(1) Latin has a policy of appropriating for distribution each year 4.5% of the endowment fund's
average fair value over the prior three years.
(2) Operating surplus was transferred to board-designated endowment.
(3) The consolidated financial statements of the school include High Jump, Inc., a not-for-profit
organization that operates an academic enrichment program for seventh and eighth grade students
from Chicago public and parochial schools.
Non-Operating Activity 2019 2018
Net endowment activity $ 1,029 $ 3,318
Net restricted activity 777 2,252
3
High Jump 380 106
Unrealized swap (loss) gain (1,132) 912
Non cash capital and debt expenses (700) 32
TOTAL NON-OPERATING ACTIVITY $ 354 $ 6,620
INCREASE IN NET ASSETS $ 584 $ 6,806
Consolidated Statement of Activities
(Years Ended June 30, 2019 and 2018), continued
(Dollars in thousands)
FINANCIALS
Latin School of Chicago 8
