss) Gain to Lease -3,492 -3,118 -374 -12 -10,264 6,772 66 -3,492 -374 -12 -10,264 6,772 66 -6,236 Tenant Base Rent 0 0 0 N/A 23,751 -23,751 -100 0 0 N/A 23,751 -23,751 -100 0 Subsidy - Housing Choice Voucher 0 0 0 N/A 95,275 -95,275 -100 0 0 N/A 95,275 -95,275 -100 0 Less: Vacancies -10,467 -7,656 -2,811 -37 1,053 -11,520 -1,094 -10,467 -2,811 -37 1,053 -11,520 -1,094 -15,564 NET POTENTIAL RENT 368,745 371,930 -3,185 -1 360,775 7,970 2 368,745 -3,185 -1 360,775 7,970 2 756,364 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -225 0 -225 N/A -5,239 5,014 96 -225 -225 N/A -5,239 5,014 96 0 Less: Allowance for Doubtful Accounts -8,037 -8,037 0 0 0 -8,037 N/A -8,037 0 0 0 -8,037 N/A -16,341 NET POTENTIAL RENT ADJUSTMENTS -8,262 -8,037 -225 -3 -5,239 -3,023 -58 -8,262 -225 -3 -5,239 -3,023 -58 -16,341 NET RENTAL INCOME 360,483 363,893 -3,410 -1 355,536 4,947 1 360,483 -3,410 -1 355,536 4,947 1 740,023 OTHER TENANT INCOME Ancillary Income 169 0 169 N/A 26 143 541 169 169 N/A 26 143 541 0 Late Charges 1,175 0 1,175 N/A 800 375 47 1,175 1,175 N/A 800 375 47 0 Utility Reimb.-Tenant 1,437 0 1,437 N/A 834 603 72 1,437 1,437 N/A 834 603 72 0 Tenant Work Orders 13,414 0 13,414 N/A 2,523 10,891 432 13,414 13,414 N/A 2,523 10,891 432 0 TOTAL OTHER TENANT INCOME 16,195 0 16,195 N/A 4,183 12,012 287 16,195 16,195 N/A 4,183 12,012 287 0 EFFECTIVE GROSS INCOME 376,679 363,893 12,785 4 359,720 16,959 5 376,679 12,785 4 359,720 16,959 5 740,023 OTHER INCOME Miscellaneous Income 65,606 0 65,606 N/A 0 65,606 N/A 65,606 65,606 N/A 0 65,606 N/A 0 Interest Income - Unrestricted 127 126 2 1 123 4 3 127 2 1 123 4 3 251 TOTAL OTHER INCOME 65,733 126 65,608 52,269 123 65,610 53,372 65,733 65,608 52,269 123 65,610 53,372 251 TOTAL OPERATING REVENUE 442,412 364,019 78,393 22 359,843 82,569 23 442,412 78,393 22 359,843 82,569 23 740,274 OPERATING EXPENSES DIRECT OPERATING EXPENSES Wellington Community Housing (wellch) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 186 of 194206 EXHIBIT: Budget Comparison|Wellington PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Wellington Community Housing (wellch) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is ADMINISTRATIVE Labor Expenses Management Labor 20,798 27,729 6,931 25 22,422 1,624 7 20,798 6,931 25 22,422 1,624 7 55,458 Total Labor Expenses 20,798 27,729 6,931 25 22,422 1,624 7 20,798 6,931 25 22,422 1,624 7 55,458 Legal Expense Legal-Criminal Background Checks 92 0 -92 N/A 0 -92 N/A 92 -92 N/A 0 -92 N/A 0 Legal-Tenant Screening 0 530 530 100 58 58 100 0 530 100 58 58 100 1,060 Legal-General Expense 602 39 -563 -1,431 45 -558 -1,239 602 -563 -1,431 45 -558 -1,239 79 Total Legal Expense 694 569 -125 -22 103 -591 -571 694 -125 -22 103 -591 -571 1,139 Management Related Expense Property Management Expense 31,331 31,127 -204 -1 29,197 -2,134 -7 31,331 -204 -1 29,197 -2,134 -7 62,253 Accounting/Bookkeeping Expense 30,259 31,127 867 3 29,197 -1,063 -4 30,259 867 3 29,197 -1,063 -4 62,253 Board Administration Expense 12,500 12,500 0 0 12,500 0 0 12,500 0 0 12,500 0 0 25,000 Total Management Related Expenses 74,090 74,753 663 1 70,893 -3,197 -5 74,090 663 1 70,893 -3,197 -5 149,506 Other Administrative Expenses Staff Training & Conferences 0 1,500 1,500 100 3,838 3,838 100 0 1,500 100 3,838 3,838 100 3,000 Travel, Lodging & Per Diems 0 0 0 N/A 1,896 1,896 100 0 0 N/A 1,896 1,896 100 0 Mileage 233 233 1 0 98 -135 -138 233 1 0 98 -135 -138 467 Auditing & Tax Services 4,728 4,728 0 0 4,857 129 3 4,728 0 0 4,857 129 3 9,456 Marketing 0 115 115 100 113 113 100 0 115 100 113 113 100 115 Resident Relocation 1,441 460 -981 -213 690 -751 -109 1,441 -981 -213 690 -751 -109 1,030 Security Services 488 808 320 40 756 268 35 488 320 40 756 268 35 1,616 Miscellaneous Admin Expenses 50 0 -50 N/A 0 -50 N/A 50 -50 N/A 0 -50 N/A 0 Total Other Administrative Expenses 6,940 7,845 905 12 12,247 5,307 43 6,940 905 12 12,247 5,307 43 15,684 Technology Expenses Managed Services - Internal 2,892 2,891 -1 0 2,364 -528 -22 2,892 -1 0 2,364 -528 -22 5,783 Telephone - Landline|Virtual 298 0 -298 N/A 235 -63 -27 298 -298 N/A 235 -63 -27 0 Internet Services 3,333 3,614 281 8 2,959 -374 -13 3,333 281 8 2,959 -374 -13 7,228 Cellular - Phones | Tablets 81 0 -81 N/A 286 205 72 81 -81 N/A 286 205 72 0 Total Technology Expenses 6,604 6,505 -98 -2 5,844 -760 -13 6,604 -98 -2 5,844 -760 -13 13,011 Compliance Expenses Compliance Services - Internal 2,064 2,065 1 0 4,884 2,820 58 2,064 1 0 4,884 2,820 58 4,129 Compliance Services - Consultants 0 1,005 1,005 100 0 0 N/A 0 1,005 100 0 0 N/A 2,010 Total Compliance Expenses 2,064 3,070 1,006 33 4,884 2,820 58 2,064 1,006 33 4,884 2,820 58 6,139 TOTAL ADMINISTRATIVE EXPENSES 111,190 120,472 9,282 8 116,394 5,203 4 111,190 9,282 8 116,394 5,203 4 240,938 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 187 of 194207 EXHIBIT: Budget Comparison|Wellington PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Wellington Community Housing (wellch) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is GENERAL EXPENSES Resident Services Resident Services - Internal 8,400 8,400 0 0 16,800 8,400 50 8,400 0 0 16,800 8,400 50 16,800 Resident Services - External 168 0 -168 N/A 0 -168 N/A 168 -168 N/A 0 -168 N/A 0 Total Resident Services 8,568 8,400 -168 -2 16,800 8,232 49 8,568 -168 -2 16,800 8,232 49 16,800 Utilities Expense Water 19,638 33,006 13,368 41 26,236 6,598 25 19,638 13,368 41 26,236 6,598 25 66,012 Electricity 6,112 5,290 -822 -16 4,823 -1,288 -27 6,112 -822 -16 4,823 -1,288 -27 10,580 Electricity-Vacant Units 32 106 74 70 0 -32 N/A 32 74 70 0 -32 N/A 211 Gas 5,413 6,054 641 11 6,088 676 11 5,413 641 11 6,088 676 11 12,107 Trash Removal Services 8,419 6,621 -1,798 -27 6,621 -1,798 -27 8,419 -1,798 -27 6,621 -1,798 -27 13,242 Total Utility Expenses 39,614 51,076 11,462 22 43,768 4,155 9 39,614 11,462 22 43,768 4,155 9 102,152 Maintenance Expenses Maintenance - On Call 34 0 -34 N/A 0 -34 N/A 34 -34 N/A 0 -34 N/A 0 Total General Maint Expense 34 0 -34 N/A 0 -34 N/A 34 -34 N/A 0 -34 N/A 0 Supplies-Grounds 305 207 -98 -48 98 -207 -211 305 -98 -48 98 -207 -211 413 Supplies-Appliances 14 100 86 86 30 16 53 14 86 86 30 16 53 200 Supplies-Electrical 2,788 600 -2,188 -365 590 -2,197 -372 2,788 -2,188 -365 590 -2,197 -372 1,200 Supplies-Pest Control 0 21 21 100 0 0 N/A 0 21 100 0 0 N/A 43 Supplies-Janitorial 19 191 172 90 301 282 94 19 172 90 301 282 94 381 Supplies-General 235 428 193 45 308 73 24 235 193 45 308 73 24 855 Supplies-Plumbing 349 1,120 770 69 283 -67 -24 349 770 69 283 -67 -24 2,240 Supplies-Paint 31 0 -31 N/A 407 376 92 31 -31 N/A 407 376 92 0 Supplies-HVAC 70 244 174 71 63 -7 -10 70 174 71 63 -7 -10 488 Supplies-Doors 276 1,019 743 73 221 -55 -25 276 743 73 221 -55 -25 2,038 Supplies-Windows 246 660 415 63 280 34 12 246 415 63 280 34 12 1,321 Total Supplies | Materials 4,332 4,590 258 6 2,580 -1,752 -68 4,332 258 6 2,580 -1,752 -68 9,180 Contract-Work Orders - Internal 19,664 19,001 -663 -3 18,514 -1,150 -6 19,664 -663 -3 18,514 -1,150 -6 38,003 Contract-Preventative - Internal 7,800 7,800 0 0 9,648 1,848 19 7,800 0 0 9,648 1,848 19 15,600 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 188 of 194208 EXHIBIT: Budget Comparison|Wellington PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Wellington Community Housing (wellch) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Contract-Appliance 470 0 -470 N/A 308 -162 -53 470 -470 N/A 308 -162 -53 554 Contract-Carpet Cleaning 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 431 Contract-Electrical 0 1,172 1,172 100 1,794 1,794 100 0 1,172 100 1,794 1,794 100 2,344 Contract-Pest Control 56 1,372 1,316 96 0 -56 N/A 56 1,316 96 0 -56 N/A 2,744 Contract-Grounds 22,823 32,221 9,398 29 31,435 8,612 27 22,823 9,398 29 31,435 8,612 27 64,441 Contract-Janitorial 185 918 733 80 320 135 42 185 733 80 320 135 42 1,836 Contract-Plumbing 3,558 6,682 3,123 47 6,363 2,805 44 3,558 3,123 47 6,363 2,805 44 13,363 Contract-HVAC 5,057 2,480 -2,577 -104 2,090 -2,967 -142 5,057 -2,577 -104 2,090 -2,967 -142 4,960 Contract-Windows 0 917 917 100 0 0 N/A 0 917 100 0 0 N/A 1,517 Contract-General 2,003 5,451 3,448 63 5,602 3,599 64 2,003 3,448 63 5,602 3,599 64 10,846 Total Contract Costs 61,617 78,014 16,398 21 76,074 14,458 19 61,617 16,398 21 76,074 14,458 19 156,640 Total Maintenance Expenses - Core 65,982 82,604 16,622 20 78,654 12,672 16 65,982 16,622 20 78,654 12,672 16 165,819 Unit Turn-Work Order 4,994 2,550 -2,444 -96 3,844 -1,150 -30 4,994 -2,444 -96 3,844 -1,150 -30 5,100 Unit Turn-External 17,885 4,250 -13,635 -321 1,415 -16,470 -1,164 17,885 -13,635 -321 1,415 -16,470 -1,164 8,500 Unit Turn Materials 3,100 1,200 -1,900 -158 0 -3,100 N/A 3,100 -1,900 -158 0 -3,100 N/A 2,400 Total Unit Turn Costs 25,978 8,000 -17,978 -225 5,259 -20,720 -394 25,978 -17,978 -225 5,259 -20,720 -394 16,000 Total Maintenance Expenses 91,960 90,604 -1,356 -1 83,913 -8,047 -10 91,960 -1,356 -1 83,913 -8,047 -10 181,819 Insurance & Taxes Expenses Insurance - Property 11,117 8,476 -2,640 -31 21,484 10,367 48 11,117 -2,640 -31 21,484 10,367 48 16,953 Insurance - Liability 2,061 2,052 -9 0 0 -2,061 N/A 2,061 -9 0 0 -2,061 N/A 4,104 Insurance - D&O | E&O 231 339 108 32 0 -231 N/A 231 108 32 0 -231 N/A 678 Insurance - Specialty | Other 9,996 10,824 828 8 0 -9,996 N/A 9,996 828 8 0 -9,996 N/A 21,648 Total Tax & Insurance Expenses 23,405 21,692 -1,713 -8 21,484 -1,921 -9 23,405 -1,713 -8 21,484 -1,921 -9 43,383 Other General Expenses Membership and Fees 89 91 2 2 89 0 0 89 2 2 89 0 0 91 Filing Fees 0 0 0 N/A 0 0 N/A 0 0 N/A 0 0 N/A 10 Office Supplies 50 72 22 31 0 -50 N/A 50 22 31 0 -50 N/A 144 Postage Usage | Supplies 0 9 9 100 9 9 100 0 9 100 9 9 100 9 Small Office Equipment 0 90 90 100 0 0 N/A 0 90 100 0 0 N/A 180 Miscellaneous General Expense 0 252 252 100 0 0 N/A 0 252 100 0 0 N/A 504 Total Other General Expenses 138 514 375 73 98 -41 -42 138 375 73 98 -41 -42 938 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 189 of 194209 EXHIBIT: Budget Comparison|Wellington PTD PTD PTD YTD YTD YTD Actual Budget Variance % Var Last Year Change % Change Actual Variance % Var Last Year Change % Change Annual Wellington Community Housing (wellch) Budget Comparison Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Reserve Allowances Reserve Account Funding Allowance 6,300 0 -6,300 N/A 0 -6,300 N/A 6,300 -6,300 N/A 0 -6,300 N/A 0 Total Reserve Allowances 6,300 0 -6,300 N/A 0 -6,300 N/A 6,300 -6,300 N/A 0 -6,300 N/A 0 TOTAL GENERAL EXPENSES 169,985 172,285 2,300 1 166,063 -3,922 -2 169,985 2,300 1 166,063 -3,922 -2 345,092 TOTAL DIRECT OPERATING EXPENSES 281,175 292,757 11,582 4 282,457 1,282 0 281,175 11,582 4 282,457 1,282 0 586,030 TOTAL OPERATING EXPENSES 281,175 292,757 11,582 4 282,457 1,282 0 281,175 11,582 4 282,457 1,282 0 586,030 NET OPERATING INCOME 161,237 71,262 89,975 126 77,386 83,851 108 161,237 89,975 126 77,386 83,851 108 154,243 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Other Financing Costs 0 500 500 100 500 500 100 0 500 100 