TSTC Foundation Annual Report 2020 - 2021

2020–2021
Financial Statement
STATEMENT OF ACTIVITIES
Revenues
FY 2021 FY 2020
Contributions and other support 4,088,349 4,999,764
Interest and dividends 107,680 129,392
Gains (losses) on investments (328,384) 178,407
Gains (losses) on sale of assets 834,598 41,755
Total Revenues 4,702,243 5,349,318
Expenses
Student scholarships 976,122 963,798
Payments for the benefit of TSTC 120,351 93,353
Equipment/land purchased for TSTC 161,329 743,059
Grants to TSTC 674,982 1,079,018
Administrative expenses 150,005 145,247
Interest expense 790,284 632,264
Total Expenses 2,873,073 3,656,739
Increase (Decrease) in Net Assets 1,829,170 1,692,579
V VVVVVV
STATEMENT OF FINANCIAL POSITION
Assets FY 2021 FY 2020
Cash and cash equivalents 8,761,216 6,062,356
Investments 3,780,551 2,916,444
Pledges receivable 461,216 716,143
Capital pledges receivable 12,982,185 15,817,852
Leases receivable (TSTC) 25,057,350 7,547,531
Grant receivable - 133,045
Property and equipment, net 124,392 124,392
Total Assets 51,166,910 33,317,763
Liabilities
Accounts payable 5,320,305 969,632
Accrued liabilities 336,000 402,105
Long-term debt 28,831,527 17,096,117
Total Liabilities 34,487,832 18,467,854
Net Assets
Without donor restriction 8,122,737 7,762,282
With donor restriction 8,556,341 7,087 ,627
Total Net Assets 16,679,078 14,849,909
Total Liabilities & Net Assets 51,166,910 33,317,763
32 TSTCFOUNDATION.COM
*NOTE: The figures represented in these financials are unaudited figures.