Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $1,380,288

• 1g · Noncash contributions included above

  $80,698

• 2a · Program service revenue: ADMISSIONS

  total $29,125,544 · related or exempt $29,125,544

• 2b · Program service revenue: AUXILLARY SERVICES

  total $1,520,991 · related or exempt $1,520,991

• 3 · Investment income

  total $1,158,445 · excluded $1,158,445

• 6a · Gross rents

  real property $21,759

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $21,759

• 6d · Net rental income or loss

  total $21,759 · excluded $21,759

• 7a · Gross sales of assets other than inventory

  securities $509,538 · other assets $17,000

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

  securities $505,176 · other assets $21,857

• 7c · Gain or loss

  securities $4,362 · other assets -$4,857

• 7d · Net gain or loss

  total -$495 · excluded -$495

• 11a · Other revenue: CASH REWARD ON CORPORA

  total $7,000 · excluded $7,000

• 11b · Other revenue: VENDOR PAYMENT PROGRAM

  total $6,795 · excluded $6,795

• 11e · Other revenue, total

  $13,795

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $4,200,662 · program services $4,200,662

• 5 · Compensation of officers, directors and key employees

  total $1,467,672 · program services $31,242 · management and general $1,311,466 · fundraising $124,964

• 7 · Other salaries and wages

  total $13,205,419 · program services $9,562,070 · management and general $3,182,504 · fundraising $460,845

• 8 · Pension plan contributions

  total $752,898 · program services $533,416 · management and general $203,523 · fundraising $15,959

• 9 · Other employee benefits

  total $2,299,851 · program services $1,550,941 · management and general $683,902 · fundraising $65,008

• 10 · Payroll taxes

  total $1,104,641 · program services $724,221 · management and general $345,516 · fundraising $34,904

• 11b · Fees: legal

  total $276,644 · management and general $276,644

• 11c · Fees: accounting

  total $67,540 · management and general $67,540

• 11f · Fees: investment management

  total $58,426 · management and general $58,426

• 11g · Fees: other

  total $483,339 · management and general $470,550 · fundraising $12,789

• 12 · Advertising and promotion

  total $162,612 · management and general $96,773 · fundraising $65,839

• 13 · Office expenses

  total $549,844 · program services $97,636 · management and general $441,248 · fundraising $10,960

• 14 · Information technology

  total $344,334 · program services $344,334

• 16 · Occupancy

  total $2,783,233 · program services $2,304,222 · management and general $432,906 · fundraising $46,105

• 19 · Conferences, conventions and meetings

  total $49,273 · management and general $42,762 · fundraising $6,511

• 20 · Interest

  total $387,467 · program services $327,087 · management and general $50,930 · fundraising $9,450

• 22 · Depreciation, depletion and amortization

  total $2,464,923 · program services $2,093,241 · management and general $329,799 · fundraising $41,883

• 23 · Insurance

  total $502,053 · program services $426,349 · management and general $67,173 · fundraising $8,531

• 24a · Other expenses: AUXILLARY SERVICES

  total $1,476,989 · program services $1,476,989

• 24b · Other expenses: OTHER CURRICULUM

  total $1,106,333 · program services $1,106,333

• 24c · Other expenses: STUDENT ACTIVITIES

  total $625,992 · program services $625,992

• 24d · Other expenses: ATHLETICS

  total $244,939 · program services $244,939

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $25,881 · end of year $16,102

• 2 · Savings and temporary cash investments

  beginning of year $9,405,203 · end of year $8,140,089

• 3 · Pledges and grants receivable

  beginning of year $29,429 · end of year $50,000

• 4 · Accounts receivable

  beginning of year $10,439,056 · end of year $10,831,887

• 9 · Prepaid expenses and deferred charges

  beginning of year $651,545 · end of year $789,496

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

  $58,307,673

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

  $28,628,572

• 10c · Land, buildings and equipment, net

  beginning of year $30,638,796 · end of year $29,679,101

• 11 · Investments: publicly traded securities

  beginning of year $24,087,832 · end of year $27,126,553

• 17 · Accounts payable and accrued expenses

  beginning of year $1,316,394 · end of year $2,004,855

• 19 · Deferred revenue

  beginning of year $24,870,755 · end of year $26,088,895

• 20 · Tax-exempt bond liabilities

  beginning of year $11,783,776 · end of year $11,417,547

• 25 · Other liabilities

  beginning of year $133,187 · end of year $131,623

• 27 · Net assets without donor restrictions

  beginning of year $28,602,145 · end of year $27,770,504

• 28 · Net assets with donor restrictions

  beginning of year $8,571,485 · end of year $9,219,804

The filer's explanations (Part III)

PART I, LINE 1A

ON-CAMPUS HOUSING IS PROVIDED TO THE HEAD OF SCHOOL AND CERTAIN OTHER CRITICAL SCHOOL STAFF AS A REQUIREMENT OF THE POSITIONS AND IS AN EXPECTATION OF EMPLOYMENT. THE BOARD OF TRUSTEES HAS DETERMINED IT IS NECESSARY FOR THESE INDIVIDUALS TO BE AVAILABLE AT ALL TIMES IN ORDER TO BE RESPONSIVE TO THE ONGOING DEMANDS OF AN ACTIVE AND THRIVING CAMPUS COMMUNITY. SOME OF THESE INDIVIDUALS HAVE OVERSIGHT RESPONSIBILITY OF STUDENTS WHO ARE DOMICILED ON CAMPUS HOUSING FACILITIES. THE AMOUNTS FOR THE HOUSING ALLOWANCE AND RELATED HOUSEKEEPING SERVICES WERE INCLUDED IN NON-TAXABLE BENEFITS.

PART I, LINE 7

ERIC F. NILES RECEIVED DISCRETIONARY NON-FIXED BONUS, FOR PERFORMANCE AS THE HEAD OF SCHOOL, IN THE AMOUNT OF $85,000, AND IT IS REFLECTED IN HIS TAXABLE INCOME.