Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,956,604

• 1f · All other contributions, gifts and grants

  $1,434,800

• 2a · Program service revenue: TUITION AND FEES

  total $39,854,120 · related or exempt $39,854,120

• 2b · Program service revenue: ROOM AND BOARD

  total $7,931,074 · related or exempt $7,931,074

• 2c · Program service revenue: OTHER PROGRAM INCOME

  total $421,678 · related or exempt $421,678

• 2d · Program service revenue: SUMMER CAMP

  total $48,436 · related or exempt $48,436

• 2e · Program service revenue: CAMPUS BOOKSTORE

  total $39,507 · related or exempt $39,507

• 3 · Investment income

  total $1,243,407 · excluded $1,243,407

• 5 · Royalties

  total $1,582 · excluded $1,582

• 6a · Gross rents

  real property $7,719

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $7,719

• 6d · Net rental income or loss

  total $7,719 · excluded $7,719

• 7a · Gross sales of assets other than inventory

  securities $16,100,780 · other assets $29,758

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

  securities $17,092,485 · other assets $17,587

• 7c · Gain or loss

  securities -$991,705 · other assets $12,171

• 7d · Net gain or loss

  total -$979,534 · excluded -$979,534

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $15,439,068 · program services $15,439,068

• 5 · Compensation of officers, directors and key employees

  total $1,269,012 · program services $220,355 · management and general $778,897 · fundraising $269,760

• 7 · Other salaries and wages

  total $16,636,043 · program services $15,300,733 · management and general $782,323 · fundraising $552,987

• 8 · Pension plan contributions

  total $635,411 · program services $574,124 · management and general $29,419 · fundraising $31,868

• 9 · Other employee benefits

  total $3,413,298 · program services $3,001,801 · management and general $222,275 · fundraising $189,222

• 10 · Payroll taxes

  total $1,278,609 · program services $1,113,652 · management and general $104,207 · fundraising $60,750

• 11b · Fees: legal

  total $98,501 · management and general $98,501

• 11c · Fees: accounting

  total $198,826 · management and general $198,826

• 11f · Fees: investment management

  total $108,848 · management and general $108,848

• 11g · Fees: other

  total $3,819,505 · program services $3,295,466 · management and general $270,338 · fundraising $253,701

• 12 · Advertising and promotion

  total $373,865 · program services $180,553 · management and general $143,870 · fundraising $49,442

• 13 · Office expenses

  total $898,402 · program services $708,788 · management and general $116,187 · fundraising $73,427

• 14 · Information technology

  total $4,223,643 · program services $240,504 · management and general $3,981,598 · fundraising $1,541

• 16 · Occupancy

  total $2,980,459 · program services $1,581,729 · management and general $1,398,730

• 17 · Travel

  total $1,311,397 · program services $1,307,887 · management and general $1,212 · fundraising $2,298

• 19 · Conferences, conventions and meetings

  total $12,886 · program services $12,886

• 20 · Interest

  total $850,330 · program services $759,515 · management and general $88,009 · fundraising $2,806

• 22 · Depreciation, depletion and amortization

  total $3,942,267 · program services $3,521,233 · management and general $408,025 · fundraising $13,009

• 23 · Insurance

  total $550,985 · program services $67,296 · management and general $483,689

• 24a · Other expenses: OTHER OPERATIONAL EXPEN

  total $943,870 · management and general $943,870

• 24b · Other expenses: EDUCATION EXPENSES

  total $754,630 · program services $754,630

• 24c · Other expenses: WORK STUDY

  total $496,422 · program services $475,496 · management and general $10,717 · fundraising $10,209

• 24d · Other expenses: DUES AND SUBSCRIPTION

  total $298,442 · program services $132,595 · management and general $165,847

• 24e · All other expenses

  total $448,122 · program services $85,860 · management and general $353,727 · fundraising $8,535

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,025,535 · end of year $4,427,746

• 2 · Savings and temporary cash investments

  beginning of year $3,281,890 · end of year $3,100,168

• 3 · Pledges and grants receivable

  beginning of year $173,500 · end of year $80,200

• 4 · Accounts receivable

  beginning of year $1,031,166 · end of year $822,928

• 9 · Prepaid expenses and deferred charges

  beginning of year $241,963 · end of year $399,411

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

  $142,958,258

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

  $55,969,063

• 10c · Land, buildings and equipment, net

  beginning of year $89,451,326 · end of year $86,989,195

• 11 · Investments: publicly traded securities

  beginning of year $47,104,196 · end of year $47,144,160

• 14 · Intangible assets

  beginning of year $106,629 · end of year $53,314

• 15 · Other assets

  beginning of year $4,133,041 · end of year $4,910,705

• 17 · Accounts payable and accrued expenses

  beginning of year $3,331,232 · end of year $1,990,048

• 19 · Deferred revenue

  beginning of year $3,062,693 · end of year $2,806,609

• 20 · Tax-exempt bond liabilities

  beginning of year $23,534,971 · end of year $24,320,183

• 23 · Secured mortgages and notes payable

  beginning of year $4,904,676 · end of year $1,847,432

• 25 · Other liabilities

  beginning of year $343,598 · end of year $4,692,369

• 27 · Net assets without donor restrictions

  beginning of year $102,068,286 · end of year $96,988,926

• 28 · Net assets with donor restrictions

  beginning of year $14,303,790 · end of year $15,282,260

The filer's explanations (Part III)

PART I, LINE 1A

CURRHAEE GOLF CLUB MEMBERSHIP REQUIRES BOTH SOCIAL AND GOLF - ATHLETICS UTILIZES THE GOLF AND THE PRESIDENT UTILIZES THE SOCIAL PORTION. THE MEMBERSHIP IS USED FOR OPERATIONS, NOT FOR PERSONAL USE, SO IT IS NOT INCLUDED IN TAXABLE COMPENSATION.