Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,182,977

• 1f · All other contributions, gifts and grants

  $26,687,955

• 1g · Noncash contributions included above

  $173,423

• 2a · Program service revenue: TUITION & FEES

  total $26,710,410 · related or exempt $26,710,410

• 2b · Program service revenue: AUXILIARY ENTERPRISE

  total $5,909,815 · related or exempt $5,909,815

• 2c · Program service revenue: OTHER INCOME

  total $822,173 · related or exempt $822,173

• 2d · Program service revenue: STUDENT HOUSING FEES

  total $101,054 · related or exempt $101,054

• 3 · Investment income

  total $1,023,622 · excluded $1,023,622

• 5 · Royalties

  total $960,289 · excluded $960,289

• 7a · Gross sales of assets other than inventory

  securities $4,908,860 · other assets $22,815

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

  securities $4,783,719 · other assets $97,670

• 7c · Gain or loss

  securities $125,141 · other assets -$74,855

• 7d · Net gain or loss

  total $50,286 · related or exempt $50,286

• 10a · Gross sales of inventory

  $100,739

• 10b · Cost of goods sold

  $93,921

• 10c · Net income from sales of inventory

  total $6,818 · excluded $6,818

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $17,781,743 · program services $17,781,743

• 5 · Compensation of officers, directors and key employees

  total $482,215 · program services $48,221 · management and general $289,331 · fundraising $144,663

• 7 · Other salaries and wages

  total $9,781,779 · program services $8,133,085 · management and general $785,962 · fundraising $862,732

• 8 · Pension plan contributions

  total $831,695 · program services $654,607 · management and general $142,738 · fundraising $34,350

• 9 · Other employee benefits

  total $1,424,859 · program services $1,111,359 · management and general $266,411 · fundraising $47,089

• 10 · Payroll taxes

  total $711,593 · program services $571,471 · management and general $110,839 · fundraising $29,283

• 11a · Fees: management

  total $468,923 · program services $18,619 · management and general $254,008 · fundraising $196,296

• 11b · Fees: legal

  total $64,285 · program services $6,335 · management and general $57,950

• 11c · Fees: accounting

  total $82,374 · management and general $82,374

• 11f · Fees: investment management

  total $773,954 · management and general $773,954

• 11g · Fees: other

  total $706,134 · program services $489,509 · management and general $212,555 · fundraising $4,070

• 12 · Advertising and promotion

  total $271,882 · program services $98,049 · management and general $50,144 · fundraising $123,689

• 13 · Office expenses

  total $500,361 · program services $223,692 · management and general $178,849 · fundraising $97,820

• 14 · Information technology

  total $1,011,329 · program services $110,333 · management and general $899,252 · fundraising $1,744

• 16 · Occupancy

  total $1,316,588 · program services $1,180,687 · management and general $135,901

• 17 · Travel

  total $816,079 · program services $665,413 · management and general $18,133 · fundraising $132,533

• 19 · Conferences, conventions and meetings

  total $379,737 · program services $209,691 · management and general $119,380 · fundraising $50,666

• 20 · Interest

  total $391,113 · program services $208,085 · management and general $183,028

• 22 · Depreciation, depletion and amortization

  total $1,642,013 · program services $1,554,191 · management and general $87,822

• 23 · Insurance

  total $689,754 · program services $371,046 · management and general $318,708

• 24a · Other expenses: AUXILIARY

  total $2,203,054 · program services $2,203,054

• 24b · Other expenses: CO CURRICULAR

  total $585,377 · program services $584,691 · management and general $686

• 24c · Other expenses: GENERAL EDUCATION

  total $566,124 · program services $554,307 · management and general $4,023 · fundraising $7,794

• 24d · Other expenses: OTHER

  total $278,038 · program services $188,380 · management and general $73,774 · fundraising $15,884

• 24e · All other expenses

  total $141,898 · management and general $141,898

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,358,168 · end of year $561,944

