INDEPENDENCE FIRST INC
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$17,207,756
Investments
51%
Property, Plant, & Equipment (net)
30%
Receivables (Non-Related)
14%
Cash & Equivalents
4%
Prepaid Expenses
<1%
Other Assets
<1%
Related-Party Receivables
0%
Inventories
0%
Liabilities in 2024 (Year End)
$3,641,508
Other Liabilities
35%
Payables & Accruals
34%
Notes Payable / Debt (Non-Related)
29%
Deferred Revenue
2%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$1,342,723
$728,102
-46%
Receivables (Non-Related)
$2,716,496
$2,436,902
-10%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
$79,193
$110,094
+39%
Investments
$7,968,668
$8,746,992
+10%
Property, Plant, & Equipment (net)
$5,361,307
$5,170,790
-4%
Other Assets
$14,876
$14,876
+0%
Total Assets
$17,483,263
$17,207,756
-2%
Liabilities
2023
2024
Change
Payables & Accruals
$1,141,475
$1,247,969
+9%
Grants Payable
-
-
-
Deferred Revenue
$33,535
$66,136
+97%
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$1,407,974
$1,039,377
-26%
Related-Party Payables
-
-
-
Other Liabilities
$1,395,715
$1,288,026
-8%
Total Liabilities
$3,978,699
$3,641,508
-8%
Net assets
2023
2024
Change
Restricted Net Assets
$3,117,858
$3,195,082
+2%
Unrestricted Net Assets
$10,386,706
$10,371,166
0%
Net assets
2023
2024
Change
Net assets
+$13,504,564
+$13,566,248
+0%
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