Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $5,000

• 1c · Fundraising events

  $181,335

• 1e · Government grants (contributions)

  $5,314,402

• 1f · All other contributions, gifts and grants

  $1,516,688

• 1g · Noncash contributions included above

  $4,998

• 2a · Program service revenue: TUITION AND FEES

  total $118,272,069 · related or exempt $118,272,069

• 2b · Program service revenue: CHILD STUDY CENTER

  total $1,933,848 · related or exempt $1,933,848

• 2c · Program service revenue: STUDENT HOUSING

  total $1,635,390 · related or exempt $1,635,390

• 2d · Program service revenue: PERFORMANCE FEES

  total $15,684 · related or exempt $15,684

• 3 · Investment income

  total $1,345,214 · excluded $1,345,214

• 6a · Gross rents

  real property $475,662

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $475,662

• 6d · Net rental income or loss

  total $475,662 · excluded $475,662

• 7a · Gross sales of assets other than inventory

  securities $43,874,713

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

  securities $42,805,586

• 7c · Gain or loss

  securities $1,069,127

• 7d · Net gain or loss

  total $1,069,127 · excluded $1,069,127

• 8a · Fundraising events: gross income

  $64,510

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

  $181,335

• 8b · Fundraising events: direct expenses

  $185,629

• 8c · Net income from fundraising events

  total -$121,119 · excluded -$121,119

• 11a · Other revenue: BOOKSTORE/VENDING/COMMISSIONS

  total $86,067 · excluded $86,067

• 11b · Other revenue: ATHLETICS REVENUE

  total $18,384 · related or exempt $18,384

• 11d · All other revenue

  total $217,976 · excluded $217,976

• 11e · Other revenue, total

  $322,427

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $47,169,374 · program services $47,169,374

• 5 · Compensation of officers, directors and key employees

  total $3,087,112 · program services $1,316,342 · management and general $1,606,212 · fundraising $164,558

• 6 · Compensation of disqualified persons

  total $857,938 · program services $729,692 · management and general $128,246

• 7 · Other salaries and wages

  total $44,450,728 · program services $37,646,732 · management and general $6,402,453 · fundraising $401,543

• 8 · Pension plan contributions

  total $2,321,838 · program services $1,824,131 · management and general $466,856 · fundraising $30,851

• 9 · Other employee benefits

  total $8,083,055 · program services $6,431,371 · management and general $1,586,767 · fundraising $64,917

• 10 · Payroll taxes

  total $3,613,594 · program services $3,012,103 · management and general $560,717 · fundraising $40,774

• 11b · Fees: legal

  total $13,447 · management and general $13,447

• 11c · Fees: accounting

  total $194,330 · management and general $194,330

• 11f · Fees: investment management

  total $230,803 · management and general $230,803

• 11g · Fees: other

  total $2,867,908 · program services $1,373,110 · management and general $1,443,754 · fundraising $51,044

• 12 · Advertising and promotion

  total $4,615,293 · program services $489,789 · management and general $4,123,188 · fundraising $2,316

• 13 · Office expenses

  total $2,450,706 · program services $1,548,593 · management and general $794,631 · fundraising $107,482

• 14 · Information technology

  total $2,614,158 · program services $736,015 · management and general $1,878,015 · fundraising $128

• 16 · Occupancy

  total $6,127,537 · program services $4,247,937 · management and general $1,851,109 · fundraising $28,491

• 17 · Travel

  total $574,532 · program services $516,413 · management and general $58,073 · fundraising $46

• 19 · Conferences, conventions and meetings

  total $75,350 · program services $35,738 · management and general $39,612

• 20 · Interest

  total $1,356,143 · program services $976,422 · management and general $366,160 · fundraising $13,561

• 22 · Depreciation, depletion and amortization

  total $3,521,225 · program services $2,535,282 · management and general $950,731 · fundraising $35,212

• 23 · Insurance

  total $1,138,138 · management and general $1,138,138

• 24a · Other expenses: BUILDING CONTRACTED SVC

  total $2,209,028 · program services $1,605,620 · management and general $581,858 · fundraising $21,550

• 24b · Other expenses: SCHEDULED EVENTS

  total $1,174,096 · program services $785,603 · management and general $375,861 · fundraising $12,632

• 24c · Other expenses: STUDENT BAD DEBT

  total $640,124 · management and general $640,124

• 24d · Other expenses: BOOKS/MEMBERSHIPS/SUBS.

  total $489,259 · program services $231,292 · management and general $257,953 · fundraising $14

• 24e · All other expenses

  total $832,596 · program services $237,497 · management and general $593,510 · fundraising $1,589

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $14,557 · end of year $13,073

• 2 · Savings and temporary cash investments

  beginning of year $5,045,009 · end of year $2,945,604

• 3 · Pledges and grants receivable

  beginning of year $997,648 · end of year $1,083,310

• 4 · Accounts receivable

  beginning of year $2,057,365 · end of year $1,874,916

• 7 · Other notes and loans receivable

  beginning of year $230,743 · end of year $187,016

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,661,511 · end of year $1,257,866

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

  $172,846,302

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

  $92,235,493

• 10c · Land, buildings and equipment, net

  beginning of year $68,085,455 · end of year $80,610,809

• 11 · Investments: publicly traded securities

  beginning of year $76,751,221 · end of year $65,524,035

• 15 · Other assets

  beginning of year $11,481,849 · end of year $8,322,979

• 17 · Accounts payable and accrued expenses

  beginning of year $7,334,398 · end of year $7,387,634

• 19 · Deferred revenue

  beginning of year $4,870,805 · end of year $4,962,104

• 20 · Tax-exempt bond liabilities

  beginning of year $34,271,330 · end of year $33,058,465

• 25 · Other liabilities

  beginning of year $8,468,853 · end of year $8,332,854

• 27 · Net assets without donor restrictions

  beginning of year $82,079,362 · end of year $76,502,189

• 28 · Net assets with donor restrictions

  beginning of year $29,300,610 · end of year $31,576,362

The filer's explanations (Part III)

PART I, LINE 1A

PRESIDENT BOOMGAARDEN RECEIVED A HOUSING ALLOWANCE FROM THE UNIVERSITY IN THE CALENDAR YEAR ENDED DECEMBER 31, 2022. THE UNIVERSITY HAS DETERMINED THAT THE HOUSING ALLOWANCE IS TAXABLE TO THE PRESIDENT AND INCLUDED THE VALUE OF THE HOUSING IN HIS WAGES. THE AMOUNT IS DISCLOSED IN SCHEDULE J, PART II, COLUMN (B)(III). PRESIDENT BOOMGAARDEN ALSO RECEIVED AN AUTO ALLOWANCE FROM THE UNIVERSITY IN THE CALENDAR YEAR ENDED DECEMBER 31, 2022 WHICH THE UNIVERSITY DETERMINED TO BE NONTAXABLE TO THE PRESIDENT. THE AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (D).