NEW LIFE MINISTRIES
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$1,635,352
Other Assets
44%
Cash & Equivalents
35%
Receivables (Non-Related)
11%
Inventories
5%
Property, Plant, & Equipment (net)
4%
Prepaid Expenses
3%
Related-Party Receivables
0%
Investments
0%
Liabilities in 2024 (Year End)
$2,013,265
Payables & Accruals
64%
Notes Payable / Debt (Non-Related)
16%
Deferred Revenue
15%
Other Liabilities
5%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$737,995
$564,741
-23%
Receivables (Non-Related)
$55,215
$175,047
+217%
Related-Party Receivables
-
-
-
Inventories
$79,447
$77,602
-2%
Prepaid Expenses
$49,134
$42,956
-13%
Investments
-
-
-
Property, Plant, & Equipment (net)
$70,614
$59,120
-16%
Other Assets
$734,947
$715,886
-3%
Total Assets
$1,727,352
$1,635,352
-5%
Liabilities
2023
2024
Change
Payables & Accruals
$1,268,881
$1,285,361
+1%
Grants Payable
-
-
-
Deferred Revenue
$105,667
$306,726
+190%
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$535,569
$325,178
-39%
Related-Party Payables
-
-
-
Other Liabilities
-
$96,000
-
Total Liabilities
$1,910,117
$2,013,265
+5%
Net assets
2023
2024
Change
Restricted Net Assets
$206,731
$548,946
+166%
Unrestricted Net Assets
-$389,496
-$926,859
-138%
Net assets
2023
2024
Change
Net assets
-$182,765
-$377,913
-107%
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