Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $532,000

• 1e · Government grants (contributions)

  $48,460,000

• 1f · All other contributions, gifts and grants

  $15,930,000

• 1g · Noncash contributions included above

  $1,810,000

• 2a · Program service revenue: TUITION AND FEES

  total $419,607,000 · related or exempt $419,607,000

• 2b · Program service revenue: ROOM AND BOARD

  total $39,295,000 · related or exempt $39,295,000

• 2c · Program service revenue: GOV. AGENCY CONTRACTS

  total $386,000 · related or exempt $386,000

• 3 · Investment income

  total $12,316,000 · unrelated business $3,254,000 · excluded $9,062,000

• 4 · Income from investment of tax-exempt bond proceeds

  total $3,071,000 · excluded $3,071,000

• 5 · Royalties

  total $211,000 · excluded $211,000

• 6a · Gross rents

  real property $105,000

• 6b · Less rental expenses

  real property $34,000

• 6c · Rental income or loss

  real property $71,000

• 6d · Net rental income or loss

  total $71,000 · excluded $71,000

• 7a · Gross sales of assets other than inventory

  securities $62,685,000 · other assets $234,000

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

  securities $54,477,000 · other assets $0

• 7c · Gain or loss

  securities $8,208,000 · other assets $234,000

• 7d · Net gain or loss

  total $8,442,000 · unrelated business $45,000 · excluded $8,397,000

• 8a · Fundraising events: gross income

  $579,000

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

  $532,000

• 8b · Fundraising events: direct expenses

  $632,000

• 8c · Net income from fundraising events

  total -$53,000 · excluded -$53,000

• 11a · Other revenue: NCAA/CONF. DISTRIB.

  total $4,933,000 · related or exempt $4,933,000

• 11b · Other revenue: ATHLETIC REVENUE

  total $3,952,000 · related or exempt $3,952,000

• 11c · Other revenue: PARKING

  total $1,544,000 · excluded $1,544,000

• 11d · All other revenue

  total $5,116,000 · related or exempt $3,713,000 · unrelated business $636,000 · excluded $767,000

• 11e · Other revenue, total

  $15,545,000

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,311,000 · program services $1,311,000

• 2 · Grants to domestic individuals

  total $209,442,000 · program services $209,442,000

• 5 · Compensation of officers, directors and key employees

  total $8,575,000 · program services $3,027,000 · management and general $4,169,000 · fundraising $1,379,000

• 6 · Compensation of disqualified persons

  total $828,000 · program services $669,000 · management and general $159,000

• 7 · Other salaries and wages

  total $138,461,000 · program services $116,358,000 · management and general $18,024,000 · fundraising $4,079,000

• 8 · Pension plan contributions

  total $7,729,000 · program services $6,495,000 · management and general $1,006,000 · fundraising $228,000

• 9 · Other employee benefits

  total $32,960,000 · program services $26,791,000 · management and general $4,880,000 · fundraising $1,289,000

• 10 · Payroll taxes

  total $10,862,000 · program services $9,126,000 · management and general $1,417,000 · fundraising $319,000

• 11a · Fees: management

  total $162,000 · program services $141,000 · management and general $21,000

• 11b · Fees: legal

  total $3,508,000 · program services $12,000 · management and general $3,496,000

• 11c · Fees: accounting

  total $343,000 · management and general $343,000

• 11d · Fees: lobbying

  total $220,000 · management and general $220,000

• 11e · Fees: professional fundraising services

  total $180,000 · fundraising $180,000

• 11f · Fees: investment management

  total $3,998,000 · management and general $3,998,000

• 11g · Fees: other

  total $32,911,000 · program services $28,262,000 · management and general $4,399,000 · fundraising $250,000

• 12 · Advertising and promotion

  total $3,066,000 · program services $2,368,000 · management and general $500,000 · fundraising $198,000

