Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $673,344

• 1f · All other contributions, gifts and grants

  $421,595

• 1g · Noncash contributions included above

  $13,000

• 2a · Program service revenue: Tuition & Fee Revenue

  total $21,734,837 · related or exempt $21,734,837

• 2b · Program service revenue: Other School Revenue

  total $72,719 · related or exempt $72,719

• 3 · Investment income

  total $261,760 · excluded $261,760

• 5 · Royalties

  total $24,574 · excluded $24,574

• 6a · Gross rents

  real property $974,347

• 6b · Less rental expenses

  real property $978,385

• 6c · Rental income or loss

  real property -$4,038

• 6d · Net rental income or loss

  total -$4,038 · excluded -$4,038

• 7a · Gross sales of assets other than inventory

  securities $2,315,638

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

  securities $2,060,697

• 7c · Gain or loss

  securities $254,941

• 7d · Net gain or loss

  total $254,941 · excluded $254,941

• 11d · All other revenue

  total $230,755 · excluded $230,755

• 11e · Other revenue, total

  $230,755

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $929,658 · program services $929,658

• 5 · Compensation of officers, directors and key employees

  total $367,091 · program services $91,773 · management and general $275,318

• 7 · Other salaries and wages

  total $7,812,318 · program services $7,332,390 · management and general $431,427 · fundraising $48,501

• 8 · Pension plan contributions

  total $411,932 · program services $384,888 · management and general $23,097 · fundraising $3,947

• 9 · Other employee benefits

  total $681,961 · program services $579,438 · management and general $95,051 · fundraising $7,472

• 10 · Payroll taxes

  total $624,008 · program services $585,459 · management and general $34,116 · fundraising $4,433

• 11a · Fees: management

  total $1,975,974 · management and general $1,975,974

• 11b · Fees: legal

  total $40,793 · management and general $40,793

• 11f · Fees: investment management

  total $9,185 · management and general $9,185

• 11g · Fees: other

  total $193,266 · program services $87,413 · management and general $105,853

• 12 · Advertising and promotion

  total $3,465,207 · management and general $3,465,207

• 13 · Office expenses

  total $269,562 · program services $243,219 · management and general $25,837 · fundraising $506

• 14 · Information technology

  total $90,391 · program services $88,404 · management and general $1,987

• 16 · Occupancy

  total $745,297 · program services $623,807 · management and general $121,490

• 17 · Travel

  total $90,351 · program services $81,168 · management and general $9,124 · fundraising $59

• 19 · Conferences, conventions and meetings

  total $97,980 · program services $78,761 · management and general $18,105 · fundraising $1,114

• 20 · Interest

  total $390,538 · program services $347,698 · management and general $42,840

• 22 · Depreciation, depletion and amortization

  total $500,816 · program services $451,917 · management and general $48,899

• 23 · Insurance

  total $201,919 · management and general $201,919

• 24a · Other expenses: Student Services

  total $2,216,144 · program services $2,213,490 · management and general $2,654

• 24b · Other expenses: Bad Debt

  total $448,347 · management and general $448,347

• 24c · Other expenses: Dues and Memberships

  total $45,614 · program services $30,639 · management and general $14,975

• 24d · Other expenses: Subscriptions and Publi

  total $38,183 · program services $27,646 · management and general $7,874 · fundraising $2,663

• 24e · All other expenses

  total $394,866 · program services $167,516 · management and general $224,460 · fundraising $2,890

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,313,858 · end of year $4,824,850

• 2 · Savings and temporary cash investments

  beginning of year $19,661 · end of year $131,032

• 3 · Pledges and grants receivable

  beginning of year $508,584 · end of year $259,848

• 4 · Accounts receivable

  beginning of year $314,771 · end of year $407,292

• 9 · Prepaid expenses and deferred charges

  beginning of year $212,150 · end of year $230,289

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

  $31,467,609

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

  $4,369,097

• 10c · Land, buildings and equipment, net

  beginning of year $27,527,945 · end of year $27,098,512

• 11 · Investments: publicly traded securities

  beginning of year $11,479,741 · end of year $11,025,043

• 13 · Investments: program-related

  beginning of year $117,267 · end of year $6,001

• 15 · Other assets

  beginning of year $296,008 · end of year $731,617

• 17 · Accounts payable and accrued expenses

  beginning of year $2,074,656 · end of year $1,337,251

• 19 · Deferred revenue

  beginning of year $3,344,151 · end of year $3,233,286

• 20 · Tax-exempt bond liabilities

  beginning of year $15,366,388 · end of year $14,795,388

• 23 · Secured mortgages and notes payable

  beginning of year $2,198,594 · end of year $2,124,542

• 25 · Other liabilities

  beginning of year $163,409 · end of year $134,272

• 27 · Net assets without donor restrictions

  beginning of year $14,453,753 · end of year $16,174,556

• 28 · Net assets with donor restrictions

  beginning of year $7,189,034 · end of year $6,915,189

The filer's explanations (Part III)

Part I, Line 1a

During the 2022 calendar year, Pacific Oaks Education Corporation provided the following benefit to President Jack Paduntin. It was reported as taxable compensation on his 2022 Form W-2. - taxable housing allowance of $20,000

Part I, Line 3

Pacific Oaks College and Children's School, with support from a related organization, TCS Education System, used one or more of the methods described below to establish the top management official's compensation: - Compensation Committee - Independent Compensation Consultant - Compensation Survey or Study - Form 990 of other organizations - Approval by the Board of Compensation Committee

Part I, Lines 4a-b

Part I, Line 4a: The following individual received severance payments in 2022. These payments are reported as taxable compensation on Part VII, column D: - Judy Magee - $45,407 Part I, Line 4b: TCS Education System provides a supplemental deferred compensation plan for certain executives. The following individuals participate in the plan: - Michael Horowitz

Part I, Line 7

The target opportunity for the discretionary award is established through market compensation and internal policy so as to relate pay, performance and rewards. Upon reviewing annual performance, the Executive Committee of the Board of Trustees determines results and the granting of discretionary awards, if any.

Related corporations and trusts

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

• University of Western States Health Care Incorporated

  C · Health Care · OR · controlled entity