Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $627,567

• 1e · Government grants (contributions)

  $7,068,555

• 1f · All other contributions, gifts and grants

  $9,906,005

• 1g · Noncash contributions included above

  $2,601,466

• 2a · Program service revenue: TUITION

  total $280,941,662 · related or exempt $280,941,662

• 2b · Program service revenue: RESIDENCE FEES

  total $30,541,901 · related or exempt $30,541,901

• 2c · Program service revenue: DINING FEES

  total $14,316,390 · related or exempt $14,316,390

• 2d · Program service revenue: COMMISSIONS

  total $463,274 · related or exempt $463,274

• 3 · Investment income

  total $3,040,852 · excluded $3,040,852

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

  total $48,747 · excluded $48,747

• 6a · Gross rents

  real property $43,920

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $43,920

• 6d · Net rental income or loss

  total $43,920 · excluded $43,920

• 7a · Gross sales of assets other than inventory

  securities $34,565,935

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

  securities $36,930,091

• 7c · Gain or loss

  securities -$2,364,156

• 7d · Net gain or loss

  total -$2,364,156 · excluded -$2,364,156

• 8a · Fundraising events: gross income

  $68,214

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

  $627,567

• 8b · Fundraising events: direct expenses

  $230,084

• 8c · Net income from fundraising events

  total -$161,870 · excluded -$161,870

• 11a · Other revenue: GRANT IDC

  total $749,813 · related or exempt $749,813

• 11b · Other revenue: AUXILLARY OTHER

  total $721,564 · related or exempt $721,564

• 11c · Other revenue: ATHLETIC REVENUE

  total $432,873 · related or exempt $432,873

• 11d · All other revenue

  total $1,301,724 · related or exempt $1,301,724

• 11e · Other revenue, total

  $3,205,974

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $112,439,931 · program services $112,439,931

• 3 · Grants to foreign organizations and individuals

  total $14,991,153 · program services $14,991,153

• 5 · Compensation of officers, directors and key employees

  total $3,786,997 · program services $473,724 · management and general $2,148,841 · fundraising $1,164,432

• 7 · Other salaries and wages

  total $83,511,151 · program services $71,439,923 · management and general $11,088,025 · fundraising $983,203

• 8 · Pension plan contributions

  total $5,440,663 · program services $4,230,083 · management and general $1,062,847 · fundraising $147,733

• 9 · Other employee benefits

  total $10,071,640 · program services $8,477,227 · management and general $1,428,366 · fundraising $166,047

• 10 · Payroll taxes

  total $5,907,935 · program services $4,976,414 · management and general $828,307 · fundraising $103,214

• 11b · Fees: legal

  total $1,296,224 · program services $808,586 · management and general $487,638

• 11c · Fees: accounting

  total $257,256 · program services $244,056 · management and general $13,200

• 11d · Fees: lobbying

  total $56,685 · program services $56,685

• 11f · Fees: investment management

  total $217,004 · program services $114,862 · management and general $102,142

• 11g · Fees: other

  total $6,902,386 · program services $5,134,499 · management and general $1,686,971 · fundraising $80,916

• 12 · Advertising and promotion

  total $1,389,018 · program services $1,325,681 · management and general $54,712 · fundraising $8,625

• 13 · Office expenses

  total $5,959,620 · program services $4,853,906 · management and general $958,652 · fundraising $147,062

• 14 · Information technology

  total $4,907,237 · program services $1,786,715 · management and general $2,915,168 · fundraising $205,354

• 16 · Occupancy

  total $4,688,341 · program services $4,322,650 · management and general $365,691

• 17 · Travel

  total $2,742,724 · program services $2,607,248 · management and general $83,275 · fundraising $52,201

• 19 · Conferences, conventions and meetings

  total $1,205,381 · program services $557,295 · management and general $486,640 · fundraising $161,446

• 20 · Interest

  total $5,281,414 · program services $4,981,503 · management and general $299,911

• 22 · Depreciation, depletion and amortization

  total $11,419,120 · program services $10,495,623 · management and general $923,497

• 23 · Insurance

  total $6,715,386 · program services $4,856,228 · management and general $1,859,158

• 24a · Other expenses: FOOD SERVICE

  total $14,561,596 · program services $14,376,315 · management and general $123,583 · fundraising $61,698

• 24b · Other expenses: OTHER SERVICE AGREEMENT

  total $10,769,670 · program services $9,185,923 · management and general $1,419,570 · fundraising $164,177

• 24c · Other expenses: REPAIR AND MAINTENANCE

  total $9,322,042 · program services $9,072,997 · management and general $248,967 · fundraising $78

• 24d · Other expenses: LEASE AND RENTAL

  total $6,262,596 · program services $5,883,261 · management and general $374,831 · fundraising $4,504

• 24e · All other expenses

  total $12,893,630 · program services $12,091,238 · management and general $751,360 · fundraising $51,032

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $242,197 · end of year $287,523

• 2 · Savings and temporary cash investments

  beginning of year $17,411,075 · end of year $16,887,155

• 3 · Pledges and grants receivable

  beginning of year $5,057,198 · end of year $5,311,767

• 4 · Accounts receivable

  beginning of year $3,953,709 · end of year $5,367,100

• 7 · Other notes and loans receivable

  beginning of year $508,252 · end of year $50,769

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,024,936 · end of year $1,094,278

