Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $279,796

• 1e · Government grants (contributions)

  $1,736,997

• 1f · All other contributions, gifts and grants

  $8,968,878

• 1g · Noncash contributions included above

  $1,282,072

• 2a · Program service revenue: TUITION AND FEES

  total $81,959,276 · related or exempt $81,959,276

• 2b · Program service revenue: RESIDENCE HALLS

  total $8,136,128 · related or exempt $8,136,128

• 2c · Program service revenue: ACADEMIC RELATED REVENUE

  total $2,226,415 · related or exempt $2,226,415

• 2d · Program service revenue: DINING SERVICES

  total $378,725 · related or exempt $378,725

• 3 · Investment income

  total $6,673,124 · unrelated business $9,234 · excluded $6,663,890

• 5 · Royalties

  total $23,216 · excluded $23,216

• 6a · Gross rents

  real property $675,428

• 6b · Less rental expenses

  real property $615,674

• 6c · Rental income or loss

  real property $59,754

• 6d · Net rental income or loss

  total $59,754 · unrelated business $26,735 · excluded $33,019

• 7a · Gross sales of assets other than inventory

  securities $43,098,988 · other assets $1,524,889

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

  securities $43,776,007 · other assets $285,514

• 7c · Gain or loss

  securities -$677,019 · other assets $1,239,375

• 7d · Net gain or loss

  total $562,356 · excluded $562,356

• 8a · Fundraising events: gross income

  $65,555

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

  $279,796

• 8b · Fundraising events: direct expenses

  $91,063

• 8c · Net income from fundraising events

  total -$25,508 · excluded -$25,508

• 11a · Other revenue: OUTSIDE COUNSELING

  total $831,613 · excluded $831,613

• 11b · Other revenue: CONTRACTS

  total $524,759 · excluded $524,759

• 11c · Other revenue: LATE PAYMENT FEE

  total $285,404 · excluded $285,404

• 11d · All other revenue

  total $737,394 · unrelated business $13,705 · excluded $723,689

• 11e · Other revenue, total

  $2,379,170

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $37,893,900 · program services $37,893,900

• 5 · Compensation of officers, directors and key employees

  total $3,135,813 · program services $339,847 · management and general $2,795,966

• 7 · Other salaries and wages

  total $40,572,376 · program services $33,811,480 · management and general $6,647,212 · fundraising $113,684

• 8 · Pension plan contributions

  total $429,113 · program services $370,434 · management and general $30,233 · fundraising $28,446

• 9 · Other employee benefits

  total $5,344,037 · program services $4,366,796 · management and general $644,701 · fundraising $332,540

• 10 · Payroll taxes

  total $3,193,588 · program services $2,510,863 · management and general $492,899 · fundraising $189,826

• 11b · Fees: legal

  total $1,479,735 · management and general $1,479,735

• 11c · Fees: accounting

  total $161,030 · management and general $161,030

• 11f · Fees: investment management

  total $239,113 · management and general $239,113

• 11g · Fees: other

  total $5,806,773 · program services $3,256,344 · management and general $2,150,353 · fundraising $400,076

• 12 · Advertising and promotion

  total $1,069,806 · program services $534,903 · management and general $534,903

• 13 · Office expenses

  total $1,811,920 · program services $1,325,810 · management and general $231,668 · fundraising $254,442

• 14 · Information technology

  total $3,423,570 · program services $2,999,190 · management and general $409,894 · fundraising $14,486

• 16 · Occupancy

  total $1,032,545 · program services $991,669 · management and general $40,876

• 17 · Travel

  total $2,044,532 · program services $1,799,272 · management and general $52,976 · fundraising $192,284

• 19 · Conferences, conventions and meetings

  total $1,284,679 · program services $1,049,355 · management and general $108,284 · fundraising $127,040

• 20 · Interest

  total $7,220,493 · program services $6,369,147 · management and general $851,346

• 22 · Depreciation, depletion and amortization

  total $6,976,298 · program services $6,341,840 · management and general $634,458

• 23 · Insurance

  total $2,207,053 · program services $82,859 · management and general $2,124,194

• 24a · Other expenses: BAD DEBT EXPENSE

  total $1,110,540 · management and general $1,110,540

• 24b · Other expenses: BOOKS AND SUBSCRIPTIONS

  total $523,849 · program services $512,211 · management and general $11,638

• 24c · Other expenses: REPAIRS AND MAINTENANCE

  total $467,009 · program services $467,009

• 24d · Other expenses: EQUIPMENT RENTAL

  total $232,226 · program services $121,455 · management and general $94,180 · fundraising $16,591

