SOUTH MICHIGAN FOOD BANK
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$7,272,679
Investments
52%
Property, Plant, & Equipment (net)
16%
Cash & Equivalents
13%
Inventories
12%
Receivables (Non-Related)
6%
Prepaid Expenses
1%
Other Assets
<1%
Related-Party Receivables
0%
Liabilities in 2024 (Year End)
$290,859
Payables & Accruals
86%
Other Liabilities
14%
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
$1,134,933
$926,204
-18%
Receivables (Non-Related)
$359,905
$443,150
+23%
Related-Party Receivables
-
-
-
Inventories
$1,051,414
$873,353
-17%
Prepaid Expenses
$72,428
$78,924
+9%
Investments
$2,938,520
$3,752,785
+28%
Property, Plant, & Equipment (net)
$1,307,860
$1,130,127
-14%
Other Assets
$91,620
$68,136
-26%
Total Assets
$6,956,680
$7,272,679
+5%
Liabilities
2023
2024
Change
Payables & Accruals
$135,189
$248,825
+84%
Grants Payable
-
-
-
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
-
-
Related-Party Payables
-
-
-
Other Liabilities
$68,135
$42,034
-38%
Total Liabilities
$203,324
$290,859
+43%
Net assets
2023
2024
Change
Restricted Net Assets
$562,491
$468,189
-17%
Unrestricted Net Assets
$6,190,865
$6,513,631
+5%
Net assets
2023
2024
Change
Net assets
+$6,753,356
+$6,981,820
+3%
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