SUMMIT ACADEMY OIC
Balance Sheet
Fiscal Year Start:
Jul 1
Assets in 2025 (Year End)
$19,877,903
Property, Plant, & Equipment (net)
35%
Investments
34%
Cash & Equivalents
18%
Receivables (Non-Related)
11%
Prepaid Expenses
1%
Other Assets
<1%
Related-Party Receivables
0%
Inventories
0%
Liabilities in 2025 (Year End)
$3,595,152
Payables & Accruals
84%
Other Liabilities
10%
Notes Payable / Debt (Non-Related)
6%
Deferred Revenue
<1%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Assets
2024
2025
Change
Cash & Equivalents
$5,304,179
$3,591,843
-32%
Receivables (Non-Related)
$4,001,111
$2,217,279
-45%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
$58,298
$280,130
+381%
Investments
$6,666,223
$6,836,978
+3%
Property, Plant, & Equipment (net)
$5,522,491
$6,912,399
+25%
Other Assets
$216,302
$39,274
-82%
Total Assets
$21,768,604
$19,877,903
-9%
Liabilities
2024
2025
Change
Payables & Accruals
$1,373,371
$3,031,658
+121%
Grants Payable
-
-
-
Deferred Revenue
$309,878
$1,593
-99%
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
$202,072
-
Related-Party Payables
-
-
-
Other Liabilities
$835,043
$359,829
-57%
Total Liabilities
$2,518,292
$3,595,152
+43%
Net assets
2024
2025
Change
Restricted Net Assets
$4,741,056
$3,250,932
-31%
Unrestricted Net Assets
$14,509,256
$13,031,819
-10%
Net assets
2024
2025
Change
Net assets
+$19,250,312
+$16,282,751
-15%
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