Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $244,051

• 1d · Related organizations

  $1,077,959

• 1f · All other contributions, gifts and grants

  $1,543,130

• 1g · Noncash contributions included above

  $1,024,444

• 2a · Program service revenue: TUITION

  total $1,511,637 · related or exempt $1,511,637

• 2b · Program service revenue: LEVERAGE LOAN INTEREST - NMTC

  total $233,288 · related or exempt $233,288

• 3 · Investment income

  total $265 · excluded $265

• 6a · Gross rents

  real property $884,258

• 6b · Less rental expenses

  real property $738,155

• 6c · Rental income or loss

  real property $146,103

• 6d · Net rental income or loss

  total $146,103 · unrelated business -$360,327 · excluded $506,430

• 7a · Gross sales of assets other than inventory

  other assets $8,109

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

  other assets $0

• 7c · Gain or loss

  other assets $8,109

• 7d · Net gain or loss

  total $8,109 · excluded $8,109

• 8a · Fundraising events: gross income

  $66,331

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

  $244,051

• 8b · Fundraising events: direct expenses

  $105,403

• 8c · Net income from fundraising events

  total -$39,072 · excluded -$39,072

• 10a · Gross sales of inventory

  $326

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $326 · unrelated business $326

• 11a · Other revenue: REFUNDS/REIMBURSEMENTS

  total $6,179 · related or exempt $6,179

• 11b · Other revenue: VENDING MACHINE

  total $2,034 · related or exempt $2,034

• 11e · Other revenue, total

  $8,213

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $164,873 · program services $164,873

• 5 · Compensation of officers, directors and key employees

  total $291,125 · program services $60,304 · management and general $170,517 · fundraising $60,304

• 7 · Other salaries and wages

  total $868,597 · program services $680,829 · management and general $187,768

• 9 · Other employee benefits

  total $124,947 · program services $71,552 · management and general $49,430 · fundraising $3,965

• 10 · Payroll taxes

  total $67,934 · program services $34,695 · management and general $28,760 · fundraising $4,479

• 11c · Fees: accounting

  total $28,149 · management and general $28,149

• 11e · Fees: professional fundraising services

  total $30,200 · fundraising $30,200

• 11f · Fees: investment management

  total $10,768 · management and general $10,768

• 11g · Fees: other

  total $14,718 · program services $14,343 · fundraising $375

• 12 · Advertising and promotion

  total $135,252 · program services $72,193 · management and general $63,059

• 13 · Office expenses

  total $43,893 · program services $24,112 · management and general $19,781

• 14 · Information technology

  total $90,673 · program services $24,004 · management and general $58,668 · fundraising $8,001

• 16 · Occupancy

  total $1,883,009 · program services $1,533,568 · management and general $349,441

• 17 · Travel

  total $7,462 · program services $7,396 · management and general $66

• 19 · Conferences, conventions and meetings

  total $5,888 · program services $3,781 · management and general $2,107

• 20 · Interest

  total $109,241 · program services $77,759 · management and general $31,482

• 22 · Depreciation, depletion and amortization

  total $11,656 · program services $10,169 · management and general $1,487

• 23 · Insurance

  total $32,605 · program services $19,563 · management and general $13,042

• 24a · Other expenses: COOKING SUPPLIES

  total $331,643 · program services $252,421 · management and general $79,222

• 24b · Other expenses: BAD DEBT EXPENSE

  total $177,006 · program services $177,006

• 24c · Other expenses: TAXES & LICENSES

  total $11,821 · program services $0 · management and general $11,518 · fundraising $303

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $337,889 · end of year $157,722

• 2 · Savings and temporary cash investments

  beginning of year $1,010 · end of year $736

• 3 · Pledges and grants receivable

  beginning of year $1,297,009 · end of year $976,041

• 4 · Accounts receivable

  beginning of year $321,947 · end of year $307,320

• 7 · Other notes and loans receivable

  beginning of year $13,281,500 · end of year $13,281,500

• 9 · Prepaid expenses and deferred charges

  beginning of year $35,210 · end of year $50,380

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

  $168,871

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

  $59,669

• 10c · Land, buildings and equipment, net

  beginning of year $117,422 · end of year $109,202

• 11 · Investments: publicly traded securities

  beginning of year $161,723 · end of year $0

• 15 · Other assets

  beginning of year $3,507,100 · end of year $2,357,556

• 17 · Accounts payable and accrued expenses

  beginning of year $240,990 · end of year $219,870

• 19 · Deferred revenue

  beginning of year $233,215 · end of year $152,188

• 22 · Loans and payables to officers and key people

  end of year $392,000

• 23 · Secured mortgages and notes payable

  beginning of year $3,343,324 · end of year $2,006,454

• 25 · Other liabilities

  beginning of year $2,664,475 · end of year $1,568,336

• 27 · Net assets without donor restrictions

  beginning of year $10,815,753 · end of year $11,767,110

• 28 · Net assets with donor restrictions

  beginning of year $1,763,053 · end of year $1,134,499

The filer's explanations (Part III)

PART I, LINE 7

THE ORGANIZATION PROVIDED BONUSES FOR 2023.