BLACK ECONOMIC COUNCIL OF MASSACHUSETTS INC
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$4,202,825
Property, Plant, & Equipment (net)
36%
Cash & Equivalents
31%
Receivables (Non-Related)
30%
Related-Party Receivables
2%
Prepaid Expenses
<1%
Other Assets
<1%
Inventories
0%
Investments
0%
Liabilities in 2024 (Year End)
$1,755,701
Notes Payable / Debt (Non-Related)
56%
Payables & Accruals
40%
Deferred Revenue
4%
Other Liabilities
<1%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$2,015,238
$1,314,405
-35%
Receivables (Non-Related)
$1,270,428
$1,277,532
+1%
Related-Party Receivables
-
$67,500
-
Inventories
-
-
-
Prepaid Expenses
$80,576
$31,299
-61%
Investments
-
-
-
Property, Plant, & Equipment (net)
-
$1,503,795
-
Other Assets
$58,624
$8,294
-86%
Total Assets
$3,424,866
$4,202,825
+23%
Liabilities
2023
2024
Change
Payables & Accruals
$755,234
$709,942
-6%
Grants Payable
-
-
-
Deferred Revenue
-
$62,503
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$87,100
$979,162
+1024%
Related-Party Payables
-
-
-
Other Liabilities
$731,472
$4,094
-99%
Total Liabilities
$1,573,806
$1,755,701
+12%
Net assets
2023
2024
Change
Restricted Net Assets
$1,346,408
$982,147
-27%
Unrestricted Net Assets
$504,652
$1,464,977
+190%
Net assets
2023
2024
Change
Net assets
+$1,851,060
+$2,447,124
+32%
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