Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $16,124

• 1e · Government grants (contributions)

  $106,992

• 1f · All other contributions, gifts and grants

  $4,221,987

• 1g · Noncash contributions included above

  $186,435

• 2a · Program service revenue: TUITION, ROOM/BOARD, FEES

  total $2,855,228 · related or exempt $2,855,228

• 2b · Program service revenue: GALLERY

  total $403,012 · related or exempt $403,012

• 3 · Investment income

  total $449,273 · excluded $449,273

• 6a · Gross rents

  real property $105,485

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $105,485

• 6d · Net rental income or loss

  total $105,485 · related or exempt $105,485

• 7a · Gross sales of assets other than inventory

  securities $372,000

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

  securities $0 · other assets $2,149

• 7c · Gain or loss

  securities $372,000 · other assets -$2,149

• 7d · Net gain or loss

  total $369,851 · excluded $369,851

• 8a · Fundraising events: gross income

  $373,256

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

  $16,124

• 8b · Fundraising events: direct expenses

  $199,579

• 8c · Net income from fundraising events

  total $173,677 · excluded $173,677

• 10a · Gross sales of inventory

  $321,858

• 10b · Cost of goods sold

  $199,809

• 10c · Net income from sales of inventory

  total $122,049 · excluded $122,049

• 11a · Other revenue: MISCELLANEOUS

  total $37,494 · excluded $37,494

• 11b · Other revenue: UPS & POSTAGE SALES

  total $16,188 · excluded $16,188

• 11c · Other revenue: VISITOR MEALS

  total $7,763 · excluded $7,763

• 11e · Other revenue, total

  $61,445

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $120,000 · program services $120,000

• 5 · Compensation of officers, directors and key employees

  total $209,467 · management and general $177,768 · fundraising $31,699

• 7 · Other salaries and wages

  total $2,744,548 · program services $2,017,665 · management and general $374,256 · fundraising $352,627

• 8 · Pension plan contributions

  total $61,664 · program services $40,179 · management and general $13,226 · fundraising $8,259

• 9 · Other employee benefits

  total $513,971 · program services $350,492 · management and general $117,868 · fundraising $45,611

• 10 · Payroll taxes

  total $224,765 · program services $156,966 · management and general $38,257 · fundraising $29,542

• 11c · Fees: accounting

  total $224,773 · program services $139,125 · management and general $64,708 · fundraising $20,940

• 11g · Fees: other

  total $1,329,109 · program services $753,720 · management and general $500,965 · fundraising $74,424

• 12 · Advertising and promotion

  total $27,781 · program services $27,781

• 13 · Office expenses

  total $482,481 · program services $442,582 · management and general $39,047 · fundraising $852

• 14 · Information technology

  total $99,101 · program services $43,972 · management and general $25,150 · fundraising $29,979

• 16 · Occupancy

  total $387,866 · program services $378,715 · management and general $9,151

• 17 · Travel

  total $36,392 · program services $9,478 · management and general $11,536 · fundraising $15,378

• 19 · Conferences, conventions and meetings

  total $3,303 · program services $3,077 · fundraising $226

• 20 · Interest

  total $65,238 · management and general $65,238

• 22 · Depreciation, depletion and amortization

  total $1,353,147 · program services $1,258,287 · management and general $94,860

• 23 · Insurance

  total $280,309 · program services $225,119 · management and general $55,190

• 24a · Other expenses: FOOD

  total $319,932 · program services $319,932

• 24b · Other expenses: COMMISSIONS

  total $238,588 · program services $238,588

• 24c · Other expenses: EQUIPMENT AND MAINTENAN

  total $103,943 · program services $103,943

• 24d · Other expenses: MISCELLANEOUS

  total $57,240 · program services $26,965 · management and general $30,199 · fundraising $76

• 24e · All other expenses

  total $76,019 · program services $32,996 · management and general $38,966 · fundraising $4,057

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $895,603 · end of year $337,003

• 2 · Savings and temporary cash investments

  beginning of year $5,347,796 · end of year $7,284,926

• 4 · Accounts receivable

  beginning of year $319,906 · end of year $273,754

• 8 · Inventories for sale or use

  beginning of year $276,294 · end of year $295,904

• 9 · Prepaid expenses and deferred charges

  beginning of year $143,205 · end of year $144,128

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

  $38,248,535

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

  $16,107,947

• 10c · Land, buildings and equipment, net

  beginning of year $22,121,789 · end of year $22,140,588

• 11 · Investments: publicly traded securities

  beginning of year $45,255,828 · end of year $43,977,335

• 13 · Investments: program-related

  beginning of year $2,987,483 · end of year $2,824,960

• 15 · Other assets

  beginning of year $0 · end of year $26,260

• 17 · Accounts payable and accrued expenses

  beginning of year $668,859 · end of year $709,348

• 19 · Deferred revenue

  beginning of year $1,975,909 · end of year $2,046,444

• 23 · Secured mortgages and notes payable

  beginning of year $1,739,678 · end of year $1,702,898

• 27 · Net assets without donor restrictions

  beginning of year $25,744,495 · end of year $25,659,914

• 28 · Net assets with donor restrictions

  beginning of year $47,218,963 · end of year $47,186,254

The filer's explanations (Part III)

PART I, LINE 1A

THE ORGANIZATION REQUIRES THE EXECUTIVE DIRECTOR TO RESIDE ON CAMPUS AND THEREFORE HOUSING IS PROVIDED. DUE TO THIS BEING A REQUIREMENT OF THE ORGANIZATION AND FOR THE EMPLOYERS CONVENIENCE IT IS EXCLUDED FROM TAXABLE INCOME. THE ESTIMATED VALUE OF THE HOUSING PROVIDED IS $12,000 ANNUALLY.