Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $1,983,390

• 1e · Government grants (contributions)

  $6,547,953

• 1f · All other contributions, gifts and grants

  $50,898,868

• 1g · Noncash contributions included above

  $986,828

• 2a · Program service revenue: TUITION AND FEES

  total $172,365,289 · related or exempt $172,365,289

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $28,344,679 · related or exempt $28,344,679

• 2c · Program service revenue: EDUCATION SERVICES

  total $11,349,420 · related or exempt $11,349,420

• 3 · Investment income

  total $16,484,444 · unrelated business $9,680,305 · excluded $6,804,139

• 5 · Royalties

  total $19,152,647 · excluded $19,152,647

• 6a · Gross rents

  real property $1,327,734

• 6b · Less rental expenses

  real property $762,529

• 6c · Rental income or loss

  real property $565,205

• 6d · Net rental income or loss

  total $565,205 · unrelated business -$1,820 · excluded $567,025

• 7a · Gross sales of assets other than inventory

  securities $372,912,517

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

  securities $320,242,514

• 7c · Gain or loss

  securities $52,670,003

• 7d · Net gain or loss

  total $52,670,003 · excluded $52,670,003

• 10a · Gross sales of inventory

  $524,995

• 10b · Cost of goods sold

  $274,610

• 10c · Net income from sales of inventory

  total $250,385 · excluded $250,385

• 11a · Other revenue: OTHER INCOME

  total $1,002,483 · related or exempt $1,002,483

• 11e · Other revenue, total

  $1,002,483

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $335,055 · program services $335,055

• 2 · Grants to domestic individuals

  total $83,825,211 · program services $83,825,211

• 5 · Compensation of officers, directors and key employees

  total $4,523,872 · program services $698,603 · management and general $3,102,792 · fundraising $722,477

• 7 · Other salaries and wages

  total $73,155,664 · program services $58,237,242 · management and general $12,540,264 · fundraising $2,378,158

• 8 · Pension plan contributions

  total $3,589,410 · program services $2,857,432 · management and general $615,293 · fundraising $116,685

• 9 · Other employee benefits

  total $12,576,919 · program services $10,012,144 · management and general $2,155,922 · fundraising $408,853

• 10 · Payroll taxes

  total $4,954,440 · program services $3,944,095 · management and general $849,285 · fundraising $161,060

• 11b · Fees: legal

  total $213,828 · program services $66,335 · management and general $147,493

• 11c · Fees: accounting

  total $155,859 · program services $713 · management and general $155,146

• 11f · Fees: investment management

  total $1,971,851 · management and general $1,971,851

• 11g · Fees: other

  total $6,560,165 · program services $4,275,133 · management and general $2,193,029 · fundraising $92,003

• 12 · Advertising and promotion

  total $7,428,231 · program services $698,208 · management and general $6,692,136 · fundraising $37,887

• 13 · Office expenses

  total $6,238,976 · program services $4,505,671 · management and general $1,576,899 · fundraising $156,406

• 14 · Information technology

  total $6,749,657 · program services $3,494,664 · management and general $3,189,351 · fundraising $65,642

• 15 · Royalties

  total $211,786 · program services $211,786

• 16 · Occupancy

  total $6,770,876 · program services $1,175,187 · management and general $5,593,911 · fundraising $1,778

• 17 · Travel

  total $9,392,447 · program services $8,488,515 · management and general $788,246 · fundraising $115,686

• 19 · Conferences, conventions and meetings

  total $806,330 · program services $625,059 · management and general $178,559 · fundraising $2,712

• 20 · Interest

  total $9,641,563 · management and general $9,641,563

• 22 · Depreciation, depletion and amortization

  total $13,084,453 · management and general $13,084,453

• 23 · Insurance

  total $2,935,590 · program services $329,438 · management and general $2,606,152

• 24a · Other expenses: DINING SERVICE CONTRACT

  total $8,314,187 · program services $8,314,187

• 24b · Other expenses: REPAIRS, MAINTENANCE &

  total $3,909,021 · program services $1,065,900 · management and general $2,833,365 · fundraising $9,756

