Luther Seminary and Foundation consolidated balance sheets as of June 30, 2021 and June 30, 2020
Assets |
2021 |
2020 |
Current assets |
||
| Cash and Cash Equivalents | $17,124,750 | $14,703,368 |
| Other Current Assets | 403,820 | 496,865 |
|
|
||
| Total Current Assets | $17,528,570 | $15,200,233 |
Non-current Assets |
||
| Other assets | $2,173,113 | $2,279,738 |
| Investments | 132,939,555 | 108,327,576 |
| Student Notes Receivable, Net | 2,213,982 | 2,275,760 |
| Land, Buildings and Equipment, Net | 10,397,765 | 11,599,592 |
|
|
||
| Total Other Assets | $147,724,415 | $124,482,666 |
Total Assets |
$165,252,985 | $139,682,899 |
Liabilities and Net Assets |
||
Current Liabilities |
||
| Other Current Liabilities | $6,757,390 | $2,781,683 |
| Notes Payable & Line of Credit, Current Portion | 3,081,574 | 2,824,109 |
|
|
||
| Total Current Liabilities | $7,167,826 | $6,463,782 |
Long-Term Liabilities |
||
| Other Long Term Liabilities | $6,646,593 | $6,635,925 |
| Notes Payable, Net of Current Portion | 4,532,678 | 5,354,889 |
|
|
||
| Total Long-Term Liabilities | $11,179,271 | $11,990,814 |
Total Liabilities |
$18,347,097 |
$18,454,596 |
Net assets |
||
| Without Donor Restrictions | $7,817,463 | $5,307,717 |
| With Donor Restrictions | 139,088,425 | 115,920,586 |
|
|
||
| Total Net Assets | $146,905,888 | $121,228,303 |
Total Liabilities and Net Assets |
$165,252,985 | $139,682,899 |