Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $33,105

• 1e · Government grants (contributions)

  $60,000

• 1f · All other contributions, gifts and grants

  $1,888,045

• 1g · Noncash contributions included above

  $129,396

• 2a · Program service revenue: TUITION & FEES

  total $20,048,704 · related or exempt $20,048,704

• 2b · Program service revenue: AUXILLARY SERVICES

  total $1,878,308 · related or exempt $1,878,308

• 3 · Investment income

  total $375,586 · excluded $375,586

• 7a · Gross sales of assets other than inventory

  securities $1,441,975

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

  securities $1,524,123

• 7c · Gain or loss

  securities -$82,148

• 7d · Net gain or loss

  total -$82,148 · excluded -$82,148

• 8a · Fundraising events: gross income

  $11,315

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

  $33,105

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $11,315 · excluded $11,315

• 11a · Other revenue: OTHER INCOME

  total $48,050 · related or exempt $48,050

• 11e · Other revenue, total

  $48,050

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $2,199,177 · program services $2,199,177

• 5 · Compensation of officers, directors and key employees

  total $660,944 · program services $66,094 · management and general $561,803 · fundraising $33,047

• 7 · Other salaries and wages

  total $12,195,903 · program services $10,050,778 · management and general $1,791,306 · fundraising $353,819

• 8 · Pension plan contributions

  total $539,544 · program services $459,037 · management and general $65,271 · fundraising $15,236

• 9 · Other employee benefits

  total $1,563,940 · program services $1,242,752 · management and general $274,480 · fundraising $46,708

• 10 · Payroll taxes

  total $912,025 · program services $720,500 · management and general $164,164 · fundraising $27,361

• 11b · Fees: legal

  total $32,162 · program services $16,081 · management and general $16,081

• 11c · Fees: accounting

  total $39,104 · program services $19,552 · management and general $19,552

• 11f · Fees: investment management

  total $20,967 · management and general $20,967

• 11g · Fees: other

  total $331,986 · program services $20,605 · management and general $20,605 · fundraising $290,776

• 13 · Office expenses

  total $488,282 · program services $244,141 · management and general $244,141

• 14 · Information technology

  total $179,504 · program services $138,393 · management and general $39,980 · fundraising $1,131

• 16 · Occupancy

  total $832,681 · program services $774,393 · management and general $49,961 · fundraising $8,327

• 19 · Conferences, conventions and meetings

  total $71,876 · program services $35,938 · management and general $35,938

• 20 · Interest

  total $966,677 · program services $899,010 · management and general $58,000 · fundraising $9,667

• 22 · Depreciation, depletion and amortization

  total $1,783,528 · program services $1,658,681 · management and general $107,012 · fundraising $17,835

• 23 · Insurance

  total $624,354 · program services $312,177 · management and general $312,177

• 24a · Other expenses: CLASSROOM AND PROGRAM

  total $1,630,903 · program services $1,630,903

• 24b · Other expenses: DINING

  total $786,065 · program services $786,065

• 24c · Other expenses: BAD DEBTS

  total $165,096 · management and general $165,096

• 24d · Other expenses: OTHER EXPENSES

  total $92,200 · program services $46,100 · management and general $46,100

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $253,307 · end of year $250,000

• 2 · Savings and temporary cash investments

  beginning of year $4,414,307 · end of year $893,206

• 3 · Pledges and grants receivable

  beginning of year $335,804 · end of year $183,545

• 4 · Accounts receivable

  beginning of year $304,433 · end of year $178,607

• 9 · Prepaid expenses and deferred charges

  beginning of year $154,952 · end of year $267,936

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

  $65,084,571

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

  $26,429,190

• 10c · Land, buildings and equipment, net

  beginning of year $39,973,995 · end of year $38,655,381

• 11 · Investments: publicly traded securities

  beginning of year $7,406,186 · end of year $10,824,037

• 12 · Investments: other securities

  beginning of year $250,000

• 15 · Other assets

  beginning of year $2,162,574 · end of year $13,131,017

• 17 · Accounts payable and accrued expenses

  beginning of year $909,707 · end of year $852,085

• 19 · Deferred revenue

  beginning of year $8,017,351 · end of year $8,353,669

• 20 · Tax-exempt bond liabilities

  beginning of year $17,542,446 · end of year $12,985,446

• 21 · Escrow or custodial account liability

  beginning of year $91,849

• 23 · Secured mortgages and notes payable

  end of year $3,900,000

• 25 · Other liabilities

  beginning of year $0 · end of year $10,968,444

• 27 · Net assets without donor restrictions

  beginning of year $19,963,384 · end of year $20,767,498

• 28 · Net assets with donor restrictions

  beginning of year $8,730,821 · end of year $6,556,587

The filer's explanations (Part III)

PART I, LINE 4A

MATTHEW SEMO RECEIVED A $60,000 SEVERANCE PAYMENT.