Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $554,041

• 1f · All other contributions, gifts and grants

  $36,727,166

• 1g · Noncash contributions included above

  $995,721

• 2a · Program service revenue: Tuition and fees

  total $84,665,116 · related or exempt $84,665,116

• 2b · Program service revenue: Student Housing Fees

  total $10,662,391 · related or exempt $10,662,391

• 2c · Program service revenue: Food services

  total $10,168,650 · related or exempt $10,168,650

• 2d · Program service revenue: Health Center

  total $370,699 · related or exempt $370,699

• 2e · Program service revenue: Bookstore commissions

  total $151,544 · related or exempt $151,544

• 2f · All other program service revenue

  total $3,049,047 · related or exempt $3,049,047 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $6,942,295 · unrelated business $1,987 · excluded $6,940,308

• 6a · Gross rents

  real property $170,106

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $170,106 · personal property $0

• 6d · Net rental income or loss

  total $170,106 · excluded $170,106

• 7a · Gross sales of assets other than inventory

  securities $51,903,051 · other assets $386,367

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

  securities $46,744,307 · other assets $70,021

• 7c · Gain or loss

  securities $5,158,744 · other assets $316,346

• 7d · Net gain or loss

  total $5,475,090 · excluded $5,475,090

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $736,934 · program services $736,934

• 2 · Grants to domestic individuals

  total $48,328,366 · program services $48,328,366

• 5 · Compensation of officers, directors and key employees

  total $1,582,193 · program services $1,256,312 · management and general $212,538 · fundraising $113,343

• 6 · Compensation of disqualified persons

  total $57,183 · program services $45,406 · management and general $7,681 · fundraising $4,096

• 7 · Other salaries and wages

  total $30,454,482 · program services $24,181,835 · management and general $4,090,985 · fundraising $2,181,662

• 8 · Pension plan contributions

  total $1,494,309 · program services $1,186,529 · management and general $200,732 · fundraising $107,048

• 9 · Other employee benefits

  total $10,291,907 · program services $8,172,105 · management and general $1,382,523 · fundraising $737,279

• 10 · Payroll taxes

  total $2,143,966 · program services $1,702,378 · management and general $288,001 · fundraising $153,587

• 11b · Fees: legal

  total $236,616 · program services $187,881 · management and general $31,785 · fundraising $16,950

• 11c · Fees: accounting

  total $184,963 · management and general $184,963

• 11d · Fees: lobbying

  total $24,000 · program services $19,057 · management and general $3,224 · fundraising $1,719

• 11f · Fees: investment management

  total $660,085 · management and general $660,085

• 11g · Fees: other

  total $6,009,212 · program services $4,771,507 · management and general $807,224 · fundraising $430,481

• 12 · Advertising and promotion

  total $676,739 · program services $537,353 · management and general $90,907 · fundraising $48,479

• 13 · Office expenses

  total $838,296 · program services $665,634 · management and general $112,609 · fundraising $60,053

• 14 · Information technology

  total $1,328,774 · program services $1,055,089 · management and general $178,496 · fundraising $95,189

• 16 · Occupancy

  total $3,080,828 · program services $2,446,276 · management and general $413,851 · fundraising $220,701

• 17 · Travel

  total $2,972,887 · program services $2,360,568 · management and general $399,351 · fundraising $212,968

• 19 · Conferences, conventions and meetings

  total $1,477,366 · program services $1,173,076 · management and general $198,456 · fundraising $105,834

• 20 · Interest

  total $974,387 · program services $974,387

• 22 · Depreciation, depletion and amortization

  total $9,989,002 · program services $7,931,588 · management and general $1,341,834 · fundraising $715,580

• 23 · Insurance

  total $769,873 · program services $611,304 · management and general $103,418 · fundraising $55,151

• 24a · Other expenses: Food Service Costs

  total $6,771,760 · program services $6,771,760

• 24b · Other expenses: Operating Supplies

  total $1,479,166 · program services $1,174,505 · management and general $198,698 · fundraising $105,963

