Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $5,538,407

• 1f · All other contributions, gifts and grants

  $1,513,631

• 2a · Program service revenue: AUXILIARY ACTIVITIES

  total $1,002,418 · related or exempt $1,002,418

• 2b · Program service revenue: OTHER STUDENT ACTIVITIES

  total $865,069 · related or exempt $865,069

• 2c · Program service revenue: STUDENT TUITION & FEES

  total $11,223,958 · related or exempt $11,223,958

• 2d · Program service revenue: UNIVERSITY PREP COURSE

• 3 · Investment income

  total $643,247 · excluded $643,247

• 4 · Income from investment of tax-exempt bond proceeds

  total $0

• 5 · Royalties

  total $0

• 6d · Net rental income or loss

  total $0

• 7d · Net gain or loss

  total $0

• 8c · Net income from fundraising events

  total $0

• 9c · Net income from gaming

  total $0

• 10c · Net income from sales of inventory

  total $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $0

• 3 · Grants to foreign organizations and individuals

  total $3,128,239 · program services $3,128,239

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $999,618 · management and general $999,618

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $7,498,569 · program services $7,171,284 · management and general $129,534 · fundraising $197,751

• 8 · Pension plan contributions

  total $1,457,156 · program services $1,245,725 · management and general $202,165 · fundraising $9,266

• 9 · Other employee benefits

  total $1,846,608 · program services $1,684,832 · management and general $116,493 · fundraising $45,283

• 10 · Payroll taxes

  total $2,924,710 · program services $2,439,914 · management and general $447,318 · fundraising $37,478

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $0

• 11c · Fees: accounting

  total $22,768 · management and general $22,768

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $0

• 11g · Fees: other

  total $1,285,614 · program services $1,017,965 · management and general $143,928 · fundraising $123,721

• 12 · Advertising and promotion

  total $0

• 13 · Office expenses

  total $854,692 · program services $726,488 · fundraising $128,204

• 14 · Information technology

  total $320,205 · program services $320,205

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $418,349 · program services $418,349

• 17 · Travel

  total $128,301 · program services $128,301

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $93,862 · program services $93,862

• 20 · Interest

  total $0

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $72,862 · program services $72,862

• 23 · Insurance

  total $151,046 · management and general $151,046

• 24a · Other expenses: RESIDENCE HALLS

  total $623,995 · program services $623,995

• 24b · Other expenses: MAINTENANCE AND RENOVATIONS

  total $287,732 · program services $287,732

• 24c · Other expenses: SUMMER PROGRAMS

  total $202,514 · program services $202,514

• 24d · Other expenses: REAL ESTATE AND OTHER TAXES

  total $138,570 · program services $138,570

• 24e · All other expenses

  total $185,147 · program services $185,147

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $228,141 · end of year $226,095

• 2 · Savings and temporary cash investments

  beginning of year $5,785,278 · end of year $7,364,628

• 3 · Pledges and grants receivable

  end of year $0

• 4 · Accounts receivable

  beginning of year $6,484 · end of year $12,716

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  end of year $0

• 8 · Inventories for sale or use

  beginning of year $2,834 · end of year $1,998

• 9 · Prepaid expenses and deferred charges

  beginning of year $174,738 · end of year $232,533

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

  $9,380,508

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

  $4,604,712

• 10c · Land, buildings and equipment, net

  beginning of year $4,258,941 · end of year $4,775,796

• 11 · Investments: publicly traded securities

  end of year $0

• 12 · Investments: other securities

  end of year $0

• 13 · Investments: program-related

  end of year $0

• 14 · Intangible assets

  end of year $0

• 15 · Other assets

  end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $932,196 · end of year $1,336,304

• 19 · Deferred revenue

  beginning of year $8,614,020 · end of year $9,236,473

• 25 · Other liabilities

  beginning of year $514,911 · end of year $920,925

• 27 · Net assets without donor restrictions

  beginning of year $395,289 · end of year $1,120,064

The filer's explanations (Part III)

Part I, Line 1a: Relevant information in regards to selections on 1a.

TRAVEL FOR HEADMASTER'S SPOUSE IS PAID BY THE ORGANIZATION UNDER THE TERMS OF THE CONTRACTUAL AGREEMENT BETWEEN THE ORGANIZATION AND THE HEADMASTER. THE COST IS INCLUDED IN REPORTABLE COMPENSATION OF THE HEADMASTER. SALARIES OF US EMPLOYEES ARE GROSSED UP FOR LOCAL WITHHOLDING TAX PURPOSES. THE GROSS UP AMOUNT IS INCLUDED IN REPORTABLE COMPENSATION OF THE AFFECTED EMPLOYEES. THE HEADMASTER HAS A DISCRETIONARY SPENDING ACCOUNT OF $3,000 FOR WHICH DOCUMENTATION IS PROVIDED TO THE ORGANIZATION. IT IS USED TO MEET UNBUDGETED NEEDS OF THE SCHOOL, AND IS NOT FOR THE HEADMASTER'S PERSONAL USE. HOUSING IS PROVIDED FOR THE HEADMASTER AND KEY ADMINISTRATORS. THE VALUE OF THE HOUSING IS INCLUDED IN THE REPORTABLE COMPENSATION OF THESE INDIVIDUALS.