Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $161,791

• 1f · All other contributions, gifts and grants

  $19,294,859

• 1g · Noncash contributions included above

  $13,885,618

• 2a · Program service revenue: TUITION & FEES

  total $30,245,625 · related or exempt $30,245,625

• 2b · Program service revenue: ROOM & BOARD

  total $7,360,309 · related or exempt $7,360,309

• 3 · Investment income

  total $2,873,207 · excluded $2,873,207

• 6a · Gross rents

  real property $406,571

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $406,571

• 6d · Net rental income or loss

  total $406,571 · excluded $406,571

• 7a · Gross sales of assets other than inventory

  securities $35,501,881 · other assets $133,481

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

  securities $30,672,254 · other assets $236,361

• 7c · Gain or loss

  securities $4,829,627 · other assets -$102,880

• 7d · Net gain or loss

  total $4,726,747 · excluded $4,726,747

• 11a · Other revenue: IT CYBER SECURITY INSURANCE

  total $502,924 · excluded $502,924

• 11b · Other revenue: INSURANCE PROCEEDS

  total $447,872 · excluded $447,872

• 11d · All other revenue

  total $139,928 · related or exempt $139,928

• 11e · Other revenue, total

  $1,090,724

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $21,766,704 · program services $21,766,704

• 5 · Compensation of officers, directors and key employees

  total $1,517,252 · program services $325,514 · management and general $1,191,738

• 7 · Other salaries and wages

  total $12,377,257 · program services $10,574,132 · management and general $1,560,539 · fundraising $242,586

• 8 · Pension plan contributions

  total $896,580 · program services $741,821 · management and general $140,619 · fundraising $14,140

• 9 · Other employee benefits

  total $1,872,861 · program services $1,210,677 · management and general $644,089 · fundraising $18,095

• 10 · Payroll taxes

  total $803,240 · program services $616,011 · management and general $171,885 · fundraising $15,344

• 11b · Fees: legal

  total $277,084 · program services $93,441 · management and general $183,643

• 11f · Fees: investment management

  total $368,255 · management and general $368,255

• 11g · Fees: other

  total $3,648,077 · program services $3,130,389 · management and general $501,667 · fundraising $16,021

• 12 · Advertising and promotion

  total $70,255 · program services $64,277 · management and general $5,978

• 13 · Office expenses

  total $938,819 · program services $691,505 · management and general $228,990 · fundraising $18,324

• 16 · Occupancy

  total $2,055,436 · program services $1,747,599 · management and general $281,285 · fundraising $26,552

• 17 · Travel

  total $680,526 · program services $637,643 · management and general -$7,057 · fundraising $49,940

• 20 · Interest

  total $854,411 · management and general $854,411

• 22 · Depreciation, depletion and amortization

  total $4,342,886 · program services $4,224,876 · management and general $83,591 · fundraising $34,419

• 23 · Insurance

  total $876,274 · program services $857,600 · management and general $11,824 · fundraising $6,850

• 24a · Other expenses: DINING SERVICES

  total $3,356,478 · program services $3,305,209 · management and general $49,510 · fundraising $1,759

• 24b · Other expenses: REPAIRS & MAINTENANCE

  total $1,864,727 · program services $1,117,150 · management and general $629,019 · fundraising $118,558

• 24c · Other expenses: MEMBERSHIP & EVENTS

  total $466,945 · program services $230,484 · management and general $226,982 · fundraising $9,479

• 24d · Other expenses: OFF CAMPUS PROGRAMS

  total $69,348 · program services $69,348

• 24e · All other expenses

  total $535,769 · program services $515,097 · management and general $19,063 · fundraising $1,609

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,581,804 · end of year $4,821,221

• 3 · Pledges and grants receivable

  beginning of year $2,283,076 · end of year $1,287,615

• 4 · Accounts receivable

  beginning of year $134,791 · end of year $128,238

• 7 · Other notes and loans receivable

  beginning of year $402,199 · end of year $110,533

• 8 · Inventories for sale or use

  beginning of year $25,068 · end of year $12,534

• 9 · Prepaid expenses and deferred charges

  beginning of year $383,917 · end of year $601,414

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

  $218,592,615

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

  $106,331,593

• 10c · Land, buildings and equipment, net

  beginning of year $101,103,548 · end of year $112,261,022

• 11 · Investments: publicly traded securities

  beginning of year $112,405,515 · end of year $116,952,027

• 12 · Investments: other securities

  beginning of year $72,710 · end of year $62,634

• 15 · Other assets

  beginning of year $4,194,515 · end of year $5,761,898

• 17 · Accounts payable and accrued expenses

  beginning of year $5,140,196 · end of year $5,894,506

• 18 · Grants payable

  beginning of year $668,166 · end of year $373,095

• 19 · Deferred revenue

  beginning of year $824,677 · end of year $694,848

• 20 · Tax-exempt bond liabilities

  beginning of year $18,575,874 · end of year $16,556,591

• 25 · Other liabilities

  beginning of year $4,056,041 · end of year $7,601,357

• 27 · Net assets without donor restrictions

  beginning of year $78,220,003 · end of year $88,895,914

• 28 · Net assets with donor restrictions

  beginning of year $117,102,186 · end of year $121,982,825

The filer's explanations (Part III)

PART I, LINE 1A

THE PRESIDENT OF THE COLLEGE IS REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF HIS EMPLOYMENT, CUSTODIAL CARE IS PROVIDED AT HIS RESIDENCE.