Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $11,970

• 1d · Related organizations

  $15,483,871

• 1e · Government grants (contributions)

  $186,045,785

• 1f · All other contributions, gifts and grants

  $40,472,559

• 1g · Noncash contributions included above

  $5,281,274

• 2a · Program service revenue: TUITION AND FEES

  total $650,476,177 · related or exempt $650,475,092 · unrelated business $1,085

• 2b · Program service revenue: RESEARCH CONTRACTS

  total $284,412,620 · related or exempt $284,412,620

• 2c · Program service revenue: ROOM/BOARD/AUX SERVICE

  total $136,043,903 · related or exempt $131,068,841 · unrelated business $4,975,062

• 2d · Program service revenue: INTRA UNIV. REVENUE

  total $58,708,923 · related or exempt $58,708,923

• 2e · Program service revenue: OTHER PGM REV SOURCES

  total $56,378,988 · related or exempt $52,905,739 · unrelated business $3,473,249

• 3 · Investment income

  total $35,367,610 · unrelated business -$2,640,179 · excluded $38,007,789

• 5 · Royalties

  total $4,980,806 · excluded $4,980,806

• 7a · Gross sales of assets other than inventory

  securities $1,378,889,952 · other assets $35,200

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

  securities $1,320,427,014 · other assets $0

• 7c · Gain or loss

  securities $58,462,938 · other assets $35,200

• 7d · Net gain or loss

  total $58,498,138 · excluded $58,498,138

• 8a · Fundraising events: gross income

  $197,517

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

  $11,970

• 8b · Fundraising events: direct expenses

  $591,157

• 8c · Net income from fundraising events

  total -$393,640 · excluded -$393,640

• 9a · Gaming: gross income

  $29,620

• 9b · Gaming: direct expenses

  $16,442

• 9c · Net income from gaming

  total $13,178 · excluded $13,178

• 11a · Other revenue: INVESTMENT IN SUBS

  total -$3,366,776 · excluded -$3,366,776

• 11e · Other revenue, total

  -$3,366,776

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $50,293,157 · program services $50,293,157

• 2 · Grants to domestic individuals

  total $190,488,380 · program services $190,488,380

• 3 · Grants to foreign organizations and individuals

  total $20,826,179 · program services $20,826,179

• 5 · Compensation of officers, directors and key employees

  total $10,341,449 · program services $1,300,117 · management and general $8,202,684 · fundraising $838,648

• 6 · Compensation of disqualified persons

  total $2,439,852 · program services $747,254 · management and general $1,692,598

• 7 · Other salaries and wages

  total $541,206,910 · program services $485,008,174 · management and general $47,263,297 · fundraising $8,935,439

• 8 · Pension plan contributions

  total $89,568,124 · program services $80,270,953 · management and general $7,819,297 · fundraising $1,477,874

• 9 · Other employee benefits

  total $100,075,203 · program services $89,687,397 · management and general $8,736,565 · fundraising $1,651,241

• 10 · Payroll taxes

  total $34,808,034 · program services $31,194,960 · management and general $3,038,741 · fundraising $574,333

• 11b · Fees: legal

  total $2,419,966 · program services $758,733 · management and general $1,661,233

• 11c · Fees: accounting

  total $498,598 · program services $19,761 · management and general $478,837

• 11d · Fees: lobbying

  total $21,000 · program services $21,000

• 11e · Fees: professional fundraising services

  total $687,030 · fundraising $687,030

• 11f · Fees: investment management

  total $4,686,880 · management and general $4,686,880

• 11g · Fees: other

  total $54,140,003 · program services $52,787,135 · management and general $1,263,135 · fundraising $89,733

• 12 · Advertising and promotion

  total $3,648,601 · program services $2,942,563 · management and general $501,802 · fundraising $204,236

• 13 · Office expenses

  total $23,314,328 · program services $17,950,882 · management and general $3,949,814 · fundraising $1,413,632

• 14 · Information technology

  total $48,107,242 · program services $19,081,850 · management and general $28,317,744 · fundraising $707,648

