Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: OTHER TENANT CHARGES

  total $6,166,191 · related or exempt $6,166,191

• 3 · Investment income

  total $543,665 · excluded $543,665

• 11a · Other revenue: REFUNDS/REIMBURSEMENTS

  total $1,171 · excluded $1,171

• 11e · Other revenue, total

  $1,171

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $379,686 · program services $227,812 · management and general $151,874

• 7 · Other salaries and wages

  total $2,815,332 · program services $2,786,816 · management and general $28,516

• 8 · Pension plan contributions

  total $64,104 · program services $64,104

• 9 · Other employee benefits

  total $220,158 · program services $220,158

• 10 · Payroll taxes

  total $142,768 · program services $132,158 · management and general $10,610

• 11b · Fees: legal

  total $8,296 · management and general $8,296

• 11c · Fees: accounting

  total $98,669 · management and general $98,669

• 11g · Fees: other

  total $96,204 · program services $26,559 · management and general $69,645

• 13 · Office expenses

  total $139,413 · program services $132,684 · management and general $6,729

• 14 · Information technology

  total $69,767 · program services $67,785 · management and general $1,982

• 16 · Occupancy

  total $334,004 · program services $334,004

• 17 · Travel

  total $7,441 · program services $7,277 · management and general $164

• 19 · Conferences, conventions and meetings

  total $6,416 · program services $4,812 · management and general $1,604

• 20 · Interest

  total $504,340 · program services $504,340

• 22 · Depreciation, depletion and amortization

  total $183,921 · program services $183,921

• 23 · Insurance

  total $189,199 · program services $153,536 · management and general $35,663

• 24a · Other expenses: MAINTENANCE & REPAIRS

  total $766,193 · program services $766,193

• 24b · Other expenses: SUPPLIES

  total $71,533 · program services $53,641 · management and general $17,892

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $206,044 · end of year $168,405

• 2 · Savings and temporary cash investments

  beginning of year $2,471,584 · end of year $3,158,266

• 4 · Accounts receivable

  beginning of year $17,355,216 · end of year $16,820,095

• 9 · Prepaid expenses and deferred charges

  beginning of year $109,525 · end of year $40,047

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

  $2,955,244

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

  $1,861,944

• 10c · Land, buildings and equipment, net

  beginning of year $1,220,723 · end of year $1,093,300

• 11 · Investments: publicly traded securities

  end of year $241,727

• 17 · Accounts payable and accrued expenses

  beginning of year $375,420 · end of year $263,247

• 20 · Tax-exempt bond liabilities

  beginning of year $11,054,477 · end of year $10,809,306

• 23 · Secured mortgages and notes payable

  beginning of year $5,923,405 · end of year $5,805,410

• 24 · Unsecured notes and loans payable

  beginning of year $225,178 · end of year $200,917

• 27 · Net assets without donor restrictions

  beginning of year $3,784,612 · end of year $4,442,960

The filer's explanations (Part III)

PART I, LINE 1A

DANIEL KLINGEBIEL, EXECUTIVE DIRECTOR, RECEIVES A GROSS-UP PAYMENT FOR A FIXED TUITION BENEFIT, CALCULATED ANNUALLY PER THE PROVISIONS IN HIS EMPLOYMENT AGREEMENT.

PART I, LINE 3

WHEN HIRING THE EXECUTIVE DIRECTOR AND OTHER KEY EMPLOYEES, AND THEREAFTER ON AN ANNUAL BASIS, OR OTHER PERIOD CONSISTENT WITH THE TERM OF THE EMPLOYMENT CONTRACT, THE BOARD WILL PERFORM A THOROUGH REVIEW TO DETERMINE SUITABLE COMPENSATION. THIS PROCESS IS TO INCLUDE A REVIEW OF COMPARABILITY DATA BY A COMPENSATION COMMITTEE ESTABLISHED BY THE BOARD OR THE CHAIR OF THE BOARD OR AN INDEPENDENT COMPENSATION CONSULTANT HIRED BY THE BOARD. COMPARABILITY DATA CAN INCLUDE COMPENSATION SURVEYS, WRITTEN EMPLOYMENT CONTRACTS AND FORMS 990 OF SIMILAR ORGANIZATIONS. THE BOARD WILL RETAIN DOCUMENTATION OF THE DELIBERATION AND FINAL DECISION.

PART I, LINE 7

DANIEL KLINGEBIEL, EXECUTIVE DIRECTOR, RECEIVES A NON-FIXED, PERFORMANCE-BASED BONUS PAYMENT. BONUSES ARE BASED ON ANNUAL GOALS SET BY THE PRESIDENT AND TREASURER OF NCIS. THERE IS A PREDETERMINED METHOD OF CALCULATION BASED ON DEFINED PERFORMANCE FACTORS. FACTORS ARE BASED ON INPUT FROM THE FAIS HEAD OF SCHOOL, THE FAIS CFO, AND THE BOARD.