Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,439,620

• 1f · All other contributions, gifts and grants

  $4,588,314

• 2a · Program service revenue: TUITION AND FEES

  total $79,066,893 · related or exempt $79,066,893

• 3 · Investment income

  total $1,619,288 · unrelated business $99,319 · excluded $1,519,969

• 6a · Gross rents

  real property $3,513,297

• 6b · Less rental expenses

  real property $1,442,535

• 6c · Rental income or loss

  real property $2,070,762

• 6d · Net rental income or loss

  total $2,070,762 · excluded $2,070,762

• 7a · Gross sales of assets other than inventory

  securities $68,007,980 · other assets $30,200,000

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

  securities $63,482,916 · other assets $6,426,826

• 7c · Gain or loss

  securities $4,525,064 · other assets $23,773,174

• 7d · Net gain or loss

  total $28,298,238 · excluded $28,298,238

• 11a · Other revenue: OTHER INCOME

  total $612,661 · related or exempt $612,661

• 11b · Other revenue: PARKING LOT INCOME

  total $30,545 · unrelated business $30,545

• 11e · Other revenue, total

  $643,206

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $16,830,045 · program services $16,830,045

• 5 · Compensation of officers, directors and key employees

  total $3,494,891 · program services $1,667,629 · management and general $1,827,262

• 7 · Other salaries and wages

  total $44,564,183 · program services $37,354,123 · management and general $6,798,699 · fundraising $411,361

• 8 · Pension plan contributions

  total $2,498,640 · program services $2,274,214 · management and general $198,383 · fundraising $26,043

• 9 · Other employee benefits

  total $5,071,273 · program services $4,543,948 · management and general $464,715 · fundraising $62,610

• 10 · Payroll taxes

  total $3,417,790 · program services $3,164,491 · management and general $225,325 · fundraising $27,974

• 11b · Fees: legal

  total $75,886 · management and general $75,886

• 11c · Fees: accounting

  total $203,550 · management and general $203,550

• 11d · Fees: lobbying

  total $12,000 · management and general $12,000

• 11f · Fees: investment management

  total $840,730 · management and general $840,730

• 12 · Advertising and promotion

  total $469,828 · program services $450,933 · management and general $18,895

• 13 · Office expenses

  total $909,747 · program services $479,379 · management and general $430,022 · fundraising $346

• 14 · Information technology

  total $3,208,952 · program services $36,738 · management and general $3,172,135 · fundraising $79

• 16 · Occupancy

  total $5,379,048 · program services $5,168,350 · management and general $210,698

• 17 · Travel

  total $786,110 · program services $685,159 · management and general $93,881 · fundraising $7,070

• 19 · Conferences, conventions and meetings

  total $72,691 · program services $68,425 · management and general $4,266

• 20 · Interest

  total $4,722,150 · program services $2,053,876 · management and general $2,668,274

• 22 · Depreciation, depletion and amortization

  total $7,622,187 · program services $3,457,657 · management and general $4,164,530

• 23 · Insurance

  total $1,457,877 · program services $487,444 · management and general $970,433

• 24a · Other expenses: FOOD SERVICE

  total $3,872,806 · program services $3,872,806

• 24b · Other expenses: CUSTODIAL CONTRACTS

  total $3,494,533 · program services $3,494,533

• 24c · Other expenses: SECURITY CONTRACTS

  total $1,482,461 · program services $1,482,461

• 24d · Other expenses: TEMP AGENCY PAYMENTS

  total $1,243,687 · program services $834,888 · management and general $408,799

• 24e · All other expenses

  total $5,086,922 · program services $2,809,913 · management and general $2,270,430 · fundraising $6,579

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,959,579 · end of year $1,622,286

• 2 · Savings and temporary cash investments

  beginning of year $1,359,101 · end of year $1,651,184

• 3 · Pledges and grants receivable

  beginning of year $2,203,784 · end of year $3,465,641

• 4 · Accounts receivable

  beginning of year $17,912,649 · end of year $11,556,464

• 7 · Other notes and loans receivable

  beginning of year $887,130 · end of year $478,256

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,882,573 · end of year $5,551,671

