Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $181,580

• 1f · All other contributions, gifts and grants

  $2,403,153

• 1g · Noncash contributions included above

  $71,907

• 2a · Program service revenue: TUITION AND FEES

  total $22,876,171 · related or exempt $22,876,171

• 2b · Program service revenue: SPECIAL EVENTS

  total $970,257 · related or exempt $970,257

• 3 · Investment income

  total $2,079,368 · excluded $2,079,368

• 7a · Gross sales of assets other than inventory

  securities $8,635,256 · other assets $300

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

  securities $9,054,856 · other assets $0

• 7c · Gain or loss

  securities -$419,600 · other assets $300

• 7d · Net gain or loss

  total -$419,300 · excluded -$419,300

• 8a · Fundraising events: gross income

  $68,020

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

  $181,580

• 8b · Fundraising events: direct expenses

  $110,237

• 8c · Net income from fundraising events

  total -$42,217 · excluded -$42,217

• 10a · Gross sales of inventory

  $95,930

• 10b · Cost of goods sold

  $69,409

• 10c · Net income from sales of inventory

  total $26,521 · related or exempt $26,521

• 11a · Other revenue: ISAACS ART GALLERY

  total $478,450 · unrelated business $478,450

• 11b · Other revenue: OTHER INCOME

  total $498 · related or exempt $498

• 11e · Other revenue, total

  $478,948

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $3,173,300 · program services $3,173,300

• 5 · Compensation of officers, directors and key employees

  total $435,693 · program services $130,708 · management and general $261,416 · fundraising $43,569

• 7 · Other salaries and wages

  total $11,444,740 · program services $9,175,421 · management and general $1,766,648 · fundraising $502,671

• 8 · Pension plan contributions

  total $1,000,039 · program services $780,436 · management and general $203,690 · fundraising $15,913

• 9 · Other employee benefits

  total $3,604,742 · program services $3,176,086 · management and general $409,074 · fundraising $19,582

• 10 · Payroll taxes

  total $976,557 · program services $779,012 · management and general $183,654 · fundraising $13,891

• 11b · Fees: legal

  total $120,707 · management and general $120,707

• 11c · Fees: accounting

  total $45,671 · management and general $45,671

• 11f · Fees: investment management

  total $151,403 · management and general $151,403

• 11g · Fees: other

  total $381,924 · program services $363,392 · management and general $18,532

• 12 · Advertising and promotion

  total $123,545 · program services $2,132 · management and general $120,881 · fundraising $532

• 13 · Office expenses

  total $1,556,145 · program services $798,042 · management and general $712,487 · fundraising $45,616

• 14 · Information technology

  total $439 · management and general $439

• 16 · Occupancy

  total $1,712,397 · program services $1,612,608 · management and general $87,875 · fundraising $11,914

• 17 · Travel

  total $132,473 · program services $118,874 · management and general $6,469 · fundraising $7,130

• 19 · Conferences, conventions and meetings

  total $106,908 · management and general $104,142 · fundraising $2,766

• 20 · Interest

  total $135,381 · management and general $135,381

• 22 · Depreciation, depletion and amortization

  total $1,554,330 · program services $1,476,614 · management and general $77,716

• 24a · Other expenses: FOOD SERVICES

  total $1,739,754 · program services $1,723,780 · management and general $9,333 · fundraising $6,641

• 24b · Other expenses: STUDENT ACTIVITIES

  total $461,047 · program services $461,047

• 24c · Other expenses: ART CENTER OPERATIONS

  total $319,318 · program services $316,125 · management and general $3,193

• 24d · Other expenses: BAD DEBT

  total $77,144 · management and general $77,144

• 24e · All other expenses

  total $282,147 · program services $25,895 · management and general $227,923 · fundraising $28,329

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $547,402 · end of year $1,630,886

• 2 · Savings and temporary cash investments

  beginning of year $930,475 · end of year $1,954,031

• 3 · Pledges and grants receivable

  beginning of year $295,000 · end of year $1,240,950

• 4 · Accounts receivable

  beginning of year $115,935 · end of year $107,682

• 8 · Inventories for sale or use

  beginning of year $2,361,199 · end of year $2,465,283

• 9 · Prepaid expenses and deferred charges

  beginning of year $379,991 · end of year $346,781

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

  $79,394,727

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

  $29,724,100

• 10c · Land, buildings and equipment, net

  beginning of year $50,541,570 · end of year $49,670,627

• 11 · Investments: publicly traded securities

  beginning of year $27,187,512 · end of year $25,237,608

• 15 · Other assets

  beginning of year $64,772,652 · end of year $61,645,724

• 17 · Accounts payable and accrued expenses

  beginning of year $3,262,420 · end of year $2,673,247

• 19 · Deferred revenue

  beginning of year $2,405,837 · end of year $5,033,858

• 23 · Secured mortgages and notes payable

  beginning of year $3,531,860 · end of year $3,049,751

• 24 · Unsecured notes and loans payable

  beginning of year $2,350,000 · end of year $1,880,000

• 27 · Net assets without donor restrictions

  beginning of year $49,718,867 · end of year $48,537,379

• 28 · Net assets with donor restrictions

  beginning of year $85,862,752 · end of year $83,125,337

The filer's explanations (Part III)

PART I, LINE 1A

THE HEAD OF SCHOOL RESIDES ON CAMPUS AS A CONDITION OF EMPLOYMENT. IN ADDITION, MEMBERSHIP DUES AT A SOCIAL CLUB ARE PAID BY THE SCHOOL.