Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,632,148

• 1f · All other contributions, gifts and grants

  $450,515

• 1g · Noncash contributions included above

  $450,515

• 2a · Program service revenue: TUITION REVENUE

  total $33,831,660 · related or exempt $33,831,660

• 3 · Investment income

  total $597,896 · excluded $597,896

• 6a · Gross rents

  real property $1,724,094

• 6b · Less rental expenses

  real property $634,764

• 6c · Rental income or loss

  real property $1,089,330

• 6d · Net rental income or loss

  total $1,089,330 · excluded $1,089,330

• 7a · Gross sales of assets other than inventory

  securities $2,280,626

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

  securities $3,112,029

• 7c · Gain or loss

  securities -$831,403

• 7d · Net gain or loss

  total -$831,403 · excluded -$831,403

• 11a · Other revenue: OTHER SOURCES

  total $4,298,399 · related or exempt $4,298,399

• 11e · Other revenue, total

  $4,298,399

Functional expenses

Part IX, the statement of functional expenses.

• 7 · Other salaries and wages

  total $22,093,367 · program services $14,974,376 · management and general $7,118,991

• 9 · Other employee benefits

  total $3,260,631 · program services $2,039,814 · management and general $1,220,817

• 11g · Fees: other

  total $4,613,587 · program services $920,414 · management and general $3,693,173

• 20 · Interest

  total $385,530 · management and general $385,530

• 22 · Depreciation, depletion and amortization

  total $1,164,761 · program services $162,227 · management and general $1,002,534

• 23 · Insurance

  total $995,182 · management and general $995,182

• 24a · Other expenses: OTHER EXPENSE

  total $6,158,953 · program services $2,494,380 · management and general $3,664,573

• 24b · Other expenses: REPAIR & MAINTENANCE

  total $2,240,023 · program services $1,087,448 · management and general $1,152,575

• 24c · Other expenses: UTILITES

  total $1,073,753 · program services $147,451 · management and general $926,302

• 24d · Other expenses: RENT

  total $432,198 · program services $204,073 · management and general $228,125

• 24e · All other expenses

  total $27,813 · program services $27,813

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $553,611 · end of year $1,159,051

• 2 · Savings and temporary cash investments

  beginning of year $1,155,844 · end of year $1,668,460

• 4 · Accounts receivable

  beginning of year $3,975,913 · end of year $2,374,982

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,022,318 · end of year $1,622,957

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

  $43,685,297

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

  $16,863,761

• 10c · Land, buildings and equipment, net

  beginning of year $26,396,664 · end of year $26,821,536

• 11 · Investments: publicly traded securities

  beginning of year $23,566,071 · end of year $25,727,773

• 15 · Other assets

  beginning of year $828,829 · end of year $1,087,709

• 17 · Accounts payable and accrued expenses

  beginning of year $4,677,144 · end of year $4,753,052

• 19 · Deferred revenue

  beginning of year $2,135,140 · end of year $2,422,319

• 23 · Secured mortgages and notes payable

  beginning of year $8,081,218 · end of year $7,482,131

• 25 · Other liabilities

  beginning of year $792,649 · end of year $945,389

• 27 · Net assets without donor restrictions

  beginning of year $36,407,374 · end of year $38,123,259

• 28 · Net assets with donor restrictions

  beginning of year $6,405,725 · end of year $6,736,318

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 7

A PERFORMANCE BONUS TO PRESIDENT BASED ON THE ANNUAL PERFORMANCE AND ACHIEVEMENTS.