Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: FEE INCOME

  total $5,307,353 · related or exempt $5,307,353

• 2b · Program service revenue: OTHER INCOME

  total $1,033,344 · related or exempt $1,033,344

• 2c · Program service revenue: INTEREST ON LOANS

  total $1,026,143 · related or exempt $1,026,143

• 2d · Program service revenue: EQUITY IN EARNINGS FROM CUSO

  total -$73,223 · related or exempt -$73,223

• 3 · Investment income

  total $18,532,419 · related or exempt $18,532,419

• 11a · Other revenue: USC ASSET MGMT ESTATE REPAYMENTS

  total $24,455,269 · related or exempt $24,455,269

• 11e · Other revenue, total

  $24,455,269

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $710,433

• 7 · Other salaries and wages

  total $1,961,402

• 8 · Pension plan contributions

  total $81,651

• 9 · Other employee benefits

  total $338,993

• 10 · Payroll taxes

  total $177,550

• 11c · Fees: accounting

  total $72,300

• 11g · Fees: other

  total $924,999

• 12 · Advertising and promotion

  total $176,162

• 13 · Office expenses

  total $703,375

• 14 · Information technology

  total $2,284,109

• 16 · Occupancy

  total $202,210

• 17 · Travel

  total $96,768

• 20 · Interest

  total $11,290,720

• 22 · Depreciation, depletion and amortization

  total $249,980

• 23 · Insurance

  total $119,440

• 24a · Other expenses: SPECIAL DISTRIBUTION TO

  total $10,452,299

• 24b · Other expenses: GW IMPAIRMENT & W/O NON

  total $3,256,327

• 24c · Other expenses: PROFESSIONAL SERVICES

  total $424,811

• 24d · Other expenses: VOLUNTEER MEETINGS

  total $43,462

• 24e · All other expenses

  total $34,678

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $17,953,561 · end of year $39,347,628

• 2 · Savings and temporary cash investments

  beginning of year $898,498,748 · end of year $381,744,461

• 4 · Accounts receivable

  beginning of year $2,276,649 · end of year $2,605,058

• 7 · Other notes and loans receivable

  beginning of year $672,120 · end of year $63,575,376

• 9 · Prepaid expenses and deferred charges

  beginning of year $184,827 · end of year $247,433

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

  $3,469,109

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

  $1,773,647

• 10c · Land, buildings and equipment, net

  beginning of year $1,583,980 · end of year $1,695,462

• 11 · Investments: publicly traded securities

  beginning of year $680,496,815 · end of year $609,368,288

• 12 · Investments: other securities

  beginning of year $74,207,400 · end of year $66,153,388

• 15 · Other assets

  beginning of year $841,752 · end of year $2,450,536

• 17 · Accounts payable and accrued expenses

  beginning of year $887,645 · end of year $1,097,612

• 23 · Secured mortgages and notes payable

  end of year $282,523,600

• 25 · Other liabilities

  beginning of year $200,163 · end of year $2,332,317

• 29 · Capital stock, trust principal or current funds

  beginning of year $1,576,562,679 · end of year $777,252,575

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $54,208,507 · end of year $54,252,571

• 31 · Retained earnings, endowment or other funds

  beginning of year $44,856,858 · end of year $49,728,955

The filer's explanations (Part III)

PART I, LINE 3

THE CEO'S SALARY IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS WITH INPUT FROM AN INDEPENDENT CONSULTANT.