500 500 100 500 0 500 500 100 500 500 100 0 500 100 500 500 100 500 Depreciation - Buildings 11,919 11,919 0 0 18,186 6,267 34 11,919 0 0 18,186 6,267 34 23,838 Depreciation - Furn,Fix,Equip - Units 5,210 6,088 878 14 4,658 -553 -12 5,210 878 14 4,658 -553 -12 12,175 Depreciation - Furn,Fix,Equip - Common 5,936 4,267 -1,669 -39 3,003 -2,933 -98 5,936 -1,669 -39 3,003 -2,933 -98 8,534 23,065 22,274 -792 -4 25,847 2,781 11 23,065 -792 -4 25,847 2,781 11 44,547 TOTAL NON OPERATING EXPENSES 23,065 22,774 -292 -1 26,347 3,281 12 23,065 -292 -1 26,347 3,281 12 45,047 NET NON-OPERATING INCOME(EXPENSE)-23,065 -22,774 -292 -1 -26,347 3,281 12 -23,065 -292 -1 -26,347 3,281 12 -45,047 NET INCOME (LOSS)138,172 48,488 89,683 185 51,039 87,132 171 138,172 89,683 185 51,039 87,132 171 109,196 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 190 of 194210 EXHIBIT: Wellch FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance INCOME\EXPENSES OPERATING INCOME (EXPENSES) OPERATING REVENUES RENTAL INCOME NET RENTAL INCOME POTENTIAL RENTAL INCOME Gross Potential Rent 63,784 63,784 63,784 63,784 63,784 63,784 63,784 63,784 66,973 66,973 66,973 778,164 778,164 0 0 (Loss) Gain to Lease -582 -582 -582 -582 -582 -582 -520 -520 -520 -520 -520 -6,610 -6,236 -374 6 Less: Vacancies 0 0 0 -822 -4,716 -4,929 -1,276 -1,276 -1,339 -1,339 -1,339 -18,375 -15,564 -2,811 18 NET POTENTIAL RENT 63,202 63,202 63,202 62,380 58,486 58,273 61,988 61,988 65,114 65,114 65,114 753,179 756,364 -3,185 0 NET POTENTIAL RENT ADJUSTMENTS Less: Write-offs -150 -25 -25 -25 0 0 0 0 0 0 0 -225 0 -225 N/A Less: Allowance for Doubtful Accounts -1,339 -1,339 -1,339 -1,339 -1,339 -1,339 -1,339 -1,339 -1,406 -1,406 -1,406 -16,341 -16,341 0 0 NET POTENTIAL RENT ADJUSTMENTS -1,489 -1,364 -1,364 -1,364 -1,339 -1,339 -1,339 -1,339 -1,406 -1,406 -1,406 -16,566 -16,341 -225 1 NET RENTAL INCOME 61,713 61,838 61,838 61,016 57,147 56,934 60,649 60,649 63,708 63,708 63,708 736,613 740,023 -3,410 0 OTHER TENANT INCOME Ancillary Income 0 0 51 0 0 118 0 0 0 0 0 169 0 169 N/A Late Charges 325 175 175 175 125 200 0 0 0 0 0 1,175 0 1,175 N/A Utility Reimb.-Tenant 164 344 320 297 179 133 0 0 0 0 0 1,437 0 1,437 N/A Tenant Work Orders 0 0 0 0 319 13,095 0 0 0 0 0 13,414 0 13,414 N/A TOTAL OTHER TENANT INCOME 489 518 546 472 623 13,547 0 0 0 0 0 16,195 0 16,195 N/A EFFECTIVE GROSS INCOME 62,202 62,356 62,384 61,487 57,769 70,480 60,649 60,649 63,708 63,708 63,708 752,808 740,023 12,785 2 VOUCHER REVENUE HUD PHA Operating Grants/Subsidy 0 0 65,289 0 0 0 0 0 0 0 0 65,289 0 65,289 N/A TOTAL VOUCHER REVENUE 0 0 65,289 0 0 0 0 0 0 0 0 65,289 0 65,289 N/A OTHER INCOME Miscellaneous Income 0 0 65,289 317 0 0 0 0 0 0 0 65,606 0 65,606 N/A Interest Income - Unrestricted 20 18 20 21 23 25 21 21 21 21 21 253 251 2 1 TOTAL OTHER INCOME 20 18 65,309 339 23 25 21 21 21 21 21 65,859 251 65,608 26,134 TOTAL OPERATING REVENUE 62,222 62,374 192,982 61,826 57,792 70,505 60,670 60,670 63,729 63,729 63,729 883,956 740,274 143,682 19 OPERATING EXPENSES DIRECT OPERATING EXPENSES ADMINISTRATIVE Labor Expenses Management Labor 4,622 4,622 2,888 2,888 2,888 2,888 4,622 4,622 4,622 4,622 4,622 48,527 55,458 6,931 12 Total Labor Expenses 4,622 4,622 2,888 2,888 2,888 2,888 4,622 4,622 4,622 4,622 4,622 48,527 55,458 6,931 12 Legal Expense Legal-Criminal Background Checks 0 0 0 0 92 0 0 0 0 0 0 92 0 -92 N/A 12 Month Actual to Budget Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 191 of 194211 EXHIBIT: Wellch FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance All Wellington sites (.wellch) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Legal-Tenant Screening 0 0 0 0 0 0 88 88 88 88 88 530 1,060 530 50 Legal-General Expense 348 0 0 150 105 0 7 7 7 7 7 642 79 -563 -715 Total Legal Expense 348 0 0 150 196 0 95 95 95 95 95 1,263 1,139 -125 -11 Management Related Expense Property Management Expense 5,095 5,205 5,207 5,201 4,770 5,853 5,188 5,188 5,188 5,188 5,188 62,458 62,253 -204 0 Accounting/Bookkeeping Expense 5,095 4,990 4,993 4,987 4,556 5,638 5,188 5,188 5,188 5,188 5,188 61,386 62,253 867 1 Board Administration Expense 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083 2,083 25,000 25,000 0 0 Total Management Related Expenses 12,274 12,279 12,283 12,271 11,409 13,574 12,459 12,459 12,459 12,459 12,459 148,844 149,506 663 0 Other Administrative Expenses Staff Training & Conferences 0 0 0 0 0 0 250 250 250 250 250 1,500 3,000 1,500 50 Mileage 176 0 0 0 56 0 39 39 39 39 39 466 467 1 0 Auditing & Tax Services 788 788 788 788 788 788 788 788 788 788 788 9,456 9,456 0 0 Marketing 0 0 0 0 0 0 0 0 0 0 0 0 115 115 100 Resident Relocation 0 0 0 0 0 1,441 0 0 570 0 0 2,012 1,030 -981 -95 Public Housing Disposition 0 0 65,289 0 0 0 0 0 0 0 0 65,289 0 -65,289 N/A Security Services 0 56 165 105 162 0 135 135 135 135 135 1,296 1,616 320 20 Miscellaneous Admin Expenses 0 50 0 0 0 0 0 0 0 0 0 50 0 -50 N/A Total Other Administrative Expenses 964 894 66,242 893 1,006 2,229 1,212 1,212 1,782 1,212 1,212 80,068 15,684 -64,384 -410 Technology Expenses Managed Services - Internal 482 482 482 482 482 482 482 482 482 482 482 5,783 5,783 -1 0 Telephone - Landline|Virtual 47 48 50 50 50 50 0 0 0 0 0 298 0 -298 N/A Internet Services 410 410 830 795 410 480 602 602 602 602 602 6,947 7,228 281 4 Cellular - Phones | Tablets 20 20 20 20 -19 20 0 0 0 0 0 81 0 -81 N/A Total Technology Expenses 959 960 1,382 1,347 923 1,032 1,084 1,084 1,084 1,084 1,084 13,109 13,011 -98 -1 Compliance Expenses Compliance Services - Internal 344 344 344 344 344 344 344 344 344 344 344 4,129 4,129 1 0 Compliance Services - Consultants 0 0 0 0 0 0 168 168 168 168 168 1,005 2,010 1,005 50 Total Compliance Expenses 344 344 344 344 344 344 512 512 512 512 512 5,134 6,139 1,006 16 TOTAL ADMINISTRATIVE EXPENSES 19,511 19,099 83,140 17,894 16,768 20,068 19,983 19,983 20,553 19,983 19,983 296,946 240,938 -56,007 -23 GENERAL EXPENSES Resident Services Resident Services - Internal 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 16,800 16,800 0 0 Resident Services - External 84 84 0 0 0 0 0 0 0 0 0 168 0 -168 N/A Total Resident Services 1,484 1,484 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 16,968 16,800 -168 -1 Utilities Expense Water -4,643 4,969 3,743 6,966 4,610 3,993 5,501 5,501 5,501 5,501 5,501 52,644 66,012 13,368 20 Electricity 972 950 821 816 99 2,454 882 882 882 882 882 11,402 10,580 -822 -8 Electricity-Vacant Units 0 0 0 32 0 0 18 18 18 18 18 138 211 74 35 Gas 1,551 1,314 970 585 0 993 1,009 1,009 1,009 1,009 1,009 11,466 12,107 641 5 Trash Removal Services 1,229 1,391 2,689 19 1,808 1,284 1,104 1,104 1,104 1,104 1,104 15,040 13,242 -1,798 -14 Total Utility Expenses -892 8,624 8,223 8,419 6,517 8,723 8,513 8,513 8,513 8,513 8,513 90,690 102,152 11,462 11 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 192 of 194212 EXHIBIT: Wellch FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance All Wellington sites (.wellch) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Maintenance Expenses Maintenance - On Call 0 0 0 17 0 17 0 0 0 0 0 34 0 -34 N/A Total General Maint Expense 0 0 0 17 0 17 0 0 0 0 0 34 0 -34 N/A Supplies-Grounds 36 18 0 122 129 0 34 34 34 34 34 512 413 -98 -24 Supplies-Appliances 0 0 0 0 14 0 50 0 50 0 0 114 200 86 43 Supplies-Electrical 16 0 0 40 1,395 1,336 100 100 100 100 100 3,388 1,200 -2,188 -182 Supplies-Pest Control 0 0 0 0 0 0 4 4 4 4 4 21 43 21 50 Supplies-Janitorial 0 0 0 0 0 19 32 32 32 32 32 209 381 172 45 Supplies-General 0 0 0 0 0 235 71 71 71 71 71 662 855 193 23 Supplies-Plumbing 124 0 0 91 37 98 187 187 187 187 187 1,469 2,240 770 34 Supplies-Paint 0 0 0 0 0 31 0 0 0 0 0 31 0 -31 N/A Supplies-HVAC 0 0 0 70 0 0 41 41 41 41 41 314 488 174 36 Supplies-Doors 0 131 0 0 0 145 170 170 170 170 170 1,295 2,038 743 36 Supplies-Windows 0 0 0 0 0 246 110 110 110 110 110 906 1,321 415 31 Total Supplies | Materials 176 149 0 322 1,575 2,110 798 748 798 748 748 8,921 9,180 258 3 Contract-Work Orders - Internal 1,798 1,529 1,126 4,036 3,335 7,840 3,167 3,167 3,167 3,167 3,167 38,665 38,003 -663 -2 Contract-Preventative - Internal 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 1,300 15,600 15,600 0 0 Contract-Appliance 0 118 0 224 0 128 0 90 287 0 110 1,024 554 -470 -85 Contract-Carpet Cleaning 0 0 0 0 0 0 0 0 0 0 0 431 431 0 0 Contract-Electrical 0 0 0 0 0 0 195 195 -84 195 195 1,172 2,344 1,172 50 Contract-Pest Control 0 0 0 0 56 0 462 112 462 112 112 1,428 2,744 1,316 48 Contract-Grounds 9,370 3,000 7,453 3,000 0 0 5,370 5,370 5,370 5,370 5,370 55,043 64,441 9,398 15 Contract-Janitorial 0 100 0 0 85 0 153 153 153 153 153 1,103 1,836 733 40 Contract-Plumbing 1,150 385 170 837 611 404 1,114 1,114 1,114 1,114 1,114 10,240 13,363 3,123 23 Contract-HVAC 910 1,825 0 711 1,122 489 413 413 413 413 413 7,537 4,960 -2,577 -52 Contract-Windows 0 0 0 0 0 0 0 0 0 0 0 600 1,517 917 60 Contract-General 736 185 171 133 621 156 899 899 899 899 899 7,399 10,846 3,448 32 Total Contract Costs 15,264 8,442 10,220 10,242 7,131 10,318 13,073 12,813 13,082 12,723 12,834 140,242 156,640 16,398 10 Total Maintenance Expenses - Core 15,440 8,591 10,220 10,581 8,706 12,445 13,872 13,562 13,880 13,472 13,582 149,197 165,819 16,622 10 Unit Turn-Work Order 0 0 0 0 1,806 3,188 425 425 425 425 425 7,544 5,100 -2,444 -48 Unit Turn-External 0 0 0 11,455 0 6,430 708 708 708 708 708 22,134 8,500 -13,635 -160 Unit Turn Materials 0 0 0 368 684 2,048 200 200 200 200 200 4,300 2,400 -1,900 -79 Total Unit Turn Costs 0 0 0 11,823 2,490 11,665 1,333 1,333 1,333 1,333 1,333 33,978 16,000 -17,978 -112 Total Maintenance Expenses 15,440 8,591 10,220 22,404 11,196 24,110 15,205 14,895 15,213 14,805 14,915 183,176 181,819 -1,356 -1 Insurance & Taxes Expenses Insurance - Property 1,853 1,853 1,853 1,853 1,853 1,853 1,413 1,413 1,413 1,413 1,413 19,593 16,953 -2,640 -16 Insurance - Liability 343 343 343 343 343 343 342 342 342 342 342 4,113 4,104 -9 0 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 193 of 194213 EXHIBIT: Wellch FORECAST Total Actual Actual Actual Actual Actual Actual Budget Budget Budget Budget Budget Actual+Original Jan 2025 Feb 2025 Mar 2025 Apr 2025 May 2025 Jun 2025 Jul 2025 Aug 2025 Oct 2025 Nov 2025 Dec 2025 Budget Budget Variance %Variance All Wellington sites (.wellch) Period = Jan 2025-Jun 2025 Book = Accrual ; Tree = ysi_is Insurance - D&O | E&O 38 38 38 38 38 38 56 56 56 56 56 570 678 108 16 Insurance - Specialty | Other 1,566 1,566 1,716 1,716 1,716 1,716 1,804 1,804 1,804 1,804 1,804 20,820 21,648 828 4 Total Tax & Insurance Expenses 3,801 3,801 3,951 3,951 3,951 3,951 3,615 3,615 3,615 3,615 3,615 45,096 43,383 -1,713 -4 Other General Expenses Membership and Fees 0 0 0 0 89 0 0 0 0 0 0 89 91 2 2 Filing Fees 0 0 0 0 0 0 0 0 10 0 0 10 10 0 0 Office Supplies 0 0 0 0 30 20 12 12 12 12 12 122 144 22 15 Postage Usage | Supplies 0 0 0 0 0 0 0 0 0 0 0 0 9 9 100 Small Office Equipment 0 0 0 0 0 0 15 15 15 15 15 90 180 90 50 Miscellaneous General Expense 0 0 0 0 0 0 42 42 42 42 42 252 504 252 50 Total Other General