Covenant Foundation
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$6,693,726
Receivables (Non-Related)
80%
Property, Plant, & Equipment (net)
9%
Cash & Equivalents
9%
Prepaid Expenses
2%
Other Assets
<1%
Related-Party Receivables
0%
Inventories
0%
Investments
0%
Liabilities in 2024 (Year End)
$3,458,526
Grants Payable
86%
Payables & Accruals
14%
Deferred Revenue
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Notes Payable / Debt (Non-Related)
0%
Related-Party Payables
0%
Other Liabilities
0%
Assets
2023
2024
Change
Cash & Equivalents
$718,415
$589,011
-18%
Receivables (Non-Related)
$5,737,378
$5,349,473
-7%
Related-Party Receivables
$0
$0
-
Inventories
$0
$0
-
Prepaid Expenses
$65,915
$104,226
+58%
Investments
$0
$0
-
Property, Plant, & Equipment (net)
$701,796
$606,494
-14%
Other Assets
$50,844
$44,522
-12%
Total Assets
$7,274,348
$6,693,726
-8%
Liabilities
2023
2024
Change
Payables & Accruals
$557,490
$487,285
-13%
Grants Payable
$3,002,468
$2,971,241
-1%
Deferred Revenue
$0
$0
-
Tax-Exempt Bond Liabilities
$0
$0
-
Custodial & Escrow Liabilities
$0
$0
-
Notes Payable / Debt (Non-Related)
$0
$0
-
Related-Party Payables
$0
$0
-
Other Liabilities
$0
$0
-
Total Liabilities
$3,559,958
$3,458,526
-3%
Net assets
2023
2024
Change
Restricted Net Assets
$2,895,835
$2,514,930
-13%
Unrestricted Net Assets
$818,555
$720,270
-12%
Net assets
2023
2024
Change
Net assets
+$3,714,390
+$3,235,200
-13%
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