Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $11,679,261

• 1f · All other contributions, gifts and grants

  $5,322,540

• 1g · Noncash contributions included above

  $119,898

• 2a · Program service revenue: TUITION AND FEES

  total $98,461,119 · related or exempt $98,461,119

• 2b · Program service revenue: SALES AND SERVICES OF EDUCATIONAL ACTIVITIES

  total $2,540,471 · related or exempt $2,540,471

• 2c · Program service revenue: AUXILIARY ENTERPRISES

  total $2,074,742 · related or exempt $2,074,742

• 3 · Investment income

  total $2,330,882 · excluded $2,330,882

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

  total $0

• 5 · Royalties

  total $0

• 6a · Gross rents

  real property $150,481

• 6b · Less rental expenses

  real property $239,813

• 6c · Rental income or loss

  real property -$89,332 · personal property $0

• 6d · Net rental income or loss

  total -$89,332 · related or exempt -$89,332

• 7a · Gross sales of assets other than inventory

  securities $14,546,000

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

  securities $14,968,722

• 7c · Gain or loss

  securities -$422,722

• 7d · Net gain or loss

  total -$422,722 · excluded -$422,722

• 8a · Fundraising events: gross income

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0

• 10a · Gross sales of inventory

  $0

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $0

• 11a · Other revenue: OTHER

  total $762,865 · related or exempt $762,865

• 11b · Other revenue: CLAIM SETTLEMENT

  total $4,104,548 · related or exempt $4,104,548

• 11e · Other revenue, total

  $4,867,413

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $8,484,217 · program services $8,484,217

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $1,832,895 · program services $1,090,572 · management and general $549,869 · fundraising $192,454

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $58,105,519 · program services $51,942,767 · management and general $5,412,063 · fundraising $750,689

• 8 · Pension plan contributions

  total $1,890,754 · program services $1,690,391 · management and general $175,957 · fundraising $24,406

• 9 · Other employee benefits

  total $8,692,206 · program services $7,769,554 · management and general $810,263 · fundraising $112,389

• 10 · Payroll taxes

  total $4,290,552 · program services $3,835,881 · management and general $399,287 · fundraising $55,384

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $101,692 · management and general $101,692

• 11c · Fees: accounting

  total $84,950 · management and general $84,950

• 11d · Fees: lobbying

  total $60,307 · management and general $60,307

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $153,097 · management and general $153,097

• 11g · Fees: other

  total $12,708,063 · program services $11,415,836 · management and general $1,046,659 · fundraising $245,568

• 12 · Advertising and promotion

  total $718,839 · program services $476,140 · management and general $93,738 · fundraising $148,961

• 13 · Office expenses

  total $1,675,837 · program services $1,498,248 · management and general $175,557 · fundraising $2,032

• 14 · Information technology

  total $2,051,825 · program services $1,834,393 · management and general $190,946 · fundraising $26,486

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $5,939,399 · program services $5,454,072 · management and general $426,209 · fundraising $59,118

• 17 · Travel

  total $620,372 · program services $573,430 · management and general $45,857 · fundraising $1,085

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $1,087,324 · program services $929,661 · management and general $148,545 · fundraising $9,118

• 20 · Interest

  total $896,483 · program services $799,723 · management and general $84,974 · fundraising $11,786

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $2,626,591 · program services $2,343,095 · management and general $248,963 · fundraising $34,533

• 23 · Insurance

  total $592,369 · program services $529,596 · management and general $55,127 · fundraising $7,646

• 24a · Other expenses: OTHER

  total $5,841,795 · program services $5,581,536 · management and general $210,351 · fundraising $49,908

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $19,405,777 · end of year $14,375,312

• 3 · Pledges and grants receivable

  beginning of year $250,755 · end of year $0

• 4 · Accounts receivable

  beginning of year $7,279,044 · end of year $8,737,959

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $961,636 · end of year $414,472

• 8 · Inventories for sale or use

  beginning of year $0 · end of year $0

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,517,481 · end of year $2,565,817

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

  $90,192,576

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

  $36,441,789

• 10c · Land, buildings and equipment, net

  beginning of year $54,334,252 · end of year $53,750,787

• 11 · Investments: publicly traded securities

  beginning of year $41,859,956 · end of year $54,617,263

• 12 · Investments: other securities

  beginning of year $3,363,993 · end of year $4,129,551

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $0 · end of year $4,338,023

• 17 · Accounts payable and accrued expenses

  beginning of year $6,029,807 · end of year $4,415,882

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $6,673,786 · end of year $6,695,716

