Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $373,264

• 1f · All other contributions, gifts and grants

  $1,549,978

• 1g · Noncash contributions included above

  $6,252

• 2a · Program service revenue: TUITION AND FEES

  total $41,948,717 · related or exempt $41,948,717

• 2b · Program service revenue: ROOM AND BOARD

  total $9,294,896 · related or exempt $9,294,896

• 2c · Program service revenue: OTHER PROGRAM INCOME

  total $239,069 · related or exempt $239,069

• 2d · Program service revenue: SUMMER CAMP

  total $60,023 · related or exempt $60,023

• 2e · Program service revenue: CAMPUS BOOKSTORE

  total $40,615 · related or exempt $40,615

• 3 · Investment income

  total $1,428,474 · excluded $1,428,474

• 5 · Royalties

  total $5,061 · excluded $5,061

• 6a · Gross rents

  real property $19,700

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $19,700

• 6d · Net rental income or loss

  total $19,700 · excluded $19,700

• 7a · Gross sales of assets other than inventory

  securities $22,895,556

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

  securities $23,334,868 · other assets $1,930

• 7c · Gain or loss

  securities -$439,312 · other assets -$1,930

• 7d · Net gain or loss

  total -$441,242 · excluded -$441,242

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $16,380,905 · program services $16,380,905

• 5 · Compensation of officers, directors and key employees

  total $1,137,523 · program services $1,011,695 · management and general $99,402 · fundraising $26,426

• 7 · Other salaries and wages

  total $16,379,838 · program services $14,624,918 · management and general $1,384,216 · fundraising $370,704

• 8 · Pension plan contributions

  total $532,541 · program services $444,111 · management and general $70,972 · fundraising $17,458

• 9 · Other employee benefits

  total $1,938,342 · program services $1,616,474 · management and general $258,324 · fundraising $63,544

• 10 · Payroll taxes

  total $1,271,033 · program services $810,650 · management and general $457,568 · fundraising $2,815

• 11b · Fees: legal

  total $119,948 · management and general $119,948

• 11c · Fees: accounting

  total $117,476 · management and general $117,476

• 11f · Fees: investment management

  total $126,851 · management and general $126,851

• 11g · Fees: other

  total $3,257,589 · program services $2,934,313 · management and general $277,158 · fundraising $46,118

• 12 · Advertising and promotion

  total $260,257 · program services $140,242 · management and general $19,455 · fundraising $100,560

• 13 · Office expenses

  total $761,863 · program services $742,880 · management and general $7,062 · fundraising $11,921

• 14 · Information technology

  total $4,130,986 · program services $252,583 · management and general $3,878,403

• 16 · Occupancy

  total $3,332,677 · program services $2,609,612 · management and general $705,036 · fundraising $18,029

• 17 · Travel

  total $1,433,056 · program services $1,431,182 · management and general $1,599 · fundraising $275

• 19 · Conferences, conventions and meetings

  total $39,840 · program services $38,841 · management and general $999

• 20 · Interest

  total $1,086,385 · program services $970,359 · management and general $112,441 · fundraising $3,585

• 22 · Depreciation, depletion and amortization

  total $3,945,708 · program services $3,524,306 · management and general $408,381 · fundraising $13,021

• 23 · Insurance

  total $626,126 · program services $80,800 · management and general $545,326

• 24a · Other expenses: EDUCATION EXPENSES

  total $1,060,140 · program services $1,060,140

• 24b · Other expenses: OTHER OPERATIONAL EXPEN

  total $602,075 · management and general $598,393 · fundraising $3,682

• 24c · Other expenses: WORK STUDY

  total $446,046 · program services $436,236 · management and general $2,745 · fundraising $7,065

• 24d · Other expenses: DUES AND SUBSCRIPTIONS

  total $216,266 · program services $137,932 · management and general $77,855 · fundraising $479

• 24e · All other expenses

  total $492,084 · program services $140,518 · management and general $342,228 · fundraising $9,338

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,427,746 · end of year $2,306,447

• 2 · Savings and temporary cash investments

  beginning of year $3,100,168 · end of year $3,648,551

• 3 · Pledges and grants receivable

  beginning of year $80,200

• 4 · Accounts receivable

  beginning of year $822,928 · end of year $397,911

• 9 · Prepaid expenses and deferred charges

  beginning of year $399,411 · end of year $631,252

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

  $143,625,778

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

  $59,604,496

• 10c · Land, buildings and equipment, net

  beginning of year $86,989,195 · end of year $84,021,282

• 11 · Investments: publicly traded securities

  beginning of year $47,144,160 · end of year $50,388,351

• 14 · Intangible assets

  beginning of year $53,314 · end of year $31,988

• 15 · Other assets

  beginning of year $4,910,705 · end of year $4,141,782

• 17 · Accounts payable and accrued expenses

  beginning of year $1,990,048 · end of year $1,730,468

• 19 · Deferred revenue

  beginning of year $2,806,609 · end of year $2,593,677

• 20 · Tax-exempt bond liabilities

  beginning of year $24,320,183 · end of year $23,478,316

• 23 · Secured mortgages and notes payable

  beginning of year $1,847,432 · end of year $1,535,045

• 25 · Other liabilities

  beginning of year $4,692,369 · end of year $3,734,670

• 27 · Net assets without donor restrictions

  beginning of year $96,988,926 · end of year $95,623,719

• 28 · Net assets with donor restrictions

  beginning of year $15,282,260 · end of year $16,871,669

The filer's explanations (Part III)

PART I, LINE 1A

CURRHAEE GOLF CLUB MEMBERSHIP REQUIRES BOTH SOCIAL AND GOLF - ATHLETICS UTILIZES THE GOLF AND THE PRESIDENT UTILIZES THE SOCIAL PORTION. THE MEMBERSHIP IS USED FOR OPERATIONS, NOT FOR PERSONAL USE, SO IT IS NOT INCLUDED IN TAXABLE COMPENSATION.