Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $10,179,872

• 1e · Government grants (contributions)

  $129,525,027

• 1f · All other contributions, gifts and grants

  $13,470

• 1g · Noncash contributions included above

  $7,232,717

• 2a · Program service revenue: TUITION AND FEES

  total $81,411,328 · related or exempt $81,411,328

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $31,300,319 · related or exempt $31,300,319

• 2c · Program service revenue: ATHLETIC REVENUES

  total $2,423,018 · related or exempt $2,423,018

• 2d · Program service revenue: SALES & SERVICE OF ED DEPTS

  total $1,833,537 · related or exempt $1,833,537

• 2e · Program service revenue: COMMISSIONS

  total $270,351 · excluded $270,351

• 2f · All other program service revenue

  total $5,029,143 · related or exempt $5,029,143

• 3 · Investment income

  total $1,605,707 · excluded $1,605,707

• 6a · Gross rents

  real property $32,020

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $32,020

• 6d · Net rental income or loss

  total $32,020 · excluded $32,020

• 7a · Gross sales of assets other than inventory

  securities $4,670,279

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

  securities $4,187,310

• 7c · Gain or loss

  securities $482,969

• 7d · Net gain or loss

  total $482,969 · excluded $482,969

• 11a · Other revenue: SERVICE CONCESSION

  total $2,209,429 · excluded $2,209,429

• 11e · Other revenue, total

  $2,209,429

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $3,324,169 · program services $3,324,169

• 2 · Grants to domestic individuals

  total $41,814,335 · program services $41,814,335

• 3 · Grants to foreign organizations and individuals

  total $1,250,553 · program services $1,250,553

• 5 · Compensation of officers, directors and key employees

  total $5,386,455 · program services $933,023 · management and general $4,453,432

• 7 · Other salaries and wages

  total $66,039,253 · program services $44,813,483 · management and general $20,709,742 · fundraising $516,028

• 8 · Pension plan contributions

  total $12,767,356 · program services $9,192,428 · management and general $3,460,932 · fundraising $113,996

• 9 · Other employee benefits

  total $10,705,152 · program services $7,287,068 · management and general $3,362,931 · fundraising $55,153

• 10 · Payroll taxes

  total $6,306,712 · program services $4,096,521 · management and general $2,165,662 · fundraising $44,529

• 11b · Fees: legal

  total $357,872 · management and general $357,872

• 11c · Fees: accounting

  total $258,538 · program services $42 · management and general $258,496

• 11f · Fees: investment management

  total $100,633 · management and general $100,633

• 11g · Fees: other

  total $35,404,223 · program services $13,098,072 · management and general $22,232,410 · fundraising $73,741

• 12 · Advertising and promotion

  total $592,885 · program services $102,356 · management and general $490,529

• 13 · Office expenses

  total $2,457,617 · program services $535,836 · management and general $1,907,718 · fundraising $14,063

• 14 · Information technology

  total $5,715,462 · program services $1,425,572 · management and general $4,289,890

• 16 · Occupancy

  total $1,838,925 · program services $42,269 · management and general $1,796,656

• 17 · Travel

  total $3,819,161 · program services $3,761,994 · fundraising $57,167

• 19 · Conferences, conventions and meetings

  total $487,622 · program services $415,659 · management and general $69,641 · fundraising $2,322

• 20 · Interest

  total $4,001,159 · program services $19,812 · management and general $3,981,347

• 22 · Depreciation, depletion and amortization

  total $9,380,398 · program services $8,743,240 · management and general $637,158

• 23 · Insurance

  total $3,370,166 · program services $220,474 · management and general $3,149,692

• 24a · Other expenses: FOOD SERVICE

  total $11,498,365 · program services $590,096 · management and general $10,908,269

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $11,050,830 · program services $2,999,225 · management and general $8,051,405 · fundraising $200

• 24c · Other expenses: UTILITIES

  total $5,031,188 · program services $8,402 · management and general $5,022,786

• 24d · Other expenses: SUPPLIES

  total $4,076,424 · program services $3,890,354 · management and general $183,464 · fundraising $2,606

• 24e · All other expenses

  total $8,299,007 · program services $6,983,355 · management and general $1,310,515 · fundraising $5,137

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $34,846,523 · end of year $28,472,454

• 2 · Savings and temporary cash investments

  beginning of year $4,732,295 · end of year $4,984,472

• 3 · Pledges and grants receivable

  beginning of year $16,441,937 · end of year $20,042,918

• 7 · Other notes and loans receivable

  beginning of year $597,250 · end of year $971,243

• 9 · Prepaid expenses and deferred charges

  beginning of year $184,965 · end of year $248,910

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

  $560,319,968

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

  $213,470,932

• 10c · Land, buildings and equipment, net

  beginning of year $334,175,387 · end of year $346,849,036

• 11 · Investments: publicly traded securities

  beginning of year $15,148,095 · end of year $15,900,024

• 12 · Investments: other securities

  beginning of year $6,012,296 · end of year $6,702,428

• 13 · Investments: program-related

  beginning of year $20,719,484 · end of year $22,664,506

• 15 · Other assets

  beginning of year $79,354,747 · end of year $83,065,105

• 17 · Accounts payable and accrued expenses

  beginning of year $51,333,873 · end of year $49,825,459

• 19 · Deferred revenue

  beginning of year $6,396,078 · end of year $7,627,446

• 20 · Tax-exempt bond liabilities

  beginning of year $85,558,579 · end of year $81,601,269

• 23 · Secured mortgages and notes payable

  beginning of year $14,287,697 · end of year $25,382,565

• 25 · Other liabilities

  beginning of year $395,842,498 · end of year $393,400,373

• 27 · Net assets without donor restrictions

  beginning of year -$52,024,773 · end of year -$30,523,414

• 28 · Net assets with donor restrictions

  beginning of year $10,819,027 · end of year $2,587,398

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: THE PRESIDENT, AS PART OF HIS BENEFIT PACKAGE, RESIDES IN A UNIVERSITY-OWNED PROPERTY THAT IS LOCATED ON THE UNIVERSITY'S PREMISES. THE PRESIDENT IS REQUIRED TO ACCEPT THIS HOUSING AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY. ALL OF THIS BENEFIT WAS EXCLUDE-ABLE, AND THEREFORE EXCLUDED, FROM TAXABLE COMPENSATION. HEALTH CLUB DUES: THE UNIVERSITY PROVIDED MEMBERSHIP TO A HEALTH CLUB FOR THE PRESIDENT. ALL OF THIS BENEFIT WAS EXCLUDE-ABLE, AND THEREFORE EXCLUDED, FROM TAXABLE COMPENSATION. PERSONAL SERVICES: THE UNIVERSITY PROVIDED PERSONAL SERVICES TO THE PRESIDENT THAT ARE ANCILLARY TO THE BENEFITS HE RECEIVES WITH THE HOUSING PACKAGE. PERSONAL SERVICES INCLUDE A HOUSE MANAGER AND A CAR AND DRIVER. ALL OF THIS BENEFIT WAS EXCLUDE-ABLE, AND THEREFORE EXCLUDED, FROM TAXABLE COMPENSATION.