IMPACT: Annual Report 2019-20 2019-20 | Page 11

Financial Overview

LCIS NET PERFORMANCE

INCOME Admissions Revenue & Entrance Fee Tuition Donations EDS Income Other Income Total Income
$ 260,975 $ 8,712,420 $ 287,054 $ 204,260 $ 56,023 $ 9,520,731

FINANCIAL POSITION

ASSETS Current Assets Cash
$
7,071,648
Accounts Receivable
$
2,884,763
Other Current Assets
$
420,364
Total Current Assets
$ 10,376,775
EXPENSES
Administrative Expenses Technology Expenses Operating & Maintenance Instructional Expenses EDS Expenses Depreciation Expenses Staff Salaries & Benefits Total Expenses NET ORDINARY INCOME
$ 592,753 $ 287,791 $ 807,071 $ 411,868 $ 211,052 $ 482,740 $ 6,345,350 $ 9,138,625 $ 382,106
Fixed Assets Buildings
$
4,380,573
Furniture & Other Equipment
$
199,550
Land
$
1,309,825
Land & Building Improvements
$
174,455
Swimming Pool
$
146,352
Total Fixed Assets
$
6,210,755
Other Assets
$ 10,383,195
TOTAL ASSETS
$ 26,970,725
LIABILITIES & EQUITY Current Liabilities Accounts Payable
$
90,501
Other Current Liabilities
$
9,212,058
Total Current Liabilities
$
9,302,559
Total Liabilities
$
9,302,559
Equity Retained Earnings
$
6,286,060
Perpetual Bonds
$ 11,000,000
Net Income
$
382,106
* Our financials are audited by Deloitte each year . Please note : These figures are prior to the financial audit which is currently underway and are subject to change . Copies of the final audit or prior year ’ s reports will be available upon request from the Business Office .
Total Equity $ 17,668,166 TOTAL LIABILITIES & EQUITY $ 26,970,725
Financials represent the 2019-20 school year
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