• 15 · Royalties

  total $1,750,233 · program services $1,732,701 · management and general $17,532

• 16 · Occupancy

  total $77,934,566 · program services $74,911,937 · management and general $2,487,081 · fundraising $535,548

• 17 · Travel

  total $30,344,338 · program services $29,055,892 · management and general $898,183 · fundraising $390,263

• 19 · Conferences, conventions and meetings

  total $2,171,228 · program services $1,488,744 · management and general $250,519 · fundraising $431,965

• 20 · Interest

  total $23,894,865 · program services $23,894,865

• 22 · Depreciation, depletion and amortization

  total $93,292,198 · program services $89,355,630 · management and general $3,936,568

• 23 · Insurance

  total $2,766,994 · program services $363,432 · management and general $2,360,184 · fundraising $43,378

• 24a · Other expenses: OTHER EXPENSES

  total $79,090,838 · program services $62,652,268 · management and general $15,297,048 · fundraising $1,141,522

• 24b · Other expenses: BAD DEBT EXPENSE

  total $1,490,369 · program services $1,490,369

• 24c · Other expenses: BOND FEES

  total $753,385 · program services $753,385

• 24d · Other expenses: LOSS ON DISPOSAL

  total $51,700 · program services $51,700

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $189,643 · end of year $247,635

• 2 · Savings and temporary cash investments

  beginning of year $153,852,395 · end of year $111,611,965

• 3 · Pledges and grants receivable

  beginning of year $71,425,569 · end of year $64,791,692

• 4 · Accounts receivable

  beginning of year $15,418,588 · end of year $28,279,203

• 8 · Inventories for sale or use

  beginning of year $289,712 · end of year $249,188

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,380,933 · end of year $1,710,838

