Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,205,581

• 1e · Government grants (contributions)

  $2,829,225

• 1f · All other contributions, gifts and grants

  $36,096,141

• 1g · Noncash contributions included above

  $1,242,490

• 2a · Program service revenue: Student Tuition & Fees

  total $68,711,384 · related or exempt $68,711,384

• 2b · Program service revenue: Auxiliary Enterprises

  total $11,134,980 · related or exempt $11,134,980

• 2c · Program service revenue: Other

  total $3,920,514 · related or exempt $3,892,083 · unrelated business $28,431

• 3 · Investment income

  total $2,217,773 · excluded $2,217,773

• 7a · Gross sales of assets other than inventory

  securities $1,509,362

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

  securities $817,491

• 7c · Gain or loss

  securities $691,871

• 7d · Net gain or loss

  total $691,871 · excluded $691,871

• 8a · Fundraising events: gross income

  $82,264

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

  $1,205,581

• 8b · Fundraising events: direct expenses

  $98,248

• 8c · Net income from fundraising events

  total -$15,984 · excluded -$15,984

• 9a · Gaming: gross income

  $41,930

• 9b · Gaming: direct expenses

  $9,305

• 9c · Net income from gaming

  total $32,625 · excluded $32,625

• 10a · Gross sales of inventory

  $2,220,219

• 10b · Cost of goods sold

  $1,989,499

• 10c · Net income from sales of inventory

  total $230,720 · related or exempt $230,720

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $554,672 · program services $554,672

• 2 · Grants to domestic individuals

  total $22,621,193 · program services $22,621,193

• 5 · Compensation of officers, directors and key employees

  total $604,579 · program services $441,572 · management and general $163,007

• 6 · Compensation of disqualified persons

  total $179,638 · program services $113,752 · management and general $65,886

• 7 · Other salaries and wages

  total $29,156,062 · program services $27,359,786 · management and general $397,174 · fundraising $1,399,102

• 8 · Pension plan contributions

  total $1,687,426 · program services $1,573,021 · management and general $25,248 · fundraising $89,157

• 9 · Other employee benefits

  total $4,312,257 · program services $3,363,312 · management and general $745,710 · fundraising $203,235

• 10 · Payroll taxes

  total $2,209,355 · program services $2,063,511 · management and general $43,853 · fundraising $101,991

• 11b · Fees: legal

  total $282,998 · management and general $282,998

• 11c · Fees: accounting

  total $122,350 · management and general $122,350

• 11g · Fees: other

  total $3,744,079 · program services $1,037,140 · management and general $2,651,230 · fundraising $55,709

• 12 · Advertising and promotion

  total $1,866,586 · program services $413,963 · fundraising $1,452,623

• 13 · Office expenses

  total $2,372,453 · program services $1,359,876 · management and general $285,931 · fundraising $726,646

• 14 · Information technology

  total $1,803,012 · program services $240,085 · management and general $1,562,927

• 16 · Occupancy

  total $2,777,781 · program services $2,519,275 · management and general $258,506

• 17 · Travel

  total $1,471,712 · program services $1,469,278 · management and general $1,508 · fundraising $926

• 19 · Conferences, conventions and meetings

  total $644,871 · program services $558,219 · management and general $69,011 · fundraising $17,641

• 20 · Interest

  total $1,492,773 · management and general $1,492,773

• 22 · Depreciation, depletion and amortization

  total $5,265,132 · program services $4,234,520 · management and general $1,030,612

• 23 · Insurance

  total $43,788 · program services $26,198 · management and general $17,590

• 24a · Other expenses: Pledge Rec. Allow/Disc.

  total $6,578,730 · program services $6,578,730

• 24b · Other expenses: Dining Services

  total $5,729,956 · program services $5,729,956

• 24c · Other expenses: Activities Expense

  total $2,962,202 · program services $2,313,946 · management and general $140,608 · fundraising $507,648

• 24d · Other expenses: Repairs & Maintenance

  total $925,554 · program services $808,913 · management and general $114,829 · fundraising $1,812

• 24e · All other expenses

  total $1,197,382 · program services $915,524 · management and general $265,293 · fundraising $16,565

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $47,811 · end of year $41,124

• 2 · Savings and temporary cash investments

  beginning of year $16,359,506 · end of year $14,991,926

• 3 · Pledges and grants receivable

  beginning of year $9,507,367 · end of year $26,599,427

• 4 · Accounts receivable

  beginning of year $7,554,548 · end of year $8,411,101

• 7 · Other notes and loans receivable

  beginning of year $18,000 · end of year $28,000

• 8 · Inventories for sale or use

  beginning of year $441,799 · end of year $573,127

• 9 · Prepaid expenses and deferred charges

  beginning of year $354,243 · end of year $906,474

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

  $176,688,234

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

  $70,435,935

• 10c · Land, buildings and equipment, net

  beginning of year $106,440,834 · end of year $106,252,299

• 11 · Investments: publicly traded securities

  beginning of year $70,172,005 · end of year $79,507,078

• 13 · Investments: program-related

  beginning of year $4,204,497 · end of year $3,590,842

• 15 · Other assets

  beginning of year $1,621,312 · end of year $1,641,147

• 17 · Accounts payable and accrued expenses

  beginning of year $7,673,918 · end of year $6,638,491

• 18 · Grants payable

  beginning of year $109,926 · end of year $99,906

• 19 · Deferred revenue

  beginning of year $9,062,309 · end of year $8,921,886

• 20 · Tax-exempt bond liabilities

  beginning of year $28,825,371 · end of year $27,335,724

• 21 · Escrow or custodial account liability

  beginning of year $730,555 · end of year $499,488

• 22 · Loans and payables to officers and key people

  end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $5,690,868 · end of year $3,852,945

• 25 · Other liabilities

  beginning of year $5,165,074 · end of year $5,046,133

• 27 · Net assets without donor restrictions

  beginning of year $84,017,422 · end of year $85,923,790

• 28 · Net assets with donor restrictions

  beginning of year $75,446,479 · end of year $104,224,182

The filer's explanations (Part III)

Part I, Line 1a

The President is required to live in the President's House on campus. The President received various minor personal services for convenience such as automotive maintenance. These are nontaxable benefits and not reported as taxable compensation. The Board of Trustees, with the President's understanding and approval, has set his salary below market because he is a cleric.

Part I, Line 1b

In 2009, the Board of Trustees voted that it was in the interests and convenience of the University to maintain president's housing on campus and therefore established a residence for the president.