Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $20,311

• 1e · Government grants (contributions)

  $1,132,932

• 1f · All other contributions, gifts and grants

  $12,104,805

• 1g · Noncash contributions included above

  $3,139,551

• 2a · Program service revenue: Tuition and Fees

  total $53,665,259 · related or exempt $53,665,259

• 2b · Program service revenue: Room and Board

  total $12,245,281 · related or exempt $12,245,281

• 2c · Program service revenue: Other Revenue

  total $1,316,410 · related or exempt $887,916 · unrelated business $428,494

• 2d · Program service revenue: Auxiliary Services

  total $284,867 · related or exempt $284,867

• 3 · Investment income

  total $2,242,837 · unrelated business $119,418 · excluded $2,123,419

• 5 · Royalties

  total $7,013 · excluded $7,013

• 6a · Gross rents

  real property $130,922

• 6b · Less rental expenses

  real property $22,339

• 6c · Rental income or loss

  real property $108,583

• 6d · Net rental income or loss

  total $108,583 · unrelated business $40,345 · excluded $68,238

• 7a · Gross sales of assets other than inventory

  securities $21,539,969

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

  securities $17,641,355

• 7c · Gain or loss

  securities $3,898,614

• 7d · Net gain or loss

  total $3,898,614 · excluded $3,898,614

• 8a · Fundraising events: gross income

  $21,381

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

  $20,311

• 8b · Fundraising events: direct expenses

  $15,276

• 8c · Net income from fundraising events

  total $6,105 · excluded $6,105

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $37,999,833 · program services $37,999,833

• 5 · Compensation of officers, directors and key employees

  total $1,416,256 · management and general $1,416,256

• 7 · Other salaries and wages

  total $20,752,839 · program services $17,907,481 · management and general $1,801,252 · fundraising $1,044,106

• 8 · Pension plan contributions

  total $1,025,567 · program services $884,954 · management and general $89,015 · fundraising $51,598

• 9 · Other employee benefits

  total $2,810,851 · program services $2,425,464 · management and general $243,969 · fundraising $141,418

• 10 · Payroll taxes

  total $1,516,962 · program services $1,308,976 · management and general $131,665 · fundraising $76,321

• 11b · Fees: legal

  total $171,230 · management and general $171,230

• 11c · Fees: accounting

  total $63,600 · management and general $63,600

• 11d · Fees: lobbying

  total $40,000 · fundraising $40,000

• 11f · Fees: investment management

  total $104,367 · management and general $104,367

• 11g · Fees: other

  total $1,239,298 · program services $1,058,557 · management and general $71,033 · fundraising $109,708

• 12 · Advertising and promotion

  total $1,522,835 · program services $1,467,233 · management and general $1,250 · fundraising $54,352

• 13 · Office expenses

  total $527,368 · program services $424,303 · management and general $3,957 · fundraising $99,108

• 14 · Information technology

  total $2,122,546 · program services $2,086,232 · management and general $8,677 · fundraising $27,637

• 16 · Occupancy

  total $1,618,367 · program services $1,615,716 · management and general $2,497 · fundraising $154

• 17 · Travel

  total $1,579,906 · program services $1,516,951 · management and general $22,560 · fundraising $40,395

• 19 · Conferences, conventions and meetings

  total $51,705 · program services $47,226 · management and general $2,939 · fundraising $1,540

• 20 · Interest

  total $1,629,776 · program services $1,629,776

• 22 · Depreciation, depletion and amortization

  total $4,280,712 · program services $4,280,712

• 23 · Insurance

  total $978,721 · program services $978,721

• 24a · Other expenses: Contract Facilities

  total $4,815,255 · program services $4,815,255

• 24b · Other expenses: Contract Food Service

  total $3,662,629 · program services $3,662,629

• 24c · Other expenses: Academic/Student Servic

  total $2,862,253 · program services $2,778,886 · management and general $10,370 · fundraising $72,997

• 24d · Other expenses: Miscellaneous Expense

  total $1,477,930 · program services $1,234,885 · management and general $207,774 · fundraising $35,271

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $453,568 · end of year $1,150,056

• 2 · Savings and temporary cash investments

  beginning of year $3,764,487 · end of year $2,038,677

• 3 · Pledges and grants receivable

  beginning of year $2,290,165 · end of year $2,128,091

• 4 · Accounts receivable

  beginning of year $1,561,011 · end of year $1,537,038

• 7 · Other notes and loans receivable

  beginning of year $1,050,491 · end of year $978,453

• 8 · Inventories for sale or use

  beginning of year $209,295 · end of year $208,422

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,175,951 · end of year $655,777

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

  $158,499,462

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

  $125,125,732

• 10c · Land, buildings and equipment, net

  beginning of year $35,327,653 · end of year $33,373,730

• 11 · Investments: publicly traded securities

  beginning of year $50,213,350 · end of year $43,782,325

• 14 · Intangible assets

  beginning of year $730,905 · end of year $972,103

• 15 · Other assets

  beginning of year $17,438,275 · end of year $18,466,347

• 17 · Accounts payable and accrued expenses

  beginning of year $4,690,941 · end of year $4,390,433

• 19 · Deferred revenue

  beginning of year $875,688 · end of year $776,032

• 20 · Tax-exempt bond liabilities

  beginning of year $35,721,858 · end of year $34,793,204

• 23 · Secured mortgages and notes payable

  beginning of year $118,223 · end of year $116,113

• 25 · Other liabilities

  beginning of year $6,079,494 · end of year $6,417,894

• 27 · Net assets without donor restrictions

  beginning of year -$7,056,994 · end of year -$9,476,222

• 28 · Net assets with donor restrictions

  beginning of year $73,785,941 · end of year $68,273,565

The filer's explanations (Part III)

Part I, Line 1a

The College provides a residence for the President to entertain and conduct College business along with personal use. Cleaning services are provided at this residence.

Part I, Line 4a

Peter Mizera, Past Chief Information Officer, received severance pay of $9,615 during 2023.