Merit Academy
Balance Sheet
Fiscal Year Start:
Jul 1
Assets in 2024 (Year End)
$5,019,191
Other Assets
82%
Cash & Equivalents
14%
Receivables (Non-Related)
5%
Prepaid Expenses
<1%
Related-Party Receivables
0%
Inventories
0%
Investments
0%
Property, Plant, & Equipment (net)
0%
Liabilities in 2024 (Year End)
$7,714,802
Other Liabilities
89%
Payables & Accruals
8%
Notes Payable / Debt (Non-Related)
2%
Deferred Revenue
<1%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$516,059
$681,294
+32%
Receivables (Non-Related)
$314,436
$233,837
-26%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
$19,080
$2,251
-88%
Investments
-
-
-
Property, Plant, & Equipment (net)
$0
-
-
Other Assets
$3,476,888
$4,101,809
+18%
Total Assets
$4,326,463
$5,019,191
+16%
Liabilities
2023
2024
Change
Payables & Accruals
$432,799
$643,406
+49%
Grants Payable
-
-
-
Deferred Revenue
-
$21,645
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$519,263
$167,454
-68%
Related-Party Payables
-
-
-
Other Liabilities
$4,625,653
$6,882,297
+49%
Total Liabilities
$5,577,715
$7,714,802
+38%
Net assets
2023
2024
Change
Restricted Net Assets
$110,000
$152,000
+38%
Unrestricted Net Assets
-$1,361,252
-$2,847,611
-109%
Net assets
2023
2024
Change
Net assets
-$1,251,252
-$2,695,611
-115%
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