COVENANT MINISTRIES OF BENEVOLENCE
Balance Sheet
Fiscal Year Start:
Oct 1
Assets in 2024 (Year End)
$59,745,617
Investments
87%
Other Assets
6%
Receivables (Non-Related)
4%
Cash & Equivalents
2%
Property, Plant, & Equipment (net)
1%
Related-Party Receivables
0%
Inventories
0%
Prepaid Expenses
0%
Liabilities in 2024 (Year End)
$5,633,927
Other Liabilities
>99%
Payables & Accruals
<1%
Grants Payable
0%
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
$2,233,374
$1,060,733
-53%
Receivables (Non-Related)
$1,834,932
$2,375,839
+29%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
-
-
-
Investments
$45,239,273
$51,716,484
+14%
Property, Plant, & Equipment (net)
$801,544
$795,521
-1%
Other Assets
$3,762,091
$3,797,040
+1%
Total Assets
$53,871,214
$59,745,617
+11%
Liabilities
2023
2024
Change
Payables & Accruals
$7,817
$36,573
+368%
Grants Payable
-
-
-
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
-
-
Related-Party Payables
-
-
-
Other Liabilities
$6,372,216
$5,597,354
-12%
Total Liabilities
$6,380,033
$5,633,927
-12%
Net assets
2023
2024
Change
Restricted Net Assets
$43,928,232
$50,449,238
+15%
Unrestricted Net Assets
$3,562,949
$3,662,452
+3%
Net assets
2023
2024
Change
Net assets
+$47,491,181
+$54,111,690
+14%
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