Expenses 0 0 0 0 119 20 69 69 79 69 69 562 938 375 40 Reserve Allowances Reserve Account Funding Allowance 1,050 1,050 1,050 1,050 1,050 1,050 0 0 0 0 0 6,300 0 -6,300 N/A Total Reserve Allowances 1,050 1,050 1,050 1,050 1,050 1,050 0 0 0 0 0 6,300 0 -6,300 N/A TOTAL GENERAL EXPENSES 20,883 23,550 24,843 37,223 24,232 39,254 28,802 28,492 28,820 28,402 28,512 342,792 345,092 2,300 1 TOTAL DIRECT OPERATING EXPENSES 40,394 42,648 107,983 55,117 41,000 59,322 48,785 48,475 49,373 48,385 48,495 639,738 586,030 -53,707 -9 TOTAL OPERATING EXPENSES 40,394 42,648 107,983 55,117 41,000 59,322 48,785 48,475 49,373 48,385 48,495 639,738 586,030 -53,707 -9 NET OPERATING INCOME 21,828 19,725 84,999 6,709 16,792 11,183 11,885 12,195 14,356 15,344 15,234 244,218 154,243 89,975 58 NON-OPERATING INCOME | EXPENSE NON OPERATING EXPENSES Other Financing Costs 0 0 0 0 0 0 0 0 0 0 0 0 500 500 100 0 0 0 0 0 0 0 0 0 0 0 0 500 500 100 Depreciation - Buildings 1,986 1,986 1,986 1,986 1,986 1,986 1,986 1,986 1,986 1,986 1,986 23,838 23,838 0 0 Depreciation - Furn,Fix,Equip - Units 868 868 868 868 868 868 1,015 1,015 1,015 1,015 1,015 11,298 12,175 878 7 Depreciation - Furn,Fix,Equip - Common 989 989 989 989 989 989 711 711 711 711 711 10,203 8,534 -1,669 -20 3,844 3,844 3,844 3,844 3,844 3,844 3,712 3,712 3,712 3,712 3,712 45,339 44,547 -792 -2 TOTAL NON OPERATING EXPENSES 3,844 3,844 3,844 3,844 3,844 3,844 3,712 3,712 3,712 3,712 3,712 45,339 45,047 -292 -1 NET NON-OPERATING INCOME(EXPENSE)-3,844 -3,844 -3,844 -3,844 -3,844 -3,844 -3,712 -3,712 -3,712 -3,712 -3,712 -45,339 -45,047 -292 1 NET INCOME (LOSS)17,984 15,881 81,155 2,865 12,948 7,338 8,173 8,483 10,643 11,632 11,522 198,879 109,196 89,683 82 HOUSING CATALYST | Q2 2025 QUARTERLY BUSINESS UPDATE Page 194 of 194214 8/14/2025 1 Strategic Plan Progress & Outcomes G O A L 7 : A D VA N C E H O U S I N G C ATA LY S T A S A N E M P LOY E R O F C H O I C E Advance Housing Catalyst as an employer of choice G O A L 7 S T R AT E G I E S 1. Equity in hiring, promotion, evaluation, and total compensation 2. An environment of inclusion & belonging 3. Maintain a mindful workplace culture 4. Cultivate psychological safety within and across teams 5. Healthy communication and accountability 6. Cultivate development and retention 1 2 215 8/14/2025 2 O B J E C T I V E : Ensure fairness and transparency in HR processes S T R AT E G Y 1 Equity in hiring, promotion, evaluation, and total compensation •Base all hiring and promotion decisions on merit, qualifications, experience, and abilities. •Substantiate hiring and promotion decisions through assessment and documentation processes. •Clearly communicate about career opportunities. •Base annual merit increases on objective criteria such as goal achievement, performance of job description, and alignment with strategic plan. Clearly communicate performance criteria to all Housing Catalyst employees. •Offer a fair and attractive compensation and benefits plan. Base benchmarks on market-driven data. •Support total worker health, including mental health, through robust health & wellness benefits and workplace wellness support. Key Achievements: •JD audits for accurate job descriptions •Negotiated 0% health insurance rate increase •Offered alternative Employee Assistance Program (EAP) provider (IOME) •Provided education assistance through scholarships •Updated pay plan based on market-driven data •Hosted the second annual health fair •Human Resources Information System (HRIS) transition S T R A T E G Y 1 Equity in hiring, promotion, evaluation, and total compensation 3 4 216 8/14/2025 3 S T R A T E G Y 1 Equity in hiring, promotion, evaluation, and total compensation Key Achievements: •JD audits for accurate job descriptions •Negotiated 0% health insurance rate increase •Offered alternative Employee Assistance Program (EAP) provider (IOME) •Provided education assistance through scholarships •Updated pay plan based on market-driven data •Hosted the second annual health fair •Human Resources Information System (HRIS) transition S T R A T E G Y 1 Equity in hiring, promotion, evaluation, and total compensation Key Achievements: •JD audits for accurate job descriptions •Negotiated 0% health insurance rate increase •Offered alternative Employee Assistance Program (EAP) provider (IOME) •Provided education assistance through scholarships •Updated pay plan based on market-driven data •Hosted the second annual health fair •Human Resources Information System (HRIS) transition 5 6 217 8/14/2025 4 S T R A T E G Y 1 Equity in hiring, promotion, evaluation, and total compensation Key Achievements: •JD audits for accurate job descriptions •Negotiated 0% health insurance rate increase •Offered alternative Employee Assistance Program (EAP) provider (IOME) •Provided education assistance through scholarships •Updated pay plan based on market-driven data •Hosted the second annual health fair •Human Resources Information System (HRIS) transition S T R A T E G Y 1 Equity in hiring, promotion, evaluation, and total compensation Key Achievements: •JD audits for accurate job descriptions •Negotiated 0% health insurance rate increase •Offered alternative Employee Assistance Program (EAP) provider (IOME) •Provided education assistance through scholarships •Updated pay plan based on market-driven data •Hosted the second annual health fair •Human Resources Information System (HRIS) transition 7 8 218 8/14/2025 5 S T R A T E G Y 1 Equity in hiring, promotion, evaluation, and total compensation Key Achievements: •JD audits for accurate job descriptions •Negotiated 0% health insurance rate increase •Offered alternative Employee Assistance Program (EAP) provider (IOME) •Provided education assistance through scholarships •Updated pay plan based on market-driven data •Hosted the second annual health fair •Human Resources Information System (HRIS) transition S T R A T E G Y 1 Equity in hiring, promotion, evaluation, and total compensation Key Achievements: •JD audits for accurate job descriptions •Negotiated 0% health insurance rate increase •Offered alternative Employee Assistance Program (EAP) provider (IOME) •Provided education assistance through scholarships •Updated pay plan based on market-driven data •Hosted the second annual health fair •Human Resources Information System (HRIS) transition 9 10 219 8/14/2025 6 O B J E C T I V E : Cultivate an inclusive and supportive work environment S T R AT E G Y 2 An environment of inclusion & belonging •Cultivate unity with a diversity and inclusion program based on mutual care. Support the creation of truly inclusive spaces through education. •Do not reinforce stereotypes. Treat employees and residents as individual human beings, not abstractions. •Communicate feedback with the goal to uplift and empower the recipient. Help all employees reach for their potential. •Root interactions in care and compassion. S T R A T E G Y 2 An Environment of Inclusion & Belonging Key initiatives: •Annual in-person Harassment Prevention Training •Sessions with Chloe Valdary on Depolarization, Inclusion, and Belonging •Quarterly in-person all-staff meetings 11 12 220 8/14/2025 7 S T R A T E G Y 2 An Environment of Inclusion & Belonging Key initiatives: •Annual in-person Harassment Prevention Training •Sessions with Chloe Valdary on Depolarization, Inclusion, and Belonging •Quarterly in-person all-staff meetings S T R A T E G Y 2 An Environment of Inclusion & Belonging Key initiatives: •Annual in-person Harassment Prevention Training •Sessions with Chloe Valdary on Depolarization, Inclusion, and Belonging •Quarterly in-person all-staff meetings 13 14 221 8/14/2025 8 O B J E C T I V E : Promote Mindfulness and Well-Being Among Employees Partnership with Dr. Diane Biray Gregorio of Emotional Rescue Courses: •Two-day intro training on the Emotional Rescue Method for new employees •One-Day Emotional Rescue Method refresher for all employees S T R AT E G Y 3 Maintain a mindful workplace culture •Make evidence-based decisions to implement organizational mindfulness practices. Model these in all internal meetings, and external meetings as appropriate. •Design organizational initiatives to consider performance together with the collective social impact of Housing Catalyst’s business. •Create opportunities for education and practice to cultivate the human capacity to respond with awareness of what is happening within one’s mind, body, and the wider environment. Pay attention to purpose and the present moment. •Aim mindfulness practices to benefit employees and teams through enriched physical health and mental well-being, enhanced relationships, heightened leadership abilities, and improved work performance. •Develop mindful leaders who demonstrate resilience in the face of adversity, collaborative abilities, and the capacity to thrive in complex environments. •Mindfulness programs allow employees to be more alert, more focused, more present, more collaborative, more resilient, more compassionate, less reactive, and less stressed. O B J E C T I V E : Prioritize Psychological Safety Through Training and Communication Key initiative: •In-person training on delivering effective feedback S T R AT E G Y 4 Cultivate psychological safety within and across teams •Create brave environments where members openly share ideas with a sense of confidence. •Do not embarrass or reject individuals for speaking up with different or new ideas. •Cultivate a learning posture which strives for excellence and innovation in operations. •Admit mistakes and bring up difficult topics. •Learn from errors together. 