MICHIGAN COLLEGE ACCESS NETWORK
Balance Sheet
Fiscal Year Start:
Oct 1
Assets in 2024 (Year End)
$11,575,367
Receivables (Non-Related)
49%
Cash & Equivalents
43%
Other Assets
6%
Prepaid Expenses
1%
Property, Plant, & Equipment (net)
<1%
Related-Party Receivables
0%
Inventories
0%
Investments
0%
Liabilities in 2024 (Year End)
$2,875,384
Other Liabilities
62%
Payables & Accruals
33%
Deferred Revenue
4%
Grants Payable
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
$2,994,342
$5,029,885
+68%
Receivables (Non-Related)
$4,405,344
$5,629,710
+28%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
$137,617
$155,313
+13%
Investments
-
-
-
Property, Plant, & Equipment (net)
$39,464
$33,773
-14%
Other Assets
$877,716
$726,686
-17%
Total Assets
$8,454,483
$11,575,367
+37%
Liabilities
2023
2024
Change
Payables & Accruals
$376,967
$961,575
+155%
Grants Payable
$248,838
$0
-100%
Deferred Revenue
$46,251
$126,073
+173%
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
-
-
Related-Party Payables
-
-
-
Other Liabilities
$1,021,672
$1,787,736
+75%
Total Liabilities
$1,693,728
$2,875,384
+70%
Net assets
2023
2024
Change
Restricted Net Assets
$3,403,904
$4,995,577
+47%
Unrestricted Net Assets
$3,356,851
$3,704,406
+10%
Net assets
2023
2024
Change
Net assets
+$6,760,755
+$8,699,983
+29%
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