Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $0

• 1b · Membership dues

  $0

• 1c · Fundraising events

  $56,802

• 1d · Related organizations

  $0

• 1e · Government grants (contributions)

  $2,242,995

• 1f · All other contributions, gifts and grants

  $7,557,129

• 1g · Noncash contributions included above

  $248,066

• 2a · Program service revenue: TUITION AND FEES

  total $97,209,773 · related or exempt $97,209,773

• 2b · Program service revenue: AUXILIARY SERVICES

  total $21,388,247 · related or exempt $21,388,247

• 2c · Program service revenue: CONTINUING EDUCATION

  total $7,226,472 · related or exempt $7,174,787 · unrelated business $51,685

• 2f · All other program service revenue

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

• 3 · Investment income

  total $7,454,465 · unrelated business -$31,139 · excluded $7,485,604

• 5 · Royalties

  total $0 · related or exempt $0

• 6a · Gross rents

  real property $28,141 · personal property $0

• 6c · Rental income or loss

  real property $28,141 · personal property $0

• 6d · Net rental income or loss

  total $28,141 · excluded $28,141

• 7a · Gross sales of assets other than inventory

  securities -$51,001 · other assets $13,280

• 7c · Gain or loss

  securities -$51,001 · other assets $13,280

• 7d · Net gain or loss

  total -$37,721 · excluded -$37,721

• 8a · Fundraising events: gross income

  $105,186

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

  $56,802

• 8b · Fundraising events: direct expenses

  $52,607

• 8c · Net income from fundraising events

  total $52,579 · excluded $52,579

• 9c · Net income from gaming

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

• 10a · Gross sales of inventory

  $56,764

• 10c · Net income from sales of inventory

  total $56,764 · excluded $56,764

• 11a · Other revenue: WATERFRONT PROGRAMS

  total $199,317 · related or exempt $199,317

• 11b · Other revenue: ATHLETIC EVENTS

  total $71,268 · related or exempt $71,268

• 11c · Other revenue: BOOKSTORE REVENUE

  total $80,509 · related or exempt $80,509

• 11d · All other revenue

  total $283,550 · related or exempt $283,550 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $634,644

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $11,560 · program services $11,560

• 2 · Grants to domestic individuals

  total $50,230,021 · program services $50,230,021

• 3 · Grants to foreign organizations and individuals

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $2,916,715 · program services $0 · management and general $2,656,796 · fundraising $259,919

• 7 · Other salaries and wages

  total $29,402,718 · program services $21,750,809 · management and general $6,707,343 · fundraising $944,566

• 8 · Pension plan contributions

  total $2,418,757 · program services $1,692,743 · management and general $646,108 · fundraising $79,906

• 9 · Other employee benefits

  total $5,324,187 · program services $3,262,443 · management and general $1,883,999 · fundraising $177,745

• 10 · Payroll taxes

  total $2,109,609 · program services $1,488,534 · management and general $551,378 · fundraising $69,697

• 11b · Fees: legal

  total $656,996 · management and general $656,996

• 11c · Fees: accounting

  total $342,938 · management and general $342,938

• 11d · Fees: lobbying

  total $42,000 · management and general $42,000

• 11f · Fees: investment management

  total $138,780 · management and general $138,780

• 11g · Fees: other

  total $1,440,670 · program services $1,002,337 · management and general $433,833 · fundraising $4,500

• 12 · Advertising and promotion

  total $209,155 · program services $196,606 · management and general $9,058 · fundraising $3,491

• 13 · Office expenses

  total $1,821,314 · program services $1,371,836 · management and general $403,463 · fundraising $46,015

• 14 · Information technology

  total $2,668,817 · program services $486,794 · management and general $2,135,346 · fundraising $46,677

• 15 · Royalties

  total $946,660 · program services $946,660

• 16 · Occupancy

  total $4,976,575 · program services $4,900,070 · management and general $65,291 · fundraising $11,214

• 17 · Travel

  total $3,468,634 · program services $3,121,536 · management and general $262,575 · fundraising $84,523

• 19 · Conferences, conventions and meetings

  total $545,485 · program services $363,646 · management and general $154,974 · fundraising $26,865

• 20 · Interest

  total $1,303,617 · program services $1,303,617

• 22 · Depreciation, depletion and amortization

  total $8,154,361 · program services $8,154,361

• 23 · Insurance

  total $2,419,578 · program services $55,770 · management and general $2,363,808

• 24a · Other expenses: BUILDINGS & GROUNDS SERVICE

  total $6,782,338 · program services $6,775,681 · management and general $6,657

• 24b · Other expenses: FOOD SERVICES

  total $6,562,192 · program services $6,311,871 · management and general $229,529 · fundraising $20,792

• 24c · Other expenses: PROGRAM SERVICES SUPPLIES

  total $6,213,548 · program services $5,471,605 · management and general $652,752 · fundraising $89,191

• 24d · Other expenses: DONOR RELATIONS

  total $35,408 · fundraising $35,408

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $16,789,813 · end of year $12,664,424

