Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $81,428

• 1e · Government grants (contributions)

  $957,297

• 1f · All other contributions, gifts and grants

  $1,297,652

• 1g · Noncash contributions included above

  $37,131

• 2a · Program service revenue: TUITION & EDUC. FEES

  total $98,753,908 · related or exempt $98,753,908

• 2b · Program service revenue: ROOM & BOARD FEES

  total $10,815,231 · related or exempt $10,815,231

• 2c · Program service revenue: STUDENT PERFORMANCES

  total $1,169,127 · related or exempt $1,169,127

• 2d · Program service revenue: BOOKSTORE, CAFE & MISC. EVENTS

  total $871,774 · related or exempt $829,199 · unrelated business $42,575

• 3 · Investment income

  total $2,207,312 · excluded $2,207,312

• 5 · Royalties

  total $176,047 · excluded $176,047

• 7a · Gross sales of assets other than inventory

  securities $43,879,799

• 7b · Less cost or other basis and sales expenses

  securities $42,775,880 · other assets $444,792

• 7c · Gain or loss

  securities $1,103,919 · other assets -$444,792

• 7d · Net gain or loss

  total $659,127 · excluded $659,127

• 8a · Fundraising events: gross income

  $107,966

• 8a · Fundraising events: contributions included on line 1c

  $81,428

• 8b · Fundraising events: direct expenses

  $155,012

• 8c · Net income from fundraising events

  total -$47,046 · excluded -$47,046

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $62,002 · program services $62,002

• 2 · Grants to domestic individuals

  total $43,790,509 · program services $43,790,509

• 3 · Grants to foreign organizations and individuals

  total $37,500 · program services $37,500

• 5 · Compensation of officers, directors and key employees

  total $3,078,455 · program services $1,485,358 · management and general $1,593,097

• 6 · Compensation of disqualified persons

  total $477,392 · management and general $477,392

• 7 · Other salaries and wages

  total $35,023,401 · program services $30,747,785 · management and general $3,632,238 · fundraising $643,378

• 8 · Pension plan contributions

  total $1,743,588 · program services $1,433,812 · management and general $270,183 · fundraising $39,593

• 9 · Other employee benefits

  total $5,754,498 · program services $4,615,373 · management and general $996,395 · fundraising $142,730

• 10 · Payroll taxes

  total $2,664,424 · program services $2,229,993 · management and general $388,480 · fundraising $45,951

• 11b · Fees: legal

  total $437,749 · program services $30,037 · management and general $407,712

• 11c · Fees: accounting

  total $190,004 · management and general $190,004

• 11d · Fees: lobbying

  total $37,695 · management and general $37,695

• 11f · Fees: investment management

  total $84,865 · management and general $84,865

• 11g · Fees: other

  total $4,695,190 · program services $4,376,170 · management and general $253,657 · fundraising $65,363

• 12 · Advertising and promotion

  total $2,429,606 · program services $1,475,229 · management and general $925,360 · fundraising $29,017

• 13 · Office expenses

  total $2,410,433 · program services $2,161,260 · management and general $213,463 · fundraising $35,710

• 14 · Information technology

  total $1,670,286 · program services $904,489 · management and general $697,043 · fundraising $68,754

• 15 · Royalties

  total $8,122 · program services $8,122

• 16 · Occupancy

  total $10,838,294 · program services $9,247,463 · management and general $1,359,689 · fundraising $231,142

• 17 · Travel

  total $1,302,933 · program services $1,232,039 · management and general $60,038 · fundraising $10,856

• 19 · Conferences, conventions and meetings

  total $515,617 · program services $460,255 · management and general $51,665 · fundraising $3,697

• 22 · Depreciation, depletion and amortization

  total $6,384,773 · program services $5,323,463 · management and general $943,780 · fundraising $117,530

• 23 · Insurance

  total $153,068 · program services $82,706 · management and general $70,362

• 24a · Other expenses: FOOD SERVICES

  total $3,203,228 · program services $3,126,752 · management and general $70,514 · fundraising $5,962

• 24b · Other expenses: NON CAPITAL EQUIP

  total $925,666 · program services $915,792 · management and general $9,874

• 24c · Other expenses: EDUCATIONAL EXPENSES

  total $892,597 · program services $874,048 · management and general $18,549

• 24d · Other expenses: BAD DEBT

  total $429,822 · program services $429,822

• 24e · All other expenses

  total $689,579 · program services $598,881 · management and general $65,703 · fundraising $24,995

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $8,046,997 · end of year $942,969

• 2 · Savings and temporary cash investments

  beginning of year $17,013,468 · end of year $12,532,291

• 3 · Pledges and grants receivable

  beginning of year $626,228 · end of year $158,340

• 4 · Accounts receivable

  beginning of year $1,374,934 · end of year $1,165,097

• 7 · Other notes and loans receivable

  beginning of year $140,651 · end of year $79,215

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,237,494 · end of year $1,545,752