• 2 · Savings and temporary cash investments

  beginning of year $5,365,147 · end of year $4,332,517

• 3 · Pledges and grants receivable

  beginning of year $672,879,939 · end of year $680,725,826

• 4 · Accounts receivable

  beginning of year $500,562 · end of year $546,170

• 7 · Other notes and loans receivable

  beginning of year $410,657 · end of year $222,449

• 8 · Inventories for sale or use

  beginning of year $2,432,549 · end of year $2,617,578

• 9 · Prepaid expenses and deferred charges

  beginning of year $21,149 · end of year $279,049

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

  $79,540,394

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

  $32,702,767

• 10c · Land, buildings and equipment, net

  beginning of year $31,341,288 · end of year $46,837,627

• 11 · Investments: publicly traded securities

  beginning of year $29,462,388 · end of year $31,658,044

• 12 · Investments: other securities

  beginning of year $18,972,767 · end of year $19,821,987

• 15 · Other assets

  beginning of year $795,559 · end of year $640,054

• 17 · Accounts payable and accrued expenses

  beginning of year $2,729,779 · end of year $2,956,653

• 19 · Deferred revenue

  beginning of year $131,999 · end of year $2,074,385

• 20 · Tax-exempt bond liabilities

  beginning of year $9,651,882

• 23 · Secured mortgages and notes payable

  beginning of year $1,151,221 · end of year $8,246,092

• 25 · Other liabilities

  beginning of year $4,657,307 · end of year $5,602,539

• 27 · Net assets without donor restrictions

  beginning of year $31,281,849 · end of year $48,260,322

• 28 · Net assets with donor restrictions

  beginning of year $713,936,136 · end of year $721,103,254

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 1A

UNDER IRC SECT 119(A)THE VALUE OF LODGING PROVIDED IN-KIND TO AN EMPLOYEE (THE PRESIDENT) FOR THE CONVENIENCE OF THE EMPLOYER IS EXCLUDABLE FROM GROSS INCOME IF THE EMPLOYEE IS REQUIRED TO ACCEPT SUCH LODGING ON THE BUSINESS PREMISES OF THE EMPLOYER AS A CONDITION OF EMPLOYMENT. THE COLLEGE REQUIRES AND FURNISHES A HOME FOR THE PRESIDENT'S USE AS A CONDITION OF HIS EMPLOYMENT. THE PRESIDENT IS TO USE THE HOME TO ENTERTAIN OR HOLD MEETINGS FOR BOARD MEMBERS, VARIOUS COLLEGE EMPLOYEES, POTENTIAL DONORS, AND STUDENTS. THIS IS A SCHOOL POLICY AND IS PART OF HIS EMPLOYMENT CONTRACT. THE PRESIDENT HAS USED THE RESIDENCE EXTENSIVELY FOR COLLEGE BUSINESS. HE HAS AN OFFICE IN THE HOUSE SOLELY DESIGNATED FOR COLLEGE WORK THAT HE USES EACH DAY AND ON WEEKENDS. THE PRESIDENT ENTERTAINS THE TRUSTEES WHICH DROP BY CONTINUOUSLY THROUGHOUT THE YEAR. THE PRESIDENT WILL HOLD CABINET MEETINGS AT THE HOUSE PERIODICALLY. MEETINGS WITH COMMUNITY OFFICIALS OCCUR FREQUENTLY AT THE HOUSE. THE PRESIDENT MEETS POTENTIAL AND LONG-TIME DONORS AT HIS HOME SEVERAL TIMES A MONTH TO SECURE CONTRIBUTIONS FOR THE COLLEGE. HE HOLDS A FRESHMAN SEMINAR CLASS AT THE HOME SEVERAL TIMES A MONTH. THE PRESIDENT HAS ALSO ALLOWED STUDENTS TO STAY AT THE HOUSE FOR SHORT STAYS WHEN NEEDED. HIS HOME IS ALWAYS OPEN TO STUDENTS TO DROP BY AND VISIT. THE PRESIDENT PERFORMS A MEANINGFUL PORTION OF HIS DUTIES AT HIS HOME. THE COLLEGE PAYS FOR THE PRESIDENT'S ANNUAL MEMBERSHIP TO THE MCPHERSON COUNTRY CLUB. THIS AMOUNT IS TREATED AS TAXABLE TO THE PRESIDENT AND IS INCLUDED IN WAGES.