Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $4,713,614

• 1f · All other contributions, gifts and grants

  $2,178,254

• 1g · Noncash contributions included above

  $155,372

• 2a · Program service revenue: EDUCATIONAL PROGRAMS

  total $188,331,354 · related or exempt $188,331,354

• 2b · Program service revenue: PATIENT CARE

  total $8,940,417 · related or exempt $8,940,417

• 2c · Program service revenue: STUDENT LOAN INTEREST

  total $54,404 · related or exempt $54,404

• 2d · Program service revenue: STUDENT HOUSING/RECREATIONAL

  total $287,248 · related or exempt $287,248

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $15,300,543 · excluded $15,300,543

• 5 · Royalties

  total $18,563 · excluded $18,563

• 6a · Gross rents

  real property $1,784,292

• 6c · Rental income or loss

  real property $1,784,292 · personal property $0

• 6d · Net rental income or loss

  total $1,784,292 · excluded $1,784,292

• 7a · Gross sales of assets other than inventory

  securities $132,810,368 · other assets $196,679

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

  securities $117,185,664 · other assets $91,869

• 7c · Gain or loss

  securities $15,624,704 · other assets $104,810

• 7d · Net gain or loss

  total $15,729,514 · excluded $15,729,514

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $1,185,834 · excluded $1,185,834

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $1,185,834

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $136,604 · program services $136,604

• 2 · Grants to domestic individuals

  total $2,125,814 · program services $2,125,814

• 5 · Compensation of officers, directors and key employees

  total $5,169,064 · program services $3,371,739 · management and general $1,797,325

• 6 · Compensation of disqualified persons

  total $144,400 · program services $144,400

• 7 · Other salaries and wages

  total $92,142,524 · program services $81,931,237 · management and general $8,891,562 · fundraising $1,319,725

• 8 · Pension plan contributions

  total $4,972,751 · program services $4,274,824 · management and general $575,935 · fundraising $121,992

• 9 · Other employee benefits

  total $11,186,157 · program services $9,531,209 · management and general $1,458,542 · fundraising $196,406

• 10 · Payroll taxes

  total $6,845,484 · program services $6,053,374 · management and general $694,841 · fundraising $97,269

• 11b · Fees: legal

  total $383,529 · program services $172,126 · management and general $211,403

• 11c · Fees: accounting

  total $116,830 · management and general $116,830

• 11d · Fees: lobbying

  total $79,000 · management and general $79,000

• 11e · Fees: professional fundraising services

  total $74,468 · fundraising $74,468

• 11f · Fees: investment management

  total $1,910,959 · management and general $1,910,959

• 11g · Fees: other

  total $9,647,604 · program services $8,332,907 · management and general $1,159,939 · fundraising $154,758

• 12 · Advertising and promotion

  total $2,829,170 · program services $2,286,957 · management and general $432,194 · fundraising $110,019

• 13 · Office expenses

  total $9,737,589 · program services $8,599,981 · management and general $980,495 · fundraising $157,113

• 14 · Information technology

  total $8,070,773 · program services $5,667,999 · management and general $2,315,078 · fundraising $87,696

• 16 · Occupancy

  total $4,876,898 · program services $4,356,344 · management and general $434,481 · fundraising $86,073

• 17 · Travel

  total $3,604,515 · program services $2,895,301 · management and general $612,927 · fundraising $96,287

• 19 · Conferences, conventions and meetings

  total $57,168 · program services $28,833 · management and general $28,335

• 20 · Interest

  total $2,899,324 · program services $2,470,380 · management and general $379,453 · fundraising $49,491

• 22 · Depreciation, depletion and amortization

  total $7,977,289 · program services $7,031,522 · management and general $848,954 · fundraising $96,813

• 23 · Insurance

  total $488,811 · program services $400,248 · management and general $81,409 · fundraising $7,154

• 24a · Other expenses: CLINICAL ROTATIONS

  total $11,439,118 · program services $11,439,118

• 24b · Other expenses: SUBSCRIPTIONS

  total $2,425,376 · program services $2,359,358 · management and general $51,187 · fundraising $14,831

• 24c · Other expenses: MEMBERSHIP & DUES

  total $1,452,493 · program services $1,324,504 · management and general $119,258 · fundraising $8,731

• 24d · Other expenses: OTHER EXPENSES

  total $769,490 · program services $434,198 · management and general $335,292

• 24e · All other expenses

  total $477,564 · program services $477,564 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,650 · end of year $3,600

• 2 · Savings and temporary cash investments

  beginning of year $66,853,112 · end of year $78,668,789

• 3 · Pledges and grants receivable

  beginning of year $1,312,258 · end of year $1,080,143

• 4 · Accounts receivable

  beginning of year $8,943,234 · end of year $15,078,465

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $490,972 · end of year $344,889

