INSTITUTE OF CONTEMPORARY ART MIAMI INC
Balance Sheet
Fiscal Year Start:
Oct 1
Assets in 2024 (Year End)
$59,516,359
Property, Plant, & Equipment (net)
69%
Receivables (Non-Related)
15%
Investments
6%
Cash & Equivalents
6%
Prepaid Expenses
5%
Inventories
<1%
Related-Party Receivables
0%
Other Assets
0%
Liabilities in 2024 (Year End)
$2,589,797
Deferred Revenue
69%
Payables & Accruals
31%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Notes Payable / Debt (Non-Related)
0%
Related-Party Payables
0%
Other Liabilities
0%
Assets
2023
2024
Change
Cash & Equivalents
$4,578,722
$3,326,713
-27%
Receivables (Non-Related)
$8,182,754
$8,664,728
+6%
Related-Party Receivables
$0
$0
-
Inventories
$0
$55,868
-
Prepaid Expenses
$22,253
$3,029,584
+13514%
Investments
$2,837,607
$3,503,346
+23%
Property, Plant, & Equipment (net)
$41,081,939
$40,936,120
0%
Other Assets
$0
$0
-
Total Assets
$56,703,275
$59,516,359
+5%
Liabilities
2023
2024
Change
Payables & Accruals
$536,811
$791,797
+48%
Grants Payable
$0
-
-
Deferred Revenue
$1,170,000
$1,798,000
+54%
Tax-Exempt Bond Liabilities
$0
-
-
Custodial & Escrow Liabilities
$0
-
-
Notes Payable / Debt (Non-Related)
$0
-
-
Related-Party Payables
$0
$0
-
Other Liabilities
$0
$0
-
Total Liabilities
$1,706,811
$2,589,797
+52%
Net assets
2023
2024
Change
Restricted Net Assets
$33,479,547
$37,518,332
+12%
Unrestricted Net Assets
$21,516,917
$19,408,230
-10%
Net assets
2023
2024
Change
Net assets
+$54,996,464
+$56,926,562
+4%
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