Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $53,567

• 1e · Government grants (contributions)

  $938,890

• 1f · All other contributions, gifts and grants

  $22,066,533

• 1g · Noncash contributions included above

  $1,739,115

• 2a · Program service revenue: TUITION & FEES

  total $69,469,299 · related or exempt $69,469,299

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $13,127,131 · related or exempt $13,097,533 · unrelated business $29,598

• 3 · Investment income

  total $15,499,167 · unrelated business $97,131 · excluded $15,402,036

• 4 · Income from investment of tax-exempt bond proceeds

  total $1,345,153 · excluded $1,345,153

• 5 · Royalties

  total $15,676 · excluded $15,676

• 7a · Gross sales of assets other than inventory

  securities $384,982,112 · other assets $440,682

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

  securities $362,174,510 · other assets $1,005,133

• 7c · Gain or loss

  securities $22,807,602 · other assets -$564,451

• 7d · Net gain or loss

  total $22,243,151 · excluded $22,243,151

• 8a · Fundraising events: gross income

  $0

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

  $53,567

• 8b · Fundraising events: direct expenses

  $1,157

• 8c · Net income from fundraising events

  total -$1,157 · excluded -$1,157

• 11a · Other revenue: CAR REGISTRATION FEES

  total $248,300 · related or exempt $248,300

• 11b · Other revenue: SUMMER STUDY ABROAD

  total $151,600 · related or exempt $151,600

• 11c · Other revenue: ORIENTATION FEES

  total $95,200 · related or exempt $95,200

• 11d · All other revenue

  total $1,026,313 · related or exempt $1,026,313

• 11e · Other revenue, total

  $1,521,413

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $40,719,762 · program services $40,719,762

• 3 · Grants to foreign organizations and individuals

  total $405,240 · program services $405,240

• 5 · Compensation of officers, directors and key employees

  total $1,942,009 · program services $651,175 · management and general $995,120 · fundraising $295,714

• 7 · Other salaries and wages

  total $28,456,961 · program services $23,156,890 · management and general $4,168,941 · fundraising $1,131,130

• 8 · Pension plan contributions

  total $1,545,877 · program services $1,270,214 · management and general $210,646 · fundraising $65,017

• 9 · Other employee benefits

  total $4,489,029 · program services $3,136,551 · management and general $1,221,189 · fundraising $131,289

• 10 · Payroll taxes

  total $2,145,168 · program services $1,689,669 · management and general $359,873 · fundraising $95,626

• 11b · Fees: legal

  total $228,968 · management and general $228,968

• 11c · Fees: accounting

  total $108,575 · management and general $108,575

• 11f · Fees: investment management

  total $12,220,905 · management and general $12,220,905

• 11g · Fees: other

  total $4,928,083 · program services $4,619,147 · management and general $305,664 · fundraising $3,272

• 12 · Advertising and promotion

  total $48,840 · program services $48,280 · management and general $560

• 13 · Office expenses

  total $1,012,451 · program services $735,810 · management and general $259,666 · fundraising $16,975

• 14 · Information technology

  total $2,721,041 · program services $1,568,201 · management and general $1,137,113 · fundraising $15,727

• 15 · Royalties

  total $6,205 · program services $6,205

• 16 · Occupancy

  total $3,290,433 · program services $2,986,165 · management and general $290,536 · fundraising $13,732

• 17 · Travel

  total $1,814,994 · program services $1,584,737 · management and general $160,800 · fundraising $69,457

• 19 · Conferences, conventions and meetings

  total $247,789 · program services $229,270 · management and general $17,427 · fundraising $1,092

• 20 · Interest

  total $2,263,153 · program services $1,971,424 · management and general $278,148 · fundraising $13,581

• 22 · Depreciation, depletion and amortization

  total $7,014,054 · program services $6,109,912 · management and general $862,048 · fundraising $42,094

• 23 · Insurance

  total $950,103 · program services $760,102 · management and general $186,676 · fundraising $3,325

• 24a · Other expenses: LIBRARY

  total $705,466 · program services $705,466

• 24b · Other expenses: MAINTENANCE

  total $682,040 · program services $594,251 · management and general $83,702 · fundraising $4,087

