Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $48,170,362

• 1g · Noncash contributions included above

  $1,283,912

• 2a · Program service revenue: ACADEMIC TUITION/FEES

  total $45,195,989 · related or exempt $45,195,989

• 2b · Program service revenue: ROOM AND BOARD FEES

  total $21,874,186 · related or exempt $21,874,186

• 2c · Program service revenue: BOOKSTORE

  total $1,221,393 · related or exempt $1,221,393

• 3 · Investment income

  total $1,036,609 · related or exempt $551,269 · unrelated business $485,340

• 7a · Gross sales of assets other than inventory

  securities $80,621,981

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

  securities $76,583,237

• 7c · Gain or loss

  securities $4,038,744

• 7d · Net gain or loss

  total $4,038,744 · related or exempt $4,038,744

• 11a · Other revenue: MISC INCOME

  total $526,177 · related or exempt $503,519 · unrelated business $22,658

• 11b · Other revenue: CONFERENCES

  total $107,222 · unrelated business $107,222

• 11e · Other revenue, total

  $633,399

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $21,666 · program services $21,666

• 2 · Grants to domestic individuals

  total $9,276,969 · program services $9,276,969

• 3 · Grants to foreign organizations and individuals

  total $54,770 · program services $54,770

• 5 · Compensation of officers, directors and key employees

  total $1,519,171 · management and general $1,351,836 · fundraising $167,335

• 7 · Other salaries and wages

  total $30,555,328 · program services $24,799,084 · management and general $4,565,151 · fundraising $1,191,093

• 8 · Pension plan contributions

  total $2,017,933 · program services $1,536,910 · management and general $390,782 · fundraising $90,241

• 9 · Other employee benefits

  total $3,458,741 · program services $2,634,919 · management and general $669,107 · fundraising $154,715

• 10 · Payroll taxes

  total $2,171,927 · program services $1,653,940 · management and general $421,271 · fundraising $96,716

• 11b · Fees: legal

  total $19,202 · management and general $19,202

• 11c · Fees: accounting

  total $139,187 · management and general $139,187

• 11e · Fees: professional fundraising services

  total $71,681 · fundraising $71,681

• 11g · Fees: other

  total $1,201,514 · program services $718,089 · management and general $400,838 · fundraising $82,587

• 12 · Advertising and promotion

  total $980,135 · program services $38,692 · management and general $682,544 · fundraising $258,899

• 13 · Office expenses

  total $2,008,384 · program services $975,219 · management and general $962,719 · fundraising $70,446

• 14 · Information technology

  total $2,288,499 · program services $1,573,440 · management and general $611,293 · fundraising $103,766

• 16 · Occupancy

  total $5,239,307 · program services $4,901,582 · management and general $313,202 · fundraising $24,523

• 17 · Travel

  total $1,208,366 · program services $870,976 · management and general $214,296 · fundraising $123,094

• 20 · Interest

  total $365,975 · management and general $365,975

• 22 · Depreciation, depletion and amortization

  total $10,757,106 · program services $9,309,613 · management and general $1,387,092 · fundraising $60,401

• 23 · Insurance

  total $36,379 · program services $36,379

• 24a · Other expenses: CONTRACT BOARD FEES

  total $7,098,649 · program services $7,098,649

• 24b · Other expenses: OTHER EXPENSES

  total $2,993,255 · program services $1,782,836 · management and general $1,166,848 · fundraising $43,571

• 24c · Other expenses: EQUIPMENT, MAINTENANCE,

  total $2,241,022 · program services $1,845,205 · management and general $358,804 · fundraising $37,013

• 24d · Other expenses: BOOKSTORE MERCHANDISE

  total $878,819 · program services $878,819

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,833,463 · end of year $6,064,848

• 3 · Pledges and grants receivable

  beginning of year $6,776,429 · end of year $43,088,755

• 4 · Accounts receivable

  beginning of year $440,895 · end of year $158,946

• 8 · Inventories for sale or use

  beginning of year $266,842 · end of year $348,716

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,999,749 · end of year $2,058,753

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

  $338,301,664

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

  $185,774,255

• 10c · Land, buildings and equipment, net

  beginning of year $153,897,782 · end of year $152,527,409

• 11 · Investments: publicly traded securities

  beginning of year $99,113,942 · end of year $106,491,105

• 12 · Investments: other securities

  beginning of year $89,979,733 · end of year $88,433,813

• 15 · Other assets

  beginning of year $5,078,271 · end of year $6,822,937

• 17 · Accounts payable and accrued expenses

  beginning of year $6,150,241 · end of year $4,574,384

• 19 · Deferred revenue

  beginning of year $2,049,663 · end of year $2,531,351

• 23 · Secured mortgages and notes payable

  beginning of year $3,103,900 · end of year $2,069,267

• 24 · Unsecured notes and loans payable

  beginning of year $1,109,779

• 25 · Other liabilities

  beginning of year $11,912,963 · end of year $14,402,918

• 27 · Net assets without donor restrictions

  beginning of year $147,977,804 · end of year $151,635,044

• 28 · Net assets with donor restrictions

  beginning of year $190,082,756 · end of year $230,782,318

The filer's explanations (Part III)

PART I, LINE 6

THE PRESIDENTS' BONUS IS DETERMINED EACH YEAR BY CRITERIA SET FORTH BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES INCLUDING SUBJECTS SUCH AS: FUNDRAISING, FINANCIAL PERFORMANCE RELATED TO THE COLLEGE'S OPERATING BUDGET, STRATEGIC PLANNING OUTCOMES, AND ENROLLMENT TARGETS. THIS GENERAL BONUS AWARD IS A PERCENTAGE OF THE BASE COMPENSATION UP TO A MAXIMUM OF 10%. THE VICE PRESIDENT FOR BUSINESS AND FINANCE MAY RECEIVE A BONUS EACH YEAR WITH CRITERIA SET FORTH BY THE PRESIDENT INCLUDING SUBJECTS SUCH AS: STRATEGIC PLANNING OUTCOMES, RESOURCE MANAGEMENT, PROCESS IMPROVEMENT EFFICIENCIES, INCREASED REVENUE, WORKING CAPITAL MANAGEMENT, AND BUDGET MANAGEMENT. THIS GENERAL BONUS AWARD IS A PERCENTAGE OF THE BASE COMPENSATION UP TO A MAXIMUM OF 15%.