Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $9,338,902

• 1f · All other contributions, gifts and grants

  $4,870,975

• 1g · Noncash contributions included above

  $53,625

• 2a · Program service revenue: TUITION AND STUDENT FEES

  total $1,286,624,380 · related or exempt $1,286,624,380

• 2b · Program service revenue: RESIDENCE AND DINING

  total $18,953,614 · related or exempt $18,953,614

• 2c · Program service revenue: OTHER AUXILIARY ENTERPRISES

  total $3,044,904 · related or exempt $3,044,904

• 3 · Investment income

  total $33,885,131 · unrelated business -$44,350 · excluded $33,929,481

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

  total $0 · excluded $0

• 5 · Royalties

  total $0 · excluded $0

• 6a · Gross rents

  real property $1,219,752

• 6b · Less rental expenses

  real property $947,084

• 6c · Rental income or loss

  real property $272,668 · personal property $0

• 6d · Net rental income or loss

  total $272,668 · excluded $272,668

• 7a · Gross sales of assets other than inventory

  securities $87,489,383 · other assets $377,091

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

  securities $83,631,959 · other assets $205,546

• 7c · Gain or loss

  securities $3,857,424 · other assets $171,545

• 7d · Net gain or loss

  total $4,028,969 · excluded $4,028,969

• 8a · Fundraising events: gross income

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0

• 10a · Gross sales of inventory

  $0

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $0

• 11a · Other revenue: BAD DEBT RECOVERY

  total $6,406,217 · related or exempt $6,406,217

• 11b · Other revenue: STUDENT INSURANCE

  total $1,036,739 · related or exempt $1,036,739

• 11c · Other revenue: PERKINS REVENUE & CLOSEOUTS

  total $102,190 · related or exempt $102,190

• 11d · All other revenue

  total $2,467,991 · related or exempt $2,467,991

• 11e · Other revenue, total

  $10,013,137

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $20,293,964 · program services $20,293,964

• 2 · Grants to domestic individuals

  total $60,552,672 · program services $60,552,672

• 3 · Grants to foreign organizations and individuals

  total $1,695,050 · program services $1,695,050

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $7,207,571 · program services $4,710,366 · management and general $2,497,205

• 6 · Compensation of disqualified persons

  total $15,950 · program services $15,950

• 7 · Other salaries and wages

  total $479,854,147 · program services $387,666,278 · management and general $90,951,385 · fundraising $1,236,484

• 8 · Pension plan contributions

  total $24,934,398 · program services $20,178,836 · management and general $4,691,892 · fundraising $63,670

• 9 · Other employee benefits

  total $92,165,459 · program services $74,588,319 · management and general $17,577,140

• 10 · Payroll taxes

  total $39,454,678 · program services $31,834,875 · management and general $7,529,793 · fundraising $90,010

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $1,105,263 · management and general $1,105,263

• 11c · Fees: accounting

  total $372,338 · management and general $372,338

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $6,289,758 · management and general $6,289,758

• 11g · Fees: other

  total $91,569,785 · program services $44,022,906 · management and general $47,527,218 · fundraising $19,661

• 12 · Advertising and promotion

  total $195,431,771 · program services $192,560,250 · management and general $2,866,958 · fundraising $4,563

• 13 · Office expenses

  total $17,278,065 · program services $12,946,955 · management and general $4,232,703 · fundraising $98,407

• 14 · Information technology

  total $76,073,900 · program services $41,542,590 · management and general $34,531,073 · fundraising $237

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $10,238,780 · program services $423,991 · management and general $9,814,395 · fundraising $394

• 17 · Travel

  total $6,922,984 · program services $4,877,066 · management and general $2,019,234 · fundraising $26,684

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $1,439,438 · program services $690,527 · management and general $748,299 · fundraising $612

• 20 · Interest

  total $10,207,226 · program services $8,275,508 · management and general $1,931,718

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $25,588,460 · program services $21,003,868 · management and general $4,584,592

• 23 · Insurance

  total $2,973,042 · program services $1,313,765 · management and general $1,659,277

• 24a · Other expenses: BAD DEBT

  total $66,486,944 · management and general $66,486,944

• 24b · Other expenses: STUDENT AID

  total $5,295,667 · program services $5,295,667

• 24c · Other expenses: CREDIT CARD FEES

  total $4,560,280 · program services $53,354 · management and general $4,506,926

• 24d · Other expenses: LIBRARY DATABASES

  total $3,362,035 · program services $3,362,035

• 24e · All other expenses

  total $10,619,183 · program services $409,642 · management and general $10,204,637 · fundraising $4,904

