Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $0

• 1e · Government grants (contributions)

  $1,282,519

• 1f · All other contributions, gifts and grants

  $1,550,641

• 1g · Noncash contributions included above

  $66,868

• 2a · Program service revenue: Auxiliary Services

  total $3,166,500 · excluded $3,166,500

• 2b · Program service revenue: Tuition and Fees

  total $16,478,807 · related or exempt $16,478,807

• 3 · Investment income

  total $1,412,174 · excluded $1,412,174

• 11a · Other revenue: Other Revenues

  total $310,353 · related or exempt $310,353

• 11e · Other revenue, total

  $310,353

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $10,429,409 · program services $10,429,409

• 5 · Compensation of officers, directors and key employees

  total $802,889 · program services $446,417 · management and general $356,472

• 7 · Other salaries and wages

  total $5,509,881 · program services $5,134,639 · management and general $206,538 · fundraising $168,704

• 8 · Pension plan contributions

  total $257,938 · program services $238,290 · management and general $10,140 · fundraising $9,508

• 9 · Other employee benefits

  total $1,658,413 · program services $1,558,908 · management and general $66,337 · fundraising $33,168

• 10 · Payroll taxes

  total $475,411 · program services $446,887 · management and general $19,016 · fundraising $9,508

• 11b · Fees: legal

  total $2,640 · management and general $2,640

• 11c · Fees: accounting

  total $48,900 · management and general $48,900

• 11f · Fees: investment management

  total $110,000 · management and general $110,000

• 12 · Advertising and promotion

  total $153,633 · program services $153,633

• 13 · Office expenses

  total $2,251,604 · program services $2,084,674 · management and general $94,281 · fundraising $72,649

• 14 · Information technology

  total $362,169 · program services $362,169

• 16 · Occupancy

  total $2,482,411 · program services $2,420,103 · management and general $34,009 · fundraising $28,299

• 17 · Travel

  total $340,728 · program services $320,284 · management and general $13,629 · fundraising $6,815

• 20 · Interest

  total $279,957 · program services $279,957

• 22 · Depreciation, depletion and amortization

  total $1,453,508 · program services $1,366,298 · management and general $58,140 · fundraising $29,070

• 23 · Insurance

  total $174,421 · program services $166,118 · management and general $7,069 · fundraising $1,234

• 24a · Other expenses: Food Service

  total $1,030,000 · program services $1,030,000

• 24b · Other expenses: Memberships

  total $182,786 · program services $172,893 · management and general $7,359 · fundraising $2,534

• 24c · Other expenses: Custodial Services

  total $507,018 · program services $477,520 · management and general $20,320 · fundraising $9,178

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,735 · end of year $2,832

• 2 · Savings and temporary cash investments

  beginning of year $1,516,601 · end of year $1,074,235

• 3 · Pledges and grants receivable

  beginning of year $750,328 · end of year $365,971

• 4 · Accounts receivable

  beginning of year $180,873 · end of year $104,745

• 7 · Other notes and loans receivable

  beginning of year $317,485 · end of year $528,910

• 8 · Inventories for sale or use

  beginning of year $27,694 · end of year $37,556

• 9 · Prepaid expenses and deferred charges

  beginning of year $71,853 · end of year $285,822

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

  $54,747,720

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

  $36,587,806

• 10c · Land, buildings and equipment, net

  beginning of year $19,279,555 · end of year $18,159,914

• 11 · Investments: publicly traded securities

  beginning of year $22,314,050 · end of year $20,274,720

• 12 · Investments: other securities

  beginning of year $145,738 · end of year $145,738

• 17 · Accounts payable and accrued expenses

  beginning of year $1,035,445 · end of year $1,064,819

• 19 · Deferred revenue

  beginning of year $132,516 · end of year $184,910

• 24 · Unsecured notes and loans payable

  beginning of year $6,231,046 · end of year $5,700,028

• 25 · Other liabilities

  beginning of year $415,198 · end of year $584,206

• 27 · Net assets without donor restrictions

  beginning of year $14,873,922 · end of year $12,669,892

• 28 · Net assets with donor restrictions

  beginning of year $21,918,785 · end of year $20,776,588

Itemized on Schedule J with no Part VII listing of the same name on this return:

The filer's explanations (Part III)

Part , Line a

The president of the college is required by contract to live in the college owned property and to entertain, faculty, staff board members, donors, students, perspective students & their families, business leaders , etc. Cleaning services are provided by the college for the owned home used for college purposes, A fair market value for the home has been added to the president's non-taxable benefits.