HERITAGE UNIVERSITY
Balance Sheet
Fiscal Year Start:
Jul 1
Assets in 2024 (Year End)
$78,627,029
Investments
54%
Property, Plant, & Equipment (net)
39%
Receivables (Non-Related)
5%
Prepaid Expenses
<1%
Other Assets
<1%
Cash & Equivalents
<1%
Inventories
<1%
Related-Party Receivables
0%
Liabilities in 2024 (Year End)
$11,234,258
Tax-Exempt Bond Liabilities
45%
Payables & Accruals
27%
Notes Payable / Debt (Non-Related)
25%
Deferred Revenue
3%
Grants Payable
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Other Liabilities
0%
Assets
2023
2024
Change
Cash & Equivalents
$767,769
$92,125
-88%
Receivables (Non-Related)
$1,501,597
$3,931,171
+162%
Related-Party Receivables
-
-
-
Inventories
$18,428
$24,015
+30%
Prepaid Expenses
$284,741
$716,528
+152%
Investments
$36,090,278
$42,742,029
+18%
Property, Plant, & Equipment (net)
$31,057,976
$30,905,570
0%
Other Assets
$219,140
$215,591
-2%
Total Assets
$69,939,929
$78,627,029
+12%
Liabilities
2023
2024
Change
Payables & Accruals
$2,149,396
$3,048,420
+42%
Grants Payable
-
-
-
Deferred Revenue
$222,746
$334,521
+50%
Tax-Exempt Bond Liabilities
$5,521,134
$5,051,317
-9%
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
$750,000
$2,800,000
+273%
Related-Party Payables
-
-
-
Other Liabilities
-
-
-
Total Liabilities
$8,643,276
$11,234,258
+30%
Net assets
2023
2024
Change
Restricted Net Assets
$8,779,801
$9,191,920
+5%
Unrestricted Net Assets
$52,516,852
$58,200,851
+11%
Net assets
2023
2024
Change
Net assets
+$61,296,653
+$67,392,771
+10%
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