Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $379,347

• 1f · All other contributions, gifts and grants

  $11,216,839

• 1g · Noncash contributions included above

  $4,008,226

• 2a · Program service revenue: TUITION AND FEES

  total $61,831,384 · related or exempt $61,831,384

• 2b · Program service revenue: SALES OF AUXILIARY ENT

  total $5,081,023 · related or exempt $5,081,023

• 3 · Investment income

  total $1,398,072 · excluded $1,398,072

• 6a · Gross rents

  real property $72,968

• 6b · Less rental expenses

  real property $141,157

• 6c · Rental income or loss

  real property -$68,189

• 6d · Net rental income or loss

  total -$68,189 · excluded -$68,189

• 7a · Gross sales of assets other than inventory

  securities $67,576,955

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

  securities $40,856,588 · other assets $30,050

• 7c · Gain or loss

  securities $26,720,367 · other assets -$30,050

• 7d · Net gain or loss

  total $26,690,317 · excluded $26,690,317

• 11a · Other revenue: INSURANCE REIMBURSEMEN

  total $187,766 · excluded $187,766

• 11e · Other revenue, total

  $187,766

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $12,140,885 · program services $12,140,885

• 3 · Grants to foreign organizations and individuals

  total $631,416 · program services $631,416

• 5 · Compensation of officers, directors and key employees

  total $1,527,145 · program services $64,476 · management and general $1,054,327 · fundraising $408,342

• 7 · Other salaries and wages

  total $25,029,298 · program services $23,073,746 · management and general $1,772,117 · fundraising $183,435

• 8 · Pension plan contributions

  total $1,207,768 · program services $1,052,310 · management and general $128,985 · fundraising $26,473

• 9 · Other employee benefits

  total $2,061,028 · program services $1,795,742 · management and general $215,674 · fundraising $49,612

• 10 · Payroll taxes

  total $1,825,121 · program services $1,590,200 · management and general $189,650 · fundraising $45,271

• 11b · Fees: legal

  total $42,194 · management and general $42,194

• 11c · Fees: accounting

  total $106,064 · management and general $106,064

• 11f · Fees: investment management

  total $30,195 · management and general $30,195

• 11g · Fees: other

  total $4,169,708 · program services $3,692,049 · management and general $429,968 · fundraising $47,691

• 12 · Advertising and promotion

  total $397,567 · program services $396,968 · management and general $599

• 13 · Office expenses

  total $1,710,775 · program services $1,408,280 · management and general $247,170 · fundraising $55,325

• 14 · Information technology

  total $742,033 · program services $461,293 · management and general $280,740

• 16 · Occupancy

  total $1,462,003 · program services $1,390,983 · management and general $71,020

• 17 · Travel

  total $424,996 · program services $341,937 · management and general $55,281 · fundraising $27,778

• 20 · Interest

  total $994,019 · program services $934,410 · management and general $59,609

• 22 · Depreciation, depletion and amortization

  total $3,381,227 · program services $3,178,464 · management and general $190,155 · fundraising $12,608

• 23 · Insurance

  total $980,258 · program services $121,086 · management and general $859,172

• 24a · Other expenses: RECRUITING

  total $7,709,826 · program services $7,705,605 · management and general $4,221

• 24b · Other expenses: FOOD AND DINING SERVICE

  total $2,181,701 · program services $2,181,691 · management and general $10

• 24c · Other expenses: RENTAL

  total $1,709,861 · program services $1,709,861

• 24d · Other expenses: BAD DEBT

  total $812,986 · management and general $812,986

• 24e · All other expenses

  total $2,022,080 · program services $1,537,608 · management and general $484,472

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,905,077 · end of year $2,275,565

• 2 · Savings and temporary cash investments

  beginning of year $841,786 · end of year $2,775,115

• 3 · Pledges and grants receivable

  beginning of year $6,760,826 · end of year $10,141,679

• 4 · Accounts receivable

  beginning of year $2,657,686 · end of year $2,697,580

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

  $109,301,014

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

  $51,155,942

• 10c · Land, buildings and equipment, net

  beginning of year $51,996,590 · end of year $58,145,072

• 11 · Investments: publicly traded securities

  beginning of year $68,286,331 · end of year $72,719,906

• 12 · Investments: other securities

  beginning of year $1,077,476 · end of year $748,555

• 15 · Other assets

  beginning of year $28,864,583 · end of year $28,826,632

• 17 · Accounts payable and accrued expenses

  beginning of year $4,128,975 · end of year $4,082,310

• 19 · Deferred revenue

  beginning of year $5,298,460 · end of year $4,635,511

• 23 · Secured mortgages and notes payable

  beginning of year $19,092,530 · end of year $23,992,749

• 25 · Other liabilities

  beginning of year $15,859,370 · end of year $12,753,962

• 27 · Net assets without donor restrictions

  beginning of year $49,218,727 · end of year $53,686,108

• 28 · Net assets with donor restrictions

  beginning of year $70,792,293 · end of year $79,179,464

The filer's explanations (Part III)

PART I, LINE 1A

DISCRETIONARY SPENDING ACCOUNT - THE UNIVERSITY'S PRESIDENT RECEIVED A DISCRETIONARY SPENDING ALLOWANCE THAT IS REPORTED IN TAXABLE INCOME. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE - THE PRESIDENT IS PROVIDED WITH A HOUSING ALLOWANCE THAT IS REPORTED IN TAXABLE INCOME. SOCIAL CLUB DUES - THE UNIVERSITY PAYS DUES ON BEHALF OF THE PRESIDENT. PERSONAL SERVICES - CLEANING SERVICES AND LAWN MAINTENANCE ARE PROVIDED FOR THE UNIVERSITY'S PRESIDENT'S PERSONAL RESIDENCE. THE VALUE OF THIS BENEFIT IS INCLUDED IN TAXABLE INCOME.