Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $33,100,313

• 1g · Noncash contributions included above

  $1,659,301

• 2a · Program service revenue: TUITION AND FEES

  total $57,403,171 · related or exempt $57,403,171

• 2b · Program service revenue: AUXILIARY PROGRAM

  total $1,224,939 · related or exempt $1,224,939

• 3 · Investment income

  total $3,342,272 · unrelated business -$694,250 · excluded $4,036,522

• 6a · Gross rents

  real property $160,178

• 6b · Less rental expenses

  real property $8,939

• 6c · Rental income or loss

  real property $151,239

• 6d · Net rental income or loss

  total $151,239 · excluded $151,239

• 7a · Gross sales of assets other than inventory

  securities $192,118,266

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

  securities $185,506,130 · other assets $2,755,915

• 7c · Gain or loss

  securities $6,612,136 · other assets -$2,755,915

• 7d · Net gain or loss

  total $3,856,221 · unrelated business $139,707 · excluded $3,716,514

• 10a · Gross sales of inventory

  $374,542

• 10b · Cost of goods sold

  $259,938

• 10c · Net income from sales of inventory

  total $114,604 · related or exempt $114,604

• 11a · Other revenue: SUMMER CAMP PROGRAMS

  total $331,533 · unrelated business $331,533

• 11b · Other revenue: ICE RINK

  total $275,794 · unrelated business $275,794

• 11d · All other revenue

  total $558,540 · excluded $558,540

• 11e · Other revenue, total

  $1,165,867

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,120,075 · program services $2,120,075

• 2 · Grants to domestic individuals

  total $15,236,042 · program services $15,236,042

• 5 · Compensation of officers, directors and key employees

  total $3,773,499 · program services $317,093 · management and general $2,698,919 · fundraising $757,487

• 7 · Other salaries and wages

  total $30,160,062 · program services $22,040,973 · management and general $4,025,037 · fundraising $4,094,052

• 8 · Pension plan contributions

  total $3,139,796 · program services $2,195,918 · management and general $409,086 · fundraising $534,792

• 9 · Other employee benefits

  total $1,987,706 · program services $1,431,697 · management and general $178,072 · fundraising $377,937

• 10 · Payroll taxes

  total $2,410,549 · program services $1,569,022 · management and general $433,181 · fundraising $408,346

• 11b · Fees: legal

  total $216,514 · management and general $216,135 · fundraising $379

• 11c · Fees: accounting

  total $151,334 · management and general $151,334

• 11e · Fees: professional fundraising services

  total $23,334 · fundraising $23,334

• 11f · Fees: investment management

  total $5,323,017 · management and general $5,323,017

• 11g · Fees: other

  total $2,783,318 · program services $2,000,814 · management and general $738,287 · fundraising $44,217

• 12 · Advertising and promotion

  total $162,467 · program services $43,605 · management and general $3,628 · fundraising $115,234

• 13 · Office expenses

  total $1,588,012 · program services $547,929 · management and general $886,704 · fundraising $153,379

• 14 · Information technology

  total $1,987,949 · program services $1,244,610 · management and general $293,598 · fundraising $449,741

• 16 · Occupancy

  total $3,488,176 · program services $2,582,928 · management and general $854,762 · fundraising $50,486

• 17 · Travel

  total $2,068,307 · program services $1,606,385 · management and general $154,946 · fundraising $306,976

• 19 · Conferences, conventions and meetings

  total $88,777 · program services $57,310 · management and general $24,212 · fundraising $7,255

• 20 · Interest

  total $508,426 · program services $481,688 · management and general $21,704 · fundraising $5,034

• 22 · Depreciation, depletion and amortization

  total $11,770,870 · program services $11,151,840 · management and general $502,480 · fundraising $116,550

• 23 · Insurance

  total $1,295,714 · program services $1,199,159 · management and general $84,352 · fundraising $12,203

• 24a · Other expenses: RISK MGMT & MITIGATION

  total $9,847,239 · program services $9,847,239

• 24b · Other expenses: FOOD SERVICE

  total $3,923,841 · program services $3,923,841

• 24c · Other expenses: NON-CAPITALIZED REPAIRS

  total $2,057,301 · program services $1,966,176 · management and general $91,125

• 24d · Other expenses: MISCELLANEOUS

  total $1,362,186 · program services $820,952 · management and general $449,787 · fundraising $91,447

• 24e · All other expenses

  total $1,949,875 · program services $1,294,294 · management and general $210,890 · fundraising $444,691

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $46,765,292 · end of year $14,623,430

