LUTHERAN CHILD & FAMILY SERVICE OF MICHIGAN INC
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$28,703,148
Investments
32%
Property, Plant, & Equipment (net)
28%
Receivables (Non-Related)
20%
Other Assets
16%
Cash & Equivalents
4%
Prepaid Expenses
<1%
Inventories
<1%
Related-Party Receivables
0%
Liabilities in 2024 (Year End)
$12,189,193
Notes Payable / Debt (Non-Related)
63%
Payables & Accruals
15%
Deferred Revenue
12%
Other Liabilities
10%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$2,579,275
$1,021,103
-60%
Receivables (Non-Related)
$3,419,085
$5,699,483
+67%
Related-Party Receivables
-
-
-
Inventories
$1,058
$1,612
+52%
Prepaid Expenses
$111,615
$138,706
+24%
Investments
$9,296,746
$9,243,536
-1%
Property, Plant, & Equipment (net)
$2,207,209
$7,992,554
+262%
Other Assets
$2,079,587
$4,606,154
+121%
Total Assets
$19,694,575
$28,703,148
+46%
Liabilities
2023
2024
Change
Payables & Accruals
$1,464,865
$1,768,004
+21%
Grants Payable
-
-
-
Deferred Revenue
$1,649,741
$1,488,291
-10%
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$8,061,684
$7,702,308
-4%
Related-Party Payables
-
-
-
Other Liabilities
$1,016,382
$1,230,590
+21%
Total Liabilities
$12,192,672
$12,189,193
0%
Net assets
2023
2024
Change
Restricted Net Assets
$8,554,409
$9,548,636
+12%
Unrestricted Net Assets
-$1,052,506
$6,965,319
-762%
Net assets
2023
2024
Change
Net assets
+$7,501,903
+$16,513,955
+120%
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