Hospice of Michigan Inc
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$114,759,835
Investments
75%
Other Assets
14%
Receivables (Non-Related)
8%
Cash & Equivalents
2%
Property, Plant, & Equipment (net)
<1%
Prepaid Expenses
<1%
Inventories
<1%
Related-Party Receivables
0%
Liabilities in 2024 (Year End)
$15,780,559
Payables & Accruals
69%
Other Liabilities
31%
Grants Payable
0%
Deferred Revenue
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Notes Payable / Debt (Non-Related)
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$4,610,091
$1,959,637
-57%
Receivables (Non-Related)
$8,537,999
$9,290,956
+9%
Related-Party Receivables
$0
$0
-
Inventories
$192,623
$182,072
-5%
Prepaid Expenses
$1,294,972
$554,410
-57%
Investments
$27,132,836
$85,975,456
+217%
Property, Plant, & Equipment (net)
$673,354
$649,928
-3%
Other Assets
$14,624,426
$16,147,376
+10%
Total Assets
$57,066,301
$114,759,835
+101%
Liabilities
2023
2024
Change
Payables & Accruals
$11,812,320
$10,963,807
-7%
Grants Payable
-
-
-
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
-
-
Related-Party Payables
$0
$0
-
Other Liabilities
$6,009,756
$4,816,752
-20%
Total Liabilities
$17,822,076
$15,780,559
-11%
Net assets
2023
2024
Change
Restricted Net Assets
$9,542,637
$17,018,774
+78%
Unrestricted Net Assets
$29,701,588
$81,960,502
+176%
Net assets
2023
2024
Change
Net assets
+$39,244,225
+$98,979,276
+152%
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