Assets
CURRENT ASSETS
2024
2023
Cash and cash equivalents
$ 1,387,984
$ 1,043,553
Membership fee receivable
20,000
10,000
Loans receivable, current portion
1,682,941
1,561,28
Loans receivable -organization funded, current portion
18,586
17,270
Prepaid expenses
430
430
TOTAL CURRENT ASSETS
$3,109,941
$2,632,535
SOFTWARE AND EQUIPMENT, net
424
424
OTHER ASSETS
Loans receivable – long-term, net
53,432,588
50,512,793
Loans receivable – organization funded, long-term, net
590,105
558,776
Membership fee receivable
15,000
15,000
Certificate of deposit
200,000
241,977
Cash escrows, restricted
0
101,757
TOTAL OTHER ASSETS
$54,237,693
$51,430,303
$57,347,634
$54,063,262
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Notes payable, current portion
$1,701,527
$1,578,552
Interest Payable
16,434
10,429
Deferred membership fees, current portion
20,000
10,000
TOTAL CURRENT LIABILITIES
$1,737,961
$1,598,981
Escrow fund payable
0
101,757
LONG-TERM LIABILITIES
Notes payable, net of current portion
54,831,437
51,671,393
Deferred membership – net of current portion
15,000
15,000
TOTAL LONG-TERM LIABILITIES
$54,846,437
$51,686,393
TOTAL LIABILITIES
$56,584,398
$53,387,131
NET ASSETS WITHOUT DONOR RESTRICTIONS
$763,236
$676,131
$57,347,634
$54,063,262