Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,100,865

• 1e · Government grants (contributions)

  $4,091,745

• 1f · All other contributions, gifts and grants

  $8,721,608

• 1g · Noncash contributions included above

  $1,956,726

• 2a · Program service revenue: TUITION AND FEES

  total $196,112,780 · related or exempt $196,112,780

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $36,826,609 · related or exempt $36,826,609

• 2f · All other program service revenue

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

• 3 · Investment income

  total $4,999,250 · unrelated business $19,794 · excluded $4,979,456

• 6a · Gross rents

  real property $420,096

• 6b · Less rental expenses

  real property $420,940

• 6c · Rental income or loss

  real property -$844 · personal property $0

• 6d · Net rental income or loss

  total -$844 · excluded -$844

• 7a · Gross sales of assets other than inventory

  securities $148,911,794

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

  securities $146,747,339

• 7c · Gain or loss

  securities $2,164,455 · other assets $0

• 7d · Net gain or loss

  total $2,164,455 · excluded $2,164,455

• 8a · Fundraising events: gross income

  $220,659

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

  $1,100,865

• 8b · Fundraising events: direct expenses

  $516,958

• 8c · Net income from fundraising events

  total -$296,299 · excluded -$296,299

• 11a · Other revenue: EDUCATIONAL SUPPORT SERVICES

  total $2,133,522 · related or exempt $2,133,522

• 11b · Other revenue: EARLY LEARNING CENTER

  total $1,589,754 · unrelated business $1,289,361 · excluded $300,393

• 11c · Other revenue: CONFERENCES AND SUMMER CAMPS

  total $106,157 · unrelated business $106,157

• 11d · All other revenue

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

• 11e · Other revenue, total

  $3,829,433

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $150,000 · program services $150,000

• 2 · Grants to domestic individuals

  total $96,661,761 · program services $96,661,761

• 5 · Compensation of officers, directors and key employees

  total $4,132,095 · program services $2,012,070 · management and general $1,829,912 · fundraising $290,113

• 7 · Other salaries and wages

  total $68,045,586 · program services $61,469,361 · management and general $5,497,202 · fundraising $1,079,023

• 8 · Pension plan contributions

  total $4,770,137 · program services $4,131,496 · management and general $553,973 · fundraising $84,668

• 9 · Other employee benefits

  total $21,080,435 · program services $18,563,608 · management and general $2,237,212 · fundraising $279,615

• 10 · Payroll taxes

  total $4,655,781 · program services $3,979,650 · management and general $584,733 · fundraising $91,398

• 11b · Fees: legal

  total $272,425 · management and general $272,425

• 11c · Fees: accounting

  total $347,169 · management and general $347,169

• 11d · Fees: lobbying

  total $72,000 · fundraising $72,000

• 11e · Fees: professional fundraising services

  total $13,985 · fundraising $13,985

• 11f · Fees: investment management

  total $1,661,483 · management and general $1,661,483

• 11g · Fees: other

  total $2,874,991 · program services $1,539,802 · management and general $853,534 · fundraising $481,655

• 12 · Advertising and promotion

  total $953,740 · program services $177,247 · management and general $772,992 · fundraising $3,501

• 13 · Office expenses

  total $2,578,104 · program services $2,101,035 · management and general $403,708 · fundraising $73,361

• 14 · Information technology

  total $2,037,279 · program services $1,144,105 · management and general $857,261 · fundraising $35,913

• 16 · Occupancy

  total $4,857,730 · program services $4,632,378 · management and general $216,852 · fundraising $8,500

• 17 · Travel

  total $1,331,008 · program services $1,236,098 · management and general $51,837 · fundraising $43,073

• 19 · Conferences, conventions and meetings

  total $1,362,416 · program services $1,130,131 · management and general $202,446 · fundraising $29,839

• 20 · Interest

  total $5,631,889 · program services $5,602,626 · management and general $29,263

• 22 · Depreciation, depletion and amortization

  total $12,754,528 · program services $11,289,324 · management and general $1,413,912 · fundraising $51,292

• 23 · Insurance

  total $1,569,809 · program services $1,123,964 · management and general $435,257 · fundraising $10,588

• 24a · Other expenses: DIRECT FOOD COSTS

  total $8,623,470 · program services $8,623,470

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $4,528,034 · program services $2,428,936 · management and general $2,074,561 · fundraising $24,537

• 24c · Other expenses: BOOKS AND PUBLICATIONS

  total $2,426,352 · program services $2,349,306 · management and general $24,292 · fundraising $52,754

• 24d · Other expenses: OTHER FOOD SERIVCE EXP.

  total $2,560,490 · program services $1,648,103 · management and general $307,837 · fundraising $604,550

• 24e · All other expenses

  total $3,812,085 · program services $2,001,802 · management and general $1,662,831 · fundraising $147,452

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $14,652,746 · end of year $18,334,285

