Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,128,169

• 1f · All other contributions, gifts and grants

  $4,876,073

• 1g · Noncash contributions included above

  $401,407

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

  total $55,571,539 · related or exempt $55,571,539

• 2b · Program service revenue: ATHLETIC REVENUE

  total $1,468,813 · related or exempt $1,468,813

• 2c · Program service revenue: OTHER REVENUE

  total $1,333,154 · related or exempt $1,333,154

• 2d · Program service revenue: SUMMER CONFERENCES

  total $323,676 · related or exempt $323,676

• 3 · Investment income

  total $2,206,897 · excluded $2,206,897

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

  total $0

• 5 · Royalties

  total $0

• 6a · Gross rents

  real property $94,812

• 6c · Rental income or loss

  real property $94,812 · personal property $0

• 6d · Net rental income or loss

  total $94,812 · excluded $94,812

• 7a · Gross sales of assets other than inventory

  securities $17,276,746

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

  securities $17,021,331

• 7c · Gain or loss

  securities $255,415

• 7d · Net gain or loss

  total $255,415 · excluded $255,415

• 8a · Fundraising events: gross income

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0

• 10a · Gross sales of inventory

  $134,086

• 10b · Cost of goods sold

  $57,529

• 10c · Net income from sales of inventory

  total $76,557 · related or exempt $76,557 · unrelated business $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $25,635,352 · program services $25,635,352

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $1,420,942 · program services $139,213 · management and general $1,154,067 · fundraising $127,662

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $18,476,062 · program services $16,599,806 · management and general $1,393,134 · fundraising $483,122

• 8 · Pension plan contributions

  total $0

• 9 · Other employee benefits

  total $4,527,625 · program services $3,517,898 · management and general $858,046 · fundraising $151,681

• 10 · Payroll taxes

  total $0

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $153,930 · management and general $153,930

• 11c · Fees: accounting

  total $128,573 · management and general $128,573

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $384,987 · management and general $384,987

• 11g · Fees: other

  total $2,800,024 · program services $2,539,280 · management and general $220,651 · fundraising $40,093

• 12 · Advertising and promotion

  total $647,575 · program services $471,592 · management and general $148,513 · fundraising $27,470

• 13 · Office expenses

  total $988,005 · program services $937,659 · management and general $44,105 · fundraising $6,241

• 14 · Information technology

  total $746,935 · program services $318,698 · management and general $382,658 · fundraising $45,579

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $4,240,415 · program services $3,364,060 · management and general $856,213 · fundraising $20,142

• 17 · Travel

  total $2,272,225 · program services $2,097,870 · management and general $167,219 · fundraising $7,136

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $493,561 · program services $396,515 · management and general $93,098 · fundraising $3,948

• 20 · Interest

  total $134,980 · program services $132,296 · management and general $2,684

• 21 · Payments to affiliates

  total $3,018,484 · management and general $3,018,484

• 22 · Depreciation, depletion and amortization

  total $2,388,302 · program services $1,859,316 · management and general $528,793 · fundraising $193

• 23 · Insurance

  total $0

• 24a · Other expenses: DINING HALL & FOOD CHARGES

  total $4,372,866 · program services $4,280,571 · management and general $44,045 · fundraising $48,250

• 24b · Other expenses: REPAIRS & MAINTENANCE

  total $1,355,072 · program services $1,246,114 · management and general $105,454 · fundraising $3,504

• 24c · Other expenses: ATHLETIC EXPENSES

  total $1,182,719 · program services $1,182,719 · management and general $0 · fundraising $0

• 24d · Other expenses: MISCELLANEOUS EXPENSES

  total $1,350,375 · program services $1,076,125 · management and general $252,793 · fundraising $21,457

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,971,543 · end of year $2,202,416

• 2 · Savings and temporary cash investments

  beginning of year $20,792,030 · end of year $9,814,652

• 3 · Pledges and grants receivable

  beginning of year $8,401,044 · end of year $7,762,348

• 4 · Accounts receivable

  beginning of year $1,715,992 · end of year $1,510,203

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $519,824 · end of year $358,851

• 8 · Inventories for sale or use

  beginning of year $38,386 · end of year $40,005

• 9 · Prepaid expenses and deferred charges

  beginning of year $441,101 · end of year $589,416

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

  $81,585,115

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

  $40,378,826

• 10c · Land, buildings and equipment, net

  beginning of year $33,215,781 · end of year $41,206,289

• 11 · Investments: publicly traded securities

  beginning of year $57,523,814 · end of year $79,775,685

• 12 · Investments: other securities

  beginning of year $32,012,522 · end of year $20,836,836

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $11,082,616 · end of year $10,520,274

• 17 · Accounts payable and accrued expenses

  beginning of year $2,779,639 · end of year $4,833,289

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $1,755,213 · end of year $1,812,939

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $2,409,475 · end of year $5,858,349

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $3,310,125 · end of year $4,464,444

• 27 · Net assets without donor restrictions

  beginning of year $45,072,429 · end of year $39,441,648

• 28 · Net assets with donor restrictions

  beginning of year $114,387,772 · end of year $118,206,306

The filer's explanations (Part III)

PART I, LINE 1A:

THE PRESIDENT OF THE COLLEGE IS PROVIDED HOUSING FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL COLLEGE BUSINESS AND ACTIVITIES AT THE HOME. CLUB MEMBERSHIP IS USED TO ENTERTAIN DONORS AND OTHERS FOR COLLEGE BUSINESS.

Part I, Line 4A:

JACQUELINE BERKSHIRE received a severance payment of $154,765. Kurt Wargo received a severance payment of $24,000.