Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $3,012,533

• 1e · Government grants (contributions)

  $2,719,171

• 1f · All other contributions, gifts and grants

  $630,272

• 2a · Program service revenue: TUITION

  total $48,452,212 · related or exempt $48,452,212

• 2b · Program service revenue: PATIENT CARE

  total $3,884,221 · related or exempt $3,884,221

• 3 · Investment income

  total $95,702 · excluded $95,702

• 6a · Gross rents

  real property $1,150,614

• 6b · Less rental expenses

  real property $833,552

• 6c · Rental income or loss

  real property $317,062

• 6d · Net rental income or loss

  total $317,062 · excluded $317,062

• 9a · Gaming: gross income

  $46,200

• 9b · Gaming: direct expenses

  $19,075

• 9c · Net income from gaming

  total $27,125 · excluded $27,125

• 10a · Gross sales of inventory

  $1,134,926

• 10b · Cost of goods sold

  $1,079,846

• 10c · Net income from sales of inventory

  total $55,080 · related or exempt $55,080

• 11a · Other revenue: HAFTER FEES

  total $264,401 · excluded $264,401

• 11b · Other revenue: MANAGEMENT FEE

  total $255,000 · excluded $255,000

• 11d · All other revenue

  total $370,188 · excluded $370,188

• 11e · Other revenue, total

  $889,589

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $3,459,001 · program services $3,459,001

• 3 · Grants to foreign organizations and individuals

  total $17,849 · program services $17,849

• 5 · Compensation of officers, directors and key employees

  total $2,943,689 · program services $913,414 · management and general $2,030,275

• 7 · Other salaries and wages

  total $24,462,423 · program services $22,493,749 · management and general $1,659,085 · fundraising $309,589

• 8 · Pension plan contributions

  total $2,468,967 · program services $2,180,201 · management and general $259,209 · fundraising $29,557

• 9 · Other employee benefits

  total $3,866,306 · program services $3,343,734 · management and general $477,661 · fundraising $44,911

• 10 · Payroll taxes

  total $2,260,188 · program services $1,937,969 · management and general $296,494 · fundraising $25,725

• 11b · Fees: legal

  total $170,925 · program services $4,110 · management and general $166,815

• 11c · Fees: accounting

  total $106,575 · management and general $106,575

• 11g · Fees: other

  total $2,188,004 · program services $1,725,709 · management and general $278,148 · fundraising $184,147

• 12 · Advertising and promotion

  total $409,326 · program services $26,982 · management and general $382,344

• 13 · Office expenses

  total $1,108,053 · program services $925,755 · management and general $115,874 · fundraising $66,424

• 14 · Information technology

  total $2,882,114 · program services $1,546,469 · management and general $1,335,645

• 16 · Occupancy

  total $3,690,826 · program services $2,537,704 · management and general $1,153,122

• 17 · Travel

  total $553,114 · program services $491,622 · management and general $61,492

• 19 · Conferences, conventions and meetings

  total $443,678 · program services $388,351 · management and general $55,327

• 20 · Interest

  total $272,596 · program services $167,101 · management and general $105,495

• 22 · Depreciation, depletion and amortization

  total $2,906,617 · program services $2,054,979 · management and general $851,638

• 23 · Insurance

  total $637,729 · program services $339,684 · management and general $298,045

• 24a · Other expenses: MAINTENANCE

  total $3,078,174 · program services $1,257,563 · management and general $1,820,611

• 24b · Other expenses: EVENT EXPENSES

  total $429,621 · program services $152,412 · management and general $277,209

• 24c · Other expenses: PATIENT CARE

  total $409,501 · program services $409,501 · management and general $0

• 24d · Other expenses: EQUIPMENT

  total $32,189 · program services $32,189 · management and general $0

• 24e · All other expenses

  total $1,529,779 · program services $1,138,023 · management and general $328,699 · fundraising $63,057

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $500 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $13,590,151 · end of year $0

• 3 · Pledges and grants receivable

  end of year $0

• 4 · Accounts receivable

  beginning of year $4,369,475 · end of year $0

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  end of year $0

• 8 · Inventories for sale or use

  beginning of year $104,460 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,079,125 · end of year $0

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

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $38,905,297 · end of year $0

• 11 · Investments: publicly traded securities

  end of year $0

• 12 · Investments: other securities

  end of year $0

• 13 · Investments: program-related

  beginning of year $8,806,953 · end of year $0

• 14 · Intangible assets

  end of year $0

• 15 · Other assets

  beginning of year $2,812,845 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $2,956,055

• 19 · Deferred revenue

  beginning of year $6,939,470

• 20 · Tax-exempt bond liabilities

  beginning of year $12,965,035

• 23 · Secured mortgages and notes payable

  beginning of year $346,077

• 25 · Other liabilities

  beginning of year $19,790,401 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $14,856,486 · end of year $0

• 28 · Net assets with donor restrictions

  beginning of year $11,815,282 · end of year $0

The filer's explanations (Part III)

PART I, LINE 1A:

TRAVEL FOR COMPANIONS THE UNIVERSITY PROVIDED REIMBURSEMENT OF $1,936 TO DR. MICHAEL H. MITTELMAN, PRESIDENT, FOR HIS SPOUSE TO TRAVEL FOR CERTAIN MEETINGS. THIS IS INCLUDED IN THE AMOUNT REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III).

PART I, LINE 4A:

DR. BARRY ECKERT, FORMER KEY EMPLOYEE, WAS PAID SEVERANCE IN THE AMOUNT OF $200,244, WHICH IS INCLUDED IN THE AMOUNT REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III).

PART I, LINE 7:

BONUS AND INCENTIVE COMPENSATION IS DISCRETIONARY AND AWARDED BASED ON INDIVIDUAL PROJECT ACTIVITY AS REVIEWED BY THE SUPERVISOR AND VP, FINANCE.