MASSACHUSETTS CREDIT UNION SHARE INSURANCE CORPORATION AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022
N OTE 6 - R EAL E STATE H ELD FOR I NVESTMENT (C ONTINUED ) The balance sheets of MSIC Properties, LLC at September 30, 2023 and 2022 is as follows:
2022
2023
Assets: Cash and cash equivalents Premises and equipment, net
$
829,109
$ 1,093,762
26,894,190
27,009,707
186,563
Other assets
519,238
Total Assets
$ 28,242,537
$ 28,290,032
Liabilities: Accounts payable and other liabilities
$
311,814 49,521 178,042
$
217,578 30,818 132,748
Unearned rent
Tenant security deposits
Total Liabilities
539,377
381,144
Equity:
Paid in capital
26,100,160 1,603,000
26,100,160 1,808,728
Retained earnings
Total Equity
27,703,160
27,908,888
$ 28,290,032
Total Liabilities and Equity
$ 28,242,537
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94 INTERNATIONAL COLLABORATION
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