Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $208,812

• 2a · Program service revenue: TUITION & FEES

  total $70,051,996 · related or exempt $70,051,996

• 2b · Program service revenue: ADMINISTRATION SERVICE FEES

  total $1,165,422 · related or exempt $1,165,422

• 2f · All other program service revenue

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

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7c · Gain or loss

  securities $0 · other assets $0

• 11a · Other revenue: GRADUATION FEES

  total $250,045 · related or exempt $250,045

• 11b · Other revenue: OTHER INCOME

  total $219,323 · related or exempt $219,323

• 11d · All other revenue

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

• 11e · Other revenue, total

  $469,368

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $209,863 · program services $209,863

• 5 · Compensation of officers, directors and key employees

  total $1,766,041 · program services $199,770 · management and general $1,566,271

• 6 · Compensation of disqualified persons

  total $310,765 · program services $204,587 · management and general $106,178

• 7 · Other salaries and wages

  total $23,086,245 · program services $16,161,305 · management and general $6,924,940

• 8 · Pension plan contributions

  total $69,286 · program services $45,613 · management and general $23,673

• 9 · Other employee benefits

  total $2,951,695 · program services $1,943,198 · management and general $1,008,497

• 10 · Payroll taxes

  total $1,876,420 · program services $1,235,309 · management and general $641,111

• 11b · Fees: legal

  total $494,858 · management and general $494,858

• 11c · Fees: accounting

  total $196,151 · management and general $196,151

• 11g · Fees: other

  total $10,090,425 · program services $1,268,775 · management and general $8,821,650 · fundraising $0

• 12 · Advertising and promotion

  total $2,730,903 · management and general $2,730,903

• 13 · Office expenses

  total $545,845 · program services $224,096 · management and general $321,749

• 14 · Information technology

  total $1,761,196 · program services $723,060 · management and general $1,038,136

• 16 · Occupancy

  total $5,532,239 · program services $426,562 · management and general $5,105,677

• 17 · Travel

  total $939,431 · program services $385,684 · management and general $553,747

• 19 · Conferences, conventions and meetings

  total $30,184 · program services $12,392 · management and general $17,792

• 20 · Interest

  total $1,086,123 · management and general $1,086,123

• 22 · Depreciation, depletion and amortization

  total $3,119,617 · program services $464,537 · management and general $2,655,080

• 23 · Insurance

  total $525,165 · management and general $525,165

• 24a · Other expenses: BAD DEBT EXPENSE

  total $3,699,689 · program services $3,699,689

• 24b · Other expenses: OTHER EXPENSES

  total $2,801,302 · program services $938,328 · management and general $1,862,974

• 24c · Other expenses: STUDENT SERVICES

  total $532,173 · program services $218,484 · management and general $313,689

• 24d · Other expenses: SPONSORSHIPS

  total $491,325 · program services $201,714 · management and general $289,611

• 24e · All other expenses

  total $761,273 · program services $312,541 · management and general $448,732 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $10,067,732 · end of year $2,743,694

• 2 · Savings and temporary cash investments

  beginning of year $1,754,800 · end of year $1,754,780

• 4 · Accounts receivable

  beginning of year $1,580,947 · end of year $2,417,809

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $387,258 · end of year $233,108

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

  $31,680,510

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

  $14,068,564

• 10c · Land, buildings and equipment, net

  beginning of year $19,025,672 · end of year $17,611,946

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $11,314,564 · end of year $9,948,034

• 17 · Accounts payable and accrued expenses

  beginning of year $3,359,259 · end of year $5,570,615

• 19 · Deferred revenue

  beginning of year $2,542,022 · end of year $589,524

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $10,805,020 · end of year $9,566,973

• 25 · Other liabilities

  beginning of year $25,807,099 · end of year $12,789,562

• 27 · Net assets without donor restrictions

  beginning of year $1,617,573 · end of year $6,192,697

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Discretionary spending account

DISCRETIONARY SPENDING ACCOUNTS ARE AVAILABLE FOR ELIGIBLE OFFICERS AND DIRECTORS FOR REASONABLE EXPENSES INCURRED IN THE PERFORMANCE OF THEIR DUTIES.

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

HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE- THE INSTITUTION OWNS AND RENTS SEVERAL PROPERTIES THAT ARE USED AS RESIDENCES FOR THE PRESIDENT'S AND EXECUTIVE MEMBERS OF HIS STAFF. THE RENT MARKET VALUE OF THESE PROPERTIES ARE CLASSIFIED AND REPORTED AS NONTAXABLE TO THE RECIPIENTS.

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

HEALTH AND SOCIAL CLUB DUES OR INITIATION FEES-THE INSTITUTION COVERS THE COST OF MEMBERSHIP AT LOCAL HOTELS TO BE USED FOR OFFICIAL ACTIVITIES. THE COSTS ARE REPORTED AS NONTAXABLE TO THE RECIPIENTS.

Schedule J, Part I, Line 1a Personal services

PERSONAL SERVICES- THE INSTITUTION COVERS THE COST OF A CHAUFFEUR FOR THE PRESIDENT AND MAID SERVICES AT THE PRESIDENT'S RESIDENCE. THE COSTS ARE REPORTED AS NONTAXABLE TO THE RECIPIENTS.