GRAND RAPIDS ART MUSEUM
Balance Sheet
Fiscal Year Start:
Oct 1
Assets in 2024 (Year End)
$61,955,134
Property, Plant, & Equipment (net)
92%
Receivables (Non-Related)
6%
Cash & Equivalents
2%
Prepaid Expenses
<1%
Investments
<1%
Other Assets
<1%
Inventories
<1%
Related-Party Receivables
0%
Liabilities in 2024 (Year End)
$1,087,358
Notes Payable / Debt (Non-Related)
46%
Payables & Accruals
39%
Other Liabilities
15%
Grants Payable
0%
Deferred Revenue
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$1,287,660
$951,516
-26%
Receivables (Non-Related)
$4,749,300
$3,503,610
-26%
Related-Party Receivables
-
-
-
Inventories
$21,710
$27,801
+28%
Prepaid Expenses
$182,486
$275,638
+51%
Investments
$87,547
$102,909
+18%
Property, Plant, & Equipment (net)
$59,080,697
$57,051,216
-3%
Other Assets
$42,444
$42,444
+0%
Total Assets
$65,451,844
$61,955,134
-5%
Liabilities
2023
2024
Change
Payables & Accruals
$532,814
$422,846
-21%
Grants Payable
-
-
-
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$1,000,000
$500,000
-50%
Related-Party Payables
-
-
-
Other Liabilities
$158,604
$164,512
+4%
Total Liabilities
$1,691,418
$1,087,358
-36%
Net assets
2023
2024
Change
Restricted Net Assets
$4,992,355
$4,108,068
-18%
Unrestricted Net Assets
$58,768,071
$56,759,708
-3%
Net assets
2023
2024
Change
Net assets
+$63,760,426
+$60,867,776
-5%
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