Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $24,671

• 1e · Government grants (contributions)

  $443,176

• 1f · All other contributions, gifts and grants

  $10,672,771

• 1g · Noncash contributions included above

  $2,070,569

• 2a · Program service revenue: Tuition and Fees

  total $138,929,743 · related or exempt $138,929,743

• 2b · Program service revenue: Auxiliary Revenue

  total $22,491,026 · related or exempt $22,491,026

• 2c · Program service revenue: Other Program Revenue

  total $2,793,212 · related or exempt $2,793,212

• 2f · All other program service revenue

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

• 3 · Investment income

  total $2,341,696 · excluded $2,341,696

• 6a · Gross rents

  real property $206,038

• 6c · Rental income or loss

  real property $206,038 · personal property $0

• 6d · Net rental income or loss

  total $206,038 · excluded $206,038

• 7a · Gross sales of assets other than inventory

  securities $54,536

• 7c · Gain or loss

  securities $54,536 · other assets $0

• 7d · Net gain or loss

  total $54,536 · excluded $54,536

• 8a · Fundraising events: gross income

  $45,492

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

  $24,671

• 8b · Fundraising events: direct expenses

  $13,605

• 8c · Net income from fundraising events

  total $31,887 · excluded $31,887

• 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.

• 1 · Grants to domestic organizations and governments

  total $7,066,734 · program services $7,066,734

• 2 · Grants to domestic individuals

  total $41,822,423 · program services $41,822,423

• 5 · Compensation of officers, directors and key employees

  total $1,500,779 · program services $780,405 · management and general $705,366 · fundraising $15,008

• 6 · Compensation of disqualified persons

  total $147,787 · program services $147,787

• 7 · Other salaries and wages

  total $57,039,596 · program services $43,287,347 · management and general $12,749,434 · fundraising $1,002,815

• 8 · Pension plan contributions

  total $2,800,644 · program services $2,110,240 · management and general $623,738 · fundraising $66,666

• 9 · Other employee benefits

  total $7,649,771 · program services $4,425,732 · management and general $3,085,595 · fundraising $138,444

• 10 · Payroll taxes

  total $4,439,810 · program services $3,221,601 · management and general $1,150,474 · fundraising $67,735

• 11b · Fees: legal

  total $227,577 · management and general $227,577

• 11c · Fees: accounting

  total $106,335 · management and general $106,335

• 11e · Fees: professional fundraising services

  total $8,000 · fundraising $8,000

• 11f · Fees: investment management

  total $41,249 · management and general $41,249

• 11g · Fees: other

  total $6,035,899 · program services $3,342,319 · management and general $2,632,194 · fundraising $61,386

• 12 · Advertising and promotion

  total $2,429,037 · program services $305,462 · management and general $2,075,401 · fundraising $48,174

• 13 · Office expenses

  total $2,277,388 · program services $1,569,525 · management and general $563,924 · fundraising $143,939

• 14 · Information technology

  total $3,309,689 · program services $845,529 · management and general $2,343,827 · fundraising $120,333

• 16 · Occupancy

  total $11,176,266 · program services $11,176,266

• 17 · Travel

  total $2,618,099 · program services $2,039,902 · management and general $521,062 · fundraising $57,135

• 19 · Conferences, conventions and meetings

  total $257,598 · program services $164,279 · management and general $90,690 · fundraising $2,629

• 20 · Interest

  total $1,758,063 · program services $1,638 · management and general $1,756,425

• 22 · Depreciation, depletion and amortization

  total $7,613,261 · program services $7,613,261

• 23 · Insurance

  total $1,406,970 · program services $107,347 · management and general $1,299,084 · fundraising $539

• 24a · Other expenses: Cafeteria Contractor

  total $5,849,132 · program services $2,550 · management and general $5,846,582

• 24b · Other expenses: Equipment

  total $1,449,940 · program services $465,820 · management and general $974,405 · fundraising $9,715

• 24c · Other expenses: Equipment Rental

  total $542,110 · program services $139,455 · management and general $401,605 · fundraising $1,050

• 24e · All other expenses

  total $3,772,075 · program services $978,005 · management and general $2,739,116 · fundraising $54,954

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $25,405,459 · end of year $31,666,502

• 2 · Savings and temporary cash investments

  beginning of year $33,784,200 · end of year $191,720

• 3 · Pledges and grants receivable

  beginning of year $0

• 4 · Accounts receivable

  beginning of year $5,129,217 · end of year $4,919,781

• 5 · Loans and receivables from officers and key people

  beginning of year $3,381,342 · 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 $2,979,603 · end of year $2,753,812

• 8 · Inventories for sale or use

  beginning of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,370,435 · end of year $4,029,296

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

  $238,533,268

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

  $88,310,333

• 10c · Land, buildings and equipment, net

  beginning of year $130,866,166 · end of year $150,222,935

• 11 · Investments: publicly traded securities

  beginning of year $39,215,999 · end of year $60,562,427

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $2,058,520 · end of year $1,619,104

• 14 · Intangible assets

  beginning of year $0

• 15 · Other assets

  beginning of year $4,288,911 · end of year $5,774,491

• 17 · Accounts payable and accrued expenses

  beginning of year $9,993,321 · end of year $9,003,801

• 19 · Deferred revenue

  beginning of year $7,253,814 · end of year $7,031,126

• 20 · Tax-exempt bond liabilities

  beginning of year $62,515,868 · end of year $65,113,001

• 22 · Loans and payables to officers and key people

  end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $1,653,729 · end of year $1,319,334

• 25 · Other liabilities

  beginning of year $15,618,168 · end of year $22,661,694

• 27 · Net assets without donor restrictions

  beginning of year $144,336,523 · end of year $144,664,399

• 28 · Net assets with donor restrictions

  beginning of year $8,108,429 · end of year $11,946,713

The filer's explanations (Part III)

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

Pursuant to Internal Revenue Code Section 107, ministerial housing allowances are provided for qualifying ministerial employees. This is not included in taxable compensation. The VP for University Services met the qualifications for and received a ministerial housing allowance during the tax year.

Schedule J, Part I, Line 1a Payments for business use of personal residence

The University reimburses Dr. Brower, President, for the cost of house cleaning or landscaping expenses when his residence is used for University business.

Schedule J, Part I, Line 7 Non-fixed payments

Discretionary bonuses were awarded to employees based on their full time equivalency. These bonuses were approved by the Board.

Related corporations and trusts

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

• Charitable Remainder Trust (3)

  Hold assets and remit income to University · CA · controlled entity

  Directly controlled by Point Loma Nazarene University

• Charitable Remainder Unitrust (4)

  Hold assets and remit income to University · CA · controlled entity

  Directly controlled by Point Loma Nazarene University

• Pooled Income Fund (4)

  Hold assets and remit income to University · CA · controlled entity

  Directly controlled by Point Loma Nazarene University