Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $19,822,513

• 1f · All other contributions, gifts and grants

  $3,487,697

• 1g · Noncash contributions included above

  $14,951

• 2a · Program service revenue: TUITION & FEES

  total $141,165,302 · related or exempt $141,165,302

• 2b · Program service revenue: HOUSING & FOOD SERVICE

  total $23,229,033 · related or exempt $23,229,033

• 2c · Program service revenue: FIT AVIATION, LLC

  total $11,594,872 · unrelated business $11,594,872

• 2d · Program service revenue: OTHER

  total $5,521,208 · related or exempt $5,521,208

• 3 · Investment income

  total $4,346,779 · excluded $4,346,779

• 6a · Gross rents

  real property $1,591,009

• 6c · Rental income or loss

  real property $1,591,009

• 6d · Net rental income or loss

  total $1,591,009 · excluded $1,591,009

• 7a · Gross sales of assets other than inventory

  securities $93,909,773 · other assets $196,892

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

  securities $93,620,181 · other assets $41,912

• 7c · Gain or loss

  securities $289,592 · other assets $154,980

• 7d · Net gain or loss

  total $444,572 · related or exempt $154,980 · excluded $289,592

• 8a · Fundraising events: gross income

  $206,377

• 8b · Fundraising events: direct expenses

  $53,545

• 8c · Net income from fundraising events

  total $152,832 · excluded $152,832

• 9a · Gaming: gross income

  $130,800

• 9b · Gaming: direct expenses

  $68,601

• 9c · Net income from gaming

  total $62,199 · excluded $62,199

• 11a · Other revenue: OTHER INCOME

  total $227,099 · related or exempt $227,099

• 11b · Other revenue: INSURANCE RECOVERY

  total $36,929 · related or exempt $36,929

• 11c · Other revenue: INSURANCE RECOVERY

  total $7,570 · unrelated business $7,570

• 11e · Other revenue, total

  $271,598

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $2,299,096 · program services $367,856 · management and general $1,686,858 · fundraising $244,382

• 7 · Other salaries and wages

  total $80,243,366 · program services $70,086,416 · management and general $8,648,137 · fundraising $1,508,813

• 8 · Pension plan contributions

  total $2,810,360 · program services $2,445,013 · management and general $309,140 · fundraising $56,207

• 9 · Other employee benefits

  total $12,538,527 · program services $11,000,114 · management and general $1,301,734 · fundraising $236,679

• 10 · Payroll taxes

  total $6,269,264 · program services $5,478,731 · management and general $668,913 · fundraising $121,620

• 11a · Fees: management

  total $21,448,501 · program services $17,144,738 · management and general $4,208,062 · fundraising $95,701

• 11b · Fees: legal

  total $477,080 · program services $58,256 · management and general $418,824

• 11c · Fees: accounting

  total $221,701 · management and general $221,701

• 12 · Advertising and promotion

  total $2,523,591 · program services $1,245,495 · management and general $902,150 · fundraising $375,946

• 13 · Office expenses

  total $7,257,632 · program services $5,704,507 · management and general $1,332,015 · fundraising $221,110

• 14 · Information technology

  total $5,648,210 · program services $1,689,546 · management and general $3,882,980 · fundraising $75,684

• 15 · Royalties

  total $6,667 · management and general $6,667

• 16 · Occupancy

  total $16,317,270 · program services $6,314,238 · management and general $9,871,691 · fundraising $131,341

• 17 · Travel

  total $2,412,195 · program services $2,177,593 · management and general $199,734 · fundraising $34,868

• 19 · Conferences, conventions and meetings

  total $643,967 · program services $536,528 · management and general $103,910 · fundraising $3,529

• 20 · Interest

  total $3,867,569 · management and general $3,867,569

• 22 · Depreciation, depletion and amortization

  total $11,219,553 · management and general $11,219,553

• 23 · Insurance

  total $5,560,433 · program services $108,131 · management and general $5,442,302 · fundraising $10,000

• 24a · Other expenses: SCHOLARSHIP

  total $4,435,452 · program services $4,435,452

• 24b · Other expenses: DINING SERVICES

  total $3,882,048 · program services $3,882,048

• 24c · Other expenses: COGS

  total $2,647,814 · management and general $2,647,814

• 24d · Other expenses: LIBRARY RESOURCES

  total $1,883,137 · program services $1,865,199 · management and general $17,938

• 24e · All other expenses

  total $895,237 · program services $152,005 · management and general $743,232

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $18,778,635 · end of year $36,171,599

• 3 · Pledges and grants receivable

  beginning of year $1,641,002 · end of year $1,527,497

• 4 · Accounts receivable

  beginning of year $6,160,405 · end of year $13,470,758

• 7 · Other notes and loans receivable

  beginning of year $1,940,919 · end of year $1,488,297

• 8 · Inventories for sale or use

  beginning of year $1,522,013 · end of year $1,660,567

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,458,663 · end of year $4,960,037

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

  $340,557,497

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

  $120,404,345

• 10c · Land, buildings and equipment, net

  beginning of year $210,834,953 · end of year $220,153,152

• 12 · Investments: other securities

  beginning of year $120,589,558 · end of year $100,805,797

• 14 · Intangible assets

  beginning of year $71,440 · end of year $225,682

• 15 · Other assets

  end of year $12,051,633

• 17 · Accounts payable and accrued expenses

  beginning of year $18,341,194 · end of year $13,005,658

• 19 · Deferred revenue

  beginning of year $5,901,717 · end of year $5,426,973

• 20 · Tax-exempt bond liabilities

  beginning of year $103,461,247 · end of year $99,954,093

• 23 · Secured mortgages and notes payable

  beginning of year $1,398,666 · end of year $1,282,341

• 25 · Other liabilities

  beginning of year $16,462,612 · end of year $29,259,710

• 27 · Net assets without donor restrictions

  beginning of year $132,341,340 · end of year $148,841,207

• 28 · Net assets with donor restrictions

  beginning of year $88,090,812 · end of year $94,745,037

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 1A

-FIRST CLASS TRAVEL MAY OCCUR BASED UPON THE LENGTH OF TRAVEL TIME. -THE PRESIDENT'S SPOUSE MAY, ON OCCASSION, ACCOMPANY THE PRESIDENT ON BUSINESS TRIPS ON BEHALF OF THE UNIVERSITY.

Disregarded entities

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

• FIT AVIATION LLC FIT AVIATION LLC

  FLIGHT INS · FL · income $950,840 · assets -$352,580

  Directly controlled by NA