Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,336,426

• 1f · All other contributions, gifts and grants

  $23,935,909

• 1g · Noncash contributions included above

  $4,079,864

• 2a · Program service revenue: TUITION & FEES

  total $146,265,036 · related or exempt $146,265,036

• 2b · Program service revenue: DORMITORY FEES

  total $15,310,234 · related or exempt $15,310,234

• 2c · Program service revenue: DINING FACILITIES

  total $10,217,376 · related or exempt $10,217,376

• 2d · Program service revenue: ALUMNI/FACULTY CENTER

  total $32,525 · related or exempt $32,525

• 3 · Investment income

  total $9,948,351 · unrelated business -$1,259,647 · excluded $11,207,998

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

  total $0

• 5 · Royalties

  total $0

• 6a · Gross rents

  real property $39,475

• 6b · Less rental expenses

  real property $128,983

• 6c · Rental income or loss

  real property -$89,508 · personal property $0

• 6d · Net rental income or loss

  total -$89,508 · excluded -$89,508

• 7a · Gross sales of assets other than inventory

  securities $582,146,031 · other assets -$205,646

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

  securities $554,095,998

• 7c · Gain or loss

  securities $28,050,033 · other assets -$205,646

• 7d · Net gain or loss

  total $27,844,387 · excluded $27,844,387

• 8a · Fundraising events: gross income

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0

• 10a · Gross sales of inventory

  $0

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $0

• 11a · Other revenue: OTHER REVENUE AND FEES

  total $4,606,348 · related or exempt $4,606,348 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $4,606,348

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $70,970,054 · program services $70,970,054

• 3 · Grants to foreign organizations and individuals

  total $3,260,807 · program services $3,260,807

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $2,513,813 · program services $860,168 · management and general $1,005,761 · fundraising $647,884

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $56,921,780 · program services $48,416,059 · management and general $4,955,007 · fundraising $3,550,714

• 8 · Pension plan contributions

  total $4,635,018 · program services $3,609,879 · management and general $668,002 · fundraising $357,137

• 9 · Other employee benefits

  total $8,244,958 · program services $6,403,493 · management and general $1,431,174 · fundraising $410,291

• 10 · Payroll taxes

  total $4,013,095 · program services $3,363,889 · management and general $360,585 · fundraising $288,621

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $678,386 · program services $311,890 · management and general $364,097 · fundraising $2,399

• 11c · Fees: accounting

  total $351,150 · program services $52,344 · management and general $298,806

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $11,726,626 · management and general $11,726,626

• 11g · Fees: other

  total $15,705,075 · program services $14,818,852 · management and general $670,997 · fundraising $215,226

• 12 · Advertising and promotion

  total $188,223 · program services $152,435 · management and general $30,511 · fundraising $5,277

• 13 · Office expenses

  total $1,699,012 · program services $1,060,653 · management and general $278,670 · fundraising $359,689

• 14 · Information technology

  total $2,964,489 · program services $2,484,805 · management and general $348,232 · fundraising $131,452

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $8,620,309 · program services $8,243,083 · management and general $357,572 · fundraising $19,654

• 17 · Travel

  total $6,689,769 · program services $5,812,092 · management and general $679,612 · fundraising $198,065

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $266,270 · program services $225,277 · management and general $23,931 · fundraising $17,062

• 20 · Interest

  total $3,643,040 · program services $3,643,040

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $13,917,952 · program services $13,698,058 · management and general $219,709 · fundraising $185

• 23 · Insurance

  total $3,453,185 · program services $2,475,269 · management and general $977,888 · fundraising $28

• 24a · Other expenses: ROOM & BOARD

  total $10,839,232 · program services $10,839,232

• 24b · Other expenses: PROGRAM

  total $7,895,805 · program services $7,380,309 · management and general $224,921 · fundraising $290,575

