Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $5,219,524

• 1f · All other contributions, gifts and grants

  $19,165,317

• 1g · Noncash contributions included above

  $59,659

• 2a · Program service revenue: STUDENT FEES

  total $40,629,069 · related or exempt $40,629,069

• 2b · Program service revenue: ROOM & BOARD

  total $10,072,049 · related or exempt $10,072,049

• 3 · Investment income

  total $1,829,662 · unrelated business -$162,520 · excluded $1,992,182

• 6a · Gross rents

  real property $332,428

• 6b · Less rental expenses

  real property $131,712

• 6c · Rental income or loss

  real property $200,716

• 6d · Net rental income or loss

  total $200,716 · unrelated business $200,716

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

  securities $3,419,105

• 7c · Gain or loss

  securities -$3,419,105

• 7d · Net gain or loss

  total -$3,419,105 · excluded -$3,419,105

• 10a · Gross sales of inventory

  $205,497

• 10b · Cost of goods sold

  $314,037

• 10c · Net income from sales of inventory

  total -$108,540 · unrelated business -$108,540

• 11a · Other revenue: OTHER

  total $735,880 · related or exempt $735,880

• 11e · Other revenue, total

  $735,880

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $24,233,305 · program services $24,233,305

• 5 · Compensation of officers, directors and key employees

  total $1,364,129 · program services $447,734 · management and general $815,606 · fundraising $100,789

• 7 · Other salaries and wages

  total $14,841,918 · program services $12,029,849 · management and general $2,434,091 · fundraising $377,978

• 8 · Pension plan contributions

  total $1,034,717 · program services $806,672 · management and general $199,566 · fundraising $28,479

• 9 · Other employee benefits

  total $3,073,335 · program services $2,207,970 · management and general $776,754 · fundraising $88,611

• 10 · Payroll taxes

  total $1,255,549 · program services $1,009,936 · management and general $212,192 · fundraising $33,421

• 11b · Fees: legal

  total $14,426 · program services $125 · management and general $14,301

• 11c · Fees: accounting

  total $70,855 · management and general $70,855

• 11f · Fees: investment management

  total $285,290 · management and general $285,290

• 13 · Office expenses

  total $429,264 · program services $405,618 · management and general $7,466 · fundraising $16,180

• 16 · Occupancy

  total $4,847,871 · program services $2,878,518 · management and general $1,947,104 · fundraising $22,249

• 17 · Travel

  total $458,079 · program services $343,035 · management and general $78,318 · fundraising $36,726

• 20 · Interest

  total $981,702 · program services $426,276 · management and general $555,426

• 22 · Depreciation, depletion and amortization

  total $4,826,451 · program services $2,997,578 · management and general $1,828,322 · fundraising $551

• 23 · Insurance

  total $560,902 · program services $24,258 · management and general $536,644

• 24a · Other expenses: OTHER

  total $5,260,299 · program services $1,932,261 · management and general $3,268,500 · fundraising $59,538

• 24b · Other expenses: COGS

  total $2,819,198 · management and general $2,819,198

• 24c · Other expenses: ATHLETICS

  total $1,237,505 · program services $1,237,505

• 24d · Other expenses: STUDENT ACTIVITIES

  total $40,821 · program services $40,821

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,494,580 · end of year $5,773,688

• 2 · Savings and temporary cash investments

  beginning of year $799,980 · end of year $439,596

• 3 · Pledges and grants receivable

  beginning of year $832,486 · end of year $10,609,706

• 4 · Accounts receivable

  beginning of year $230,144 · end of year $329,344

• 7 · Other notes and loans receivable

  beginning of year $663,262 · end of year $478,542

• 8 · Inventories for sale or use

  beginning of year $122,169 · end of year $66,212

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,673,394 · end of year $1,334,926

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

  $160,626,927

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

  $77,825,158

• 10c · Land, buildings and equipment, net

  beginning of year $84,562,221 · end of year $82,801,769

• 11 · Investments: publicly traded securities

  beginning of year $11,407,631 · end of year $11,249,057

• 12 · Investments: other securities

  beginning of year $108,158,701 · end of year $109,446,415

• 15 · Other assets

  beginning of year $1,422,068 · end of year $4,526,626

• 17 · Accounts payable and accrued expenses

  beginning of year $2,938,323 · end of year $2,616,569

• 18 · Grants payable

  beginning of year $480,784 · end of year $361,365

• 19 · Deferred revenue

  beginning of year $4,357,370 · end of year $3,032,150

• 20 · Tax-exempt bond liabilities

  beginning of year $30,764,944 · end of year $29,269,645

• 25 · Other liabilities

  beginning of year $302,411 · end of year $326,214

• 27 · Net assets without donor restrictions

  beginning of year $55,428,947 · end of year $56,030,435

• 28 · Net assets with donor restrictions

  beginning of year $121,093,857 · end of year $135,419,503

The filer's explanations (Part III)

PART I, LINE 1A

THE UNIVERSITY PROVIDES A PARTIAL HOUSING ALLOWANCE TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL UNIVERSITY BUSINESS AND ACTIVITIES AT THE HOME. THE HOUSING PROVIDED IS TREATED AS TAXABLE INCOME.

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUSTS (2)

  INVESTMENTS · VA