Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $5,411,931

• 1g · Noncash contributions included above

  $218,125

• 2a · Program service revenue: TUITION AND FEES

  total $20,679,400 · related or exempt $20,679,400

• 2b · Program service revenue: SCHOOL ACTIVITY REVENUE

  total $744,006 · related or exempt $744,006

• 2c · Program service revenue: SUMMER PROGRAM REVENUE

  total $587,736 · related or exempt $587,736

• 3 · Investment income

  total $989,963 · excluded $989,963

• 7a · Gross sales of assets other than inventory

  securities $2,212,907 · other assets $104,000

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

  securities $2,227,127 · other assets $59,595

• 7c · Gain or loss

  securities -$14,220 · other assets $44,405

• 7d · Net gain or loss

  total $30,185 · excluded $30,185

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $4,593,872 · program services $4,593,872

• 5 · Compensation of officers, directors and key employees

  total $1,480,864 · program services $699,219 · management and general $528,979 · fundraising $252,666

• 7 · Other salaries and wages

  total $7,788,773 · program services $5,741,839 · management and general $1,051,994 · fundraising $994,940

• 8 · Pension plan contributions

  total $654,176 · program services $512,824 · management and general $70,148 · fundraising $71,204

• 9 · Other employee benefits

  total $2,297,173 · program services $1,736,848 · management and general $294,991 · fundraising $265,334

• 10 · Payroll taxes

  total $636,226 · program services $466,613 · management and general $93,008 · fundraising $76,605

• 11b · Fees: legal

  total $17,606 · management and general $17,606

• 11c · Fees: accounting

  total $64,300 · management and general $64,300

• 11f · Fees: investment management

  total $593,349 · management and general $593,349

• 12 · Advertising and promotion

  total $235,049 · program services $16,883 · management and general $109,083 · fundraising $109,083

• 13 · Office expenses

  total $304,844 · program services $80,507 · management and general $28,500 · fundraising $195,837

• 14 · Information technology

  total $383,573 · program services $356,607 · management and general $21,289 · fundraising $5,677

• 16 · Occupancy

  total $2,760,250 · program services $2,566,199 · management and general $153,198 · fundraising $40,853

• 17 · Travel

  total $293,549 · program services $86,094 · management and general $71,311 · fundraising $136,144

• 19 · Conferences, conventions and meetings

  total $55,294 · program services $11,059 · management and general $41,470 · fundraising $2,765

• 20 · Interest

  total $396,565 · program services $366,426 · management and general $23,794 · fundraising $6,345

• 22 · Depreciation, depletion and amortization

  total $3,098,336 · program services $2,862,863 · management and general $185,900 · fundraising $49,573

• 24a · Other expenses: RESIDENTIAL SERVICES

  total $775,476 · program services $775,476

• 24b · Other expenses: ATHLETICS

  total $447,750 · program services $447,750

• 24c · Other expenses: SUPPLIES

  total $297,802 · program services $87,341 · management and general $72,344 · fundraising $138,117

• 24d · Other expenses: BAD DEBT

  total $244,498 · program services $244,498

• 24e · All other expenses

  total $523,713 · program services $523,713

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,000 · end of year $2,200

• 2 · Savings and temporary cash investments

  beginning of year $13,913,045 · end of year $12,060,971

• 3 · Pledges and grants receivable

  beginning of year $5,430,180 · end of year $3,784,865

• 4 · Accounts receivable

  beginning of year $121,838 · end of year $48,514

• 8 · Inventories for sale or use

  beginning of year $141,083 · end of year $150,010

• 9 · Prepaid expenses and deferred charges

  beginning of year $162,561 · end of year $130,930

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

  $97,884,600

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

  $31,829,957

• 10c · Land, buildings and equipment, net

  beginning of year $58,762,803 · end of year $66,054,643

• 11 · Investments: publicly traded securities

  beginning of year $61,212,737 · end of year $66,832,907

• 12 · Investments: other securities

  beginning of year $2,897,686 · end of year $3,093,346

• 17 · Accounts payable and accrued expenses

  beginning of year $1,757,944 · end of year $1,025,643

• 19 · Deferred revenue

  beginning of year $5,476,807 · end of year $5,539,737

• 23 · Secured mortgages and notes payable

  beginning of year $10,346,848 · end of year $14,613,460

• 25 · Other liabilities

  beginning of year $30,000 · end of year $60,000

• 27 · Net assets without donor restrictions

  beginning of year $69,138,232 · end of year $73,771,670

• 28 · Net assets with donor restrictions

  beginning of year $55,893,102 · end of year $57,147,876

The filer's explanations (Part III)

PART I, LINE 1A

ON CAMPUS HOUSING IS PROVIDED FOR THE HEAD OF SCHOOL AND OTHER FACULTY MEMBERS WHO ALL HAVE IN-HOUSE RESIDENT RESPONSIBILITIES AND FOR THE CONVENIENCE OF HOLDERNESS SCHOOL.