Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $543,349

• 1e · Government grants (contributions)

  $17,530,337

• 1f · All other contributions, gifts and grants

  $31,699,741

• 1g · Noncash contributions included above

  $5,153,230

• 2a · Program service revenue: TUITION AND FEES

  total $444,221,839 · related or exempt $444,221,839

• 2b · Program service revenue: STUDENT ROOM & BOARD

  total $53,177,620 · related or exempt $53,177,620

• 2c · Program service revenue: BOOKSTORE

  total $4,951,004 · related or exempt $4,918,856 · unrelated business $32,148

• 2d · Program service revenue: PARKING SERVICES

  total $3,339,321 · related or exempt $3,339,321

• 2e · Program service revenue: STUDENT LOAN INTEREST

  total $755,726 · related or exempt $755,726

• 3 · Investment income

  total $10,655,092 · unrelated business $1,864,075 · excluded $8,791,017

• 6a · Gross rents

  real property $1,369,370

• 6b · Less rental expenses

  real property $738,592

• 6c · Rental income or loss

  real property $630,778

• 6d · Net rental income or loss

  total $630,778 · excluded $630,778

• 7a · Gross sales of assets other than inventory

  securities $422,714,899 · other assets $54,904,052

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

  securities $377,128,776 · other assets $57,735,611

• 7c · Gain or loss

  securities $45,586,123 · other assets -$2,831,559

• 7d · Net gain or loss

  total $42,754,564 · excluded $42,754,564

• 8a · Fundraising events: gross income

  $207,098

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

  $543,349

• 8b · Fundraising events: direct expenses

  $188,160

• 8c · Net income from fundraising events

  total $18,938 · excluded $18,938

• 11a · Other revenue: ATHLETICS & RECREATION

  total $3,482,991 · related or exempt $2,912,500 · unrelated business $570,491

• 11b · Other revenue: SUMMER CONFERENCES

  total $1,553,059 · related or exempt $777,698 · unrelated business $775,361

• 11c · Other revenue: JCP EVENTS

  total $1,177,788 · related or exempt $1,064,729 · unrelated business $113,059

• 11d · All other revenue

  total $5,717,118 · related or exempt $4,608,359 · unrelated business $1,108,759

• 11e · Other revenue, total

  $11,930,956

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $185,431,037 · program services $185,431,037

• 5 · Compensation of officers, directors and key employees

  total $8,030,679 · program services $4,386,180 · management and general $2,361,628 · fundraising $1,282,871

• 6 · Compensation of disqualified persons

  total $535,881 · program services $397,212 · management and general $124,284 · fundraising $14,385

• 7 · Other salaries and wages

  total $201,713,928 · program services $149,516,699 · management and general $46,782,334 · fundraising $5,414,895

• 8 · Pension plan contributions

  total $17,494,780 · program services $12,283,377 · management and general $4,453,741 · fundraising $757,662

• 9 · Other employee benefits

  total $28,622,371 · program services $20,096,244 · management and general $7,997,056 · fundraising $529,071

• 10 · Payroll taxes

  total $14,243,688 · program services $10,000,731 · management and general $3,626,093 · fundraising $616,864

• 11b · Fees: legal

  total $619,854 · management and general $619,854

• 11c · Fees: accounting

  total $425,680 · management and general $425,680

• 11d · Fees: lobbying

  total $170,071 · management and general $170,071

• 11f · Fees: investment management

  total $2,151,651 · program services $1,893,453 · management and general $258,198

• 11g · Fees: other

  total $37,271,888 · program services $22,836,797 · management and general $13,303,473 · fundraising $1,131,618

• 12 · Advertising and promotion

  total $5,669,230 · program services $5,384,671 · management and general $222,878 · fundraising $61,681

• 13 · Office expenses

  total $8,063,486 · program services $4,379,333 · management and general $3,332,738 · fundraising $351,415

• 14 · Information technology

  total $6,626,862 · program services $3,976,117 · management and general $2,650,745

• 16 · Occupancy

  total $14,681,215 · program services $14,110,267 · management and general $394,787 · fundraising $176,161

• 17 · Travel

  total $12,930,984 · program services $10,246,180 · management and general $2,491,779 · fundraising $193,025

• 19 · Conferences, conventions and meetings

  total $1,137,569 · program services $842,642 · management and general $270,081 · fundraising $24,846

• 20 · Interest

  total $7,516,151 · program services $7,015,458 · management and general $500,693

• 22 · Depreciation, depletion and amortization

  total $22,390,590 · program services $13,702,933 · management and general $8,475,649 · fundraising $212,008

• 23 · Insurance

  total $2,989,793 · program services $216,423 · management and general $2,773,370

• 24a · Other expenses: FOOD SERVICE

  total $6,308,966 · program services $6,308,966

• 24b · Other expenses: BOOKS AND PERIODICALS

  total $3,911,598 · program services $3,708,848 · management and general $202,750

• 24c · Other expenses: BOOKSTORE/PRINT SHOP

  total $3,778,835 · program services $3,778,835

• 24d · Other expenses: EQUIPMENT

  total $3,081,893 · program services $1,783,226 · management and general $1,240,460 · fundraising $58,207

• 24e · All other expenses

  total $12,817,312 · program services $12,203,437 · fundraising $613,875

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $502,529 · end of year $2,282,968