• 2 · Savings and temporary cash investments

  beginning of year $31,275,859 · end of year $28,584,388

• 3 · Pledges and grants receivable

  beginning of year $65,998,902 · end of year $49,690,848

• 4 · Accounts receivable

  beginning of year $1,269,483 · end of year $2,233,037

• 5 · Loans and receivables from officers and key people

  beginning of year $146,098 · end of year $132,798

• 7 · Other notes and loans receivable

  beginning of year $3,188,061 · end of year $2,900,291

• 8 · Inventories for sale or use

  beginning of year $65,412 · end of year $96,260

• 9 · Prepaid expenses and deferred charges

  beginning of year $909,813 · end of year $821,125

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

  $495,474,916

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

  $186,768,833

• 10c · Land, buildings and equipment, net

  beginning of year $165,815,204 · end of year $308,706,083

• 11 · Investments: publicly traded securities

  beginning of year $140,765,924 · end of year $169,536,102

• 12 · Investments: other securities

  beginning of year $490,215,984 · end of year $495,144,028

• 15 · Other assets

  beginning of year $112,458,168 · end of year $174,919

• 17 · Accounts payable and accrued expenses

  beginning of year $27,019,440 · end of year $27,348,026

• 19 · Deferred revenue

  beginning of year $17,476,872 · end of year $15,119,360

• 20 · Tax-exempt bond liabilities

  beginning of year $42,280,520 · end of year $41,870,300

• 23 · Secured mortgages and notes payable

  beginning of year $948,668 · end of year $779,572

• 25 · Other liabilities

  beginning of year $33,405,156 · end of year $33,853,898

• 27 · Net assets without donor restrictions

  beginning of year $291,053,468 · end of year $365,219,971

• 28 · Net assets with donor restrictions

  beginning of year $646,690,076 · end of year $588,452,182

The filer's explanations (Part III)

PART I, LINE 1A

OCCUPANCY OF CAMPUS HOUSING IS REQUIRED FOR CERTAIN EMPLOYEES AS A CONDITION OF EMPLOYEMENT. SINCE THIS CONDITION IS FOR THE SCHOOL'S BENEFIT, IT IS TREATED AS A NON-TAXABLE BENEFIT TO THE EMPLOYEE, PER SECTION P.L. 115-97 OF THE IRS CODE. THE HEAD OF SCHOOL'S RESIDENCE ALSO SERVES AS A LOCATION TO HOST MANY SCHOOL EVENTS. THE VALUE OF CAMPUS HOUSING IS INCLUDED AS NOTAXABLE BENEFITS IN PART II, COLUMN (D) FOR THE FOLLOWING LISTED INDIVIDUALS: STEPHEN S. MURRAY, PETER DEVINE, MARY KATE BARNES, BENJAMIN C. HAMMOND, EMILIE KOSOFF, GREGORY BUCKLES, AND MARQUIS SCOTT. THE SCHOOL ALSO PAYS FOR CERTAIN TAX AND FINANCE SERVICES FOR AND PROVIDES AN AUTOMOBILE TO THE HEAD OF SCHOOL. THE VALUE OF THESE AMOUNTS IS INCLUDED AS OTHER REPORTABLE COMPENSATION ON PART II, COLUMN (B)(III).

PART I, LINES 4A-B

ERIKA WORTHY RECEIVED A PAYMENT AT SEPARATION FROM THE SCHOOL TO COMPLETE CONTRACTUAL OBLIGATIONS. THIS AMOUNT IS REPORTED AS OTHER REPORTABLE COMPENSATION ON PART II, COLUMN (B)(III). THE FOLLOWING AMOUNTS WERE ACCRUED FOR THE PARTICIPANTS IN THE 457(F) DEFERRED COMPENSATION PLAN FOR THE YEAR ENDED JUNE 30, 2023: STEPHEN S. MURRAY: $160,000 BENJAMIN C. HAMMOND: $50,000 MARY KATE BARNES: $50,000 GREGORY BUCKLES: $50,000 PETER DEVINE: $50,000 MARQUIS SCOTT: $50,000 EMILIE KOSOFF: $75,000 GREGORY CARTER: $20,000 SKYLAR BEAVER: $20,000

PART I, LINE 7

BONUSES ARE PAID TO INDIVIDUALS BASED ON PERFORMANCE METRICS AND ARE APPROVED BY THE EXECUTIVE COMPENSATION SUBCOMMITTEE OF THE BOARD AND REPORTED TO THE FULL BOARD. BONUS AMOUNTS ARE INCLUDED IN PART II, COLUMN B(11)