Investor Presentaiton

University of South Carolina Upstate Foundation and Supporting Organization Consolidated Statements of Cash Flows For the Years Ended June 30, 2022 and 2021 Cash flows from operating activities: 2022 2021 Change in net assets Adjustments to reconcile change in net assets to net cash provided by operating activities: Unrealized losses (gains) on investments Gain on sale of land Net changes in operating assets and liabilities: Unconditional promises to give, net Annuity receivable, net Other receivables Assets held in charitable remainder trust Accounts payable $ (1,125,042) 3,500,072 2,399,708 (3,052,713) (13,000) (1,288,000) 1,128,131 209,986 (209,986) 301 (301) 44,397 (66,455) (23,100) 42,862 Deferred grant revenue 175,000 Liability under charitable remainder trusts (42,023) 33,945 Annuity obligation (209,986) 209,986 Due to Spartanburg County Commission on Higher Education (394,793) Net cash provided by operating activities 141,241 1,177,748 Cash flows from investing activities: Proceeds from sale of land 385,000 Sales of investments 5,790,000 652,910 Purchases of investments (6,736,785) (580,040) Net cash (used) provided by investing activities (946,785) 457,870 Cash flows from financing activities: Payments on long-term debt Net cash used by financing activities (1,601,822) (1,601,822) (Decrease) increase in cash and cash equivalents (805,544) 33,796 Cash and cash equivalents, beginning of year 966,713 932,917 Cash and cash equivalents, end of year $ 161,169 $ 966,713 See accompanying notes. 6

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