Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,037,316

• 1e · Government grants (contributions)

  $6,360,558

• 1f · All other contributions, gifts and grants

  $9,842,325

• 1g · Noncash contributions included above

  $351,397

• 2a · Program service revenue: Tuition & fees

  total $192,840,038 · related or exempt $192,840,038

• 2b · Program service revenue: Auxiliary revenue

  total $15,389,830 · related or exempt $14,770,504 · unrelated business $619,326

• 2c · Program service revenue: Other program revenue

  total $9,008,264 · related or exempt $9,008,264

• 2d · Program service revenue: Inventory sales

  total $1,506,654 · related or exempt $1,506,654

• 2e · Program service revenue: Outreach ministries

  total $202,470 · related or exempt $202,470

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $3,094,141 · excluded $3,094,141

• 6a · Gross rents

  real property $194,732

• 6b · Less rental expenses

  real property $92,144

• 6c · Rental income or loss

  real property $102,588 · personal property $0

• 6d · Net rental income or loss

  total $102,588 · excluded $102,588

• 7a · Gross sales of assets other than inventory

  securities $31,003,275 · other assets $68,200,619

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

  securities $31,766,587 · other assets $4,964,302

• 7c · Gain or loss

  securities -$763,312 · other assets $63,236,317

• 7d · Net gain or loss

  total $62,473,005 · excluded $62,473,005

• 8a · Fundraising events: gross income

  $15,887

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

  $1,037,316

• 8b · Fundraising events: direct expenses

  $79,369

• 8c · Net income from fundraising events

  total -$63,482 · excluded -$63,482

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $61,270,261 · program services $61,270,261

• 3 · Grants to foreign organizations and individuals

  total $82,135 · program services $82,135

• 5 · Compensation of officers, directors and key employees

  total $3,591,327 · program services $693,821 · management and general $2,708,204 · fundraising $189,302

• 6 · Compensation of disqualified persons

  total $384,420 · program services $300,354 · management and general $84,066

• 7 · Other salaries and wages

  total $87,631,004 · program services $79,445,672 · management and general $6,374,876 · fundraising $1,810,456

• 8 · Pension plan contributions

  total $2,720,736 · management and general $2,720,736

• 9 · Other employee benefits

  total $13,962,667 · program services $1,403,218 · management and general $12,518,487 · fundraising $40,962

• 10 · Payroll taxes

  total $6,251,305 · program services $5,502,351 · management and general $619,524 · fundraising $129,430

• 11b · Fees: legal

  total $928,075 · management and general $928,075

• 11c · Fees: accounting

  total $60,524 · management and general $60,524

• 11e · Fees: professional fundraising services

  total $22,385 · fundraising $22,385

• 11f · Fees: investment management

  total $721,801 · management and general $721,801

• 11g · Fees: other

  total $5,558,345 · program services $3,348,269 · management and general $2,144,798 · fundraising $65,278

• 12 · Advertising and promotion

  total $5,746,983 · program services $5,566,107 · management and general $140,821 · fundraising $40,055

• 13 · Office expenses

  total $5,825,995 · program services $4,948,521 · management and general $735,560 · fundraising $141,914

• 14 · Information technology

  total $6,987,477 · program services $3,008,793 · management and general $3,729,773 · fundraising $248,911

• 16 · Occupancy

  total $14,582,557 · program services $10,922,439 · management and general $3,659,179 · fundraising $939

• 17 · Travel

  total $3,187,684 · program services $2,947,748 · management and general $165,393 · fundraising $74,543

• 19 · Conferences, conventions and meetings

  total $92,157 · program services $70,982 · management and general $19,240 · fundraising $1,935

• 20 · Interest

  total $6,967,360 · program services $6,873,934 · management and general $93,426

• 22 · Depreciation, depletion and amortization

  total $11,002,365 · program services $9,997,942 · management and general $1,004,423

