Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $279,112

• 1d · Related organizations

  $1,529,455

• 1e · Government grants (contributions)

  $221,037

• 1f · All other contributions, gifts and grants

  $2,210,173

• 1g · Noncash contributions included above

  $31,129

• 2a · Program service revenue: TUITION AND FEES

  total $24,789,579 · related or exempt $24,789,579

• 2b · Program service revenue: STUDENT SUPPORT

  total $5,065,562 · related or exempt $5,065,562

• 2c · Program service revenue: ACADEMIC SUPPORT

  total $885,983 · related or exempt $885,983

• 3 · Investment income

  total $922,914 · excluded $922,914

• 6a · Gross rents

  real property $300

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $300

• 6d · Net rental income or loss

  total $300 · excluded $300

• 7a · Gross sales of assets other than inventory

  securities $657,942

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

  securities $657,942 · other assets $5,928

• 7c · Gain or loss

  securities $0 · other assets -$5,928

• 7d · Net gain or loss

  total -$5,928 · excluded -$5,928

• 8a · Fundraising events: gross income

  $0

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

  $279,112

• 8b · Fundraising events: direct expenses

  $72,117

• 8c · Net income from fundraising events

  total -$72,117 · excluded -$72,117

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $12,687,120 · program services $12,687,120

• 5 · Compensation of officers, directors and key employees

  total $346,947 · management and general $346,947

• 7 · Other salaries and wages

  total $10,759,829 · program services $8,074,493 · management and general $2,517,352 · fundraising $167,984

• 9 · Other employee benefits

  total $1,372,562 · program services $1,082,985 · management and general $281,129 · fundraising $8,448

• 10 · Payroll taxes

  total $772,300 · program services $645,938 · management and general $112,754 · fundraising $13,608

• 11b · Fees: legal

  total $20,984 · management and general $20,984

• 11c · Fees: accounting

  total $152,657 · management and general $152,657

• 11g · Fees: other

  total $1,294,993 · program services $604,491 · management and general $683,216 · fundraising $7,286

• 12 · Advertising and promotion

  total $1,557 · management and general $1,557

• 13 · Office expenses

  total $142,326 · program services $8,182 · management and general $124,337 · fundraising $9,807

• 14 · Information technology

  total $2,476 · management and general $2,476

• 16 · Occupancy

  total $1,213,389 · program services $68,414 · management and general $1,144,975

• 17 · Travel

  total $676,722 · program services $669,112 · management and general $6,552 · fundraising $1,058

• 19 · Conferences, conventions and meetings

  total $1,488,994 · program services $526,344 · management and general $915,853 · fundraising $46,797

• 20 · Interest

  total $891,978 · program services $686,823 · management and general $205,155

• 22 · Depreciation, depletion and amortization

  total $1,644,297 · program services $1,266,109 · management and general $378,188

• 23 · Insurance

  total $937,393 · program services $477,567 · management and general $459,826

• 24a · Other expenses: FOOD EXPENSES

  total $959,633 · program services $959,633

• 24b · Other expenses: REPAIRS & MAINTENANCE

  total $292,503 · program services $10,271 · management and general $282,232

• 24e · All other expenses

  total $1,223,656 · program services $955,008 · management and general $228,718 · fundraising $39,930

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,216,282 · end of year $4,861,914

• 2 · Savings and temporary cash investments

  beginning of year $5,557,854 · end of year $124,859

• 3 · Pledges and grants receivable

  beginning of year $1,015 · end of year $721,240

• 4 · Accounts receivable

  beginning of year $661,663 · end of year $713,869

• 8 · Inventories for sale or use

  beginning of year $20,515 · end of year $20,515

• 9 · Prepaid expenses and deferred charges

  beginning of year $430,317 · end of year $707,490

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

  $70,519,717

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

  $35,286,636

• 10c · Land, buildings and equipment, net

  beginning of year $35,866,548 · end of year $35,233,081

• 11 · Investments: publicly traded securities

  beginning of year $16,514,102 · end of year $17,137,263

• 12 · Investments: other securities

  beginning of year $1,713,363 · end of year $1,722,859

• 13 · Investments: program-related

  beginning of year $584,540 · end of year $173,061

• 15 · Other assets

  beginning of year $329,924 · end of year $330,241

• 17 · Accounts payable and accrued expenses

  beginning of year $1,234,739 · end of year $1,328,000

• 19 · Deferred revenue

  beginning of year $371,498 · end of year $567,988

• 23 · Secured mortgages and notes payable

  beginning of year $13,623,171 · end of year $13,518,171

• 25 · Other liabilities

  beginning of year $937,645 · end of year $458,242

• 27 · Net assets without donor restrictions

  beginning of year $32,194,229 · end of year $31,468,968

• 28 · Net assets with donor restrictions

  beginning of year $14,534,841 · end of year $14,405,023

The filer's explanations (Part III)

PART I, LINE 1A

AS A CONDITION OF EMPLOYMENT, AND AS A CONVENIENCE TO THE UNIVERSITY, THE PRESIDENT IS PROVIDED A HOME ON UNIVERSITY GROUNDS. THE HOME IS PROVIDED AS A NONTAXABLE BENEFIT TO THE PRESIDENT.

PART I, LINE 7

MICHELLE STRICKLIN RECEIVED A DISCRETIONARY BONUS APPROVED BY THE PRESIDENT DURING THE YEAR.