Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $952,869

• 1f · All other contributions, gifts and grants

  $406,404

• 1g · Noncash contributions included above

  $4,769

• 2a · Program service revenue: TUITION & FEES

  total $3,224,547 · related or exempt $3,224,547

• 2b · Program service revenue: AUX. ENTERPRISES

  total $121,211 · related or exempt $121,211

• 3 · Investment income

  total $586,210 · excluded $586,210

• 6a · Gross rents

  real property $724,670

• 6b · Less rental expenses

  real property $42,316

• 6c · Rental income or loss

  real property $682,354

• 6d · Net rental income or loss

  total $682,354 · excluded $682,354

• 7a · Gross sales of assets other than inventory

  securities $1,257,658 · other assets $22,088

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

  securities $1,973,656 · other assets $0

• 7c · Gain or loss

  securities -$715,998 · other assets $22,088

• 7d · Net gain or loss

  total -$693,910 · excluded -$693,910

• 11a · Other revenue: LAND PURCHASE OPTION R

  total $4,000,000 · excluded $4,000,000

• 11b · Other revenue: OTHER INCOME

  total $27,232 · excluded $27,232

• 11e · Other revenue, total

  $4,027,232

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $1,407,517 · program services $1,407,517

• 5 · Compensation of officers, directors and key employees

  total $893,220 · program services $62,535 · management and general $566,440 · fundraising $264,245

• 7 · Other salaries and wages

  total $5,372,095 · program services $4,285,273 · management and general $915,679 · fundraising $171,143

• 8 · Pension plan contributions

  total $27,013 · program services $18,809 · management and general $6,366 · fundraising $1,838

• 9 · Other employee benefits

  total $389,251 · program services $285,714 · management and general $86,107 · fundraising $17,430

• 10 · Payroll taxes

  total $515,121 · program services $358,674 · management and general $121,395 · fundraising $35,052

• 11b · Fees: legal

  total $25,708 · management and general $19,476 · fundraising $6,232

• 11c · Fees: accounting

  total $414,056 · management and general $414,056

• 11f · Fees: investment management

  total $81,719 · management and general $81,719

• 11g · Fees: other

  total $2,409,323 · program services $1,389,108 · management and general $925,700 · fundraising $94,515

• 12 · Advertising and promotion

  total $291,737 · program services $253,983 · management and general $22,485 · fundraising $15,269

• 13 · Office expenses

  total $232,628 · program services $173,152 · management and general $45,371 · fundraising $14,105

• 14 · Information technology

  total $319,516 · program services $246,331 · management and general $73,185

• 16 · Occupancy

  total $926,594 · program services $795,684 · management and general $125,216 · fundraising $5,694

• 17 · Travel

  total $30,676 · program services $23,327 · management and general $5,535 · fundraising $1,814

• 20 · Interest

  total $187,348 · program services $177,122 · management and general $10,203 · fundraising $23

• 22 · Depreciation, depletion and amortization

  total $1,785,890 · program services $1,578,046 · management and general $186,716 · fundraising $21,128

• 23 · Insurance

  total $678,436 · program services $456,768 · management and general $218,260 · fundraising $3,408

• 24a · Other expenses: BAD DEBT

  total $176,497 · management and general $176,497

• 24b · Other expenses: MEMBERSHIPS

  total $43,094 · program services $18,044 · management and general $23,588 · fundraising $1,462

• 24c · Other expenses: GRADUATION

  total $30,319 · program services $12,695 · management and general $16,595 · fundraising $1,029

• 24d · Other expenses: STAFF DEVELOPMENT

  total $13,845 · program services $5,797 · management and general $7,578 · fundraising $470

• 24e · All other expenses

  total $13,331 · program services $5,587 · management and general $7,291 · fundraising $453

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,613,495 · end of year $7,132,036

• 2 · Savings and temporary cash investments

  beginning of year $6,574,038 · end of year $122,534

• 3 · Pledges and grants receivable

  beginning of year $12,225 · end of year $196

• 4 · Accounts receivable

  beginning of year $392,571 · end of year $115,960

• 7 · Other notes and loans receivable

  beginning of year $85,076 · end of year $79,797

• 9 · Prepaid expenses and deferred charges

  beginning of year $507,759 · end of year $488,273

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

  $54,657,505

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

  $35,273,584

• 10c · Land, buildings and equipment, net

  beginning of year $21,049,370 · end of year $19,383,921

• 11 · Investments: publicly traded securities

  beginning of year $23,666,808 · end of year $24,826,814

• 12 · Investments: other securities

  end of year $216,868

• 17 · Accounts payable and accrued expenses

  beginning of year $2,779,518 · end of year $885,109

• 19 · Deferred revenue

  beginning of year $8,592,504 · end of year $320,552

• 24 · Unsecured notes and loans payable

  beginning of year $10,350,014 · end of year $14,000,000

• 25 · Other liabilities

  beginning of year $181,942 · end of year $8,001,000

• 27 · Net assets without donor restrictions

  beginning of year $9,545,931 · end of year $5,351,706

• 28 · Net assets with donor restrictions

  beginning of year $22,451,433 · end of year $23,808,032

The filer's explanations (Part III)

PART I, LINE 1A

LIZBETH MARTIN, PRESIDENT, RECEIVED HOUSING ALLOWANCE PROVIDED AS A CONVENIENCE TO THE EMPLOYER/UNIVERSTIY IN THE AMOUNT OF $22,500 DURING THE CALENDAR YEAR 2022. THIS BENEFIT IS EXCLUDED FROM TAXABLE COMPENSATION.

PART I, LINE 4A

ALEX PARNIA, VP - ENROLLMENT MANAGEMENT, RECEIVED A SEVERANCE PAYMENT OF $95,000 DURING THE CALENDAR YEAR 2022.