2021 22 DALC AnnualReport for FLIPBOOK - Flipbook - Page 21
Financial Report
Consolidated Balance Sheet
2021
2020
Current Assets (Cash, AR, Other)
Investments and Trustee Funds
Fixed and Other Assets
Gift Annuities Receivable
TOTAL ASSETS
$24,869,000
67,526,000
76,076,000
592,000
$169,063,000
$20,098,000
67,753,000
78,600,000
715,000
$167,166,000
Current Maturities of LT Debt
1,205,000
1,140,000
Line of Credit
2,474,000
0
Accounts Payable, Accrued Expenses and Gift Annuity
4,041,000
3,848,000
Entrance Fee Refunds Payable
3,232,000
5,357,000
TOTAL CURRENT LIABILITIES$10,952,000$10,345,000
Refundable Fees and Deferred Rev. from Advance Fees
125,469,000
121,147,000
Derivative Financial Instruments
2,179,000
4,198,000
Long Term Debit 38,598,000 39,734,000
TOTAL LIABILITIES
$177,198,000
$175,424,000
Total Equity (8,135,000) (8,258,000)
TOTAL LIABILITIES AND NET ASSETS
Consolidated Statement of Operations
$169,063,000
2021
$167,166,000
2020
Total Revenues$38,948,000$41,014,000
Employee Costs 28,058,000 26,123,000
Operating Expenses 12,488,000 11,369,000
Interest Expense and Fees
1,441,000
1,476,000
Depreciation and Amortization Expense
4,406,000
4,431,000
Amortization Revenue-Entrance Fees
1,459,000
1,478,000
Operating Margin
(5,986,000)
(907,000)
Non-Operating Income:
Investment Gain and Income
Unrestricted Contributions
Change in fair value of derivative financial instruments
Loss from Discontinued Operations
CHANGE IN UNRESTRICTED NET ASSETS
-
3,924,000
247,000
2,019,000
(344,000)
(140,000)
6,955,000
159,000
(2,207,000)
(541,000)
3,459,000
Consolidated Statement of Cash Flows
2021
2020
Cash Flows from Operating Activities
Cash Flows from Investing Activities
Cash Flows from Financing Activities
NET INCREASE (DECREASE) IN CASH
(1,094,000)
2,238,000
3,744,000
$4,888,000
3,042,000
(1,837,000)
(1,332,000)
(127,000)
Deaconess Abundant Life Communities financial statements are prepared under policies and procedures overseen by the
Audit Committee and the Board of Directors. The statements are audited by Baker Tilly Virchow Krause, LLP. A summary of the
audited financial statements is shown above. The audited statements are available upon request.
2021 Annual Report
19
Deaconess Abundant Life Communities19