• 24c · Other expenses: ATHLETICS

  total $578,223 · program services $564,170 · management and general $14,053

• 24d · Other expenses: HOUSING

  total $271,270 · program services $269,008 · management and general $2,262

• 24e · All other expenses

  total $6,548,658 · program services $4,467,232 · management and general $1,934,556 · fundraising $146,870

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $853,054 · end of year -$350,741

• 2 · Savings and temporary cash investments

  beginning of year $33,047,467 · end of year $23,304,778

• 3 · Pledges and grants receivable

  beginning of year $9,692,277 · end of year $12,394,172

• 4 · Accounts receivable

  beginning of year $2,455,310 · end of year $1,918,550

• 7 · Other notes and loans receivable

  beginning of year $174,981 · end of year $915,502

• 8 · Inventories for sale or use

  beginning of year $122,662 · end of year $102,379

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,135,290 · end of year $1,547,997

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

  $271,152,588

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

  $122,984,381

• 10c · Land, buildings and equipment, net

  beginning of year $133,982,317 · end of year $148,168,207

• 11 · Investments: publicly traded securities

  beginning of year $4,157,312 · end of year $81,523,173

• 12 · Investments: other securities

  beginning of year $354,254,098 · end of year $368,535,055

• 15 · Other assets

  beginning of year $5,099,135 · end of year $5,297,579

• 17 · Accounts payable and accrued expenses

  beginning of year $6,555,929 · end of year $13,216,077

• 18 · Grants payable

  beginning of year $1,597,179 · end of year $1,074,252

• 19 · Deferred revenue

  beginning of year $3,519,932 · end of year $3,074,988

• 20 · Tax-exempt bond liabilities

  beginning of year $24,104,955 · end of year $103,557,196

• 23 · Secured mortgages and notes payable

  beginning of year $2,333,849 · end of year $2,388,260

• 25 · Other liabilities

  beginning of year $3,896,909 · end of year $3,388,232

• 27 · Net assets without donor restrictions

  beginning of year $172,863,160 · end of year $173,333,706

• 28 · Net assets with donor restrictions

  beginning of year $330,101,990 · end of year $343,323,940

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING ALLOWANCE AND RESIDENCE FOR PERSONAL USE AND PERSONAL SERVICES: THE UNIVERSITY REQUIRES THE PRESIDENT TO RESIDE IN THE TURNER FLEMING HOUSE, LOCATED ON CAMPUS, FOR THE CONVENIENCE OF THE UNIVERSITY, AS PART OF HER EMPLOYMENT CONTRACT WITH THE UNIVERSITY. THE TURNER FLEMING HOUSE IS USED BY THE PRESIDENT FOR PERSONAL RESIDENCE, HOSTING VARIOUS MEETINGS AND BUSINESS-RELATED SOCIAL EVENTS AND OTHER UNIVERSITY FUNCTIONS. THE UNIVERSITY PROVIDES HOUSEKEEPING, GROUNDS KEEPING, AND MAINTENANCE SERVICE CONSISTENT WITH OTHER UNIVERSITY BUILDINGS. THE VALUATION FOR PERSONAL USAGE OF THE TURNER FLEMING HOUSE, AS REPORTED IN HOUSING ALLOWANCE ON SCHEDULE J, PART II, COLUMN (D), NONTAXABLE BENEFITS, INCLUDES THE ESTIMATED FAIR MARKET RENTAL VALUE, UTILITIES, HOUSEKEEPING, AND GROUNDS KEEPING SERVICES. SOCIAL CLUB DUES OR INITIATION FEES AND TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: THE UNIVERSITY PROVIDES THREE SOCIAL CLUB MEMBERSHIPS FOR THE PRESIDENT OF THE UNIVERSITY. THE MEMBERSHIPS ARE USED PRIMARILY FOR HOSTING GUESTS DURING FUNDRAISING MEETINGS AND OTHER BUSINESS-RELATED MEETINGS. THE UNIVERSITY PAYS PAYROLL TAX OBLIGATIONS RELATED TO ONE SOCIAL DUES MEMBERSHIP. THE GROSS-UP PAYMENT AND THE UNIVERSITY-PROVIDED MEMBERSHIPS ARE TREATED AS TAXABLE COMPENSATION AND ARE REPORTED ON HER W-2.