Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $6,288,022

• 1f · All other contributions, gifts and grants

  $4,788,166

• 1g · Noncash contributions included above

  $265,418

• 2a · Program service revenue: TUITION AND FEES

  total $63,485,300 · related or exempt $63,485,300

• 2b · Program service revenue: ROOM AND BOARD

  total $15,751,970 · related or exempt $15,751,970

• 2c · Program service revenue: OTHER AUXILIARY SERVICES

  total $5,692,972 · related or exempt $5,692,972

• 2d · Program service revenue: BOOKSTORE

  total $1,446,193 · related or exempt $1,446,193

• 2e · Program service revenue: STUDENT LOAN INTEREST AND FEES

  total $286,441 · related or exempt $286,441

• 3 · Investment income

  total $1,841,619 · excluded $1,841,619

• 6a · Gross rents

  real property $12,808

• 6b · Less rental expenses

  real property $8,967

• 6c · Rental income or loss

  real property $3,841

• 6d · Net rental income or loss

  total $3,841 · unrelated business $3,841

• 7a · Gross sales of assets other than inventory

  securities $2,577,143 · other assets $401,894

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

  securities $4,777,883 · other assets $436,409

• 7c · Gain or loss

  securities -$2,200,740 · other assets -$34,515

• 7d · Net gain or loss

  total -$2,235,255 · excluded -$2,235,255

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $30,895,449 · program services $30,895,449

• 5 · Compensation of officers, directors and key employees

  total $590,353 · management and general $590,353

• 7 · Other salaries and wages

  total $27,388,665 · program services $23,281,192 · management and general $3,488,583 · fundraising $618,890

• 8 · Pension plan contributions

  total $1,183,188 · program services $1,004,563 · management and general $151,920 · fundraising $26,705

• 9 · Other employee benefits

  total $4,361,563 · program services $3,657,795 · management and general $606,532 · fundraising $97,236

• 10 · Payroll taxes

  total $2,021,502 · program services $1,682,081 · management and general $294,706 · fundraising $44,715

• 11b · Fees: legal

  total $35,129 · management and general $35,129

• 11c · Fees: accounting

  total $506,639 · management and general $506,639

• 11f · Fees: investment management

  total $249,671 · management and general $249,671

• 11g · Fees: other

  total $469,688 · program services $154,327 · management and general $315,361

• 12 · Advertising and promotion

  total $2,404,579 · program services $724,310 · management and general $1,680,269

• 13 · Office expenses

  total $1,024,211 · program services $779,618 · management and general $244,593

• 14 · Information technology

  total $964,423 · program services $59,851 · management and general $904,572

• 16 · Occupancy

  total $2,484,549 · program services $2,434,172 · management and general $34,793 · fundraising $15,584

• 17 · Travel

  total $2,600,037 · program services $2,504,399 · management and general $95,638

• 19 · Conferences, conventions and meetings

  total $1,026,132 · program services $527,131 · management and general $499,001

• 20 · Interest

  total $970,345 · program services $813,764 · management and general $78,342 · fundraising $78,239

• 22 · Depreciation, depletion and amortization

  total $4,584,901 · program services $4,491,938 · management and general $64,205 · fundraising $28,758

• 23 · Insurance

  total $873,655 · program services $41,536 · management and general $832,119

• 24a · Other expenses: OTHER STUDENT SERVICES

  total $14,651,557 · program services $13,432,812 · management and general $1,003,977 · fundraising $214,768

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,530 · end of year $6,505

• 2 · Savings and temporary cash investments

  beginning of year $25,260,618 · end of year $20,077,252

• 3 · Pledges and grants receivable

  beginning of year $4,445,240 · end of year $5,189,909

• 4 · Accounts receivable

  beginning of year $1,405,821 · end of year $1,895,776

• 8 · Inventories for sale or use

  beginning of year $73,188 · end of year $66,401

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,138,043 · end of year $1,268,343

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

  $147,959,409

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

  $94,838,645

• 10c · Land, buildings and equipment, net

  beginning of year $51,434,672 · end of year $53,120,764

• 11 · Investments: publicly traded securities

  beginning of year $56,875,143 · end of year $55,130,346

• 12 · Investments: other securities

  beginning of year $10,316,676 · end of year $15,269,588

• 13 · Investments: program-related

  beginning of year $2,230,989 · end of year $1,910,943

• 15 · Other assets

  beginning of year $395,975 · end of year $298,123

• 17 · Accounts payable and accrued expenses

  beginning of year $4,272,179 · end of year $3,113,218

• 19 · Deferred revenue

  beginning of year $3,762,266 · end of year $4,191,921

• 20 · Tax-exempt bond liabilities

  beginning of year $21,010,162 · end of year $19,557,757

• 21 · Escrow or custodial account liability

  beginning of year $112,698 · end of year $107,860

• 25 · Other liabilities

  beginning of year $1,495,955 · end of year $1,269,927

• 27 · Net assets without donor restrictions

  beginning of year $53,481,564 · end of year $55,223,648

• 28 · Net assets with donor restrictions

  beginning of year $69,448,071 · end of year $70,769,619

The filer's explanations (Part III)

PART I, LINE 1A

THE PRESIDENT HAS A COUNTRY CLUB MEMBERSHIP EXCLUSIVELY FOR BUSINESS PURPOSES, SUCH AS MEETINGS WITH FRIENDS OF THE UNIVERSITY. THEREFORE, THE VALUE OF THE MEMBERSHIP HAS NOT BEEN TREATED AS A TAXABLE BENEFIT.

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUSTS (19)

  T · INVESTMENTS · NC