• 13 · Office expenses

  total $6,942,000 · program services $4,456,000 · management and general $2,098,000 · fundraising $388,000

• 14 · Information technology

  total $6,677,000 · program services $1,870,000 · management and general $4,805,000 · fundraising $2,000

• 16 · Occupancy

  total $12,760,000 · program services $12,760,000

• 17 · Travel

  total $9,790,000 · program services $8,773,000 · management and general $750,000 · fundraising $267,000

• 19 · Conferences, conventions and meetings

  total $4,118,000 · program services $3,367,000 · management and general $617,000 · fundraising $134,000

• 20 · Interest

  total $10,864,000 · program services $10,785,000 · management and general $79,000

• 22 · Depreciation, depletion and amortization

  total $23,783,000 · program services $22,424,000 · management and general $1,265,000 · fundraising $94,000

• 23 · Insurance

  total $4,094,000 · program services $179,000 · management and general $3,915,000

• 24a · Other expenses: REPAIRS AND MAINTENANCE

  total $7,861,000 · program services $7,342,000 · management and general $389,000 · fundraising $130,000

• 24b · Other expenses: ALL OTHER EXPENSES

  total $4,090,000 · program services $2,294,000 · management and general $1,722,000 · fundraising $74,000

• 24c · Other expenses: BOOKS AND SUBSCRIPTIONS

  total $3,422,000 · program services $3,295,000 · management and general $114,000 · fundraising $13,000

• 24d · Other expenses: BAD DEBT EXPENSE

  total $1,733,000 · management and general $1,733,000

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $81,293,000 · end of year $87,620,000

• 3 · Pledges and grants receivable

  beginning of year $27,741,000 · end of year $30,504,000

• 4 · Accounts receivable

  beginning of year $4,434,000 · end of year $5,259,000

• 7 · Other notes and loans receivable

  beginning of year $1,818,000 · end of year $1,179,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $17,257,000 · end of year $22,365,000

