Rescue Ministries of Mid-Michigan
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$12,585,263
Property, Plant, & Equipment (net)
76%
Cash & Equivalents
19%
Other Assets
2%
Receivables (Non-Related)
2%
Prepaid Expenses
<1%
Inventories
<1%
Related-Party Receivables
0%
Investments
0%
Liabilities in 2024 (Year End)
$1,663,283
Notes Payable / Debt (Non-Related)
78%
Payables & Accruals
22%
Grants Payable
0%
Deferred Revenue
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Other Liabilities
0%
Assets
2023
2024
Change
Cash & Equivalents
$3,009,128
$2,449,429
-19%
Receivables (Non-Related)
$245,194
$288,080
+17%
Related-Party Receivables
$0
$0
-
Inventories
$600
$600
+0%
Prepaid Expenses
$35,572
$32,475
-9%
Investments
$0
$0
-
Property, Plant, & Equipment (net)
$8,959,369
$9,511,211
+6%
Other Assets
$20,977
$303,468
+1347%
Total Assets
$12,270,840
$12,585,263
+3%
Liabilities
2023
2024
Change
Payables & Accruals
$332,638
$368,283
+11%
Grants Payable
-
-
-
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$1,310,000
$1,295,000
-1%
Related-Party Payables
-
-
-
Other Liabilities
-
-
-
Total Liabilities
$1,642,638
$1,663,283
+1%
Net assets
2023
2024
Change
Restricted Net Assets
$323,077
-
-
Unrestricted Net Assets
$10,305,125
$10,921,980
+6%
Net assets
2023
2024
Change
Net assets
+$10,628,202
+$10,921,980
+3%
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