• 24c · Other expenses: MEDICAL

  total $2,127,749 · program services $2,124,901 · management and general $2,848

• 24d · Other expenses: BOOKS & PERIODICALS

  total $1,491,260 · program services $1,478,776 · management and general $2,275 · fundraising $10,209

• 24e · All other expenses

  total $7,559,434 · program services $6,738,252 · management and general $774,114 · fundraising $47,068

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $68,119,061 · end of year $67,785,237

• 3 · Pledges and grants receivable

  beginning of year $31,433,392 · end of year $28,328,831

• 4 · Accounts receivable

  beginning of year $1,866,276 · end of year $714,653

• 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 $4,966,928 · end of year $4,417,433

• 8 · Inventories for sale or use

  beginning of year $20,203 · end of year $13,977

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,112,524 · end of year $1,171,102

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

  $653,788,816

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

  $336,742,111

• 10c · Land, buildings and equipment, net

  beginning of year $314,511,266 · end of year $317,046,705

• 11 · Investments: publicly traded securities

  beginning of year $634,065,514 · end of year $650,624,125

• 12 · Investments: other securities

  beginning of year $105,528,747 · end of year $95,409,999

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $650,842 · end of year $1,267,513

• 17 · Accounts payable and accrued expenses

  beginning of year $21,030,988 · end of year $24,393,980

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $1,850,506 · end of year $1,937,444

• 20 · Tax-exempt bond liabilities

  beginning of year $154,272,778 · end of year $150,610,982

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 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 $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $43,501,630 · end of year $41,430,387

• 27 · Net assets without donor restrictions

  beginning of year $117,584,768 · end of year $116,058,943

• 28 · Net assets with donor restrictions

  beginning of year $824,034,083 · end of year $832,347,839

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A:

TRAVEL FOR COMPANIONS - THE SPOUSES OF THE PRESIDENT AND THE VICE PRESIDENT ADVANCEMENT OCCASIONALLY TRAVEL WITH THEM TO PARTICIPATE IN FUNDRAISING EVENTS. THIS TRAVEL IS FOR THE BENEFIT OF THE COLLEGE AND IS STRICTLY FOR BUSINESS PURPOSES. THEREFORE, IT IS NOT TREATED AS TAXABLE COMPENSATION. TRAVEL EXPENSES OF THE VICE PRESIDENT ARE REVIEWED AND APPROVED BY THE PRESIDENT. THE TRAVEL EXPENSES OF THE PRESIDENT ARE REVIEWED AND APPROVED BY THE BOARD. HOUSING ALLOWANCE - ON CAMPUS HOUSING IS PROVIDED FOR THE PRESIDENT OF THE COLLEGE AND THE VP STUDENT AFFAIRS & DEAN OF CAMPUS LIFE AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER. THE VALUE OF THE HOUSING IS INCLUDED IN PART II, COLUMN (D). THE VICE PRESIDENT ADVANCEMENT AND THE VP STRATEGIC MARKETING & COMMUNICATIONS RECEIVE A HOUSING ALLOWANCE WHICH IS TREATED AS TAXABLE AND INCLUDED IN PART II, COLUMN (B)(III). SOCIAL CLUB DUES OR INITIATION FEES - A MEMBERSHIP IN A SOCIAL CLUB IS PROVIDED FOR THE PRESIDENT, AND IS USED FOR FUNDRAISING ACTIVITIES. THE PRESIDENT IDENTIFIES AND PAYS FOR ANY PERSONAL USE OF THE SOCIAL CLUB. PERSONAL SERVICES - IN CONNECTION WITH THE HOUSING PROVIDED FOR THE CONVENIENCE OF THE EMPLOYER, CERTAIN HOUSEKEEPING SERVICES WERE PROVIDED TO THE PRESIDENT. THE VALUE OF THESE SERVICES ARE TREATED AS TAXABLE AND INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). SCHEDULE J, PART I, LINE 1B: IN CONNECTION WITH THE BENEFITS DISCLOSED ON SCHEDULE J, PART I, LINE 1, THE ORGANIZATION PROVIDES PURSUANT TO ITS POLICIES AND/OR THE TERMS OF THE EMPLOYMENT CONTRACT OF THE INDIVIDUAL RECEIVING THE BENEFIT.

