PHILLIPS THEOLOGICAL SEMINARY CORPORATION
Balance Sheet
Fiscal Year Start:
Jul 1
Assets in 2024 (Year End)
$174,302,256
Investments
84%
Receivables (Non-Related)
6%
Property, Plant, & Equipment (net)
5%
Cash & Equivalents
4%
Other Assets
2%
Prepaid Expenses
<1%
Related-Party Receivables
0%
Inventories
0%
Liabilities in 2024 (Year End)
$1,578,173
Payables & Accruals
>99%
Grants Payable
0%
Deferred Revenue
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
$4,050,752
$6,315,700
+56%
Receivables (Non-Related)
$10,116,189
$9,707,085
-4%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
$882
$1,158
+31%
Investments
$130,617,922
$145,673,308
+12%
Property, Plant, & Equipment (net)
$7,895,936
$8,306,993
+5%
Other Assets
$4,063,912
$4,298,012
+6%
Total Assets
$156,745,593
$174,302,256
+11%
Liabilities
2023
2024
Change
Payables & Accruals
$842,844
$1,578,173
+87%
Grants Payable
-
-
-
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
-
-
Related-Party Payables
-
-
-
Other Liabilities
-
-
-
Total Liabilities
$842,844
$1,578,173
+87%
Net assets
2023
2024
Change
Restricted Net Assets
$137,641,712
$152,800,359
+11%
Unrestricted Net Assets
$18,261,037
$19,923,724
+9%
Net assets
2023
2024
Change
Net assets
+$155,902,749
+$172,724,083
+11%
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