Luther Seminary and Foundation consolidated balance sheets as of June 30, 2022 and June 30, 2021
Assets |
2022 |
2021 |
Current assets |
||
| Cash and Cash Equivalents | $14,973,951 | $17,124,750 |
| Other Current Assets | 635,921 | 403,820 |
|
|
||
| Total Current Assets | $15,609,512 | $17,528,570 |
Non-current Assets |
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| Other assets | $2,439,809 | $2,173,113 |
| Investments | 122,347,512 | 132,939,555 |
| Student Notes Receivable, Net | 2,156,994 | 2,213,982 |
| Land, Buildings and Equipment, Net | 8,458,045 | 10,397,765 |
|
|
||
| Total Other Assets | $135,402,360 | $147,724,415 |
Total Assets |
$151,011,872 | $165,252,985 |
Liabilities and Net Assets |
||
Current Liabilities |
||
| Other Current Liabilities | $7361,925 | $6,757,390 |
| Notes Payable & Line of Credit, Current Portion | 147,465 | 410,436 |
|
|
||
| Total Current Liabilities | $7,509,417 | $7,167,826 |
Long-Term Liabilities |
||
| Other Long Term Liabilities | $6,013,737 | $6,646,593 |
| Notes Payable, Net of Current Portion | 4,385,213 | 4,532,678 |
|
|
||
| Total Long-Term Liabilities | $10,398,950 | $11,179,271 |
Total Liabilities |
$17,908,367 |
$18,347,097 |
Net assets |
||
| Without Donor Restrictions | $6,937,100 | $7,817,463 |
| With Donor Restrictions | 126,166,405 | 139,088,425 |
|
|
||
| Total Net Assets | $133,103,505 | $146,905,888 |
Total Liabilities and Net Assets |
$151,011872 | $165,252,985 |