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

  $714,736,000

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

  $356,821,000

• 10c · Land, buildings and equipment, net

  beginning of year $346,264,000 · end of year $357,915,000

• 11 · Investments: publicly traded securities

  beginning of year $93,482,000 · end of year $149,619,000

• 12 · Investments: other securities

  beginning of year $235,155,000 · end of year $208,284,000

• 15 · Other assets

  beginning of year $74,300,000 · end of year $58,943,000

• 17 · Accounts payable and accrued expenses

  beginning of year $50,943,000 · end of year $55,717,000

• 19 · Deferred revenue

  beginning of year $15,282,000 · end of year $16,762,000

• 20 · Tax-exempt bond liabilities

  beginning of year $179,933,000 · end of year $177,067,000

• 25 · Other liabilities

  beginning of year $121,853,000 · end of year $119,585,000

• 27 · Net assets without donor restrictions

  beginning of year $270,658,000 · end of year $287,322,000

• 28 · Net assets with donor restrictions

  beginning of year $243,075,000 · end of year $265,235,000

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING AND RELATED SERVICES ARE PROVIDED AT NO CHARGE TO MEMBERS OF ITS PRIEST COMMUNITY, WHICH INCLUDES AN OFFICER AND CERTAIN REGENTS AND TRUSTEES AS REFLECTED IN PART VII OF THE FORM 990. WHERE APPROPRIATE, THE VALUE OF THESE HOUSING AND RELATED BENEFITS IS REFLECTED IN PART VII, SECTION A, COLUMN F AS OTHER COMPENSATION AND IN SCHEDULE J, PART II AS NONTAXABLE BENEFITS FOR THE PRIEST WHO MET THE COMPENSATION REQUIREMENT FOR INCLUSION IN SCHEDULE J. MEMBERSHIP FEES FOR ITS WOMEN'S BASKETBALL COACH, ANTHONY BOZZELLA, ITS ATHLETICS DIRECTOR, BRYAN FELT, AND ITS EVP/CHIEF OF STAFF, PATRICK G. LYONS, WERE PAID BY THE UNIVERSITY TO ASSIST SUCH INDIVIDUALS IN THEIR DUTIES INVOLVING DONOR CULTIVATION AND FUNDRAISING FOR THE UNIVERSITY. THE FEES ASSOCIATED WITH THEIR BUSINESS-RELATED ATTENDANCE ARE INCLUDED IN NONTAXABLE BENEFITS IN SCHEDULE J, PART II. TO THE EXTENT OF ANY PERSONAL USAGE OF SAME, A PORTION OF THESE FEES ARE INCLUDED IN THE RECIPIENT'S TAXABLE INCOME. CERTAIN MEMBERS OF THE UNIVERSITY, INCLUDING ITS PRESIDENT, MEN'S AND WOMEN'S BASKETBALL COACHES, AND OTHER MEMBERS OF THE EXECUTIVE CABINET, ARE PERMITTED TO HAVE THEIR SPOUSES ACCOMPANY THEM TO A LIMITED NUMBER OF UNIVERSITY BUSINESS EVENTS, INCLUDING FUNDRAISING AND ALUMNI EVENTS. WHERE APPROPRIATE, THE VALUE OF PERSONAL TRAVEL BENEFITS IS INCLUDED IN THE RECIPIENT'S TAXABLE INCOME. CERTAIN MEMBERS OF THE UNIVERSITY AND ITS BOARD OF TRUSTEES INCLUDING ITS PRESIDENT, EVP/CHIEF OF STAFF, VP ADVANCEMENT, ATHLETICS DIRECTOR, AND MEN'S AND WOMEN'S BASKETBALL COACHES, TOGETHER WITH THEIR SPOUSES OR FAMILIES, WILL OCCASIONALLY JOIN THE MEN'S OR WOMEN'S BASKETBALL TEAMS ON CHARTERED FLIGHTS TO BASKETBALL TOURNAMENTS OR GAMES. JOSEPH E. NYRE, PH.D., PRESIDENT/CEO/REGENT/TRUSTEE, RESIGNED FROM THE UNIVERSITY AND RECEIVED SEVERANCE PAYMENTS.

PART I, LINES 4A-B

CERTAIN KEY EXECUTIVES OF THE UNIVERSITY PARTICIPATE IN ITS 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN, WHICH IS INTENDED TO PERMIT THE UNIVERSITY TO ATTRACT AND RETAIN TALENTED INDIVIDUALS WHILE REQUIRING SAME TO GENERALLY SATISFY CERTAIN PERFORMANCE AND EMPLOYMENT CONTINUATION REQUIREMENTS AS A PRECONDITION OF HIS OR HER RECEIPT OF ANY AMOUNTS THEREUNDER. DEFERRED AMOUNTS WHICH MAY BE PAYABLE IN THE FUTURE ARE REFLECTED IN COLUMN C OF SCHEDULE J, PART II FOR THOSE EXECUTIVES WHO MEET THE COMPENSATION REQUIREMENT FOR INCLUSION IN SCHEDULE J, DURING 2023, THE FOLLOWING EXECUTIVES PARTICIPATED IN THE DEFERRED COMPENSATION PLAN: KATIA PASSERINI $40,000 PATRICK LYONS $100,000 ALYSSA MCCLOUD $40,000 KIM CAPADONA $32,623 JON PAPARSENOS $36,972 DONNA MCMONAGLE $32,960 MONICA BURNETTE $26,642

PART II

THE COMPENSATION INFORMATION REFLECTED IN THE FORM 990 IS BASED ON CALENDAR YEAR 2023 AND WAS PAYABLE (OR DISCLOSABLE, AS THE CASE MAY BE) CONSISTENT WITH THE TERMS OF EACH EXECUTIVE'S UNDERLYING EMPLOYMENT AGREEMENT AS APPLICABLE