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Equity Trust 2023 Financial Statements

Statement of Financial Position

on December 31, 2023 (with comparative totals for 2022)

 
2023
2022
ASSETS
 
 
Current assets
 
 
Cash and short term investments
3,000,168
3,364,748
Accrued interest receivable
21,198
12,919
Pledges receivable
12,392
6,850
Other receivables
3,447
2,883
Net loans receivable, current portion
453,703
398,036
Total current assets
$3,490,938
$3,785,436
 
 
 
Noncurrent assets
 
 
Net loans receivable, noncurrent portion
2,285,854
1,996,737
Long term investments
257,152
254,984
Donated and acquired real property
397,342
397,342
Total noncurrent assets
$3,091,548
$2,649,063
Total assets
$6,582,486
$6,434,499
 
 
 
LIABILITIES AND NET ASSETS
 
 
Current liabilities
 
 
Accounts payable
6,102
2,992
Accrued interest payable
17,468
16,980
Other current liabilities 8,296 8,404
Loans payable, current portion
1,017,538
988,374
Total current liabilities
$1,049,404
$1,016,750
 
 
 
Noncurrent liabilities
 
 
Loans payable, noncurrent portion
3,307,918
3,406,079
Total noncurrent liabilities
$3,307,918
$3,406,079
Total liabilities
$4,357,322
$4,422,839
 
 
 
Net assets
 
 
Unrestricted
563,397
421,348
Temporarily restricted
1,661,767
1,590,322
Total net assets
$2,225,164
$2,011,670
Total liabilities and net assets
$6,582,486
$6,434,499

Consolidated Statement of Activities

on December 31, 2023 (with comparative totals for 2022)

 
2023
2022
REVENUE, GAINS, and OTHER SUPPORT
 
 
Contributions and grants
439,713
313,031
Interest income
112,173
94,615
Donated goods and services
6,207
21,274
Fees for services and other income
43,981
12,498
Total revenues, gains, and other support
$602,074
$441,418
Net assets released from restriction
111,832
15,408
 
 
 
EXPENSES AND LOSSES
 
 
Programs
 
 
Farms for Farmers
51,779
48,716
Equity Trust Fund
238,611
84,432
Property and Values
34,200
34,001
Land stewardship
24,314
27,805
Total programs
$348,904
$194,594
Management and general
35,951
33,478
Fundraising
3,725
4,645
Total expenses
$388,580
$233,077
 
 
 
CHANGE IN NET ASSETS
 
 
Unrestricted
142,049
207,408
Temporarily restricted
71,445
933