Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $1,563,082

• 1e · Government grants (contributions)

  $1,837,528

• 1f · All other contributions, gifts and grants

  $5,683,937

• 1g · Noncash contributions included above

  $1,599,846

• 2a · Program service revenue: TUITION AND FEES

  total $87,039,931 · related or exempt $87,039,931

• 2b · Program service revenue: STUDENT HOUSING AND DI

  total $13,556,637 · related or exempt $13,556,637

• 2c · Program service revenue: SEMINARS AND EVENTS

  total $2,140,889 · related or exempt $2,140,889

• 2d · Program service revenue: PUBLIC SERVICE ACTIVIT

  total $1,886,346 · related or exempt $1,886,346

• 2e · Program service revenue: ALL OTHER PROGRAM SERV

  total $1,880,324 · related or exempt $1,880,324

• 3 · Investment income

  total $315,893 · excluded $315,893

• 6a · Gross rents

  real property $428,934

• 6b · Less rental expenses

  real property $618,278

• 6c · Rental income or loss

  real property -$189,344

• 6d · Net rental income or loss

  total -$189,344 · excluded -$189,344

• 7a · Gross sales of assets other than inventory

  securities $47,131,209 · other assets $1,175,000

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

  securities $35,291,274 · other assets $987,583

• 7c · Gain or loss

  securities $11,839,935 · other assets $187,417

• 7d · Net gain or loss

  total $12,027,352 · excluded $12,027,352

• 10a · Gross sales of inventory

  $1,196,692

• 10b · Cost of goods sold

  $781,752

• 10c · Net income from sales of inventory

  total $414,940 · excluded $414,940

• 11a · Other revenue: ACCOMMODATION

  total $169,971 · unrelated business $169,971

• 11b · Other revenue: OTHER TRANSFERS

  total $67,860 · excluded $67,860

• 11e · Other revenue, total

  $237,831

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $15,000 · program services $15,000

• 2 · Grants to domestic individuals

  total $44,859,684 · program services $44,859,684

• 3 · Grants to foreign organizations and individuals

  total $632,303 · program services $632,303

• 5 · Compensation of officers, directors and key employees

  total $2,417,078 · program services $1,298,845 · management and general $716,535 · fundraising $401,698

• 6 · Compensation of disqualified persons

  total $208,187 · program services $208,187

• 7 · Other salaries and wages

  total $43,189,762 · program services $39,358,705 · management and general $3,422,021 · fundraising $409,036

• 8 · Pension plan contributions

  total $2,506,564 · program services $2,297,350 · management and general $187,370 · fundraising $21,844

• 9 · Other employee benefits

  total $7,611,604 · program services $6,823,711 · management and general $684,685 · fundraising $103,208

• 10 · Payroll taxes

  total $3,570,921 · program services $3,185,669 · management and general $330,858 · fundraising $54,394

• 11b · Fees: legal

  total $255,408 · program services $33,059 · management and general $222,349

• 11c · Fees: accounting

  total $159,256 · management and general $159,256

• 11f · Fees: investment management

  total $919,921 · management and general $919,921

• 11g · Fees: other

  total $9,126,606 · program services $7,709,980 · management and general $861,584 · fundraising $555,042

• 12 · Advertising and promotion

  total $87,460 · program services $80,767 · management and general $5,968 · fundraising $725

• 13 · Office expenses

  total $1,712,267 · program services $1,284,233 · management and general $201,035 · fundraising $226,999

• 14 · Information technology

  total $1,962,291 · program services $1,482,623 · management and general $478,983 · fundraising $685

• 15 · Royalties

  total $7,089 · program services $3,573 · management and general $3,516

• 16 · Occupancy

  total $11,293,842 · program services $10,833,102 · management and general $458,258 · fundraising $2,482

• 17 · Travel

  total $2,343,835 · program services $2,213,112 · management and general $111,321 · fundraising $19,402

• 19 · Conferences, conventions and meetings

  total $603,231 · program services $593,912 · management and general $9,283 · fundraising $36

• 20 · Interest

  total $2,380,173 · program services $2,153,038 · management and general $197,134 · fundraising $30,001

• 22 · Depreciation, depletion and amortization

  total $6,783,409 · program services $6,097,500 · management and general $600,945 · fundraising $84,964

