Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $37,800

• 1d · Related organizations

  $159,286

• 1e · Government grants (contributions)

  $2,250,814

• 1f · All other contributions, gifts and grants

  $23,667,309

• 1g · Noncash contributions included above

  $3,397,046

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

  total $222,636,829 · related or exempt $222,636,829

• 2b · Program service revenue: RESIDENCE HALLS/ROOM & BOARD

  total $26,079,035 · related or exempt $26,079,035

• 2c · Program service revenue: ATHLETIC REVENUE

  total $15,212,728 · related or exempt $15,212,728

• 2d · Program service revenue: AUXILIARY REVENUE

  total $15,020,292 · related or exempt $15,020,292

• 2e · Program service revenue: OTHER MISCELLANEOUS

  total $3,891,367 · related or exempt $3,891,367

• 2f · All other program service revenue

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

• 3 · Investment income

  total $7,656,624 · unrelated business $281,926 · excluded $7,374,698

• 6a · Gross rents

  personal property $156,372

• 6b · Less rental expenses

  personal property $36,167

• 6c · Rental income or loss

  real property $0 · personal property $120,205

• 6d · Net rental income or loss

  total $120,205 · unrelated business $120,205

• 7a · Gross sales of assets other than inventory

  securities $95,940,685

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

  securities $91,961,388

• 7c · Gain or loss

  securities $3,979,297 · other assets $0

• 7d · Net gain or loss

  total $3,979,297 · excluded $3,979,297

• 8a · Fundraising events: gross income

  $13,950

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

  $37,800

• 8b · Fundraising events: direct expenses

  $8,078

• 8c · Net income from fundraising events

  total $5,872 · excluded $5,872

• 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.

• 1 · Grants to domestic organizations and governments

  total $0 · program services $0

• 2 · Grants to domestic individuals

  total $94,317,547 · program services $94,317,547

• 3 · Grants to foreign organizations and individuals

  total $1,018,649 · program services $1,018,649

• 5 · Compensation of officers, directors and key employees

  total $1,689,718 · management and general $1,277,856 · fundraising $411,862

• 6 · Compensation of disqualified persons

  total $63,457 · management and general $63,457

• 7 · Other salaries and wages

  total $97,601,112 · program services $78,474,992 · management and general $17,136,679 · fundraising $1,989,441

• 8 · Pension plan contributions

  total $7,561,206 · program services $5,894,926 · management and general $1,479,643 · fundraising $186,637

• 9 · Other employee benefits

  total $18,060,789 · program services $13,328,296 · management and general $4,333,312 · fundraising $399,181

• 10 · Payroll taxes

  total $6,880,404 · program services $5,393,957 · management and general $1,333,134 · fundraising $153,313

• 11b · Fees: legal

  total $264,922 · program services $21,029 · management and general $243,893

• 11c · Fees: accounting

  total $271,545 · management and general $271,545

• 11d · Fees: lobbying

  total $42,000 · management and general $42,000

• 11f · Fees: investment management

  total $3,409,176 · management and general $3,409,176

• 11g · Fees: other

  total $29,875,992 · program services $23,788,751 · management and general $5,902,637 · fundraising $184,604

• 12 · Advertising and promotion

  total $1,961,266 · program services $1,177,196 · management and general $782,453 · fundraising $1,617

• 13 · Office expenses

  total $7,684,626 · program services $6,815,678 · management and general $721,206 · fundraising $147,742

• 14 · Information technology

  total $1,244,890 · program services $879,736 · management and general $304,099 · fundraising $61,055

• 16 · Occupancy

  total $8,325,453 · program services $7,338,579 · management and general $985,361 · fundraising $1,513

• 17 · Travel

  total $11,716,837 · program services $10,371,301 · management and general $919,209 · fundraising $426,327

• 19 · Conferences, conventions and meetings

  total $491,325 · program services $412,026 · management and general $79,299

• 20 · Interest

  total $5,428,736 · program services $4,943,348 · management and general $485,388

• 22 · Depreciation, depletion and amortization

  total $27,000,321 · program services $25,070,898 · management and general $1,929,423

• 23 · Insurance

  total $2,515,184 · program services $1,736,662 · management and general $778,522

• 24a · Other expenses: AUXILIARY

  total $4,763,081 · program services $4,451,910 · management and general $281,791 · fundraising $29,380

• 24b · Other expenses: REPAIRS & MAINTENANCE

  total $1,040,116 · program services $979,137 · management and general $60,972 · fundraising $7

• 24c · Other expenses: DUES, FEES, & SUBSCRIPTIONS

  total $1,523,006 · program services $907,777 · management and general $588,247 · fundraising $26,982

