Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $2,815,912

• 1g · Noncash contributions included above

  $25,500

• 2a · Program service revenue: TUITION AND FEES

  total $62,019,555 · related or exempt $62,019,555

• 2b · Program service revenue: ROOM AND BOARD

  total $10,088,193 · related or exempt $10,088,193

• 3 · Investment income

  total $106,986 · excluded $106,986

• 7a · Gross sales of assets other than inventory

  securities $1,976,195

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

  securities $0

• 7c · Gain or loss

  securities $1,976,195

• 7d · Net gain or loss

  total $1,976,195 · related or exempt $1,976,195

• 10a · Gross sales of inventory

  $110,541

• 10b · Cost of goods sold

  $229,539

• 10c · Net income from sales of inventory

  total -$118,998 · unrelated business -$118,998

• 11a · Other revenue: OTHER REVENUE

  total $142,341 · related or exempt $142,341

• 11e · Other revenue, total

  $142,341

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $40,751,006 · program services $40,751,006

• 5 · Compensation of officers, directors and key employees

  total $489,331 · program services $351,144 · management and general $112,350 · fundraising $25,837

• 7 · Other salaries and wages

  total $20,838,641 · program services $14,953,809 · management and general $4,784,552 · fundraising $1,100,280

• 8 · Pension plan contributions

  total $89,880 · program services $64,498 · management and general $20,636 · fundraising $4,746

• 9 · Other employee benefits

  total $52,369 · program services $37,580 · management and general $12,025 · fundraising $2,764

• 10 · Payroll taxes

  total $1,346,094 · program services $965,957 · management and general $309,063 · fundraising $71,074

• 11c · Fees: accounting

  total $74,550 · management and general $74,550

• 11f · Fees: investment management

  total $132,271 · management and general $132,271

• 12 · Advertising and promotion

  total $538,060 · program services $538,060

• 14 · Information technology

  total $1,766,298 · program services $299,948 · management and general $1,414,962 · fundraising $51,388

• 17 · Travel

  total $826,926 · program services $763,364 · management and general $50,685 · fundraising $12,877

• 20 · Interest

  total $196,446 · program services $157,884 · management and general $38,562

• 22 · Depreciation, depletion and amortization

  total $4,161,039 · program services $3,344,239 · management and general $816,800

• 24a · Other expenses: FOOD SERVICES

  total $2,634,019 · program services $2,625,209 · management and general $3,464 · fundraising $5,346

• 24b · Other expenses: PROFESSIONAL & RECRUITM

  total $2,275,025 · program services $1,171,366 · management and general $1,071,234 · fundraising $32,425

• 24c · Other expenses: OTHER EXPENSES

  total $2,235,409 · program services $1,073,371 · management and general $935,720 · fundraising $226,318

• 24d · Other expenses: REPAIRS AND MAINTENANCE

  total $1,573,995 · program services $1,265,024 · management and general $308,971 · fundraising $0

• 24e · All other expenses

  total $242,816 · program services $242,816

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,975,508 · end of year $906,040

• 3 · Pledges and grants receivable

  beginning of year $2,750,843 · end of year $1,145,574

• 4 · Accounts receivable

  beginning of year $1,281,372 · end of year $1,229,280

• 8 · Inventories for sale or use

  beginning of year $56,472 · end of year $59,775

• 9 · Prepaid expenses and deferred charges

  beginning of year $324,952 · end of year $406,581

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

  $125,831,893

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

  $52,178,790

• 10c · Land, buildings and equipment, net

  beginning of year $75,797,491 · end of year $73,653,103

• 11 · Investments: publicly traded securities

  beginning of year $46,106,563 · end of year $50,755,399

• 12 · Investments: other securities

  beginning of year $198,225 · end of year $86,289

• 15 · Other assets

  beginning of year $1,433,974 · end of year $800,784

• 17 · Accounts payable and accrued expenses

  beginning of year $1,647,020 · end of year $1,618,785

• 19 · Deferred revenue

  beginning of year $1,359,780 · end of year $1,553,936

• 23 · Secured mortgages and notes payable

  beginning of year $6,394,346 · end of year $5,254,281

• 25 · Other liabilities

  beginning of year $995,236 · end of year $800,106

• 27 · Net assets without donor restrictions

  beginning of year $88,364,817 · end of year $86,740,280

• 28 · Net assets with donor restrictions

  beginning of year $31,164,201 · end of year $33,075,437

The filer's explanations (Part III)

PART I, LINE 1A

THE FORMER PRESIDENT HAD USE OF A UNIVERSITY OWNED RESIDENCE AS A CONDITION OF EMPLOYMENT TO PERFORM HIS DUTIES INTEGRALLY RELATED TO HIS RESPONSIBILITIES. THE CURRENT PRESIDENT WILL NOT USE THE UNIVERSITY OWNED RESIDENCE.