Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $5,493,975

• 1f · All other contributions, gifts and grants

  $8,450,617

• 1g · Noncash contributions included above

  $392,806

• 2a · Program service revenue: TUITION AND FEES

  total $169,075,653 · related or exempt $169,075,653

• 2b · Program service revenue: RESIDENCE & DINING

  total $15,352,896 · related or exempt $15,352,896

• 2c · Program service revenue: AUXILIARY & OTHER OP. REVENUE

  total $14,248,483 · related or exempt $13,373,321 · unrelated business $875,162

• 3 · Investment income

  total $6,418,674 · unrelated business -$82,690 · excluded $6,501,364

• 6a · Gross rents

  real property $5,377,322

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $5,377,322

• 6d · Net rental income or loss

  total $5,377,322 · unrelated business $1,922,635 · excluded $3,454,687

• 7a · Gross sales of assets other than inventory

  securities $33,430,663

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

  securities $32,878,318

• 7c · Gain or loss

  securities $552,345

• 7d · Net gain or loss

  total $552,345 · excluded $552,345

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $538,367 · program services $538,367

• 2 · Grants to domestic individuals

  total $58,869,283 · program services $58,869,283

• 3 · Grants to foreign organizations and individuals

  total $664,303 · program services $664,303

• 5 · Compensation of officers, directors and key employees

  total $1,433,921 · management and general $1,308,225 · fundraising $125,696

• 7 · Other salaries and wages

  total $63,932,638 · program services $58,725,357 · management and general $3,969,282 · fundraising $1,237,999

• 8 · Pension plan contributions

  total $2,207,728 · program services $1,761,382 · management and general $420,186 · fundraising $26,160

• 9 · Other employee benefits

  total $7,377,741 · program services $1,162,217 · management and general $6,212,518 · fundraising $3,006

• 10 · Payroll taxes

  total $4,475,863 · management and general $4,475,863

• 11b · Fees: legal

  total $93,984 · program services $12,294 · management and general $81,690

• 11c · Fees: accounting

  total $180,870 · management and general $180,870

• 11f · Fees: investment management

  total $778,046 · management and general $778,046

• 11g · Fees: other

  total $3,886,155 · program services $2,428,885 · management and general $1,100,769 · fundraising $356,501

• 12 · Advertising and promotion

  total $165,545 · program services $91,181 · management and general $74,364

• 13 · Office expenses

  total $638,888 · program services $595,183 · management and general $43,394 · fundraising $311

• 14 · Information technology

  total $3,485,605 · program services $564,098 · management and general $2,691,424 · fundraising $230,083

• 16 · Occupancy

  total $8,029,677 · program services $6,526,924 · management and general $1,502,753

• 17 · Travel

  total $1,197,569 · program services $1,008,745 · management and general $144,721 · fundraising $44,103

• 19 · Conferences, conventions and meetings

  total $320,842 · program services $271,131 · management and general $47,887 · fundraising $1,824

• 20 · Interest

  total $11,358,047 · program services $10,618,503 · management and general $739,544

• 22 · Depreciation, depletion and amortization

  total $16,095,200 · program services $11,374,719 · management and general $4,443,816 · fundraising $276,665

• 23 · Insurance

  total $1,138,940 · program services $13,040 · management and general $1,125,883 · fundraising $17

• 24a · Other expenses: DISTANCE LEARNING

  total $34,163,857 · program services $34,163,857

• 24b · Other expenses: CONTRACTED SERVICES

  total $7,652,900 · program services $5,793,076 · management and general $1,835,397 · fundraising $24,427

• 24c · Other expenses: FOOD SERVICE EXPENSE

  total $5,533,449 · program services $5,136,158 · management and general $349,682 · fundraising $47,609

• 24d · Other expenses: LIBRARY EXPENSES

  total $1,171,864 · program services $1,171,864

• 24e · All other expenses

  total $3,315,414 · program services $2,031,442 · management and general $1,234,472 · fundraising $49,500

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $9,052,096 · end of year $10,368,312

