Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $2,886,444

• 1g · Noncash contributions included above

  $415,477

• 2a · Program service revenue: TUITION AND FEES

  total $23,287,298 · related or exempt $23,287,298

• 2b · Program service revenue: ROOM AND BOARD

  total $6,656,735 · related or exempt $6,656,735

• 2c · Program service revenue: AUXILIARY ENTERPRISES

  total $575,260 · related or exempt $575,260

• 2d · Program service revenue: OTHER SOURCES

  total $91,910 · related or exempt $91,910

• 3 · Investment income

  total $2,497,605 · excluded $2,497,605

• 6a · Gross rents

  real property $1,058,602

• 6b · Less rental expenses

  real property $499,726

• 6c · Rental income or loss

  real property $558,876

• 6d · Net rental income or loss

  total $558,876 · excluded $558,876

• 7a · Gross sales of assets other than inventory

  securities $16,421,690

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

  securities $16,638,100 · other assets $159,473

• 7c · Gain or loss

  securities -$216,410 · other assets -$159,473

• 7d · Net gain or loss

  total -$375,883 · excluded -$375,883

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $11,676,517 · program services $11,676,517

• 5 · Compensation of officers, directors and key employees

  total $820,955 · program services $187,050 · management and general $86,723 · fundraising $547,182

• 7 · Other salaries and wages

  total $10,134,992 · program services $8,918,793 · management and general $1,013,499 · fundraising $202,700

• 8 · Pension plan contributions

  total $472,706 · program services $415,981 · management and general $47,271 · fundraising $9,454

• 9 · Other employee benefits

  total $1,136,330 · program services $999,970 · management and general $113,633 · fundraising $22,727

• 10 · Payroll taxes

  total $784,990 · program services $690,791 · management and general $78,499 · fundraising $15,700

• 11b · Fees: legal

  total $108,457 · management and general $108,457

• 11c · Fees: accounting

  total $79,925 · management and general $79,925

• 11f · Fees: investment management

  total $4,647 · management and general $4,647

• 11g · Fees: other

  total $2,722,148 · program services $2,170,001 · management and general $528,444 · fundraising $23,703

• 12 · Advertising and promotion

  total $2,633 · program services $2,370 · management and general $263

• 13 · Office expenses

  total $1,197,054 · program services $1,077,349 · management and general $119,705

• 14 · Information technology

  total $176,056 · management and general $176,056

• 16 · Occupancy

  total $1,006,700 · program services $906,030 · management and general $100,670

• 17 · Travel

  total $1,503,231 · program services $1,352,908 · management and general $150,323

• 19 · Conferences, conventions and meetings

  total $46,967 · program services $39,922 · management and general $4,697 · fundraising $2,348

• 20 · Interest

  total $610,053 · program services $549,048 · management and general $61,005

• 22 · Depreciation, depletion and amortization

  total $2,337,372 · program services $2,103,635 · management and general $233,737

• 23 · Insurance

  total $557,951 · program services $502,156 · management and general $55,795

• 24a · Other expenses: STUDENT PROGRAM EXPENSE

  total $816,270 · program services $816,270

• 24b · Other expenses: ALL OTHER EXPENSES

  total $703,984 · program services $633,586 · management and general $70,398

• 24c · Other expenses: BAD DEBT EXPENSE

  total $161,544 · program services $161,544

• 24d · Other expenses: MISCELLANEOUS

  total $66,542 · program services $56,561 · management and general $6,654 · fundraising $3,327

• 24e · All other expenses

  total $22,769 · program services $19,354 · management and general $2,277 · fundraising $1,138

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $12,678,352 · end of year $7,295,757

• 2 · Savings and temporary cash investments

  beginning of year $50,109 · end of year $37,082

• 3 · Pledges and grants receivable

  beginning of year $2,270,031 · end of year $2,683,856

• 4 · Accounts receivable

  beginning of year $579,093 · end of year $1,221,388

• 9 · Prepaid expenses and deferred charges

  beginning of year $763,740 · end of year $1,088,691

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

  $82,179,477

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

  $40,431,150

• 10c · Land, buildings and equipment, net

  beginning of year $39,427,144 · end of year $41,748,327

• 11 · Investments: publicly traded securities

  beginning of year $9,187,691 · end of year $12,988,239

• 15 · Other assets

  beginning of year $25,733,838 · end of year $27,725,858

• 17 · Accounts payable and accrued expenses

  beginning of year $3,102,572 · end of year $3,371,433

• 19 · Deferred revenue

  beginning of year $69,223 · end of year $63,722

• 20 · Tax-exempt bond liabilities

  beginning of year $18,372,219 · end of year $17,488,578

• 23 · Secured mortgages and notes payable

  beginning of year $1,946,472 · end of year $3,909,590

• 25 · Other liabilities

  beginning of year $163,849 · end of year $122,163

• 27 · Net assets without donor restrictions

  beginning of year $10,699,411 · end of year $11,743,445

• 28 · Net assets with donor restrictions

  beginning of year $56,336,252 · end of year $58,090,267

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR SPOUSE - PROVIDED TO THE PRESIDENT OF THE COLLEGE - NOT TREATED AS TAXABLE COMPENSATION RESIDENCE FOR PERSONAL USE - PROVIDED TO THE PRESIDENT OF THE COLLEGE - NOT TREATED AS TAXABLE COMPENSATION SOCIAL CLUB DUES - PROVIDED TO THE PRESIDENT OF THE COLLEGE - NOT TREATED AS TAXABLE COMPENSATION

PART I, LINE 4B

THE REVEREND J. CAMERON WEST, PRESIDENT OF THE COLLEGE, PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE PLAN IS STRUCTURED AS A RABBI TRUST WITH SUBSTANTIAL RISK OF FORFEITURE AND PAID $55,000 PER YEAR FOR 5 YEARS. NO PAYMENTS WERE MADE FOR THE FISCAL YEAR COVERED BY THIS RETURN.