Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $476,933

• 1f · All other contributions, gifts and grants

  $13,777,059

• 1g · Noncash contributions included above

  $5,567,972

• 2a · Program service revenue: TUITION & FEES

  total $71,361,422 · related or exempt $71,361,422

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $15,973,885 · related or exempt $15,607,010 · unrelated business $366,875

• 2c · Program service revenue: CAMPUS GROUPS

  total $2,109,766 · related or exempt $2,109,766

• 2d · Program service revenue: OTHER PROGRAMS

  total $1,151,348 · related or exempt $989,018 · excluded $162,330

• 2e · Program service revenue: PRINT CENTER INCOME

  total $40,263 · related or exempt $40,263

• 3 · Investment income

  total $2,592,070 · unrelated business -$46,058 · excluded $2,638,128

• 4 · Income from investment of tax-exempt bond proceeds

  total $175,283 · excluded $175,283

• 6a · Gross rents

  real property $182,846

• 6b · Less rental expenses

  real property $97,814

• 6c · Rental income or loss

  real property $85,032

• 6d · Net rental income or loss

  total $85,032 · excluded $85,032

• 7a · Gross sales of assets other than inventory

  securities $35,610,020

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

  securities $34,630,327 · other assets $184,576

• 7c · Gain or loss

  securities $979,693 · other assets -$184,576

• 7d · Net gain or loss

  total $795,117 · excluded $795,117

• 11a · Other revenue: CROP SHARE INCOME

  total $17,545 · unrelated business $17,545

• 11b · Other revenue: STUDENT CENTER INCOME

  total $3,292 · unrelated business $3,292

• 11e · Other revenue, total

  $20,837

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $47,919,970 · program services $47,919,970

• 5 · Compensation of officers, directors and key employees

  total $1,220,280 · program services $338,552 · management and general $637,934 · fundraising $243,794

• 7 · Other salaries and wages

  total $21,585,567 · program services $19,342,987 · management and general $1,593,585 · fundraising $648,995

• 8 · Pension plan contributions

  total $1,060,932 · program services $940,719 · management and general $78,325 · fundraising $41,888

• 9 · Other employee benefits

  total $4,132,608 · program services $3,666,015 · management and general $305,096 · fundraising $161,497

• 10 · Payroll taxes

  total $1,495,834 · program services $1,325,013 · management and general $110,432 · fundraising $60,389

• 11b · Fees: legal

  total $65,400 · management and general $63,600 · fundraising $1,800

• 11c · Fees: accounting

  total $94,173 · management and general $94,173

• 11d · Fees: lobbying

  total $5,352 · management and general $5,352

• 11f · Fees: investment management

  total $840,000 · management and general $840,000

• 11g · Fees: other

  total $1,459,289 · program services $1,275,923 · management and general $107,734 · fundraising $75,632

• 12 · Advertising and promotion

  total $532,310 · program services $493,011 · management and general $39,299

• 13 · Office expenses

  total $815,750 · program services $699,073 · management and general $60,223 · fundraising $56,454

• 14 · Information technology

  total $1,590,425 · program services $1,192,819 · management and general $397,606

• 16 · Occupancy

  total $2,586,042 · program services $2,395,025 · management and general $190,918 · fundraising $99

• 17 · Travel

  total $1,478,278 · program services $1,249,163 · management and general $109,136 · fundraising $119,979

• 19 · Conferences, conventions and meetings

  total $95,995 · program services $88,908 · management and general $7,087

• 20 · Interest

  total $3,419,686 · management and general $3,419,686

• 22 · Depreciation, depletion and amortization

  total $5,722,237 · management and general $5,722,237

• 23 · Insurance

  total $683,362 · program services $510,077 · management and general $50,450 · fundraising $122,835

• 24a · Other expenses: FOOD PURCHASES & BOOKST

  total $2,643,914 · program services $2,643,914

• 24b · Other expenses: CAMPUS GROUPS & MAY TER

  total $2,147,040 · program services $2,147,040

• 24c · Other expenses: SERVICE AGREEMENTS

  total $1,054,844 · program services $976,904 · management and general $77,875 · fundraising $65

• 24d · Other expenses: TAXES

  total $450 · management and general $450

• 24e · All other expenses

  total $3,501,506 · program services $3,181,171 · management and general $258,087 · fundraising $62,248

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $19,171,076 · end of year $15,656,253

• 3 · Pledges and grants receivable

  beginning of year $780,000 · end of year $2,450,000

• 4 · Accounts receivable

  beginning of year $2,616,944 · end of year $2,071,502

• 7 · Other notes and loans receivable

  beginning of year $864,434 · end of year $347,109

• 8 · Inventories for sale or use

  beginning of year $252,263 · end of year $243,206

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,479,429 · end of year $1,116,875

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

  $180,371,091

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

  $75,408,600

• 10c · Land, buildings and equipment, net

  beginning of year $102,994,785 · end of year $104,962,491

• 11 · Investments: publicly traded securities

  beginning of year $80,267,764 · end of year $79,819,811

• 12 · Investments: other securities

  beginning of year $22,778,489 · end of year $33,574,460

• 15 · Other assets

  beginning of year $2,933,841 · end of year $2,739,875

• 17 · Accounts payable and accrued expenses

  beginning of year $6,819,445 · end of year $5,521,831

• 18 · Grants payable

  beginning of year $1,300,468 · end of year $749,220

• 19 · Deferred revenue

  beginning of year $4,999,421 · end of year $4,793,996

• 20 · Tax-exempt bond liabilities

  beginning of year $69,796,653 · end of year $67,115,019

• 23 · Secured mortgages and notes payable

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

• 25 · Other liabilities

  beginning of year $3,188,182 · end of year $3,063,673

• 27 · Net assets without donor restrictions

  beginning of year $55,509,051 · end of year $61,817,156

• 28 · Net assets with donor restrictions

  beginning of year $90,525,805 · end of year $97,920,687

The filer's explanations (Part III)

PART I, LINE 1A

AS A CONDITION OF EMPLOYMENT, PRESIDENT EHRETSMAN IS REQUIRED TO OCCUPY AND USE THE PRESIDENT'S HOME AT THE COLLEGE, IN THE PERFORMANCE OF HER DUTIES. THE COLLEGE PAYS FOR MAINTENANCE AND UPKEEP OF THE HOME. MAJOR REPAIRS, RENOVATIONS, OR PHYSICAL IMPROVEMENTS ARE SUBJECT TO BOARD APPROVAL BEFORE THEY ARE UNDERTAKEN. PRESIDENT EHRETSMAN IS RESPONSIBLE FOR INSURING ANY PERSONAL PROPERTY OWNED BY HER THAT IS LOCATED IN THE HOME. PRESIDENT EHRETSMAN AND THE PRESIDENT'S SENIOR LEADERSHIP TEAM ARE GRANTED MEMBERSHIP TO THE COLLEGE'S WELLNESS CENTER AT REDUCED COST, THE SAME ARRANGEMENT AVAILABLE TO ALL EMPLOYEES OF THE COLLEGE. THE VALUE OF THE MEMBERSHIP REDUCTION IS $300 PER YEAR, AND IS A TAXABLE FRINGE BENEFIT.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• KNIGHTS ENTERPRISES LLC

  C · TO ENGAGE IN ANY LAWFUL BUSINESS OR ACTIVITY · IA · 100% owned · share of income -$18,298 · share of assets $46,987

  Directly controlled by WARTBURG COLLEGE