Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $25,530

• 1d · Related organizations

  $28,820

• 1e · Government grants (contributions)

  $10,453,582

• 1f · All other contributions, gifts and grants

  $9,352,549

• 1g · Noncash contributions included above

  $793,991

• 2a · Program service revenue: TUITION AND FEES

  total $134,423,642 · related or exempt $134,423,642

• 2b · Program service revenue: RESIDENT HALLS

  total $14,124,390 · related or exempt $14,124,390

• 2c · Program service revenue: CAFETERIA

  total $6,262,431 · related or exempt $6,262,431

• 2d · Program service revenue: AUXILIARY INCOME

  total $2,556,102 · related or exempt $2,556,102

• 2e · Program service revenue: EDUCATIONAL PROGRAMS

  total $1,306,783 · related or exempt $1,306,783

• 2f · All other program service revenue

  total $3,902,807 · related or exempt $3,015,241 · unrelated business $399,228 · excluded $488,338

• 3 · Investment income

  total $6,794,058 · unrelated business $20,275 · excluded $6,773,783

• 6a · Gross rents

  real property $416,667 · personal property $60,802

• 6b · Less rental expenses

  real property $0 · personal property $39,031

• 6c · Rental income or loss

  real property $416,667 · personal property $21,771

• 6d · Net rental income or loss

  total $438,438 · unrelated business $21,771 · excluded $416,667

• 7a · Gross sales of assets other than inventory

  securities $204,294,668

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

  securities $189,093,070

• 7c · Gain or loss

  securities $15,201,598

• 7d · Net gain or loss

  total $15,201,598 · excluded $15,201,598

• 8a · Fundraising events: gross income

  $48,615

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

  $25,530

• 8b · Fundraising events: direct expenses

  $70,910

• 8c · Net income from fundraising events

  total -$22,295 · excluded -$22,295

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $76,660 · program services $76,660

• 2 · Grants to domestic individuals

  total $67,626,899 · program services $67,626,899

• 5 · Compensation of officers, directors and key employees

  total $4,206,665 · program services $648,562 · management and general $3,295,904 · fundraising $262,199

• 6 · Compensation of disqualified persons

  total $384,476 · program services $384,476

• 7 · Other salaries and wages

  total $54,921,941 · program services $43,259,556 · management and general $10,193,155 · fundraising $1,469,230

• 8 · Pension plan contributions

  total $1,316,047 · program services $1,061,473 · management and general $208,319 · fundraising $46,255

• 9 · Other employee benefits

  total $7,883,544 · program services $4,011,215 · management and general $3,650,638 · fundraising $221,691

• 10 · Payroll taxes

  total $3,925,703 · program services $2,962,250 · management and general $851,300 · fundraising $112,153

• 11a · Fees: management

  total $1,446,314 · program services $969,628 · management and general $473,165 · fundraising $3,521

• 11b · Fees: legal

  total $954,950 · program services $14,400 · management and general $934,011 · fundraising $6,539

• 11c · Fees: accounting

  total $112,950 · management and general $112,950

• 11f · Fees: investment management

  total $560,446 · management and general $560,446

• 11g · Fees: other

  total $665,073 · program services $461,385 · management and general $203,688

• 12 · Advertising and promotion

  total $962,013 · program services $761,177 · management and general $200,824 · fundraising $12

• 13 · Office expenses

  total $6,051,788 · program services $4,301,052 · management and general $1,651,109 · fundraising $99,627

• 14 · Information technology

  total $3,325,231 · program services $428,989 · management and general $2,882,526 · fundraising $13,716

• 16 · Occupancy

  total $6,334,356 · program services $2,212,168 · management and general $4,121,374 · fundraising $814

• 17 · Travel

  total $1,989,593 · program services $1,748,428 · management and general $213,145 · fundraising $28,020

• 19 · Conferences, conventions and meetings

  total $657,116 · program services $514,419 · management and general $141,245 · fundraising $1,452

• 20 · Interest

  total $1,919,106 · program services $1,785,273 · management and general $133,833

• 22 · Depreciation, depletion and amortization

  total $8,295,812 · program services $7,754,800 · management and general $541,012

• 23 · Insurance

  total $2,047,063 · program services $67,857 · management and general $1,979,206

• 24a · Other expenses: STUDENT DINING SERVICES

  total $5,570,137 · program services $5,424,020 · management and general $126,326 · fundraising $19,791

