MUSKEGON MUSEUM OF ART FOUNDATION
Balance Sheet
Fiscal Year Start:
Jul 1
Assets in 2025 (Year End)
$24,054,874
Property, Plant, & Equipment (net)
75%
Receivables (Non-Related)
13%
Other Assets
7%
Cash & Equivalents
5%
Prepaid Expenses
<1%
Inventories
<1%
Related-Party Receivables
0%
Investments
0%
Liabilities in 2025 (Year End)
$3,204,222
Other Liabilities
94%
Payables & Accruals
4%
Deferred Revenue
2%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Notes Payable / Debt (Non-Related)
0%
Related-Party Payables
0%
Assets
2024
2025
Change
Cash & Equivalents
$3,231,993
$1,107,747
-66%
Receivables (Non-Related)
$3,416,033
$3,050,950
-11%
Related-Party Receivables
-
-
-
Inventories
$28,620
$29,219
+2%
Prepaid Expenses
$361,389
$118,711
-67%
Investments
-
-
-
Property, Plant, & Equipment (net)
$2,639,762
$18,050,779
+584%
Other Assets
$12,838,029
$1,697,468
-87%
Total Assets
$22,515,826
$24,054,874
+7%
Liabilities
2024
2025
Change
Payables & Accruals
$2,646,489
$136,654
-95%
Grants Payable
-
-
-
Deferred Revenue
$32,092
$62,568
+95%
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
-
-
Related-Party Payables
-
-
-
Other Liabilities
-
$3,005,000
-
Total Liabilities
$2,678,581
$3,204,222
+20%
Net assets
2024
2025
Change
Restricted Net Assets
$4,480,317
$4,077,664
-9%
Unrestricted Net Assets
$15,356,928
$16,772,988
+9%
Net assets
2024
2025
Change
Net assets
+$19,837,245
+$20,850,652
+5%
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