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

  $488,706,698

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

  $209,925,469

• 10c · Land, buildings and equipment, net

  beginning of year $276,807,859 · end of year $278,781,229

• 11 · Investments: publicly traded securities

  beginning of year $90,143,697 · end of year $103,028,617

• 12 · Investments: other securities

  beginning of year $7,922,088 · end of year $8,403,355

• 15 · Other assets

  beginning of year $22,982,742 · end of year $19,930,988

• 17 · Accounts payable and accrued expenses

  beginning of year $29,566,683 · end of year $28,681,021

• 18 · Grants payable

  beginning of year $1,192,117 · end of year $674,640

• 19 · Deferred revenue

  beginning of year $11,997,222 · end of year $11,019,872

• 20 · Tax-exempt bond liabilities

  beginning of year $116,083,120 · end of year $111,450,133

• 23 · Secured mortgages and notes payable

  end of year $8,250,000

• 25 · Other liabilities

  beginning of year $26,167,724 · end of year $23,136,872

• 27 · Net assets without donor restrictions

  beginning of year $177,970,627 · end of year $184,801,605

• 28 · Net assets with donor restrictions

  beginning of year $64,076,260 · end of year $71,128,638

The filer's explanations (Part III)

PART I, LINE 4B

SEVERANCE, NONQUALIFIED, AND EQUITY-BASED PAYMENTS NAME: KAPLAN, STEVEN H NONQUALIFIED: $100,000 DURING THE YEAR, TOTAL CONTRIBUTIONS OF $100,000 WERE MADE TO A 457(F) DEFERRED COMPENSATION PLAN. THESE CONTRIBUTIONS ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE UNTIL THE DATE OF VESTING (JANUARY 2025 AND JANUARY 2026, RESPECTIVELY).

PART I, LINE 7

NONFIXED PAYMENTS CERTAIN INDIVIDUALS RECEIVED DISCRETIONARY NONFIXED BONUS PAYMENTS IN CALENDAR YEAR 2022, AS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(II).

PART III - OTHER ADDITIONAL INFORMATION

SCHEDULE J, PART II, COLUMN (B)(II) THE AMOUNT REPORTED IN COLUMN (B)(II) FOR CHANCELLOR STEVEN H KAPLAN INCLUDES A GROSS UP PAYMENT OF $21,204. SCHEDULE J, PART II, COLUMN (B)(III) THE $137,193 AMOUNT REPORTED IN COLUMN (B)(III) FOR CHANCELLOR STEVEN H KAPLAN REPRESENTS OTHER REPORTABLE COMPENSATION ITEMS WHICH ARE TAXABLE TO THE CHANCELLOR. THIS INCLUDES $85,000 HOUSING ALLOWANCE, $38,133 LIFE INSURANCE COVERAGE, INCLUDING A GROSS UP PAYMENT OF $11,912, $9,906 FOR GROUP TERM LIFE INSURANCE COVERAGE AND $4,154 VEHICLE USE FRINGE BENEFIT. SCHEDULE J, PART II, COLUMN (C) THE AMOUNT REPORTED IN COLUMN (C) FOR STEVEN H KAPLAN OF $145,597 REPRESENTS RETIREMENT AND OTHER DEFERRED COMPENSATION ITEMS. CHANCELLOR KAPLAN PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN UNDER IRC SECTION 457(F). DURING THE YEAR THE ANNUAL CONTRACTUAL MINIMUM CONTRIBUTION OF $100,000 WAS MADE TO A 457(F). RETIREMENT CONTRIBUTIONS OF $20,500 FOR THE 457(B) PLAN AND $25,097 FOR THE 403(B) PLAN WERE ALSO MADE. SCHEDULE J, PART II, COLUMN (D) THE AMOUNT REPORTED IN COLUMN (D) FOR CHANCELLOR STEVEN H KAPLAN OF $48,308 CONSISTS OF EMPLOYEE CONTRIBUTED FUNDS OF $17,261 FOR MEDICAL INSURANCE, UNIVERSITY CONTRIBUTED FUNDS OF $26,929 FOR MEDICAL INSURANCE, $17 IN DIMINIMUS FRINGE BENEFIT, $3,601 FOR NONTAXABLE REIMBURSED TRAVEL AND $500 FOR PRE-TAX PARKING. INTERNATIONAL TRAVEL AND HOUSING CERTAIN EMPLOYEES, WHO PERFORM THEIR DUTIES OVERSEAS, RECEIVED ADDITIONAL COMPENSATION RELATED TO: HOUSING, TRANSPORTATION, TRAVEL, AND OTHER RELATED EXPENSES BECAUSE OF THEIR FOREIGN DEPLOYMENT. THESE EXPENSES ARE FUNDED BY AN INTERNATIONAL SERVICE CONTRACT WITH THE UNIVERSITY. THE ADDITIONAL COMPENSATION ITEMS ARE CODIFIED WITHIN EACH EMPLOYEE'S EMPLOYMENT CONTRACT AND ARE INCLUDED IN THE EMPLOYEE'S SCHEDULE J, PART II, COLUMN (B)(III).

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUST

  T · CHARITABLE TRUST · CT · controlled entity