• 3 · Pledges and grants receivable

  beginning of year $6,927,738 · end of year $5,343,404

• 4 · Accounts receivable

  beginning of year $7,583,662 · end of year $7,260,025

• 5 · Loans and receivables from officers and key people

  beginning of year $52,472 · 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 $1,202,593 · end of year $901,734

• 9 · Prepaid expenses and deferred charges

  beginning of year $5,010,764 · end of year $5,471,393

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

  $512,829,826

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

  $252,465,287

• 10c · Land, buildings and equipment, net

  beginning of year $265,125,490 · end of year $260,364,539

• 11 · Investments: publicly traded securities

  beginning of year $195,870,618 · end of year $167,952,736

• 12 · Investments: other securities

  beginning of year $140,660,222 · end of year $156,106,132

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $3,820,537 · end of year $3,428,033

• 17 · Accounts payable and accrued expenses

  beginning of year $28,342,037 · end of year $24,924,401

• 18 · Grants payable

  beginning of year $597,541 · end of year $1,228,646

• 19 · Deferred revenue

  beginning of year $9,439,417 · end of year $8,748,744

• 20 · Tax-exempt bond liabilities

  beginning of year $134,245,000 · end of year $129,465,000

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $13,766,062 · end of year $12,676,436

• 27 · Net assets without donor restrictions

  beginning of year $265,838,128 · end of year $258,737,910

• 28 · Net assets with donor restrictions

  beginning of year $188,678,657 · end of year $189,381,144

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

THE UNIVERSITY'S TRAVEL AND EXPENSE POLICY ALLOWS FOR FIRST- AND BUSINESS-CLASS AIR TRAVEL IN CERTAIN CIRCUMSTANCES FOR UNIVERSITY OFFICERS.

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

THE UNIVERSITY PROVIDES ON-CAMPUS HOUSING FOR THE PRESIDENT. THE ESTIMATED VALUE OF THIS HOUSING IS $19,888. THE HOUSING VALUES ARE BASED UPON RESIDENCE HALL RATES CHARGED TO UNIVERSITY STUDENTS. THE HOUSING VALUE IS INCLUDED IN THE PRESIDENT'S COMPENSATION DISCLOSED IN PART VII OF THE FORM 990.

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

THE UNIVERSITY PAYS FOR INITIATION FEES AND MONTHLY DUES FOR A MEMBERSHIP FOR THE PRESIDENT TO THE SCRANTON COUNTRY CLUB. THE UNIVERSITY ALSO PAYS FOR THE ANNUAL MEMBERSHIP FEES FOR THE VICE PRESIDENT FOR UNIVERSITY ADVANCEMENT IN HIS/HER ROLE AT THE FOLLOWING SOCIAL CLUBS: HAMILTON FARM GOLF CLUB OF GLADSTONE, NJ AND GLENMAURA NATIONAL GOLF CLUB OF MOOSIC, PA. THESE MEMBERSHIPS ARE USED BY SENIOR ADMINISTRATORS TO HOST MEETINGS WITH BUSINESS PARTNERS OF THE UNIVERSITY, BOARD OF TRUSTEES MEMBERS, POTENTIAL DONORS, AND FACULTY AND STAFF. MEMBERSHIP IN THESE CLUBS ALLOWS FOR RECIPROCAL USE OF OTHER RELATED VENUES WITHIN THE UNITED STATES. THESE RECIPROCAL AGREEMENTS ALLOW SENIOR ADMINISTRATION TO HOST QUALITY BUSINESS AND FUNDRAISING EVENTS OUTSIDE THE COMMONWEALTH OF PENNSYLVANIA.

Schedule J, Part I, Line 3

THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS APPROPRIATE ANALYSES AND STUDIES PREPARED BY THE HUMAN RESOURCES OFFICE OR EXTERNAL SOURCES TO AID IN EVALUATING COMPENSATION AND BENEFITS AND STRATEGIES TO ATTRACT AND RETAIN QUALIFIED PERSONNEL FOR SENIOR EXECUTIVE ADMINISTRATIVE POSITIONS. THE COMMITTEE ANNUALLY REVIEWS AND APPROVES COMPENSATION AND BENEFITS FOR SENIOR ADMINISTRATORS AND OFFICERS OF THE UNIVERSITY. THIS REVIEW INCLUDES COMPARABLE MARKET DATA FOR POSITIONS AT OTHER HIGHER EDUCATION INSTITUTIONS. THE COMMITTEE REPORTS TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES THE TOTAL COMPENSATION PAID TO THE UNIVERSITY'S PRESIDENT AND VICE PRESIDENTS. THE COMMITTEE REVIEWS THE RECOMMENDATIONS OF, AND ADVISES, THE PRESIDENT AS TO THE INDIVIDUAL EMPLOYMENT CONTRACTS THAT ARE ABOVE AND BEYOND THE SCOPE OF THE UNIVERSITY'S BASE COMPENSATION AND BENEFITS STRUCTURE.