IMPACT: Annual Report 2021-22 | Page 7

LCIS NET PERFORMANCE

INCOME Admission Revenue & Entrance Fee Tuition Donations ( LCIS Fund + Other ) Other Income Total Income
EXPENSES
Administrative Expenses Technology Expenses Operating & Maintenance Instructional Expenses Staff Salaries & Benefits Total Expenses
$ 240,150 $ 10,451,317 $ 2,233,392 $ 429,749 $ 13,354,608
$ 866,863 $ 384,288 $ 1,554,050 $ 865,015 $ 6,482,657 $ 10,152,873

FINANCIAL POSITION

ASSETS Current Assets Cash
$
8,296,915
Accounts Receivable
$
2,020,289
Other Current Assets
$
688,145
Total Current Assets
$ 11,005,349
Fixed Assets Buildings
$
15,976,117
Furniture & Other Equipment
$
551,056
Land
$
1,309,825
Land & Building Improvements
$
4,382,525
Swimming Pool
$
127,598
Operating Profit before Depreciation
Depreciation Expense NET ORDINARY INCOME
$ 3,201,735
$ 1,338,681 $ 1,863,054
Total Fixed Assets
$
22,347,121
TOTAL ASSETS
$ 33,352,470
LIABILITIES & EQUITY Current Liabilities Accounts Payable
$
248,495
Other Current Liabilities
$
9,652,083
Total Current Liabilities
$
9,900,578
Total Liabilities
$
9,900,578
Equity Retained Earnings
$
5,477,506
Perpetual Bonds
$
16,111,332
Net Income
$
1,863,054
Total Equity
$
23,451,892
TOTAL LIABILITIES & EQUITY
$ 33,352,470
* 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 .
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