Page 34 - TMCF Annual Report, 2022

Thurgood Marshall College Fund and Affiliates
Consolidated Statements of Cash Flows
For the Years Ended December 31, 2022 and 2021
Cash Flows from Operating Activities
Change in net assets
Adjustments to reconcile change in net assets to net
cash (used in) provided by operating activities:
Change in allowance for uncollectible grants and contributions Net realized and unrealized loss (gain) on investments Donated stocks
Contributions restricted for endowment
Forgiveness of loan payable – Paycheck Protection Program Loss on disposal of property and equipment
Amortization of right-of-use assets – operating lease
Change in operating assets and liabilities: Decrease (increase) in:
Accounts receivable
Government grants receivable Grants and contributions receivable Prepaid expenses and other assets Right-of-use asset – operating lease Deferred compensation asset
Increase (decrease) in:
Accounts payable and accrued expenses Deferred revenue
Deferred rent
Lease liability – operating lease Deferred compensation liability
Net cash (used in) provided by operating activities
Cash Flows from Investing Activities
Purchase of investments
Proceeds from sale of investments Receipts on notes receivable
Net cash used in investing activities
Cash Flows from Financing Activity
Contributions restricted for endowment
Net cash provided by financing activity
Net (Decrease) Increase in Cash and Cash Equivalents Cash and Cash Equivalents, beginning of year
Cash and Cash Equivalents, end of year
Supplementary Disclosure of Non-Cash Operating and Financing Activities
Establishment of right-of-use assets – operating lease Establishment of lease liability – operating lease Write-off of deferred rent
Donated stocks
Forgiveness of loan payable – Paycheck Protection Program
$
2022
(9,001,256)
(210,420) 6,831,087
(143,311) -
-
- 4,617,920
5,900 (89,498) (298,063)
565,598 (15,185,345) (1,872,887)
50,507 (19,875) (79,267)
10,750,947 1,872,887
(2,205,076)
(33,220,445) 32,425,985 25,000
(769,460)
-
-
(2,974,536) 64,548,995
61,574,459
15,185,345 15,264,612 79,267 143,311 -
$
2021
36,369,986
46,148 (1,945,532) (38,323) (1,500,000) (925,976)
5,268 -
- 555,410 1,173,078
(144,582) -
-
2,043,101 (208,878) (4,216)
- -
35,425,484
(45,715,924) 43,709,447 1,100,000
(906,477)
1,500,000
1,500,000
36,019,007 28,529,988
64,548,995
- - -
38,323 925,976
$
$ $ $ $ $
$
$ $ $ $ $
34 2022 ANNUAL REPORT
See accompanying notes. 9