Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $4,691,455

• 1g · Noncash contributions included above

  $208,422

• 2a · Program service revenue: TUITION

  total $23,124,260 · related or exempt $23,124,260

• 2b · Program service revenue: PROGRAM SUPPORT

  total $1,277,707 · related or exempt $1,277,707

• 2c · Program service revenue: SUMMER PROGRAMS

  total $159,471 · related or exempt $159,471

• 3 · Investment income

  total $1,794,275 · excluded $1,794,275

• 6a · Gross rents

  real property $47,417

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $47,417

• 6d · Net rental income or loss

  total $47,417 · excluded $47,417

• 7a · Gross sales of assets other than inventory

  securities $7,405,688 · other assets $3,600

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

  securities $7,043,871 · other assets $62,403

• 7c · Gain or loss

  securities $361,817 · other assets -$58,803

• 7d · Net gain or loss

  total $303,014 · excluded $303,014

• 10a · Gross sales of inventory

  $301,995

• 10b · Cost of goods sold

  $294,775

• 10c · Net income from sales of inventory

  total $7,220 · excluded $7,220

• 11a · Other revenue: CHILD CARE FEES - NON-

  total $106,656 · unrelated business $106,656

• 11b · Other revenue: CHILD CARE FEES - KUA

  total $71,104 · excluded $71,104

• 11c · Other revenue: ATHLETIC FACILITY RENT

  total $19,729 · unrelated business $19,729

• 11e · Other revenue, total

  $197,489

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $6,771,551 · program services $6,771,551

• 5 · Compensation of officers, directors and key employees

  total $715,156 · program services $357,578 · management and general $357,578

• 7 · Other salaries and wages

  total $8,657,140 · program services $6,214,876 · management and general $1,548,090 · fundraising $894,174

• 8 · Pension plan contributions

  total $854,839 · program services $608,302 · management and general $165,053 · fundraising $81,484

• 9 · Other employee benefits

  total $1,280,637 · program services $906,963 · management and general $253,556 · fundraising $120,118

• 10 · Payroll taxes

  total $629,279 · program services $440,126 · management and general $132,624 · fundraising $56,529

• 11b · Fees: legal

  total $143,700 · management and general $143,700

• 11c · Fees: accounting

  total $64,384 · management and general $64,384

• 11f · Fees: investment management

  total $83,653 · management and general $83,653

• 11g · Fees: other

  total $2,014,050 · program services $1,194,910 · management and general $461,805 · fundraising $357,335

• 12 · Advertising and promotion

  total $78,814 · program services $53,124 · management and general $25,690

• 13 · Office expenses

  total $1,638,600 · program services $1,047,968 · management and general $435,746 · fundraising $154,886

• 14 · Information technology

  total $243,347 · program services $228,172 · management and general $2,000 · fundraising $13,175

• 16 · Occupancy

  total $1,311,908 · program services $1,218,530 · management and general $67,085 · fundraising $26,293

• 17 · Travel

  total $192,395 · program services $109,586 · management and general $57,069 · fundraising $25,740

• 20 · Interest

  total $487,223 · program services $455,172 · management and general $25,096 · fundraising $6,955

• 22 · Depreciation, depletion and amortization

  total $2,664,947 · program services $2,489,637 · management and general $137,268 · fundraising $38,042

• 23 · Insurance

  total $117,615 · management and general $117,615

• 24a · Other expenses: FOOD AND DINING

  total $1,946,525 · program services $1,738,235 · management and general $93,743 · fundraising $114,547

• 24b · Other expenses: ATHLETIC EXPENSES

  total $166,286 · program services $166,286

• 24c · Other expenses: MEMBERSHIP DUES

  total $53,752 · program services $12,822 · management and general $39,271 · fundraising $1,659

• 24d · Other expenses: BAD DEBTS

  total $46,605 · program services $46,605

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,730,904 · end of year $3,260,574

• 2 · Savings and temporary cash investments

  beginning of year $9,138,254 · end of year $6,659,072

• 3 · Pledges and grants receivable

  beginning of year $533,601 · end of year $2,559,570

• 4 · Accounts receivable

  beginning of year $9,557,103 · end of year $10,462,123

• 8 · Inventories for sale or use

  beginning of year $190,205 · end of year $182,384

• 9 · Prepaid expenses and deferred charges

  beginning of year $344,505 · end of year $376,157

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

  $87,623,288

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

  $39,685,934

• 10c · Land, buildings and equipment, net

  beginning of year $37,685,037 · end of year $47,937,354

• 11 · Investments: publicly traded securities

  beginning of year $65,906,250 · end of year $72,089,712

• 15 · Other assets

  beginning of year $2,353,312 · end of year $2,684,584

• 17 · Accounts payable and accrued expenses

  beginning of year $1,789,741 · end of year $3,149,298

• 19 · Deferred revenue

  beginning of year $15,625,407 · end of year $17,154,246

• 20 · Tax-exempt bond liabilities

  beginning of year $12,257,637 · end of year $19,300,083

• 23 · Secured mortgages and notes payable

  beginning of year $322,092 · end of year $281,551

• 25 · Other liabilities

  beginning of year $1,005,609 · end of year $897,408

• 27 · Net assets without donor restrictions

  beginning of year $70,081,752 · end of year $73,480,768

• 28 · Net assets with donor restrictions

  beginning of year $26,356,933 · end of year $31,948,176

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING IS PROVIDED TO A MAJORITY OF THE FACULTY, TO THE EXTENT ON-CAMPUS HOUSING IS AVAILABLE, IN ORDER FOR THE FACULTY TO FULFILL THEIR LOCO PARENTIS RESPONSIBILITIES.