Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,782,267

• 1f · All other contributions, gifts and grants

  $16,770,603

• 1g · Noncash contributions included above

  $486,653

• 2a · Program service revenue: TUITION & FEES

  total $134,081,697 · related or exempt $134,081,697

• 2b · Program service revenue: SALES & SERVICE OF AUX

  total $18,703,667 · related or exempt $18,703,667

• 3 · Investment income

  total $21,181,350 · unrelated business $836,500 · excluded $20,344,850

• 6a · Gross rents

  real property $1,930,647

• 6b · Less rental expenses

  real property $1,078,687

• 6c · Rental income or loss

  real property $851,960

• 6d · Net rental income or loss

  total $851,960 · excluded $851,960

• 7a · Gross sales of assets other than inventory

  securities $281,583,439

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

  securities $252,021,479

• 7c · Gain or loss

  securities $29,561,960

• 7d · Net gain or loss

  total $29,561,960 · excluded $29,561,960

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $1,781,855 · related or exempt $1,353,379 · excluded $428,476

• 11e · Other revenue, total

  $1,781,855

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $277,315 · program services $277,315

• 2 · Grants to domestic individuals

  total $75,203,231 · program services $75,203,231

• 5 · Compensation of officers, directors and key employees

  total $3,442,142 · program services $1,513,980 · management and general $1,514,735 · fundraising $413,427

• 7 · Other salaries and wages

  total $64,326,919 · program services $52,161,072 · management and general $8,899,590 · fundraising $3,266,257

• 8 · Pension plan contributions

  total $4,468,739 · program services $3,530,988 · management and general $751,466 · fundraising $186,285

• 9 · Other employee benefits

  total $10,574,089 · program services $8,405,107 · management and general $1,801,124 · fundraising $367,858

• 10 · Payroll taxes

  total $3,945,889 · program services $3,119,986 · management and general $655,281 · fundraising $170,622

• 11b · Fees: legal

  total $660,403 · program services $253,146 · management and general $399,747 · fundraising $7,510

• 11c · Fees: accounting

  total $120,317 · program services $26 · management and general $120,233 · fundraising $58

• 11f · Fees: investment management

  total $908,969 · management and general $908,969

• 11g · Fees: other

  total $11,288,036 · program services $8,188,932 · management and general $2,573,564 · fundraising $525,540

• 12 · Advertising and promotion

  total $218,950 · program services $153,617 · management and general $57,761 · fundraising $7,572

• 13 · Office expenses

  total $6,275,714 · program services $4,503,928 · management and general $1,196,495 · fundraising $575,291

• 14 · Information technology

  total $3,297,948 · program services $458,361 · management and general $2,830,471 · fundraising $9,116

• 16 · Occupancy

  total $4,193,457 · program services $3,905,518 · management and general $274,527 · fundraising $13,412

• 17 · Travel

  total $445,783 · program services $293,403 · management and general $115,814 · fundraising $36,566

• 19 · Conferences, conventions and meetings

  total $2,963,206 · program services $2,326,278 · management and general $360,171 · fundraising $276,757

• 20 · Interest

  total $2,601,652 · program services $2,588,327 · management and general $13,325

• 22 · Depreciation, depletion and amortization

  total $10,392,726 · program services $9,406,235 · management and general $986,491

• 23 · Insurance

  total $114,884 · management and general $114,875 · fundraising $9

• 24a · Other expenses: STUDY ABROAD

  total $4,800,918 · program services $4,800,896 · management and general $22

• 24b · Other expenses: BOOKS, PERIODICALS, ART

  total $1,587,560 · program services $1,545,391 · management and general $30,544 · fundraising $11,625

• 24c · Other expenses: MINOR EQUIPMENT

  total $1,167,789 · program services $896,523 · management and general $243,112 · fundraising $28,154

• 24e · All other expenses

  total $3,174,887 · program services $2,236,015 · management and general $914,904 · fundraising $23,968

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $16,720,442 · end of year $11,091,446

• 3 · Pledges and grants receivable

  beginning of year $3,490,447 · end of year $3,977,467

• 4 · Accounts receivable

  beginning of year $3,279,106 · end of year $1,317,284

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,364,652 · end of year $1,865,521

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

  $398,832,779

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

  $189,657,176

• 10c · Land, buildings and equipment, net

  beginning of year $209,172,087 · end of year $209,175,603

• 11 · Investments: publicly traded securities

  beginning of year $314,909,424 · end of year $362,618,733

• 12 · Investments: other securities

  beginning of year $542,604,314 · end of year $544,348,629

• 13 · Investments: program-related

  beginning of year $7,974,323 · end of year $7,954,903

• 15 · Other assets

  beginning of year $37,101,623 · end of year $40,993,369

• 17 · Accounts payable and accrued expenses

  beginning of year $13,777,130 · end of year $14,453,310

• 18 · Grants payable

  beginning of year $1,183,377 · end of year $937,347

• 19 · Deferred revenue

  beginning of year $1,662,630 · end of year $1,926,577

• 20 · Tax-exempt bond liabilities

  beginning of year $74,865,456 · end of year $65,106,505

• 21 · Escrow or custodial account liability

  beginning of year $820,472 · end of year $299,023

• 25 · Other liabilities

  beginning of year $12,340,169 · end of year $12,284,858

• 27 · Net assets without donor restrictions

  beginning of year $218,332,769 · end of year $222,458,839

• 28 · Net assets with donor restrictions

  beginning of year $813,634,415 · end of year $865,876,496

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR COMPANIONS: THE COLLEGE ONLY PAYS THE TRAVEL EXPENSES OF THE PRESIDENT'S SPOUSE IF THE PURPOSE OF THEIR TRIP IS RELATED TO COLLEGE BUSINESS. THIS ADDITIONAL COMPENSATION IS NOT REPORTED ON THE EMPLOYEE'S W-2. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: THE COLLEGE'S PRESIDENT IS PROVIDED WITH HOUSING AS A CONDITION OF EMPLOYMENT. THE HOUSE IS USED FOR BOTH BUSINESS AND PERSONAL PURPOSES. HOUSEKEEPING SERVICES ARE ALSO PROVIDED. THIS ADDITIONAL COMPENSATION IS NOT REPORTED ON THE EMPLOYEE'S W-2. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: ELIGIBLE COLLEGE EMPLOYEES RECEIVE AN ANNUAL RETIREMENT PLAN CONTRIBUTION FROM THE COLLEGE EQUAL TO 10% OF ELIGIBLE SALARY, SUBJECT TO IRS ANNUAL LIMITS. BECAUSE THE RETIREMENT CONTRIBUTION FOR THE PRESIDENT HITS THE IRS LIMIT, THE COLLEGE SUPPLEMENTS THE PRESIDENT'S ANNUAL COMPENSATION WITH AN AMOUNT THAT BRINGS THE RETIREMENT PLAN CONTRIBUTION TO THE LEVEL OF OTHER PARTICIPANTS IN THE PLAN. THE COLLEGE OFFSETS THE INCOME TAX BURDEN OF THIS ADDITIONAL COMPENSATION BY GROSSING UP THE WAGES FOR THE YEAR. THIS ADDITIONAL COMPENSATION IS REPORTED ON THE EMPLOYEE'S W-2.

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUSTS (16)

  T · INVESTMENTS · MN · controlled entity

  Directly controlled by MACALESTER COLLEGE

• CHARITABLE REMAINDER TRUSTS (1)

  T · INVESTMENTS · MA · controlled entity

  Directly controlled by MACALESTER COLLEGE