• 23 · Insurance

  total $2,043,777 · management and general $2,043,777

• 24a · Other expenses: Cost of Goods Sold

  total $6,053,318 · program services $5,999,077 · management and general $54,241

• 24b · Other expenses: Electronic resources

  total $981,239 · program services $981,239

• 24c · Other expenses: Book purchases

  total $303,369 · program services $151,101 · management and general $1,167 · fundraising $151,101

• 24d · Other expenses: O/C Tuition costs

  total $73,785 · program services $73,785

• 24e · All other expenses

  total $7,167,888 · program services $6,496,371 · management and general $523,570 · fundraising $147,947

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $11,629,013 · end of year $11,429,380

• 2 · Savings and temporary cash investments

  beginning of year $521,025 · end of year $17,681,197

• 3 · Pledges and grants receivable

  beginning of year $2,030,467 · end of year $0

• 4 · Accounts receivable

  beginning of year $13,370,937 · end of year $10,890,138

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 8 · Inventories for sale or use

  beginning of year $832,050 · end of year $905,766

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,295,624 · end of year $2,083,068

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

  $385,166,620

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

  $214,444,903

• 10c · Land, buildings and equipment, net

  beginning of year $182,129,373 · end of year $170,721,717

• 11 · Investments: publicly traded securities

  beginning of year $91,050,777 · end of year $157,903,684

• 12 · Investments: other securities

  beginning of year $16,958,427 · end of year $3,989,493

• 13 · Investments: program-related

  beginning of year $9,027,592 · end of year $9,298,980

• 15 · Other assets

  beginning of year $35,820,284 · end of year $32,447,542

• 17 · Accounts payable and accrued expenses

  beginning of year $9,570,048 · end of year $9,984,134

• 18 · Grants payable

  beginning of year $2,367,507 · end of year $5,641,593

• 19 · Deferred revenue

  beginning of year $5,732,894 · end of year $8,197,115

• 20 · Tax-exempt bond liabilities

  beginning of year $111,301,043 · end of year $126,940,966

• 22 · Loans and payables to officers and key people

  end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $1,175,010 · end of year $1,175,010

• 25 · Other liabilities

  beginning of year $59,339,678 · end of year $45,333,976

• 27 · Net assets without donor restrictions

  beginning of year $90,406,661 · end of year $138,945,050

• 28 · Net assets with donor restrictions

  beginning of year $84,772,728 · end of year $81,133,121

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

The governing board has specifically authorized this and recognizes it as necessary and for bona fide business purpose. Those who received this benefit include the President, Executive Vice President, and any others approved by the President, Executive Vice President, and Provost.

Schedule J, Part I, Line 1a Travel for companions

Travel for companions: Spousal travel approved for major donor events/visits which are bona fide business travel authorized by board chair for the President, and by President for other highly compensated employees. Those who received this benefit include the President's spouse, Executive Vice President's spouse, and any others as approved by the President, Executive Vice President, and Provost.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

A housing allowance is provided to Adam Morris, President. This amount is included in his taxable income.

Schedule J, Part I, Line 4a Severance or change-of-control payment

Paola Martinez, VP Human Resources received severance in the amount of $148,651. Shino Simons received severance in the amount of $99,177. Rukshan Fernando received severance in the amount of $226,112.

Disregarded entities

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

• Azusa Pacific Holdings LLC

  Real estate · AZ · income $0 · assets $400,000

  Directly controlled by Azusa Pacific University

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• Azusa Ensenada S de RL de CV CO Jose Luis Perez Rocha

  Excluded · Real Estate · MX · share of income $0 · share of assets $0

  Directly controlled by APU

• Azusa Pacific Mexicali S de RL de CV co Jose Luis Perez Rocha

  Excluded · Real Estate · MX · share of income $0 · share of assets $0

  Directly controlled by NA

Related corporations and trusts

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

• Charitable remainder trusts (46)

  Hold assets in trust, with remainder to the University. · CA · controlled entity

  Directly controlled by Azusa Pacific University