• 23 · Insurance

  total $1,311,263 · program services $274,771 · management and general $1,036,492

• 24e · All other expenses

  total $1,731,014 · program services $524,887 · management and general $1,205,512 · fundraising $615

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $19,180,570 · end of year $7,272,463

• 2 · Savings and temporary cash investments

  beginning of year $1,212,383 · end of year $497,752

• 3 · Pledges and grants receivable

  beginning of year $1,323,377 · end of year $1,693,064

• 4 · Accounts receivable

  beginning of year $6,213,793 · end of year $5,826,980

• 7 · Other notes and loans receivable

  beginning of year $3,956,909 · end of year $3,399,146

• 8 · Inventories for sale or use

  beginning of year $382,638 · end of year $410,567

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,746,933 · end of year $2,315,889

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

  $252,095,583

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

  $118,244,146

• 10c · Land, buildings and equipment, net

  beginning of year $139,190,255 · end of year $133,851,437

• 11 · Investments: publicly traded securities

  beginning of year $33,401 · end of year $182,358,204

• 12 · Investments: other securities

  beginning of year $192,292,421 · end of year $8,618,881

• 15 · Other assets

  beginning of year $189,304 · end of year $221,475

• 17 · Accounts payable and accrued expenses

  beginning of year $11,193,715 · end of year $9,824,154

• 19 · Deferred revenue

  beginning of year $3,968,910 · end of year $3,114,075

• 20 · Tax-exempt bond liabilities

  beginning of year $62,950,347 · end of year $62,324,097

• 21 · Escrow or custodial account liability

  end of year $5,359,514

• 23 · Secured mortgages and notes payable

  beginning of year $19,770,000 · end of year $17,720,000

• 25 · Other liabilities

  beginning of year $16,369,629 · end of year $10,986,348

• 27 · Net assets without donor restrictions

  beginning of year $128,033,300 · end of year $107,207,894

• 28 · Net assets with donor restrictions

  beginning of year $123,436,083 · end of year $129,929,776

The filer's explanations (Part III)

PART I, LINE 1A

FIRST CLASS TRAVEL - CERTAIN UNIVERSITY SALARIED OFFICERS AND KEY EMPLOYEES ARE ALLOWED TO FLY FIRST CLASS BASED ON WORK NEED OR PHYSICAL LIMITATIONS AS APPROVED BY THEIR IMMEDIATE SUPERVISORS. DISQUALIFIED PERSONS AS DEFINED BY IRC 4946 USE OF FIRST CLASS TRAVEL ARE ALSO APPROVED IN ADVANCE BY THE GOVERNING BOARD. TRAVEL FOR COMPANIONS - THE SPOUSE OF THE PRESIDENT IS ALLOWED TO TRAVEL WITH THE PRESIDENT AS REQUIRED FOR BUSINESS PURPOSES AND IS SPECIFICALLY APPROVED BY THE BOARD CHAIR. HOUSING ALLOWANCE - THE PRESIDENT IS REQUIRED, AS A CONDITION OF EMPLOYMENT, TO LIVE IN CAMPUS PROVIDED HOUSING. ALL FACILITY RELATED EXPENSES TO SUCH HOUSING IS PAID BY THE UNIVERSITY. SOCIAL CLUBS - SOCIAL CLUB MEMBERSHIPS ARE PROVIDED TO CERTAIN EMPLOYEES AND OFFICERS RELATED TO THEIR SPECIFIC JOB RESPONSIBILITIES FOR DONOR DEVELOPMENT AND BUSINESS MEETINGS. ANY PERSONAL USE OF THE CLUBS IS MINOR AND IS REIMBURSED TO THE UNIVERSITY. THE MEMBERSHIPS ARE APPROVED BY THE GOVERNING BOARD.

PART I, LINE 4A

LAURA HARTLEY RECEIVED SEVERANCE PAYMENT OF $126,804 AFTER HER DEPARTURE FROM THE ORGANIZATION.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CHARITABLE REMAINDER UNITRUSTS (38)

  T · BENEFICIAL INTEREST · WA

• POOLED INCOME FUND (1)

  T · BENEFICIAL INTEREST · WA