Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $622,221

• 1d · Related organizations

  $15,399

• 1e · Government grants (contributions)

  $16,105,154

• 1f · All other contributions, gifts and grants

  $6,027,915

• 1g · Noncash contributions included above

  $61,299

• 2a · Program service revenue: TUITION

  total $191,758,193 · related or exempt $191,758,193

• 2b · Program service revenue: AUXILIARY ACTIVITIES

  total $8,205,540 · related or exempt $7,997,199 · unrelated business $208,341

• 2c · Program service revenue: STUDENT FEES

  total $6,131,240 · related or exempt $6,131,240

• 3 · Investment income

  total $14,186,837 · unrelated business $1,643,332 · excluded $12,543,505

• 7a · Gross sales of assets other than inventory

  securities $58,470,011 · other assets $20,785

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

  securities $17,221,386 · other assets $26,907

• 7c · Gain or loss

  securities $41,248,625 · other assets -$6,122

• 7d · Net gain or loss

  total $41,242,503 · excluded $41,242,503

• 8a · Fundraising events: gross income

  $53,785

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

  $622,221

• 8b · Fundraising events: direct expenses

  $742,828

• 8c · Net income from fundraising events

  total -$689,043 · excluded -$689,043

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $1,083,398 · excluded $1,083,398

• 11e · Other revenue, total

  $1,083,398

Functional expenses

Part IX, the statement of functional expenses.

• 3 · Grants to foreign organizations and individuals

  total $81,518,574 · program services $81,518,574

• 5 · Compensation of officers, directors and key employees

  total $13,790,830 · program services $9,168,035 · management and general $4,006,001 · fundraising $616,794

• 7 · Other salaries and wages

  total $58,127,065 · program services $42,461,350 · management and general $13,911,349 · fundraising $1,754,366

• 8 · Pension plan contributions

  total $4,185,768 · program services $2,671,576 · management and general $1,501,239 · fundraising $12,953

• 9 · Other employee benefits

  total $12,503,438 · program services $7,556,942 · management and general $4,602,510 · fundraising $343,986

• 10 · Payroll taxes

  total $2,337,735 · program services $1,176,951 · management and general $963,742 · fundraising $197,042

• 11a · Fees: management

  total $2,827,566 · program services $1,545,933 · management and general $1,281,633

• 11b · Fees: legal

  total $694,633 · management and general $694,633

• 11c · Fees: accounting

  total $116,595 · program services $17,545 · management and general $99,050

• 11f · Fees: investment management

  total $8,476,925 · management and general $8,476,925

• 12 · Advertising and promotion

  total $815,019 · program services $127,397 · management and general $678,406 · fundraising $9,216

• 13 · Office expenses

  total $4,344,642 · program services $3,304,012 · management and general $999,442 · fundraising $41,188

• 14 · Information technology

  total $302,205 · program services $223,357 · management and general $78,848

• 16 · Occupancy

  total $21,570,116 · program services $9,005,078 · management and general $12,448,921 · fundraising $116,117

• 17 · Travel

  total $1,435,180 · program services $887,688 · management and general $453,926 · fundraising $93,566

• 19 · Conferences, conventions and meetings

  total $588,054 · program services $543,779 · management and general $44,117 · fundraising $158

• 22 · Depreciation, depletion and amortization

  total $13,438,612 · program services $3,700,875 · management and general $9,725,323 · fundraising $12,414

• 23 · Insurance

  total $1,873,341 · program services $23,937 · management and general $1,848,424 · fundraising $980

• 24a · Other expenses: SPONSORED TUITION

  total $16,150,880 · program services $16,150,880

• 24b · Other expenses: PROVISION FOR BAD DEBT

  total $2,716,361 · program services $2,716,361

• 24c · Other expenses: ENTERTAINMENT AND PUBLI

  total $630,839 · program services $412,294 · management and general $161,687 · fundraising $56,858

• 24d · Other expenses: BANK CHARGES

  total $150,768 · program services $130,755 · management and general $19,979 · fundraising $34

• 24e · All other expenses

  total $1,399,310 · program services $837,411 · management and general $527,987 · fundraising $33,912

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $13,761,210 · end of year $23,558,742

• 2 · Savings and temporary cash investments

  beginning of year $9,386,528 · end of year $41,093,334

• 3 · Pledges and grants receivable

  beginning of year $993,969 · end of year $1,174,932

• 4 · Accounts receivable

  beginning of year $47,450,043 · end of year $56,174,437

• 8 · Inventories for sale or use

  beginning of year $161,513 · end of year $153,241

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,243,907 · end of year $2,298,177

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

  $546,422,170

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

  $222,690,145

• 10c · Land, buildings and equipment, net

  beginning of year $322,700,880 · end of year $323,732,025

• 11 · Investments: publicly traded securities

  beginning of year $462,393,763 · end of year $427,026,964

• 12 · Investments: other securities

  beginning of year $426,523,101 · end of year $454,072,460

• 17 · Accounts payable and accrued expenses

  beginning of year $61,923,713 · end of year $57,764,336

• 19 · Deferred revenue

  beginning of year $10,708,428 · end of year $10,785,152

• 27 · Net assets without donor restrictions

  beginning of year $1,130,736,119 · end of year $1,171,793,147

• 28 · Net assets with donor restrictions

  beginning of year $82,246,654 · end of year $88,941,677

The filer's explanations (Part III)

PART I, LINE 1A

THE PRESIDENT OF THE UNIVERSITY IS PROVIDED TRAVEL FOR SPOUSE, HOUSING ALLOWANCE, AND PERSONAL SERVICES. ALL REQUIRED AMOUNTS WERE REPORTED AS TAXABLE COMPENSATION.

Related partnerships

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

• SANDGLASS SELECT US FEEDER FUND II LP

  EXCLUDED · INVESTING · NY · 67% owned · share of income $481,662 · share of assets $3,334,624

  Directly controlled by LEBANESE AMERICAN UNIVERSITY

Related corporations and trusts

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

• MEDICAL CARE HOLDING SAL

  C · HOLDING COMPANY · LE · 94% owned · share of assets $114,110,000 · controlled entity

  Directly controlled by LEBANESE AMERICAN UNIVERSITY

• UNIVERSITY MEDICAL CENTER - RIZK HOSPITAL

  C · HOSPITAL · LE · 98.59% owned · share of income $60,520,000 · share of assets $100,534,000 · controlled entity

  Directly controlled by LEBANESE AMERICAN UNIVERSITY

• MEDICAL CARE MANAGEMENT SAL

  C · MANAGE HEALTHCARE FACILITIES · LE · 91.75% owned · share of income $21,538,000 · share of assets $24,434,000 · controlled entity

  Directly controlled by LEBANESE AMERICAN UNIVERSITY

• LAU INNOVATE SAL

  C · TO PROVIDE SUPPORT FOR THE DEVELOPMENT AND SUCCESS OF STARTUP COMPANIES · LE · 99.8% owned · share of assets $181,000 · controlled entity

  Directly controlled by LEBANESE AMERICAN UNIVERSITY