Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $3,224,008

• 1g · Noncash contributions included above

  $5,043

• 2a · Program service revenue: Gross Tuition and Fees

  total $25,779,595 · related or exempt $25,779,595

• 2b · Program service revenue: Fed Grants & Contracts

  total $2,444,495 · related or exempt $2,444,495

• 2c · Program service revenue: Private Contracts

  total $1,239,053 · related or exempt $1,239,053

• 2d · Program service revenue: Team Masters Project

  total $827,952 · related or exempt $827,952

• 2e · Program service revenue: Payments from Affiliate

  total $573,872 · related or exempt $573,872

• 2f · All other program service revenue

  total $347,774 · related or exempt $347,774

• 3 · Investment income

  total $2,152,953 · excluded $2,152,953

• 6a · Gross rents

  real property $1,282,235

• 6b · Less rental expenses

  real property $866,393

• 6c · Rental income or loss

  real property $415,842

• 6d · Net rental income or loss

  total $415,842 · unrelated business $105,587 · excluded $310,255

• 7a · Gross sales of assets other than inventory

  securities $55,682,812

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

  securities $52,471,727

• 7c · Gain or loss

  securities $3,211,085

• 7d · Net gain or loss

  total $3,211,085 · excluded $3,211,085

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $4,147,228 · program services $4,147,228

• 5 · Compensation of officers, directors and key employees

  total $2,524,820 · program services $722,436 · management and general $1,302,930 · fundraising $499,454

• 6 · Compensation of disqualified persons

  total $412,950 · program services $412,950

• 7 · Other salaries and wages

  total $13,768,023 · program services $11,976,040 · management and general $1,430,888 · fundraising $361,095

• 8 · Pension plan contributions

  total $1,204,443 · program services $1,021,967 · management and general $139,558 · fundraising $42,918

• 9 · Other employee benefits

  total $1,648,561 · program services $1,135,655 · management and general $458,705 · fundraising $54,201

• 10 · Payroll taxes

  total $1,124,327 · program services $913,139 · management and general $170,849 · fundraising $40,339

• 11a · Fees: management

  total $6,734 · program services $1,406 · management and general $5,328

• 11b · Fees: legal

  total $752,639 · program services $131,143 · management and general $621,496

• 11c · Fees: accounting

  total $215,560 · management and general $215,560

• 11g · Fees: other

  total $1,945,359 · program services $1,230,826 · management and general $463,272 · fundraising $251,261

• 12 · Advertising and promotion

  total $806,443 · program services $512,671 · management and general $160,868 · fundraising $132,904

• 13 · Office expenses

  total $1,546,375 · program services $863,017 · management and general $665,777 · fundraising $17,581

• 14 · Information technology

  total $1,180,264 · program services $290,905 · management and general $842,221 · fundraising $47,138

• 16 · Occupancy

  total $1,277,260 · program services $261,119 · management and general $1,016,141

• 17 · Travel

  total $326,129 · program services $272,603 · management and general $30,662 · fundraising $22,864

• 19 · Conferences, conventions and meetings

  total $411,433 · program services $299,419 · management and general $55,373 · fundraising $56,641

• 20 · Interest

  total $1,021,319 · management and general $1,021,319

• 22 · Depreciation, depletion and amortization

  total $1,251,704 · program services $280,862 · management and general $970,842

• 23 · Insurance

  total $91,774 · management and general $91,774

• 24a · Other expenses: Payments to affiliates

  total $2,577,263 · program services $72,280 · management and general $2,501,420 · fundraising $3,563

• 24b · Other expenses: Student Stipens

  total $289,373 · program services $289,373

• 24c · Other expenses: Building Repair

  total $154,205 · program services $154,205

• 24e · All other expenses

  total $549,869 · program services $533,764 · management and general $8,357 · fundraising $7,748

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,924,824 · end of year $4,784,842

• 2 · Savings and temporary cash investments

  beginning of year $452,666 · end of year $2,486,254

• 3 · Pledges and grants receivable

  beginning of year $9,759,035 · end of year $3,841,419

• 4 · Accounts receivable

  beginning of year $2,419,769 · end of year $2,146,838

• 7 · Other notes and loans receivable

  beginning of year $0 · end of year $2,720,889

• 9 · Prepaid expenses and deferred charges

  beginning of year $332,666 · end of year $294,338

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

  $65,323,802

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

  $16,750,647

• 10c · Land, buildings and equipment, net

  beginning of year $57,619,858 · end of year $48,573,155

• 11 · Investments: publicly traded securities

  beginning of year $51,131,468 · end of year $55,517,193

• 15 · Other assets

  beginning of year $5,803,858 · end of year $18,490,324

• 17 · Accounts payable and accrued expenses

  beginning of year $2,812,841 · end of year $2,704,496

• 19 · Deferred revenue

  beginning of year $3,178,085 · end of year $2,334,751

• 23 · Secured mortgages and notes payable

  beginning of year $37,593,944 · end of year $37,949,230

• 25 · Other liabilities

  beginning of year $5,847,902 · end of year $8,772,994

• 27 · Net assets without donor restrictions

  beginning of year $36,419,650 · end of year $27,423,086

• 28 · Net assets with donor restrictions

  beginning of year $45,591,722 · end of year $59,670,695

The filer's explanations (Part III)

Part I, Line 1b

A residence or housing allowance is provided for the President. The housing allowance is treated as taxable compensation.

Part I, Line 4a

A taxable discretionary severance payment of $18,204.95 was given to the following individual upon termination during the year: Dean of Admissions and Financial Aid.