Assets
CURRENT ASSETS
2023
2022
Cash and cash equivalents
$ 1,043,553
$ 1,144,730
Membership fee receivable
10,000
15,000
Loans receivable, current portion
1,561,28
1,507,783
Loans receivable -organization funded, current portion
17,270
13,710
Prepaid expenses
430
430
TOTAL CURRENT ASSETS
$2,632,535
$2,681,653
SOFTWARE AND EQUIPMENT, net
424
2,060
OTHER ASSETS
Loans receivable – long-term, net
50,512,793
47,191,991
Loans receivable – organization funded, long-term, net
558,776
443,277
Membership fee receivable
15,000
10,000
Certificate of deposit
241,977
100,937
Cash escrows, restricted
101,757
101,584
TOTAL OTHER ASSETS
$51,430,303
$47,847,789
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Notes payable, current portion
$1,578,552
$1,521,493
Interest Payable
10,429
6,303
Deferred membership fees, current portion
10,000
15,000
TOTAL CURRENT LIABILITIES
$1,598,981
$1,542,796
Escrow fund payable
101,757
101,584
LONG-TERM LIABILITIES
Notes payable, net of current portion
51,671,393
48,302,010
Deferred membership – net of current portion
15,000
10,000
TOTAL LONG-TERM LIABILITIES
$51,686,393
$48,312,010
TOTAL LIABILITIES
$53,387,131
$49,956,390
NET ASSETS WITHOUT DONOR RESTRICTIONS
$676,131
$575,112
$54,063,262
$50,531,502