15 16 222 8/14/2025 9 O B J E C T I V E : Maintain Open Lines of Communication and Ensure Accountability S T R AT E G Y 5 Healthy communication and accountability •Model honesty and transparency. •Learn from each other, respect each other, and ask the right questions. •Share official announcements with employees in writing through clear, united statements. •Disagree respectfully. Actively listen to others’ thoughts, assume the best of their motivations, and make a genuine effort to see their perspective. •Be assertive. Say what needs to be said directly, without hedging or apologizing. •Set and agree to clear targets. Utilize technology such as dashboards to share whether teams are achieving their targets. S T R A T E G Y 5 Healthy Communication and Accountability Key Efforts: •Representing Housing Catalyst at industry conferences •Annual presentation on pay plan and compensation philosophy •Policies for background checks and financial background checks 17 18 223 8/14/2025 10 S T R A T E G Y 5 Healthy Communication and Accountability Key Efforts: •Representing Housing Catalyst at industry conferences •Annual presentation on pay plan and compensation philosophy •Policies for background checks and financial background checks S T R A T E G Y 5 Healthy Communication and Accountability Key Efforts: •Representing Housing Catalyst at industry conferences •Annual presentation on pay plan and compensation philosophy •Policies for background checks and financial background checks 19 20 224 8/14/2025 11 O B J E C T I V E : Nurture talent and leadership within the organization S T R AT E G Y 6 Cultivate development and retention •Apply forward-thinking strategies to groom the next generation of effective leaders to serve residents, communities, and employees. •Centralize talent management. Develop talent across the organization. Teach, coach, and mentor high potential employees. •Hire great people, develop them through robust performance management and frequent feedback, and expose them to a variety of development experiences that build knowledge, perspective, and skills. •Support a culture of development from within through HR systems such as performance management, compensation, and job assignments. •Develop leaders who have the desired competency to deliver on strategies that add value for stakeholders. Nurture leaders who deliver impactful results for our residents, communities, and employees. S T R A T E G Y 6 Cultivate Development & Retention Key Initiatives: •Partnership with HR Soul for training and development •Successful recruitment across departments •Reduced Work Schedule (RWS) Pilot Program with positive results 21 22 225 8/14/2025 12 S T R A T E G Y 6 Cultivate Development & Retention Key Initiatives: •Partnership with HR Soul for training and development •Successful recruitment across departments •Reduced Work Schedule (RWS) Pilot Program with positive results S T R A T E G Y 6 Cultivate Development & Retention Key Initiatives: •Partnership with HR Soul for training and development •Successful recruitment across departments •Reduced Work Schedule (RWS) Pilot Program with positive results 23 24 226 8/14/2025 13 ALINTNER@ HOUSINGCATALYST.COM 25 227 Reduced Work Schedule Pilot R E S U L T S & I N S I G H T S 228 A P R I L 2 0 2 5 Results & Insights 2 TABLE OF CONTENTS Executive Summary ....................................................................................................................................... 3 Key Findings .............................................................................................................................................. 3 Independent Evaluation ............................................................................................................................ 5 Recommendations .................................................................................................................................... 6 Program Evolution .................................................................................................................................... 7 Agency-Wide Impact Analysis ....................................................................................................................... 8 Key Metrics ............................................................................................................................................... 8 Key Insights ............................................................................................................................................. 13 Departmental Performance Analysis .......................................................................................................... 14 Patterns of High-Performing Pilot Teams ............................................................................................... 14 Department-Specific Performance ......................................................................................................... 15 Conclusion and Path Forward ..................................................................................................................... 18 Technology Infrastructure ...................................................................................................................... 18 Flexible Implementation Strategy ........................................................................................................... 18 Performance Management Framework ................................................................................................. 18 Appendix A .................................................................................................................................................. 19 Employee Satisfaction and Wellbeing Trends ......................................................................................... 19 Sick & Vacation Time Utilization ............................................................................................................. 21 Staff Retention/Turnover Metrics........................................................................................................... 22 Appendix B .................................................................................................................................................. 23 Department-Specific Performance Details ............................................................................................. 23 229 A P R I L 2 0 2 5 Results & Insights 3 Executive Summary From September 2023 to February 2025, Housing Catalyst implemented an 18-month reduced work pilot program based on the 100-90-100 principle (100% productivity, 90% hours, 100% compensation). 74 employees across 9 departments opted in to participate in this initiative designed to enhance employee well-being, improve retention, and increase organizational efficiency without compromising performance. The pilot delivered significant results. Participants reported lower stress, improved work-life balance, and fewer unplanned absences. The organization saw a 33% reduction in vacation and sick leave use and a notable 10.3% decrease in turnover rates. Although Reduced Work Schedule (RWS) hours carried a cost, they were offset by reduced leave usage and efficiency gains from a net reduction in full-time equivalent staffing. Overall, the pilot resulted in a net economic benefit of $240,329 during the pilot phase while maintaining or improving productivity across most departments—demonstrating that with thoughtful implementation, the RWS model is both sustainable and impactful. KEY F INDINGS Based on these findings, we recommend a differentiated implementation approach: • Permanent program adoption for high-performing departments • Extended pilot with modifications for departments showing mixed results, and • Program redesign for struggling departments. S U C C E S S F A C T O R S •Departments with clear performance metrics, strong accountability systems, and employee-driven process improvements demonstrated the most success. T E C H N O L O G Y •Infrastructure limitations affected cross- departmental coordination. S C H E D U L I N G •Flexibility emerged as a critical success factor for program sustainability. 230 A P R I L 2 0 2 5 Results & Insights 4 Organizational Impact The program demonstrated measurable improvements across multiple dimensions: OPERATIONAL METRICS & FINANCIAL IMPACT The program's financial impact primarily focuses on optimizing labor investment rather than direct cost reduction. With labor costs making up 83% of Housing Catalyst's operating expenses, the program has successfully increased the return on this significant investment: • Productivity & Efficiency Gains: Despite reducing scheduled work hours, productivity was maintained or improved across most departments. Employees absorbed the workload equivalent of six eliminated FTEs, averaging an additional 2.9 hours of work per person per week. Simultaneously, RWS participants reduced their scheduled time by 1.5 hours/week, resulting in increased efficiency and workload balance. • Resource Optimization: Key achievements in resource utilization include: o 33% reduction in sick and vacation time usage, resulting in an economic value of $514,538 over the 18-month pilot (estimated annual value: $343,025). o 10.3% decrease in turnover rates, leading to an estimated $103,848 in avoidable replacement costs over the 18-month pilot (annual value: $69,232). o $509,346 in direct salary savings from a net reduction of 1.5 FTEs, made possible by operational efficiencies gained during the RWS pilot.  These savings were partially offset by the cost of RWS hours taken, totaling ($783,555) over the program's duration. After accounting for all offsets, the pilot resulted in a net economic benefit of $240,329 over 18 months.  While FTE reductions were not initially tied to the RWS initiative, the program's efficiency gains enabled the organization to sustain these staffing adjustments without performance loss. This demonstrates that RWS contributed to cultural, operational improvements, and measurable cost reduction. EMPLOYEE WELL-BEING & PRODUCTIVITY Beyond quantifiable metrics, the program has generated additional value through enhanced employee wellbeing, improved work quality, and strengthened organizational culture. • Participants reported significantly less work-life interference and fatigue compared to non- participants0F 1 • Program participants demonstrated "improved efficiency, better focus, streamlined workflows, and increased productivity”1F 2 • Additional recovery time particularly beneficial for working parents, helping prevent burnout 1 CSU Evaluation Report, p.5 2 CSU Evaluation Report, p.4 231 A P R I L 2 0 2 5 Results & Insights 5 • Strong organizational support maintained, with over 90% of employees viewing Housing Catalyst as supportive2F 3 INDEPENDENT EVALUATION To ensure objective assessment of the program's impact, Housing Catalyst partnered with Colorado State University occupational health researchers Drs. Morgan Valley and Lorann Stallones, who conducted an independent evaluation throughout the pilot. Their comprehensive study included three surveys of approximately 70 employees between February 2024 and February 2025, measuring key metrics such as work stress, productivity, and organizational support. The researchers also conducted qualitative interviews to capture nuanced feedback about program implementation. Their findings confirmed that 74% of program participants reported having adequate time to complete tasks by February 2025, significantly outperforming non-participants.3F 4 This independent validation strengthens the case for program continuation with targeted improvements. 