MICHIGAN LEGAL SERVICES
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$2,412,863
Cash & Equivalents
69%
Receivables (Non-Related)
29%
Property, Plant, & Equipment (net)
1%
Prepaid Expenses
<1%
Related-Party Receivables
0%
Inventories
0%
Investments
0%
Other Assets
0%
Liabilities in 2024 (Year End)
$1,734,821
Other Liabilities
79%
Payables & Accruals
20%
Grants Payable
1%
Deferred Revenue
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Notes Payable / Debt (Non-Related)
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$1,352,036
$1,673,417
+24%
Receivables (Non-Related)
$967,455
$688,889
-29%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
$25,735
$15,873
-38%
Investments
-
-
-
Property, Plant, & Equipment (net)
$48,342
$34,684
-28%
Other Assets
$0
-
-
Total Assets
$2,393,568
$2,412,863
+1%
Liabilities
2023
2024
Change
Payables & Accruals
$111,964
$349,480
+212%
Grants Payable
$470,710
$23,033
-95%
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
-
-
Related-Party Payables
-
-
-
Other Liabilities
$973,985
$1,362,308
+40%
Total Liabilities
$1,556,659
$1,734,821
+11%
Net assets
2023
2024
Change
Restricted Net Assets
$327,080
$408,868
+25%
Unrestricted Net Assets
$509,829
$269,174
-47%
Net assets
2023
2024
Change
Net assets
+$836,909
+$678,042
-19%
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