Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $72,285

• 1e · Government grants (contributions)

  $468,245

• 1f · All other contributions, gifts and grants

  $9,550,216

• 1g · Noncash contributions included above

  $90,578

• 2a · Program service revenue: STUDENT TUITION AND FEES

  total $47,848,154 · related or exempt $47,848,154

• 2b · Program service revenue: AUXILARY SERVICES

  total $7,280,765 · related or exempt $6,989,512 · unrelated business $291,253

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $1,171,666 · unrelated business $40,799 · excluded $1,130,867

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $30,848,273

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

  securities $22,785,353 · other assets $36,229

• 7c · Gain or loss

  securities $8,062,920 · other assets -$36,229

• 7d · Net gain or loss

  total $8,026,691 · excluded $8,026,691

• 8a · Fundraising events: gross income

  $12,527

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

  $72,285

• 8b · Fundraising events: direct expenses

  $34,431

• 8c · Net income from fundraising events

  total -$21,904 · excluded -$21,904

• 10a · Gross sales of inventory

  $39,097

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $39,097 · excluded $39,097

• 11a · Other revenue: OTHER REVENUE

  total $115,194 · related or exempt $115,194

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $115,194

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $17,464,574 · program services $17,464,574

• 5 · Compensation of officers, directors and key employees

  total $474,187 · program services $403,059 · management and general $61,644 · fundraising $9,484

• 7 · Other salaries and wages

  total $15,461,708 · program services $13,142,452 · management and general $2,010,022 · fundraising $309,234

• 8 · Pension plan contributions

  total $599,816 · program services $509,844 · management and general $77,976 · fundraising $11,996

• 9 · Other employee benefits

  total $2,072,467 · program services $1,761,597 · management and general $269,421 · fundraising $41,449

• 10 · Payroll taxes

  total $1,163,248 · program services $988,761 · management and general $151,222 · fundraising $23,265

• 11b · Fees: legal

  total $108,679 · management and general $108,679

• 11c · Fees: accounting

  total $115,370 · management and general $115,370

• 11f · Fees: investment management

  total $169,673 · management and general $169,673

• 11g · Fees: other

  total $921,114 · program services $782,947 · management and general $119,745 · fundraising $18,422

• 12 · Advertising and promotion

  total $4,839,151 · program services $4,113,278 · management and general $629,090 · fundraising $96,783

• 13 · Office expenses

  total $2,619,752 · program services $2,226,789 · management and general $340,568 · fundraising $52,395

• 16 · Occupancy

  total $2,828,446 · program services $2,404,179 · management and general $367,698 · fundraising $56,569

• 17 · Travel

  total $2,048,160 · program services $1,740,936 · management and general $266,261 · fundraising $40,963

• 19 · Conferences, conventions and meetings

  total $344,149 · program services $292,527 · management and general $44,739 · fundraising $6,883

• 20 · Interest

  total $547,475 · program services $547,475

• 22 · Depreciation, depletion and amortization

  total $2,475,304 · program services $2,475,304

• 23 · Insurance

  total $617,417 · program services $524,804 · management and general $92,613

• 24a · Other expenses: DINING SERVICES

  total $2,386,116 · program services $2,386,116

• 24b · Other expenses: EQUIPMENT

  total $1,384,898 · program services $1,384,898

• 24c · Other expenses: BAD DEBT

  total -$12,862 · program services -$12,862

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,500 · end of year $1,000

• 2 · Savings and temporary cash investments

  beginning of year $25,601,476 · end of year $18,314,090

• 3 · Pledges and grants receivable

  beginning of year $7,455,031 · end of year $8,477,997

• 4 · Accounts receivable

  beginning of year $3,333,262 · end of year $5,696,932

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $168,570 · end of year $95,417

• 8 · Inventories for sale or use

  beginning of year $18,196 · end of year $21,176

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,152,502 · end of year $1,087,768

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

  $119,652,924

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

  $60,201,099

• 10c · Land, buildings and equipment, net

  beginning of year $54,433,445 · end of year $59,451,825

• 11 · Investments: publicly traded securities

  beginning of year $29,930,244 · end of year $37,075,533

• 12 · Investments: other securities

  beginning of year $204,808 · end of year $1,773,958

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $1,842,656 · end of year $1,614,358

• 17 · Accounts payable and accrued expenses

  beginning of year $2,229,392 · end of year $4,041,331

• 19 · Deferred revenue

  beginning of year $2,427,281 · end of year $1,788,877

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $17,644,513 · end of year $16,838,928

• 25 · Other liabilities

  beginning of year $2,776,398 · end of year $2,424,610

• 27 · Net assets without donor restrictions

  beginning of year $61,767,688 · end of year $64,284,333

• 28 · Net assets with donor restrictions

  beginning of year $37,297,418 · end of year $44,231,975

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions

THE SPOUSE OF THE VP OF ADVANCEMENT/EXECUTIVE VP OCCASIONALLY TRAVELS WITH THE ADVANCEMENT TEAM TO CONDUCT AND SUPPORT DONOR/BUSINESS EVENTS AND AS SUCH, RELATED TRAVEL EXPENSES ARE TREATED AS NONTAXABLE ITEMS.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

THE PRESIDENT RESIDES IN A UNIVERSITY OWNED HOUSE. THE HOUSING IS NONTAXABLE DUE TO THE FACT THAT IT IS REQUIRED AS A CONDITION OF EMPLOYMENT, THE HOME IS LOCATED ON CAMPUS, AND THE HOME IS USED FOR BUSINESS EVENTS.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

THE PRESIDENT AND EXECUTIVE VICE PRESIDENT ARE PROVIDED A COUNTRY CLUB MEMBERSHIP BY THE UNIVERSITY. EMPLOYEES ARE TAXED FOR PERSONAL USE OF THE DUES.

Schedule J, Part I, Line 1a Personal services

THE PRESIDENT RESIDES IN A UNIVERSITY OWNED HOUSE AND WEEKLY CLEANING SERVICES ARE PROVIDED FOR THE HOME. SERVICES ARE NONTAXABLE DUE TO THE FACT THE HOME IS LOCATED ON CAMPUS AND IS USED FOR BUSINESS EVENTS.