• 20 · Tax-exempt bond liabilities

  beginning of year $23,054,210 · end of year $22,006,384

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $744,959 · end of year $5,117,045

• 27 · Net assets without donor restrictions

  beginning of year $75,358,254 · end of year $86,720,144

• 28 · Net assets with donor restrictions

  beginning of year $17,111,878 · end of year $17,974,013

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A

THE UNIVERSITY HAS A MEMBERSHIP IN A LOCAL SOCIAL CLUB THAT IS IN THE PRESIDENT'S NAME WHICH IS FOR THE PURPOSE OF HELPING PROMOTE AND CONDUCT BUSINESS ON BEHALF OF THE UNIVERSITY. THE SOCIAL CLUB MEMBERSHIP IS USED 100 PERCENT FOR BUSINESS AND THE PRESIDENT USES THE ACCOUNTABLE PLAN RULES FOR DOCUMENTING THE BUSINESS USE.

SCHEDULE J, PART I, LINE 4A

SAIB OTHMAN RECEIVED $56,250 IN SEVERANCE. THIS PAYMENT WAS INCLUDED ON THE EMPLOYEE'S CALENDAR YEAR 2022 W-2 AND RECORDED IN PART II, COLUMN (B)(III) ON SCHEDULE J.

SCHEDULE J, PART I, LINE 4B

THE UNIVERSITY CURRENTLY HAS A 457(F) DEFERRED COMPENSATION PLAN IN PLACE WITH THE UNIVERSITY'S PRESIDENT WHEREBY THE UNIVERSITY MAKES AN ANNUAL CONTRIBUTION INTO THE PLAN WHERE THE FUNDS ARE INVESTED IN ACCORDANCE WITH THE PLAN GUIDELINES. FOR CALENDAR YEAR 2022, THE UNIVERSITY CONTRIBUTED $100,000 INTO THE PLAN. $100,000 OF DEFERRED COMPENSATION IS REPORTED IN SCHEDULE J PART II COLUMN C. THE PLAN CURRENTLY PROVIDES THAT IF THE UNIVERSITY PRESIDENT REMAINS EMPLOYED BY THE UNIVERSITY FOR THREE YEARS AND ACHIEVES CERTAIN OBJECTIVES, THE BALANCE IN THE PLAN AT THE END OF SUCH THREE-YEAR PERIOD VESTS AND IS PAID TO THE UNIVERSITY PRESIDENT AT THAT TIME. IN JUNE 2022, THE THREE-YEAR VESTING PERIOD FROM JULY 1, 2019 - JUNE 30, 2022 WAS COMPLETED AND A PAYMENT OF $333,618 WAS PROVIDED TO THE PRESIDENT FROM THE PLAN REPRESENTING THE ACCUMULATED BALANCE IN THE PLAN FOR THAT THREE-YEAR PERIOD. THIS AMOUNT IS INCLUDED ON THE PRESIDENT'S CALENDAR YEAR 2020 W-2 AND IS RECORDED IN PART II, COLUMN (B)(III) ON SCHEDULE J.

SCHEDULE J, PART I, LINE 4B

TO RETAIN TALENT WITHIN THE UNIVERSITY'S EXECUTIVE TEAM, THE BOARD OF TRUSTEES APPROVES RETENTION CONTRACTS FOR CERTAIN EMPLOYEES. THE CONTRACTS STATE IF THE EMPLOYEES MEET AGREED UPON OBJECTIVES AND ARE STILL WORKING WITH THE UNIVERSITY AT THE END OF A THREE-YEAR PERIOD, A RETENTION BONIS IS PAID. DURING CALENDAR YEAR 2022, RETENTION BONUSES WERE PAID TO AARTI DHUPELIA AND MARTY MICKEY IN THE AMOUNTS OF $75,000 AND $75,000, RESPECTIVELY, FOR SERVICES PERFORMED OVER FISCAL YEAR 2019 - 2022. THESE PAYMENTS ARE INCLUDED ON THE EMPLOYEE'S CALENDAR YEAR 2022 W-2 AND RECORDED IN PART II, COLUMN (B)(II) ON SCHEDULE J. DURING THE FISCAL YEAR ENDING JUNE 30, 2023, NO ADDITIONAL RETENTION CONTRACTS WERE AWARDED.

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUST (1)

  TRUST · CRT · IL

  Directly controlled by NLU