Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,174

• 1e · Government grants (contributions)

  $596,735

• 1f · All other contributions, gifts and grants

  $3,812,669

• 1g · Noncash contributions included above

  $269,788

• 2a · Program service revenue: TUITION AND FEES

  total $32,655,690 · related or exempt $32,655,690

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $8,012,141 · related or exempt $8,012,141

• 2c · Program service revenue: OTHER SOURCES

  total $1,360,578 · related or exempt $1,360,578

• 3 · Investment income

  total $307,450 · excluded $307,450

• 6a · Gross rents

  real property $148,319

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $148,319

• 6d · Net rental income or loss

  total $148,319 · unrelated business $148,319

• 7a · Gross sales of assets other than inventory

  securities $208,940

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

  securities $0 · other assets $14,098

• 7c · Gain or loss

  securities $208,940 · other assets -$14,098

• 7d · Net gain or loss

  total $194,842 · related or exempt -$14,098 · excluded $208,940

• 8a · Fundraising events: gross income

  $42,230

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

  $1,174

• 8b · Fundraising events: direct expenses

  $9,642

• 8c · Net income from fundraising events

  total $32,588 · excluded $32,588

• 11a · Other revenue: CENTER FOR THE PERFORMING ARTS -

  total $270,568 · unrelated business $270,568

• 11e · Other revenue, total

  $270,568

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $18,810,863 · program services $18,810,863

• 5 · Compensation of officers, directors and key employees

  total $934,266 · program services $384,418 · management and general $435,506 · fundraising $114,342

• 7 · Other salaries and wages

  total $10,930,552 · program services $9,615,945 · management and general $1,023,570 · fundraising $291,037

• 8 · Pension plan contributions

  total $494,801 · program services $404,472 · management and general $90,329

• 9 · Other employee benefits

  total $1,960,498 · program services $1,510,029 · management and general $450,469

• 10 · Payroll taxes

  total $890,758 · program services $781,979 · management and general $108,779

• 11b · Fees: legal

  total $24,753 · management and general $24,753

• 11c · Fees: accounting

  total $97,602 · management and general $97,602

• 11f · Fees: investment management

  total $39,306 · management and general $39,306

• 11g · Fees: other

  total $557,265 · program services $385,364 · management and general $171,901

• 12 · Advertising and promotion

  total $541,303 · program services $108,583 · management and general $432,720

• 13 · Office expenses

  total $166,580 · program services $142,521 · management and general $11,281 · fundraising $12,778

• 14 · Information technology

  total $841,181 · program services $45,423 · management and general $795,758

• 16 · Occupancy

  total $3,864,771 · program services $3,538,013 · management and general $326,758

• 17 · Travel

  total $490,443 · program services $468,327 · management and general $20,878 · fundraising $1,238

• 20 · Interest

  total $554,791 · program services $404,997 · management and general $149,794

• 22 · Depreciation, depletion and amortization

  total $2,145,141 · program services $1,771,887 · management and general $373,254

• 23 · Insurance

  total $452,713 · program services $189,671 · management and general $263,042

• 24a · Other expenses: OTHER EXPENSES

  total $2,823,975 · program services $2,142,594 · management and general $609,586 · fundraising $71,795

• 24b · Other expenses: FOOD SERVICES

  total $1,801,387 · program services $1,801,387

• 24c · Other expenses: BAD DEBT EXPENSE

  total $624,417 · management and general $624,417

• 24d · Other expenses: UNIVERSITY STORE

  total $534,706 · program services $534,706

• 24e · All other expenses

  total $890,359 · program services $547,968 · management and general $340,777 · fundraising $1,614

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $533,149 · end of year $2,154,119

• 3 · Pledges and grants receivable

  beginning of year $614,168 · end of year $752,350

• 4 · Accounts receivable

  beginning of year $970,512 · end of year $1,625,033

• 7 · Other notes and loans receivable

  beginning of year $71,914 · end of year $63,312

• 8 · Inventories for sale or use

  beginning of year $104,829 · end of year $104,829

• 9 · Prepaid expenses and deferred charges

  beginning of year $650,874 · end of year $651,951

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

  $72,929,357

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

  $31,270,563

• 10c · Land, buildings and equipment, net

  beginning of year $42,230,954 · end of year $41,658,794

• 11 · Investments: publicly traded securities

  beginning of year $10,224,396 · end of year $10,986,187

• 12 · Investments: other securities

  beginning of year $3,802,303 · end of year $4,115,413

• 15 · Other assets

  beginning of year $1,473,102 · end of year $3,952,059

• 17 · Accounts payable and accrued expenses

  beginning of year $3,098,928 · end of year $2,969,260

• 19 · Deferred revenue

  beginning of year $965,853 · end of year $2,346,009

• 23 · Secured mortgages and notes payable

  beginning of year $10,866,189 · end of year $11,329,919

• 24 · Unsecured notes and loans payable

  end of year $3,335,000

• 25 · Other liabilities

  beginning of year $1,199,527 · end of year $3,486,537

• 27 · Net assets without donor restrictions

  beginning of year $30,690,111 · end of year $29,069,033

• 28 · Net assets with donor restrictions

  beginning of year $13,855,593 · end of year $13,528,289

The filer's explanations (Part III)

PART I, LINE 1A

THE UNIVERSITY PROVIDES A RESIDENCE AND PAYS COMPENSATION TO THE PRESIDENT OF THE UNIVERSITY. THE RESIDENCE IS ON CAMPUS AND THE PRESIDENT IS REQUIRED TO LIVE AT THE RESIDENCE.