FISCAL YEAR of August 2022-July 2023

Assets

Current Assets……………………………...$1,176,134

Fixed Assets………………………………….$3,924,792

Total Assets………………………….$5,100,926

Liabilities

Accounts Payable……………………….…$199,876

Notes Payable……………………………….$3,162,942

Total…………….……………..……...$3,362,818

Total Net Assets.…………..……….$1,738,108

Total Liabilities & Net Capital.…$5,100,926

Income

Contributions………………………………..$1,486,107

Program Revenue…………………….…..$52,690

Total Income…………………………$1,538,797

Expenses

Personnel…..………………………………...$676,299

Operations……………………………………$299,051

Facilities…………………………………….…$255,893

Depreciation & Amortization……....$269,771

Interest……………………….……………..…$162,147

Fees, Services and Other……….….…$51,200

Total Expenses……..…………...…$1,714,361

Net

Change in Net Assets…………………..(175,564)

Net Assets (beginning of year)..$1,913,672

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

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.