Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $29,171

• 1d · Related organizations

  $11,275,501

• 1e · Government grants (contributions)

  $331,198

• 1f · All other contributions, gifts and grants

  $3,216,221

• 1g · Noncash contributions included above

  $1,178,227

• 2a · Program service revenue: GROSS TUITION & FEES

  total $21,573,257 · related or exempt $21,573,257

• 2b · Program service revenue: ROOM AND BOARD

  total $5,110,032 · related or exempt $5,110,032

• 2c · Program service revenue: OTHER MISC FEES

  total $827,411 · related or exempt $827,411

• 2d · Program service revenue: CAMPUS BOOKSTORE

  total $130,126 · related or exempt $127,523 · unrelated business $2,603

• 2e · Program service revenue: ATHLETIC TICKET SALES

  total $56,286 · related or exempt $56,286

• 2f · All other program service revenue

  total $51,337 · related or exempt $51,337

• 3 · Investment income

  total $1,232,625 · unrelated business $10,453 · excluded $1,222,172

• 5 · Royalties

  total $61,736 · excluded $61,736

• 7a · Gross sales of assets other than inventory

  securities $191,885 · other assets $50,570

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

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $191,885 · other assets $50,570

• 7d · Net gain or loss

  total $242,455 · excluded $242,455

• 8a · Fundraising events: gross income

  $7,537

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

  $29,171

• 8b · Fundraising events: direct expenses

  $7,867

• 8c · Net income from fundraising events

  total -$330 · excluded -$330

• 11a · Other revenue: INSURANCE PROCEEDS

  total $1,080,579 · excluded $1,080,579

• 11b · Other revenue: REIMBURSEMENTS

  total $1,240 · excluded $1,240

• 11c · Other revenue: CAMPUS VENDING

  total $786 · excluded $786

• 11e · Other revenue, total

  $1,082,605

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $11,415,416 · program services $11,415,416

• 2 · Grants to domestic individuals

  total $11,856,605 · program services $11,856,605

• 5 · Compensation of officers, directors and key employees

  total $536,817 · program services $208,317 · management and general $246,375 · fundraising $82,125

• 7 · Other salaries and wages

  total $8,287,049 · program services $6,320,288 · management and general $1,653,517 · fundraising $313,244

• 8 · Pension plan contributions

  total $102,713 · program services $81,172 · management and general $17,285 · fundraising $4,256

• 9 · Other employee benefits

  total $1,426,191 · program services $1,115,322 · management and general $248,137 · fundraising $62,732

• 10 · Payroll taxes

  total $626,233 · program services $473,786 · management and general $120,701 · fundraising $31,746

• 11b · Fees: legal

  total $168,265 · program services $112,037 · management and general $54,428 · fundraising $1,800

• 11c · Fees: accounting

  total $117,900 · management and general $117,900

• 11f · Fees: investment management

  total $139,507 · management and general $139,507

• 11g · Fees: other

  total $212,550 · program services $212,550

• 12 · Advertising and promotion

  total $57,507 · program services $38,106 · management and general $16,733 · fundraising $2,668

• 16 · Occupancy

  total $3,789,796 · program services $3,128,720 · management and general $655,993 · fundraising $5,083

• 17 · Travel

  total $732,144 · program services $534,917 · management and general $195,639 · fundraising $1,588

• 20 · Interest

  total $1,927,034 · program services $1,560,897 · management and general $365,106 · fundraising $1,031

• 22 · Depreciation, depletion and amortization

  total $2,674,452 · program services $2,166,307 · management and general $507,029 · fundraising $1,116

• 23 · Insurance

  total $18,969 · program services $14,351 · management and general $3,656 · fundraising $962

• 24a · Other expenses: UBI TAX

  total $6,207 · management and general $6,207

• 24b · Other expenses: OPERATIONAL SUPPLIES AN

  total $4,314,391 · program services $2,960,550 · management and general $1,314,143 · fundraising $39,698

• 24c · Other expenses: FOOD SERVICE

  total $1,491,234 · program services $1,491,234

• 24d · Other expenses: DUES & SUBS

  total $425,518 · program services $127,752 · management and general $295,352 · fundraising $2,414

• 24e · All other expenses

  total $228,150 · program services $184,802 · management and general $43,348

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,933,500 · end of year $5,788,341

• 3 · Pledges and grants receivable

  beginning of year $3,089,202 · end of year $1,821,064

• 4 · Accounts receivable

  beginning of year $7,627,331 · end of year $3,196,915

• 7 · Other notes and loans receivable

  beginning of year $11,446,346 · end of year $30,930

• 8 · Inventories for sale or use

  beginning of year $219,328 · end of year $215,053

• 9 · Prepaid expenses and deferred charges

  beginning of year $333,413 · end of year $273,769

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

  $152,304,843

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

  $74,229,945

• 10c · Land, buildings and equipment, net

  beginning of year $65,568,680 · end of year $78,074,898

• 11 · Investments: publicly traded securities

  beginning of year $54,460,095 · end of year $58,743,488

• 12 · Investments: other securities

  beginning of year $1,764,246 · end of year $1,317,246

• 15 · Other assets

  beginning of year $8,323,181 · end of year $5,459,437

• 17 · Accounts payable and accrued expenses

  beginning of year $2,715,070 · end of year $1,776,468

• 19 · Deferred revenue

  end of year $32,481

• 20 · Tax-exempt bond liabilities

  beginning of year $35,627,258 · end of year $35,743,568

• 23 · Secured mortgages and notes payable

  beginning of year $24,739 · end of year $16,562

• 24 · Unsecured notes and loans payable

  beginning of year $1,395,000 · end of year $1,395,000

• 25 · Other liabilities

  beginning of year $614,223 · end of year $462,172

• 27 · Net assets without donor restrictions

  beginning of year $51,180,228 · end of year $46,265,204

• 28 · Net assets with donor restrictions

  beginning of year $66,208,804 · end of year $69,229,686

The filer's explanations (Part III)

PART I, LINE 1A

SUSANNA BAXTER, PRESIDENT, IS PROVIDED AN ON-CAMPUS RESIDENCE.

Related corporations and trusts

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

• DOBBS TRUST

  T · CHARITABLE TRUST · NC · 100% owned · share of income $3,692 · share of assets $1,768,089 · controlled entity

  Directly controlled by LAGRANGE COLLEGE

• WILSON TRUST

  T · CHARITABLE TRUST · GA · 90% owned · share of income $3,431 · share of assets $319,245 · controlled entity

  Directly controlled by LAGRANGE COLLEGE

• CORN ART TRUST

  T · CHARITABLE TRUST · GA · 100% owned · share of income $5,730 · share of assets $141,409 · controlled entity

  Directly controlled by LAGRANGE COLLEGE