Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $63,000

• 1e · Government grants (contributions)

  $11,280

• 1f · All other contributions, gifts and grants

  $3,219,041

• 2a · Program service revenue: TUITION AND FEES

  total $66,556,974 · related or exempt $66,556,974

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $5,639,124 · related or exempt $5,639,124

• 3 · Investment income

  total $1,027,255 · excluded $1,027,255

• 7a · Gross sales of assets other than inventory

  securities $14,468,101

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

  securities $14,503,320

• 7c · Gain or loss

  securities -$35,219

• 7d · Net gain or loss

  total -$35,219 · excluded -$35,219

• 8a · Fundraising events: gross income

  $137,000

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

  $63,000

• 8b · Fundraising events: direct expenses

  $68,448

• 8c · Net income from fundraising events

  total $68,552 · excluded $68,552

• 11a · Other revenue: OTHER INCOME

  total $802,807 · excluded $802,807

• 11e · Other revenue, total

  $802,807

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $31,337,943 · program services $31,337,943

• 3 · Grants to foreign organizations and individuals

  total $11,500 · program services $11,500

• 5 · Compensation of officers, directors and key employees

  total $3,095,000 · program services $1,215,354 · management and general $1,303,407 · fundraising $576,239

• 7 · Other salaries and wages

  total $26,422,998 · program services $23,554,345 · management and general $2,868,653

• 8 · Pension plan contributions

  total $1,355,405 · program services $1,030,910 · management and general $324,495

• 9 · Other employee benefits

  total $4,041,283 · program services $3,097,012 · management and general $944,271

• 10 · Payroll taxes

  total $2,082,667 · program services $1,283,088 · management and general $498,608 · fundraising $300,971

• 11b · Fees: legal

  total $280,239 · management and general $280,239

• 11c · Fees: accounting

  total $191,373 · management and general $191,373

• 11f · Fees: investment management

  total $23,772 · management and general $23,772

• 11g · Fees: other

  total $1,484,643 · program services $651,080 · management and general $681,877 · fundraising $151,686

• 12 · Advertising and promotion

  total $316,851 · program services $92,016 · management and general $221,335 · fundraising $3,500

• 13 · Office expenses

  total $3,421,714 · program services $3,103,853 · management and general $279,065 · fundraising $38,796

• 14 · Information technology

  total $2,555,634 · program services $1,302,473 · management and general $1,242,906 · fundraising $10,255

• 16 · Occupancy

  total $2,073,069 · program services $1,969,066 · management and general $84,166 · fundraising $19,837

• 17 · Travel

  total $733,946 · program services $593,503 · management and general $117,369 · fundraising $23,074

• 19 · Conferences, conventions and meetings

  total $113,589 · program services $94,533 · management and general $17,603 · fundraising $1,453

• 20 · Interest

  total $1,097,778 · management and general $1,097,778

• 22 · Depreciation, depletion and amortization

  total $2,783,028 · program services $2,643,877 · management and general $111,321 · fundraising $27,830

• 23 · Insurance

  total $425,187 · management and general $425,187

• 24a · Other expenses: STUDENT MEDICAL INSURAN

  total $1,445,530 · program services $1,445,530

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $749,071 · program services $708,818 · management and general $35,159 · fundraising $5,094

• 24c · Other expenses: EQUIP COST UNDER $1,000

  total $169,353 · program services $127,869 · management and general $39,773 · fundraising $1,711

• 24d · Other expenses: DUES & SUBSCRIPTIONS

  total $150,303 · program services $70,786 · management and general $79,386 · fundraising $131

• 24e · All other expenses

  total -$376,692 · program services $98,469 · management and general -$475,534 · fundraising $373

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,939,469 · end of year $2,308,950

• 2 · Savings and temporary cash investments

  beginning of year $2,619,522 · end of year $11,950,576

• 3 · Pledges and grants receivable

  beginning of year $131,110 · end of year $453,280

• 4 · Accounts receivable

  beginning of year $1,185,236 · end of year $2,299,092

• 8 · Inventories for sale or use

  beginning of year $23,244 · end of year $31,661

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,145,873 · end of year $1,292,121

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

  $99,574,344

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

  $36,755,996

• 10c · Land, buildings and equipment, net

  beginning of year $64,552,358 · end of year $62,818,348

• 11 · Investments: publicly traded securities

  beginning of year $43,376,963 · end of year $35,782,880

• 12 · Investments: other securities

  beginning of year $807,104 · end of year $609,260

• 13 · Investments: program-related

  beginning of year $39,401 · end of year $64,290

• 15 · Other assets

  beginning of year $0 · end of year $581,083

• 17 · Accounts payable and accrued expenses

  beginning of year $7,199,462 · end of year $7,348,424

• 19 · Deferred revenue

  beginning of year $7,201,696 · end of year $8,536,897

• 20 · Tax-exempt bond liabilities

  beginning of year $29,415,123 · end of year $28,377,675

• 25 · Other liabilities

  beginning of year $954,500 · end of year $748,198

• 27 · Net assets without donor restrictions

  beginning of year $35,356,936 · end of year $35,468,861

• 28 · Net assets with donor restrictions

  beginning of year $43,692,563 · end of year $37,711,486

The filer's explanations (Part III)

PART I, LINE 8

CHARLES JOSEPH HIRSCHHORN NEGOTIATED HIS CONTRACT BEFORE BECOMING A DISQUALIFIED PERSON, AND AS SUCH, QUALIFIES FOR THE INITIAL CONTRACT EXCEPTION.