Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $720,499

• 1e · Government grants (contributions)

  $549,241

• 1f · All other contributions, gifts and grants

  $16,027,248

• 1g · Noncash contributions included above

  $191,168

• 2a · Program service revenue: STUDENT TUITION & FEES

  total $65,259,277 · related or exempt $65,259,277

• 2b · Program service revenue: RESIDENCE HALLS

  total $5,270,042 · related or exempt $5,270,042

• 2c · Program service revenue: DINING SERVICES

  total $2,616,145 · related or exempt $2,616,145

• 2d · Program service revenue: STUDY ABROAD

  total $92,975 · related or exempt $92,975

• 3 · Investment income

  total $172,818 · excluded $172,818

• 4 · Income from investment of tax-exempt bond proceeds

  total $62,977 · excluded $62,977

• 6a · Gross rents

  real property $267,116

• 6b · Less rental expenses

  real property $13,520

• 6c · Rental income or loss

  real property $253,596

• 6d · Net rental income or loss

  total $253,596 · excluded $253,596

• 7a · Gross sales of assets other than inventory

  securities $192,619 · other assets $9,907,992

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

  securities $191,168 · other assets $1,137,904

• 7c · Gain or loss

  securities $1,451 · other assets $8,770,088

• 7d · Net gain or loss

  total $8,771,539 · excluded $8,771,539

• 8a · Fundraising events: gross income

  $24,750

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

  $720,499

• 8b · Fundraising events: direct expenses

  $146,175

• 8c · Net income from fundraising events

  total -$121,425 · excluded -$121,425

• 10a · Gross sales of inventory

  $154,560

• 10b · Cost of goods sold

  $106,179

• 10c · Net income from sales of inventory

  total $48,381 · excluded $48,381

• 11a · Other revenue: PEW/PEI OVERHEAD

  total $206,491 · excluded $206,491

• 11b · Other revenue: REBATES

  total $79,570 · excluded $79,570

• 11c · Other revenue: IMAGING LAB REVENUE

  total $43,229 · excluded $43,229

• 11d · All other revenue

  total $216,792 · unrelated business -$4,853 · excluded $221,645

• 11e · Other revenue, total

  $546,082

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $11,227,290 · program services $11,227,290

• 2 · Grants to domestic individuals

  total $31,678,474 · program services $31,678,474

• 3 · Grants to foreign organizations and individuals

  total $108,525 · program services $108,525

• 5 · Compensation of officers, directors and key employees

  total $2,010,605 · program services $357,501 · management and general $1,405,483 · fundraising $247,621

• 7 · Other salaries and wages

  total $22,583,179 · program services $18,653,384 · management and general $3,562,074 · fundraising $367,721

• 8 · Pension plan contributions

  total $652,963 · program services $540,643 · management and general $104,453 · fundraising $7,867

• 9 · Other employee benefits

  total $3,047,144 · program services $2,884,144 · management and general $64,345 · fundraising $98,655

• 10 · Payroll taxes

  total $1,647,281 · program services $1,288,984 · management and general $328,278 · fundraising $30,019

• 11b · Fees: legal

  total $659,450 · management and general $659,450

• 11c · Fees: accounting

  total $118,291 · program services $25,791 · management and general $92,500

• 11d · Fees: lobbying

  total $126,000 · fundraising $126,000

• 11f · Fees: investment management

  total $298,225 · management and general $298,225

• 11g · Fees: other

  total $14,001,861 · program services $2,181,672 · management and general $11,717,134 · fundraising $103,055

• 12 · Advertising and promotion

  total $251,138 · program services $239,904 · management and general $6,655 · fundraising $4,579

• 13 · Office expenses

  total $2,313,076 · program services $1,705,291 · management and general $554,176 · fundraising $53,609

• 14 · Information technology

  total $1,037,217 · program services $671,735 · management and general $365,482

• 16 · Occupancy

  total $1,426,098 · program services $519,602 · management and general $887,136 · fundraising $19,360

• 17 · Travel

  total $1,258,183 · program services $1,110,894 · management and general $137,657 · fundraising $9,632

• 19 · Conferences, conventions and meetings

  total $133,608 · program services $111,006 · management and general $22,602

• 20 · Interest

  total $2,355,633 · management and general $2,355,633

• 22 · Depreciation, depletion and amortization

  total $5,117,716 · management and general $5,117,716

• 23 · Insurance

  total $744,736 · program services $10,469 · management and general $734,267

• 24a · Other expenses: REPAIRS AND MAINTENANCE

  total $658,348 · program services $67,074 · management and general $591,274

• 24b · Other expenses: HONORARIA

  total $612,327 · program services $513,431 · management and general $98,896

• 24c · Other expenses: R.A. HOUSING

  total $571,845 · program services $571,845

• 24d · Other expenses: INSTRUCTIONAL EQUIPMENT

  total $347,501 · program services $311,575 · management and general $35,926

• 24e · All other expenses

  total $1,373,822 · program services $1,104,891 · management and general $157,025 · fundraising $111,906

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,310,439 · end of year $3,890,980

• 2 · Savings and temporary cash investments

  beginning of year $1,902,268 · end of year $4,631,655

• 3 · Pledges and grants receivable

  beginning of year $19,660,478 · end of year $17,177,812

• 4 · Accounts receivable

  beginning of year $543,751 · end of year $225,545

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,292,750 · end of year $949,425

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

  $213,092,558

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

  $118,623,491

• 10c · Land, buildings and equipment, net

  beginning of year $94,500,367 · end of year $94,469,067

• 11 · Investments: publicly traded securities

  beginning of year $48,470,892 · end of year $48,171,497

• 12 · Investments: other securities

  beginning of year $13,773,395 · end of year $14,900,786

• 13 · Investments: program-related

  beginning of year $594,581 · end of year $545,372

• 15 · Other assets

  beginning of year $3,886,919 · end of year $4,306,353

• 17 · Accounts payable and accrued expenses

  beginning of year $7,972,636 · end of year $8,108,459

• 19 · Deferred revenue

  beginning of year $5,798,017 · end of year $5,441,723

• 20 · Tax-exempt bond liabilities

  beginning of year $46,370,165 · end of year $45,099,699

• 23 · Secured mortgages and notes payable

  end of year $2,000,000

• 25 · Other liabilities

  beginning of year $5,014,323 · end of year $5,183,472

• 27 · Net assets without donor restrictions

  beginning of year $35,164,642 · end of year $32,183,759

• 28 · Net assets with donor restrictions

  beginning of year $89,616,057 · end of year $91,251,380

The filer's explanations (Part III)

PART I, LINE 1A

AS A CONDITION OF EMPLOYMENT, THE PRESIDENT OF THE UNIVERSITY IS PROVIDED A HOUSING ALLOWANCE AS PART OF DAVID YAGER'S COMPENSATION PACKAGE. THE ALLOWANCE IS INCLUDED IN TAXABLE INCOME.

PART I, LINE 4B

DAVID YAGER, PRESIDENT AND CEO, PARTICIPATES IN A 457 DEFERRED COMPENSATION PLAN. AT THE END OF THE YEAR, THE TOTAL AMOUNT OF EMPLOYER CONTRIBUTIONS TO THE PLAN WAS $157,425. THIS COMPENSATION IS REFLECTED AS A PART OF THE DEFERRED COMPENSATION REPORTED ON FORM 990, PART VII AND SCHEDULE J, PART II, COLUMN (C). THE FULL AMOUNT WAS REMITTED TO THE EMPLOYEE IN JULY 2023.