Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $31,615,572

• 1g · Noncash contributions included above

  $16,560,362

• 2a · Program service revenue: ACADEMIC TUITION/FEES

  total $50,147,615 · related or exempt $50,147,615

• 2b · Program service revenue: ROOM AND BOARD FEES

  total $24,473,636 · related or exempt $24,473,636

• 2c · Program service revenue: BOOKSTORE

  total $1,200,435 · related or exempt $1,200,435

• 3 · Investment income

  total $2,070,044 · related or exempt $1,854,893 · unrelated business $215,151

• 7a · Gross sales of assets other than inventory

  securities $39,583,296

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

  securities $32,645,530

• 7c · Gain or loss

  securities $6,937,766

• 7d · Net gain or loss

  total $6,937,766 · related or exempt $6,937,766

• 11a · Other revenue: MISC INCOME

  total $8,014,258 · related or exempt $7,981,320 · unrelated business $32,938

• 11b · Other revenue: CONFERENCES

  total $63,156 · unrelated business $63,156

• 11e · Other revenue, total

  $8,077,414

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $707,495 · program services $707,495

• 2 · Grants to domestic individuals

  total $11,296,544 · program services $11,296,544

• 3 · Grants to foreign organizations and individuals

  total $94,380 · program services $94,380

• 5 · Compensation of officers, directors and key employees

  total $1,542,303 · management and general $1,377,418 · fundraising $164,885

• 7 · Other salaries and wages

  total $34,364,595 · program services $28,146,431 · management and general $4,838,333 · fundraising $1,379,831

• 8 · Pension plan contributions

  total $2,195,694 · program services $1,693,658 · management and general $400,858 · fundraising $101,178

• 9 · Other employee benefits

  total $3,826,760 · program services $2,952,118 · management and general $698,181 · fundraising $176,461

• 10 · Payroll taxes

  total $2,431,365 · program services $1,876,974 · management and general $444,040 · fundraising $110,351

• 11b · Fees: legal

  total $15,823 · management and general $15,823

• 11c · Fees: accounting

  total $141,411 · management and general $141,411

• 11e · Fees: professional fundraising services

  total $41,840 · fundraising $41,840

• 11g · Fees: other

  total $2,958,932 · program services $720,372 · management and general $2,188,098 · fundraising $50,462

• 12 · Advertising and promotion

  total $1,321,719 · program services $124,145 · management and general $776,732 · fundraising $420,842

• 13 · Office expenses

  total $2,053,506 · program services $950,344 · management and general $931,594 · fundraising $171,568

• 14 · Information technology

  total $2,500,965 · program services $1,784,485 · management and general $659,751 · fundraising $56,729

• 16 · Occupancy

  total $6,110,876 · program services $5,667,911 · management and general $370,405 · fundraising $72,560

• 17 · Travel

  total $1,501,831 · program services $1,099,431 · management and general $330,498 · fundraising $71,902

• 20 · Interest

  total $320,490 · management and general $320,490

• 22 · Depreciation, depletion and amortization

  total $10,812,336 · program services $9,461,105 · management and general $1,294,019 · fundraising $57,212

• 23 · Insurance

  total $91,625 · program services $91,625

• 24a · Other expenses: CONTRACT BOARD FEES

  total $7,697,490 · program services $7,697,490

• 24b · Other expenses: EQUIPMENT / MAINTENANCE

  total $2,994,094 · program services $2,462,182 · management and general $471,488 · fundraising $60,424

• 24c · Other expenses: BOOKSTORE MERCHANDISE

  total $867,253 · program services $867,253

• 24d · Other expenses: OTHER EXPENSES (AUDIT A

  total $835,615 · management and general $835,615

• 24e · All other expenses

  total $2,591,166 · program services $1,978,818 · management and general $573,686 · fundraising $38,662

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $12,071,314 · end of year $16,925,585

• 3 · Pledges and grants receivable

  beginning of year $110,847,100 · end of year $85,098,868

• 4 · Accounts receivable

  beginning of year $163,785 · end of year $172,895

• 8 · Inventories for sale or use

  beginning of year $332,172 · end of year $323,358

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,517,866 · end of year $2,632,354

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

  $389,274,829

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

  $203,438,620

• 10c · Land, buildings and equipment, net

  beginning of year $166,457,346 · end of year $185,836,209

• 11 · Investments: publicly traded securities

  beginning of year $114,218,359 · end of year $130,870,618

• 12 · Investments: other securities

  beginning of year $99,799,108 · end of year $109,951,891

• 14 · Intangible assets

  beginning of year $0 · end of year $7,382,765

• 15 · Other assets

  beginning of year $6,624,411 · end of year $7,918,711

• 17 · Accounts payable and accrued expenses

  beginning of year $7,511,569 · end of year $6,054,464

• 19 · Deferred revenue

  beginning of year $2,360,404 · end of year $2,173,073

• 23 · Secured mortgages and notes payable

  beginning of year $1,034,633 · end of year $0

• 25 · Other liabilities

  beginning of year $16,675,961 · end of year $11,877,741

• 27 · Net assets without donor restrictions

  beginning of year $163,478,684 · end of year $193,777,240

• 28 · Net assets with donor restrictions

  beginning of year $321,970,210 · end of year $333,230,736

The filer's explanations (Part III)

PART I, LINE 6

THE PRESIDENTS' BONUS IS DETERMINED EACH YEAR BY CRITERIA SET FORTH BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES INCLUDING SUBJECTS SUCH AS: FUNDRAISING, FINANCIAL PERFORMANCE RELATED TO THE COLLEGE'S OPERATING BUDGET, STRATEGIC PLANNING OUTCOMES, AND ENROLLMENT TARGETS. THIS GENERAL BONUS AWARD IS A PERCENTAGE OF THE BASE COMPENSATION UP TO A MAXIMUM OF 10%.