Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $1,050,000

• 1e · Government grants (contributions)

  $2,074,893

• 1f · All other contributions, gifts and grants

  $7,279,222

• 2a · Program service revenue: Tuition and fees

  total $68,765,768 · related or exempt $68,765,768

• 2b · Program service revenue: Auxiliary enterprises

  total $7,440,166 · related or exempt $7,440,166

• 2f · All other program service revenue

  total $2,395,242 · related or exempt $2,395,242 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $4,839,320 · unrelated business $105,097 · excluded $4,734,223

• 6a · Gross rents

  real property $14,089

• 6c · Rental income or loss

  real property $14,089 · personal property $0

• 6d · Net rental income or loss

  total $14,089 · excluded $14,089

• 7a · Gross sales of assets other than inventory

  securities $51,695,305

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

  securities $50,408,145

• 7c · Gain or loss

  securities $1,287,160 · other assets $0

• 7d · Net gain or loss

  total $1,287,160 · excluded $1,287,160

• 11d · All other revenue

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

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $31,174,870 · program services $31,174,870

• 5 · Compensation of officers, directors and key employees

  total $735,428 · program services $668,893 · management and general $42,176 · fundraising $24,359

• 6 · Compensation of disqualified persons

  total $47,524 · program services $43,783 · management and general $2,174 · fundraising $1,567

• 7 · Other salaries and wages

  total $30,843,947 · program services $28,415,691 · management and general $1,410,966 · fundraising $1,017,290

• 8 · Pension plan contributions

  total $1,583,215 · program services $1,352,195 · management and general $177,527 · fundraising $53,493

• 9 · Other employee benefits

  total $2,822,827 · program services $2,410,926 · management and general $316,525 · fundraising $95,376

• 10 · Payroll taxes

  total $1,917,322 · program services $1,637,550 · management and general $214,990 · fundraising $64,782

• 11b · Fees: legal

  total $126,020 · management and general $126,020

• 11c · Fees: accounting

  total $161,876 · management and general $161,876

• 11e · Fees: professional fundraising services

  total $111,242 · fundraising $111,242

• 11f · Fees: investment management

  total $565,386 · management and general $565,386

• 11g · Fees: other

  total $3,886,517 · program services $2,165,084 · management and general $1,673,554 · fundraising $47,879

• 12 · Advertising and promotion

  total $1,131,873 · program services $752,761 · management and general $289,411 · fundraising $89,701

• 13 · Office expenses

  total $827,910 · program services $423,973 · management and general $364,455 · fundraising $39,482

• 14 · Information technology

  total $1,226,349 · program services $555,656 · management and general $592,851 · fundraising $77,842

• 16 · Occupancy

  total $5,403,458 · program services $5,156,741 · management and general $222,567 · fundraising $24,150

• 17 · Travel

  total $878,552 · program services $584,288 · management and general $224,639 · fundraising $69,625

• 20 · Interest

  total $2,282,579 · program services $2,197,439 · management and general $74,412 · fundraising $10,728

• 22 · Depreciation, depletion and amortization

  total $6,297,200 · program services $6,063,946 · management and general $203,863 · fundraising $29,391

• 23 · Insurance

  total $1,022,602 · program services $608,850 · management and general $387,774 · fundraising $25,978

• 24a · Other expenses: Equipment & supplies

  total $1,396,626 · program services $831,541 · management and general $529,606 · fundraising $35,479

• 24b · Other expenses: Recruiting

  total $1,268,408 · program services $843,565 · management and general $324,322 · fundraising $100,521

• 24c · Other expenses: Professional development

  total $420,598 · program services $279,722 · management and general $107,544 · fundraising $33,332

• 24d · Other expenses: Program Events

  total $383,247 · program services $254,882 · management and general $97,993 · fundraising $30,372

• 24e · All other expenses

  total $1,382,033 · program services $994,264 · management and general $345,347 · fundraising $42,422

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,440,488 · end of year $7,748,773

• 2 · Savings and temporary cash investments

  beginning of year $1,410,487 · end of year $4,441,975

• 3 · Pledges and grants receivable

  beginning of year $1,561,281 · end of year $2,220,880

• 4 · Accounts receivable

  beginning of year $1,145,397 · end of year $1,310,079

• 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

• 7 · Other notes and loans receivable

  beginning of year $37,076 · end of year $34,387

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

  $203,347,955

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

  $94,896,472

• 10c · Land, buildings and equipment, net

  beginning of year $107,742,136 · end of year $108,451,483

• 11 · Investments: publicly traded securities

  beginning of year $87,849,541 · end of year $88,810,701

• 12 · Investments: other securities

  beginning of year $111,638,741 · end of year $110,312,204

• 13 · Investments: program-related

  beginning of year $779,226 · end of year $601,059

• 15 · Other assets

  beginning of year $5,468,372 · end of year $7,176,756

• 17 · Accounts payable and accrued expenses

  beginning of year $5,641,265 · end of year $6,679,251

• 19 · Deferred revenue

  beginning of year $1,833,547 · end of year $1,978,454

• 20 · Tax-exempt bond liabilities

  beginning of year $75,662,018 · end of year $73,176,385

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  end of year $1,350,000

• 25 · Other liabilities

  beginning of year $2,157,190 · end of year $1,629,726

• 27 · Net assets without donor restrictions

  beginning of year $143,897,812 · end of year $145,885,549

• 28 · Net assets with donor restrictions

  beginning of year $94,880,913 · end of year $100,408,932

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions

The President's spouse occasionally travels with her for college related business. The travel is for a bona-fide business purpose and is therefore treated as nontaxable.

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

As a condition of employment, and as a convenience to the university, the president is provided a home on university grounds. The home is provided as a nontaxable benefit to the president.

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

Dues paid for the President were considered a bona-fide business expense for networking opportunities beneficial to the institution.