Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $3,488,429

• 1g · Noncash contributions included above

  $159,432

• 3 · Investment income

  total $4,099,478 · excluded $4,099,478

• 4 · Income from investment of tax-exempt bond proceeds

  total $0

• 5 · Royalties

  total $0

• 6d · Net rental income or loss

  total $0

• 7a · Gross sales of assets other than inventory

  securities $7,443,274

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

  securities $7,022,391

• 7c · Gain or loss

  securities $420,883

• 7d · Net gain or loss

  total $420,883 · excluded $420,883

• 8c · Net income from fundraising events

  total $0

• 9c · Net income from gaming

  total $0

• 10c · Net income from sales of inventory

  total $0

• 11a · Other revenue: Change in value of CRT

  total $205,785 · excluded $205,785

• 11b · Other revenue: PV Adj to Annuities

  total $30,583 · excluded $30,583

• 11c · Other revenue: Transfers from ONU

• 11e · Other revenue, total

  $236,368

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $1,883,769 · program services $1,883,769

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $0

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $9,111 · program services $9,111

• 8 · Pension plan contributions

  total $0

• 9 · Other employee benefits

  total $0

• 10 · Payroll taxes

  total $0

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $0

• 11c · Fees: accounting

  total $13,500 · management and general $13,500

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $173,396 · management and general $173,396

• 11g · Fees: other

  total $4,009 · program services $4,009

• 12 · Advertising and promotion

  total $8,222 · program services $7,962 · management and general $260

• 13 · Office expenses

  total $10,332 · program services $10,332

• 14 · Information technology

  total $19,600 · management and general $19,600

• 15 · Royalties

  total $0

• 16 · Occupancy

  total -$31 · program services -$31

• 17 · Travel

  total $15,063 · program services $8,838 · management and general $6,225

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $3,431 · program services $3,431

• 20 · Interest

  total $3,024,522 · management and general $3,024,522

• 21 · Payments to affiliates

  total $893,997 · program services $465,656 · management and general $428,341

• 22 · Depreciation, depletion and amortization

  total $0

• 23 · Insurance

  total $0

• 24a · Other expenses: Meals

  total $7,109 · program services $4,089 · management and general $3,020

• 24b · Other expenses: Membership Dues

  total $3,625 · program services $120 · management and general $3,505

• 24c · Other expenses: Entry Fees

  total $1,516 · program services $149 · management and general $1,367

• 24e · All other expenses

  total $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $702,058 · end of year $357,593

• 3 · Pledges and grants receivable

  beginning of year $670,430 · end of year $614,082

• 4 · Accounts receivable

  end of year $0

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  beginning of year $1,470,000 · end of year $1,470,000

• 8 · Inventories for sale or use

  end of year $0

• 9 · Prepaid expenses and deferred charges

  end of year $0

• 10c · Land, buildings and equipment, net

  end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $60,494,018 · end of year $67,439,005

• 12 · Investments: other securities

  beginning of year $477,605 · end of year $550,513

• 13 · Investments: program-related

  end of year $0

• 14 · Intangible assets

  end of year $0

• 15 · Other assets

  beginning of year $125,644,633 · end of year $122,610,884

• 17 · Accounts payable and accrued expenses

  beginning of year $210,826 · end of year $56,943

• 23 · Secured mortgages and notes payable

  beginning of year $125,628,429 · end of year $122,757,000

• 25 · Other liabilities

  beginning of year $11,874,581 · end of year $11,300,471

• 27 · Net assets without donor restrictions

  beginning of year $576,318 · end of year $1,071,383

• 28 · Net assets with donor restrictions

  beginning of year $51,168,590 · end of year $57,856,280

The filer's explanations (Part III)

Part I, Line 1a: Relevant information in regards to selections on 1a.

Travel for companions is covered under written policy. IF there is no business purpose, the amount is taxed to the employee.Various taxable benefits are grossed up to employees.Housing allowance is available for ministers in accordance with IRS regulations.President is required to live in University housing.The University pays for the President's house (owned by the University) to be cleaned.Country club dues are paid for the University President. Any business use is paid and documented. Personal use is reimbursed by employee.

Part I, Line 7: Non-Fixed payments not listed above

Occasional compensation may be merited for additional work. This is never based on results of operations or income of the University.

Related corporations and trusts

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

• Charitable Remainder Trusts 16

  IL