Cornerstone Ministries Inc
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$32,483,883
Receivables (Non-Related)
54%
Other Assets
22%
Property, Plant, & Equipment (net)
20%
Cash & Equivalents
5%
Prepaid Expenses
<1%
Related-Party Receivables
0%
Inventories
0%
Investments
0%
Liabilities in 2024 (Year End)
$5,305,658
Notes Payable / Debt (Non-Related)
90%
Related-Party Payables
7%
Payables & Accruals
3%
Other Liabilities
<1%
Grants Payable
0%
Deferred Revenue
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Assets
2023
2024
Change
Cash & Equivalents
$1,290,728
$1,490,014
+15%
Receivables (Non-Related)
$12,339,621
$17,423,923
+41%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
$3,022
$6,698
+122%
Investments
-
-
-
Property, Plant, & Equipment (net)
$6,528,410
$6,494,105
-1%
Other Assets
$1,733,181
$7,069,143
+308%
Total Assets
$21,894,962
$32,483,883
+48%
Liabilities
2023
2024
Change
Payables & Accruals
$100,370
$140,887
+40%
Grants Payable
-
-
-
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$4,791,188
$4,791,188
+0%
Related-Party Payables
$300,124
$369,113
+23%
Other Liabilities
$33,285
$4,470
-87%
Total Liabilities
$5,224,967
$5,305,658
+2%
Net assets
2023
2024
Change
Restricted Net Assets
$14,114,174
$24,629,790
+75%
Unrestricted Net Assets
$2,555,821
$2,548,435
0%
Net assets
2023
2024
Change
Net assets
+$16,669,995
+$27,178,225
+63%
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