Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $3,913,006

• 1f · All other contributions, gifts and grants

  $2,127,112

• 1g · Noncash contributions included above

  $244,494

• 2a · Program service revenue: TUITION AND FEES

  total $25,856,240 · related or exempt $25,856,240

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $3,875,606 · related or exempt $3,875,606

• 2c · Program service revenue: INTEREST ON LOANS RECEIVABLE

  total $7,661 · related or exempt $7,661

• 3 · Investment income

  total $546,238 · excluded $546,238

• 6a · Gross rents

  real property $38,100

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $38,100

• 6d · Net rental income or loss

  total $38,100 · related or exempt $38,100

• 7a · Gross sales of assets other than inventory

  securities $2,087 · other assets $35,922

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

  securities $0 · other assets $26,922

• 7c · Gain or loss

  securities $2,087 · other assets $9,000

• 7d · Net gain or loss

  total $11,087 · related or exempt $9,000 · excluded $2,087

• 11a · Other revenue: OTHER REVENUE

  total $1,129,721 · related or exempt $1,129,721

• 11e · Other revenue, total

  $1,129,721

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $5,733,022 · program services $5,733,022

• 5 · Compensation of officers, directors and key employees

  total $1,247,889 · management and general $1,087,473 · fundraising $160,416

• 7 · Other salaries and wages

  total $12,260,560 · program services $9,290,663 · management and general $2,484,329 · fundraising $485,568

• 8 · Pension plan contributions

  total $909,539 · program services $625,016 · management and general $259,888 · fundraising $24,635

• 9 · Other employee benefits

  total $1,743,383 · program services $1,345,526 · management and general $243,314 · fundraising $154,543

• 10 · Payroll taxes

  total $888,657 · program services $664,541 · management and general $182,583 · fundraising $41,533

• 11b · Fees: legal

  total $68,030 · management and general $68,030

• 11c · Fees: accounting

  total $46,157 · management and general $46,157

• 11g · Fees: other

  total $1,382,745 · program services $472,164 · management and general $909,143 · fundraising $1,438

• 12 · Advertising and promotion

  total $476,678 · management and general $215,281 · fundraising $261,397

• 13 · Office expenses

  total $145,052 · program services $56,859 · management and general $86,209 · fundraising $1,984

• 14 · Information technology

  total $1,560,806 · program services $1,311,141 · management and general $249,665

• 16 · Occupancy

  total $564,545 · management and general $564,545

• 17 · Travel

  total $231,991 · program services $223,110 · management and general $8,881

• 19 · Conferences, conventions and meetings

  total $150,345 · management and general $150,345

• 20 · Interest

  total $1,014,996 · program services $906,836 · management and general $108,160

• 22 · Depreciation, depletion and amortization

  total $1,652,973 · program services $1,541,033 · management and general $111,940

• 23 · Insurance

  total $548,359 · management and general $548,359

• 24a · Other expenses: NON-OPERATING EXPENSES

  total $3,308,099 · program services $3,308,099

• 24b · Other expenses: OPERATIONS

  total $2,430,644 · program services $1,923,519 · management and general $506,344 · fundraising $781

• 24c · Other expenses: FOOD SERVICE CONTRACTS

  total $1,651,944 · program services $1,651,944

• 24d · Other expenses: OTHER EXPENSES

  total $1,192,906 · program services $716,956 · management and general $464,387 · fundraising $11,563

• 24e · All other expenses

  total $1,098,027 · program services $997,558 · management and general $100,469

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $10,790,033 · end of year $9,418,947

• 3 · Pledges and grants receivable

  beginning of year $1,716,589 · end of year $1,435,276

• 4 · Accounts receivable

  beginning of year $2,576,148 · end of year $3,821,800

• 7 · Other notes and loans receivable

  beginning of year $407,426 · end of year $388,491

• 8 · Inventories for sale or use

  beginning of year $54,495 · end of year $54,322

• 9 · Prepaid expenses and deferred charges

  beginning of year $38,729 · end of year $53,416

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

  $72,737,521

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

  $48,156,266

• 10c · Land, buildings and equipment, net

  beginning of year $24,619,877 · end of year $24,581,255

• 11 · Investments: publicly traded securities

  beginning of year $18,997,025 · end of year $18,520,454

• 15 · Other assets

  beginning of year $383,472 · end of year $248,497

• 17 · Accounts payable and accrued expenses

  beginning of year $2,277,420 · end of year $2,190,487

• 19 · Deferred revenue

  beginning of year $1,759,734 · end of year $2,458,349

• 20 · Tax-exempt bond liabilities

  beginning of year $15,135,038 · end of year $14,703,388

• 25 · Other liabilities

  beginning of year $1,500,674 · end of year $1,594,909

• 27 · Net assets without donor restrictions

  beginning of year $15,529,162 · end of year $12,944,033

• 28 · Net assets with donor restrictions

  beginning of year $23,381,766 · end of year $24,631,292

The filer's explanations (Part III)

Part I, Line 1a

THE COLLEGE PAYS DUES AND MEMBERSHIP FEES TO A SOCIAL CLUB ON BEHALF OF ITS PRESIDENT. THIS MEMBERSHIP PROVIDES A VENUE FOR COLLEGE RELATED EVENTS. IT IS INCLUDED IN THE PRESIDENT'S EMPLOYEMENT CONTRACT WHICH IS APPROVED BY THE TRUSTEES.

Part I, Line 1b

THE COLLEGE DOES NOT HAVE A WRITTEN POLICY REGARDING THE USE OF SOCIAL CLUBS, BUT HAS AN UNDERSTANDING THAT IT IS TO BE USED FOR COLLEGE BUSINESS AND EVENTS.