Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $256,799

• 1f · All other contributions, gifts and grants

  $5,576,158

• 1g · Noncash contributions included above

  $49,087

• 2a · Program service revenue: Tuition and Fees - University

  total $54,946,288 · related or exempt $54,946,288

• 2b · Program service revenue: Room and Board

  total $15,771,429 · related or exempt $15,771,429

• 2c · Program service revenue: Tuition and Fees - Elementary School

  total $4,389,116 · related or exempt $4,389,116

• 2d · Program service revenue: Independent Operations

  total $3,985,825 · related or exempt $3,985,825

• 2f · All other program service revenue

  total $1,157,267 · related or exempt $1,157,267 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $912,436 · excluded $912,436

• 5 · Royalties

  total $20,191,767 · excluded $20,191,767

• 6a · Gross rents

  real property $466,732 · personal property $72,920

• 6b · Less rental expenses

  real property $552,941 · personal property $26,999

• 6c · Rental income or loss

  real property -$86,209 · personal property $45,921

• 6d · Net rental income or loss

  total -$40,288 · unrelated business $45,921 · excluded -$86,209

• 7a · Gross sales of assets other than inventory

  securities $2,808,417

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

  securities $2,805,437

• 7c · Gain or loss

  securities $2,980 · other assets $0

• 7d · Net gain or loss

  total $2,980 · excluded $2,980

• 10a · Gross sales of inventory

  $920,009

• 10b · Cost of goods sold

  $219,572

• 10c · Net income from sales of inventory

  total $700,437 · related or exempt $700,437

• 11a · Other revenue: Management Fee Income

  total $6,435,083 · related or exempt $6,435,083

• 11b · Other revenue: Productions

  total $193,790 · unrelated business $193,790

• 11c · Other revenue: Printing Services

  total $469,945 · unrelated business $469,945

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $7,098,818

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $163,058 · program services $163,058

• 2 · Grants to domestic individuals

  total $22,350,143 · program services $22,350,143

• 5 · Compensation of officers, directors and key employees

  total $903,606 · program services $667,701 · management and general $180,721 · fundraising $55,184

• 6 · Compensation of disqualified persons

  total $201,044 · management and general $201,044

• 7 · Other salaries and wages

  total $32,788,227 · program services $25,523,205 · management and general $6,869,119 · fundraising $395,903

• 8 · Pension plan contributions

  total $503,192 · program services $389,693 · management and general $100,639 · fundraising $12,860

• 9 · Other employee benefits

  total $14,586,169 · program services $12,379,984 · management and general $2,059,907 · fundraising $146,278

• 10 · Payroll taxes

  total $2,938,941 · program services $2,257,925 · management and general $646,289 · fundraising $34,727

• 11b · Fees: legal

  total $334,036 · program services $50,432 · management and general $256,282 · fundraising $27,322

• 11c · Fees: accounting

  total $151,272 · program services $75,636 · management and general $75,636

• 11f · Fees: investment management

  total $22,629 · management and general $22,629

• 11g · Fees: other

  total $2,902,198 · program services $1,603,687 · management and general $1,270,459 · fundraising $28,052

• 12 · Advertising and promotion

  total $1,295,854 · management and general $1,281,113 · fundraising $14,741

• 13 · Office expenses

  total $3,449,363 · program services $1,948,417 · management and general $1,355,828 · fundraising $145,118

• 14 · Information technology

  total $3,437,933 · program services $2,337,239 · management and general $1,009,452 · fundraising $91,242

• 16 · Occupancy

  total $6,316,529 · program services $4,081,258 · management and general $2,229,321 · fundraising $5,950

• 17 · Travel

  total $2,110,469 · program services $1,400,954 · management and general $647,155 · fundraising $62,360

• 20 · Interest

  total $540,559 · management and general $540,559

• 22 · Depreciation, depletion and amortization

  total $5,243,126 · program services $5,094,940 · management and general $148,186

• 23 · Insurance

  total $1,263,897 · program services $108,923 · management and general $1,154,974

• 24a · Other expenses: Aramark Food Service

  total $7,030,109 · program services $6,646,233 · management and general $367,128 · fundraising $16,748

• 24b · Other expenses: Repairs

  total $468,498 · program services $154,128 · management and general $310,146 · fundraising $4,224

• 24c · Other expenses: Plant

  total $2,728,077 · program services $2,728,077

• 24e · All other expenses

  total $4,105,301 · program services $3,240,953 · management and general $822,495 · fundraising $41,853

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,086,838 · end of year $1,880,962

• 4 · Accounts receivable

  beginning of year $1,974,411 · end of year $3,493,557

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $252,080 · end of year $265,179

• 9 · Prepaid expenses and deferred charges

  beginning of year $576,730 · end of year $677,238

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

  $163,369,634

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

  $109,747,116

• 10c · Land, buildings and equipment, net

  beginning of year $56,200,466 · end of year $53,622,518

• 11 · Investments: publicly traded securities

  beginning of year $17,839,350 · end of year $22,525,665

• 12 · Investments: other securities

  beginning of year $6,056,140 · end of year $5,681,777

• 13 · Investments: program-related

  beginning of year $1,107,646 · end of year $1,064,758

• 15 · Other assets

  beginning of year $17,364,373 · end of year $17,074,777

• 17 · Accounts payable and accrued expenses

  beginning of year $7,115,806 · end of year $6,057,807

• 19 · Deferred revenue

  beginning of year $2,510,126 · end of year $2,391,950

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $17,692,199 · end of year $17,367,978

• 27 · Net assets without donor restrictions

  beginning of year $55,920,178 · end of year $54,434,736

• 28 · Net assets with donor restrictions

  beginning of year $23,219,725 · end of year $26,033,960

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Discretionary spending account

The board of directors reviews and approves the annual budget. Included in the annual budget is a discretionary spending amount for the President. The discretionary account is used by the President to fund travel-related expenses, BJU-related events, etc. The President's office submits invoices and expense reimbursement forms (with proper supporting documentation) to the University for payment as required. Expenditures/reimbursements are made in accordance with the University's disbursement policies and procedures.