Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $100,240

• 1f · All other contributions, gifts and grants

  $4,887,059

• 1g · Noncash contributions included above

  $105,903

• 2a · Program service revenue: TUITION & FEES

  total $77,525,144 · related or exempt $77,525,144

• 3 · Investment income

  total $6,727,010 · unrelated business $571,818 · excluded $6,155,192

• 4 · Income from investment of tax-exempt bond proceeds

  total $30,537 · excluded $30,537

• 6a · Gross rents

  real property $9,484,587

• 6b · Less rental expenses

  real property $5,319,216

• 6c · Rental income or loss

  real property $4,165,371

• 6d · Net rental income or loss

  total $4,165,371 · excluded $4,165,371

• 7a · Gross sales of assets other than inventory

  securities $111,675,915

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

  securities $107,738,685

• 7c · Gain or loss

  securities $3,937,230

• 7d · Net gain or loss

  total $3,937,230 · excluded $3,937,230

• 11a · Other revenue: EVENT REVENUE

  total $158,183 · related or exempt $158,183

• 11b · Other revenue: PHARMACEUTICAL REBATES

  total $93,567 · excluded $93,567

• 11c · Other revenue: PROGRAM REGISTRATION

  total $24,650 · excluded $24,650

• 11d · All other revenue

  total $24,234 · related or exempt $24,234

• 11e · Other revenue, total

  $300,634

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $36,892,380 · program services $36,892,380

• 5 · Compensation of officers, directors and key employees

  total $3,389,895 · management and general $3,389,895

• 7 · Other salaries and wages

  total $24,536,882 · program services $19,974,345 · management and general $3,434,136 · fundraising $1,128,401

• 8 · Pension plan contributions

  total $2,342,156 · program services $1,885,736 · management and general $402,196 · fundraising $54,224

• 9 · Other employee benefits

  total $5,613,776 · program services $4,469,095 · management and general $1,008,690 · fundraising $135,991

• 10 · Payroll taxes

  total $2,450,185 · program services $1,972,713 · management and general $420,747 · fundraising $56,725

• 11b · Fees: legal

  total $328,686 · program services $92,420 · management and general $236,266

• 11c · Fees: accounting

  total $197,988 · management and general $197,988

• 11f · Fees: investment management

  total $426,052 · management and general $426,052

• 11g · Fees: other

  total $4,617,134 · program services $3,222,126 · management and general $1,150,852 · fundraising $244,156

• 12 · Advertising and promotion

  total $147,091 · program services $136,185 · management and general $4,362 · fundraising $6,544

• 13 · Office expenses

  total $409,306 · program services $188,814 · management and general $167,870 · fundraising $52,622

• 14 · Information technology

  total $533,029 · program services $280,422 · management and general $113,538 · fundraising $139,069

• 16 · Occupancy

  total $3,964,590 · program services $68,135 · management and general $3,896,455

• 17 · Travel

  total $345,926 · program services $239,053 · management and general $93,248 · fundraising $13,625

• 19 · Conferences, conventions and meetings

  total $1,258,707 · program services $975,433 · management and general $77,284 · fundraising $205,990

• 20 · Interest

  total $1,339,446 · program services $1,078,426 · management and general $230,010 · fundraising $31,010

• 22 · Depreciation, depletion and amortization

  total $3,474,811 · program services $2,278,529 · management and general $1,054,161 · fundraising $142,121

• 23 · Insurance

  total $490,337 · program services $41,137 · management and general $449,200

• 24a · Other expenses: UBIT TAXES

  total $4,121 · management and general $4,121

• 24b · Other expenses: LIBRARY ACQUISITIONS/AU

  total $868,376 · program services $868,325 · management and general $20 · fundraising $31

• 24c · Other expenses: STUDENT ORG. EXPENSES

  total $485,915 · program services $346,573 · management and general $99,955 · fundraising $39,387

• 24d · Other expenses: MISCELLANEOUS/BAD DEBT

  total $438,924 · program services $396,118 · management and general $36,323 · fundraising $6,483

• 24e · All other expenses

  total $495,418 · program services $200,325 · management and general $291,992 · fundraising $3,101

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,119 · end of year $2,807

• 2 · Savings and temporary cash investments

  beginning of year $10,602,101 · end of year $8,240,431

• 3 · Pledges and grants receivable

  beginning of year $1,497,008 · end of year $2,458,695

• 4 · Accounts receivable

  beginning of year $902,092 · end of year $640,895

• 9 · Prepaid expenses and deferred charges

  beginning of year $782,574 · end of year $936,665

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

  $170,242,394

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

  $92,460,339

• 10c · Land, buildings and equipment, net

  beginning of year $80,243,973 · end of year $77,782,055

• 11 · Investments: publicly traded securities

  beginning of year $182,748,551 · end of year $209,742,993

• 12 · Investments: other securities

  beginning of year $71,283,591 · end of year $78,041,268

• 15 · Other assets

  beginning of year $21,862,134 · end of year $8,937,449

• 17 · Accounts payable and accrued expenses

  beginning of year $12,887,277 · end of year $10,032,560

• 19 · Deferred revenue

  beginning of year $568,277 · end of year $718,498

• 20 · Tax-exempt bond liabilities

  beginning of year $36,673,885 · end of year $36,451,002

• 23 · Secured mortgages and notes payable

  beginning of year $6,000,000 · end of year $3,500,000

• 25 · Other liabilities

  beginning of year $12,627,938 · end of year $12,429,626

• 27 · Net assets without donor restrictions

  beginning of year $230,787,956 · end of year $254,326,607

• 28 · Net assets with donor restrictions

  beginning of year $70,379,810 · end of year $69,324,965

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE/ PERSONAL SERVICES: A. AS A CONDITION OF EMPLOYMENT, THE PRESIDENT/DEAN IS REQUIRED TO HAVE A HOME ON THE LAW SCHOOL'S CAMPUS WHICH IS FURNISHED, MAINTAINED AND CLEANED, AT THE LAW SCHOOL'S EXPENSE. THIS BENEFIT IS NONTAXABLE. B. CHRISTINA MULLIGAN, VICE DEAN AND PROFESSOR OF LAW, RECEIVED $9,116 IN HOUSING ALLOWANCE PAYMENTS. THIS AMOUNT HAS BEEN PROPERLY REPORTED ON THE FORM W-2 AND REPORTED ON FORM 990, PART VII, COLUMN D, AND ALSO IN SCHEDULE J, PART II, COLUMN B(III).