Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $116,342

• 1e · Government grants (contributions)

  $15,620

• 1f · All other contributions, gifts and grants

  $10,957,853

• 2a · Program service revenue: TUITION AND FEES

  total $69,015,309 · related or exempt $69,015,309

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $6,078,329 · related or exempt $6,078,329

• 3 · Investment income

  total $1,215,388 · excluded $1,215,388

• 7a · Gross sales of assets other than inventory

  securities $20,331,156

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

  securities $19,856,266

• 7c · Gain or loss

  securities $474,890

• 7d · Net gain or loss

  total $474,890 · excluded $474,890

• 8a · Fundraising events: gross income

  $122,708

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

  $116,342

• 8b · Fundraising events: direct expenses

  $97,437

• 8c · Net income from fundraising events

  total $25,271 · excluded $25,271

• 11a · Other revenue: OTHER INCOME

  total $564,998 · excluded $564,998

• 11e · Other revenue, total

  $564,998

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $25,672,686 · program services $25,672,686

• 5 · Compensation of officers, directors and key employees

  total $3,169,819 · program services $1,460,066 · management and general $991,524 · fundraising $718,229

• 7 · Other salaries and wages

  total $26,000,860 · program services $22,746,084 · management and general $3,254,776

• 8 · Pension plan contributions

  total $1,533,950 · program services $1,165,802 · management and general $368,148

• 9 · Other employee benefits

  total $3,909,740 · program services $2,971,402 · management and general $938,338

• 10 · Payroll taxes

  total $2,473,053 · program services $1,533,293 · management and general $593,533 · fundraising $346,227

• 11b · Fees: legal

  total $233,356 · management and general $233,356

• 11c · Fees: accounting

  total $127,075 · management and general $127,075

• 11f · Fees: investment management

  total $26,310 · management and general $26,310

• 11g · Fees: other

  total $1,219,156 · program services $754,890 · management and general $446,254 · fundraising $18,012

• 12 · Advertising and promotion

  total $508,512 · program services $157,534 · management and general $347,923 · fundraising $3,055

• 13 · Office expenses

  total $1,172,815 · program services $854,350 · management and general $281,627 · fundraising $36,838

• 14 · Information technology

  total $2,304,232 · program services $291,082 · management and general $1,973,818 · fundraising $39,332

• 16 · Occupancy

  total $3,161,412 · program services $3,103,853 · management and general $46,047 · fundraising $11,512

• 17 · Travel

  total $768,272 · program services $522,946 · management and general $170,967 · fundraising $74,359

• 19 · Conferences, conventions and meetings

  total $134,198 · program services $107,672 · management and general $26,502 · fundraising $24

• 20 · Interest

  total $1,070,515 · management and general $1,070,515

• 22 · Depreciation, depletion and amortization

  total $2,643,644 · program services $2,511,462 · management and general $105,746 · fundraising $26,436

• 23 · Insurance

  total $439,391 · management and general $439,391

• 24a · Other expenses: STUDENT MEDICAL INSURAN

  total $1,511,641 · program services $1,511,641

• 24b · Other expenses: EQUIP COST UNDER $1,000

  total $658,908 · program services $582,370 · management and general $76,436 · fundraising $102

• 24c · Other expenses: REPAIRS AND MAINTENANCE

  total $213,300 · program services $125,609 · management and general $87,691

• 24d · Other expenses: DUES & SUBSCRIPTIONS

  total $131,797 · program services $53,072 · management and general $78,725

• 24e · All other expenses

  total $4,652,030 · program services $4,354,999 · management and general $237,625 · fundraising $59,406

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,308,950 · end of year $3,286,305

• 2 · Savings and temporary cash investments

  beginning of year $11,950,576 · end of year $7,353,099

• 3 · Pledges and grants receivable

  beginning of year $453,280 · end of year $1,175,630

• 4 · Accounts receivable

  beginning of year $2,299,092 · end of year $1,179,680

• 8 · Inventories for sale or use

  beginning of year $31,661 · end of year $34,838

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,292,121 · end of year $941,605

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

  $101,277,749

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

  $38,569,235

• 10c · Land, buildings and equipment, net

  beginning of year $62,818,348 · end of year $62,708,514

• 11 · Investments: publicly traded securities

  beginning of year $35,782,880 · end of year $47,691,705

• 12 · Investments: other securities

  beginning of year $609,260 · end of year $517,222

• 13 · Investments: program-related

  beginning of year $64,290 · end of year $63,945

• 15 · Other assets

  beginning of year $581,083 · end of year $415,059

• 17 · Accounts payable and accrued expenses

  beginning of year $7,348,424 · end of year $5,485,534

• 19 · Deferred revenue

  beginning of year $8,536,897 · end of year $9,326,128

• 20 · Tax-exempt bond liabilities

  beginning of year $28,377,675 · end of year $27,303,742

• 25 · Other liabilities

  beginning of year $748,198 · end of year $535,279

• 27 · Net assets without donor restrictions

  beginning of year $35,468,861 · end of year $35,685,817

• 28 · Net assets with donor restrictions

  beginning of year $37,711,486 · end of year $47,031,102

The filer's explanations (Part III)

PART I, LINE 4A

PATRICK MAHANY RECEIVED $73,667 OF SEVERANCE PAYMENT FROM THE ORGANIZATION.

PART I, LINE 7

THE CEO RECEIVES A NON-FIXED PERFORMANCE BONUS SET BY THE BOARD. ALL OTHER NON-FIXED PERFORMANCE BONUSES ARE SET BY THE CEO FOR EXECUTIVE PERFORMANCE.