Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $433,214

• 1f · All other contributions, gifts and grants

  $1,625,364

• 1g · Noncash contributions included above

  $60,238

• 2a · Program service revenue: TUITION AND FEES

  total $37,267,149 · related or exempt $37,267,149

• 2b · Program service revenue: AUXILIARY SERVICES

  total $98,746 · related or exempt $98,746

• 3 · Investment income

  total $141,232 · excluded $141,232

• 7a · Gross sales of assets other than inventory

  securities $287,514

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

  securities $274,632

• 7c · Gain or loss

  securities $12,882

• 7d · Net gain or loss

  total $12,882 · excluded $12,882

• 8a · Fundraising events: gross income

  $48,750

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

  $433,214

• 8b · Fundraising events: direct expenses

  $184,221

• 8c · Net income from fundraising events

  total -$135,471 · excluded -$135,471

• 10a · Gross sales of inventory

  $18,928

• 10b · Cost of goods sold

  $45,418

• 10c · Net income from sales of inventory

  total -$26,490 · excluded -$26,490

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $95,998 · excluded $95,998

• 11e · Other revenue, total

  $95,998

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $19,023,277 · program services $19,023,277

• 5 · Compensation of officers, directors and key employees

  total $952,436 · program services $332,348 · management and general $434,748 · fundraising $185,340

• 7 · Other salaries and wages

  total $10,133,269 · program services $7,987,986 · management and general $1,864,663 · fundraising $280,620

• 8 · Pension plan contributions

  total $350,481 · program services $269,300 · management and general $70,556 · fundraising $10,625

• 9 · Other employee benefits

  total $1,158,901 · program services $1,015,217 · management and general $112,318 · fundraising $31,366

• 10 · Payroll taxes

  total $775,960 · program services $595,256 · management and general $149,647 · fundraising $31,057

• 11b · Fees: legal

  total $7,937 · management and general $7,937

• 11c · Fees: accounting

  total $39,384 · management and general $39,384

• 11f · Fees: investment management

  total $9,256 · management and general $9,256

• 11g · Fees: other

  total $759,844 · program services $274,815 · management and general $484,535 · fundraising $494

• 12 · Advertising and promotion

  total $423,192 · program services $236,393 · management and general $180,915 · fundraising $5,884

• 14 · Information technology

  total $676,003 · program services $606,497 · management and general $51,896 · fundraising $17,610

• 16 · Occupancy

  total $782,856 · program services $605,988 · management and general $176,868

• 17 · Travel

  total $271,346 · program services $255,339 · management and general $14,275 · fundraising $1,732

• 20 · Interest

  total $295,336 · program services $295,336

• 22 · Depreciation, depletion and amortization

  total $1,146,591 · program services $1,146,591

• 24a · Other expenses: SUPPLIES

  total $650,543 · program services $527,214 · management and general $123,009 · fundraising $320

• 24b · Other expenses: MISCELLANEOUS

  total $628,198 · program services $254,002 · management and general $370,902 · fundraising $3,294

• 24c · Other expenses: STUDENT SERVICES

  total $568,212 · program services $302,952 · management and general $265,260

• 24d · Other expenses: EQUIPMENT REPAIR AND MT

  total $409,469 · program services $103,627 · management and general $305,101 · fundraising $741

• 24e · All other expenses

  total $572,080 · program services $240,222 · management and general $321,077 · fundraising $10,781

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $31,850 · end of year $75,829

• 2 · Savings and temporary cash investments

  beginning of year $8,631,020 · end of year $7,811,056

• 3 · Pledges and grants receivable

  beginning of year $1,483,797 · end of year $1,067,210

• 4 · Accounts receivable

  beginning of year $440,049 · end of year $257,076

• 8 · Inventories for sale or use

  beginning of year $9,961 · end of year $6,405

• 9 · Prepaid expenses and deferred charges

  beginning of year $377,411 · end of year $493,987

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

  $28,771,316

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

  $13,678,919

• 10c · Land, buildings and equipment, net

  beginning of year $14,573,081 · end of year $15,092,397

• 11 · Investments: publicly traded securities

  beginning of year $2,370,786 · end of year $2,622,834

• 17 · Accounts payable and accrued expenses

  beginning of year $1,104,893 · end of year $1,254,416

• 19 · Deferred revenue

  beginning of year $966,549 · end of year $831,037

• 23 · Secured mortgages and notes payable

  beginning of year $6,461,684 · end of year $6,054,006

• 27 · Net assets without donor restrictions

  beginning of year $13,403,008 · end of year $13,558,234

• 28 · Net assets with donor restrictions

  beginning of year $5,981,821 · end of year $5,729,101

The filer's explanations (Part III)

PART I, LINE 3

THE BOARD OF TRUSTEES IS RESPONSIBLE FOR REVIEWING AND DETERMINING THE COMPENSATION OF THE PRESIDENT. COMPARISONS ARE MADE TO SIMILAR POSITIONS IN COMPARABLE ENTITIES THROUGH USE OF REGIONAL AND NATIONAL COMPENSTAION SURVEYS.