Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $14,819,824

• 1g · Noncash contributions included above

  $65,771

• 2a · Program service revenue: Tuition and fees

  total $17,674,476 · related or exempt $17,674,476

• 2b · Program service revenue: Auxiliary enterprises

  total $7,102,938 · related or exempt $7,102,938

• 2c · Program service revenue: Fees for non-academic credit offerings

  total $805,188 · related or exempt $805,188

• 2f · All other program service revenue

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

• 3 · Investment income

  total $18,980,344 · unrelated business $3,648,313 · excluded $15,332,031

• 6a · Gross rents

  real property $1,500,042

• 6b · Less rental expenses

  real property $1,398,363

• 6c · Rental income or loss

  real property $101,679 · personal property $0

• 6d · Net rental income or loss

  total $101,679 · excluded $101,679

• 7a · Gross sales of assets other than inventory

  securities $117,266,116 · other assets $37,433

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

  securities $93,127,469 · other assets $0

• 7c · Gain or loss

  securities $24,138,647 · other assets $37,433

• 7d · Net gain or loss

  total $24,176,080 · excluded $24,176,080

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

  $0

• 11a · Other revenue: Credit card purchase rebates

  total $78,954 · related or exempt $78,954

• 11b · Other revenue: Employee contributions for health care and COBRA

  total $596,439 · related or exempt $596,439

• 11c · Other revenue: Child care charged to employees

  total $302,354 · related or exempt $302,354

• 11d · All other revenue

  total $861,740 · related or exempt $861,740 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $1,839,487

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $13,726 · program services $13,726

• 2 · Grants to domestic individuals

  total $14,442,723 · program services $14,442,723

• 5 · Compensation of officers, directors and key employees

  total $2,428,910 · management and general $2,257,653 · fundraising $171,257

• 6 · Compensation of disqualified persons

  total $522,242 · program services $377,451 · management and general $42,271 · fundraising $102,520

• 7 · Other salaries and wages

  total $34,462,107 · program services $27,935,490 · management and general $4,298,406 · fundraising $2,228,211

• 8 · Pension plan contributions

  total $1,202,630 · program services $983,894 · management and general $177,180 · fundraising $41,556

• 9 · Other employee benefits

  total $6,412,382 · program services $5,039,749 · management and general $1,001,209 · fundraising $371,424

• 10 · Payroll taxes

  total $2,619,659 · program services $1,980,381 · management and general $456,885 · fundraising $182,393

• 11b · Fees: legal

  total $147,604 · management and general $147,318 · fundraising $286

• 11c · Fees: accounting

  total $240,333 · management and general $240,333

• 11f · Fees: investment management

  total $4,233,597 · management and general $4,233,597

• 11g · Fees: other

  total $5,942,930 · program services $4,271,668 · management and general $1,547,926 · fundraising $123,336

• 12 · Advertising and promotion

  total $650,636 · program services $397,191 · management and general $46,206 · fundraising $207,239

• 13 · Office expenses

  total $512,731 · program services $104,474 · management and general $299,800 · fundraising $108,457

• 14 · Information technology

  total $2,691,685 · program services $470,093 · management and general $2,184,481 · fundraising $37,111

• 16 · Occupancy

  total $2,642,930 · program services $2,530,382 · management and general $103,982 · fundraising $8,566

• 17 · Travel

  total $4,206,545 · program services $3,769,462 · management and general $198,396 · fundraising $238,687

• 19 · Conferences, conventions and meetings

  total $244,298 · program services $199,963 · management and general $38,308 · fundraising $6,027

• 20 · Interest

  total $886,707 · program services $677,093 · management and general $165,942 · fundraising $43,672

• 22 · Depreciation, depletion and amortization

  total $8,796,767 · program services $8,426,257 · management and general $340,430 · fundraising $30,080

• 23 · Insurance

  total $1,582,372 · program services $1,518,373 · management and general $57,934 · fundraising $6,065

• 24a · Other expenses: SUPPLIES and EQUIPMENT

  total $2,325,269 · program services $2,140,525 · management and general $133,365 · fundraising $51,379

• 24b · Other expenses: FOOD

  total $2,055,059 · program services $1,976,580 · management and general $53,085 · fundraising $25,394

• 24c · Other expenses: BAD DEBT

  total $504,951 · program services $264,773 · management and general $240,178 · fundraising $0

• 24d · Other expenses: Taxes & Licenses

  total $405,607 · program services $246,152 · management and general $128,000 · fundraising $31,455

• 24e · All other expenses

  total $888,346 · program services $607,796 · management and general $225,202 · fundraising $55,348

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $7,830,610 · end of year $9,919,027

• 3 · Pledges and grants receivable

  beginning of year $7,614,400 · end of year $1,035,044

• 4 · Accounts receivable

  beginning of year $293,496 · end of year $356,445

• 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 $7,299,953 · end of year $6,691,162

