HomeMy WebLinkAboutWARM Financial Statement 3:01 PM
07/29/24
Accrual Basis
Wilmington Area Rebuilding Ministry, Inc.
Statement of Financial Position
As of June 30, 2024
Jun 30, 24 Jun 30, 23 $ Change % Change
ASSETS
Current Assets
Checking/Savings
10400 · First Citizen Bank Checking 125,499.60 403,343.68 -277,844.08 -68.89%
10401 · First Citizens Money Market 209,477.71 0.00 209,477.71 100.0%
10470 · South State Bank 377,814.19 32,136.00 345,678.19 1,075.67%
10475 · Bank of America 0.00 23,000.35 -23,000.35 -100.0%
10480 · Live Oak Bank - CD 133,568.38 257,483.16 -123,914.78 -48.13%
10495 · First Internet Bank - Savings 0.00 134,916.30 -134,916.30 -100.0%
10496 · Self Help Credit Union 1,155.95 71,797.45 -70,641.50 -98.39%
10500 · Petty Cash 150.00 150.00 0.00 0.0%
Total Checking/Savings 847,665.83 922,826.94 -75,161.11 -8.15%
Accounts Receivable
11400 · Grants Receivable 562,265.83 345,519.32 216,746.51 62.73%
Total Accounts Receivable 562,265.83 345,519.32 216,746.51 62.73%
Other Current Assets
11450 · Sales Tax Reimbursement A/R 42,487.66 27,484.86 15,002.80 54.59%
12001 · *Undeposited Funds 468.38 -38.70 507.08 1,310.28%
12500 · Other AR 7,395.86 988.77 6,407.09 647.99%
13000 · Prepaid Expenses 8,461.63 11,858.34 -3,396.71 -28.64%
13500 · Deposit on Land 0.00 25,000.00 -25,000.00 -100.0%
Total Other Current Assets 58,813.53 65,293.27 -6,479.74 -9.92%
Total Current Assets 1,468,745.19 1,333,639.53 135,105.66 10.13%
Fixed Assets
15000 · Furniture andEquipment 10,559.72 14,126.72 -3,567.00 -25.25%
15300 · Vehicles 330,569.71 306,324.70 24,245.01 7.92%
16600 · 6955 Market Street 0.00 627,329.67 -627,329.67 -100.0%
16700 · 6737 Amsterdam Way 2,418,979.13 3,183.00 2,415,796.13 75,896.83%
17000 · Accumulated Depreciation-F&E -173,137.33 -135,248.33 -37,889.00 -28.01%
Total Fixed Assets 2,586,971.23 815,715.76 1,771,255.47 217.14%
TOTAL ASSETS 4,055,716.42 2,149,355.29 1,906,361.13 88.7%
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Accounts Payable
20000 · Accounts Payable 137,887.68 123,381.54 14,506.14 11.76%
Total Accounts Payable 137,887.68 123,381.54 14,506.14 11.76%
Credit Cards 10,460.62 12,688.66 -2,228.04 -17.56%
Other Current Liabilities
21000 · Payroll Liabilities 24,802.51 34,546.77 -9,744.26 -28.21%
2110 · Direct Deposit Liabilities 0.00 154.00 -154.00 -100.0%
21500 · Accrued Vacation 40,799.00 27,626.00 13,173.00 47.68%
21600 · Accrued Payroll 102,005.00 65,548.00 36,457.00 55.62%
21700 · Charitable donations withheld 105.00 136.00 -31.00 -22.79%
Page 1 of 3 - unaudited financial statement
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3:01 PM
07/29/24
Accrual Basis
Wilmington Area Rebuilding Ministry, Inc.
Statement of Financial Position
As of June 30, 2024
Jun 30, 24 Jun 30, 23 $ Change % Change
21900 · Deferred Revenue 175,548.55 132,479.64 43,068.91 32.51%
Total Other Current Liabilities 343,260.06 260,490.41 82,769.65 31.78%
Total Current Liabilities 491,608.36 396,560.61 95,047.75 23.97%
Long Term Liabilities
23006 · FCB - Amsterdam Way 1,100,000.00 0.00 1,100,000.00 100.0%
23015 · Equipment Lease Payable 1,444.60 2,560.12 -1,115.52 -43.57%
23021 · First Citizens Bank - CRV 26,629.10 0.00 26,629.10 100.0%
Total Long Term Liabilities 1,128,073.70 2,560.12 1,125,513.58 43,963.31%
Total Liabilities 1,619,682.06 399,120.73 1,220,561.33 305.81%
Equity
32000 · *Unrestricted Net Assets 1,955,859.02 1,779,486.42 176,372.60 9.91%
33000 · Debt Principal Equity 3,974.53 2,880.94 1,093.59 37.96%
33001 · Fixed Asset Purchases - Equity 0.00 46,733.15 -46,733.15 -100.0%
Net Income 476,200.81 -78,865.95 555,066.76 703.81%
Total Equity 2,436,034.36 1,750,234.56 685,799.80 39.18%
TOTAL LIABILITIES & EQUITY 4,055,716.42 2,149,355.29 1,906,361.13 88.7%
Page 2 of 3 - unaudited financial statement
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2:57 PM
07/29/24
Accrual Basis
Wilmington Area Rebuilding Ministry, Inc.
Statement of Financial Income and Expense
January through June 2024
Jan - Jun 24
Ordinary Income/Expense
Income
40000 · Contributions 83,994.79
42400 · Special Events - Net 88,950.01
43010 · Grants & Contracts 1,767,080.52
43020 · Private Foundations 356,000.00
43030 · Social Enterprise Income 27,245.30
46400 · Other Types of Income 4,841.63
Total Income 2,328,112.25
Gross Profit 2,328,112.25
Expense
62800 · Facilities and Equipment 172,159.51
65000 · Operations 177,072.83
65120 · Insurance 43,716.84
66000 · Payroll & Benefits-Non Program 318,718.15
72000 · Project Costs 1,848,102.92
Total Expense 2,559,770.25
Net Ordinary Income -231,658.00
Other Income/Expense
Other Income
80001 · Interest Income 3,878.56
80003 · Sale of Assets 647,670.33
80040 · Capital Campaign/New Facilties 44,000.43
80100 · Rent 12,309.49
Total Other Income 707,858.81
Net Other Income 707,858.81
Net Income 476,200.81
Page 3 of 3unaudited financial statement
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