Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $2,905,124

• 1f · All other contributions, gifts and grants

  $9,612,523

• 1g · Noncash contributions included above

  $307,149

• 2a · Program service revenue: TUITION & FEES

  total $100,080,230 · related or exempt $100,080,230

• 2b · Program service revenue: RESIDENCE & MEALS

  total $8,380,968 · related or exempt $8,380,968

• 2c · Program service revenue: OTHER PROGRAMS AND FEE

  total $2,170,676 · related or exempt $2,170,676

• 3 · Investment income

  total $157,748 · excluded $157,748

• 7a · Gross sales of assets other than inventory

  other assets $65

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

  other assets $182,373

• 7c · Gain or loss

  other assets -$182,308

• 7d · Net gain or loss

  total -$182,308 · excluded -$182,308

• 10a · Gross sales of inventory

  $196,917

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $196,917 · related or exempt $196,917

• 11a · Other revenue: REIMBURSEMENT PAIER AC

  total $1,452,060 · related or exempt $1,452,060

• 11b · Other revenue: INSURANCE PROCEEDS

  total $1,151,350 · excluded $1,151,350

• 11c · Other revenue: MANAGEMENT FEE

  total $150,000 · related or exempt $150,000

• 11d · All other revenue

  total $1,119,146 · excluded $1,119,146

• 11e · Other revenue, total

  $3,872,556

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $29,723,470 · program services $29,723,470

• 5 · Compensation of officers, directors and key employees

  total $1,411,280 · program services $1,049,133 · management and general $362,147

• 7 · Other salaries and wages

  total $33,572,606 · program services $27,634,581 · management and general $5,938,025

• 8 · Pension plan contributions

  total $463,512 · program services $17,015 · management and general $446,497

• 9 · Other employee benefits

  total $3,523,098 · program services $129,327 · management and general $3,393,771

• 10 · Payroll taxes

  total $2,405,069 · program services $7,256 · management and general $2,397,813

• 11a · Fees: management

  total $1,495,035 · management and general $1,495,035

• 11c · Fees: accounting

  total $508,715 · management and general $508,715

• 11g · Fees: other

  total $2,459,294 · program services $2,399,030 · management and general $60,264

• 12 · Advertising and promotion

  total $1,708,177 · program services $1,699,261 · management and general $8,916

• 13 · Office expenses

  total $5,849,425 · program services $4,437,321 · management and general $1,412,104

• 16 · Occupancy

  total $3,387,245 · program services $2,277,891 · management and general $1,109,354

• 17 · Travel

  total $752,286 · program services $695,868 · management and general $56,418

• 20 · Interest

  total $1,570,165 · management and general $1,570,165

• 22 · Depreciation, depletion and amortization

  total $876,079 · program services $657,059 · management and general $219,020

• 23 · Insurance

  total $1,556,356 · program services $79,306 · management and general $1,477,050

• 24a · Other expenses: REPAIR AND MAINTENANCE

  total $9,610,453 · program services $7,603,662 · management and general $2,006,791

• 24b · Other expenses: STUDENT EXPENSES

  total $6,806,954 · program services $6,600,870 · management and general $206,084

• 24c · Other expenses: SECURITY

  total $1,891,858 · program services $303,734 · management and general $1,588,124

• 24d · Other expenses: BAD DEBTS

  total $1,287,798 · management and general $1,287,798

• 24e · All other expenses

  total $2,709,039 · program services $1,251,756 · management and general $1,457,283

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,378,839 · end of year $13,071,993

• 2 · Savings and temporary cash investments

  beginning of year $6,928,692 · end of year $17,197,448

• 3 · Pledges and grants receivable

  beginning of year $395,774 · end of year $308,755

• 4 · Accounts receivable

  beginning of year $12,114,470 · end of year $9,835,970

• 9 · Prepaid expenses and deferred charges

  beginning of year $877,540 · end of year $576,861

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

  $19,426,615

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

  $1,374,416

• 10c · Land, buildings and equipment, net

  beginning of year $13,536,893 · end of year $18,052,199

• 12 · Investments: other securities

  end of year $1,555,613

• 14 · Intangible assets

  beginning of year $1,629,954 · end of year $1,367,483

• 15 · Other assets

  beginning of year $0 · end of year $3,446

• 17 · Accounts payable and accrued expenses

  beginning of year $4,588,711 · end of year $8,300,284

• 19 · Deferred revenue

  beginning of year $7,058,184 · end of year $9,834,163

• 23 · Secured mortgages and notes payable

  beginning of year $7,501,574 · end of year $7,500,000

• 27 · Net assets without donor restrictions

  beginning of year $21,746,693 · end of year $28,859,321

• 28 · Net assets with donor restrictions

  beginning of year $967,000 · end of year $7,476,000

The filer's explanations (Part III)

PART I, LINE 7

THE EXECUTIVE TEAM RECEIVED A BOARD APPROVED CALENDAR YEAR BONUS WHICH WAS REPORTED IN THEIR 2022 W2S.

Related corporations and trusts

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

• RIVER CAMPUS INC

  C · REAL ESTATE HOLDINGS · CT