• 8 · Inventories for sale or use

  beginning of year $239,150 · end of year $183,549

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,613,668 · end of year $1,229,297

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

  $339,710,160

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

  $161,308,475

• 10c · Land, buildings and equipment, net

  beginning of year $172,236,272 · end of year $178,401,685

• 11 · Investments: publicly traded securities

  beginning of year $300,574,282 · end of year $253,573,696

• 12 · Investments: other securities

  beginning of year $583,803,882 · end of year $647,637,555

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $40,269,205 · end of year $39,213,241

• 17 · Accounts payable and accrued expenses

  beginning of year $7,661,338 · end of year $5,394,108

• 20 · Tax-exempt bond liabilities

  beginning of year $13,612,336 · end of year $12,872,258

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $17,333,334 · end of year $16,000,001

• 25 · Other liabilities

  beginning of year $28,335,367 · end of year $25,037,264

• 27 · Net assets without donor restrictions

  beginning of year $320,013,868 · end of year $331,600,762

• 28 · Net assets with donor restrictions

  beginning of year $734,818,675 · end of year $747,336,308

The filer's explanations (Part III)

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

THE RESIDENCES PROVIDED TO THE CHIEF EXECUTIVE, COLLEGE PRESEIDENT, AND HEAD OF SCHOOL ARE ALSO USED TO HOST STUDENT ACTIVITIES AND MEETINGS. THE COLLEGE PRESIDENT DID NOT RESIDE IN COLLEGE-PROVIDED HOUSING DURING FY 2023. THE HEAD OF SCHOOL LIVED ON CAMPUS, AS DID THE CHIEF EXECUTIVE AND ACTING CHIEF EXECUTIVE, IN ORDER TO FULFILL THEIR DUTIES. THE ESTIMATED VALUES OF THESE BENEFITS IS INCLUDED IN COLUMN D OF PART II AND WERE NOT TREATED AS TAXABLE COMPENSATION TO THE RESPECTIVE PARTIES.

Schedule J, Part I, Line 1a Personal services

THE FACILITIES DEPARTMENT PROVIDES HOUSEKEEPING SERVICES AT THE PRESIDENT AND HEAD OF SCHOOL RESIDENCES, SINCE THESE LOCATIONS ARE USED TO HOST STUDENT ACTIVITIES AND MEETINGS, AS WELL AS EMPLOYEE AND DONOR EVENTS. THE ESTIMATED VALUES OF SUCH SERVICES ARE INCLUDED IN COLUMN D OF PART II AND WERE NOT TREATED AS TAXABLE COMPENSATION TO THE RECIPIENTS.

Schedule J, Part I, Line 4a Severance or change-of-control payment

IN CALENDAR YEAR 2021, PRINCIPIA OFFERED CERTAIN EMPLOYEES WHO MET SPECIFIED CRITERIA VOLUNTARY EARLY RETIREMENT PACKAGES THAT INCLUDED MONETARY INCENTIVES. OVER 20 EMPLOYEES ACCEPTED THE PACKAGES, INCLUDING 5 WHO WERE PAID SEVERANCE IN CALENDAR year 2022 as reported in Schedule J, Part II. Amounts applicable to these individuals are as follows: William B Stock - $92,737 Duncan Martin - $92,309 One individual (Peter Dry) listed in Part VII, Section A, received cash payments in connection with a severance agreement entered into in 2021. Such amounts are included in Sch J, column B(iii) "Other reportable compensation, are as follows: $90,000 in calendar year 2021 and $90,000 in calendar year 2022.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• PRINCIPIA HOLDINGS LLC

  INVESTING · MO · income $0 · assets $0

  Directly controlled by PRINCIPIA CORPORATION

Related corporations and trusts

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

• CHARITABLE LEAD TRUST (5)

  Trust · CHARITABLE LEAD TRUST TO BENEFIT PRINCIPIA · controlled entity

  Directly controlled by NA

• PERPETUAL TRUSTS (5)

  Trust · PERPETUAL TRUSTS TO BENEFIT PRINCIPIA · controlled entity

  Directly controlled by NA

• CHARITABLE REMAINDER TRUSTS (41)

  Trust · CHARITABLE REMAINDER TRUSTS TO BENEFIT PRINCIPIA · controlled entity

  Directly controlled by NA

• NON-CHARITABLE TRUSTS (2)

  Trust · TRUST CREATED BY BEQUEST TO BENEFIT PRINCIPIA · controlled entity

  Directly controlled by NA

• POOLED INCOME FUNDS (32)

  Trust · POOLED INCOME FUND TO BENEFIT PRINCIPIA · controlled entity

  Directly controlled by NA

• PRINCIPIA ADMINISTRATIVE CORPORATION

  C Corporation · APPOINTMENT OF RELATED ORGANIZATIONS' BOARD MEMBERS · MO