• 24e · All other expenses

  total $8,899,726 · program services $7,642,754 · management and general $1,033,112 · fundraising $223,860

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $14,322 · end of year $12,767

• 2 · Savings and temporary cash investments

  beginning of year $4,097,968 · end of year $14,814,956

• 3 · Pledges and grants receivable

  beginning of year $5,939,292 · end of year $6,413,225

• 4 · Accounts receivable

  beginning of year $5,441,837 · end of year $5,437,725

• 7 · Other notes and loans receivable

  beginning of year $270,215 · end of year $25,309

• 8 · Inventories for sale or use

  beginning of year $20,270 · end of year $3,145

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,496,821 · end of year $2,099,982

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

  $323,472,260

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

  $186,801,488

• 10c · Land, buildings and equipment, net

  beginning of year $136,984,100 · end of year $136,670,772

• 11 · Investments: publicly traded securities

  beginning of year $63,717,267 · end of year $57,299,445

• 12 · Investments: other securities

  beginning of year $1,033,805 · end of year $702,105

• 15 · Other assets

  beginning of year $23,760,757 · end of year $11,563,156

• 17 · Accounts payable and accrued expenses

  beginning of year $15,216,636 · end of year $10,966,988

• 19 · Deferred revenue

  beginning of year $5,944,443 · end of year $6,232,806

• 20 · Tax-exempt bond liabilities

  beginning of year $139,562,564 · end of year $139,493,359

• 23 · Secured mortgages and notes payable

  end of year $17,500,000

• 25 · Other liabilities

  beginning of year $3,752,927 · end of year $3,485,142

• 27 · Net assets without donor restrictions

  beginning of year $5,108,681 · end of year -$14,945,596

• 28 · Net assets with donor restrictions

  beginning of year $74,191,403 · end of year $72,309,888

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING ALLOWANCE IN THE AMOUNT OF $59,770 WAS PAID TO DANIEL J. ALLEN, PH.D., PRESIDENT. THIS AMOUNT IS INCLUDED IN TAXABLE INCOME AND REPORTED AS PART OF SCHEDULE J, PART II, COLUMN (B)(III). THE PRESIDENT'S CLUB DUES AT THE UNION LEAGUE ARE PAID BY THE UNIVERSITY AND ARE NOT INCLUDED IN TAXABLE INCOME. THE CLUB IS USED SOLELY FOR UNIVERSITY BUSINESS.

PART I, LINE 4A

ASHLEY HOWARD, FORMER MEN'S BASKETBALL COACH, RECEIVED SEVERANCE OF $378,717. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B) (III).

PART I, LINE 7

A VARIABLE PAY BONUS IN THE AMOUNT OF $25,000 WAS PAID TO DANIEL J. ALLEN, PH.D., PRESIDENT. THIS BONUS IS UP TO 30% OF DR. ALLEN'S BASE SALARY. PAYMENT OF THIS BONUS IS UP TO THE SOLE DISCRETION OF THE BOARD OF TRUSTEES.

PART I, LINE 8

COMPENSATION FOR THESE EMPLOYEES IS SUBJECT TO AN INITIAL WRITTEN EMPLOYMENT AGREEMENT AS NOTED: DANIEL J. ALLEN, PH.D, PRESIDENT - EFFECTIVE 4/18/2022 - 5/31/2027 MARK ENGBERG, PH.D., SECRETARY, CHIEF OF STAFF - EFFECTIVE 8/8/2022 STEPHEN LIGHTCAP, ED.D., TREASURER, VP FINANCE & ADMINISTRATION - EFFECTIVE 04/17/2023 ASHWIN PURI, VP ATHLETICS AND RECREATION - EFFECTIVE 7/26/2023 ALISA L. MACKSEY, VP MISSION DIVERSITY & INCLUSION - EFFECTIVE 7/25/2022 CAMERON B. WESSON, INTERIM VP ACADEMIC AFFAIRS - EFFECTIVE 6/20/2023 GREG J. NAYOR, VP ENROLLMENT MANAGEMENT - EFFECTIVE 10/2/2023 FREDERICK A. PETTIT, VP UNIVERSITY ADVANCEMENT - EFFECTIVE 11/16/2023 KRISTIN HEASLEY, VP HUMAN RESOURCES - EFFECTIVE 4/12/2021 GABRIELLE ST. LEGER, VP STUDENT DEVEL & CAMPUS LIFE - EFFECTIVE 7/6/2021

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• POOLED INCOME FUND (1)

  POOLED INCOME FUND · PA · controlled entity

  Directly controlled by LA SALLE UNIVERSITY