International Academy of Fine Art
Balance Sheet
Fiscal Year Start:
Jul 1
Assets in 2025 (Year End)
$9,480,781
Property, Plant, & Equipment (net)
64%
Cash & Equivalents
24%
Other Assets
6%
Receivables (Non-Related)
4%
Prepaid Expenses
2%
Related-Party Receivables
0%
Inventories
0%
Investments
0%
Liabilities in 2025 (Year End)
$6,092,886
Notes Payable / Debt (Non-Related)
45%
Deferred Revenue
30%
Other Liabilities
14%
Payables & Accruals
9%
Related-Party Payables
2%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Assets
2024
2025
Change
Cash & Equivalents
$2,108,775
$2,306,773
+9%
Receivables (Non-Related)
$32,952
$349,760
+961%
Related-Party Receivables
$0
$0
-
Inventories
$0
$0
-
Prepaid Expenses
$207,003
$169,177
-18%
Investments
$0
$0
-
Property, Plant, & Equipment (net)
$5,476,505
$6,105,177
+11%
Other Assets
$641,442
$549,894
-14%
Total Assets
$8,466,677
$9,480,781
+12%
Liabilities
2024
2025
Change
Payables & Accruals
$672,336
$571,871
-15%
Grants Payable
$0
$0
-
Deferred Revenue
$1,620,462
$1,839,327
+14%
Tax-Exempt Bond Liabilities
$0
$0
-
Custodial & Escrow Liabilities
$0
$0
-
Notes Payable / Debt (Non-Related)
$2,715,445
$2,734,896
+1%
Related-Party Payables
$130,679
$100,000
-23%
Other Liabilities
$907,023
$846,792
-7%
Total Liabilities
$6,045,945
$6,092,886
+1%
Net assets
2024
2025
Change
Restricted Net Assets
$302,502
$159,135
-47%
Unrestricted Net Assets
$2,118,230
$3,228,760
+52%
Net assets
2024
2025
Change
Net assets
+$2,420,732
+$3,387,895
+40%
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