• 10a · Land, buildings and equipment: cost or other basis

  $234,024,363

• 10b · Land, buildings and equipment: accumulated depreciation

  $112,585,007

• 10c · Land, buildings and equipment, net

  beginning of year $125,844,832 · end of year $121,439,356

• 11 · Investments: publicly traded securities

  beginning of year $48,540,259 · end of year $51,489,074

• 14 · Intangible assets

  end of year $1,970,126

• 15 · Other assets

  beginning of year $322,633 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $5,031,004 · end of year $3,998,327

• 19 · Deferred revenue

  beginning of year $10,453,895 · end of year $16,044,408

• 20 · Tax-exempt bond liabilities

  beginning of year $39,373,714 · end of year $31,616,710

• 23 · Secured mortgages and notes payable

  beginning of year $60,000 · end of year $60,000

• 25 · Other liabilities

  beginning of year $8,722,607 · end of year $3,936,548

• 27 · Net assets without donor restrictions

  beginning of year $112,183,908 · end of year $109,422,352

• 28 · Net assets with donor restrictions

  beginning of year $27,322,368 · end of year $26,243,875

The filer's explanations (Part III)

PART I, LINE 1A

POINT PARK UNIVESITY PRESIDENTS, DON GREEN (THRU 1/15/23), AND DR. CHRIS BRUSSALIS (BEGINING 2/1/23) ARE PAID A MONTHLY HOUSING ALLOWANCE IN PLACE OF STAYING IN A HOUSE ON CAMPUS, THE STANDARD FOR COLLEGES AND UNIVERSITIES. THIS IS REPORTED AS TAXABLE INCOME. THE UNIVERSITY PAYS FOR THE DUES OF THE PRESIDENT TO BUSINESS CLUBS WHICH HAVE BEEN IDENTIFIED BY THE BOARD AS HAVING MEMBERS YIELDING SIGNIFICANT IMPACT ON FUNDRAISING AND THE UNIVERSITY'S ROLE IN THE DOWNTOWN COMMUNITY. CLUB DUES ARE NOT TAXABLE. DR. CHRIS BRUSSALIS IS REIMBURSED FOR CHILDCARE EXPENSES THAT ARE REPORTED AS TAXABLE INCOME.

PART I, LINES 4A-B

DON GREEN LEFT POINT PARK UNIVERSITY ON 1/16/23. AS A RESULT, $412,000 WAS AGREED TO IN A SEVERANCE ARRANGEMENT. THIS IS REPORTED AS DEFERRED COMPENSATION IN COLUMN C. PAUL HENNIGAN PARTICIPATES IN POINT PARK UNIVERSITY'S 457(F) PLAN THAT ENDED IN CALENDAR YEAR 2022. UPON PAYMENT THE AMOUNTS INCLUDING INVESTMENT EARNINGS, ARE REPORTED IN PART II, COLUMN B AND THEREFORE, $389,781 WAS REPORTED FOR THE CURRENT YEAR AND IS THE FINAL PAYMENT. BECAUSE OUT OF THE CURRENT YEAR PRINCIPAL PAYOUT, $300,000 OF IT WAS ACCRUED AND REPORTED ON PRIOR YEAR FORM 990 FILINGS AS COMPENSATION, $300,000 IS REPORTED IN PART II, COLUMN F.

PART I, LINE 7

NON-FIXED PAYMENTS ARE LISTED IN COLUMN (B) (II) BONUS & INCENTIVE COMPENSATION. THEY ARE DETERMINED ANNUALLY BASED ON PERFORMANCE EVALUATIONS.

PART II, COLUMN D:

THE NON-TAXABLE BENEFITS REPORTED ON SCHEDULE J PRIMARILY INCLUDE THE FOLLOWING: TUITION ASSISTANCE, AND EMPLOYER PROVIDED HEALTH INSURANCE. TUITION ASSISTANCE PROGRAMS ARE A STANDARD BENEFIT PROVIDED BY COLLEGE AND UNIVERSITY EMPLOYERS TO ELIGIBLE EMPLOYEES AND THEIR FAMILY MEMBERS. THE INTERNAL REVENUE CODE (SECTION 117(D)) SPECIFICALLY PROVIDES THAT GROSS INCOME DOES NOT INCLUDE QUALIFIED TUITION BENEFITS. THE VALUE OF SUCH QUALIFIED TUITION BENEFITS DEPENDS UPON THE NUMBER OF ELIGIBLE FAMILY MEMBERS RECEIVING THE TUITION BENEFITS DURING THE YEAR.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• PIONEER RECORDS LLC

  STUDENTS RECORDING & MARKETING MUSIC · PA · income $0 · assets $0

  Directly controlled by POINT PARK UNIVERSITY