Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $432,425

• 1d · Related organizations

  $497,757

• 1e · Government grants (contributions)

  $2,711,302

• 1f · All other contributions, gifts and grants

  $4,383,010

• 1g · Noncash contributions included above

  $76,582

• 2a · Program service revenue: TUITION AND FEES

  total $38,319,387 · related or exempt $38,319,387

• 2b · Program service revenue: AUXILIARY REVENUE

  total $10,988,688 · related or exempt $10,988,688

• 2f · All other program service revenue

  total $661,796 · related or exempt $661,796

• 3 · Investment income

  total $2,142,374 · excluded $2,142,374

• 5 · Royalties

  total $14,921 · excluded $14,921

• 6a · Gross rents

  real property $65,979

• 6b · Less rental expenses

  real property $215,303

• 6c · Rental income or loss

  real property -$149,324

• 6d · Net rental income or loss

  total -$149,324 · excluded -$149,324

• 7a · Gross sales of assets other than inventory

  securities $1,402,716

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

  securities $1,282,707 · other assets $21,347

• 7c · Gain or loss

  securities $120,009 · other assets -$21,347

• 7d · Net gain or loss

  total $98,662 · excluded $98,662

• 8a · Fundraising events: gross income

  $3,675

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

  $432,425

• 8b · Fundraising events: direct expenses

  $118,577

• 8c · Net income from fundraising events

  total -$114,902 · excluded -$114,902

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $18,818,858 · program services $18,818,858

• 5 · Compensation of officers, directors and key employees

  total $1,418,278 · program services $410,398 · management and general $818,574 · fundraising $189,306

• 6 · Compensation of disqualified persons

  total $139,583 · program services $104,523 · management and general $28,475 · fundraising $6,585

• 7 · Other salaries and wages

  total $15,892,040 · program services $14,090,301 · management and general $1,707,920 · fundraising $93,819

• 8 · Pension plan contributions

  total $798,845 · program services $703,258 · management and general $87,559 · fundraising $8,028

• 9 · Other employee benefits

  total $2,138,685 · program services $1,180,087 · management and general $951,355 · fundraising $7,243

• 10 · Payroll taxes

  total $1,146,758 · program services $978,029 · management and general $148,319 · fundraising $20,410

• 11b · Fees: legal

  total $25,360 · management and general $25,360

• 11c · Fees: accounting

  total $105,784 · management and general $105,784

• 11f · Fees: investment management

  total $293,000 · management and general $293,000

• 11g · Fees: other

  total $1,617,581 · program services $201,466 · management and general $1,341,827 · fundraising $74,288

• 12 · Advertising and promotion

  total $156,716 · program services $9,304 · management and general $67,412 · fundraising $80,000

• 13 · Office expenses

  total $2,945,261 · program services $2,661,272 · management and general $236,531 · fundraising $47,458

• 14 · Information technology

  total $407,688 · program services $373,413 · management and general $30,734 · fundraising $3,541

• 16 · Occupancy

  total $3,698,126 · program services $3,518,779 · management and general $123,449 · fundraising $55,898

• 17 · Travel

  total $1,825,105 · program services $1,735,039 · management and general $74,000 · fundraising $16,066

• 20 · Interest

  total $679,741 · program services $619,704 · management and general $53,835 · fundraising $6,202

• 22 · Depreciation, depletion and amortization

  total $3,533,513 · program services $3,221,421 · management and general $279,853 · fundraising $32,239

• 23 · Insurance

  total $1,437,075 · program services $38,456 · management and general $1,398,619

• 24a · Other expenses: DINING SERVICES

  total $3,335,471 · program services $3,335,471

• 24b · Other expenses: STUDENT SERVICES

  total $466,787 · program services $466,787

• 24c · Other expenses: AUXILIARY SERVICES

  total $448,142 · program services $448,142

• 24d · Other expenses: INSTRUCTIONAL EXPENSES

  total $441,800 · program services $441,800

• 24e · All other expenses

  total $347,322 · program services $347,322

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $230,165 · end of year $288,457

• 2 · Savings and temporary cash investments

  beginning of year $818,832 · end of year $330,595

• 3 · Pledges and grants receivable

  beginning of year $39,060 · end of year $31,435

• 4 · Accounts receivable

  beginning of year $1,546,646 · end of year $1,629,868

• 7 · Other notes and loans receivable

  beginning of year $166,569 · end of year $186,240

• 9 · Prepaid expenses and deferred charges

  beginning of year $649,135 · end of year $848,955

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

  $135,933,187

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

  $55,030,798

• 10c · Land, buildings and equipment, net

  beginning of year $83,095,322 · end of year $80,902,389

• 11 · Investments: publicly traded securities

  beginning of year $17,939,674 · end of year $16,549,468

• 12 · Investments: other securities

  beginning of year $44,550,363 · end of year $47,773,400

• 15 · Other assets

  beginning of year $13,284,205 · end of year $14,142,695

• 17 · Accounts payable and accrued expenses

  beginning of year $2,464,746 · end of year $2,650,614

• 19 · Deferred revenue

  beginning of year $3,481,530 · end of year $2,745,350

• 23 · Secured mortgages and notes payable

  beginning of year $20,806,595 · end of year $19,366,987

• 24 · Unsecured notes and loans payable

  end of year $450,000

• 25 · Other liabilities

  beginning of year $382,627 · end of year $225,780

• 27 · Net assets without donor restrictions

  beginning of year $50,955,001 · end of year $50,092,388

• 28 · Net assets with donor restrictions

  beginning of year $84,229,472 · end of year $87,152,383

The filer's explanations (Part III)

PART I, LINE 1A

AS A CONDITION OF EMPLOYMENT, AND AS A CONVENIENCE TO THE UNIVERSITY, THE PRESIDENT IS PROVIDED A HOME ON UNIVERSITY GROUNDS. THESE BENEFITS ARE PROVIDED AS NON-TAXABLE BENEFITS ACCORDINGLY. THE UNIVERSITY ALSO PROVIDES GROUNDS CARE AND HOUSEKEEPING FOR THE HOME SINCE THE PRESIDENT HOSTS FUNCTIONS FOR THE UNIVERSITY AT HIS HOME. THE HOME IS PROVIDED AS A NONTAXABLE BENEFIT TO THE PRESIDENT BECAUSE IT IS REQUIRED IN HIS CONTRACT AND HE RESIDES THERE FOR THE CONVENIENCE OF THE UNIVERSITY. THESE BENEFITS ARE PROVIDED AS NON-TAXABLE BENEFITS ACCORDINGLY.

PART I, LINE 4B

THE PRESIDENT RECEIVED 457(F) PLAN CONTRIBUTIONS OF $75,000 WHICH WAS NOT TAXABLE.

PART I, LINE 7

THE PRESIDENT RECEIVES DISCRETIONARY BONUS COMPENSATION THAT IS DETERMINED BASED ON PERFORMANCE-BASED GOALS ACHIEVED AND APPROVED BY THE BOARD. DISCRETIONARY BONUS COMPENSATION FOR OFFICERS IS DETERMINED BY THE PRESIDENT BASED ON PERFORMANCE.

Related corporations and trusts

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

• CHARITABLE REMAINDER UNITRUSTS (10)

  HOLD ASSETS & REMIT INCOME TO UNIVERSITY · TX · controlled entity

  Directly controlled by EAST TEXAS BAPTIST UNIVERSITY

• PERPETUAL TRUSTS (57)

  HOLD ASSETS & REMIT INCOME TO UNIVERSITY · TX · controlled entity

  Directly controlled by EAST TEXAS BAPTIST UNIVERSITY