THE FREDERICK ARTS COUNCIL INC
Balance Sheet
Fiscal Year Start:
Jul 1
Assets in 2024 (Year End)
$643,589
Cash & Equivalents
57%
Receivables (Non-Related)
33%
Other Assets
7%
Inventories
2%
Related-Party Receivables
0%
Prepaid Expenses
0%
Investments
0%
Property, Plant, & Equipment (net)
0%
Liabilities in 2024 (Year End)
$398,832
Grants Payable
49%
Other Liabilities
39%
Payables & Accruals
12%
Deferred Revenue
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Notes Payable / Debt (Non-Related)
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$169,455
$367,706
+117%
Receivables (Non-Related)
$683,370
$214,503
-69%
Related-Party Receivables
-
-
-
Inventories
$14,900
$14,900
+0%
Prepaid Expenses
$16,000
-
-
Investments
-
-
-
Property, Plant, & Equipment (net)
$683,291
-
-
Other Assets
$47,291
$46,480
-2%
Total Assets
$1,614,307
$643,589
-60%
Liabilities
2023
2024
Change
Payables & Accruals
$51,641
$49,681
-4%
Grants Payable
$514,090
$195,300
-62%
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
-
-
Related-Party Payables
-
-
-
Other Liabilities
$650,150
$153,851
-76%
Total Liabilities
$1,215,881
$398,832
-67%
Net assets
2023
2024
Change
Restricted Net Assets
$56,801
$59,981
+6%
Unrestricted Net Assets
$341,625
$184,776
-46%
Net assets
2023
2024
Change
Net assets
+$398,426
+$244,757
-39%
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