Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $1,000,000

• 1e · Government grants (contributions)

  $953,592

• 1f · All other contributions, gifts and grants

  $6,086,626

• 1g · Noncash contributions included above

  $9,932

• 2a · Program service revenue: Tuition and fees

  total $65,518,991 · related or exempt $65,518,991

• 2b · Program service revenue: Auxiliary enterprises

  total $6,976,451 · related or exempt $6,976,451

• 2f · All other program service revenue

  total $1,406,326 · related or exempt $1,406,326 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $4,002,632 · excluded $4,002,632

• 6a · Gross rents

  real property $17,573

• 6c · Rental income or loss

  real property $17,573 · personal property $0

• 6d · Net rental income or loss

  total $17,573 · excluded $17,573

• 7a · Gross sales of assets other than inventory

  securities $64,734,241

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

  securities $58,930,375

• 7c · Gain or loss

  securities $5,803,866 · other assets $0

• 7d · Net gain or loss

  total $5,803,866 · excluded $5,803,866

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $30,303,432 · program services $30,303,432

• 5 · Compensation of officers, directors and key employees

  total $778,955 · program services $704,760 · management and general $51,985 · fundraising $22,210

• 6 · Compensation of disqualified persons

  total $12,000 · program services $11,114 · management and general $544 · fundraising $342

• 7 · Other salaries and wages

  total $30,468,257 · program services $28,219,816 · management and general $1,380,177 · fundraising $868,264

• 8 · Pension plan contributions

  total $1,489,904 · program services $1,238,756 · management and general $208,593 · fundraising $42,555

• 9 · Other employee benefits

  total $2,921,839 · program services $2,429,313 · management and general $409,071 · fundraising $83,455

• 10 · Payroll taxes

  total $1,780,733 · program services $1,480,560 · management and general $249,311 · fundraising $50,862

• 11b · Fees: legal

  total $158,554 · management and general $158,554

• 11c · Fees: accounting

  total $126,470 · management and general $126,470

• 11f · Fees: investment management

  total $595,536 · management and general $595,536

• 11g · Fees: other

  total $3,218,586 · program services $1,847,571 · management and general $1,205,238 · fundraising $165,777

• 12 · Advertising and promotion

  total $1,327,015 · program services $1,137,845 · management and general $75,692 · fundraising $113,478

• 13 · Office expenses

  total $1,380,003 · program services $889,329 · management and general $435,466 · fundraising $55,208

• 14 · Information technology

  total $853,178 · program services $636,875 · management and general $196,390 · fundraising $19,913

• 16 · Occupancy

  total $5,402,433 · program services $5,050,832 · management and general $341,073 · fundraising $10,528

• 17 · Travel

  total $786,744 · program services $674,591 · management and general $44,875 · fundraising $67,278

• 20 · Interest

  total $2,216,655 · program services $2,133,974 · management and general $72,263 · fundraising $10,418

• 22 · Depreciation, depletion and amortization

  total $6,299,547 · program services $6,011,154 · management and general $259,046 · fundraising $29,347

• 23 · Insurance

  total $1,012,739 · program services $547,806 · management and general $407,292 · fundraising $57,641

• 24a · Other expenses: Equipment & supplies

  total $1,178,335 · program services $637,380 · management and general $473,890 · fundraising $67,065

• 24b · Other expenses: Recruiting

  total $1,081,447 · program services $927,283 · management and general $61,685 · fundraising $92,479

• 24c · Other expenses: Professional development

  total $495,547 · program services $424,905 · management and general $28,266 · fundraising $42,376

• 24d · Other expenses: Program Events

  total $391,514 · program services $335,702 · management and general $22,332 · fundraising $33,480

• 24e · All other expenses

  total $1,134,283 · program services $767,729 · management and general $285,774 · fundraising $80,780

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,749,458 · end of year $6,440,488

• 2 · Savings and temporary cash investments

  beginning of year $2,343,190 · end of year $1,410,487

• 4 · Accounts receivable

  beginning of year $5,534,257 · end of year $1,561,281

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

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

  $198,024,675

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

  $90,177,908

• 10c · Land, buildings and equipment, net

  beginning of year $111,709,444 · end of year $107,846,767

• 11 · Investments: publicly traded securities

  beginning of year $95,984,563 · end of year $87,744,910

• 12 · Investments: other securities

  beginning of year $98,698,269 · end of year $111,675,817

• 13 · Investments: program-related

  beginning of year $1,872,203 · end of year $1,924,623

• 15 · Other assets

  beginning of year $5,051,093 · end of year $5,468,372

• 17 · Accounts payable and accrued expenses

  beginning of year $5,463,629 · end of year $5,641,265

• 19 · Deferred revenue

  beginning of year $1,354,002 · end of year $1,833,547

• 20 · Tax-exempt bond liabilities

  beginning of year $78,777,588 · end of year $75,662,018

• 22 · Loans and payables to officers and key people

  end of year $0

• 25 · Other liabilities

  beginning of year $2,727,592 · end of year $2,157,190

• 27 · Net assets without donor restrictions

  beginning of year $146,718,305 · end of year $143,897,812

• 28 · Net assets with donor restrictions

  beginning of year $91,901,361 · end of year $94,880,913

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions

The President's spouse occasionally travels with her for College related business. The travel is for a bona fide business purpose and is therefore treated as nontaxable.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

As a condition of employment, and as a convenience to the University, the President is provided a home on University grounds. The home is provided as a nontaxable benefit to the President.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

Dues paid for the President were considered a bona-fide business expense for networking opportunities beneficial to the institution.