Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $14,792,724

• 1f · All other contributions, gifts and grants

  $523,161

• 1g · Noncash contributions included above

  $12,533

• 2a · Program service revenue: TUITION AND FEES

  total $4,033,133 · related or exempt $4,033,133

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $4,013,104 · related or exempt $4,013,104

• 3 · Investment income

  total $992,495 · excluded $992,495

• 6a · Gross rents

  real property $800

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $800

• 6d · Net rental income or loss

  total $800 · excluded $800

• 7a · Gross sales of assets other than inventory

  securities $1,284,022

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

  securities $1,038,156

• 7c · Gain or loss

  securities $245,866

• 7d · Net gain or loss

  total $245,866 · excluded $245,866

• 11a · Other revenue: OTHER REVENUE

  total $78,245 · excluded $78,245

• 11b · Other revenue: VENDING

  total $27,058 · excluded $27,058

• 11c · Other revenue: PARKING

  total $13,025 · excluded $13,025

• 11e · Other revenue, total

  $118,328

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $2,581,604 · program services $2,581,604

• 7 · Other salaries and wages

  total $13,631,934 · program services $9,980,806 · management and general $3,565,154 · fundraising $85,974

• 8 · Pension plan contributions

  total $1,096,525 · program services $802,836 · management and general $286,773 · fundraising $6,916

• 9 · Other employee benefits

  total $1,576,483 · program services $1,154,244 · management and general $412,296 · fundraising $9,943

• 10 · Payroll taxes

  total $1,081,615 · program services $791,919 · management and general $282,874 · fundraising $6,822

• 11b · Fees: legal

  total $23,525 · management and general $23,525

• 11c · Fees: accounting

  total $258,022 · management and general $258,022

• 11f · Fees: investment management

  total $40,373 · management and general $40,373

• 11g · Fees: other

  total $1,692,037 · program services $1,104,666 · management and general $542,011 · fundraising $45,360

• 12 · Advertising and promotion

  total $132,781 · program services $35,642 · management and general $97,139

• 13 · Office expenses

  total $694,905 · program services $624,324 · management and general $64,380 · fundraising $6,201

• 14 · Information technology

  total $759,736 · program services $697,333 · management and general $56,215 · fundraising $6,188

• 16 · Occupancy

  total $1,308,996 · program services $1,164,195 · management and general $144,801

• 17 · Travel

  total $265,532 · program services $251,229 · management and general $14,303

• 19 · Conferences, conventions and meetings

  total $254,481 · program services $184,624 · management and general $49,359 · fundraising $20,498

• 20 · Interest

  total $1,739,407 · program services $1,596,288 · management and general $143,119

• 22 · Depreciation, depletion and amortization

  total $3,881,076 · program services $3,561,740 · management and general $319,336

• 23 · Insurance

  total $646,164 · program services $92,442 · management and general $553,722

• 24a · Other expenses: STUDENT FOOD SERVICES

  total $1,711,527 · program services $1,711,527

• 24b · Other expenses: REPAIRS & MAINTENANCE

  total $649,766 · program services $234,370 · management and general $415,125 · fundraising $271

• 24c · Other expenses: ADMIN. EXPENSES

  total $415,734 · program services $381,527 · management and general $34,207

• 24d · Other expenses: EQUIPMENT

  total $129,404 · program services $61,143 · management and general $68,261

• 24e · All other expenses

  total $161,433 · program services $134,452 · management and general $26,981

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,272,788 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $13,478,578 · end of year $0

• 3 · Pledges and grants receivable

  beginning of year $911,063 · end of year $0

• 4 · Accounts receivable

  beginning of year $172,499 · end of year $0

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  end of year $0

• 8 · Inventories for sale or use

  end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $491,825 · 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 $59,950,354 · end of year $0

• 11 · Investments: publicly traded securities

  beginning of year $16,135,455 · end of year $0

• 12 · Investments: other securities

  end of year $0

• 13 · Investments: program-related

  end of year $0

• 14 · Intangible assets

  end of year $0

• 15 · Other assets

  end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $1,539,708 · end of year $0

• 18 · Grants payable

  end of year $0

• 19 · Deferred revenue

  beginning of year $303,785 · end of year $0

• 20 · Tax-exempt bond liabilities

  end of year $0

• 21 · Escrow or custodial account liability

  end of year $0

• 22 · Loans and payables to officers and key people

  end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $31,025,456 · end of year $0

• 24 · Unsecured notes and loans payable

  end of year $0

• 25 · Other liabilities

  beginning of year $1,187 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $44,167,647 · end of year $0

• 28 · Net assets with donor restrictions

  beginning of year $15,374,779 · end of year $0

The filer's explanations (Part III)

PART I, LINE 1A

EFFECTIVE 08/01/2019, THE COLLEGE NO LONGER REQUIRES THE PRESIDENT TO MAINTAIN RESIDENCE ON CAMPUS. THE FORMER PRESIDENT'S COMPENSATION PACKAGE INCLUDES A TAXABLE HOUSING ALLOWANCE THROUGH JUNE 30, 2023.

PART I, LINE 4A

THE FOLLOWING INDIVIDUALS RECEIVED SEVERANCE PAYMENTS UPON THEIR DEPARTURE FROM THE COLLEGE IN CALENDAR YEAR 2023. THESE AMOUNTS ARE REPORTED ON SCHEDULE J, PART II, COLUMN B(III). PAUL RUSSO $117,903 LEILA KOEPP $113,637 ELLEN POWLEY $112,325 MARIA VOGT $110,263 DEMETRIS NICOLAIDES $104,575

PART I, LINE 7

CERTAIN LISTED INDIVIDUALS RECEIVED DISCRETIONARY BONUSES.