National Equity Fund, Inc. National Equity Fund, Inc.

Extraordinary things happen when you have great partners
Since 1987, National Equity Fund® has invested more than $13 billion revitalizing neighborhoods,
fostering economic growth and creating affordable sustainable housing.


GAAP Estimates

NEF will prepare GAAP estimates for certain Partnerships to ensure delivery of the fund audit to its investor(s) by the reporting deadline.  The estimates are primarily based on the Partnership’s third quarter financial operations.  NEF compares annualized third quarter operations to prior year(s) and will request explanations and supporting documentation for material variances observed to support the final estimate.  Material variances are defined as variances greater than or equal to 10% OR less than or equal to (10)% of prior year audited net (income) loss.  True Up/True Down will be accounted for in the subsequent fund audit.


Note: The final audit for the Partnership is still required by the Submission Deadline.

Key Contacts


If you have questions regarding the documents on the website or have any problems downloading or viewing them, please email the Project Accounting Department.