GAGE ACADEMY OF ART
Balance Sheet
Fiscal Year Start:
Jul 1
Assets in 2024 (Year End)
$3,723,468
Investments
45%
Cash & Equivalents
33%
Property, Plant, & Equipment (net)
9%
Other Assets
5%
Receivables (Non-Related)
5%
Prepaid Expenses
1%
Related-Party Receivables
0%
Inventories
0%
Liabilities in 2024 (Year End)
$690,490
Deferred Revenue
41%
Payables & Accruals
29%
Other Liabilities
27%
Notes Payable / Debt (Non-Related)
3%
Grants Payable
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$462,683
$1,247,037
+170%
Receivables (Non-Related)
$53,886
$183,362
+240%
Related-Party Receivables
-
-
-
Inventories
-
-
-
Prepaid Expenses
$7,072
$51,275
+625%
Investments
$1,643,173
$1,688,820
+3%
Property, Plant, & Equipment (net)
$19,194
$351,555
+1732%
Other Assets
$559,320
$201,419
-64%
Total Assets
$2,745,328
$3,723,468
+36%
Liabilities
2023
2024
Change
Payables & Accruals
$105,238
$202,386
+92%
Grants Payable
-
-
-
Deferred Revenue
$315,884
$283,002
-10%
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
$19,193
-
Related-Party Payables
-
-
-
Other Liabilities
$553,728
$185,909
-66%
Total Liabilities
$974,850
$690,490
-29%
Net assets
2023
2024
Change
Restricted Net Assets
$1,739,822
$2,512,904
+44%
Unrestricted Net Assets
$30,656
$520,074
+1596%
Net assets
2023
2024
Change
Net assets
+$1,770,478
+$3,032,978
+71%
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