Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $9,700

• 1f · All other contributions, gifts and grants

  $5,174,676

• 1g · Noncash contributions included above

  $121,828

• 2a · Program service revenue: TUITION AND FEES

  total $21,648,463 · related or exempt $21,648,463

• 2b · Program service revenue: ROOM AND BOARD

  total $5,848,211 · related or exempt $5,848,211

• 2c · Program service revenue: AUXILIARY ENTERPRISES

  total $534,114 · related or exempt $534,114

• 2d · Program service revenue: OTHER SOURCES

  total $229,837 · related or exempt $229,837

• 3 · Investment income

  total $473,510 · excluded $473,510

• 6a · Gross rents

  real property $851,209

• 6b · Less rental expenses

  real property $436,124

• 6c · Rental income or loss

  real property $415,085

• 6d · Net rental income or loss

  total $415,085 · excluded $415,085

• 7a · Gross sales of assets other than inventory

  securities $15,374,735 · other assets $12,200

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

  securities $13,203,289 · other assets $13,752

• 7c · Gain or loss

  securities $2,171,446 · other assets -$1,552

• 7d · Net gain or loss

  total $2,169,894 · excluded $2,169,894

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $10,559,859 · program services $10,559,859

• 5 · Compensation of officers, directors and key employees

  total $826,095 · program services $133,109 · management and general $372,744 · fundraising $320,242

• 6 · Compensation of disqualified persons

  total $9,705,831 · program services $8,541,131 · management and general $970,583 · fundraising $194,117

• 8 · Pension plan contributions

  total $463,264 · program services $407,673 · management and general $46,326 · fundraising $9,265

• 9 · Other employee benefits

  total $1,238,269 · program services $1,089,677 · management and general $123,827 · fundraising $24,765

• 10 · Payroll taxes

  total $751,150 · program services $661,012 · management and general $75,115 · fundraising $15,023

• 11b · Fees: legal

  total $108,176 · management and general $108,176

• 11c · Fees: accounting

  total $61,750 · management and general $61,750

• 11f · Fees: investment management

  total $4,078 · management and general $4,078

• 11g · Fees: other

  total $2,513,748 · program services $2,027,612 · management and general $388,576 · fundraising $97,560

• 12 · Advertising and promotion

  total $5,350 · program services $4,815 · management and general $535

• 13 · Office expenses

  total $1,091,687 · program services $982,518 · management and general $109,169

• 14 · Information technology

  total $291,079 · management and general $291,079

• 16 · Occupancy

  total $921,721 · program services $829,549 · management and general $92,172

• 17 · Travel

  total $1,620,186 · program services $1,458,167 · management and general $162,019

• 19 · Conferences, conventions and meetings

  total $35,949 · program services $30,557 · management and general $3,595 · fundraising $1,797

• 20 · Interest

  total $590,089 · program services $531,080 · management and general $59,009

• 22 · Depreciation, depletion and amortization

  total $2,272,808 · program services $2,045,527 · management and general $227,281

• 23 · Insurance

  total $465,967 · program services $419,370 · management and general $46,597

• 24a · Other expenses: STUDENT PROGRAM EXPENSE

  total $797,129 · program services $797,129

• 24b · Other expenses: ALL OTHER EXPENSES

  total $441,997 · program services $397,797 · management and general $44,200

• 24c · Other expenses: BAD DEBT EXPENSE

  total $121,911 · program services $121,911

• 24d · Other expenses: MISCELLANEOUS

  total $70,160 · program services $59,637 · management and general $7,015 · fundraising $3,508

• 24e · All other expenses

  total $26,484 · program services $22,512 · management and general $2,648 · fundraising $1,324

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,678,806 · end of year $12,678,352

• 2 · Savings and temporary cash investments

  beginning of year $6,690 · end of year $50,109

• 3 · Pledges and grants receivable

  beginning of year $194,173 · end of year $2,270,031

• 4 · Accounts receivable

  beginning of year $728,138 · end of year $579,093

• 9 · Prepaid expenses and deferred charges

  beginning of year $636,575 · end of year $763,740

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

  $78,610,612

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

  $39,183,468

• 10c · Land, buildings and equipment, net

  beginning of year $40,175,802 · end of year $39,427,144

• 11 · Investments: publicly traded securities

  beginning of year $17,675,903 · end of year $9,187,691

• 15 · Other assets

  beginning of year $27,345,176 · end of year $25,733,838

• 17 · Accounts payable and accrued expenses

  beginning of year $2,778,057 · end of year $3,102,572

• 19 · Deferred revenue

  beginning of year $117,071 · end of year $69,223

• 20 · Tax-exempt bond liabilities

  beginning of year $19,234,146 · end of year $18,372,219

• 23 · Secured mortgages and notes payable

  beginning of year $2,007,483 · end of year $1,946,472

• 25 · Other liabilities

  beginning of year $237,375 · end of year $163,849

• 27 · Net assets without donor restrictions

  beginning of year $11,769,793 · end of year $10,699,411

• 28 · Net assets with donor restrictions

  beginning of year $57,297,338 · end of year $56,336,252

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR SPOUSE - PROVIDED TO THE PRESIDENT OF THE COLLEGE - NOT TREATED AS TAXABLE COMPENSATION RESIDENCE FOR PERSONAL USE - PROVIDED TO THE PRESIDENT OF THE COLLEGE - NOT TREATED AS TAXABLE COMPENSATION SOCIAL CLUB DUES - PROVIDED TO THE PRESIDENT OF THE COLLEGE - NOT TREATED AS TAXABLE COMPENSATION

PART I, LINE 4B

THE REVEREND J. CAMERON WEST, PRESIDENT OF THE COLLEGE, PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE PLAN IS STRUCTURED AS A RABBI TRUST WITH SUBSTANTIAL RISK OF FORFEITURE AND PAID $55,000 PER YEAR FOR 5 YEARS. NO PAYMENTS WERE MADE FOR THE FISCAL YEAR COVERED BY THIS RETURN.