Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $27,349,689

• 1g · Noncash contributions included above

  $492,106

• 2a · Program service revenue: TUITION AND FEES

  total $46,947,828 · related or exempt $46,947,828

• 2b · Program service revenue: STUDENT ACTIVITIES

  total $423,278 · related or exempt $423,278

• 2c · Program service revenue: SUMMER PROGRAMS

  total $212,575 · related or exempt $162,645 · unrelated business $49,930

• 2d · Program service revenue: FACILITY RENTAL

  total $17,088 · unrelated business $17,088

• 3 · Investment income

  total $3,149,917 · unrelated business -$126,935 · excluded $3,276,852

• 7a · Gross sales of assets other than inventory

  securities $48,996,164

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

  securities $46,529,361

• 7c · Gain or loss

  securities $2,466,803

• 7d · Net gain or loss

  total $2,466,803 · unrelated business $15,448 · excluded $2,451,355

• 10a · Gross sales of inventory

  $605,824

• 10b · Cost of goods sold

  $461,719

• 10c · Net income from sales of inventory

  total $144,105 · excluded $144,105

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $10,290,654 · program services $10,290,654

• 5 · Compensation of officers, directors and key employees

  total $1,646,128 · program services $633,223 · management and general $534,221 · fundraising $478,684

• 6 · Compensation of disqualified persons

  total $293,017 · fundraising $293,017

• 7 · Other salaries and wages

  total $20,530,788 · program services $19,370,544 · management and general $331,719 · fundraising $828,525

• 8 · Pension plan contributions

  total $1,885,979 · program services $1,720,876 · management and general $38,829 · fundraising $126,274

• 9 · Other employee benefits

  total $3,333,833 · program services $3,082,262 · management and general $27,785 · fundraising $223,786

• 10 · Payroll taxes

  total $1,713,976 · program services $1,578,622 · management and general $25,740 · fundraising $109,614

• 11b · Fees: legal

  total $153,079 · management and general $153,079

• 11c · Fees: accounting

  total $96,848 · management and general $96,848

• 11f · Fees: investment management

  total $5,219,582 · management and general $5,219,582

• 13 · Office expenses

  total $96,983 · management and general $14,094 · fundraising $82,889

• 14 · Information technology

  total $684,445 · program services $684,445

• 16 · Occupancy

  total $4,159,321 · program services $3,982,960 · management and general $91,353 · fundraising $85,008

• 20 · Interest

  total $2,064,345 · management and general $2,064,345

• 22 · Depreciation, depletion and amortization

  total $7,013,960 · program services $4,173,922 · management and general $1,448,732 · fundraising $1,391,306

• 23 · Insurance

  total $865,448 · program services $692,358 · management and general $86,545 · fundraising $86,545

• 24a · Other expenses: INSTRUCTIONAL

  total $4,286,225 · program services $4,286,225

• 24b · Other expenses: FOOD SERVICES

  total $3,732,983 · program services $3,647,477 · management and general $23,908 · fundraising $61,598

• 24c · Other expenses: GENERAL

  total $3,008,289 · program services $2,891,954 · management and general $97,760 · fundraising $18,575

• 24d · Other expenses: DEVELOPMENT

  total $707,897 · fundraising $707,897

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $7,581,460 · end of year $11,337,484

• 3 · Pledges and grants receivable

  beginning of year $4,744,618 · end of year $12,120,264

• 4 · Accounts receivable

  beginning of year $11,028,955 · end of year $10,422,868

• 8 · Inventories for sale or use

  beginning of year $309,262 · end of year $373,397

• 9 · Prepaid expenses and deferred charges

  beginning of year $116,650 · end of year $170,583

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

  $272,865,328

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

  $108,177,533

• 10c · Land, buildings and equipment, net

  beginning of year $161,579,952 · end of year $164,687,795

• 11 · Investments: publicly traded securities

  beginning of year $71,363,408 · end of year $79,039,459

• 12 · Investments: other securities

  beginning of year $165,358,599 · end of year $170,073,548

• 15 · Other assets

  beginning of year $6,587,949 · end of year $7,898,805

• 17 · Accounts payable and accrued expenses

  beginning of year $5,650,029 · end of year $4,260,660

• 19 · Deferred revenue

  beginning of year $21,066,122 · end of year $22,171,227

• 20 · Tax-exempt bond liabilities

  beginning of year $61,742,512 · end of year $59,415,086

• 25 · Other liabilities

  beginning of year $476,571 · end of year $454,611

• 27 · Net assets without donor restrictions

  beginning of year $188,501,002 · end of year $194,945,772

• 28 · Net assets with donor restrictions

  beginning of year $151,234,617 · end of year $174,876,847

The filer's explanations (Part III)

PART I, LINE 1A

THE HEAD OF SCHOOL IS REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. CERTAIN OFFICERS AND OTHER HIGHLY COMPENSATED EMPLOYEES ARE ALSO PROVIDED HOUSING AS A CONDITION OF THEIR EMPLOYMENT. THE VALUE OF THE HOUSING IS REPORTED AS NONTAXABLE IN SCHEDULE J, PART II, COLUMN D. THE HOUSE WHERE THE HEAD OF SCHOOL RESIDES IS USED FOR MULTIPLE SCHOOL EVENTS. CLEANING SERVICES ARE PROVIDED FOR SCHOOL EVENTS. THIS IS NOT TREATED AS A TAXABLE BENEFIT.

PART I, LINE 4B

SHEILA CULBERT, RICHARD ESPOSITO, NATHAN FOLLANSBEE, AND WEBSTER TRENCHARD PARTICIPATE IN NONQUALIFIED DEFERRED COMPENSATION PLANS. THE PLANS HAVE A SUBSTANTIAL RISK OF FORFEITURE. IN CALENDAR YEAR 2022, THESE PARTICIPANTS RECEIVED CONTRIBUTIONS TO THEIR NONQUALIFED DEFERRED COMPENSATION PLANS AS FOLLOWS: SHEILA CULBERT $256,750 RICHARD ESPOSITO $30,000 NATHAN FOLLANSBEE $25,000 WEBSTER TRENCHARD $20,000 WEBSTER TRENCHARD RECEIVED A PAYMENT OF $69,926 FOR HIS VESTED DEFERRED COMPENSATION PLAN, AS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III).

PART I, LINE 7

PERFORMANCE MERIT BONUSES WERE PAID TO RICHARD ESPOSITO, NATHAN FOLLANSBEE AND WEBSTER TRENCHARD IN 2022.

Related corporations and trusts

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

• ADC CORPORATION

  C · REAL ESTATE RENTAL · CT · 100% owned · share of income $19,251 · share of assets $535,313 · controlled entity

  Directly controlled by THE LOOMIS INSTITUTE