Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,013,450

• 1e · Government grants (contributions)

  $10,333,202

• 1f · All other contributions, gifts and grants

  $24,140,031

• 1g · Noncash contributions included above

  $1,927,006

• 2a · Program service revenue: TUITION AND FEES

  total $266,699,620 · related or exempt $266,699,620

• 2b · Program service revenue: ROOM REVENUE

  total $37,340,341 · related or exempt $37,340,341

• 2c · Program service revenue: BOARD REVENUE

  total $20,608,793 · related or exempt $20,608,793

• 2d · Program service revenue: ATHLETICS REVENUE

  total $12,810,216 · related or exempt $12,810,216

• 2e · Program service revenue: AUXILARY REVENUE

  total $74,839 · related or exempt $74,839

• 3 · Investment income

  total $4,652,400 · unrelated business $142,785 · excluded $4,509,615

• 5 · Royalties

  total $599,586 · excluded $599,586

• 6a · Gross rents

  real property $245,403

• 6b · Less rental expenses

  real property $253,662

• 6c · Rental income or loss

  real property -$8,259

• 6d · Net rental income or loss

  total -$8,259 · excluded -$8,259

• 7a · Gross sales of assets other than inventory

  securities $47,096,431

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

  securities $45,245,689

• 7c · Gain or loss

  securities $1,850,742

• 7d · Net gain or loss

  total $1,850,742 · excluded $1,850,742

• 8a · Fundraising events: gross income

  $333,200

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

  $1,013,450

• 8b · Fundraising events: direct expenses

  $552,883

• 8c · Net income from fundraising events

  total -$219,683 · excluded -$219,683

• 11a · Other revenue: COMMISSIONS

  total $1,023,911 · excluded $1,023,911

• 11b · Other revenue: SODEXO

  total $655,555 · related or exempt $655,555

• 11c · Other revenue: PACT PROGRAM

  total $390,586 · related or exempt $390,586

• 11d · All other revenue

  total $1,960,921 · related or exempt $800,585 · unrelated business $320,250 · excluded $840,086

• 11e · Other revenue, total

  $4,030,973

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $111,295 · program services $111,295

• 2 · Grants to domestic individuals

  total $102,278,074 · program services $102,278,074

• 5 · Compensation of officers, directors and key employees

  total $4,234,872 · program services $1,676,970 · management and general $1,921,716 · fundraising $636,186

• 6 · Compensation of disqualified persons

  total $379,497 · program services $379,497

• 7 · Other salaries and wages

  total $105,487,423 · program services $77,908,658 · management and general $24,114,183 · fundraising $3,464,582

• 8 · Pension plan contributions

  total $6,939,668 · program services $5,087,120 · management and general $1,569,971 · fundraising $282,577

• 9 · Other employee benefits

  total $17,922,588 · program services $13,157,328 · management and general $4,060,574 · fundraising $704,686

• 10 · Payroll taxes

  total $7,525,188 · program services $5,526,963 · management and general $1,705,714 · fundraising $292,511

• 11b · Fees: legal

  total $127,701 · management and general $127,701

• 11c · Fees: accounting

  total $335,585 · management and general $335,585

• 11d · Fees: lobbying

  total $18,000 · program services $13,755 · management and general $4,245

• 11f · Fees: investment management

  total $2,691,671 · management and general $2,691,671

• 11g · Fees: other

  total $8,903,683 · program services $6,588,452 · management and general $2,033,308 · fundraising $281,923

• 12 · Advertising and promotion

  total $639,787 · program services $488,903 · management and general $150,884

• 13 · Office expenses

  total $1,902,546 · program services $1,403,310 · management and general $433,085 · fundraising $66,151

• 14 · Information technology

  total $5,888,800 · program services $4,500,018 · management and general $1,388,782

• 16 · Occupancy

  total $6,520,518 · program services $4,891,159 · management and general $1,509,494 · fundraising $119,865

• 17 · Travel

  total $3,019,484 · program services $1,982,844 · management and general $611,939 · fundraising $424,701

• 20 · Interest

  total $9,817,858 · program services $7,502,469 · management and general $2,315,389

• 22 · Depreciation, depletion and amortization

  total $28,988,729 · program services $22,106,437 · management and general $6,822,420 · fundraising $59,872

