CHA has posted its financial information for the fiscal year ended June 30 on the association's website. This includes the association's Form 990 and Form 990T tax returns that the Internal Revenue Service requires most tax-exempt organizations to file, the association's most recent audited financial statements and management's discussion of CHA's financial results for the fiscal year.
According to the management discussion, CHA is in strong financial health. The association posted a total net income of $2.5 million. This included long-term investment income, realized gains and unrealized gains of $4.4 million. A portion of the long-term investment gains and income was used to support CHA's operations.
As of the end of the fiscal year, CHA held $25 million in long-term investments — funds sufficient to cover more than a year of budgeted expenses.
Because the association achieved cost savings in fiscal year 2011, it was able to use fewer funds than it had budgeted to support operations.
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