Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $139,537

• 1e · Government grants (contributions)

  $2,496,721

• 1f · All other contributions, gifts and grants

  $1,746,905

• 2a · Program service revenue: Tuition and Fees

  total $24,980,351 · related or exempt $24,980,351

• 2b · Program service revenue: Auxiliary Services

  total $5,374,480 · related or exempt $5,374,480

• 2f · All other program service revenue

  total $1,106,483 · related or exempt $1,106,483 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $226,400 · excluded $226,400

• 6a · Gross rents

  real property $173,883

• 6c · Rental income or loss

  real property $173,883 · personal property $0

• 6d · Net rental income or loss

  total $173,883 · excluded $173,883

• 7a · Gross sales of assets other than inventory

  securities $7,445,223

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

  securities $7,413,236

• 7c · Gain or loss

  securities $31,987 · other assets $0

• 7d · Net gain or loss

  total $31,987 · excluded $31,987

• 8a · Fundraising events: gross income

  $9,095

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

  $139,537

• 8b · Fundraising events: direct expenses

  $17,166

• 8c · Net income from fundraising events

  total -$8,071 · excluded -$8,071

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $14,561,000 · program services $14,561,000

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $944,649 · management and general $808,911 · fundraising $135,738

• 6 · Compensation of disqualified persons

  total $35,318 · program services $35,318

• 7 · Other salaries and wages

  total $8,568,898 · program services $6,743,046 · management and general $1,654,563 · fundraising $171,289

• 8 · Pension plan contributions

  total $58,714 · program services $47,165 · management and general $9,459 · fundraising $2,090

• 9 · Other employee benefits

  total $791,714 · program services $682,474 · management and general $86,888 · fundraising $22,352

• 10 · Payroll taxes

  total $733,901 · program services $529,877 · management and general $180,540 · fundraising $23,484

• 11b · Fees: legal

  total $57,525 · management and general $57,525

• 11c · Fees: accounting

  total $116,500 · management and general $116,500

• 11f · Fees: investment management

  total $14,997 · management and general $9,132 · fundraising $5,865

• 11g · Fees: other

  total $3,648,193 · program services $2,577,674 · management and general $948,558 · fundraising $121,961

• 12 · Advertising and promotion

  total $234,972 · program services $97,595 · management and general $137,377

• 13 · Office expenses

  total $305,835 · program services $75,236 · management and general $194,769 · fundraising $35,830

• 14 · Information technology

  total $548,362 · program services $45,342 · management and general $489,624 · fundraising $13,396

• 16 · Occupancy

  total $1,145,930 · program services $945,392 · management and general $200,538

• 17 · Travel

  total $902,071 · program services $800,991 · management and general $69,272 · fundraising $31,808

• 19 · Conferences, conventions and meetings

  total $20,634 · program services $19,740 · management and general $854 · fundraising $40

• 20 · Interest

  total $413,747 · program services $341,341 · management and general $72,406

• 22 · Depreciation, depletion and amortization

  total $1,092,194 · program services $901,060 · management and general $191,134

• 23 · Insurance

  total $157,346 · program services $28,720 · management and general $128,626

• 24a · Other expenses: Bad Debt

  total $227,262 · program services $227,262

• 24b · Other expenses: Institutional Material

  total $181,508 · program services $181,508

• 24c · Other expenses: Collection Expense

  total $16,337 · program services $16,337

• 24d · Other expenses: Institutional/Academic

  total $8,277 · program services $8,277

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $489,984 · end of year $114,818

• 2 · Savings and temporary cash investments

  beginning of year $2,263,614 · end of year $3,879,022

• 3 · Pledges and grants receivable

  beginning of year $240,000 · end of year $2,496,721

• 4 · Accounts receivable

  beginning of year $654,612 · end of year $1,639,560

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  beginning of year $200,000 · end of year $99,421

• 8 · Inventories for sale or use

  beginning of year $34,349 · end of year $17,112

• 9 · Prepaid expenses and deferred charges

  beginning of year $60,877 · end of year $99,418

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

  $34,434,882

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

  $18,732,144

• 10c · Land, buildings and equipment, net

  beginning of year $16,456,167 · end of year $15,702,738

• 11 · Investments: publicly traded securities

  beginning of year $4,651,096 · end of year $868,836

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $523,757 · end of year $1,440

• 15 · Other assets

  beginning of year $0 · end of year $347,442

• 17 · Accounts payable and accrued expenses

  beginning of year $2,040,216 · end of year $404,986

• 19 · Deferred revenue

  beginning of year $624,352 · end of year $199,975

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $5,132,543 · end of year $5,449,379

• 24 · Unsecured notes and loans payable

  beginning of year $1,282,758 · end of year $1,210,000

• 25 · Other liabilities

  beginning of year $91,781 · end of year $116,590

• 27 · Net assets without donor restrictions

  beginning of year $14,311,431 · end of year $16,167,022

• 28 · Net assets with donor restrictions

  beginning of year $2,091,375 · end of year $1,718,576

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

A taxable housing allowance was provided for the University president in calendar year 2022.

Schedule J, Part I, Line 4a Severance or change-of-control payment

Sheldon Nord - $92,064.59