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

  $3,431,422,825

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

  $1,493,882,096

• 10c · Land, buildings and equipment, net

  beginning of year $1,853,598,363 · end of year $1,937,540,729

• 11 · Investments: publicly traded securities

  beginning of year $895,061,580 · end of year $744,824,671

• 12 · Investments: other securities

  beginning of year $1,420,530,068 · end of year $1,578,312,055

• 13 · Investments: program-related

  beginning of year $5,519,492 · end of year $3,751,207

• 14 · Intangible assets

  beginning of year $5,936 · end of year $3,436

• 15 · Other assets

  beginning of year $11,967,261 · end of year $14,129,023

• 17 · Accounts payable and accrued expenses

  beginning of year $130,892,368 · end of year $146,296,257

• 19 · Deferred revenue

  beginning of year $74,253,069 · end of year $58,417,265

• 20 · Tax-exempt bond liabilities

  beginning of year $484,487,230 · end of year $473,197,784

• 24 · Unsecured notes and loans payable

  beginning of year $200,015,532 · end of year $197,974,510

• 25 · Other liabilities

  beginning of year $551,631,412 · end of year $518,205,001

• 27 · Net assets without donor restrictions

  beginning of year $1,549,409,361 · end of year $1,591,092,849

• 28 · Net assets with donor restrictions

  beginning of year $1,438,550,568 · end of year $1,500,267,976

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING ALLOWANCE AND PERSONAL SERVICES THE UNIVERSITY'S PRESIDENT IS REQUIRED TO LIVE IN AN ON-CAMPUS RESIDENCE AS A CONDITION OF HIS EMPLOYMENT FOR THE CONVENIENCE OF THE UNIVERSITY. THE RESIDENCE IS USED FOR UNIVERSITY-RELATED BUSINESS AND ENTERTAINMENT PURPOSES ON A CONTINUAL BASIS. THE HOUSING ALLOWANCE ARRANGEMENT MEETS THE IRC EXCLUSION FROM GROSS INCOME AND IS THEREFORE EXCLUDED FROM COMPENSATION REPORTED ON THE PRESIDENT'S FORM W-2. THE UNIVERSITY ALSO PROVIDES CLEANING SERVICE FOR THE RESIDENCE. THE ENTIRE AMOUNT OF CLEANING SERVICES PROVIDED REPORTED AS TAXABLE BENEFIT ON THE PRESIDENT'S FORM W-2 AND REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). HEALTH AND SOCIAL CLUB DUES TWO UNIVERSITY OFFICERS WERE PROVIDED BENEFITS TO A SOCIAL CLUB. THE MEMBERSHIPS WERE USED PREDOMINANTLY FOR UNIVERSITY BUSINESS PURPOSES. IT IS THE UNIVERSITY'S POLICY TO TREAT THE ABOVE ITEMS AS TAXABLE COMPENSATION AND REPORT THE APPLICABLE AMOUNTS ON THE INDIVIDUAL'S FORM W-2 AND REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). TRAVEL FOR COMPANION THE COMPANION TRAVEL IS REIMBURSABLE ONLY IF THE PERSON WHOM THE COMPANION IS ACCOMPANYING HAS A POSITION WITH THE UNIVERSITY AND IS TRAVELING TO MAKE A SIGNIFICANT CONTRIBUTION IN FURTHERANCE OF UNIVERSITY BUSINESS. THE PRESIDENT RECEIVED NONTAXABLE REIMBURSEMENT OF EXPENSES FOR SPOUSAL TRAVEL DURING CALENDAR YEAR 2022.

PART I, LINE 5

COMPENSATION CONTINGENT ON THE REVENUES THE UNIVERSITY'S CHIEF INVESTMENT OFFICER, A HIGHLY COMPENSATED EMPLOYEE, RECEIVED A BONUS PAYMENT WHICH IS PARTIALLY BASED UPON THE PERFORMANCE OF THE UNIVERSITY'S INVESTMENT PORTFOLIO. THIS TYPE OF COMPENSATION IS SUBJECT TO THE UNIVERSITY'S EXECUTIVE COMPENSATION PROCESS WHICH ENSURES THAT THE AMOUNT OF TOTAL COMPENSATION IS FAIR AND REASONABLE. CURRENT YEAR BONUS AMOUNT IS REPORTED ON SCHEDULE J, PART II, COLUMN B(II).

PART I, LINE 7

NONFIXED PAYMENTS THE UNIVERSITY OFFERED AN ANNUAL INCENTIVE COMPENSATION FOR OFFICERS AND CERTAIN HIGHEST PAID EMPLOYEES. BONUS PAYMENTS ARE BASED UPON ACHIEVING DOCUMENTED GOALS. THIS TYPE OF COMPENSATION IS PURSUANT TO THE UNIVERSITY'S EXECUTIVE COMPENSATION PROCESS WHICH ENSURES THAT THE AMOUNT OF TOTAL COMPENSATION IS FAIR AND REASONABLE. CURRENT YEAR BONUS AMOUNTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II).

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• BLUE HEN HOTEL LLC

  HOTEL · DE · income $4,828,599 · assets $13,370,621

  Directly controlled by UNIV OF DE

• 1743 HOLDINGS LLC

  RESEARCH · DE · income $419,135 · assets $60,099,795

  Directly controlled by UNIV OF DE

• UD HEALTH LLC

  HEALTHCARE · DE · income $0 · assets $0

  Directly controlled by UNIV OF DE

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• FIRST STATE MARINE WIND LLC

  RELATED · PWR GENERATION · DE · 97.5% owned · share of income $415,236 · share of assets $4,321,292

  Directly controlled by BLUE HEN WIND INC

• PERFORMANCE VC OPP FUND

  EXCLUDED · INVESTMENTS · CT · 99% owned · share of income $361,508 · share of assets $18,896,455

• KNIGHTSBRIDGE B LP

  EXCLUDED · INVESTMENTS · OK · 99.8% owned · share of income $1,702,202 · share of assets $55,660,352

Related corporations and trusts

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

• BLUE HEN WIND INC

  C · INVESTMENTS · DE · 100% owned · share of assets $3,012,867 · controlled entity

• UNIVERSITY OF DE STUDENT HOUSING FNDN

  C · INACTIVE · DE · 100% owned · controlled entity

• CHARITABLE REMAINDER ANNUITY TRUST (5)

  T · INVESTMENTS · DE

• CHARITABLE REMAINDER UNITRUST TRUST (8)

  T · INVESTMENTS · DE