Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $101,503

• 1c · Fundraising events

  $263,650

• 1e · Government grants (contributions)

  $5,700,494

• 1f · All other contributions, gifts and grants

  $21,522,032

• 1g · Noncash contributions included above

  $8,963,070

• 2a · Program service revenue: TUITION/FEES

  total $115,886,440 · related or exempt $115,886,440

• 2b · Program service revenue: AUX. ENTERPRISES

  total $17,825,528 · related or exempt $17,547,398 · unrelated business $278,130

• 2c · Program service revenue: TECHNOLOGY CENTER

  total $1,988,810 · related or exempt $1,988,810

• 2d · Program service revenue: GOVERNMENT CONTRACTS

  total $915,595 · related or exempt $915,595

• 3 · Investment income

  total $4,334,778 · unrelated business $968,274 · excluded $3,366,504

• 6a · Gross rents

  real property $638,837

• 6b · Less rental expenses

  real property $193,935

• 6c · Rental income or loss

  real property $444,902

• 6d · Net rental income or loss

  total $444,902 · excluded $444,902

• 7a · Gross sales of assets other than inventory

  securities $62,308,329

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

  securities $61,256,786

• 7c · Gain or loss

  securities $1,051,543

• 7d · Net gain or loss

  total $1,051,543 · excluded $1,051,543

• 8a · Fundraising events: gross income

  $50,767

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

  $263,650

• 8b · Fundraising events: direct expenses

  $66,326

• 8c · Net income from fundraising events

  total -$15,559 · excluded -$15,559

• 11a · Other revenue: OTHER INCOME

  total $1,087,855 · excluded $1,087,855

• 11e · Other revenue, total

  $1,087,855

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $74,663,161 · program services $74,663,161

• 5 · Compensation of officers, directors and key employees

  total $2,121,489 · program services $789,535 · management and general $1,093,836 · fundraising $238,118

• 7 · Other salaries and wages

  total $38,277,208 · program services $36,397,989 · management and general $921,637 · fundraising $957,582

• 8 · Pension plan contributions

  total $1,786,796 · program services $1,595,851 · management and general $120,928 · fundraising $70,017

• 9 · Other employee benefits

  total $6,497,920 · program services $6,385,977 · management and general $89,542 · fundraising $22,401

• 10 · Payroll taxes

  total $2,808,082 · program services $2,594,469 · management and general $113,708 · fundraising $99,905

• 11b · Fees: legal

  total $125,750 · management and general $125,750

• 11c · Fees: accounting

  total $139,805 · management and general $139,805

• 11f · Fees: investment management

  total $139,835 · management and general $139,835

• 11g · Fees: other

  total $1,325,642 · program services $1,325,642

• 12 · Advertising and promotion

  total $1,284,265 · program services $1,267,552 · fundraising $16,713

• 13 · Office expenses

  total $2,293,597 · program services $2,199,486 · management and general $29,198 · fundraising $64,913

• 14 · Information technology

  total $1,638,861 · program services $1,634,886 · fundraising $3,975

• 16 · Occupancy

  total $4,705,435 · program services $4,679,732 · management and general $13,687 · fundraising $12,016

• 17 · Travel

  total $1,410,419 · program services $1,322,706 · management and general $43,505 · fundraising $44,208

• 20 · Interest

  total $586,605 · program services $586,605

• 22 · Depreciation, depletion and amortization

  total $10,770,802 · program services $10,725,773 · management and general $9,162 · fundraising $35,867

• 23 · Insurance

  total $1,266,554 · program services $1,266,554

• 24a · Other expenses: FOOD SERVICE COSTS

  total $3,482,920 · program services $3,482,920

• 24b · Other expenses: OTHER - MISC.

  total $3,250,264 · program services $2,949,276 · management and general $122,273 · fundraising $178,715

• 24c · Other expenses: OUTSIDE/CONTRACTED SERV

  total $2,237,576 · program services $1,968,356 · management and general $154,715 · fundraising $114,505

• 24d · Other expenses: COMPUTER LEASES

  total $1,944,315 · program services $1,944,315

• 24e · All other expenses

  total $3,132,251 · program services $2,895,130 · management and general $135,586 · fundraising $101,535

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $311,222 · end of year $1,859,945

• 2 · Savings and temporary cash investments

  beginning of year $25,075,753 · end of year $3,561,187

• 3 · Pledges and grants receivable

  beginning of year $4,577,667 · end of year $5,187,708

• 4 · Accounts receivable

  beginning of year $2,766,809 · end of year $2,841,653

• 7 · Other notes and loans receivable

  beginning of year $482,289 · end of year $320,094

• 8 · Inventories for sale or use

  beginning of year $139,512 · end of year $220,729

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,063,827 · end of year $3,771,774

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

  $357,825,946

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

  $129,435,253

• 10c · Land, buildings and equipment, net

  beginning of year $219,656,699 · end of year $228,390,693

• 11 · Investments: publicly traded securities

  beginning of year $129,072,285 · end of year $154,098,964

• 15 · Other assets

  beginning of year $136,709 · end of year $146,367

• 17 · Accounts payable and accrued expenses

  beginning of year $8,696,745 · end of year $8,880,803

• 19 · Deferred revenue

  beginning of year $2,100,821 · end of year $1,956,849

• 20 · Tax-exempt bond liabilities

  beginning of year $26,709,500 · end of year $25,603,820

• 25 · Other liabilities

  beginning of year $3,179,267 · end of year $2,963,646

• 27 · Net assets without donor restrictions

  beginning of year $248,165,166 · end of year $253,240,851

• 28 · Net assets with donor restrictions

  beginning of year $96,431,273 · end of year $107,753,145

The filer's explanations (Part III)

PART I, LINE 1A

UNDER ORDINARY BUSINESS EXPENSES, SOCIAL CLUB DUES ARE PAID FOR BY MSOE FOR TWO KEY EMPLOYEES: JEFF SNOW AND SEBASTIAN THACHENKARY, WHICH ARE RELATED TO ADVANCEMENT AND MARKETING AND THE BETTERMENT OF THE UNIVERSITY. THIS IS TREATED AS TAXABLE COMPENSATION.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• MSOE PROPERTIES LLC

  ACQUIRE, OWN, OPERATE MSOE PROPERTY · WI · income $0 · assets $409,600

  Directly controlled by MILWAUKEE SCHOOL OF ENGINEERING