Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $306,869

• 1f · All other contributions, gifts and grants

  $367,784

• 2a · Program service revenue: TUITION

  total $24,265,782 · related or exempt $24,265,782

• 2b · Program service revenue: NON-CREDIT COURSES

  total $593,475 · related or exempt $593,475

• 3 · Investment income

  total $38,599 · excluded $38,599

• 5 · Royalties

  total $812 · excluded $812

• 7a · Gross sales of assets other than inventory

  other assets $79,139

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

  other assets $4,773

• 7c · Gain or loss

  other assets $74,366

• 7d · Net gain or loss

  total $74,366 · related or exempt $74,366

• 11a · Other revenue: EMPLOYER RETENTION CREDITS

  total $3,843,634 · excluded $3,843,634

• 11e · Other revenue, total

  $3,843,634

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $6,784,949 · program services $6,784,949

• 5 · Compensation of officers, directors and key employees

  total $1,094,888 · management and general $1,094,888

• 7 · Other salaries and wages

  total $8,746,557 · program services $8,180,992 · management and general $402,651 · fundraising $162,914

• 8 · Pension plan contributions

  total $256,023 · program services $231,213 · management and general $18,628 · fundraising $6,182

• 9 · Other employee benefits

  total $602,103 · program services $551,850 · management and general $37,614 · fundraising $12,639

• 10 · Payroll taxes

  total $776,167 · program services $667,292 · management and general $96,591 · fundraising $12,284

• 11b · Fees: legal

  total $112,952 · management and general $112,952

• 11c · Fees: accounting

  total $51,500 · program services $7,000 · management and general $44,500

• 11e · Fees: professional fundraising services

  total $4,255 · fundraising $4,255

• 11g · Fees: other

  total $901,247 · program services $44,685 · management and general $501,435 · fundraising $355,127

• 12 · Advertising and promotion

  total $256,726 · program services $151,537 · management and general $96,252 · fundraising $8,937

• 13 · Office expenses

  total $271,677 · program services $235,853 · management and general $33,471 · fundraising $2,353

• 14 · Information technology

  total $640,406 · program services $504,732 · management and general $97,845 · fundraising $37,829

• 16 · Occupancy

  total $1,344,038 · program services $1,320,692 · management and general $16,834 · fundraising $6,512

• 17 · Travel

  total $113,763 · program services $91,447 · management and general $21,504 · fundraising $812

• 19 · Conferences, conventions and meetings

  total $156,401 · program services $134,102 · management and general $6,401 · fundraising $15,898

• 20 · Interest

  total $396,295 · program services $366,573 · management and general $20,805 · fundraising $8,917

• 22 · Depreciation, depletion and amortization

  total $1,505,709 · program services $1,415,367 · management and general $60,228 · fundraising $30,114

• 23 · Insurance

  total $551,734 · program services $524,254 · management and general $19,838 · fundraising $7,642

• 24a · Other expenses: MISCELLANEOUS

  total $252,939 · program services $93,511 · management and general $159,352 · fundraising $76

• 24b · Other expenses: INTERNET

  total $209,537 · program services $194,869 · management and general $10,477 · fundraising $4,191

• 24c · Other expenses: JANITORIAL EXPENSE

  total $201,148 · program services $191,162 · management and general $7,209 · fundraising $2,777

• 24d · Other expenses: UTILITIES

  total $189,839 · program services $181,954 · management and general $5,692 · fundraising $2,193

• 24e · All other expenses

  total $779,692 · program services $650,117 · management and general $78,931 · fundraising $50,644

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,742,224 · end of year $14,259,942

• 2 · Savings and temporary cash investments

  beginning of year $29,828 · end of year $29,939

• 4 · Accounts receivable

  beginning of year $363,955 · end of year $4,072,412

• 9 · Prepaid expenses and deferred charges

  beginning of year $874,201 · end of year $940,746

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

  $37,149,689

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

  $16,959,096

• 10c · Land, buildings and equipment, net

  beginning of year $20,198,883 · end of year $20,190,593

• 12 · Investments: other securities

  beginning of year $12,407,951 · end of year $4,039,383

• 15 · Other assets

  beginning of year $400,289 · end of year $1,307,680

• 17 · Accounts payable and accrued expenses

  beginning of year $2,018,290 · end of year $2,155,236

• 19 · Deferred revenue

  beginning of year $97,455 · end of year $133,970

• 20 · Tax-exempt bond liabilities

  beginning of year $12,912,438 · end of year $12,402,888

• 23 · Secured mortgages and notes payable

  beginning of year $21,645 · end of year $1,652

• 25 · Other liabilities

  beginning of year $0 · end of year $924,788

• 27 · Net assets without donor restrictions

  beginning of year $21,081,652 · end of year $25,301,195

• 28 · Net assets with donor restrictions

  beginning of year $3,885,851 · end of year $3,920,966

The filer's explanations (Part III)

PART I, LINE 4A

1. HELENE GARRISON, COO, VP OF ACADEMIC AFFAIRS, NINE MONTHS LUMP-SUM SEVERANCE PAYMENT, TOTALLING $198,925.