Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $4,191,994

• 1f · All other contributions, gifts and grants

  $6,015,593

• 1g · Noncash contributions included above

  $40,328

• 2a · Program service revenue: STUDENT TUITION & FEES

  total $119,764,258 · related or exempt $119,764,258

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $16,804,231 · unrelated business $182,995 · excluded $16,621,236

• 3 · Investment income

  total $2,830,802 · excluded $2,830,802

• 7a · Gross sales of assets other than inventory

  securities $53,097,467 · other assets $96,720

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

  securities $52,990,360 · other assets $0

• 7c · Gain or loss

  securities $107,107 · other assets $96,720

• 7d · Net gain or loss

  total $203,827 · excluded $203,827

• 11a · Other revenue: ACTIVITY FEES & OTHER

  total $1,933,800 · related or exempt $1,933,800

• 11e · Other revenue, total

  $1,933,800

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $46,248,811 · program services $46,248,811

• 5 · Compensation of officers, directors and key employees

  total $2,528,713 · program services $862,141 · management and general $1,073,315 · fundraising $593,257

• 7 · Other salaries and wages

  total $43,023,977 · program services $35,382,718 · management and general $7,273,751 · fundraising $367,508

• 8 · Pension plan contributions

  total $1,689,282 · program services $1,377,895 · management and general $298,907 · fundraising $12,480

• 9 · Other employee benefits

  total $7,665,245 · program services $4,276,382 · management and general $3,262,645 · fundraising $126,218

• 10 · Payroll taxes

  total $3,084,629 · program services $2,435,712 · management and general $575,072 · fundraising $73,845

• 11b · Fees: legal

  total $336,995 · management and general $336,995

• 11c · Fees: accounting

  total $115,387 · program services $51 · management and general $115,336

• 11f · Fees: investment management

  total $256,381 · management and general $256,381

• 11g · Fees: other

  total $9,281,175 · program services $7,126,074 · management and general $2,128,307 · fundraising $26,794

• 12 · Advertising and promotion

  total $2,135,292 · program services $142,717 · management and general $1,983,178 · fundraising $9,397

• 13 · Office expenses

  total $5,365,602 · program services $3,783,260 · management and general $1,485,986 · fundraising $96,356

• 14 · Information technology

  total $2,682,222 · program services $743,710 · management and general $1,837,329 · fundraising $101,183

• 16 · Occupancy

  total $2,415,665 · program services $116,054 · management and general $2,299,611

• 17 · Travel

  total $3,202,649 · program services $3,068,649 · management and general $113,742 · fundraising $20,258

• 19 · Conferences, conventions and meetings

  total $1,114,563 · program services $942,057 · management and general $158,807 · fundraising $13,699

• 20 · Interest

  total $1,379,304 · program services $952,876 · management and general $426,428

• 22 · Depreciation, depletion and amortization

  total $4,980,818 · program services $4,980,818

• 23 · Insurance

  total $1,037,437 · program services $66,096 · management and general $971,341

• 24a · Other expenses: MAINTENANCE

  total $1,616,204 · program services $109,857 · management and general $1,506,347

• 24b · Other expenses: MEMBERSHIPS

  total $1,078,358 · program services $179,529 · management and general $895,434 · fundraising $3,395

• 24c · Other expenses: ENTERTAINMENT

  total $788,540 · program services $648,809 · management and general $127,870 · fundraising $11,861

• 24d · Other expenses: O&MALLOC

  total $0 · program services $7,211,504 · management and general -$7,211,504

• 24e · All other expenses

  total $281,645 · program services $236,278 · management and general $43,988 · fundraising $1,379

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $13,050 · end of year $13,350

• 2 · Savings and temporary cash investments

  beginning of year $20,614,463 · end of year $47,016,079

• 3 · Pledges and grants receivable

  beginning of year $670,048 · end of year $1,643,090

• 4 · Accounts receivable

  beginning of year $1,596,835 · end of year $2,325,854

• 7 · Other notes and loans receivable

  beginning of year $364,383 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $237,486 · end of year $489,528

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

  $211,478,498

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

  $81,535,926

• 10c · Land, buildings and equipment, net

  beginning of year $112,850,135 · end of year $129,942,572

• 11 · Investments: publicly traded securities

  beginning of year $97,802,721 · end of year $61,610,669

• 12 · Investments: other securities

  beginning of year $85,221 · end of year $86,350

• 15 · Other assets

  beginning of year $14,793,223 · end of year $195,921

• 17 · Accounts payable and accrued expenses

  beginning of year $7,028,874 · end of year $5,324,552

• 19 · Deferred revenue

  beginning of year $9,696,023 · end of year $10,242,203

• 20 · Tax-exempt bond liabilities

  beginning of year $38,688,031 · end of year $38,016,455

• 23 · Secured mortgages and notes payable

  beginning of year $6,280,668 · end of year $6,067,160

• 24 · Unsecured notes and loans payable

  beginning of year $377,464 · end of year $341,047

• 25 · Other liabilities

  beginning of year $16,441,535 · end of year $1,697,562

• 27 · Net assets without donor restrictions

  beginning of year $136,866,298 · end of year $147,578,910

• 28 · Net assets with donor restrictions

  beginning of year $33,648,672 · end of year $34,055,524

Itemized on Schedule J with no Part VII listing of the same name on this return:

The filer's explanations (Part III)

PART I, LINE 1A

GEORGE FOX OWNS A HOME THAT IS SUITABLE FOR UNIVERSITY EVENTS AND FUNCTIONS THAT ARE HOSTED BY THE UNIVERSITY PRESIDENT AND HIS/HER SPOUSE. THE PRESIDENT IS PROVIDED WITH THIS HOUSING AND THE BENEFIT IS NOT INCLUDED IN TAXABLE INCOME. IN ORDER TO ENHANCE THE INFLUENCE OF THE UNIVERSITY IN THE LOCAL COMMUNITY, ARLINGTON CLUB DUES ARE PAID FOR THE PRESIDENT. THE ARLINGTON CLUB PROVIDES A FORUM FOR NETWORKING WITHIN THE BUSINESS COMMUNITY TO FIND PEOPLE INTERESTED IN INVESTING TIME AND RESOURCES IN HIGHER EDUCATION. DUES PAID ARE NOT INCLUDED IN TAXABLE INCOME. THE PRESIDENT'S SPOUSE'S ATTENDANCE IS REQUIRED FOR SOME EVENTS AND FUNCTIONS. TRAVEL FOR THOSE EVENTS/FUNCTIONS IS CONSIDERED TO BE AN ORDINARY AND NECESSARY BUSINESS EXPENSE FOR THE PRESIDENT'S SPOUSE TO ACCOMPANY HIM AND THEREFORE IS NOT INCLUDED IN TAXABLE INCOME.

PART I, LINE 7

THESE BONUSES WERE DETERMINED AT THE DISCRETION OF THE PRESIDENT AND WERE NOT REVIEWED OR APPROVED BY THE BOARD

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CHARITABLE REMAINDER UNITRUSTS (13)

  T · CHARITABLE REMAINDER TRUST · OR · 100% owned

  Directly controlled by GEORGE FOX UNIVERSITY