Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,134,938

• 1f · All other contributions, gifts and grants

  $2,977,829

• 1g · Noncash contributions included above

  $1,510,129

• 2a · Program service revenue: REIMBURSEMENT OF SHARED COST

  total $2,983,270 · related or exempt $2,983,270

• 3 · Investment income

  total $2,048,431 · unrelated business -$881 · excluded $2,049,312

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

  total $0

• 5 · Royalties

  total $0

• 6a · Gross rents

  real property $529,218

• 6b · Less rental expenses

  real property $1,310,508

• 6c · Rental income or loss

  real property -$781,290 · personal property $0

• 6d · Net rental income or loss

  total -$781,290 · unrelated business -$144,683 · excluded -$636,607

• 7a · Gross sales of assets other than inventory

  securities $6,397,589

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

  securities $6,177,474

• 7c · Gain or loss

  securities $220,115

• 7d · Net gain or loss

  total $220,115 · excluded $220,115

• 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: GAIN ON INTEREST RATE SWAP

  total $949,794 · excluded $949,794

• 11b · Other revenue: MISCELLANEOUS INCOME(LOSS)

  total $41,407 · excluded $41,407

• 11e · Other revenue, total

  $991,201

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,510,129 · program services $1,510,129

• 2 · Grants to domestic individuals

  total $0

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $938,972 · program services $654,543 · management and general $1,385 · fundraising $283,044

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $241,813 · program services $166,317 · management and general $425 · fundraising $75,071

• 8 · Pension plan contributions

  total $0

• 9 · Other employee benefits

  total $0

• 10 · Payroll taxes

  total $0

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $0

• 11c · Fees: accounting

  total $0

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $287,513 · management and general $287,513

• 11g · Fees: other

  total $464,925 · program services $427,917 · management and general $1 · fundraising $37,007

• 12 · Advertising and promotion

  total $0

• 13 · Office expenses

  total $20,124 · program services $8,058 · management and general $31 · fundraising $12,035

• 14 · Information technology

  total $48,923 · fundraising $48,923

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $50,709 · program services $35,374 · management and general $184 · fundraising $15,151

• 17 · Travel

  total $13,661 · program services $10,320 · fundraising $3,341

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $1,029 · program services $1,029

• 20 · Interest

  total $540,970 · program services $377,380 · management and general $1,959 · fundraising $161,631

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $1,070,476 · program services $793,623 · management and general $4,119 · fundraising $272,734

• 23 · Insurance

  total $0

• 24a · Other expenses: GIFTS & AWARDS

  total $26,535 · fundraising $26,535

• 24b · Other expenses: PRINTING & PUBLICATION

  total $8,752 · program services $743 · fundraising $8,009

• 24c · Other expenses: HONORARIA/STIPENDS

  total $1,200 · program services $1,200

• 24d · Other expenses: OTHER

  total $32,926 · program services $5,684 · management and general $4,780 · fundraising $22,462

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 $542,050 · end of year $9,151,149

• 3 · Pledges and grants receivable

  beginning of year $379,235 · end of year $169,492

• 4 · Accounts receivable

  beginning of year $96,563 · end of year $149,660

• 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 $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $0 · end of year $4,512

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

  $33,886,774

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

  $21,793,498

• 10c · Land, buildings and equipment, net

  beginning of year $13,683,530 · end of year $12,093,276

• 11 · Investments: publicly traded securities

  beginning of year $85,956,730 · end of year $85,182,764

• 12 · Investments: other securities

  beginning of year $21,731,958 · end of year $19,321,493

• 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 $18,652,866 · end of year $1,356,378

• 17 · Accounts payable and accrued expenses

  beginning of year $428,023 · end of year $199,772

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $104,973 · end of year $84,792

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 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 $13,531,170 · end of year $12,842,811

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $308,440 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $109,373,570 · end of year $96,900,970

• 28 · Net assets with donor restrictions

  beginning of year $17,296,756 · end of year $17,400,379

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

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 3:

THE COMPENSATION OF THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR IS CONTROLLED BY THE POLICIES PUT IN PLACE BY THE COLLEGE, WHICH INCLUDES, BUT NOT LIMITED TO, COMPENSATION COMMITTEE, EMPLOYMENT CONTRACT, AND A SURVEY OR STUDY.

SCHEDULE J, PART I, LINE 4A:

MS. DIEDRA BARKSDALE RECEIVED $150,000 AS SEVERANCE PAYMENT. THE TERMS AND CONDITIONS WERE CONSISTENT WITH INDUSTRY STANDARDS.

SCHEDULE J, PART I, LINE 4B:

MS. DEIDRA BARKSDALE RECEIVED $2,000 FROM 457(F) NONQUALIFIED RETIREMENT PLAN. THE TERMS AND CONDITIONS WERE CONSISTENT WITH INDUSTRY STANDARDS.