Equity Trust 2022 Financial Statements
Statement of Financial Position
on December 31, 2022 (with comparative totals for 2021)
|
2022
|
2021
|
|
| ASSETS |
|
|
| Current assets |
|
|
| Cash and short term investments |
3,364,748
|
2,842,192
|
| Accrued interest receivable |
12,919
|
10,848
|
| Pledges receivable |
6,850
|
2,325
|
| Other receivables |
2,883
|
4,678
|
| Net loans receivable, current portion |
398,036
|
456,679
|
| Total current assets |
$3,785,436
|
$3,316,722
|
|
|
|
|
| Noncurrent assets |
|
|
| Net loans receivable, noncurrent portion |
1,996,737
|
2,247,721
|
| Long term investments |
254,984
|
252,834
|
| Donated and acquired real property |
397,342
|
397,342
|
| Total noncurrent assets |
$2,649,063
|
$2,897,897
|
| Total assets |
$6,434,499
|
$6,214,619
|
|
|
|
|
| LIABILITIES AND NET ASSETS |
|
|
| Current liabilities |
|
|
| Accounts payable |
2,992
|
2,605
|
| Accrued interest payable |
16,980
|
16,848
|
| Advance funds received |
0
|
11,344
|
| Other current liabilities |
8,404
|
8,296
|
| Loans payable, current portion |
988,374
|
776,854
|
| Total current liabilities |
$1,016,750
|
$815,947
|
|
|
|
|
| Noncurrent liabilities |
|
|
| Loans payable, noncurrent portion |
3,406,079
|
3,595,343
|
| Total noncurrent liabilities |
$3,406,079
|
$3,595,343
|
| Total liabilities |
$4,422,839
|
$4,411,290
|
|
|
|
|
| Net assets |
|
|
| Unrestricted |
421,348
|
213,940
|
| Temporarily restricted |
1,590,322
|
1,589,389
|
| Total net assets |
$2,011,670
|
$1,803,329
|
| Total liabilities and net assets |
$6,434,499
|
$6,214,619
|
Consolidated Statement of Activities
on December 31, 2022 (with comparative totals for 2021)
|
2022
|
2021
|
|
| REVENUE, GAINS, and OTHER SUPPORT |
|
|
| Contributions and grants, unrestricted |
313,031
|
307,438
|
| Contributions and grants, restricted |
0
|
156,250
|
| Interest income |
94,615
|
101,740
|
| Donated goods and services |
21,274
|
36,815
|
| Fees for services and other income |
12,498
|
24,221
|
| Total revenues, gains, and other support |
$441,418
|
$626,454
|
| Net assets released from restriction |
15,408
|
205,084
|
|
|
|
|
| EXPENSES AND LOSSES |
|
|
| Programs |
|
|
| Farms for Farmers |
48,716
|
156,092
|
| Equity Trust Fund |
84,432
|
99,793
|
| Property and Values |
34,001
|
5,440
|
| Land stewardship |
27,805
|
49,269
|
| Total programs |
$194,954
|
$310,594
|
| Management and general |
33,478
|
35,534
|
| Fundraising |
4,645
|
4,267
|
| Total expenses |
$233,077
|
$350,395
|
|
|
|
|
| CHANGE IN NET ASSETS |
|
|
| Unrestricted |
207,408
|
324,893
|
| Temporarily restricted |
933
|
(48,834)
|