• 24c · Other expenses: Faculty/Staff Recruiting & Dev

  total $366,862 · program services $291,300 · management and general $49,281 · fundraising $26,281

• 24d · Other expenses: Instructional Materials

  total $183,927 · program services $183,927

• 24e · All other expenses

  total $3,960,731 · program services $3,144,946 · management and general $532,051 · fundraising $283,734

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,074,233 · end of year $8,393,626

• 3 · Pledges and grants receivable

  beginning of year $51,633,391 · end of year $28,356,519

• 4 · Accounts receivable

  beginning of year $1,641,845 · end of year $1,148,647

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $957,811 · end of year $914,397

• 8 · Inventories for sale or use

  beginning of year $222,433 · end of year $300,405

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,308,524 · end of year $1,496,112

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

  $294,191,369

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

  $111,520,718

• 10c · Land, buildings and equipment, net

  beginning of year $163,056,067 · end of year $182,670,651

• 11 · Investments: publicly traded securities

  beginning of year $207,961,719 · end of year $232,411,284

• 12 · Investments: other securities

  beginning of year $15,110,132 · end of year $12,797,900

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $8,323,877 · end of year $10,075,969

• 17 · Accounts payable and accrued expenses

  beginning of year $11,060,454 · end of year $8,245,811

• 19 · Deferred revenue

  beginning of year $441,753 · end of year $627,559

• 20 · Tax-exempt bond liabilities

  beginning of year $30,258,809 · end of year $29,616,084

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $4,872,788 · end of year $4,367,207

• 27 · Net assets without donor restrictions

  beginning of year $181,697,612 · end of year $200,711,145

• 28 · Net assets with donor restrictions

  beginning of year $224,958,616 · end of year $234,997,704

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

The University provided first-class travel for the President in furtherance of University business. Under the University's travel policy, first-class travel is permitted only in limited circumstances and requires substantiation and documentation of the business purpose. Because the travel met the requirements of the University's accountable plan and was incurred for bona fide University business purposes, the cost was not treated as taxable compensation to the President.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

The University President lives in a residence that is located on the campus of the University. The President is required to live in the residence as a condition of employment. The residence is furnished for the convenience of the University and the President regularly uses it to conduct University business. The value provided to President D. Michael Lindsay was $24,000 for tax year 2024. The amounts were nontaxable.

Schedule J, Part I, Line 1a Personal services

University staff clean the public areas of the President's residence and maintain the residence and its grounds. The value of such services were not treated as taxable compensation to President D. Michael Lindsay for tax year 2024.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• Taylor Angel Fund LLC

  New business/research endeavors · IN · income $0 · assets $0

  Directly controlled by Taylor University

• 1846 Real Estate 1809 Main Street LLC

  Real estate · IN · income $128,586 · assets $2,249,990

  Directly controlled by Taylor University

Related corporations and trusts

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

• Charitable Remainder Trusts (1)

  Trust · Charitable Trusts · CA · controlled entity

  Directly controlled by Taylor University

• Charitable Remainder Trusts (7)

  Trust · Charitable Trusts · IN · controlled entity

  Directly controlled by Taylor University

• Charitable Remainder Trusts (1)

  Trust · Charitable Trusts · MI · controlled entity

  Directly controlled by Taylor University

• Charitable Remainder Trusts (1)

  Trust · Charitable Trusts · MO · controlled entity

  Directly controlled by Taylor University

• Charitable Remainder Trusts (1)

  Trust · Charitable Trusts · OH · controlled entity

  Directly controlled by Taylor University

• Pooled Income Funds (1)

  Trust · Pooled Income Fund · DE · controlled entity

  Directly controlled by Taylor University

• 1846 Real Estate Kershner Commons LLC

  C Corporation · Real estate · IN

  Directly controlled by 1846 Enterprises Inc