GOODWILL INDUSTRIES OF NORTHERN MICHIGAN INC
Balance Sheet
Fiscal Year Start:
Oct 1
Assets in 2024 (Year End)
$38,655,651
Property, Plant, & Equipment (net)
52%
Investments
17%
Receivables (Non-Related)
12%
Other Assets
9%
Cash & Equivalents
8%
Inventories
2%
Prepaid Expenses
<1%
Related-Party Receivables
0%
Liabilities in 2024 (Year End)
$15,508,039
Notes Payable / Debt (Non-Related)
86%
Payables & Accruals
10%
Tax-Exempt Bond Liabilities
4%
Custodial & Escrow Liabilities
<1%
Grants Payable
0%
Deferred Revenue
0%
Related-Party Payables
0%
Other Liabilities
0%
Assets
2023
2024
Change
Cash & Equivalents
$3,537,793
$3,230,103
-9%
Receivables (Non-Related)
$2,350,713
$4,709,786
+100%
Related-Party Receivables
-
-
-
Inventories
$610,117
$614,131
+1%
Prepaid Expenses
$29,062
$40,437
+39%
Investments
$7,853,882
$6,406,816
-18%
Property, Plant, & Equipment (net)
$13,690,505
$20,102,820
+47%
Other Assets
$814,962
$3,551,558
+336%
Total Assets
$28,887,034
$38,655,651
+34%
Liabilities
2023
2024
Change
Payables & Accruals
$1,195,796
$1,587,135
+33%
Grants Payable
-
-
-
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
$865,000
$600,000
-31%
Custodial & Escrow Liabilities
$78,944
$11,274
-86%
Notes Payable / Debt (Non-Related)
$6,139,320
$13,309,630
+117%
Related-Party Payables
-
-
-
Other Liabilities
-
-
-
Total Liabilities
$8,279,060
$15,508,039
+87%
Net assets
2023
2024
Change
Restricted Net Assets
$870,537
$2,213,804
+154%
Unrestricted Net Assets
$19,737,437
$20,933,808
+6%
Net assets
2023
2024
Change
Net assets
+$20,607,974
+$23,147,612
+12%
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