• 3 · Pledges and grants receivable

  beginning of year $7,552,349 · end of year $4,860,831

• 4 · Accounts receivable

  beginning of year $9,491,507 · end of year $13,508,065

• 7 · Other notes and loans receivable

  beginning of year $933,099 · end of year $884,347

• 9 · Prepaid expenses and deferred charges

  beginning of year $7,632,570 · end of year $2,291,890

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

  $480,718,502

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

  $226,302,901

• 10c · Land, buildings and equipment, net

  beginning of year $259,671,844 · end of year $254,415,601

• 11 · Investments: publicly traded securities

  beginning of year $90,902,599 · end of year $86,344,796

• 12 · Investments: other securities

  beginning of year $123,176,000 · end of year $139,579,900

• 15 · Other assets

  beginning of year $61,321,468 · end of year $43,221,776

• 17 · Accounts payable and accrued expenses

  beginning of year $17,575,885 · end of year $16,444,512

• 18 · Grants payable

  beginning of year $1,381,641 · end of year $1,333,248

• 19 · Deferred revenue

  beginning of year $20,507,784 · end of year $14,584,367

• 20 · Tax-exempt bond liabilities

  beginning of year $280,735,498 · end of year $273,508,427

• 21 · Escrow or custodial account liability

  beginning of year $667,264 · end of year $473,208

• 25 · Other liabilities

  beginning of year $12,614,685 · end of year $7,357,248

• 27 · Net assets without donor restrictions

  beginning of year $49,066,460 · end of year $48,814,610

• 28 · Net assets with donor restrictions

  beginning of year $187,184,315 · end of year $192,959,898

The filer's explanations (Part III)

PART I, LINE 1A

BENEFITS PROVIDED TO CERTAIN EMPLOYEES - THE UNIVERSITY HAS LEASED A HOME FOR LYNN PERRY WOOTEN THAT IS USED AS A PERSONAL RESIDENCE AND ALSO TO HOLD FUNCTIONS AND EVENTS ON BEHALF OF SIMMONS UNIVERSITY. BECAUSE THE UNIVERSITY REQUIRES PRESIDENT WOOTEN TO LIVE IN PROXIMITY TO CAMPUS AND BE AVAILABLE DURING NON-BUSINESS HOURS FOR UNIVERSITY MATTERS, THE HOUSING BENEFIT IS NOT CONSIDERED AS TAXABLE INCOME IN ACCORDANCE WITH CODE SECTION 119(D). SOCIAL CLUB DUES WERE PAID BY THE UNIVERSITY ON BEHALF OF THE PRESIDENT. USE OF THE SOCIAL CLUB IS FOR BUSINESS PURPOSES ONLY AND DUES ARE NOT INCLUDED IN TAXABLE WAGES. CONSISTENT WITH UNIVERSITY POLICY, FOR HEALTH REASONS, THE CHAIR OF THE BOARD HAS APPROVED THE PRESIDENT TO FLY BUSINESS OR FIRST CLASS FOR EXTENDED FLIGHTS WHEN TRAVELING ON BUSINESS FOR THE UNIVERSITY. THE UNIVERSITY PROVIDES THE PRESIDENT WITH OTHER BENEFITS THAT ARE INCLUDED IN TAXABLE WAGES. THIS INCLUDES CLEANING SERVICES AT THE PRESIDENT'S RESIDENCE, A CAR ALLOWANCE AND DEPENDENT TUITION ASSISTANCE.

PART I, LINE 1B

WRITTEN POLICY FOR EXPENSE REIMBURSEMENTS - THE UNIVERSITY HAS A WRITTEN POLICY REGARDING FIRST CLASS AND SPOUSAL TRAVEL. ON OCCASION, OTHER BENEFITS LISTED IN QUESTION 1A OF SCHEDULE J, PART I MAY BE PROVIDED, BUT ONLY PURSUANT TO A VOTE OF APPROVAL BY THE BOARD OF TRUSTEES.

PART I, LINES 4A-B

SEVERANCE - KATHLEEN ROGERS RECEIVED SEVERANCE PAYMENTS TOTALING $90,561. SUZANNE MURPHY RECEIVED SEVERANCE PAYMENTS TOTALING $48,635 SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN - PRESIDENT WOOTEN PARTICIPATED IN A SECTION 457(B) AND SECTION 457(F) DEFERRED COMPENSATION PLAN. THE UNIVERSITY CONTRIBUTED $20,500 TO THE SECTION 457(B) PLAN. THE UNIVERSITY CREDITED $50,000 FOR PRESIDENT WOOTEN TO A SECTION 457(F) PLAN. THIS AMOUNT IS NOT YET VESTED.

PART I, LINE 7

KATHLEEN ROGERS RECEIVED A BONUS PAYMENT OF $10,000.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CHARITABLE REMAINDER TRUST (4)

  CHARITABLE TRUST · MA · controlled entity

  Directly controlled by SIMMONS UNIVERSITY

• CHARITABLE REMAINDER TRUST (1)

  CHARITABLE TRUST · OH · controlled entity

  Directly controlled by SIMMONS UNIVERSITY

• PERPETUAL TRUST(1)

  PERPETUAL TRUST · MA · controlled entity

  Directly controlled by SIMMONS UNIVERSITY