Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $800,883

• 1e · Government grants (contributions)

  $540,226

• 1f · All other contributions, gifts and grants

  $7,194,388

• 1g · Noncash contributions included above

  $370,171

• 2a · Program service revenue: TUITION AND FEES

  total $25,962,761 · related or exempt $25,962,761

• 2b · Program service revenue: AUXILIARY SERVICES

  total $1,970,076 · related or exempt $1,970,076

• 3 · Investment income

  total $2,027,940 · unrelated business $95,141 · excluded $1,932,799

• 6a · Gross rents

  real property $645,528

• 6b · Less rental expenses

  real property $478,357

• 6c · Rental income or loss

  real property $167,171

• 6d · Net rental income or loss

  total $167,171 · excluded $167,171

• 7a · Gross sales of assets other than inventory

  securities $12,754,381 · other assets $850,404

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

  securities $10,508,986 · other assets $146,771

• 7c · Gain or loss

  securities $2,245,395 · other assets $703,633

• 7d · Net gain or loss

  total $2,949,028 · excluded $2,949,028

• 8a · Fundraising events: gross income

  $84,545

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

  $800,883

• 8b · Fundraising events: direct expenses

  $194,541

• 8c · Net income from fundraising events

  total -$109,996 · excluded -$109,996

• 10a · Gross sales of inventory

  $93,704

• 10b · Cost of goods sold

  $15,965

• 10c · Net income from sales of inventory

  total $77,739 · related or exempt $77,739

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $99,610 · excluded $99,610

• 11b · Other revenue: IRS REFUNDS

  total $6,610 · excluded $6,610

• 11c · Other revenue: CREDIT CARD REWARDS

  total $5,508 · excluded $5,508

• 11e · Other revenue, total

  $111,728

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $2,810,413 · program services $2,810,413

• 5 · Compensation of officers, directors and key employees

  total $2,247,649 · program services $1,479,582 · management and general $432,321 · fundraising $335,746

• 7 · Other salaries and wages

  total $13,639,118 · program services $11,415,947 · management and general $1,754,171 · fundraising $469,000

• 8 · Pension plan contributions

  total $956,143 · program services $773,384 · management and general $121,219 · fundraising $61,540

• 9 · Other employee benefits

  total $4,848,257 · program services $3,420,204 · management and general $1,225,030 · fundraising $203,023

• 10 · Payroll taxes

  total $1,212,175 · program services $996,058 · management and general $138,567 · fundraising $77,550

• 11a · Fees: management

  total $42,632 · management and general $42,632

• 11b · Fees: legal

  total $46,140 · management and general $46,140

• 11c · Fees: accounting

  total $94,550 · management and general $94,550

• 11f · Fees: investment management

  total $557,381 · management and general $557,381

• 11g · Fees: other

  total $2,818,616 · program services $2,713,122 · management and general $77,181 · fundraising $28,313

• 12 · Advertising and promotion

  total $233,898 · program services $3,543 · management and general $192,790 · fundraising $37,565

• 13 · Office expenses

  total $643,263 · program services $384,214 · management and general $198,254 · fundraising $60,795

• 14 · Information technology

  total $313,200 · program services $181,501 · management and general $82,475 · fundraising $49,224

• 16 · Occupancy

  total $562,924 · program services $507,405 · management and general $49,635 · fundraising $5,884

• 17 · Travel

  total $71,383 · program services $71,383

• 19 · Conferences, conventions and meetings

  total $47,613 · program services $47,613

• 20 · Interest

  total $2,729 · program services $2,729

• 22 · Depreciation, depletion and amortization

  total $2,553,993 · program services $2,351,394 · management and general $183,746 · fundraising $18,853

• 24a · Other expenses: UBTI EXPENSES

  total $457 · management and general $457

• 24b · Other expenses: INSTRUCTIONAL SUPPORT

  total $1,056,837 · program services $1,056,837

• 24c · Other expenses: CAFETERIA

  total $750,647 · program services $750,647

• 24d · Other expenses: REPAIRS AND MAINTENANCE

  total $515,234 · program services $432,303 · management and general $75,240 · fundraising $7,691

• 24e · All other expenses

  total $499,373 · program services $488,856 · management and general $7,481 · fundraising $3,036

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,036,785 · end of year $4,209,101

• 2 · Savings and temporary cash investments

  beginning of year $3,305,472 · end of year $4,110,431

• 3 · Pledges and grants receivable

  beginning of year $1,707,628 · end of year $3,898,171

• 4 · Accounts receivable

  beginning of year $5,039 · end of year $52,554

• 8 · Inventories for sale or use

  beginning of year $5,895 · end of year $5,895

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,769,908 · end of year $1,175,935

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

  $78,857,653

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

  $35,541,932

• 10c · Land, buildings and equipment, net

  beginning of year $44,149,403 · end of year $43,315,721

• 11 · Investments: publicly traded securities

  beginning of year $29,493,183 · end of year $33,634,771

• 12 · Investments: other securities

  beginning of year $27,234,045 · end of year $30,318,373

• 15 · Other assets

  beginning of year $46,781 · end of year $866,214

• 17 · Accounts payable and accrued expenses

  beginning of year $1,858,597 · end of year $1,542,063

• 19 · Deferred revenue

  beginning of year $4,398,243 · end of year $5,107,740

• 21 · Escrow or custodial account liability

  beginning of year $34,744 · end of year $26,325

• 23 · Secured mortgages and notes payable

  beginning of year $1,017,864 · end of year $73,112

• 25 · Other liabilities

  beginning of year $5,987,587 · end of year $7,247,158

• 27 · Net assets without donor restrictions

  beginning of year $58,881,286 · end of year $59,708,036

• 28 · Net assets with donor restrictions

  beginning of year $41,575,818 · end of year $47,882,732

The filer's explanations (Part III)

PART I, LINE 1A

THE HEAD OF SCHOOL RECEIVES HOUSING AS A CONDITION OF HIS EMPLOYMENT WHICH IS A NON-TAXABLE BENEFIT UNDER SECTION 119(B). ADDITIONALLY, THE SCHOOL PAYS FOR VARIOUS MEMBERSHIP CLUB DUES AND TUITION FOR HIS CHILDREN ON BEHALF OF THE HEAD OF SCHOOL, AND SUCH DUES ARE TAXED IN HIS W-2. THE TUITION PAYMENTS WERE GROSSED UP IN HIS W-2.

PART I, LINE 4B

AARON COOPER PARTICIPATED IN SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN DURING 2023. THE SCHOOL CONTRIBUTED $50,000 DURING CALENDAR YEAR 2023. HE ALSO RECEIVED A DISTRIBUTION IN THE AMOUNT OF $252,882 WHICH WAS INCLUDED IN HIS 2023 W-2.

PART I, LINE 7

THE ORGANIZATION PAID DISCRETIONARY BONUSES TO CERTAIN INDIVIDUALS LISTED IN PART II AS REPORTED IN COLUMN B(II) FOR THE APPLICABLE INDIVIDUALS.