Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $16,251,818

• 1f · All other contributions, gifts and grants

  $1,234,052

• 1g · Noncash contributions included above

  $122,886

• 2a · Program service revenue: TUITION AND FEES

  total $32,731,279 · related or exempt $32,731,279

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $5,133,951 · related or exempt $5,133,951

• 3 · Investment income

  total $822,542 · excluded $822,542

• 6a · Gross rents

  real property $15,350

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $15,350

• 6d · Net rental income or loss

  total $15,350 · excluded $15,350

• 7a · Gross sales of assets other than inventory

  securities $622,575

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

  securities $609,359

• 7c · Gain or loss

  securities $13,216

• 7d · Net gain or loss

  total $13,216 · excluded $13,216

• 11a · Other revenue: INSURANCE CLAIM

  total $175,000 · excluded $175,000

• 11b · Other revenue: PARKING

  total $26,775 · excluded $26,775

• 11c · Other revenue: VENDING

  total $25,808 · excluded $25,808

• 11d · All other revenue

  total $136,171 · excluded $136,171

• 11e · Other revenue, total

  $363,754

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $15,228,404 · program services $15,228,404

• 5 · Compensation of officers, directors and key employees

  total $2,130,271 · program services $772,743 · management and general $942,950 · fundraising $414,578

• 7 · Other salaries and wages

  total $16,042,072 · program services $12,693,347 · management and general $3,114,773 · fundraising $233,952

• 8 · Pension plan contributions

  total $1,089,925 · program services $837,725 · management and general $233,260 · fundraising $18,940

• 9 · Other employee benefits

  total $2,401,801 · program services $1,490,360 · management and general $819,520 · fundraising $91,921

• 10 · Payroll taxes

  total $1,380,742 · program services $1,024,939 · management and general $310,077 · fundraising $45,726

• 11b · Fees: legal

  total $810,461 · management and general $810,461

• 11c · Fees: accounting

  total $292,642 · management and general $292,642

• 11e · Fees: professional fundraising services

  total $15,477 · fundraising $15,477

• 11f · Fees: investment management

  total $37,544 · management and general $37,544

• 11g · Fees: other

  total $3,322,524 · program services $1,671,503 · management and general $1,592,061 · fundraising $58,960

• 12 · Advertising and promotion

  total $13,442 · program services $9,298 · management and general $4,144

• 13 · Office expenses

  total $619,430 · program services $487,848 · management and general $99,336 · fundraising $32,246

• 14 · Information technology

  total $1,324,710 · program services $1,192,404 · management and general $118,689 · fundraising $13,617

• 16 · Occupancy

  total $1,613,845 · program services $1,501,250 · management and general $104,045 · fundraising $8,550

• 17 · Travel

  total $383,145 · program services $364,828 · management and general $17,970 · fundraising $347

• 19 · Conferences, conventions and meetings

  total $585,208 · program services $471,602 · management and general $67,595 · fundraising $46,011

• 20 · Interest

  total $1,246,406 · program services $1,128,954 · management and general $107,651 · fundraising $9,801

• 22 · Depreciation, depletion and amortization

  total $3,730,801 · program services $3,379,238 · management and general $322,227 · fundraising $29,336

• 23 · Insurance

  total $764,642 · program services $711,294 · management and general $49,297 · fundraising $4,051

• 24a · Other expenses: STUDENT FOOD SERVICES

  total $1,473,148 · program services $1,473,148

• 24b · Other expenses: BAD DEBT EXPENSE

  total $705,260 · program services $705,260

• 24c · Other expenses: EQUIPMENT

  total $538,056 · program services $120,932 · management and general $417,124

• 24d · Other expenses: ADMIN. EXPENSES

  total $534,717 · program services $498,348 · management and general $23,395 · fundraising $12,974

• 24e · All other expenses

  total $239,318 · program services $117,532 · management and general $114,233 · fundraising $7,553

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $140,521 · end of year $1,272,788

• 2 · Savings and temporary cash investments

  beginning of year $14,021,472 · end of year $13,478,578

• 3 · Pledges and grants receivable

  beginning of year $1,064,487 · end of year $911,063

• 4 · Accounts receivable

  beginning of year $245,301 · end of year $172,499

• 9 · Prepaid expenses and deferred charges

  beginning of year $503,267 · end of year $491,825

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

  $124,316,368

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

  $64,366,014

• 10c · Land, buildings and equipment, net

  beginning of year $62,546,034 · end of year $59,950,354

• 11 · Investments: publicly traded securities

  beginning of year $15,363,493 · end of year $16,135,455

• 17 · Accounts payable and accrued expenses

  beginning of year $2,099,534 · end of year $1,539,708

• 19 · Deferred revenue

  beginning of year $596,123 · end of year $303,785

• 23 · Secured mortgages and notes payable

  beginning of year $32,511,684 · end of year $31,025,456

• 25 · Other liabilities

  beginning of year $481,639 · end of year $1,187

• 27 · Net assets without donor restrictions

  beginning of year $42,943,288 · end of year $44,167,647

• 28 · Net assets with donor restrictions

  beginning of year $15,252,307 · end of year $15,374,779

The filer's explanations (Part III)

PART I, LINE 1A

EFFECTIVE 08/01/2019, THE COLLEGE NO LONGER REQUIRES THE PRESIDENT TO MAINTAIN RESIDENCE ON CAMPUS. THE PRESIDENT'S COMPENSATION PACKAGE INCLUDES A TAXABLE HOUSING ALLOWANCE.