• 24b · Other expenses: LEGAL SETTLEMENT

  total $1,000,000 · management and general $1,000,000

• 24c · Other expenses: ALLOCATION OF DEPT EXP

  total $0 · program services $18,314,442 · management and general -$18,314,442

• 24e · All other expenses

  total $9,035,565 · program services $8,359,031 · management and general $607,082 · fundraising $69,452

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $55,875 · end of year $89,267

• 2 · Savings and temporary cash investments

  beginning of year $62,526,196 · end of year $46,145,119

• 3 · Pledges and grants receivable

  beginning of year $4,792,706 · end of year $3,832,458

• 4 · Accounts receivable

  beginning of year $919,558 · end of year $7,774,956

• 5 · Loans and receivables from officers and key people

  beginning of year $25,000 · end of year $15,000

• 8 · Inventories for sale or use

  beginning of year $21,218 · end of year $22,300

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,977,803 · end of year $2,282,531

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

  $274,590,728

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

  $138,245,200

• 10c · Land, buildings and equipment, net

  beginning of year $139,113,122 · end of year $136,345,528

• 11 · Investments: publicly traded securities

  beginning of year $146,229,536 · end of year $157,694,754

• 12 · Investments: other securities

  beginning of year $12,408,279 · end of year $13,521,991

• 13 · Investments: program-related

  beginning of year $3,793,025 · end of year $3,105,801

• 14 · Intangible assets

  beginning of year $475,000 · end of year $475,000

• 15 · Other assets

  beginning of year $7,331,330 · end of year $6,880,276

• 17 · Accounts payable and accrued expenses

  beginning of year $16,675,932 · end of year $12,051,876

• 19 · Deferred revenue

  beginning of year $1,990,344 · end of year $1,061,527

• 20 · Tax-exempt bond liabilities

  beginning of year $57,103,126 · end of year $51,862,565

• 21 · Escrow or custodial account liability

  beginning of year $617,043 · end of year $623,232

• 25 · Other liabilities

  beginning of year $7,203,154 · end of year $6,115,254

• 27 · Net assets without donor restrictions

  beginning of year $169,223,642 · end of year $170,963,872

• 28 · Net assets with donor restrictions

  beginning of year $126,855,407 · end of year $135,506,655

The filer's explanations (Part III)

PART I, LINE 1A

THE UNIVERSITY OWNS A PRESIDENTIAL RESIDENCE. BY CONTRACT, THE PRESIDENT IS REQUIRED TO LIVE IN THE RESIDENCE AND HOST REGULAR EVENTS FOR THE UNIVERSITY THROUGHOUT THE YEAR. THE UNIVERSITY PAYS THE EXPENSES FOR THE PRESIDENT'S RESIDENCE. PART OF THE UTILITIES EXPENSES WERE INCLUDED IN TAXABLE COMPENSATION. ALL OTHER EXPENSES WERE NOT TREATED AS TAXABLE COMPENSATION TO THE PRESIDENT. THE UNIVERSITY ALSO PAYS FOR THE PRESIDENT'S MEMBERSHIP TO THE LOCAL ROTARY CLUB. THE PRESIDENT ATTENDS FOR COMMUNITY SERVICE, OUTREACH, AND FUNDRAISING OPPORTUNITIES. THIS WAS NOT TREATED AS TAXABLE COMPENSATION TO THE PRESIDENT.

PART I, LINES 4A-B

LORI VARLOTTA PARTICIPATED IN TWO SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLANS. CONTRIBUTIONS OF $23,000 AND $30,500 WERE MADE IN 2024. THERE WAS A DISTRIBUTION OF $470,469 FROM NON-QUALIFIED RETIREMENT PLANS IN 2024 THAT WAS INCLUDED IN TAXABLE COMPENSATION.

Related corporations and trusts

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

• CHARITABLE REMAINDER UNITRUST (14)

  T · CHARITABLE TRUST · CA · controlled entity

  Directly controlled by CALIFORNIA LUTHERAN UNIVERSITY