• 24d · Other expenses: MISCELLANEOUS

  total $1,384,404 · program services $1,180,459 · management and general $190,451 · fundraising $13,494

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $7,622,923 · end of year $4,690,009

• 3 · Pledges and grants receivable

  beginning of year $11,485,458 · end of year $15,866,155

• 4 · Accounts receivable

  beginning of year $4,555,114 · end of year $4,934,402

• 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 $21,349,675 · end of year $20,546,039

• 8 · Inventories for sale or use

  beginning of year $650,180 · end of year $165,775

• 9 · Prepaid expenses and deferred charges

  beginning of year $5,603,696 · end of year $5,840,196

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

  $629,733,229

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

  $332,808,373

• 10c · Land, buildings and equipment, net

  beginning of year $298,747,726 · end of year $296,924,856

• 11 · Investments: publicly traded securities

  beginning of year $148,852,001 · end of year $109,375,201

• 12 · Investments: other securities

  beginning of year $229,145,172 · end of year $283,904,424

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $18,577,722 · end of year $13,971,772

• 17 · Accounts payable and accrued expenses

  beginning of year $29,925,309 · end of year $23,682,474

• 19 · Deferred revenue

  beginning of year $17,526,745 · end of year $19,114,612

• 20 · Tax-exempt bond liabilities

  beginning of year $190,478,961 · end of year $179,829,127

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $6,398,520 · end of year $5,555,716

• 27 · Net assets without donor restrictions

  beginning of year $235,335,517 · end of year $232,000,596

• 28 · Net assets with donor restrictions

  beginning of year $266,924,615 · end of year $296,036,304

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

CHARTER TRAVEL IS OCCASIONALLY USED FOR CERTAIN ATHLETIC TEAM TRAVEL WHEN IT CREATES AN OPPORTUNITY TO REDUCE MISSED CLASS TIME FOR STUDENT ATHLETES. CHARTER TRAVEL IS ALSO USED BY ATHLETIC DEPARTMENT PERSONNEL ON A LIMITED BASIS FOR ATHLETIC RECRUITING PURPOSES AND BY JAMES DANKO, THE UNIVERSITY'S PRESIDENT, WHEN COMMERCIAL TRAVEL IS NOT EFFICIENT. THE VALUE OF PERSONAL TRAVEL IS INCLUDED IN MR. DANKO'S TAXABLE INCOME.

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

SPOUSAL TRAVEL IS PROVIDED TO THE ATHLETIC DIRECTOR, BARRY COLLIER, ON OCCASION. THE VALUE OF THIS SPOUSAL TRAVEL IS INCLUDED IN HIS TAXABLE INCOME.

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

BUTLER UNIVERSITY PROVIDES A RESIDENCE AND HOUSEHOLD SERVICES FOR JAMES DANKO, THE UNIVERSITY'S PRESIDENT. THE RESIDENCE AND HOUSEHOLD SERVICES ARE NOT INCLUDED IN MR. DANKO'S TAXABLE INCOME. THE RESIDENCE IS FURNISHED FOR THE CONVENIENCE OF BUTLER UNIVERSITY, AND IT IS AVAILABLE FOR USE TO HOST FACULTY, STAFF, AND STUDENT FUNCTIONS. JAMES DANKO WAS REQUIRED TO LIVE IN THE RESIDENCE AS A CONDITION OF HIS EMPLOYMENT, AND HIS RESIDENCE IS CONTIGUOUS TO BUTLER'S CAMPUS.

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

BUTLER UNIVERSITY PAYS SOCIAL CLUB DUES FOR JAMES DANKO, BARRY COLLIER, THAD MATTA, AND AUSTIN PARKINSON. THE PERSONAL USE OF THESE DUES IS INCLUDED IN EACH EMPLOYEE'S TAXABLE INCOME.

Schedule J, Part I, Line 7 Non-fixed payments

THE BONUSES INCLUDED IN PART II, COLUMN (II) ARE PERFORMANCE-BASED BONUSES FOR 2022-23. THESE BONUSES WERE APPROVED BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• BUTLER UNIVERSITY INVESTMENTS LLC

  INVESTMENTS · IN · income $979 · assets $21,472

  Directly controlled by BUTLER UNIV

• BUTLER UNIVERSITY INSURANCE HOLDINGS LLC

  INSURANCE · IN · income $80,312 · assets $289,358

  Directly controlled by BUTLER UNIV

• BUTLER VENTURES

  INNOVATION · IN

  Directly controlled by BUTLER UNIV

• AVANTBLUE LLC

  TECH SERVICES · IN · income $1,932 · assets $41,199

  Directly controlled by BUTLER UNIV

Related corporations and trusts

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

• CHARITABLE REMAINDER UNITRUSTS (7)

  Trust · TRUST · IN

  Directly controlled by NA