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Balance Sheet

Luther Seminary and Foundation Consolidated Balance Sheet
June 30, 2006 and 2007  

  6/30/2007 6/30/2006
Current Assets
Cash and Cash Equivalents 4,701,300 3,392,663
Student Accounts and Notes Receivable 3,170,500 2,981,906
Contributions Receivable 5,892,493 5,223,574
Accrued Interest Receivable 215,561 382,161
Inventory 425,078 451,856
Total Current Assets 14,404,932 12,332,160

Other Assets
Investments 92,666,901 80,490,795
Land, Buildings and Equipment 10,778,481 11,083,003
Other Assets 2,274,205 5,749,298
Total Other Assets
 		 105,719,587 97,323,096
Total Assets 120,124,519 109,655,256

Current Liabilities
Accounts Payable 621,293 754,609
Accrued Expenses 891,650 763,673
Deposits and Deferred Revenue 938,577 1,016,256
Total Current Liabilities 2,451,520 2,534,538

Long-Term Liabilities
Deferred Gift Obligations 4,914,285 6,477,469
Notes Payable 1,562,286 1,558,167
Capital Leases 27,865 23,141
Advances from Government for Federal Loans 1,944,570 1,812,040
Total Long-Term Liabilities
 		 8,449,006 9,870,817
Total Liabilities 10,900,526 21,405,355

Net Assets
Unrestricted 15,393,303 14,156,586
Temporarily Restricted 31,670,478 25,775,392
Permanently Restricted 62,160,212 57,317,923
Total Net Assets 109,223,993 97,249,901

 

 

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