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

  $310,924,213

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

  $106,281,234

• 10c · Land, buildings and equipment, net

  beginning of year $202,628,682 · end of year $204,642,979

• 11 · Investments: publicly traded securities

  beginning of year $52,085,934 · end of year $50,624,046

• 12 · Investments: other securities

  beginning of year $133,342,806 · end of year $136,154,818

• 15 · Other assets

  beginning of year $7,726,745 · end of year $7,154,403

• 17 · Accounts payable and accrued expenses

  beginning of year $15,142,030 · end of year $14,795,718

• 18 · Grants payable

  beginning of year $808,992 · end of year $267,452

• 19 · Deferred revenue

  beginning of year $9,536,130 · end of year $8,703,459

• 20 · Tax-exempt bond liabilities

  beginning of year $117,835,902 · end of year $113,478,736

• 23 · Secured mortgages and notes payable

  beginning of year $14,645,200 · end of year $9,000,000

• 25 · Other liabilities

  beginning of year $1,172,376 · end of year $1,233,020

• 27 · Net assets without donor restrictions

  beginning of year $225,812,644 · end of year $232,580,258

• 28 · Net assets with donor restrictions

  beginning of year $38,035,709 · end of year $42,843,105

The filer's explanations (Part III)

PART I, LINE 1A

THE PRESIDENT RESIDES IN UNIVERSITY-OWNED HOUSING, WHICH IS ON THE SOUTH CAMPUS. BY LOCATING HER IN CLOSE PROXIMITY TO THE UNIVERSITY, IT HELPS TO MAKE THE PRESIDENT AVAILABLE FOR THE DAILY INTERACTION BETWEEN THE COMMUNITY AND THE UNIVERSITY STAFF/STUDENTS/ALUMNI/DONORS AND PHYSICAL PLANTS. THE UNIVERSITY-PROVIDED HOUSING IS GEOGRAPHICALLY INTEGRATED WITH THE UNIVERSITY'S EDUCATIONAL PROPERTY. THE PRESIDENT PERFORMS MANY UNIVERSITY TASKS AND FUNCTIONS AT THE RESIDENCE. THE RESIDENCE IS FURNISHED FOR THE CONVENIENCE OF THE UNIVERSITY AND IS REQUIRED TO BE OCCUPIED BY THE PRESIDENT AS A CONDITION OF HER EMPLOYMENT. AS THE UNIVERSITY'S PRINCIPAL FUND-RAISER, THE PRESIDENT ENTERTAINS ACTUAL OR POTENTIAL BENEFACTORS, VISITING DIGNITARIES AND COMMUNITY LEADERS IN THE RESIDENCE. THE HEAVINESS OF THE PRESIDENT'S ADMINISTRATIVE WORKLOAD, THE PRESENCE OF UNIVERSITY-RELATED SOCIAL FUNCTIONS AND THE NUMBER OF CONFERENCES SCHEDULED WITH STUDENTS OR FACULTY MEMBERS REQUIRE ACCESS TO THE MAJORITY OF THE RESIDENCE. IN ADDITION, THE UNIVERSITY CONDUCTS OTHER EVENTS THAT ARE ESSENTIAL TO ITS EDUCATIONAL EXEMPTION. IN LIEU OF THE AFOREMENTIONED INTRICACIES OF MULTIPLE USES BY MANY MULTIPLE PARTIES INVOLVED, IT IS IMPRACTICAL AND WOULD NOT BE CONSIDERED AN ACCURATE CALCULATION OF THE FAIR MARKET VALUE OF QUALIFIED CAMPUS LODGING FURNISHED TO THE PRESIDENT. DUE TO THESE FACTORS, THE UNIVERSITY HAS DECIDED TO OMIT ENTERING THE ESTIMATED AMOUNT OF TAX FREE HOUSING ALLOWANCE PROVIDED IN COLUMN F OF FORM 990, PART VII, SECTION A AND SCHEDULE J, PART II, COLUMN D - "NONTAXABLE BENEFITS". THE UNIVERSITY PROVIDES A HOUSE CLEANER FOR THE PRESIDENT AND ALSO PERFORMS ALL NECESSARY MAINTENANCE ON THE HOME.

PART I, LINE 7

JONATHAN JEFFERSON, AMY RUTSTEIN-RILEY AND THOMAS ENGLEHARDT EACH RECEIVED A DISCRETIONARY BONUS IN CALENDAR 2022.