Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $45,616

• 1e · Government grants (contributions)

  $2,223,313

• 1f · All other contributions, gifts and grants

  $4,891,378

• 1g · Noncash contributions included above

  $51,199

• 2a · Program service revenue: TUITION AND FEES

  total $95,860,003 · related or exempt $95,860,003

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $18,078,351 · related or exempt $18,038,351 · unrelated business $40,000

• 2c · Program service revenue: ATHLETICS GUARANTEED PROCEEDS

  total $944,500 · related or exempt $944,500

• 2d · Program service revenue: THEATER

  total $66,755 · related or exempt $66,755

• 3 · Investment income

  total $2,899,149 · excluded $2,899,149

• 4 · Income from investment of tax-exempt bond proceeds

  total $833,105 · excluded $833,105

• 6a · Gross rents

  real property $127,495

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $127,495

• 6d · Net rental income or loss

  total $127,495 · excluded $127,495

• 7a · Gross sales of assets other than inventory

  securities $65,101,332

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

  securities $59,374,673

• 7c · Gain or loss

  securities $5,726,659

• 7d · Net gain or loss

  total $5,726,659 · excluded $5,726,659

• 8a · Fundraising events: gross income

  $45,015

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

  $45,616

• 8b · Fundraising events: direct expenses

  $54,669

• 8c · Net income from fundraising events

  total -$9,654 · excluded -$9,654

• 11a · Other revenue: LAB FEES

  total $341,703 · related or exempt $341,703

• 11b · Other revenue: FINES

  total $130,364 · excluded $130,364

• 11d · All other revenue

  total $264,769 · unrelated business $2,000 · excluded $262,769

• 11e · Other revenue, total

  $736,836

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $55,942,010 · program services $55,942,010

• 5 · Compensation of officers, directors and key employees

  total $1,688,094 · program services $624,595 · management and general $1,063,499

• 6 · Compensation of disqualified persons

  total $194,709 · program services $72,042 · management and general $122,667

• 7 · Other salaries and wages

  total $29,049,021 · program services $21,786,766 · management and general $5,809,804 · fundraising $1,452,451

• 8 · Pension plan contributions

  total $2,782,449 · program services $2,086,837 · management and general $556,490 · fundraising $139,122

• 9 · Other employee benefits

  total $9,116,667 · program services $6,837,501 · management and general $1,823,333 · fundraising $455,833

• 10 · Payroll taxes

  total $2,241,787 · program services $1,681,341 · management and general $448,357 · fundraising $112,089

• 11b · Fees: legal

  total $428,718 · management and general $428,718

• 11c · Fees: accounting

  total $248,015 · management and general $248,015

• 11f · Fees: investment management

  total $302,809 · management and general $302,809

• 11g · Fees: other

  total $1,807,212 · program services $1,355,409 · management and general $361,442 · fundraising $90,361

• 12 · Advertising and promotion

  total $152,087 · program services $114,066 · management and general $30,417 · fundraising $7,604

• 13 · Office expenses

  total $9,121,832 · program services $6,841,374 · management and general $1,824,366 · fundraising $456,092

• 14 · Information technology

  total $736,535 · program services $552,401 · management and general $147,307 · fundraising $36,827

• 16 · Occupancy

  total $3,951,504 · program services $2,963,628 · management and general $790,301 · fundraising $197,575

• 17 · Travel

  total $2,184,564 · program services $1,638,423 · management and general $436,913 · fundraising $109,228

• 19 · Conferences, conventions and meetings

  total $311,317 · program services $233,488 · management and general $62,263 · fundraising $15,566

• 20 · Interest

  total $5,438,219 · management and general $5,438,219

• 22 · Depreciation, depletion and amortization

  total $8,339,879 · program services $6,254,909 · management and general $1,667,976 · fundraising $416,994

• 23 · Insurance

  total $1,516,402 · program services $1,137,302 · management and general $303,280 · fundraising $75,820

• 24a · Other expenses: DINING

  total $7,598,987 · program services $5,699,241 · management and general $1,519,797 · fundraising $379,949

• 24b · Other expenses: HOSPITALITY

  total $751,608 · program services $563,706 · management and general $150,322 · fundraising $37,580

• 24c · Other expenses: SUBSCRIPTIONS

  total $601,671 · program services $451,253 · management and general $120,334 · fundraising $30,084

• 24d · Other expenses: MEMBERSHIPS

  total $370,022 · program services $277,517 · management and general $74,004 · fundraising $18,501

• 24e · All other expenses

  total $130,450 · program services $97,837 · management and general $26,090 · fundraising $6,523

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $2,490,765 · end of year $10,470,864

• 3 · Pledges and grants receivable

  beginning of year $370,698 · end of year $243,135

• 4 · Accounts receivable

  beginning of year $3,623,457 · end of year $1,907,949

• 7 · Other notes and loans receivable

  beginning of year $761,054 · end of year $591,517

• 8 · Inventories for sale or use

  beginning of year $74,204 · end of year $74,204

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,939,270 · end of year $1,446,428

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

  $238,178,317

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

  $118,580,771

• 10c · Land, buildings and equipment, net

  beginning of year $112,746,606 · end of year $119,597,546

• 11 · Investments: publicly traded securities

  beginning of year $121,329,307 · end of year $105,823,519

• 12 · Investments: other securities

  beginning of year $2,859,319 · end of year $4,270,441

• 15 · Other assets

  beginning of year $31,554,231 · end of year $15,165,658

• 17 · Accounts payable and accrued expenses

  beginning of year $9,242,917 · end of year $4,471,093

• 19 · Deferred revenue

  beginning of year $18,389,943 · end of year $16,674,953

• 20 · Tax-exempt bond liabilities

  beginning of year $115,713,670 · end of year $115,592,136

• 23 · Secured mortgages and notes payable

  beginning of year $2,066,783 · end of year $1,852,149

• 25 · Other liabilities

  beginning of year $6,607,710 · end of year $6,411,541

• 27 · Net assets without donor restrictions

  beginning of year -$1,072,463 · end of year -$17,481,231

• 28 · Net assets with donor restrictions

  beginning of year $126,800,351 · end of year $132,070,620

The filer's explanations (Part III)

