Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $11,280

• 1d · Related organizations

  $553,121

• 1e · Government grants (contributions)

  $3,840,163

• 1f · All other contributions, gifts and grants

  $10,993,267

• 1g · Noncash contributions included above

  $2,246,793

• 2a · Program service revenue: Tuition & Fees

  total $46,892,420 · related or exempt $46,892,420

• 2b · Program service revenue: Auxiliary Enterprises

  total $7,431,925 · related or exempt $7,431,925

• 2c · Program service revenue: Other Program Revenue

  total $1,312,855 · related or exempt $1,312,855

• 2d · Program service revenue: Summer Camps

  total $374,196 · related or exempt $35,109 · unrelated business $339,087

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $10,966,028 · excluded $10,966,028

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $21,665,778 · other assets $581,941

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

  securities $19,803,405 · other assets $581,941

• 7c · Gain or loss

  securities $1,862,373 · other assets $0

• 7d · Net gain or loss

  total $1,862,373 · excluded $1,862,373

• 8a · Fundraising events: gross income

  $116,433

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

  $11,280

• 8b · Fundraising events: direct expenses

  $42,601

• 8c · Net income from fundraising events

  total $73,832 · excluded $73,832

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $25,259,997 · program services $25,259,997

• 5 · Compensation of officers, directors and key employees

  total $1,762,370 · program services $605,582 · management and general $937,797 · fundraising $218,991

• 6 · Compensation of disqualified persons

  total $167,717 · program services $57,631 · management and general $89,246 · fundraising $20,840

• 7 · Other salaries and wages

  total $19,276,787 · program services $15,102,439 · management and general $3,585,197 · fundraising $589,151

• 8 · Pension plan contributions

  total $418,245 · program services $299,001 · management and general $102,536 · fundraising $16,708

• 9 · Other employee benefits

  total $2,729,788 · program services $2,157,166 · management and general $495,823 · fundraising $76,799

• 10 · Payroll taxes

  total $1,530,545 · program services $1,069,633 · management and general $402,361 · fundraising $58,551

• 11b · Fees: legal

  total $246,027 · management and general $246,027

• 11c · Fees: accounting

  total $67,876 · management and general $67,876

• 11e · Fees: professional fundraising services

  total $150,722 · fundraising $150,722

• 11f · Fees: investment management

  total $980,124 · management and general $980,124

• 11g · Fees: other

  total $0 · program services $0 · management and general $0 · fundraising $0

• 12 · Advertising and promotion

  total $1,001,807 · program services $69,310 · management and general $851,247 · fundraising $81,250

• 13 · Office expenses

  total $7,456,864 · program services $5,655,595 · management and general $1,689,660 · fundraising $111,609

• 14 · Information technology

  total $1,545,852 · program services $229,614 · management and general $1,316,238

• 16 · Occupancy

  total $8,708,744 · program services $8,500,411 · management and general $208,333

• 17 · Travel

  total $1,368,571 · program services $1,217,011 · management and general $89,134 · fundraising $62,426

• 20 · Interest

  total $1,635,548 · program services $1,589,575 · management and general $45,973

• 22 · Depreciation, depletion and amortization

  total $6,298,867 · program services $5,798,196 · management and general $500,671

• 23 · Insurance

  total $1,601,015 · program services $665,411 · management and general $935,604

• 24a · Other expenses: Food Service

  total $2,271,573 · program services $2,271,573

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,080,370 · end of year $1,374,068

• 2 · Savings and temporary cash investments

  beginning of year $10,855,326 · end of year $9,315,014

• 3 · Pledges and grants receivable

  beginning of year $2,457,692 · end of year $3,265,894

• 4 · Accounts receivable

  beginning of year $1,783,981 · end of year $1,263,061

• 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 $69,199 · end of year $96,847

• 9 · Prepaid expenses and deferred charges

  beginning of year $499,502 · end of year $612,053

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

  $219,083,825

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

  $80,785,776

• 10c · Land, buildings and equipment, net

  beginning of year $121,577,778 · end of year $138,298,049

• 11 · Investments: publicly traded securities

  beginning of year $144,479,484 · end of year $159,334,878

• 12 · Investments: other securities

  beginning of year $69,769,742 · end of year $62,514,964

• 13 · Investments: program-related

  beginning of year $0

• 14 · Intangible assets

  beginning of year $1,272,890 · end of year $1,272,890

• 15 · Other assets

  beginning of year $36,365,574 · end of year $36,366,459

• 17 · Accounts payable and accrued expenses

  beginning of year $5,828,724 · end of year $7,054,475

• 19 · Deferred revenue

  beginning of year $8,868,767 · end of year $7,250,276

• 20 · Tax-exempt bond liabilities

  beginning of year $16,062,939 · end of year $25,536,863

• 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 $26,177,150 · end of year $28,561,540

• 25 · Other liabilities

  beginning of year $256,901 · end of year $101,825

• 27 · Net assets without donor restrictions

  beginning of year $150,310,134 · end of year $152,488,989

• 28 · Net assets with donor restrictions

  beginning of year $182,706,923 · end of year $192,720,209

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

Charter travel for our football team which included coach Jesse Burleson & Dr. Christopher McNair. The entire team flies on the charter so they flew with the team. It was considered business expense and not treated as taxable compensation.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

As a condition of employment, and as a convenience to the University, the President is provided a home on University grounds.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

The University provides social club dues as taxable compensation to the Provost & Chief Academic Officer and VP for Institutional Advancement.

Schedule J, Part I, Line 1a Personal services

The University also provides grounds care and housekeeping for the President's home since the President hosts functions for the University at his home. The home is provided as a nontaxable benefit to the President. The housekeeping is reported as a taxable benefit as it is done on a weekly basis.

Related corporations and trusts

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

• Irrevocable Trusts (3)

  Trust · Trust · TX · controlled entity

  Directly controlled by Hardin-Simmons University

• Charitable Remainder Trust (1)

  Trust · Trust · TX · controlled entity

  Directly controlled by Hardin-Simmons University