Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $377,235

• 1e · Government grants (contributions)

  $281,793

• 1f · All other contributions, gifts and grants

  $487,461

• 1g · Noncash contributions included above

  $47,295

• 3 · Investment income

  total $146,103 · excluded $146,103

• 7a · Gross sales of assets other than inventory

  securities $563,451

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

  securities $546,572

• 7c · Gain or loss

  securities $16,879

• 7d · Net gain or loss

  total $16,879 · excluded $16,879

• 8a · Fundraising events: gross income

  $0

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

  $377,235

• 8b · Fundraising events: direct expenses

  $125,626

• 8c · Net income from fundraising events

  total -$125,626 · excluded -$125,626

• 11a · Other revenue: OTHER REVENUE

  total $1,906 · excluded $1,906

• 11e · Other revenue, total

  $1,906

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $38,561 · program services $38,561

• 5 · Compensation of officers, directors and key employees

  total $148,899 · program services $102,279 · management and general $14,704 · fundraising $31,916

• 7 · Other salaries and wages

  total $1,138,664 · program services $867,854 · management and general $102,111 · fundraising $168,699

• 8 · Pension plan contributions

  total $60,803 · program services $41,766 · management and general $6,005 · fundraising $13,032

• 9 · Other employee benefits

  total $113,069 · program services $77,511 · management and general $11,215 · fundraising $24,343

• 10 · Payroll taxes

  total $101,141 · program services $69,474 · management and general $9,988 · fundraising $21,679

• 11c · Fees: accounting

  total $100,849 · program services $69,273 · management and general $9,959 · fundraising $21,617

• 11f · Fees: investment management

  total $29,135 · management and general $29,135

• 11g · Fees: other

  total $157,262 · program services $108,023 · management and general $15,530 · fundraising $33,709

• 13 · Office expenses

  total $26,069 · program services $17,907 · management and general $2,574 · fundraising $5,588

• 14 · Information technology

  total $11,606 · program services $7,972 · management and general $1,146 · fundraising $2,488

• 17 · Travel

  total $17,564 · program services $12,065 · management and general $1,734 · fundraising $3,765

• 19 · Conferences, conventions and meetings

  total $6,525 · program services $4,482 · management and general $644 · fundraising $1,399

• 22 · Depreciation, depletion and amortization

  total $53,572 · program services $53,572

• 23 · Insurance

  total $38,374 · program services $26,359 · management and general $3,790 · fundraising $8,225

• 24a · Other expenses: SUPPLIES-FOOD

  total $87,808 · program services $80,783 · management and general $7,025

• 24b · Other expenses: MISCELLANEOUS EXPENSE

  total $61,624 · program services $42,330 · management and general $6,086 · fundraising $13,208

• 24c · Other expenses: STUDENT AFFAIRS

  total $28,968 · program services $19,898 · management and general $2,861 · fundraising $6,209

• 24d · Other expenses: RENT

  total $13,481 · program services $9,260 · management and general $1,331 · fundraising $2,890

• 24e · All other expenses

  total $6,852 · program services $4,706 · management and general $677 · fundraising $1,469

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $378,566 · end of year $240,835

• 2 · Savings and temporary cash investments

  beginning of year $140,115 · end of year $23,709

• 3 · Pledges and grants receivable

  beginning of year $668,969 · end of year $331,130

• 4 · Accounts receivable

  beginning of year $214,213 · end of year $44,081

• 9 · Prepaid expenses and deferred charges

  beginning of year $6,496 · end of year $11,084

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

  $710,230

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

  $598,005

• 10c · Land, buildings and equipment, net

  beginning of year $165,797 · end of year $112,225

• 12 · Investments: other securities

  beginning of year $4,077,994 · end of year $3,829,555

• 17 · Accounts payable and accrued expenses

  beginning of year $173,310 · end of year $187,660

• 19 · Deferred revenue

  beginning of year $16,000 · end of year $960

• 25 · Other liabilities

  beginning of year $351,863 · end of year $107,801

• 27 · Net assets without donor restrictions

  beginning of year $1,120,802 · end of year $442,521

• 28 · Net assets with donor restrictions

  beginning of year $3,990,175 · end of year $3,853,677

The filer's explanations (Part III)

PART I, LINE 3

TWO MEMBERS OF THE RELATED ORGANIZATION'S BOARD ARE EXECUTIVE SEARCH PROFESSIONALS. EACH YEAR, THEY SHARE INDUSTRY RESEARCH-BASED COMPENSATION RECOMMENDATIONS WITH THE BOARD, AND THE EXECUTIVE COMMITTEE OF THE BOARD DISCUSSES AND VOTES TO APPROVE THE CEO'S SALARY.

PART I, LINE 4B

AS OF JULY 1, 2018, THE SCHOOL ESTABLISHED A NONQUALIFIED 457 (F) DEFERRED COMPENSATION PLAN FOR MEREDYTH M. COLE. THE TERMS OF THE PLAN PROVIDE THAT THE SCHOOL MAY MAKE A DISCRETIONARY CONTRIBUTION TO THE PLAN EACH YEAR. DURING THE FISCAL YEAR ENDING JUNE 30, 2025, THE SCHOOL MADE A CONTRIBUTION OF $75,000 TO THE PLAN. ADDITIONAL CONTRIBUTIONS CAN BE MADE TO THE PLAN IN FUTURE YEARS, WITH VESTING OF THOSE AMOUNTS CONTINGENT UPON HER CONTINUED EMPLOYMENT FOR THE REMAINDER OF HER EMPLOYMET AGREEMENT WHICH RUNS THROUGH JUNE 30, 2025. CASH DISTRIBUTIONS TO MS. COLE FROM THE PLAN ARE TO BE PAID 60 DAYS AFTER THE EARLIEST OF THE FOLLOWING EVENTS: VESTING, DEATH, DISABILITY, OR CERTAIN SEPARATIONS FROM SERVICE.