3 CSU Evaluation Report, p.3 4 CSU Evaluation Report, p.2 232 A P R I L 2 0 2 5 Results & Insights 6 RECOMMENDATIONS Differentiated Implementation Approach • Implement the program permanently for high-performing departments (Development, Property Management, Rental Assistance, Talent Management, Communications, Jumpstart, and IT). • Extend the pilot with a modified structure for departments showing mixed results (Finance, RS). • Pause and redesign the program for struggling departments (Maintenance, PSH). Infrastructure Improvements • Implement unified technology solutions, addressing the observation that "to optimize our productivity, we need some more system efficiencies"4F 5 • Standardize cross-departmental communication protocols Performance Management • Program Tracking: Establish department-specific success metrics (like Development's deadline tracking or IT's response time standards), create reporting systems accommodating different work models, and conduct regular check-ins. • Schedule Management: Maintain scheduling flexibility, which was identified as a key success factor in the CSU study.5F 6 Allow departments to adjust schedules based on workload demands (e.g., Finance during month-end). • Accountability Framework: o Develop clear protocols for schedule adjustments o Establish specific performance expectations for program participation, including clear guidelines for utilizing reduced hours (e.g., maintaining coverage during peak times), well-defined expectations for work completion and deadlines, and department-specific metrics that align with operational needs, as demonstrated by successful departments in the study. o Track productivity metrics (work completion rates, meeting deadlines, service delivery standards, etc.). Staffing Considerations • Pause further staff reductions for the next 12 months: While the Reduced Work Schedule (RWS) pilot has demonstrated financial and operational benefits, data suggests that staffing may have been reduced too tightly. Employees are absorbing the equivalent of 2.7 extra hours per week, while RWS participants are only reducing their work time by 1.5 hours/week. • Focus on process improvements and efficiencies: Instead of adding positions immediately, prioritize creating process improvements and efficiencies to provide teams with more breathing room. This will allow staff to get closer to the intended RWS benefit without sacrificing performance. 5 CSU Evaluation Report, p.4 6 CSU Evaluation Report, p.7: Employee recommendations emphasized "continued flexibility" and the ability to "use it whenever we want" as crucial program elements. 233 A P R I L 2 0 2 5 Results & Insights 7 PROGRAM EV OLUTION Research Basis The reduced schedule pilot drew inspiration from pioneering workplace innovation research, particularly Andrew Barnes' "The 4 Day Week" and Alex Soojung-Kim Pang's "Shorter" and "Rest." While Barnes' original framework used a 100-80-100 principle (100% productivity, 80% hours, 100% compensation), Housing Catalyst adapted this to a 100-90-100 model for our implementation. This modified approach allowed employees to work 90% of regular hours (36 hours instead of 40 hours per week) while maintaining full productivity and compensation. Pang's research on rest and focused work informed our approach to enhancing organizational effectiveness through improved work-life balance. Initial Implementation (V1: September 2023-August 2024) The pilot launched with the fundamental 100-90-100 principle, allowing employees to work 36 hours instead of 40 hours per week (or 8 hours less per pay period) while maintaining full compensation and expected productivity. Key features of V1 included: • Voluntary participation with department-level approval • Minimal structure around implementation methods • Basic productivity tracking through existing systems • Core hours (9:00am – 3:00pm, Tuesday-Thursday) to ensure team coordination • Employee-led discussions about maintaining output • Limited cross-departmental coordination requirements • Emphasis on flexibility and experimentation During this phase, departments were given significant autonomy to determine how to implement reduced hours, resulting in varied approaches. Some teams opted for full days off, while others reduced daily hours. This flexibility allowed for organic development of best practices but also created challenges in consistency and measurement. The CSU evaluation provided critical insights that informed program adjustments between V1 and V2 implementation phases. Program Adjustments (V2: September 2024-February 2025) Based on first-year learnings, several critical adjustments were implemented for V2: • Enhanced Accountability Framework: Clear protocols for reinstating 80-hour schedules when productivity declined • Strengthened Cross-Team Coordination: Departments coordinated coverage during core hours • Expanded Supervisor Discretion: Authority to determine schedule structure and adjust based on seasonal workload • Clearer Performance Expectations: More structured approach to productivity measurement • Greater Emphasis on Program as Reward: Participation tied more explicitly to performance These refinements addressed key challenges identified during V1 while preserving the core benefits of the program. The structured approach in V2 provided better data for evaluation while maintaining the flexibility that employees valued. 234 A P R I L 2 0 2 5 Results & Insights 8 Agency-Wide Impact Analysis The reduced schedule program's effects were measured across Housing Catalyst from September 2023 through February 2025, spanning both implementation phases (V1 and V2). This analysis combines internal metrics with an independent evaluation conducted by Colorado State University researchers between February 2024 and February 2025, which included three comprehensive surveys of approximately 70 employees. The evaluation examines key organizational metrics including employee wellbeing, sick time usage, staff retention, and team coordination, comparing our results to industry standards and national trends. KEY M ETRICS Context: Connecting Soft and Hard Factors The reduced schedule program's impact can be measured through both "soft" factors (employee wellbeing, satisfaction, stress levels) and "hard" factors (sick time usage, turnover rates, productivity metrics). These elements are deeply interconnected – improvements in wellbeing and work-life balance directly contribute to reduced sick time usage and higher retention rates, which translate to measurable financial benefits. The CSU study confirmed this relationship, finding that program participants consistently reported lower stress levels6F 7 and better work-life balance7F 8 compared to non-participants. These improvements in soft factors directly contributed to enhanced hard metrics: a 33% reduction in sick and vacation time usage and a 10.3% decrease in turnover rates, generating approximately $240,329 in net economic benefit over the 18-month pilot. This represents a significant return on investment rather than direct cost savings, as we're effectively getting more productivity and engagement from the same labor expenditure. 7 CSU Evaluation Report (2025), p.1: Key findings on work stress and organizational support 8 CSU Evaluation Report (2025), p.5: Work-life balance and fatigue data 235 A P R I L 2 0 2 5 Results & Insights 9 Hard Metrics (Operational & Financial) The reduced schedule program achieved a dramatic 33% decrease in sick and vacation time usage from baseline to V2 implementation, demonstrating significant improvements in employee wellbeing and work capacity. After an initial adjustment period during V1, turnover rates stabilized at 2.6% during V2 implementation, outperforming both the pre-pilot baseline and the public housing sector average of 3.1%. 0 5 10 15 20 25 30 Hrs/Month Sick & Vacation Time Usage Pre-Pilot V1 V2 0.00%0.50%1.00%1.50%2.00%2.50%3.00%3.50% Monthly Turnover Rates Pre-Pilot V1 V2 236 A P R I L 2 0 2 5 Results & Insights 1 0 The reduced schedule program yielded an estimated $240,329 in net economic value by optimizing our existing labor budget. This gain resulted from a combination of factors: a 33% reduction in sick and vacation leave usage, efficiency-driven FTE reductions, and improved employee well-being and performance stability. These financial benefits were partially offset by the cost of RWS hours taken. Additionally, the program contributed to an estimated $103,848 in avoided turnover costs, further demonstrating its overall value to the organization. The program's financial impact is particularly significant given that labor costs represent 83% of Housing Catalyst's operating expenses. Total ROI from the reduced work schedule is proportional 2.4% of HC’s labor budget, or 2% of our total operating budget. $514,538 $509,346 $(783,555)($1,000,000) ($800,000) ($600,000) ($400,000) ($200,000) $0 $200,000 $400,000 $600,000 Annual Value Financial Impact Sick & Vacation Time Reduction FTE Reduction Savings RWW Cost 2025 Operating Expenses Labor Budget ROI Portion of Labor Budget Other Operating Expenses 237 A P R I L 2 0 2 5 Results & Insights 1 1 Soft Metrics (Employee Wellbeing) 8F 9 Program participants consistently reported experiencing work stress only 'sometimes' (a few times a week) compared to non-participants who reported stress 'often' (daily), highlighting a key wellbeing benefit of the reduced schedule. 9F 10 Employees participating in the reduced schedule program reported significantly less work-life interference than their non-participating colleagues, confirming the program's effectiveness in improving work-life balance. 9 CSU Evaluation Report p.5 10 CSU Evaluation Report p.6 238 A P R I L 2 0 2 5 Results & Insights 1 2 10F 11 Throughout the pilot period, between 91-97% of employees viewed Housing Catalyst as supportive, demonstrating that strong organizational culture was maintained during program implementation. 11F 12 These visualizations demonstrate the program's positive impact across multiple dimensions, with particularly strong results in V2 implementation as departments refined their approaches.12F 13 11 CSU Evaluation Report p. 3 12 CSU Evaluation Report, p.2 13 See Appendix A for more detailed Employee Satisfaction and Wellbeing Data 239 A P R I L 2 0 2 5 Results & Insights 1 3 KEY INSIGHTS Program Impact on Work-Life Balance • 33.1% reduction in sick/vacation time utilization • CSU study confirms significantly less work-life interference among participants • Participants report better stress management and recovery time • Additional recovery time particularly beneficial for working parents Employee Satisfaction and Organizational Support • 91-97% of employees view Housing Catalyst as supportive • High job satisfaction maintained across all employee groups • March 2025 eNPS score of 20 shows positive recovery trend • Strong relationship scores maintained throughout implementation Productivity and Focus Improvements • Participants reported improved efficiency and streamlined workflows • Better focus on high-priority tasks • Enhanced ability to manage workload within reduced hours • Successful adaptation to new schedule demonstrated by metrics Clear Participant vs. Non-Participant Differences • Participants experience less work stress and fatigue • Non-participants report more work overload • Program benefits clearly demonstrated through comparative data 240 A P R I L 2 0 2 5 Results & Insights 1 4 Departmental Performance Analysis PATTERNS OF HIGH -PERFORMING PILOT TEAMS The most successful departments shared several key characteristics that enables them to thrive under the reduced schedule model: