Luther Seminary and Foundation consolidated balance sheets as of June 30, 2019 and June 30, 2018
Assets |
2019 |
2018 |
Current assets |
||
| Cash and Cash Equivalents | $14,385,909 | $9,500,995 |
| Other Current Assets | 714,998 | 296,767 |
|
|
||
| Total Current Assets | $15,100,907 | $9,797,762 |
Non-current Assets |
||
| Other assets | $2,141,224 | 1,498,020 |
| Investments | 110,3011240 | 110,216,347 |
| Student Notes Receivable, Net | 2,430,663 | 2,669,576 |
| Land, Buildings and Equipment, Net | 12,087,723 | 11,473,549 |
|
|
||
| Total Other Assets | $126,960,880 | $125,857,492 |
Total Assets |
$142,061,787 |
$135,655,254 |
Liabilities and Net Assets |
||
Current Liabilities |
||
| Other Current Liabilities | $2,781,683 | $2,358,697 |
| Notes Payable & Line of Credit, Current Portion | 2,824,109 | 2,518,806 |
|
|
||
| Total Current Liabilities | $5,605,792 | $4,877,503 |
Long-Term Liabilities |
||
| Other Long Term Liabilities | $7,266,634 | 7,190,619 |
| Notes Payable, Net of Current Portion | 4,797,763 | 4,921,872 |
|
|
||
| Total Long-Term Liabilities | $12,064,397 | $12,112,491 |
Total Liabilities |
$17,670,189 |
$16,989,994 |
Net assets |
||
| Without Donor Restrictions | $6,007,917 | $5,704,877 |
| With Donor Restrictions | 118,383,681 | 112,960,383 |
|
|
||
| Total Net Assets | $124,391,598 | $118,665,260 |
Total Liabilities and Net Assets |
$142,061,787 |
$135,655,254 |