Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $45,210

• 1d · Related organizations

  $1,119,708

• 1e · Government grants (contributions)

  $2,341,631

• 1f · All other contributions, gifts and grants

  $5,649,636

• 1g · Noncash contributions included above

  $112,575

• 2a · Program service revenue: TUITION

  total $66,902,968 · related or exempt $66,902,968

• 2b · Program service revenue: ROOM AND BOARD

  total $6,181,404 · related or exempt $6,181,404

• 2c · Program service revenue: OTHER REVENUE AND STUDENT SERVICE

  total $3,285,977 · related or exempt $3,285,977

• 2d · Program service revenue: EARLY CHILDHOOD CENTER

  total $3,200,349 · related or exempt $3,200,349

• 2e · Program service revenue: CONVENTIONS AND OTHER EVENTS

  total $255,673 · related or exempt $255,673

• 2f · All other program service revenue

  total $60,836 · related or exempt $60,836

• 3 · Investment income

  total $32,676 · excluded $32,676

• 6a · Gross rents

  real property $527,542

• 6b · Less rental expenses

  real property $471,301

• 6c · Rental income or loss

  real property $56,241

• 6d · Net rental income or loss

  total $56,241 · excluded $56,241

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

  other assets $15,039

• 7c · Gain or loss

  other assets -$15,039

• 7d · Net gain or loss

  total -$15,039 · excluded -$15,039

• 8a · Fundraising events: gross income

  $8,328

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

  $45,210

• 8b · Fundraising events: direct expenses

  $54,925

• 8c · Net income from fundraising events

  total -$46,597 · excluded -$46,597

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $19,759,543 · program services $19,759,543

• 5 · Compensation of officers, directors and key employees

  total $1,625,186 · program services $913,311 · management and general $466,189 · fundraising $245,686

• 7 · Other salaries and wages

  total $27,532,745 · program services $23,333,328 · management and general $3,421,070 · fundraising $778,347

• 8 · Pension plan contributions

  total $1,299,947 · program services $1,094,295 · management and general $163,222 · fundraising $42,430

• 9 · Other employee benefits

  total $3,508,475 · program services $2,890,451 · management and general $479,241 · fundraising $138,783

• 10 · Payroll taxes

  total $1,846,508 · program services $1,507,505 · management and general $258,330 · fundraising $80,673

• 11b · Fees: legal

  total $222,693 · management and general $222,693

• 11c · Fees: accounting

  total $118,256 · management and general $118,256

• 11g · Fees: other

  total $15,234,064 · program services $14,715,946 · management and general $436,420 · fundraising $81,698

• 13 · Office expenses

  total $650,525 · program services $575,169 · management and general $53,407 · fundraising $21,949

• 14 · Information technology

  total $2,141,578 · program services $1,475,178 · management and general $531,189 · fundraising $135,211

• 16 · Occupancy

  total $3,721,803 · program services $3,407,895 · management and general $292,392 · fundraising $21,516

• 17 · Travel

  total $962,829 · program services $859,089 · management and general $42,783 · fundraising $60,957

• 20 · Interest

  total $1,624,786 · program services $1,540,678 · management and general $66,417 · fundraising $17,691

• 22 · Depreciation, depletion and amortization

  total $3,636,579 · program services $3,505,581 · management and general $90,745 · fundraising $40,253

• 23 · Insurance

  total $716,776 · program services $149,397 · management and general $567,379

• 24a · Other expenses: CREDIT LOSS EXPENSE

  total $1,076,656 · management and general $879,315 · fundraising $197,341

• 24b · Other expenses: OTHER EXPENSES

  total $829,260 · program services $549,327 · management and general $231,112 · fundraising $48,821

• 24c · Other expenses: STUDY ABROAD PROGRAM

  total $30,932 · program services $30,932

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $245,125 · end of year $187,876

• 3 · Pledges and grants receivable

  beginning of year $4,848,542 · end of year $3,653,422

• 4 · Accounts receivable

  beginning of year $8,600,288 · end of year $8,325,640

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,890,355 · end of year $2,616,845

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

  $100,935,096

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

  $43,776,380

• 10c · Land, buildings and equipment, net

  beginning of year $58,469,419 · end of year $57,158,716

• 11 · Investments: publicly traded securities

  beginning of year $205,750 · end of year $1,668,437

• 15 · Other assets

  beginning of year $4,379,159 · end of year $4,296,277

• 17 · Accounts payable and accrued expenses

  beginning of year $5,978,971 · end of year $5,068,898

• 18 · Grants payable

  end of year $4,947,261

• 19 · Deferred revenue

  beginning of year $5,013,305

• 20 · Tax-exempt bond liabilities

  beginning of year $7,472,609 · end of year $6,323,937

• 23 · Secured mortgages and notes payable

  beginning of year $36,199,962 · end of year $34,320,639

• 25 · Other liabilities

  beginning of year $315,780 · end of year $344,695

• 27 · Net assets without donor restrictions

  beginning of year $18,565,671 · end of year $18,099,641

• 28 · Net assets with donor restrictions

  beginning of year $6,092,340 · end of year $8,802,142

The filer's explanations (Part III)

PART I, LINE 1A

THE PRESIDENT IS PROVIDED WITH A PRIVATE RESIDENCE ALONG THE BORDER OF CAMPUS AS A CONDITION OF EMPLOYMENT. THE MAIN FLOOR LIVING AREAS ARE USED FOR VARIOUS UNIVERSITY FUNCTIONS THROUGHOUT THE YEAR, SUCH AS HOSTING RECEPTIONS FOR THE BOARD OF REGENTS OR SMALLER STUDENT GROUPS. THIS BENEFIT IN NONTAXABLE. THE PRESIDENT WAS REIMBURSED $1395 FOR UNIVERSITY CLUB OF CHICAGO DUES IN JULY 2024, WHICH WAS INCLUDED ON HIS W-2 FOR 2024.

PART I, LINE 4A

GWEN KANELOS RECEIVED A SEVERANCE PAYMENT OF $78,731.