• 2 · Savings and temporary cash investments

  beginning of year $4,783,403 · end of year $7,333,658

• 3 · Pledges and grants receivable

  beginning of year $4,788,018 · end of year $3,325,272

• 4 · Accounts receivable

  beginning of year $918,316 · end of year $2,105,335

• 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 $91,005 · end of year $81,132

• 8 · Inventories for sale or use

  beginning of year $0 · end of year $1,612,169

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,163,556 · end of year $3,289,576

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

  $258,329,529

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

  $148,086,916

• 10c · Land, buildings and equipment, net

  beginning of year $110,356,559 · end of year $110,242,613

• 11 · Investments: publicly traded securities

  beginning of year $68,257,811 · end of year $75,177,967

• 12 · Investments: other securities

  beginning of year $24,812,172 · end of year $24,371,770

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $163,100 · end of year $160,891

• 17 · Accounts payable and accrued expenses

  beginning of year $8,385,902 · end of year $6,471,214

• 19 · Deferred revenue

  beginning of year $3,569,751 · end of year $4,176,212

• 20 · Tax-exempt bond liabilities

  beginning of year $43,117,865 · end of year $41,868,571

• 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 $611,062 · end of year $501,081

• 24 · Unsecured notes and loans payable

  end of year $5,541,667

• 25 · Other liabilities

  beginning of year $296,800 · end of year $1,883,425

• 27 · Net assets without donor restrictions

  beginning of year $116,600,698 · end of year $113,131,922

• 28 · Net assets with donor restrictions

  beginning of year $60,541,675 · end of year $66,790,715

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

THE COLLEGE PRESIDENT IS ALLOWED SOME FIRST CLASS TRAVEL FOR BUSINESS, BASED ON THE DURATION AND DESTINATION OF TRAVEL, WHICH IS SPECIFIED AS A BENEFIT WITHIN HIS EMPLOYMENT CONTRACT.

Schedule J, Part I, Line 1a Travel for companions

SPOUSAL/PARTNER TRAVEL IS ALSO SPECIFIED IN THE PRESIDENT'S EMPLOYMENT CONTRACT WHICH ALLOWS FOR ONLY SUBSTANTIATED COLLEGE BUSINESS TO BE PAID BY THE COLLEGE

Schedule J, Part I, Line 1a Tax indemnification and gross-up payments

THE PRESIDENT RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS ON MOVING EXPENSE REIMBURSEMENTS. THE OFFICERS, KEY EMPLOYEES AND THREE INDIVIDUALS ON THE HIGHEST COMPENSATED EMPLOYEES LIST, ALL WHO SERVED AS MEMBERS OF EXECUTIVE STAFF RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS ON RETENTION BONUSES PAID.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

HOUSING, INCLUDING UTILITIES, IS ALSO PROVIDED TO THE PRESIDENT. AS A CONDITION OF HIS EMPLOYMENT, THE PRESIDENT IS REQUIRED TO LIVE WITHIN CLOSE PROXIMITY TO THE COLLEGE CAMPUS AND, AS SUCH, HOUSING IS CONSIDERED A WORKING CONDITION FRINGE. PERSONAL SERVICES IN THE FORM OF HOUSEKEEPING ARE PROVIDED WHEN COLLEGE EVENTS ARE HELD AT THE RESIDENCE.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

SOCIAL CLUB DUES WERE ALLOCATED BETWEEN PERSONAL AND BUSINESS USE FOR THE VICE PRESIDENT OF ADVANCEMENT, AS APPLICABLE.

Schedule J, Part I, Line 1a Personal services

PERSONAL SERVICES IN THE FORM OF HOUSEKEEPING ARE PROVIDED WHEN COLLEGE EVENTS ARE HELD AT THE RESIDENCE OF THE PRESIDENT.

Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation

THE EXECUTIVE ASSESSMENT AND COMPENSATION COMMITTEE (EACC) OF THE COLLEGE'S BOARD OF TRUSTEES ANNUALLY REVIEWS THE PRESIDENT'S PERFORMANCE AND COMPENSATION. CHANGES TO THE PRESIDENT'S COMPENSATION ARE DETERMINED BY THE EACC AND REPORTED TO THE BOARD OF TRUSTEES. IN DETERMINING THE PRESIDENT'S COMPENSATION, THE COMMITTEE RETAINED THE SERVICES OF AN INDEPENDENT COMPENSATION CONSULTANT TO PREPARE A COMPENSATION STUDY OF COMPARABLE HIGHER EDUCATION INSTITUTIONS. THE STUDY CONDUCTED IN FISCAL YEAR 2020 WAS USED IN YEARS 2021 AND 2022. THERE IS A WRITTEN EMPLOYMENT CONTRACT BETWEEN THE COLLEGE AND THE PRESIDENT.

Related corporations and trusts

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

• ECP2 INC

  C Corporation · R/E HOLDING · FL · 100% owned · share of income $0 · share of assets $0 · controlled entity

  Directly controlled by ECKERD COLLEGE