• 23 · Insurance

  total $1,895,064 · program services $1,448,143 · management and general $446,921

• 24a · Other expenses: FOOD SERVICE

  total $17,155,341 · program services $16,914,373 · management and general $162,739 · fundraising $78,229

• 24b · Other expenses: BUILDING AND GROUNDS

  total $12,558,900 · program services $9,597,079 · management and general $2,961,821

• 24c · Other expenses: ATHLETICS GAMES/SUPPLIE

  total $6,729,184 · program services $6,729,184

• 24d · Other expenses: TUITION - OTHER SCHOOLS

  total $6,334,982 · program services $6,334,982

• 24e · All other expenses

  total $19,455,752 · program services $15,258,777 · management and general $3,826,090 · fundraising $370,885

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $38,351,616 · end of year $28,281,634

• 3 · Pledges and grants receivable

  beginning of year $28,661,706 · end of year $24,371,391

• 4 · Accounts receivable

  beginning of year $5,046,851 · end of year $5,656,690

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $300,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,589,041 · end of year $2,119,285

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

  $1,088,637,621

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

  $426,644,175

• 10c · Land, buildings and equipment, net

  beginning of year $580,875,653 · end of year $661,993,446

• 11 · Investments: publicly traded securities

  beginning of year $47,396,321 · end of year $82,062,255

• 12 · Investments: other securities

  beginning of year $277,051,988 · end of year $273,684,676

• 15 · Other assets

  beginning of year $65,285,105 · end of year $5,808,275

• 17 · Accounts payable and accrued expenses

  beginning of year $31,020,500 · end of year $37,580,129

• 19 · Deferred revenue

  beginning of year $15,152,309 · end of year $22,576,436

• 20 · Tax-exempt bond liabilities

  beginning of year $309,947,104 · end of year $300,331,687

• 25 · Other liabilities

  beginning of year $3,168,269 · end of year $2,305,094

• 27 · Net assets without donor restrictions

  beginning of year $412,523,354 · end of year $425,414,460

• 28 · Net assets with donor restrictions

  beginning of year $272,446,745 · end of year $296,069,846

The filer's explanations (Part III)

PART I, LINE 1A

SOME COACHES AND OFFICERS TRAVEL ON CHARTER FLIGHTS AS PART OF THEIR RESPONSIBILITIES. THIS TRAVEL IS CONSIDERED DIRECTLY RELATED TO THE COLLEGE'S BUSINESS PURPOSE AND THUS NOT TREATED AS TAXABLE COMPENSATION. SOME OFFICERS WERE PROVIDED WITH COMPANION TRAVEL. THE COST OF SUCH TRAVEL WAS TREATED AS TAXABLE COMPENSATION. THREE OFFICERS OF THE COLLEGE, WHO ARE MEMBERS OF THE DOMINICAN FRIARS, A CATHOLIC RELIGIOUS ORDER, WERE PROVIDED WITH ON-CAMPUS HOUSING. THE HOUSING WAS NOT TREATED AS TAXABLE COMPENSATION. THE COLLEGE'S PRESIDENT, SOME OFFICERS, AND SOME COACHES WERE PROVIDED WITH SOCIAL CLUB MEMBERSHIPS PAID BY THE COLLEGE. THE MEMBERSHIP DUES PAID FOR THE PRESIDENT WERE EXLCUDED FROM HIS INCOME AS AN ORDINARY AND NECESSARY BUSINESS EXPENSE UNDER CODE 162. THE MEMBERSHIP DUES PAID FOR OFFICERS AND COACHES WERE TREATED AS TAXABLE COMPENSATION.

PART I, LINE 4B

4B - SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN CERTAIN HIGHLY COMPENSATED EMPLOYEES PARTICIPATE IN A NONQUALIFIED 457(F) PLAN: CONTRIBUTIONS MADE: STEVEN NAPOLILLO $50,000 PAYMENTS MADE OF PREVIOUSLY CONTRIBUTED AMOUNTS: NATHAN LEAMAN $276,612

PART I, LINE 7

SOME OFFICERS WERE PROVIDED WITH DISCRETIONARY BONUSES WHICH WERE APPROVED BY THE PRESIDENT.

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUSTS (5)

  T · INVESTING · RI · controlled entity

• CHARITABLE PERPETUAL TRUSTS (3)

  T · INVESTING · RI · controlled entity