Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $2,395,005

• 1g · Noncash contributions included above

  $155,233

• 2a · Program service revenue: TUITION AND FEES

  total $21,443,485 · related or exempt $21,443,485

• 2b · Program service revenue: SCHOOL ACTIVITY REVENUE

  total $766,359 · related or exempt $766,359

• 2c · Program service revenue: SUMMER PROGRAM REVENUE

  total $722,243 · related or exempt $722,243

• 3 · Investment income

  total $1,227,458 · excluded $1,227,458

• 7a · Gross sales of assets other than inventory

  securities $2,225,989 · other assets $3,251

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

  securities $1,612,381 · other assets $0

• 7c · Gain or loss

  securities $613,608 · other assets $3,251

• 7d · Net gain or loss

  total $616,859 · excluded $616,859

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $5,006,124 · program services $5,006,124

• 5 · Compensation of officers, directors and key employees

  total $1,598,118 · program services $787,453 · management and general $548,129 · fundraising $262,536

• 7 · Other salaries and wages

  total $8,193,675 · program services $5,954,966 · management and general $1,218,175 · fundraising $1,020,534

• 8 · Pension plan contributions

  total $669,383 · program services $526,133 · management and general $76,588 · fundraising $66,662

• 9 · Other employee benefits

  total $2,200,453 · program services $1,676,929 · management and general $291,755 · fundraising $231,769

• 10 · Payroll taxes

  total $662,849 · program services $489,302 · management and general $99,943 · fundraising $73,604

• 11b · Fees: legal

  total $23,215 · management and general $23,215

• 11c · Fees: accounting

  total $66,534 · management and general $66,534

• 11f · Fees: investment management

  total $669,838 · management and general $669,838

• 12 · Advertising and promotion

  total $201,025 · program services $33,421 · management and general $83,802 · fundraising $83,802

• 13 · Office expenses

  total $383,225 · program services $97,039 · management and general $41,335 · fundraising $244,851

• 14 · Information technology

  total $533,760 · program services $496,473 · management and general $29,437 · fundraising $7,850

• 16 · Occupancy

  total $2,608,663 · program services $2,426,428 · management and general $143,870 · fundraising $38,365

• 17 · Travel

  total $349,008 · program services $89,720 · management and general $97,890 · fundraising $161,398

• 19 · Conferences, conventions and meetings

  total $63,951 · program services $12,790 · management and general $47,963 · fundraising $3,198

• 20 · Interest

  total $479,296 · program services $442,869 · management and general $28,758 · fundraising $7,669

• 22 · Depreciation, depletion and amortization

  total $3,705,140 · program services $3,423,550 · management and general $222,308 · fundraising $59,282

• 24a · Other expenses: RESIDENTIAL SERVICES

  total $713,971 · program services $713,971

• 24b · Other expenses: BAD DEBT

  total $525,974 · program services $525,974

• 24c · Other expenses: ATHLETICS

  total $426,591 · program services $426,591

• 24d · Other expenses: SUPPLIES

  total $386,600 · program services $99,384 · management and general $108,434 · fundraising $178,782

• 24e · All other expenses

  total $645,074 · program services $645,074

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,200 · end of year $950

• 2 · Savings and temporary cash investments

  beginning of year $12,060,971 · end of year $11,155,064

• 3 · Pledges and grants receivable

  beginning of year $3,784,865 · end of year $794,870

• 4 · Accounts receivable

  beginning of year $48,514 · end of year $90,196

• 8 · Inventories for sale or use

  beginning of year $150,010 · end of year $145,842

• 9 · Prepaid expenses and deferred charges

  beginning of year $130,930 · end of year $261,112

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

  $99,835,860

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

  $35,476,079

• 10c · Land, buildings and equipment, net

  beginning of year $66,054,643 · end of year $64,359,781

• 11 · Investments: publicly traded securities

  beginning of year $66,832,907 · end of year $76,734,238

• 12 · Investments: other securities

  beginning of year $3,093,346 · end of year $3,415,975

• 17 · Accounts payable and accrued expenses

  beginning of year $1,025,643 · end of year $1,033,970

• 19 · Deferred revenue

  beginning of year $5,539,737 · end of year $5,682,250

• 23 · Secured mortgages and notes payable

  beginning of year $14,613,460 · end of year $14,408,216

• 25 · Other liabilities

  beginning of year $60,000 · end of year $100,210

• 27 · Net assets without donor restrictions

  beginning of year $73,771,670 · end of year $73,801,490

• 28 · Net assets with donor restrictions

  beginning of year $57,147,876 · end of year $61,931,892

The filer's explanations (Part III)

PART I, LINE 1A

ON CAMPUS HOUSING IS PROVIDED FOR THE HEAD OF SCHOOL AND OTHER FACULTY MEMBERS WHO ALL HAVE IN-HOUSE RESIDENT RESPONSIBILITIES AND FOR THE CONVENIENCE OF HOLDERNESS SCHOOL.