Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,322,400

• 1e · Government grants (contributions)

  $14,824,139

• 1f · All other contributions, gifts and grants

  $21,988,074

• 2a · Program service revenue: TUITION AND FEES

  total $70,410,384 · related or exempt $70,410,384

• 3 · Investment income

  total $8,163,724 · unrelated business $89,542 · excluded $8,074,182

• 7a · Gross sales of assets other than inventory

  securities $15,648,013

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

  securities $16,800,432

• 7c · Gain or loss

  securities -$1,152,419

• 7d · Net gain or loss

  total -$1,152,419 · excluded -$1,152,419

• 8a · Fundraising events: gross income

  $0

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

  $1,322,400

• 8b · Fundraising events: direct expenses

  $392,669

• 8c · Net income from fundraising events

  total -$392,669 · excluded -$392,669

• 11a · Other revenue: AUXILIARY SERVICES

  total $22,161,273 · related or exempt $22,161,273

• 11b · Other revenue: OTHER INCOME

  total $4,273,302 · excluded $4,273,302

• 11e · Other revenue, total

  $26,434,575

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $26,600,328 · program services $26,600,328

• 3 · Grants to foreign organizations and individuals

  total $122,133 · program services $122,133

• 5 · Compensation of officers, directors and key employees

  total $11,851,393 · program services $5,366,611 · management and general $5,859,782 · fundraising $625,000

• 7 · Other salaries and wages

  total $31,752,487 · program services $24,122,598 · management and general $6,809,964 · fundraising $819,925

• 8 · Pension plan contributions

  total $1,826,205 · program services $1,369,654 · management and general $401,765 · fundraising $54,786

• 9 · Other employee benefits

  total $5,748,442 · program services $3,449,066 · management and general $2,126,923 · fundraising $172,453

• 10 · Payroll taxes

  total $2,978,598 · program services $2,293,520 · management and general $536,148 · fundraising $148,930

• 11b · Fees: legal

  total $2,220,100 · management and general $2,220,100

• 11c · Fees: accounting

  total $443,600 · management and general $443,600

• 11e · Fees: professional fundraising services

  total $10,000 · fundraising $10,000

• 11f · Fees: investment management

  total $1,021,277 · management and general $1,021,277

• 11g · Fees: other

  total $19,025,702 · program services $12,900,439 · management and general $6,042,223 · fundraising $83,040

• 12 · Advertising and promotion

  total $299,100 · program services $146,559 · management and general $98,703 · fundraising $53,838

• 13 · Office expenses

  total $6,430,796 · program services $2,040,816 · management and general $3,462,273 · fundraising $927,707

• 14 · Information technology

  total $185,688 · management and general $185,688

• 16 · Occupancy

  total $3,226,953 · program services $2,420,215 · management and general $806,738

• 17 · Travel

  total $3,972,660 · program services $2,900,042 · management and general $953,438 · fundraising $119,180

• 22 · Depreciation, depletion and amortization

  total $6,027,251 · program services $2,410,900 · management and general $3,616,351

• 23 · Insurance

  total $2,630,503 · program services $13,153 · management and general $2,617,350

• 24a · Other expenses: FOOD SERVICE

  total $5,378,465 · program services $4,302,772 · fundraising $1,075,693

• 24b · Other expenses: EQUIP. RENTAL & MAINT.

  total $3,853,825 · program services $1,853,305 · management and general $1,984,334 · fundraising $16,186

• 24c · Other expenses: UNIV. CENTER EXPENSES

  total $3,585,267 · program services $3,119,182 · management and general $466,085

• 24d · Other expenses: BAD DEBT EXPENSE

  total $782,196 · management and general $782,196

• 24e · All other expenses

  total $1,105,106 · program services $504,257 · management and general $542,164 · fundraising $58,685

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $45,084,337 · end of year $50,984,433

