FISCAL YEAR of August 2023-July 2024

Assets

Current Assets…………………………….……..…………...$2,085,561

Fixed Assets……………………………….……..…………….$4,530,723

Total Assets………………………….………..…….$6,616,284

Liabilities

Accounts Payable…………………………….…………….…$571,864

Notes Payable……………………………………….………….$3,425,883

Total…………….……………..……………………...$3,997,747

Total Net Assets.…………..……………………….$2,618,537

Total Liabilities & Net Capital.………………….$6,616,284

Income

Contributions……………………………………………………..$1,639,062

Gain on sale of land, buildings and equipment…$783,276

Program Revenue…………………….…………………………$105,109

Total Income…………………………………………..$2,527,447

Expenses

Personnel…..……………………………………………………...$606,273

Operations……………………………………………….…………$271,359

Facilities……………………………………………………….….…$268,025

Depreciation & Amortization…………………………......$279,255

Interest……………………….……………………………..……..…$167,881

Fees, Services and Other…………………………..….….…$54,225

Total Expenses……..……………………………...…$1,647,018

Net

Change in Net Assets…………………………………..……..$880,429

Net Assets (beginning of year)……………..……$1,738,108

Net Assets (end of year)………………………......$2,618,537

The church’s financial statements have been reviewed by JDS Professional Group (formerly Romek, Sanders and Company, P.C.). The Independent Accountants’ Review Report dated January 11, 2021, states that the CPA firm is not aware of any material modifications that should be made to the financial statements in order for them to be in conformity with accounting principles generally accepted in the United States of America.