• 2 · Savings and temporary cash investments

  beginning of year $9,626,758 · end of year $9,022,395

• 3 · Pledges and grants receivable

  beginning of year $50,432,218 · end of year $45,171,211

• 4 · Accounts receivable

  beginning of year $18,896,837 · end of year $24,171,237

• 5 · Loans and receivables from officers and key people

  beginning of year $564,000 · end of year $406,000

• 7 · Other notes and loans receivable

  beginning of year $39,425,372 · end of year $27,415,754

• 8 · Inventories for sale or use

  beginning of year $2,166,090 · end of year $2,529,716

• 9 · Prepaid expenses and deferred charges

  beginning of year $5,639,199 · end of year $7,046,070

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

  $1,042,544,747

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

  $272,242,460

• 10c · Land, buildings and equipment, net

  beginning of year $725,585,283 · end of year $770,302,287

• 11 · Investments: publicly traded securities

  beginning of year $599,627,527 · end of year $359,470,710

• 12 · Investments: other securities

  beginning of year $314,576,539 · end of year $555,398,435

• 15 · Other assets

  beginning of year $861,049 · end of year $19,745,987

• 17 · Accounts payable and accrued expenses

  beginning of year $55,870,693 · end of year $64,349,566

• 19 · Deferred revenue

  beginning of year $12,364,895 · end of year $20,743,552

• 20 · Tax-exempt bond liabilities

  beginning of year $144,927,875 · end of year $143,269,873

• 23 · Secured mortgages and notes payable

  beginning of year $122,400,526 · end of year $121,672,466

• 25 · Other liabilities

  beginning of year $17,517,638 · end of year $23,380,295

• 27 · Net assets without donor restrictions

  beginning of year $940,965,052 · end of year $945,607,246

• 28 · Net assets with donor restrictions

  beginning of year $473,856,722 · end of year $503,939,772

The filer's explanations (Part III)

PART I, LINE 1A

SCHEDULE J, PART I, LINE 1A: TRAVEL FOR COMPANIONS - THE UNIVERSITY PROVIDES FOR THE PRESIDENT'S SPOUSE TO TRAVEL WITH HIM WHEN HER PRESENCE IS REQUIRED FOR UNIVERSITY BUSINESS PURPOSES. NO PART OF THIS BENEFIT IS TREATED AS TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 1A: HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE - THE PRESIDENT IS PROVIDED ON CAMPUS HOUSING AND IT IS RECORDED AS A NON-TAXABLE BENEFIT. THE VICE PRESIDENT FOR MISSION AND MINISTRY IS PROVIDED ON CAMPUS HOUSING AND IT IS RECORDED AS A NON-TAXABLE BENEFIT. THE VALUE OF THESE BENEFITS ARE REPORTED IN "NONTAXABLE BENEFITS" ON SCHEDULE J, PART II, COLUMN D. PRESIDENT HARRIS OCCUPIED THE RESIDENCE FOR ALL OF FISCAL YEAR 2024. SCHEDULE J, PART I, LINE 1A: PERSONAL SERVICES - THE PRESIDENT WAS PROVIDED HOUSEKEEPING AND FACILITIES MAINTENANCE SERVICES FOR THE PRESIDENT'S ON-CAMPUS RESIDENCE. NO PART OF THE BENEFIT WAS TREATED AS TAXABLE COMPENSATION. THE VALUE OF THIS BENEFIT IS REPORTED IN "NONTAXABLE BENEFITS" ON SCHEDULE J, PART II, COLUMN D.

PART I, LINES 4A-B

SCHEDULE J, PART I, LINE 4A: WILLIAM MCGILLIS, HIGHEST COMPENSATED EMPLOYEE, RECEIVED SEVERANCE IN THE AMOUNT OF $59,896. SCHEDULE J, PART I, LINE 4B: JAMES HARRIS III, PRESIDENT, PARTICIPATED IN A 457(F) PLAN. NO CONTRIBUTIONS OR DISTRIBUTIONS WERE MADE FOR 2023. KY SNYDER, OFFICER, PARTICIPATED IN A 457(F) PLAN. CONTRIBUTIONS WERE MADE IN THE AMOUNT OF $30,000 FOR 2023. NO DISTRIBUTIONS WERE MADE FOR 2023. GAIL BAKER, OFFICER, PARTIICPATED IN A 457(F) PLAN. CONTRIBUTIONS WERE MADE IN THE AMOUNT OF $30,000 FOR 2023. NO DISTRIBUTIONS WERE MADE FOR 2023. KATY ROIG, OFFICER, PARTIICPATED IN A 457(F) PLAN. CONTRIBUTIONS WERE MADE IN THE AMOUNT OF $30,000 FOR 2023. NO DISTRIBUTIONS WERE MADE FOR 2023. RICHARD VIRGIN, OFFICER, PARTIICPATED IN A 457(F) PLAN. CONTRIBUTIONS WERE MADE IN THE AMOUNT OF $30,000 FOR 2023. NO DISTRIBUTIONS WERE MADE FOR 2023. CHARLOTTE JOHNSON, OFFICER, PARTIICPATED IN A 457(F) PLAN. CONTRIBUTIONS WERE MADE IN THE AMOUNT OF $20,000 FOR 2023. NO DISTRIBUTIONS WERE MADE FOR 2023. WILLIAM MCGILLIS, HIGHEST COMPENSATED EMPLOYEE, PARTIICPATED IN A 457(F) PLAN. CONTRIBUTIONS WERE MADE IN THE AMOUNT OF $20,000 FOR 2023. NO DISTRIBUTIONS WERE MADE FOR 2023.