Luther Seminary and Foundation consolidated balance sheets as of June 30, 2023 and June 30, 2022
Assets |
2024 |
2023 |
Current assets |
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| Cash and Cash Equivalents | $11,951,995 | $12,999,656 |
| Other Current Assets | $648,317 | $355,911 |
|
|
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| Total Current Assets | $12,600,312 | $13,355,567 |
Non-current Assets |
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| Other assets | $1,996,675 | $2,007,730 |
| Investments | $135,495,744 | $123,277,429 |
| Student Notes Receivable, Net | $1,887,948 | $2,038,013 |
| Land, Buildings and Equipment, Net | $7,751,070 | $8,019,197 |
|
|
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| Total Other Assets | $147,131,437 | $135,342,369 |
Total Assets |
$159,731,749 | $148,697,872 |
Liabilities and Net Assets |
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Current Liabilities |
||
| Other Current Liabilities | $3,774,453 | $4,598,779 |
| Notes Payable & Line of Credit, Current Portion | $159,726 | $153,473 |
|
|
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| Total Current Liabilities | $3,934,179 | $4,752,252 |
Long-Term Liabilities |
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| Other Long Term Liabilities | $6,453,499 | $7,604,991 |
| Notes Payable, Net of Current Portion | $4,072,014 | $4,231,740 |
|
|
||
| Total Long-Term Liabilities | $10,525,513 | $11,836,731 |
Total Liabilities |
$14,459,692 | $16,588,983 |
Net assets |
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| Without Donor Restrictions | $4,626,230 | $5,354,872 |
| With Donor Restrictions | $140,645,827 | $126,754,081 |
|
|
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| Total Net Assets | $145,272,057 | $132,108,953 |
Total Liabilities and Net Assets |
$159,731,749 | $148,697,936 |