Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $21,185

• 1d · Related organizations

  $1,643,033

• 1e · Government grants (contributions)

  $4,100,982

• 1f · All other contributions, gifts and grants

  $4,327,413

• 1g · Noncash contributions included above

  $30,019

• 2a · Program service revenue: EDUCATION, TUITION, AND FEES

  total $32,842,640 · related or exempt $32,842,640

• 2b · Program service revenue: AUXILIARY SERVICES

  total $3,355,773 · related or exempt $3,355,773

• 2c · Program service revenue: INSTRUCTION ACTIVITIES

  total $702,748 · related or exempt $702,748

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $588,899 · related or exempt $588,899

• 2e · Program service revenue: JAKE

  total $150,694 · related or exempt $150,694

• 2f · All other program service revenue

  total $95,350 · related or exempt $95,350

• 3 · Investment income

  total $152,840 · excluded $152,840

• 7a · Gross sales of assets other than inventory

  securities $1,418,874

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

  securities $1,328,200 · other assets $244,966

• 7c · Gain or loss

  securities $90,674 · other assets -$244,966

• 7d · Net gain or loss

  total -$154,292 · excluded -$154,292

• 8a · Fundraising events: gross income

  $5,880

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

  $21,185

• 8b · Fundraising events: direct expenses

  $25,661

• 8c · Net income from fundraising events

  total -$19,781 · excluded -$19,781

• 10a · Gross sales of inventory

  $2,672,350

• 10b · Cost of goods sold

  $1,116,127

• 10c · Net income from sales of inventory

  total $1,556,223 · related or exempt $1,556,223

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $13,974,042 · program services $13,974,042

• 5 · Compensation of officers, directors and key employees

  total $1,132,249 · management and general $1,132,249

• 7 · Other salaries and wages

  total $13,445,404 · program services $13,136,994 · management and general $111,399 · fundraising $197,011

• 8 · Pension plan contributions

  total $147,337 · program services $135,250 · management and general $9,843 · fundraising $2,244

• 9 · Other employee benefits

  total $3,055,679 · program services $2,611,273 · management and general $401,088 · fundraising $43,318

• 10 · Payroll taxes

  total $993,055 · program services $829,715 · management and general $149,576 · fundraising $13,764

• 11b · Fees: legal

  total $10,560 · management and general $10,560

• 11c · Fees: accounting

  total $109,019 · management and general $109,019

• 11f · Fees: investment management

  total $203,415 · management and general $203,415

• 11g · Fees: other

  total $3,356,144 · program services $2,114,743 · management and general $1,226,701 · fundraising $14,700

• 12 · Advertising and promotion

  total $811,376 · program services $799,716 · management and general $8,812 · fundraising $2,848

• 13 · Office expenses

  total $362,103 · program services $317,726 · management and general $37,697 · fundraising $6,680

• 14 · Information technology

  total $669,887 · program services $448,282 · management and general $221,605

• 16 · Occupancy

  total $2,498,366 · program services $2,452,599 · management and general $45,767

• 17 · Travel

  total $830,020 · program services $796,926 · management and general $21,391 · fundraising $11,703

• 20 · Interest

  total $1,021,646 · program services $683,893 · management and general $337,753

• 22 · Depreciation, depletion and amortization

  total $4,077,387 · program services $3,961,132 · management and general $103,180 · fundraising $13,075

• 23 · Insurance

  total $315,320 · program services $8,161 · management and general $307,159

• 24a · Other expenses: MAINTENANCE & REPAIRS

  total $2,357,862 · program services $2,125,052 · management and general $223,079 · fundraising $9,731

• 24b · Other expenses: BAD DEBT EXPENSE

  total $647,780 · management and general $647,780

• 24c · Other expenses: FOREIGN CURRENCY TRANSL

  total $524,892 · management and general $524,892

• 24d · Other expenses: MEMBERSHIPS

  total $187,382 · program services $71,800 · management and general $110,692 · fundraising $4,890

• 24e · All other expenses

  total $505,250 · program services $418,154 · management and general $86,930 · fundraising $166

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $1,365,641 · end of year $452,571

• 3 · Pledges and grants receivable

  beginning of year $1,259,623 · end of year $5,209,118

• 4 · Accounts receivable

  beginning of year $2,274,871 · end of year $1,312,061

• 7 · Other notes and loans receivable

  beginning of year $76,953 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $165,817 · end of year $154,916

• 9 · Prepaid expenses and deferred charges

  beginning of year $287,619 · end of year $284,472

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

  $111,794,690

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

  $58,270,151

• 10c · Land, buildings and equipment, net

  beginning of year $57,098,833 · end of year $53,524,539

• 11 · Investments: publicly traded securities

  beginning of year $7,746,877 · end of year $6,943,029

• 15 · Other assets

  beginning of year $3,520,765 · end of year $1,777,035

• 17 · Accounts payable and accrued expenses

  beginning of year $4,713,707 · end of year $5,530,377

• 18 · Grants payable

  beginning of year $28,624 · end of year $50,600

• 19 · Deferred revenue

  beginning of year $2,328,390 · end of year $2,489,750

• 23 · Secured mortgages and notes payable

  beginning of year $35,700,874 · end of year $35,251,383

• 24 · Unsecured notes and loans payable

  beginning of year $2,500,000 · end of year $0

• 25 · Other liabilities

  beginning of year $3,803,753 · end of year $2,906,889

• 27 · Net assets without donor restrictions

  beginning of year $21,969,827 · end of year $18,677,055

• 28 · Net assets with donor restrictions

  beginning of year $2,751,824 · end of year $4,751,687

The filer's explanations (Part III)

PART I, LINE 1A

PRESIDENT IS REQUIRED TO LIVE ON CAMPUS AND RESIDES IN THE PRESIDENT'S HOUSE