Clear performance metrics and tracking • All departments established specific, measurable outcomes • Regular monitoring systems in place (e.g., Nicole's spreadsheets, Development's Smartsheet, Communications' project tracking) • Consistent achievement or exceeding of baseline metrics Strong accountability systems • Clear protocols for when RWS can/cannot be used • Teams demonstrating proactive schedule adjustment during high-demand periods • Understanding that reduced hours are earned through performance Employee-driven process improvements • Teams actively identifying efficiency opportunities • Staff creating and refining their own workflows • Continuous improvement mindset Effective leadership engagement • Regular check-ins with supervisors • Clear communication of expectations • Supportive but firm management approach 241 A P R I L 2 0 2 5 Results & Insights 1 5 DEPARTMENT-S PECIFIC P ERFORMANCE High-Performing Teams SAMPLE OF KEY METRICS Development 100% deadline completion Property Management Occupancy at 97% or above; Delinquency <5% actual rent; Lease turn times <15 days Rental Assistance 98% on-time recertifications; Exceptional audit scores; HAP adjustments below allowable amount Talent Management 99.5% payroll accuracy; 24–48-hour response times; 100% audit pass Communications IT 97% ticket response time compliance; 95% resolution rate; 4/4 customer satisfaction JumpStart Exceeding HUD standards These departments successfully maintained or improved productivity while reducing hours through effective systems, clear metrics, and strong accountability.13F 14 14 See Appendix B for more in-depth department-specific performance HIGH-PERFORMING DEPARTMENTS Clear Performance Metrics and Tracking Strong Accountability Systems Employee-Driven Process Improvements Effective Leadership Engagement STRUGGLING DEPARTMENTS Developing Appropriate Metics Evolving Program Understanding Need for Process Optimization Strengthen Leadership Participation 242 A P R I L 2 0 2 5 Results & Insights 1 6 Implementation Challenges SAMPLE CHALLENGES FOR STRUGGLING TEAM S Maintenance Difficulty with metrics, program philosophy Finance Workload fluctuations, Team-level differences, Understaffing Resident Services Struggle quantifying relationship-based work PSH 24/7 resident needs Common patterns among struggling departments included difficulty defining appropriate productivity metrics, significant team-level variation in results, and unpredictable workload demands that complicated schedule reduction Participation Rates Across Departments This chart illustrates the average proportion of employees from each department over the entire pilot program who voluntarily participated in the reduced schedule pilot program versus those who chose not to participate. This volunteer participation data is distinct from the utilization rates shown below. 0.0 5.0 10.0 15.0 20.0 25.0 40-Hour Employees Participants Non-Participants 243 A P R I L 2 0 2 5 Results & Insights 1 7 Utilization of Reduced Work Schedule time varies across departments, reflecting a healthy alignment with operational realities. Departments like IT (72.3%) and Maintenance (65.5%) are among the highest utilizers of available RWS hours, while areas such as Talent Management (46.8%) and the Executive team (43.4%) use less, indicating that teams are effectively self-regulating based on workload, service needs, and performance expectations. 56.3% 43.4% 59.9% 72.3% 63.3%63.9%59.9%63.6%65.5% 46.8% 64.4% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 70.0% 80.0% RWS Utilization Rate by Dept RWW Success Rate by Dept 244 A P R I L 2 0 2 5 Results & Insights 1 8 Conclusion and Path Forward The 18-month reduced work schedule pilot has demonstrated both measurable financial benefits and improved employee outcomes: • Measurable improvements in employee well-being and work-life balance • Realization of $514,538 in net economic value from reduced sick and vacation leave usage over the pilot period. • Stabilized turnover rates below industry averages. Additional value creation of $103,848 from decreased turnover cost avoidance. • Strong organizational support (91-97% positive perception) • Successful adaptation and self-regulation of schedule utilization by multiple departments Based on employee feedback and CSU's evaluation, we recommend the following strategic priorities to optimize the reduced work schedule program: TECHNOLOGY INFRASTRUCTURE We recommend prioritizing technology investments to address current inefficiencies identified in the CSU study. Specifically, the implementation of unified systems would streamline cross-departmental coordination and reduce manual processes. As one participant noted, "to optimize our productivity, we need some more system efficiencies" (CSU Report, p.4). These improvements would support sustainable program expansion while maintaining service levels. F LEXIBLE I MPLEMENTATION S TRATEGY The data strongly supports maintaining program flexibility while implementing a more structured framework. The CSU study shows that 75-81% of participants report schedule flexibility (CSU Report, p.2), contributing to improved work-life balance and reduced stress levels. We recommend continuing department-specific approaches while establishing clearer guidelines for program participation and performance expectations. PERFORMANCE MANAGEMENT FRAMEWORK We recommend creating a clear system to measure program success that works for each department's unique needs. The CSU study shows that when departments had specific ways to track their progress (like Development's deadline tracking or IT's ticket response times), they adapted better to the reduced schedule. Based on this finding, we recommend: 1. Working with each department to define what success looks like for their team 2. Setting up regular check-ins to ensure the program is working as intended 3. Continuing to evaluate the program's impact on both employee wellbeing and productivity This approach would help ensure that all departments can participate in the program while maintaining their service levels and meeting their unique operational requirements. These recommendations align with Housing Catalyst's commitment to innovative workplace practices while addressing key challenges identified during the pilot. The CSU evaluation confirms strong organizational support (91-97%) for these initiatives, positioning us well for successful program evolution. 245 A P R I L 2 0 2 5 Results & Insights 1 9 Appendix A EMPLOYEE SATISFACTION AND WELLBEING TRENDS National Context • Post-pandemic workplace satisfaction averages 3.7 on 5-point scales (Gallup, 202314F 15) • Alternative schedule organizations typically see 15-20% higher satisfaction scores15F 16 • Industry average for public sector wellbeing: 3.8/516F 17 Housing Catalyst Metrics CSU STUDY FINDINGS (FEBRUARY 2024 – FEBRUARY 2025) • Work Stress: Program participants consistently reported lower stress levels compared to non- participants, with stress occurring "sometimes" (a few times a week) rather than "often" (daily)17F 18 • Work-Life Balance: Participants experienced significantly less work-life interference than non- participants18F 19 • Organizational Support: 91-97% of employees viewed Housing Catalyst as supportive, regardless of program participation • Job Satisfaction: High levels maintained across all employee groups throughout the study period19F 20 • Focus & Productivity: Participants reported improved efficiency and better focus on high- priority tasks20F 21 INTERNAL WELLBEING METRICS (SCALE 1 -5) Happiness scores fluctuated throughout the pilot: • Pre-pilot peak: 4.2 (April 2023) • V1 maintained consistent levels (3.7-4.2) • V2 showed slight decline to 3.3-3.4 Company Motivators showed improvement during V1: • Increased from 3.5 (Pre-pilot) to 4.2 (January 2024) • Declined during V2 to 3.2-3.6 15 Gallup (2023). "State of the Global Workplace: 2023 Report" Page 12: Post-pandemic satisfaction metrics. Available at: www.gallup.com/workplace/349484/state-of-the-global-workplace-2023-report.aspx 16 Society for Human Resource Management (2023). "Employee Benefits Survey" Pages 24-26: Alternative schedule satisfaction data. Report ID: SHRM-2023-EB. Available at: www.shrm.org/research-and-surveys/reports/2023-employee-benefits 17 Bureau of Labor Statistics (2024). "American Time Use Survey" Table 3, Section 2.1: Public sector wellbeing metrics. Release date: January 2024. Available at: www.bls.gov/tus/ 18 CSU Evaluation Report (2025), p.1: Key findings on work stress and organizational support 19 CSU Evaluation Report (2025), p.5: Work-life balance and fatigue data 20 CSU Evaluation Report (2025), p.2: Job satisfaction and workplace perceptions 21 CSU Evaluation Report (2025), p.4: Focus and productivity findings 246 A P R I L 2 0 2 5 Results & Insights 2 0 Relationship scores remained relatively stable: • Ranged from 3.3 to 4.3 throughout the pilot • Ended at 4.1 in January 2025 EMPLOYEE SATISFACTION SCORES Notable fluctuation observed: • Pre-pilot: Improved from 41 to 47 • V1: Decreased from 44 to 32 • V2: Initial decrease to 9 in September 2024, with significant recovery to 20 by March 2025 Analysis • Despite fluctuations in satisfaction scores, the CSU study shows consistent positive perceptions of organizational support • Program participants demonstrated better work-life balance and stress management compared to non-participants • Recovery in satisfaction scores (from 9 to 20) suggests successful adaptation to program changes • Relationship scores remained strong throughout implementation, ending at 4.1 in January 2025 247 A P R I L 2 0 2 5 Results & Insights 2 1 SICK & VACATION TIME UTILIZATION National Context • Public sector average: 28 days/year (BLS, 2024)21F 22 • Organizations with flexible schedules see 30-40% reduction in sick time Housing Catalyst Metrics USAGE PATTERNS • Baseline (Sep '22-Aug '23): 28.4 hours/month average • V1 (Sep '23-Aug '24): 20.4 hours/month average (28.2% reduction) • V2 (Sep '24-Feb '25): 19.4 hours/month average (33.1% reduction from baseline) FINANCIAL IMPACT (18 MONTH PILOT – USING 2024 FIGURES) • Average annual cost per FTE: $103,011 ($9,157,634/88.9 FTE)22F 23 • Hourly cost: $49.52 (based on 2080 annual hours) Annual Sick/Vacation Time Costs: • Baseline (227.2 hrs): $11,251/employee; 10.9% • V1 (163.2 hrs): $8,082/employee; 7.8% • V2 (155.2 hrs): $7,686/employee; 7.5% Organization-Wide Annual Impact (88.9 FTE): • Baseline cost: $1,170,108 • Current cost (V2): $737,848 18-Month value optimization: $514,538; $343,025 per Annum Operational Context: Labor represents 83% of 2025 operating costs 22 Bureau of Labor Statistics (2024). "Absence from work of employed full-time wage and salary" Tables A-1 and A-6: Public sector average hours. Release date: February 2024. Available at: www.bls.gov/cps/absences.htm 23 Historical Context (2018-2024): FTE growth: 80.7% (49.2 to 88.9). Wage growth: 149.8% ($3.67M to $9.16M). Average cost per FTE, 2018: $74,518.46. 