Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $846,889

• 1f · All other contributions, gifts and grants

  $3,033,869

• 1g · Noncash contributions included above

  $48,999

• 2a · Program service revenue: TUITION AND FEES

  total $25,502,859 · related or exempt $25,502,859

• 2b · Program service revenue: AUXILIARY OPERATIONS AND OTHER

  total $5,246,279 · related or exempt $5,246,279

• 3 · Investment income

  total $318,041 · excluded $318,041

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

  total $74,665 · excluded $74,665

• 7a · Gross sales of assets other than inventory

  securities $3,105,400

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

  securities $3,082,356

• 7c · Gain or loss

  securities $23,044

• 7d · Net gain or loss

  total $23,044 · excluded $23,044

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $15,739,400 · program services $15,739,400

• 5 · Compensation of officers, directors and key employees

  total $1,117,548 · program services $650,435 · management and general $235,217 · fundraising $231,896

• 7 · Other salaries and wages

  total $9,047,802 · program services $7,902,648 · management and general $731,550 · fundraising $413,604

• 8 · Pension plan contributions

  total $278,723 · program services $241,382 · management and general $29,889 · fundraising $7,452

• 9 · Other employee benefits

  total $989,734 · program services $715,693 · management and general $255,922 · fundraising $18,119

• 10 · Payroll taxes

  total $646,271 · program services $570,120 · management and general $53,852 · fundraising $22,299

• 11b · Fees: legal

  total $82,084 · management and general $82,084

• 11c · Fees: accounting

  total $71,170 · management and general $71,170

• 11g · Fees: other

  total $1,514,013 · program services $1,244,925 · management and general $218,917 · fundraising $50,171

• 12 · Advertising and promotion

  total $180,791 · program services $142,356 · management and general $8,787 · fundraising $29,648

• 13 · Office expenses

  total $970,745 · program services $690,138 · management and general $207,497 · fundraising $73,110

• 14 · Information technology

  total $440,041 · program services $206,115 · management and general $231,209 · fundraising $2,717

• 16 · Occupancy

  total $2,051,629 · program services $561,406 · management and general $1,434,483 · fundraising $55,740

• 17 · Travel

  total $837,062 · program services $812,749 · management and general $1,233 · fundraising $23,080

• 19 · Conferences, conventions and meetings

  total $18,080 · program services $18,080

• 20 · Interest

  total $1,912,841 · program services $1,530,273 · management and general $229,541 · fundraising $153,027

• 22 · Depreciation, depletion and amortization

  total $1,133,238 · program services $906,590 · management and general $135,989 · fundraising $90,659

• 23 · Insurance

  total $480,744 · program services $155,967 · management and general $324,777

• 24a · Other expenses: CONTRACTED DINING SVCS

  total $1,932,570 · program services $1,908,842 · management and general $1,380 · fundraising $22,348

• 24b · Other expenses: OTHER

  total $969,227 · program services $601,695 · management and general $272,871 · fundraising $94,661

• 24c · Other expenses: BOOKSTORE COST OF GOODS

  total $225,542 · program services $225,542

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $46,347 · end of year $20,983

• 2 · Savings and temporary cash investments

  beginning of year $1,247,063 · end of year $144,937

• 3 · Pledges and grants receivable

  beginning of year $5,401,238 · end of year $3,566,287

• 4 · Accounts receivable

  beginning of year $848,990 · end of year $1,072,468

• 8 · Inventories for sale or use

  beginning of year $105,408 · end of year $84,167

• 9 · Prepaid expenses and deferred charges

  beginning of year $205,530 · end of year $212,727

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

  $67,783,619

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

  $38,385,241

• 10c · Land, buildings and equipment, net

  beginning of year $29,946,658 · end of year $29,398,378

• 11 · Investments: publicly traded securities

  beginning of year $9,309,175 · end of year $9,075,172

• 13 · Investments: program-related

  beginning of year $708,197 · end of year $663,753

• 15 · Other assets

  beginning of year $26,810,964 · end of year $26,834,500

• 17 · Accounts payable and accrued expenses

  beginning of year $1,793,775 · end of year $2,908,568

• 19 · Deferred revenue

  beginning of year $817,268 · end of year $729,233

• 20 · Tax-exempt bond liabilities

  beginning of year $28,836,160 · end of year $28,873,114

• 23 · Secured mortgages and notes payable

  beginning of year $1,687,772 · end of year $1,895,486

• 25 · Other liabilities

  beginning of year $1,204,889 · end of year $1,141,002

• 27 · Net assets without donor restrictions

  beginning of year $1,102,629 · end of year -$4,630,743

• 28 · Net assets with donor restrictions

  beginning of year $39,187,077 · end of year $40,156,712

The filer's explanations (Part III)

PART I, LINE 1A

BENEFITS PROVIDED TO CERTAIN OFFICERS - THE COLLEGE REQUIRES ITS PRESIDENT TO LIVE ON CAMPUS AND HAS PROVIDED THE MANOR HOUSE TO HIM. THE PRESIDENT CONDUCTS A SUBSTANTIAL AMOUNT OF BUSINESS AT HIS RESIDENCE. IN CONNECTION WITH THE HOUSE, THE COLLEGE PROVIDES CUSTODIAL SERVICES FOR THE CLEANING AND MAINTENANCE OF THE PROPERTY. THE COLLEGE ALSO PROVIDES A PAID CLUB MEMBERSHIP FOR THE PRESIDENT. THE HOUSING, CUSTODIAL SERVICES, AND CLUB MEMBERSHIP ARE NOT TREATED AS TAXABLE COMPENSATION TO THE PRESIDENT.