MICHIGAN ABILITY PARTNERS
Balance Sheet
Fiscal Year Start:
Oct 1
Assets in 2024 (Year End)
$4,143,076
Property, Plant, & Equipment (net)
46%
Cash & Equivalents
39%
Receivables (Non-Related)
12%
Prepaid Expenses
3%
Investments
<1%
Other Assets
<1%
Related-Party Receivables
0%
Inventories
0%
Liabilities in 2024 (Year End)
$3,723,587
Other Liabilities
70%
Custodial & Escrow Liabilities
19%
Notes Payable / Debt (Non-Related)
7%
Payables & Accruals
4%
Grants Payable
0%
Deferred Revenue
0%
Tax-Exempt Bond Liabilities
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$1,333,271
$1,607,430
+21%
Receivables (Non-Related)
$814,967
$498,225
-39%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
$99,736
$103,978
+4%
Investments
$25,046
$25,046
+0%
Property, Plant, & Equipment (net)
$2,041,081
$1,898,328
-7%
Other Assets
$324,689
$10,069
-97%
Total Assets
$4,638,790
$4,143,076
-11%
Liabilities
2023
2024
Change
Payables & Accruals
$81,838
$144,510
+77%
Grants Payable
-
-
-
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
$863,069
$718,800
-17%
Notes Payable / Debt (Non-Related)
$1,014,922
$261,165
-74%
Related-Party Payables
-
-
-
Other Liabilities
$2,158,952
$2,599,112
+20%
Total Liabilities
$4,118,781
$3,723,587
-10%
Net assets
2023
2024
Change
Restricted Net Assets
$28,900
$127,468
+341%
Unrestricted Net Assets
$491,109
$292,021
-41%
Net assets
2023
2024
Change
Net assets
+$520,009
+$419,489
-19%
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