2024: $103,011. 38% increase in per-FTE cost Analysis • Value Optimization: The financial impact of the reduced schedule program is amplified by rising labor costs, underscoring its strategic importance given that labor accounts for 83% of operating costs. • Program Effectiveness: The program's success is demonstrated by the significant reduction in sick time during a period of substantial organizational growth. 248 A P R I L 2 0 2 5 Results & Insights 2 2 STAFF RETENTION/TURNOVER METRICS National Context • Public housing sector average: 3.1% monthly turnover23F 24 • Colorado regional average: 2.8% monthly24F 25 • Post-pandemic adjustment period showing higher volatility Housing Catalyst Metrics MONTHLY TURNOVER RATES • Pre-Pilot (Sep 2021-Aug 2023): 2.9% Average Monthly Turnover25F 26 • V1 (Sep 2023-Aug 2024): 3.2% Average Monthly Turnover26F 27 • V2 (Sep 2024-Feb 2025): 2.6% Average Monthly Turnover27F 28 FINANCIAL IMPACT ANALYSIS 28F29 The reduction from Pre-Pilot (2.9%) to V2 (2.6%) represents: • Turnover reduction: 10.3%29F 30 • Monthly value optimization: $5,76930F 31 • Annual value optimization: $69,23231F 32 24 NAHRO Industry Staffing Report (2023) Chapter 3: Workforce Trends. Pages 28-32: Public housing turnover rates. Report ID: NAHRO-ISR-2023 25 Colorado Department of Labor and Employment (2024) Q4 2023/Q1 2024 Regional Labor Market Information Tables 2.3 and 2.4: Regional turnover averages. Available at: www.colmigateway.com 26 Average FTE: 83.9 (2021-2023 average). Average Annual Wages: $6.98M. Monthly Impact: 2.43 FTE turnover. Estimated Annual Turnover Cost: $2.44M 27 FTE: 88.9. Annual Wages: $9.16M. Average Salary per FTE: $103,011. Monthly Impact: 2.84 FTE turnover. Estimated Annual Turnover Cost: $3.51M 28 FTE: 88.9. Annual Wages: $9.16M. Average Salary per FTE: $103,011. Monthly Impact: 2.31 FTE turnover. Estimated Annual Turnover Cost: $2.85M 29 Estimated turnover savings are based on an average replacement cost of 21% of annual compensation, as outlined in the Center for American Progress report, “There Are Significant Business Costs to Replacing Employees” (2012). This percentage reflects direct costs such as recruitment, onboarding, and training, and is commonly used in public and nonprofit sector modeling. Available at: https://www.americanprogress.org/article/there-are-significant-business-costs-to-replacing-employees/ 30 0.3 (difference between V2 turnover and pre-pilot turnover)/2.9 (pre-pilot average monthly turnover) × 100 31 2.43 (Pre-Pilot monthly turnover rate) – 2.31 (V2 monthly turnover rate) x $103,011 (2024 average salary including benefits) 32 $5,769 × 12. Calculation based on 2024 wages. Due to increased wages, the actual cost difference shows an increase despite reduced turnover. Analysis • HC's stabilization at 2.6% outperforms sector average. Pattern follows expected implementation curve for major changes 249 A P R I L 2 0 2 5 Results & Insights 2 3 Appendix B DEPARTMENT-S PECIFIC P ERFORMANCE D ETAILS Real Estate Development Recommendation: Implement Permanent Program PERFORMANCE HIGHLIGHTS • 100% completion rate of externally-controlled deadlines (funding applications, investor deadlines, compliance filings) • Successfully maintaining all project timelines tracked in Smartsheet • Zero performance interventions required during V1 and V2 implementation • Demonstrated efficiency improvements through specific process refinements, focused on routine and repetitive tasks • Expanded productivity while reducing work hours from 80 to 7532F 33 • Proactive identification of cross-departmental technology inefficiencies SUCCESS FACTORS • Detailed Smartsheet tracking system for deadline management • Specific protocols for RWS usage based on project timelines • Clear accountability metrics for workload management • Regular project status reviews in team meetings • Documented process for handling external delays • Systematic approach to timeline adjustments RECOMMENDATION DETAILS 1. Implement Permanent Program with current deadline tracking system, existing workload management protocols, and proven accountability measures 2. Supporting Actions: o Implement unified technology solutions by Q3 2025:  Continued Smartsheet optimization o Promote standardized cross-departmental communication and software usage:  Establish email protocols and meeting efficiency guidelines.  Ensure uniform adoption of YARDI, Teams, and Smartsheet usage standards.  Strategically utilize software, recognizing each platform's strengths and weaknesses, and using tools for their intended purposes. o Support transition from Common drive to cloud file storage o Maintain current performance tracking systems 33 Although the program model is designed for a reduction to 72 hours, the usage data suggests that the Development department's actual schedule reduction is closer to 75 hours. 250 A P R I L 2 0 2 5 Results & Insights 2 4 Property Management Recommendation: Implement Permanent Program PERFORMANCE HIGHLIGHTS • Maintained key performance metrics throughout reduced schedule: o Occupancy rates consistently at or above 97% o Delinquency maintained below 5% of actual rent o Recertifications completed 30 days prior to effective date o Unit turn times maintained at 15 days • Maintained 100% emergency response coverage through team coordination • Successfully transitioned from 80 to 72 working hours while maintaining service levels • Expanded service delivery despite reduced hours (new responsibilities: rent deposits, pest control inspections, approving utility and grounds/cleaning services invoices) • Team productivity improved through comprehensive spreadsheet tracking systems implemented by leadership team • Resident satisfaction maintained with Friday afternoon schedule (based on initial feedback) • Documented work-life balance improvements for staff SUCCESS FACTORS • Robust performance tracking through leadership-developed spreadsheet systems • Clear metrics-based accountability framework • Structured schedule splitting with documented coverage protocols • Targeted workload optimization and reallocation • Proactive resident communication about schedule changes • Strong emergency response protocols with backup systems RECOMMENDATION DETAILS 1. Implement Permanent Program with: o Current split schedule system (Thursday/Friday afternoon rotation) PSH ONLY o Utilize property manager coverage plan for emergencies or urgent matters when site team is OOO. o Continued monitoring of key metrics (occupancy, delinquency, recertifications, turn times) 2. Supporting Actions: o Implement formal resident satisfaction survey by Q4 2025 o Review workload distribution of new tasks: o Process Rent Deposit (Not implemented at this time by Q4) o Pest control inspection schedules o Additional administrative duties- Review and approve utility, grounds and cleaning invoices. o Establish clear guidelines for Friday scheduling options- Already established, Portfolio Supervisor receive reports by end of day on Wednesday and review performance with PM on Thursday to determine if performance requires site team to work on Friday. 251 A P R I L 2 0 2 5 Results & Insights 2 5 Rental Assistance Recommendation: Implement permanent program with specific attention to seasonal workload adjustments and hybrid schedule optimization. PERFORMANCE HIGHLIGHTS • 98% on-time completion rate for recertifications • Exceptional audit scores (average .7 vs target < 1.5) • Significant reduction in HAP adjustment errors ($8,000 vs $25,000 maximum allowable amount) • 74 annual reviews completed for over-payment standard files • Work-life balance score of 3.34/4.0 on quarterly surveys • Successful implementation of hybrid schedule maintaining customer service hours • Effective seasonal workload management (winter vs. summer scheduling) SUCCESS FACTORS • Comprehensive dashboard tracking system via Smartsheet • Clear metrics for both individual and team performance • Employee-driven efficiency identification process • Structured hybrid schedule combining office and remote work • Seasonal adjustment protocols for high-volume periods • Strong backup systems for vacation coverage and departmental collobrative support for high- volume periods • Team-managed recertification, moving, and voucher utilization worksheets • Regular dashboard reviews in team meetings RECOMMENDATION DETAILS 1. Implement Permanent Program with: o Current performance tracking dashboard o Existing seasonal adjustment protocols o Hybrid schedule model 2. Reduced work hours aligns with lobby closure hoursSupporting Actions: o Establish clear policies for:  Core working hours  Agency vs. department decision-making  Supervisor program participation o Develop metrics for:  HAP Adjustments/Deminimis tracking o Optimize work-from-home efficiency o Continue quarterly work-life balance surveys o Maintain current performance standards:  98% recertification completion 252 A P R I L 2 0 2 5 Results & Insights 2 6 Talent Management Recommendation: Implement permanent program with specific process improvements while maintaining current RWS structure. PERFORMANCE HIGHLIGHTS The team maintains exceptional accuracy across all core functions while managing an increasingly complex operation. Key metrics include: • Payroll processing accuracy of 99.5% or higher, with on-schedule runs and 24-hour discrepancy resolution • Benefits administration with 24-hour response times and 48-hour processing for all changes • 100% compliance audit pass rate with zero violations Project management capabilities have expanded to match organizational growth. The team successfully manages both cyclical and strategic initiatives, including: • Annual Compliance Projects: W2 processing and distribution, ACA form preparation and filing, Employment law poster updates, Policy framework maintenance • Strategic Initiatives: The team leads multiple organizational development projects while maintaining daily operations. Key initiatives include Total Worker Health program leadership, comprehensive job description audits, and employee handbook revisions. They've also taken on expanded training responsibilities, managing harassment prevention programs and supporting the performance evaluation process. SUCCESS FACTORS • Robust Performance Management: Their weekly accomplishment planner system provides clear accountability while maintaining flexibility for urgent issues. Response time requirements are specific and measurable, with standards ranging from 4 to 48 hours based on urgency. • Process Improvements: The team has implemented several efficiency measures to manage increased workload, including more efficient payroll data entry and enhanced tracking systems. Their proactive approach to identifying optimization opportunities has been crucial to maintaining service levels during growth. • Strategic Planning: Looking ahead, the team has identified key areas for enhancement, including project tracking and customer service measurement systems. They've developed practical solutions for managing focus time in an open office environment. RECOMMENDATION DETAILS 1. Core Program Continuation o Maintain current successful elements including weekly performance meetings, digital accomplishment tracking, and enhanced payroll automation systems. 