• 3 · Pledges and grants receivable

  beginning of year $8,963,743 · end of year $6,898,719

• 4 · Accounts receivable

  beginning of year $6,835,934 · end of year $5,523,596

• 7 · Other notes and loans receivable

  beginning of year $2,034,799 · end of year $1,480,257

• 9 · Prepaid expenses and deferred charges

  beginning of year $631,835 · end of year $907,874

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

  $302,498,912

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

  $133,557,751

• 10c · Land, buildings and equipment, net

  beginning of year $165,918,611 · end of year $168,941,161

• 11 · Investments: publicly traded securities

  beginning of year $118,750,468 · end of year $139,313,798

• 12 · Investments: other securities

  beginning of year $121,229,389 · end of year $112,902,791

• 15 · Other assets

  end of year $823,468

• 17 · Accounts payable and accrued expenses

  beginning of year $11,207,639 · end of year $11,108,185

• 19 · Deferred revenue

  beginning of year $146,629 · end of year $181,366

• 20 · Tax-exempt bond liabilities

  end of year $473,037

• 23 · Secured mortgages and notes payable

  beginning of year $5,000,000 · end of year $5,000,000

• 25 · Other liabilities

  beginning of year $4,312,708 · end of year $3,187,421

• 27 · Net assets without donor restrictions

  beginning of year $173,371,130 · end of year $180,334,055

• 28 · Net assets with donor restrictions

  beginning of year $275,411,010 · end of year $287,492,033

The filer's explanations (Part III)

SCHEDULE J PART I LINE 1A

CERTAIN BENEFITS PROVIDED A HOUSE IS PROVIDED TO THE PRESIDENT, AT THE CONVENIENCE OF THE EMPLOYER AS A CONDITION OF EMPLOYMENT. THE ESTIMATED VALUE WAS NOT INCLUDED IN TAXABLE INCOME.

SCHEDULE J PART I LINE 3

COMPENSATION OF THE TOP MANAGEMENT OFFICIAL PRESIDENT/CEO'S COMPENSATION 1. ANNUALLY THE PRESIDENT ESTABLISHES HIS PERFORMANCE GOALS IN CONSULTATION WITH THE EXECUTIVE COMMITTEE AND THE BOARD OF TRUSTEES. 2. ANNUALLY THE PRESIDENT REVIEWS HIS PROGRESS ON THOSE GOALS WITH THE EXECUTIVE COMMITTEE WHO DOCUMENTS A PERFORMANCE REVIEW WITH THE PRESIDENT. 3. PERIODICALLY, THE EXECUTIVE COMMITTEE PERFORMS A COMPARATIVE REVIEW OF THE PRESIDENT'S COMPENSATION AGAINST THE ORGANIZATION'S PEER INSTITUTIONS. 4. PERIODICALLY AND IN CERTAIN CASES (I.E. THE ARRIVAL OF A NEW PRESIDENT), AN OUTSIDE COMPENSATION CONSULTANT MAY ADVISE THE EXECUTIVE COMMITTEE ON PRESIDENTIAL COMPENSATION. 5. BASED ON THE ABOVE, THE EXECUTIVE COMMITTEE ESTABLISHES THE PRESIDENT'S COMPENSATION FOR THE FOLLOWING YEAR. 6. THE EXECUTIVE COMMITTEE DOCUMENTS THE REASONS FOR ESTABLISHING THE NEW COMPENSATION AMOUNT. 7. THE EXECUTIVE COMMITTEE THEN RENEWS THE PRESIDENT'S CONTRACT FOR AN ADDITIONAL TERM AT THE NEW COMPENSATION LEVEL.

SCHEDULE J PART I LINE 4B

SUPPLEMENTAL NONQUALIFIED PLAN THE ORGANIZATION HAS A 457(B) DEFERRED COMPENSATION PLAN, LIMITED TO MANAGEMENT OR HIGHLY COMPENSATED EMPLOYEES. PURSUANT TO THE SCHEDULE J INSTRUCTIONS THE LINE IS MARKED NO. THE DEFERRED COMPENSATION IS INVESTED WITH TIAA-CREF AND IS CONSIDERED THE ORGANIZATION'S PROPERTY UNTIL THE EMPLOYEE WITHDRAWS THE FUNDS. THE NON-VESTED AMOUNTS ARE INCLUDED IN THE DEFERRED COMPENSATION OF THE EMPLOYEE.