PART I, LINE 1A

WAGNER COLLEGE PROVIDED HOUSING ON ITS BUSINESS PREMISES FOR THE FOLLOWING EMPLOYEES - ANGELO ARAIMO (FORMER PRESIDENT) THROUGH THE END OF HIS TENURE AS PRESIDENT IN JULY 2024, JEFFREY DOGGETT (PRESIDENT), AND TARSHIA STANLEY (PROVOST AND SENIOR VP); THESE INDIVIDUALS WERE REQUIRED TO ACCEPT HOUSING AS A CONDITION OF THEIR EMPLOYMENT AT THE COLLEGE. THE COLLEGE DEEMED IT NECESSARY FOR THESE INDIVIDUALS TO BE AVAILABLE ALL HOURS OF THE DAY AND NIGHT TO ATTEND TO ANY URGENT SITUATIONS THAT COULD ARISE AFTER NORMAL BUSINESS HOURS. THE INDIVIDUALS ARE CHARGED WITH DUTIES OF SECURITY AND STUDENT WELFARE, SUCH AS CAMPUS HOUSING ISSUES, POWER OUTAGES, INCLEMENT WEATHER ISSUES, AND OTHER EMERGENCY SITUATIONS. THIS BENEFIT WAS NOT TREATED AS TAXABLE COMPENSATION TO ANY EMPLOYEE. THE APPROXIMATE NON-TAXABLE VALUES OF THE HOUSING PROVIDED TO THE EMPLOYEES ARE AS FOLLOWS: ANGELO ARAIMO - $61,103, JEFFREY DOGGETT - $63,124 AND TARSHIA STANLEY - $96,304. WAGNER COLLEGE ALSO PROVIDED HOUSEKEEPING SERVICES FOR JEFFREY DOGGETT. THE NON-TAXABLE VALUE OF HOUSEKEEPING SERVICES RELATED EXCLUSIVELY TO EVENTS RELATED TO THE COLLEGE IS $1,400. WAGNER COLLEGE CONTRACTS DIRECTLY WITH THE HOUSEKEEPING SERVICES FOR UPKEEP OF THE COLLEGE-OWNED RESIDENCE THE PRESIDENT IS REQUIRED TO OCCUPY AS A CONDITION OF EMPLOYMENT. WAGNER COLLEGE ALSO PROVIDED SOCIAL CLUB DUES FOR JEFFREY DOGGETT IN THE AMOUNT OF $67,406 AND FOR WALTER HAMELINE (VICE PRESIDENT OF INTERCOLLEGIATE ATHLETICS) IN THE AMOUNT OF $33,166. AS THESE MEMBERSHIPS ARE USED FOR BUSINESS PURPOSES ONLY, SPECIFICALLY DONOR DEVELOPMENT AND COLLEGE-RELATED BUSINESS MEETINGS, THEY WERE TREATED AS NON-TAXABLE COMPENSATION. WAGNER COLLEGE REIMBURSED JEFFREY DOGGETT FOR MOVING EXPENSES INCURRED IN CONNECTION WITH HIS APPOINTMENT AS PRESIDENT AND PROVIDED AN AUTOMOBILE ALLOWANCE. BOTH BENEFITS WERE INCLUDED IN THE PRESIDENT'S TAXABLE COMPENSATION, AND WAGNER COLLEGE GROSSED UP THE PAYMENTS TO COVER THE RELATED FEDERAL, STATE, AND EMPLOYMENT TAXES, TOTALING $10,126 IN GROSS-UP TAXABLE COMPENSATION.

PART I, LINE 3

WAGNER COLLEGE'S EXECUTIVE COMMITTEE, WHICH IS COMPRISED OF INDEPENDENT MEMBERS OF THE BOARD OF TRUSTEES, DETERMINES THE COMPENSATION OF THE COLLEGE'S PRESIDENT. BOTH THE EXECUTIVE COMMITTEE AND THE BOARD MUST REVIEW AND APPROVE COMPENSATION. COMPENSATION IS DETERMINED THROUGH REVIEW OF THE FORM 990 OF OTHER COMPARABLE LIKESIZE ORGANIZATIONS. THE EXECUTIVE COMMITTEE ALSO REFERS TO COMPARABLES AND SALARY SURVEYS, MAINLY CUPA, TO DETERMINE THE REASONABLENESS OF THE PROPOSED COMPENSATION AMOUNT. ANY COMPENSATION DETERMINATIONS OF THE EXECUTIVE COMMITTEE ARE RECORDED CONTEMPORANEOUSLY IN THE MINUTES OF THE COMMITTEE.

PART I, LINE 4A SEVERANCE PAYMENT:

FORMER PRESIDENT, ANGELO ARAIMO, RECEIVED $196,950 IN CONTINUED SALARY PAYMENTS FOR 6 MONTHS IN 2024 FOLLOWING RETIREMENT ON 6/30/2024. THE PAYMENT WAS UNDER THE TERMS OF A NEGOTIATED RETIREMENT TRANSITION BASED ON HIS CONTRACT. THE SALARY CONTINUATION EXTENDED FOR AN ADDITIONAL SIX MONTHS INTO 2025, WHICH WILL BE REPORTED ON THE SUBSEQUENT FILING.