Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,365,803

• 1f · All other contributions, gifts and grants

  $17,665,792

• 1g · Noncash contributions included above

  $3,081,987

• 2a · Program service revenue: TUITION AND FEES

  total $70,667,345 · related or exempt $70,667,345

• 2b · Program service revenue: AUXILIARY SERVICES

  total $16,823,013 · related or exempt $16,463,797 · unrelated business $359,216

• 2c · Program service revenue: OTHER INCOME

  total $2,686,127 · related or exempt $2,686,127

• 2d · Program service revenue: BOOKSTORE

  total $50,473 · related or exempt $50,473

• 3 · Investment income

  total $1,913,793 · unrelated business $514,601 · excluded $1,399,192

• 5 · Royalties

  total $10,035 · excluded $10,035

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

  securities $123,668

• 7c · Gain or loss

  securities -$123,668

• 7d · Net gain or loss

  total -$123,668 · excluded -$123,668

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $51,378,879 · program services $51,378,879

• 5 · Compensation of officers, directors and key employees

  total $1,235,917 · program services $492,309 · management and general $542,238 · fundraising $201,370

• 7 · Other salaries and wages

  total $23,207,628 · program services $19,426,759 · management and general $2,044,235 · fundraising $1,736,634

• 8 · Pension plan contributions

  total $1,661,626 · program services $1,269,184 · management and general $234,071 · fundraising $158,371

• 9 · Other employee benefits

  total $5,332,394 · program services $4,072,990 · management and general $751,168 · fundraising $508,236

• 10 · Payroll taxes

  total $1,758,955 · program services $1,343,525 · management and general $247,782 · fundraising $167,648

• 11b · Fees: legal

  total $171,988 · management and general $171,988

• 11c · Fees: accounting

  total $148,125 · management and general $148,125

• 11g · Fees: other

  total $3,066,359 · program services $1,416,603 · management and general $1,440,646 · fundraising $209,110

• 12 · Advertising and promotion

  total $117,255 · program services $17,445 · management and general $99,177 · fundraising $633

• 13 · Office expenses

  total $3,200,032 · program services $2,066,641 · management and general $919,208 · fundraising $214,183

• 14 · Information technology

  total $1,309,971 · program services $807,234 · management and general $497,426 · fundraising $5,311

• 16 · Occupancy

  total $5,113,547 · program services $5,035,158 · management and general $78,389

• 17 · Travel

  total $2,290,443 · program services $1,769,358 · management and general $171,250 · fundraising $349,835

• 19 · Conferences, conventions and meetings

  total $107,052 · program services $75,665 · management and general $23,083 · fundraising $8,304

• 20 · Interest

  total $1,825,860 · program services $1,729,061 · management and general $96,799

• 22 · Depreciation, depletion and amortization

  total $9,141,653 · program services $8,784,161 · management and general $323,951 · fundraising $33,541

• 23 · Insurance

  total $736,069 · program services $736,069

• 24a · Other expenses: RESIDENTIAL EXPENSE

  total $6,520,786 · program services $6,520,786

• 24b · Other expenses: MAINTENANCE&REPAIRS

  total $1,899,963 · program services $1,615,810 · management and general $232,158 · fundraising $51,995

• 24c · Other expenses: PROGRAM/ATHLETICS

  total $1,671,400 · program services $1,671,400

• 24d · Other expenses: RECRUITING

  total $450,803 · program services $450,803

• 24e · All other expenses

  total $2,150,510 · program services $1,490,274 · management and general $595,327 · fundraising $64,909

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,926,423 · end of year $2,886,402