• 9 · Prepaid expenses and deferred charges

  beginning of year $14,490,225 · end of year $15,527,054

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

  $214,959,821

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

  $111,147,819

• 10c · Land, buildings and equipment, net

  beginning of year $107,681,149 · end of year $103,812,002

• 11 · Investments: publicly traded securities

  beginning of year $328,911,501 · end of year $374,381,970

• 12 · Investments: other securities

  beginning of year $3,268,738

• 13 · Investments: program-related

  beginning of year $2,135,211 · end of year $1,819,855

• 15 · Other assets

  beginning of year $9,884,785 · end of year $9,851,728

• 17 · Accounts payable and accrued expenses

  beginning of year $21,290,793 · end of year $24,160,894

• 18 · Grants payable

  beginning of year $350,090 · end of year $275,367

• 19 · Deferred revenue

  beginning of year $20,211,251 · end of year $24,295,792

• 20 · Tax-exempt bond liabilities

  beginning of year $76,447,993 · end of year $73,673,147

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $2,524,360 · end of year $2,451,482

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $2,490,279 · end of year $1,359,234

• 27 · Net assets without donor restrictions

  beginning of year $315,789,381 · end of year $362,331,386

• 28 · Net assets with donor restrictions

  beginning of year $104,870,688 · end of year $112,021,193

The filer's explanations (Part III)

Schedule J, Part I, Line 4a Severance or change-of-control payment

Dr. McLeod receiveda severance payment of $94,175 on 6/30/25

Schedule J, Part I, Line 1a Items added to Chancellor's W-2

THE UNIVERSITY PROVIDES CONTRACT-NEGOTIATED FRINGE BENEFITS, A HOUSING ALLOWANCE AND SPOUSE TRAVEL EXPENSES, TO THE CHANCELLOR. THE CONTRACT-NEGOTIATED FRINGE BENEFITS ARE REPORTED AS TAXABLE INCOME ON THE CHANCELLOR'S W-2. THE HOUSING ALLOWANCE SUPPORTS HOUSING IN AZ AND A UNIVERSITY-OWNED PROPERTY IN KIRKSVILLE, MO. SPOUSE TRAVEL EXPENSES ARE SUBJECT TO THE REIMBURSEMENT LIMITATIONS/RESTRICTIONS IN ATSU POLICY 50-101 TRAVEL. ATSU OFFERS FITNESS BENEFITS WHICH INCLUDES HEALTH CLUB DUES/MEMBERSHIPS. THE BENEFIT IS ADMINISTERED CONSISTENTLY ACROSS EMPLOYEE GROUPS AND IS SUBJECT TO ELIGIBILITY REQUIREMENTS AND AVAILABILITY. THIS STANDARD BENEFIT, USED BY THE CHANCELLOR, IS ALSO REPORTED AS INCOME ON EMPLOYEES' W-2S.

Schedule J, Part I, Line 4b Supplemental Nonqualified Retirement Plan

DURING THE TERM OF THE CHANCELLOR'S EMPLOYMENT WITH THE INSTITUTION AS PROVIDED IN THE CHANCELLOR'S EMPLOYMENT AGREEMENT WITH ATSU DATED JULY, 2020. ON OR AROUND AUGUST 1 INSTITUTION WILL REMIT TO CREDIT TO THE DEFERRED COMPENSATION ACCOUNT AN AMOUNT EQUAL TO UP TO 20% OF THE CHANCELLORS'S BASE SALARY PER YEAR FOR EACH FULL YEAR OF THE CHANCELLOR'S EMPLOYMENT IN AN AMOUNT EQUAL TO THE AMOUNT OF THE CHANCELLOR'S BONUS, IF ANY, AS DETERMINED BY THE INSTITUTION'S BOARD OF TRUSTEES. THE CHANCELLOR SHALL VEST IN THE DEFERRED COMPENSATION ACCOUNT ON JUNE 30, 2024, PROVIDED HE REMAINS IN CONTINUOUS EMPLOYMENT THROUGH SUCH DATE, OR UPON HIS EARLIER TERMINATION OF EMPLOYMENT DUE TO HIS DEATH OR DISABILITY OR UPON TERMINATION OF THE CHANCELLOR'S EMPLOYMENT BY ATSU WITHOUT CAUSE, AS DEFINED IN THE EMPLOYMENT AGREEMENT. 2024 ACTIVITY CRAIG M. PHELPS - ACCRUAL $ 149,332, DISTRIBUTION $ 157,231, TOTAL $ 306,563

Disregarded entities

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

• ATSUCHC-U LLC

  EDUCATION · AZ · income $0 · assets $0

  Directly controlled by ATSU