Spring Arbor University
Balance Sheet
Fiscal Year Start:
Jun 1
Assets in 2024 (Year End)
$124,142,690
Property, Plant, & Equipment (net)
44%
Investments
24%
Cash & Equivalents
21%
Receivables (Non-Related)
9%
Other Assets
1%
Prepaid Expenses
<1%
Inventories
<1%
Related-Party Receivables
0%
Liabilities in 2024 (Year End)
$25,077,584
Notes Payable / Debt (Non-Related)
70%
Other Liabilities
11%
Deferred Revenue
10%
Payables & Accruals
9%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$24,288,791
$25,603,976
+5%
Receivables (Non-Related)
$9,710,918
$10,956,863
+13%
Related-Party Receivables
$0
$0
-
Inventories
$21,953
$18,196
-17%
Prepaid Expenses
$1,019,885
$1,152,502
+13%
Investments
$22,370,304
$30,135,052
+35%
Property, Plant, & Equipment (net)
$56,549,825
$54,433,445
-4%
Other Assets
$2,717,968
$1,842,656
-32%
Total Assets
$116,679,644
$124,142,690
+6%
Liabilities
2023
2024
Change
Payables & Accruals
$1,919,364
$2,229,392
+16%
Grants Payable
$0
-
-
Deferred Revenue
$2,404,885
$2,427,281
+1%
Tax-Exempt Bond Liabilities
$0
-
-
Custodial & Escrow Liabilities
$0
-
-
Notes Payable / Debt (Non-Related)
$18,468,798
$17,644,513
-4%
Related-Party Payables
$0
$0
-
Other Liabilities
$3,830,531
$2,776,398
-28%
Total Liabilities
$26,623,578
$25,077,584
-6%
Net assets
2023
2024
Change
Restricted Net Assets
$29,635,388
$37,297,418
+26%
Unrestricted Net Assets
$60,420,678
$61,767,688
+2%
Net assets
2023
2024
Change
Net assets
+$90,056,066
+$99,065,106
+10%
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