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $121,206,644 · end of year $30,923,570

• 2 · Savings and temporary cash investments

  beginning of year $245,868,277 · end of year $360,868,942

• 3 · Pledges and grants receivable

  beginning of year $132,140,294 · end of year $104,254,506

• 4 · Accounts receivable

  beginning of year $44,127,434 · end of year $49,666,148

• 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 $336,596 · end of year $148,222

• 8 · Inventories for sale or use

  beginning of year $4,561 · end of year $1,777

• 9 · Prepaid expenses and deferred charges

  beginning of year $24,075,722 · end of year $15,297,512

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

  $624,967,830

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

  $184,162,212

• 10c · Land, buildings and equipment, net

  beginning of year $365,525,956 · end of year $440,805,618

• 11 · Investments: publicly traded securities

  beginning of year $153,028,563 · end of year $159,646,426

• 12 · Investments: other securities

  beginning of year $340,940,826 · end of year $409,435,547

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 14 · Intangible assets

  beginning of year $4,137,188 · end of year $1,280,000

• 15 · Other assets

  beginning of year $56,319,013 · end of year $54,637,953

• 17 · Accounts payable and accrued expenses

  beginning of year $135,414,977 · end of year $222,567,683

• 18 · Grants payable

  beginning of year $556,200 · end of year $199,155

• 19 · Deferred revenue

  beginning of year $43,332,081 · end of year $22,054,123

• 20 · Tax-exempt bond liabilities

  beginning of year $181,775,721 · end of year $179,784,276

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $59,534,215 · end of year $15,989,893

• 27 · Net assets without donor restrictions

  beginning of year $1,007,793,577 · end of year $1,125,369,652

• 28 · Net assets with donor restrictions

  beginning of year $59,304,303 · end of year $61,001,439

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A:

HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: ONE OFFICER WAS PROVIDED HOUSING AS PART OF HIS TAXABLE TOTAL COMPENSATION PACKAGE. PERSONAL SERVICES: THE UNIVERSITY PROVIDES CERTAIN PERSONAL SERVICES TO ONE OFFICER AS SPECIFIED IN THE OFFICER'S EMPLOYMENT AGREEMENT. THE ACTUAL OR ESTIMATED COSTS OF SUCH SERVICES WERE INCLUDED IN THE OFFICER'S TAXABLE INCOME.

SCHEDULE J, PART I, LINE 1B:

REIMBURSEMENTS ARE COVERED UNDER THE EMPLOYMENT CONTRACTS AND/OR THE UNIVERSITY'S TRAVEL AND BUSINESS EXPENSE POLICY.

SCHEDULE J, PART I, LINE 4A:

ONE INDIVIDUAL REPORTED IN PART VII, SECTION A, LINE 1A RECEIVED A SEVERANCE PAYMENT. KIRK KOLENBRANDER RECEIVED SEVERANCE IN THE AMOUNT OF $330,002. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(iii) FOR THE RESPECTIVE INDIVIDUAL.

SCHEDULE J, PART I, LINE 4B:

DURING CALENDAR YEAR 2022, THE PRESIDENT & CEO PARTICIPATED IN DEFERRED COMPENSATION PLAN. AMOUNTS CREDITED ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE UNTIL VESTING IN 2025.

SCHEDULE J, PART I, LINE 7:

FOR OUTSTANDING SERVICE, CERTAIN INDIVIDUALS RECEIVED A BONUS, THE AMOUNTS OF WHICH ARE LISTED ON SCHEDULE J, PART II, COLUMN (B)(II).

Disregarded entities

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

• KENZIE ACADEMY SPV LLC

  ISA ACTIVITY · DE · income $0 · assets $30,463

  Directly controlled by SNHU

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• Rethink Education Seed LP

  EXCLUDED UNDER 512 · Investments · NY · 66.67% owned · share of income $10,082 · share of assets $4,484,739

  Directly controlled by NA

Related corporations and trusts

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

• SPLIT INTEREST TRUSTS (2)

  TRUST · SUPPORT · NH · controlled entity

  Directly controlled by SNHU

• KenzieAcademy Administracao e Participa

  C Corp · ASSET MANAGEM · BR · 100% owned · share of income $0 · share of assets $2,092 · controlled entity

  Directly controlled by SNHU