2. Roll out identified improvements including: o Project tracking platform o Enhanced customer service metrics o Flexible scheduling guidelines o Comprehensive cross-training documentation o Updated performance dashboard 253 A P R I L 2 0 2 5 Results & Insights 2 7 Communications Recommendation: Implement permanent program while addressing technology infrastructure needs. PERFORMANCE HIGHLIGHTS • 75% increase in project completion (from 16 to 28 projects per month) • Consistent achievement of work plan milestones and project deadlines • Successfully maintaining productivity while reducing hours from 80 to 72 • Clear demonstration of workflow improvements and efficiency gains • No performance interventions required during implementation • Proactive identification of cross-departmental technology inefficiencies SUCCESS FACTORS • Regular project tracking and deadline management system • Clear check-in protocols with supervisor (Sam) • Employee-driven workflow development • Strong accountability in RWS usage (skipping when project demands require) • Demonstrated understanding of program principles • Consistent meeting of performance metrics RECOMMENDATION DETAILS 1. Implement Permanent Program with: o Current project tracking system o Existing workflow management protocols o Proven performance metrics 2. Supporting Actions: o Consolidate technology tools and task assignment channels o Implement unified file storage solution o Provide enhanced staff training on technology tools o Streamline cross-departmental collaboration systems o Reduce manual reporting requirements through automation 254 A P R I L 2 0 2 5 Results & Insights 2 8 IT Recommendation: Implement permanent program while developing additional project-based metrics. PERFORMANCE HIGHLIGHTS • Specific metric achievements: o 97% of tickets meeting response time standards o 95% meeting resolution time standards o 4/4 customer satisfaction scores on response time o 40% reduced ticket volume on Fridays o Only 0.3% of high/critical priority tickets on Fridays • Priority-specific response times consistently met: o Critical: 1 hour response, 8 hour resolution o High: 2 hour response, 24 hour resolution o Normal: 12 hour response, 40 hour resolution o Low: 24 hour response, 80 hour resolution SUCCESS FACTORS • Sophisticated tracking systems: JitBit ticketing system, Monthly performance reporting, Priority- based metrics, Customer satisfaction surveys • Operational improvements: Enhanced ticket triaging, Mobile notifications, Clear task assignment protocols, Improved vendor management, Cross-training initiatives RECOMMENDATION DETAILS 1. Immediate Implementation (March 2024): o Maintain current successful tracking systems o Continue priority-based response metrics o Keep customer satisfaction surveys o Preserve cross-training program 2. Enhanced Metrics Development (Q2 2024): o Implement project tracking: ROCKS goals and milestones for large projects, JitBit tracking for smaller projects, Completion rate tracking against deadlines o Volume completion metrics: Document baseline workload distribution, Track project completion rates, Monitor resource allocation 3. Success Metrics for Permanent Program: o Maintain current performance levels:  95%+ response time compliance  90%+ resolution time compliance  3.5+ customer satisfaction scores o Add new project metrics:  90% on-time completion for ROCKS milestones  Track and maintain current project velocity 255 A P R I L 2 0 2 5 Results & Insights 2 9 Maintenance Recommendation: Pause program implementation and extend pilot for 6 months following specific performance improvements and cultural shift in department understanding. PERFORMANCE HIGHLIGHTS • Improved efficiency metrics in specific areas: Work order completion time reduced (1.77 hours vs previous 1.9), Better fuel efficiency and routing, Enhanced scheduling systems • Current challenges: Large backlog (280 work orders), Not achieving 80 hours of work in 72 hours, Inconsistent time tracking, Supply chain management issues, Leadership participation gaps SUCCESS FACTORS (LIMITED) • Weekly "report card" system tracking specific metrics: Inspection completion & efficiency, Response & turnaround times, Billable hours & labor accuracy, Documentation quality • New semi-annual planned maintenance model • Some teams showing successful adaptation RECOMMENDATION DETAILS 1. Immediate Actions: o Pause RWS program until performance targets met o Implement Josh's "weekly progress report" system tracking: Inspection completion rates, Response times by priority level, Billable hours accuracy, Documentation quality metrics o Launch mandatory weekly check-ins with Lisa/Josh 2. 6-Month Extension Plan: Phase 1 (March-April): o Complete leadership training for Josh, Tony, and Adam o Implement new YARDI-based performance tracking o Establish specific supply management protocols o Document baseline metrics for each tech Phase 2 (May-June): o Weekly performance reviews with specific targets: Work order completion times, Documentation compliance rates, Time tracking accuracy, Supply management metrics o Implement semi-annual planned maintenance schedule Phase 3 (July-August): o Evaluate against specific benchmarks: 1.77 hour average completion time, 100% time tracking compliance, 90% leadership participation rate o Decision on permanent implementation based on metrics 3. Required Success Metrics: o Consistent achievement of 80 hours work in 72 hours o 100% documentation compliance in YARDI o Semi-annual planned maintenance completion rate of 95% 256 A P R I L 2 0 2 5 Results & Insights 3 0 Finance Recommendation: Extend pilot for 6 months with differentiated approach for sub-teams and specific focus on metric development and efficiency improvements. PERFORMANCE HIGHLIGHTS • Tara's Team: o Meeting most month-end deadlines o 75% RWS utilization rate o Working 40+ hours while taking RWS o Demonstrating schedule flexibility based on workload • Anj's Team: o Regular RWS utilization o Meeting basic requirements o Challenges with efficiency improvements o Need for metric refinement SUCCESS FACTORS • Strong audit compliance • Team dependability in meeting deadlines • Flexible approach to RWS usage • Clear understanding of workload demands RECOMMENDATION DETAILS 1. Immediate Actions (First 30 Days): o Develop specific metrics for: Month-end close timelines, Actual hours worked tracking, Team-specific performance indicators o Adjust month-end deadlines o Implement weekly efficiency discussions 2. Team-Specific Improvements: o Tara's Team: Document current efficiency practices, Create sustainable workload model, Establish clear overtime tracking, Balance RWS with peak periods o Anj's Team: Develop specific performance metrics, Identify efficiency opportunities, Create process improvement plan, Implement change management support 3. Department-Wide Implementation: o Regular program discussions in team meetings o Clear hour tracking protocols o Balanced workload distribution o Monthly metric review sessions 4. Success Metrics for Extension: o Month-end close deadlines met consistently o Documented efficiency improvements o Balanced RWS utilization o Clear performance tracking 257 A P R I L 2 0 2 5 Results & Insights 3 1 Resident Services Recommendation: Differentiated approach based on team performance: • JumpStart: Implement permanent program • PSH: Extended pilot with modified structure • RSC: Extended pilot for program redesign PERFORMANCE ANALYSIS BY TEAM JumpStart (High Performance): • Metrics Achievement: Exceeding HUD standards (55 vs 50 cases), Meeting 2-day referral contact requirement, Maintaining 150-159 participant caseload, 79% enrollment rate from referrals • Success Factors: Strong administrative foundation, Clear documentation systems, Innovative service delivery, Effective time management, Successful hybrid model PSH (Implementation Challenges): • Current Metrics: Low RWS utilization (Daniel 8%, Marysol 1%, Tasha 51%), weekly task completion tracking, supervision goals • Structural Challenges: Relationship-based service model, Physical presence requirements, Unpredictable workload (35-50 hours/week), On-call responsibilities RSC (Needs Redesign): • Current Challenges: Success metrics not aligned with changed business needs, PM/RS role clarity needed, need a program redesign from reactive to proactive model based on post-pandemic and new Property Operation function changes, time-tracking inefficiencies due to technology gaps documentation burden (60-90 minutes daily) RECOMMENDATION DETAILS 1. JumpStart Implementation: o Document successful practices: Administrative systems, Service delivery innovations, Time management strategies, Electronic efficiencies o Maintain current metrics o Continue professional development 2. PSH Modified Pilot: o Implement Scenario 2: Flexible daily scheduling, "Banking" system (2 days/month), Adjusted on-call protocols, Modified performance tracking o 3-month evaluation period 3. Resident Services Coordinator Program Redesign: 6-Month RWS Extension Pilot (April– September 2025) o Purpose: This six-month extension continues the Reduced Work Schedule (RWS) pilot for the RSC team while allowing time to redesign the program to better align with Housing Catalyst’s Strategic Plan. The focus will shift from reactive property-based support to a more proactive, strategic approach centered on resident stability, resilience, education, and long-term well-being. 258 A P R I L 2 0 2 5 Results & Insights 3 2 Common Challenges TECHNOLOGY INFRASTRUCTURE • All departments identified cross-departmental technology inefficiencies • Multiple systems creating coordination challenges • Need for unified platforms and better training METRICS Common Theme: All three departments struggle with defining appropriate productivity metrics Specific Examples: • Maintenance: Difficulty balancing quantity (work orders) vs. quality metrics • Finance: Challenges measuring efficiency beyond month-end deadlines • Resident Services: Struggle quantifying relationship-based work Impact: Creates uncertainty about program success and complicates accountability TEAM -LEVEL VARIATION Common Theme: Sub-teams within departments show markedly different results Specific Examples: • Finance: Differences between Tara vs. Anj's team • Resident Services: JumpStart excelling vs. PSH challenges Impact: Suggests need for team-specific rather than department-wide approaches WORK PATTERNS Common Theme: Unpredictable workload demands Specific Examples: • Maintenance: Emergency response requirements • Finance: Month-end close demands • PSH: 24/7 resident needs Impact: Traditional RWS structure may not fit these service models 259