Luther Seminary and Foundation consolidated balance sheets as of June 30, 2022 and June 30, 2021
Assets |
2023 |
2022 |
Current assets |
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| Cash and Cash Equivalents | $12,999,656 | $14,973,591 |
| Other Current Assets | $355,911 | $635,921 |
|
|
||
| Total Current Assets | $13,355,567 | $15,609,512 |
Non-current Assets |
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| Other assets | $2,007,730 | $2,439,809 |
| Investments | $123,277,429 | $122,347,512 |
| Student Notes Receivable, Net | $2,038,013 | $2,156,994 |
| Land, Buildings and Equipment, Net | $8,019,197 | $8,458,045 |
|
|
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| Total Other Assets | $135,342,369 | $135,402,360 |
Total Assets |
$148,697,872 | $151,011,872 |
Liabilities and Net Assets |
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Current Liabilities |
||
| Other Current Liabilities | $4,598,779 | $5,145,611 |
| Notes Payable & Line of Credit, Current Portion | $153,473 | $147,465 |
|
|
||
| Total Current Liabilities | $4,752,252 | $5,293,076 |
Long-Term Liabilities |
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| Other Long Term Liabilities | $7,604,991 | $8,230,078 |
| Notes Payable, Net of Current Portion | $4,231,740 | $4,385,213 |
|
|
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| Total Long-Term Liabilities | $11,836,731 | $12,615,291 |
Total Liabilities |
$16,588,983 | $17,908,367 |
Net assets |
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| Without Donor Restrictions | $5,354,872 | $6,937,100 |
| With Donor Restrictions | $126,754,081 | $126,166,405 |
|
|
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| Total Net Assets | $132,108,953 | $133,103,505 |
Total Liabilities and Net Assets |
$148,697,936 | $151,011,872 |