• 24c · Other expenses: STUDENT DEVELOPMENT/REC

  total $1,231,431 · program services $1,224,119 · management and general $7,312

• 24d · Other expenses: BAD DEBT EXPENSE

  total $1,209,855 · management and general $1,209,855

• 24e · All other expenses

  total $3,640,866 · program services $2,938,581 · management and general $508,847 · fundraising $193,438

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year -$742,212 · end of year -$147,764

• 2 · Savings and temporary cash investments

  beginning of year $42,480,647 · end of year $24,246,012

• 3 · Pledges and grants receivable

  beginning of year $20,082,255 · end of year $27,910,396

• 4 · Accounts receivable

  beginning of year $19,088,232 · end of year $21,150,240

• 5 · Loans and receivables from officers and key people

  beginning of year $1,515,924 · end of year $1,534,641

• 8 · Inventories for sale or use

  beginning of year $755,765 · end of year $710,472

• 9 · Prepaid expenses and deferred charges

  beginning of year $7,389,211 · end of year $11,729,325

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

  $670,668,193

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

  $191,958,265

• 10c · Land, buildings and equipment, net

  beginning of year $463,360,238 · end of year $478,709,928

• 11 · Investments: publicly traded securities

  beginning of year $185,156,911 · end of year $254,917,846

• 12 · Investments: other securities

  beginning of year $396,066,935 · end of year $394,048,409

• 15 · Other assets

  beginning of year $106,814,799 · end of year $108,713,817

• 17 · Accounts payable and accrued expenses

  beginning of year $19,241,313 · end of year $15,663,540

• 20 · Tax-exempt bond liabilities

  beginning of year $170,839,999 · end of year $169,273,332

• 23 · Secured mortgages and notes payable

  beginning of year $74,960,000 · end of year $74,960,000

• 24 · Unsecured notes and loans payable

  beginning of year $6,699,471 · end of year $6,239,997

• 25 · Other liabilities

  beginning of year $45,782,025 · end of year $64,680,951

• 27 · Net assets without donor restrictions

  beginning of year $506,830,012 · end of year $540,258,365

• 28 · Net assets with donor restrictions

  beginning of year $417,615,885 · end of year $452,447,137

The filer's explanations (Part III)

PART I, LINE 1A

CHARTER TRAVEL WAS PAID FOR ON BEHALF OF THE PRESIDENTS OFFICE. THE EXPENSE WAS NOT INCLUDED AS TAXABLE COMPENSATION BECAUSE THE TRAVEL WAS FOR A BONA FIDE BUSINESS PURPOSE. MINISTERIAL HOUSING ALLOWANCE IS OFFERED TO QUALIFIED FACULTY AND ADMINISTRATORS OF THE UNIVERSITY. TWO LISTED PERSONS RECEIVED THIS BENEFIT. THE HOUSING ALLOWANCE IS NOT INCLUDED AS TAXABLE COMPENSATION TO THE EMPLOYEE. COUNTRY CLUB DUES WERE PAID ON BEHALF OF ONE ATHLETIC STAFF. THE DUES WERE REPORTED AS TAXABLE COMPENSATION.

PART I, LINE 3

IN A PREVIOUS FISCAL YEAR, ACU IMPLEMENTED SPLIT-DOLLAR LIFE INSURANCE POLICIES FOR ROYCE MONEY AND JACK RICH. THE POLICIES ARE TREATED AS LOANS TO THE EMPLOYEES AND REPRESENTATIONS AS REQUIRED BY REG 1.7872-15(D)(2) HAVE BEEN SIGNED.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• ARL MULTI-FAMILY LLC

  REAL ESTATE VENTURE · TX · assets $1,583,000

  Directly controlled by ABILENE CHRISTIAN UNIVERSITY

• ARL RETAIL LLC

  REAL ESTATE VENTURE · TX · income $449,950 · assets $17,876,604

  Directly controlled by ABILENE CHRISTIAN UNIVERSITY