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