SALEM ART ASSOCIATION
Balance Sheet
Fiscal Year Start:
Jan 1
Assets in 2024 (Year End)
$564,661
Other Assets
80%
Cash & Equivalents
19%
Inventories
1%
Receivables (Non-Related)
0%
Related-Party Receivables
0%
Prepaid Expenses
0%
Investments
0%
Property, Plant, & Equipment (net)
0%
Liabilities in 2024 (Year End)
$72,774
Payables & Accruals
97%
Other Liabilities
3%
Grants Payable
0%
Deferred Revenue
0%
Tax-Exempt Bond Liabilities
0%
Custodial & Escrow Liabilities
0%
Notes Payable / Debt (Non-Related)
0%
Related-Party Payables
0%
Assets
2023
2024
Change
Cash & Equivalents
$113,465
$105,866
-7%
Receivables (Non-Related)
$300
-
-
Related-Party Receivables
-
-
-
Inventories
$6,270
$6,270
+0%
Prepaid Expenses
-
-
-
Investments
-
-
-
Property, Plant, & Equipment (net)
$1,361
$0
-100%
Other Assets
$452,525
$452,525
+0%
Total Assets
$573,921
$564,661
-2%
Liabilities
2023
2024
Change
Payables & Accruals
$49,817
$70,254
+41%
Grants Payable
$1,000
-
-
Deferred Revenue
-
-
-
Tax-Exempt Bond Liabilities
-
-
-
Custodial & Escrow Liabilities
-
-
-
Notes Payable / Debt (Non-Related)
-
-
-
Related-Party Payables
-
-
-
Other Liabilities
-
$2,520
-
Total Liabilities
$50,817
$72,774
+43%
Net assets
2023
2024
Change
Restricted Net Assets
$463,266
$452,789
-2%
Unrestricted Net Assets
$59,838
$39,098
-35%
Net assets
2023
2024
Change
Net assets
+$523,104
+$491,887
-6%
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