SCHEDULE J, PART I, LINE 4B:

PURSUANT TO THE TERMS OF A SECTION 457(F) DEFERRED COMPENSATION PLAN, THE PRESIDENT IS ENTITLED TO CERTAIN DEFERRED COMPENSATION BENEFITS WHICH VEST THE EARLIEST OF (1) AGREED UPON DATE; (2) DEATH; (3) DISABILITY; OR (4) INVOLUNTARY TERMINATION OF EMPLOYMENT FROM THE COLLEGE. A CREDIT OF $44,780 WAS MADE IN 2022 AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C). IN 2022, AMOUNTS UNDER THE PLAN BECAME VESTED AND WERE PAID TO THE PRESIDENT. THE AMOUNTS PAID ARE REFLECTED IN SCHEDULE J, PART II, COLUMN (B) III. PURSUANT TO THE TERMS OF A SECTION 457(F) DEFERRED COMPENSATION PLAN, THE VP FINANCE IS ENTITLED TO CERTAIN DEFERRED COMPENSATION BENEFITS WHICH VEST THE EARLIEST OF (1) AGREED UPON DATE; (2) DEATH; (3) DISABILITY; OR (4) INVOLUNTARY TERMINATION OF EMPLOYMENT FROM THE COLLEGE. A CREDIT OF $7,889 WAS MADE IN 2022 AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C). IN 2022, AMOUNTS UNDER THE PLAN BECAME VESTED AND WERE PAID TO THE VP FINANCE. THE AMOUNTS PAID ARE REFLECTED IN SCHEDULE J, PART II, COLUMN (B) III. PURSUANT TO THE TERMS OF A SECTION 457(F) DEFERRED COMPENSATION PLAN, THE VP ACADEMIC AFFAIRS IS ENTITLED TO CERTAIN DEFERRED COMPENSATION BENEFITS WHICH VEST THE EARLIEST OF (1) AGREED UPON DATE; (2) DEATH;(3) DISABILITY; OR (4) INVOLUNTARY TERMINATION OF EMPLOYMENT FROM THE COLLEGE. A CREDIT OF $4,960 WAS MADE IN 2022 AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C). IN 2022, AMOUNTS UNDER THE PLAN BECAME VESTED AND WERE PAID TO THE VP ACADEMIC AFFAIRS. THE AMOUNTS PAID ARE REFLECTED IN SCHEDULE J, PART II, COLUMN (B) III. PURSUANT TO THE TERMS OF A SECTION 457(F) DEFERRED COMPENSATION PLAN, THE VP ADVANCEMENT IS ENTITLED TO CERTAIN DEFERRED COMPENSATION BENEFITS WHICH VEST THE EARLIEST OF (1) AGREED UPON DATE; (2) DEATH; (3) DISABILITY; OR (4) INVOLUNTARY TERMINATION OF EMPLOYMENT FROM THE COLLEGE. A CREDIT OF $6,355 WAS MADE IN 2022 AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C). IN 2022, AMOUNTS UNDER THE PLAN BECAME VESTED AND WERE PAID TO THE VP ADVANCEMENT. THE AMOUNTS PAID ARE REFLECTED IN SCHEDULE J, PART II, COLUMN (B) III.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• ACADIAN INTRNTL EXT PLUS EQUITY FUND

  excluded from tax · INVESTMENT · MA · 50.51% owned · share of income $1,682,369 · share of assets $7,496,816

  Directly controlled by TRINITY

Related corporations and trusts

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

• POOLED INCOME FUND

  TRUST · SUPPORT · CT

  Directly controlled by NA

• CHARITABLE REMAINDER UNITRUSTS (19)

  TRUST · SUPPORT · CT

  Directly controlled by NA