Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $21,012,495

• 2a · Program service revenue: PAYMENT FOR SUPPORT

  total $81,414,812 · related or exempt $81,414,812

• 2b · Program service revenue: OTHER PROGRAM REVENUE

  total $5,239 · related or exempt $5,239

• 3 · Investment income

  total $375,939 · excluded $375,939

• 7a · Gross sales of assets other than inventory

  securities $979,238

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

  securities $0

• 7c · Gain or loss

  securities $979,238

• 7d · Net gain or loss

  total $979,238 · excluded $979,238

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $325,000 · program services $325,000

• 5 · Compensation of officers, directors and key employees

  total $3,146,435 · program services $3,146,435

• 7 · Other salaries and wages

  total $50,380,159 · program services $50,380,159

• 8 · Pension plan contributions

  total $1,688,055 · program services $1,688,055

• 9 · Other employee benefits

  total $10,563,268 · program services $10,563,268

• 10 · Payroll taxes

  total $3,976,827 · program services $3,976,827

• 11b · Fees: legal

  total $524,843 · management and general $524,843

• 11c · Fees: accounting

  total $95,023 · management and general $95,023

• 11f · Fees: investment management

  total $21,840 · management and general $21,840

• 11g · Fees: other

  total $7,887,332 · program services $7,887,332

• 12 · Advertising and promotion

  total $1,529,013 · program services $1,529,013

• 13 · Office expenses

  total $2,308,459 · program services $2,308,459

• 14 · Information technology

  total $6,301,400 · program services $6,301,400

• 16 · Occupancy

  total $3,504,509 · program services $3,504,509

• 17 · Travel

  total $1,085,300 · program services $1,085,300

• 19 · Conferences, conventions and meetings

  total $286,368 · program services $286,368

• 20 · Interest

  total $4,773,311 · program services $4,773,311

• 22 · Depreciation, depletion and amortization

  total $7,440,562 · program services $7,440,562

• 23 · Insurance

  total $1,529,858 · program services $1,529,858

• 24a · Other expenses: SANFORD PROGRAM EXPENSE

  total $6,756,179 · program services $6,756,179

• 24b · Other expenses: RECRUITMENT - EMPLOYEE

  total $432,818 · program services $432,818

• 24c · Other expenses: UNIVERSITY FUNCTIONS

  total $349,478 · program services $349,478

• 24d · Other expenses: DUES AND MEMBERSHIPS

  total $137,281 · program services $137,281

• 24e · All other expenses

  total $185,814 · program services $185,814

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,760,615 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $6,041,895 · end of year $0

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

  $0

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

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $1,588,127 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $44,182,895 · end of year $0

• 14 · Intangible assets

  beginning of year $57,667,065 · end of year $0

• 15 · Other assets

  beginning of year $4,793,057 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $11,378,050 · end of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $65,211,166 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $103,774,232 · end of year $0

• 25 · Other liabilities

  beginning of year $9,872,713 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year -$66,202,507 · end of year $0

The filer's explanations (Part III)

PART I, LINE 1A

FIRST CLASS TRAVEL IS MADE AVAILABLE TO BOARD MEMBERS IF THE FLIGHT IS OVER 3 HOURS. THIS IS NOT INCLUDED AS TAXABLE INCOME TO SUCH BOARD MEMBERS IF UTILIZED.

PART I, LINE 7

OFFICERS AND KEY EMPLOYEES ARE ELIGIBLE FOR BONUSES. BONUSES ARE AWARDED WITHIN A SPECIFIED RANGE IN THE DISCRETION OF THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND ARE BASED ON ACHIEVING GOALS.