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
|