Luther Seminary and Foundation consolidated balance sheets as of June 30, 2020 and June 30, 2019
Assets |
2020 |
2019 |
Current assets |
||
| Cash and Cash Equivalents | $14,703,368 | $14,385,909 |
| Other Current Assets | 496,865 | 714,998 |
|
|
||
| Total Current Assets | $15,200,233 | $15,100,907 |
Non-current Assets |
||
| Other assets | $2,279,738 | $2,141,224 |
| Investments | 108,327,576 | 110,3011240 |
| Student Notes Receivable, Net | 2,275,760 | 2,430,663 |
| Land, Buildings and Equipment, Net | 11,599,592 | 12,087,723 |
|
|
||
| Total Other Assets | $124,482,666 | $126,960,880 |
Total Assets |
$139,682,899 |
$142,061,787 |
Liabilities and Net Assets |
||
Current Liabilities |
||
| Other Current Liabilities | $3,382,208 | $2,781,683 |
| Notes Payable & Line of Credit, Current Portion | 3,081,574 | 2,824,109 |
|
|
||
| Total Current Liabilities | $6,463,782 | $5,605,792 |
Long-Term Liabilities |
||
| Other Long Term Liabilities | $6,635,925 | $7,266,634 |
| Notes Payable, Net of Current Portion | 5,354,889 | 4,797,763 |
|
|
||
| Total Long-Term Liabilities | $11,990,814 | $12,064,397 |
Total Liabilities |
$18,454,596 |
$17,670,189 |
Net assets |
||
| Without Donor Restrictions | $5,307,717 | $6,007,917 |
| With Donor Restrictions | 115,920,586 | 118,383,681 |
|
|
||
| Total Net Assets | $121,228,303 | $124,391,598 |
Total Liabilities and Net Assets |
$139,682,899 |
$142,061,787 |