Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $180,155

• 1e · Government grants (contributions)

  $30,385

• 1f · All other contributions, gifts and grants

  $1,777,923

• 1g · Noncash contributions included above

  $53,530

• 2a · Program service revenue: Student Tuition/Fees

  total $10,034,658 · related or exempt $10,034,658

• 2b · Program service revenue: Auxiliary Enterprises

  total $2,049,389 · related or exempt $2,049,389

• 2f · All other program service revenue

  total $157,237 · related or exempt $157,237

• 3 · Investment income

  total $390,084 · excluded $390,084

• 6a · Gross rents

  real property $9,831

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $9,831

• 6d · Net rental income or loss

  total $9,831 · excluded $9,831

• 7a · Gross sales of assets other than inventory

  securities $1,482,440 · other assets $619

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

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $1,482,440 · other assets $619

• 7d · Net gain or loss

  total $1,483,059 · excluded $1,483,059

• 8a · Fundraising events: gross income

  $77,211

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

  $180,155

• 8b · Fundraising events: direct expenses

  $74,957

• 8c · Net income from fundraising events

  total $2,254 · excluded $2,254

• 10a · Gross sales of inventory

  $12,540

• 10b · Cost of goods sold

  $10,092

• 10c · Net income from sales of inventory

  total $2,448 · excluded $2,448

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $4,526,167 · program services $4,526,167

• 5 · Compensation of officers, directors and key employees

  total $353,959 · management and general $353,959

• 7 · Other salaries and wages

  total $6,474,296 · program services $5,188,035 · management and general $978,719 · fundraising $307,542

• 8 · Pension plan contributions

  total $77,248 · program services $59,055 · management and general $14,692 · fundraising $3,501

• 9 · Other employee benefits

  total $739,284 · program services $597,224 · management and general $106,657 · fundraising $35,403

• 10 · Payroll taxes

  total $472,724 · program services $361,390 · management and general $89,911 · fundraising $21,423

• 11a · Fees: management

  total $143,148 · management and general $143,148

• 11b · Fees: legal

  total $39,929 · management and general $39,929

• 11c · Fees: accounting

  total $85,070 · management and general $85,070

• 11f · Fees: investment management

  total $41,449 · management and general $41,449

• 11g · Fees: other

  total $1,640,267 · program services $1,056,969 · management and general $570,816 · fundraising $12,482

• 12 · Advertising and promotion

  total $147,834 · program services $14,807 · management and general $72,523 · fundraising $60,504

• 13 · Office expenses

  total $200,650 · program services $155,178 · management and general $37,265 · fundraising $8,207

• 16 · Occupancy

  total $818,471 · program services $460,307 · management and general $357,782 · fundraising $382

• 17 · Travel

  total $385,893 · program services $365,763 · management and general $12,927 · fundraising $7,203

• 19 · Conferences, conventions and meetings

  total $71,625 · program services $67,129 · management and general $42 · fundraising $4,454

• 20 · Interest

  total $264,625 · program services $264,625

• 22 · Depreciation, depletion and amortization

  total $1,132,971 · program services $1,119,103 · management and general $12,712 · fundraising $1,156

• 23 · Insurance

  total $146,362 · program services $121,547 · management and general $24,319 · fundraising $496

• 24a · Other expenses: Bad Debt

  total $1,005,050 · management and general $1,005,050

• 24b · Other expenses: Direct Student Expense

  total $384,331 · program services $384,331

• 24c · Other expenses: Special Events

  total $106,757 · program services $104,945 · management and general $1,812

• 24e · All other expenses

  total $236,964 · program services $47,168 · management and general $158,924 · fundraising $30,872

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,700,126 · end of year $3,376,976

• 3 · Pledges and grants receivable

  beginning of year $441,910

• 4 · Accounts receivable

  beginning of year $434,904 · end of year $190,528

• 8 · Inventories for sale or use

  beginning of year $6,013

• 9 · Prepaid expenses and deferred charges

  beginning of year $84,378 · end of year $43,063

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

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $17,359,080

• 11 · Investments: publicly traded securities

  beginning of year $13,692,324 · end of year $11,024,648

• 12 · Investments: other securities

  beginning of year $28,143 · end of year $28,144

• 13 · Investments: program-related

  beginning of year $42,199 · end of year $18,899

• 15 · Other assets

  beginning of year $284,604 · end of year $71,332

• 17 · Accounts payable and accrued expenses

  beginning of year $567,188 · end of year $955,938

• 19 · Deferred revenue

  beginning of year $612,194 · end of year $109,414

• 20 · Tax-exempt bond liabilities

  beginning of year $7,369,840 · end of year $7,090,680

• 21 · Escrow or custodial account liability

  beginning of year $73,090 · end of year $2,045

• 23 · Secured mortgages and notes payable

  beginning of year $61,138 · end of year $24,123

• 25 · Other liabilities

  beginning of year $380,713 · end of year $197,873

• 27 · Net assets without donor restrictions

  beginning of year $11,048,861 · end of year -$6,370,157

• 28 · Net assets with donor restrictions

  beginning of year $15,960,657 · end of year $12,743,674

The filer's explanations (Part III)

Part I, Line 1a

President's housing allowance & President's country club membership, both of which are approved by the Board of Trustees.