Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $64,036

• 1f · All other contributions, gifts and grants

  $5,911,601

• 1g · Noncash contributions included above

  $1,644,992

• 2a · Program service revenue: TUITION AND FEES

  total $20,244,385 · related or exempt $20,244,385

• 2b · Program service revenue: STUDENT SUPPORT SERVICES

  total $1,699,649 · related or exempt $1,699,649

• 2c · Program service revenue: FOOD SERVICES

  total $894,124 · related or exempt $894,124

• 3 · Investment income

  total $1,536,206 · excluded $1,536,206

• 6a · Gross rents

  real property $4,330

• 6b · Less rental expenses

  real property $38,110

• 6c · Rental income or loss

  real property -$33,780

• 6d · Net rental income or loss

  total -$33,780 · unrelated business -$37,287 · excluded $3,507

• 7a · Gross sales of assets other than inventory

  securities $30,462,309 · other assets $4,000

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

  securities $29,577,136 · other assets $0

• 7c · Gain or loss

  securities $885,173 · other assets $4,000

• 7d · Net gain or loss

  total $889,173 · excluded $889,173

• 8a · Fundraising events: gross income

  $263,958

• 8a · Fundraising events: contributions included on line 1c

  $64,036

• 8b · Fundraising events: direct expenses

  $107,090

• 8c · Net income from fundraising events

  total $156,868 · excluded $156,868

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $1,399,417 · management and general $1,346,678 · fundraising $52,739

• 7 · Other salaries and wages

  total $10,976,145 · program services $10,262,433 · management and general $589,119 · fundraising $124,593

• 8 · Pension plan contributions

  total $468,028 · program services $388,112 · management and general $72,356 · fundraising $7,560

• 10 · Payroll taxes

  total $923,174 · program services $765,490 · management and general $142,767 · fundraising $14,917

• 11b · Fees: legal

  total $46,698 · management and general $46,698

• 11c · Fees: accounting

  total $63,010 · management and general $63,010

• 11f · Fees: investment management

  total $205,502 · management and general $205,502

• 11g · Fees: other

  total $258,011 · management and general $258,011

• 17 · Travel

  total $50,426 · management and general $50,426

• 20 · Interest

  total $906,208 · program services $874,931 · management and general $21,500 · fundraising $9,777

• 22 · Depreciation, depletion and amortization

  total $1,542,693 · program services $1,494,948 · management and general $31,183 · fundraising $16,562

• 23 · Insurance

  total $1,033,936 · program services $857,333 · management and general $159,896 · fundraising $16,707

• 24a · Other expenses: TEACHING SUPPLIES AND E

  total $1,644,234 · program services $1,644,234 · fundraising $0

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $1,535,274 · program services $1,488,251 · management and general $30,712 · fundraising $16,311

• 24c · Other expenses: OTHER PROGRAMS

  total $1,371,263 · program services $1,371,263

• 24d · Other expenses: TELEPHONE & UTILITIES

  total $612,301 · program services $578,841 · management and general $25,813 · fundraising $7,647

• 24e · All other expenses

  total $928,698 · program services $436,112 · management and general $422,442 · fundraising $70,144

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,188,813 · end of year $7,210,011

• 3 · Pledges and grants receivable

  beginning of year $2,676,937 · end of year $4,256,289

• 4 · Accounts receivable

  beginning of year $39,062 · end of year $111,371

• 7 · Other notes and loans receivable

  beginning of year $30,000 · end of year $16,880

• 9 · Prepaid expenses and deferred charges

  beginning of year $184,911 · end of year $183,340

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

  $52,453,098

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

  $21,778,326

• 10c · Land, buildings and equipment, net

  beginning of year $27,405,269 · end of year $30,674,772

• 12 · Investments: other securities

  beginning of year $28,841,023 · end of year $31,437,285

• 15 · Other assets

  beginning of year $27,943 · end of year $222,831

• 17 · Accounts payable and accrued expenses

  beginning of year $1,178,338 · end of year $1,173,780

• 19 · Deferred revenue

  beginning of year $2,542,183 · end of year $2,632,574

• 23 · Secured mortgages and notes payable

  beginning of year $21,287,725 · end of year $19,889,271

• 25 · Other liabilities

  beginning of year $970,000 · end of year $1,743,069

• 27 · Net assets without donor restrictions

  beginning of year $33,789,918 · end of year $38,251,389

• 28 · Net assets with donor restrictions

  beginning of year $5,625,794 · end of year $10,422,696

The filer's explanations (Part III)

PART I, LINE 4A

BLAKE DAVENPORT - $26,943