Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $834,288

• 1f · All other contributions, gifts and grants

  $929,783

• 1g · Noncash contributions included above

  $43,702

• 2a · Program service revenue: TUITION & FEES

  total $62,217,071 · related or exempt $62,217,071

• 2b · Program service revenue: RESIDENCE HOUSING

  total $10,616,958 · related or exempt $10,616,958

• 2c · Program service revenue: FOOD SERVICES

  total $932,144 · related or exempt $932,144

• 2d · Program service revenue: ACADEMIC PROGRAMS

  total $111,573 · related or exempt $111,573

• 3 · Investment income

  total $1,491,063 · excluded $1,491,063

• 6a · Gross rents

  real property $3,448,603

• 6b · Less rental expenses

  real property $529,139

• 6c · Rental income or loss

  real property $2,919,464

• 6d · Net rental income or loss

  total $2,919,464 · excluded $2,919,464

• 7a · Gross sales of assets other than inventory

  securities $42,358,057

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

  securities $41,855,655

• 7c · Gain or loss

  securities $502,402

• 7d · Net gain or loss

  total $502,402 · excluded $502,402

• 10a · Gross sales of inventory

  $61,960

• 10b · Cost of goods sold

  $30,547

• 10c · Net income from sales of inventory

  total $31,413 · excluded $31,413

• 11a · Other revenue: MISC. OFFSITE FOOD SERVICES

  total $45,511 · excluded $45,511

• 11e · Other revenue, total

  $45,511

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $30,509,723 · program services $30,509,723

• 5 · Compensation of officers, directors and key employees

  total $3,206,457 · program services $1,978,774 · management and general $869,529 · fundraising $358,154

• 7 · Other salaries and wages

  total $22,100,834 · program services $18,517,879 · management and general $2,974,135 · fundraising $608,820

• 8 · Pension plan contributions

  total $1,795,818 · program services $1,324,744 · management and general $372,232 · fundraising $98,842

• 9 · Other employee benefits

  total $3,973,067 · program services $3,098,358 · management and general $699,533 · fundraising $175,176

• 10 · Payroll taxes

  total $1,872,167 · program services $1,425,961 · management and general $372,232 · fundraising $73,974

• 11a · Fees: management

  total $6,252,182 · program services $2,567,098 · management and general $3,671,544 · fundraising $13,540

• 11b · Fees: legal

  total $366,643 · management and general $366,643

• 11c · Fees: accounting

  total $231,618 · management and general $231,618

• 11f · Fees: investment management

  total $179,428 · management and general $179,428

• 12 · Advertising and promotion

  total $1,211,450 · program services $1,211,450

• 13 · Office expenses

  total $1,258,708 · program services $1,057,481 · management and general $148,642 · fundraising $52,585

• 14 · Information technology

  total $1,637,962 · program services $1,090,375 · management and general $489,660 · fundraising $57,927

• 16 · Occupancy

  total $2,298,601 · program services $2,213,261 · management and general $83,470 · fundraising $1,870

• 17 · Travel

  total $313,554 · program services $282,870 · management and general $24,392 · fundraising $6,292

• 19 · Conferences, conventions and meetings

  total $448,794 · program services $392,234 · management and general $24,376 · fundraising $32,184

• 20 · Interest

  total $2,509,092 · program services $2,503,394 · management and general $5,698

• 22 · Depreciation, depletion and amortization

  total $4,666,303 · program services $4,666,303

• 23 · Insurance

  total $1,555,427 · program services $1,555,427

• 24a · Other expenses: HOUSING RENTAL

  total $7,505,939 · program services $7,407,489 · management and general $98,450

• 24b · Other expenses: BAD DEBT RESERVE

  total $1,613,329 · program services $1,613,329

• 24c · Other expenses: FOOD SERVICE OPERATIONS

  total $1,108,185 · program services $1,108,185

• 24d · Other expenses: DUES & MEMBERSHIPS

  total $120,246 · program services $74,579 · management and general $38,548 · fundraising $7,119

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,123,670 · end of year $1,696,686

• 2 · Savings and temporary cash investments

  beginning of year $999,563

• 3 · Pledges and grants receivable

  beginning of year $5,169,734 · end of year $2,418,526

• 4 · Accounts receivable

  beginning of year $2,529,300 · end of year $1,240,123

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

  $158,271,337

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

  $87,794,093

• 10c · Land, buildings and equipment, net

  beginning of year $73,180,688 · end of year $70,477,244

• 11 · Investments: publicly traded securities

  beginning of year $48,264,901 · end of year $49,941,361

• 15 · Other assets

  beginning of year $10,713,212 · end of year $6,416,170

• 17 · Accounts payable and accrued expenses

  beginning of year $5,770,132 · end of year $5,142,416

• 19 · Deferred revenue

  beginning of year $2,314,406 · end of year $927,709

• 24 · Unsecured notes and loans payable

  end of year $6,650,000

• 25 · Other liabilities

  beginning of year $50,985,816 · end of year $45,829,963

• 27 · Net assets without donor restrictions

  beginning of year $33,410,598 · end of year $34,046,354

• 28 · Net assets with donor restrictions

  beginning of year $51,500,116 · end of year $39,593,668

The filer's explanations (Part III)

PART I, LINE 1A

AS A CONDITION OF EMPLOYMENT, HOUSING THAT IS LEASED TO THE COLLEGE WAS PROVIDED TO THE FORMER PRESIDENT, DURING HER PRESIDENCY, FOR THE CONVENIENCE OF THE COLLEGE. THE HOUSING IS IN CLOSE PROXIMITY TO THE CAMPUS AND REQUIRED AS A CONDITION OF EMPLOYMENT TO ENABLE THE PRESIDENT TO BE AVAILABLE 24/7 TO RESPOND TO EMERGENT SITUATIONS, SHOULD THEY ARISE, AS WELL AS TO ALLOW THE PRESIDENT TO CONDUCT BUSINESS AFTER HOURS TO EFFECTUATE THE DUTIES OF HER ROLE. THIS BENEFIT WAS CONSIDERED NONTAXABLE, AND THE VALUE OF THE HOUSING BENEFIT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (D).

PART I, LINE 4B

IN CALENDAR YEAR 2023, DR. KERRY WALK WAS PAID OUT OF HER 457(F) PLAN. THIS AMOUNT IS INCLUDED ON SCHEDULE J, PART II, COLUMN B(II). THIS AMOUNT IS ALSO INCLUDED IN COLUMN F AS IT WAS PREVIOUSLY DEFERRED.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• 231-235 EAST 55TH STREET CONDOMINIUM

  C · STUDENT HOUSING · NY · 70.7% owned · share of income $1,489,274 · share of assets $1,789,976 · controlled entity

  Directly controlled by MARYMOUNT