Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $69,564

• 1e · Government grants (contributions)

  $2,232,809

• 1f · All other contributions, gifts and grants

  $6,462,614

• 1g · Noncash contributions included above

  $2,289,327

• 2a · Program service revenue: TUITION AND FEES

  total $96,636,871 · related or exempt $96,636,871

• 2b · Program service revenue: AUX. ENTERPRISE

  total $26,114,020 · related or exempt $24,200,992 · unrelated business $1,913,028

• 2c · Program service revenue: OTHER STUDENT SERVICES

  total $1,113,366 · related or exempt $1,113,366

• 3 · Investment income

  total $3,493,072 · excluded $3,493,072

• 6a · Gross rents

  real property $21,400

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $21,400

• 6d · Net rental income or loss

  total $21,400 · excluded $21,400

• 7a · Gross sales of assets other than inventory

  securities $7,541,832

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

  securities $3,886,669

• 7c · Gain or loss

  securities $3,655,163

• 7d · Net gain or loss

  total $3,655,163 · excluded $3,655,163

• 8a · Fundraising events: gross income

  $21,200

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

  $69,564

• 8b · Fundraising events: direct expenses

  $78,125

• 8c · Net income from fundraising events

  total -$56,925 · excluded -$56,925

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $51,389,645 · program services $51,389,645

• 5 · Compensation of officers, directors and key employees

  total $1,754,650 · program services $1,322,355 · management and general $387,822 · fundraising $44,473

• 7 · Other salaries and wages

  total $30,056,298 · program services $22,652,499 · management and general $6,643,548 · fundraising $760,251

• 8 · Pension plan contributions

  total $1,252,857 · program services $944,189 · management and general $276,913 · fundraising $31,755

• 9 · Other employee benefits

  total $6,228,379 · program services $4,693,887 · management and general $1,376,628 · fundraising $157,864

• 10 · Payroll taxes

  total $2,200,511 · program services $1,658,461 · management and general $486,395 · fundraising $55,655

• 11b · Fees: legal

  total $68,168 · program services $51,373 · management and general $15,067 · fundraising $1,728

• 11c · Fees: accounting

  total $126,613 · program services $95,419 · management and general $27,985 · fundraising $3,209

• 11f · Fees: investment management

  total $570,722 · management and general $570,722

• 11g · Fees: other

  total $4,646,350 · program services $3,536,238 · management and general $1,037,111 · fundraising $73,001

• 12 · Advertising and promotion

  total $1,470,415 · program services $1,108,516 · management and general $325,107 · fundraising $36,792

• 13 · Office expenses

  total $3,306,502 · program services $2,496,907 · management and general $732,295 · fundraising $77,300

• 14 · Information technology

  total $2,123,314 · program services $1,600,357 · management and general $469,354 · fundraising $53,603

• 16 · Occupancy

  total $13,945,284 · program services $11,521,645 · management and general $2,126,266 · fundraising $297,373

• 17 · Travel

  total $4,560,614 · program services $3,780,833 · management and general $720,268 · fundraising $59,513

• 19 · Conferences, conventions and meetings

  total $122,802 · program services $92,547 · management and general $27,142 · fundraising $3,113

• 20 · Interest

  total $1,585,937 · program services $563,579 · management and general $1,022,358

• 22 · Depreciation, depletion and amortization

  total $8,697,843 · program services $5,696,577 · management and general $2,633,516 · fundraising $367,750

• 23 · Insurance

  total $1,497,401 · program services $1,128,485 · management and general $330,963 · fundraising $37,953

• 24a · Other expenses: GENERAL INSTITUTIONAL

  total $669,994 · program services $669,994

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $5,054,472 · end of year $2,074,244

• 3 · Pledges and grants receivable

  beginning of year $4,313,892 · end of year $4,095,496

• 4 · Accounts receivable

  beginning of year $58,218,220 · end of year $70,253,778

• 5 · Loans and receivables from officers and key people

  beginning of year $3,150,000 · end of year $3,355,341

• 7 · Other notes and loans receivable

  beginning of year $1,206,778 · end of year $1,103,645

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,824,633 · end of year $3,068,340

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

  $305,525,794

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

  $111,691,966

• 10c · Land, buildings and equipment, net

  beginning of year $191,515,147 · end of year $193,833,828

• 11 · Investments: publicly traded securities

  beginning of year $146,363,877 · end of year $162,897,081

• 12 · Investments: other securities

  beginning of year $185,650 · end of year $185,650

• 15 · Other assets

  beginning of year $85,544 · end of year $84,381

• 17 · Accounts payable and accrued expenses

  beginning of year $6,535,557 · end of year $5,508,176

• 18 · Grants payable

  beginning of year $1,210,433 · end of year $1,085,786

• 19 · Deferred revenue

  beginning of year $58,691,723 · end of year $66,696,872

• 20 · Tax-exempt bond liabilities

  beginning of year $48,288,316 · end of year $51,477,071

• 24 · Unsecured notes and loans payable

  beginning of year $800,000 · end of year $836,800

• 25 · Other liabilities

  beginning of year $2,596,689 · end of year $2,234,117

• 27 · Net assets without donor restrictions

  beginning of year $166,641,379 · end of year $169,106,793

• 28 · Net assets with donor restrictions

  beginning of year $127,154,116 · end of year $144,006,169

The filer's explanations (Part III)

PART I, LINE 1A

THE PRESIDENT OF THE ORGANIZATION IS THE ONLY RECIPIENT OF THE STATED BENEFITS APART FROM SOCIAL CLUB DUES. THE PRESIDENT AND THE DIRECTOR OF ATHLETICS ARE MEMBERS OF SOCIAL CLUBS FOR THE PURPOSE OF RAISING FUNDS FOR THE COLLEGE. THIS EXPENSE IS NOT INCLUDED IN THEIR TAXABLE BENEFITS AS ITS PURPOSE IS TO BENEFIT THE COLLEGE. THE PRESIDENT'S WIFE SOMETIMES ACCOMPANIES HIM TO FUNDRAISING EVENTS. THE COLLEGE HAS DETERMINED THAT THESE EXPENSES ARE COSTS FOR FUNDRAISING AND ARE NOT CONSIDERED TAXABLE BENEFITS. THE PRESIDENT LIVES IN COLLEGE-OWNED HOUSING AND THE COLLEGE PROVIDES REGULAR LIGHT CLEANING TO THE HOME. THE VALUE OF THE HOUSING AND THE CLEANING ARE CONSIDERED NONTAXABLE FRINGE BENEFITS.

PART I, LINE 4B

CONTRIBUTION TO 457F PLAN DURING THE CALENDAR YEAR 2023 WAS $25,000 FOR DAVID TIMMERMAN AND $20,000 FOR ABIGAIL HANNA.

Related corporations and trusts

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

• CHARITABLE REMAINDER ANNUITY TRUSTS (132)

  T · CHARITABLE TRUST · WI

• CHARITABLE REMAINDER UNITRUSTS (2)

  T · CHARITABLE TRUST · WI