FOOD BANK OF EASTERN MICHIGAN
Balance Sheet
Fiscal Year Start:
Oct 1
Assets in 2024 (Year End)
$39,305,808
Investments
56%
Property, Plant, & Equipment (net)
29%
Inventories
11%
Receivables (Non-Related)
3%
Cash & Equivalents
1%
Prepaid Expenses
<1%
Related-Party Receivables
0%
Other Assets
0%
Liabilities in 2024 (Year End)
$5,451,741
Deferred Revenue
68%
Payables & Accruals
32%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Notes Payable / Debt (Non-Related)
0%
Related-Party Payables
0%
Other Liabilities
0%
Assets
2023
2024
Change
Cash & Equivalents
$541,872
$542,009
+0%
Receivables (Non-Related)
$1,208,545
$1,111,863
-8%
Related-Party Receivables
-
-
-
Inventories
$3,207,719
$4,154,598
+30%
Prepaid Expenses
$62,996
$56,688
-10%
Investments
$19,351,926
$21,866,326
+13%
Property, Plant, & Equipment (net)
$10,655,148
$11,574,324
+9%
Other Assets
$1,233,669
-
-
Total Assets
$36,261,875
$39,305,808
+8%
Liabilities
2023
2024
Change
Payables & Accruals
$1,005,754
$1,765,170
+76%
Grants Payable
-
-
-
Deferred Revenue
$2,679,788
$3,686,571
+38%
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
-
-
Related-Party Payables
-
-
-
Other Liabilities
-
-
-
Total Liabilities
$3,685,542
$5,451,741
+48%
Net assets
2023
2024
Change
Restricted Net Assets
$542,512
$500,178
-8%
Unrestricted Net Assets
$32,033,821
$33,353,889
+4%
Net assets
2023
2024
Change
Net assets
+$32,576,333
+$33,854,067
+4%
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