Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $3,950

• 1e · Government grants (contributions)

  $463,815

• 1f · All other contributions, gifts and grants

  $3,522,490

• 1g · Noncash contributions included above

  $225,754

• 2a · Program service revenue: TUITION AND FEES

  total $33,821,444 · related or exempt $33,821,444

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $8,487,771 · related or exempt $8,487,771

• 2c · Program service revenue: OTHER SOURCES

  total $1,215,450 · related or exempt $1,215,450

• 3 · Investment income

  total $473,126 · excluded $473,126

• 6a · Gross rents

  real property $111,452

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $111,452

• 6d · Net rental income or loss

  total $111,452 · unrelated business $111,452

• 7a · Gross sales of assets other than inventory

  securities $166,185

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

  securities $0 · other assets $6,783

• 7c · Gain or loss

  securities $166,185 · other assets -$6,783

• 7d · Net gain or loss

  total $159,402 · related or exempt -$6,783 · excluded $166,185

• 8a · Fundraising events: gross income

  $22,381

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

  $3,950

• 8b · Fundraising events: direct expenses

  $4,788

• 8c · Net income from fundraising events

  total $17,593 · excluded $17,593

• 11a · Other revenue: CENTER FOR THE PERFORMING ARTS -

  total $195,298 · unrelated business $195,298

• 11e · Other revenue, total

  $195,298

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $19,550,712 · program services $19,550,712

• 5 · Compensation of officers, directors and key employees

  total $909,785 · program services $272,912 · management and general $523,018 · fundraising $113,855

• 7 · Other salaries and wages

  total $11,085,714 · program services $9,802,532 · management and general $1,068,360 · fundraising $214,822

• 8 · Pension plan contributions

  total $449,672 · program services $415,077 · management and general $34,595

• 9 · Other employee benefits

  total $2,339,618 · program services $1,549,622 · management and general $789,996

• 10 · Payroll taxes

  total $919,035 · program services $802,483 · management and general $116,552

• 11b · Fees: legal

  total $15,299 · management and general $15,299

• 11c · Fees: accounting

  total $101,209 · management and general $101,209

• 11f · Fees: investment management

  total $43,150 · management and general $43,150

• 11g · Fees: other

  total $915,692 · program services $689,328 · management and general $221,864 · fundraising $4,500

• 12 · Advertising and promotion

  total $579,981 · program services $172,101 · management and general $407,880

• 13 · Office expenses

  total $166,386 · program services $148,430 · management and general $2,266 · fundraising $15,690

• 14 · Information technology

  total $672,849 · program services $57,440 · management and general $615,409

• 16 · Occupancy

  total $3,881,393 · program services $3,555,409 · management and general $325,984

• 17 · Travel

  total $519,334 · program services $492,506 · management and general $26,346 · fundraising $482

• 20 · Interest

  total $970,677 · program services $708,594 · management and general $262,083

• 22 · Depreciation, depletion and amortization

  total $2,057,898 · program services $1,699,824 · management and general $358,074

• 23 · Insurance

  total $471,611 · program services $231,092 · management and general $240,519

• 24a · Other expenses: OTHER EXPENSES

  total $2,718,982 · program services $2,060,300 · management and general $601,946 · fundraising $56,736

• 24b · Other expenses: FOOD SERVICES

  total $1,976,331 · program services $1,976,331

• 24c · Other expenses: BAD DEBT EXPENSE

  total $675,451 · management and general $675,451

• 24d · Other expenses: UNIVERSITY STORE

  total $609,187 · program services $609,187

• 24e · All other expenses

  total $685,648 · program services $347,551 · management and general $336,535 · fundraising $1,562

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,154,119 · end of year $263,286

• 3 · Pledges and grants receivable

  beginning of year $752,350 · end of year $887,903

• 4 · Accounts receivable

  beginning of year $1,625,033 · end of year $1,423,047

• 7 · Other notes and loans receivable

  beginning of year $63,312 · end of year $57,419

• 8 · Inventories for sale or use

  beginning of year $104,829 · end of year $104,829

• 9 · Prepaid expenses and deferred charges

  beginning of year $651,951 · end of year $926,649

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

  $74,776,205

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

  $33,007,737

• 10c · Land, buildings and equipment, net

  beginning of year $41,658,794 · end of year $41,768,468

• 11 · Investments: publicly traded securities

  beginning of year $10,986,187 · end of year $11,805,309

• 12 · Investments: other securities

  beginning of year $4,115,413 · end of year $4,810,202

• 15 · Other assets

  beginning of year $3,952,059 · end of year $3,880,587

• 17 · Accounts payable and accrued expenses

  beginning of year $2,969,260 · end of year $4,024,150

• 19 · Deferred revenue

  beginning of year $2,346,009 · end of year $2,235,312

• 22 · Loans and payables to officers and key people

  end of year $1,179,871

• 23 · Secured mortgages and notes payable

  beginning of year $11,329,919 · end of year $15,014,446

• 24 · Unsecured notes and loans payable

  beginning of year $3,335,000 · end of year $790,000

• 25 · Other liabilities

  beginning of year $3,486,537 · end of year $3,467,890

• 27 · Net assets without donor restrictions

  beginning of year $29,069,033 · end of year $25,110,723

• 28 · Net assets with donor restrictions

  beginning of year $13,528,289 · end of year $14,105,307

The filer's explanations (Part III)

PART I, LINE 1A

THE UNIVERSITY PROVIDES A RESIDENCE AND PAYS COMPENSATION TO THE PRESIDENT OF THE UNIVERSITY. THE RESIDENCE IS ON CAMPUS AND THE PRESIDENT IS REQUIRED TO LIVE AT THE RESIDENCE.