• 3 · Pledges and grants receivable

  beginning of year $6,653,232 · end of year $6,522,022

• 4 · Accounts receivable

  beginning of year $2,555,070 · end of year $3,898,332

• 8 · Inventories for sale or use

  beginning of year $112,097 · end of year $121,372

• 9 · Prepaid expenses and deferred charges

  beginning of year $988,027 · end of year $923,023

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

  $282,780,621

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

  $101,759,910

• 10c · Land, buildings and equipment, net

  beginning of year $186,079,741 · end of year $181,020,711

• 11 · Investments: publicly traded securities

  beginning of year $30,904,167 · end of year $33,078,283

• 12 · Investments: other securities

  beginning of year $257,258,302 · end of year $258,277,995

• 13 · Investments: program-related

  beginning of year $2,604,450 · end of year $2,064,737

• 15 · Other assets

  beginning of year $896,505 · end of year $671,865

• 17 · Accounts payable and accrued expenses

  beginning of year $12,713,150 · end of year $10,093,503

• 19 · Deferred revenue

  beginning of year $3,626,854 · end of year $3,529,817

• 20 · Tax-exempt bond liabilities

  beginning of year $50,572,095 · end of year $49,377,609

• 24 · Unsecured notes and loans payable

  beginning of year $5,461,549 · end of year $6,714,938

• 25 · Other liabilities

  beginning of year $9,807,540 · end of year $8,106,952

• 27 · Net assets without donor restrictions

  beginning of year $76,567,329 · end of year $84,860,246

• 28 · Net assets with donor restrictions

  beginning of year $331,229,497 · end of year $326,781,677

The filer's explanations (Part III)

PART I, LINE 1A

BENEFITS PROVIDED - THE PRESIDENT OF THE UNIVERSITY IS REQUIRED TO LIVE IN RESIDENCE AS PART OF HIS CONTRACT. THE PRESIDENT HOSTED OVER 44 EVENTS AT HIS RESIDENCE THIS YEAR. THE VALUE OF THE HOUSE HAS BEEN DETERMINED TO BE $50,000 PER YEAR. THE UNIVERSITY DOES NOT TREAT THIS BENEFIT AS TAXABLE INCOME TO THE PRESIDENT. CLEANING SERVICE FOR THE RESIDENCE IS PROVIDED ONCE PER WEEK AND AFTER HOSTED OWU EVENTS. SPOUSAL TRAVEL IS PERMITTED ONLY FOR THE PRESIDENT'S WIFE AND ONLY WHEN AN APPROPRIATE BUSINESS PURPOSE FOR THE TRIP HAS BEEN ESTABLISHED. THE PRESIDENT'S WIFE OCCASIONALLY ACCOMPANIES HIM FOR MEETINGS WITH TRUSTEES AND DONORS AS REQUESTED BY THE BOARD OF TRUSTEES AND OUTLINED IN THE PRESIDENT'S EMPLOYMENT CONTRACT. THIS SPOUSAL TRAVEL BENEFIT IS ADMINISTERED IN ACCORDANCE WITH ITS GUIDELINES. ON OCCASION, THE PRESIDENT RECEIVES A FREE UPGRADE TO FIRST CLASS TRAVEL DUE TO HIS STATUS WITH THE AIRLINE.

PART I, LINE 1B

WRITTEN REIMBURSEMENT POLICY - THE BENEFITS LISTED ABOVE WERE ENUMERATED IN THE PRESIDENT'S EMPLOYMENT CONTRACT. THIS CONTRACT WAS DELIBERATED ON AND REVIEWED BY THE BOARD OF TRUSTEES AND LEGAL COUNSEL.

PART I, LINE 4B

NONQUALIFIED DEFERRED COMPENSATION PLANS - THE UNIVERSITY SPONSORS A SECTION 457(B) AND SECTION 457(F) PLAN FOR CERTAIN EXECUTIVES. THE UNIVERSITY MADE CONTRIBUTIONS FOR ROCKWELL F. JONES OF $20,500 TO THE SECTION 457(B) PLAN AND $56,500 TO THE SECTION 457(F) PLAN. THE TOTAL CONTRIBUTONS OF $77,000 ARE INCLUDED IN PART II, COLUMN C FOR PRESIDENT JONES.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• 19 WILLIAMS MANAGER LLC

  PROPERTY MANAGEMENT · OH · income -$340,753 · assets $2,936,517

  Directly controlled by OWU

• 19 WILLIAMS DRIVE INVESTOR LLC

  INVESTMENTS · OH · income $0 · assets $417,369

  Directly controlled by OWU

Related partnerships

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

• OWU FUND LP

  EXCLUDED · INVESTMENTS · OH · 99.99% owned · share of income $5,890,296 · share of assets $180,932,117

  Directly controlled by OWU

• 19 WILLIAMS DRIVE LLC

  RELATED · REHAB OF FRATERNITY HOUSE · OH · 100% owned · share of income -$344,165 · share of assets $3,366,866

  Directly controlled by OWU

• 19 WILLIAM DRIVE HOLDINGS LLC

  RELATED · HOLDING COMPANY · OH · share of income -$344,165 · share of assets $2,936,537

  Directly controlled by 19 WILLDRHLDGSLLC