Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $729,758

• 1f · All other contributions, gifts and grants

  $6,735,197

• 1g · Noncash contributions included above

  $3,675,454

• 2a · Program service revenue: STUDENT TUITION

  total $13,660,938 · related or exempt $13,660,938

• 2b · Program service revenue: AUXILLARY SERVICES

  total $1,858,743 · related or exempt $1,858,743

• 3 · Investment income

  total $1,163,542 · excluded $1,163,542

• 6a · Gross rents

  real property $80,386

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $80,386

• 6d · Net rental income or loss

  total $80,386 · unrelated business $80,386

• 7a · Gross sales of assets other than inventory

  securities $2,995,184

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

  securities $3,018,064

• 7c · Gain or loss

  securities -$22,880

• 7d · Net gain or loss

  total -$22,880 · excluded -$22,880

• 10a · Gross sales of inventory

  $88,432

• 10b · Cost of goods sold

  $84,814

• 10c · Net income from sales of inventory

  total $3,618 · excluded $3,618

• 11a · Other revenue: OTHER INCOME

  total $452,160 · related or exempt $170,649 · unrelated business $281,511

• 11e · Other revenue, total

  $452,160

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $4,818,246 · program services $4,818,246

• 5 · Compensation of officers, directors and key employees

  total $942,416 · program services $782,205 · management and general $94,241 · fundraising $65,970

• 7 · Other salaries and wages

  total $6,369,560 · program services $4,773,541 · management and general $827,173 · fundraising $768,846

• 8 · Pension plan contributions

  total $282,005 · program services $209,742 · management and general $45,133 · fundraising $27,130

• 9 · Other employee benefits

  total $813,015 · program services $606,232 · management and general $140,423 · fundraising $66,360

• 10 · Payroll taxes

  total $495,189 · program services $361,545 · management and general $77,985 · fundraising $55,659

• 11b · Fees: legal

  total $72,345 · management and general $72,345

• 11c · Fees: accounting

  total $78,129 · management and general $78,129

• 11g · Fees: other

  total $587,436 · program services $421,532 · management and general $64,721 · fundraising $101,183

• 12 · Advertising and promotion

  total $487,305 · program services $146,761 · fundraising $340,544

• 13 · Office expenses

  total $663,295 · program services $396,883 · management and general $32,131 · fundraising $234,281

• 14 · Information technology

  total $238,179 · program services $189,506 · management and general $132 · fundraising $48,541

• 16 · Occupancy

  total $1,264,902 · program services $1,264,902

• 17 · Travel

  total $178,161 · program services $106,288 · management and general $22,402 · fundraising $49,471

• 19 · Conferences, conventions and meetings

  total $6,242 · program services $3,326 · management and general $644 · fundraising $2,272

• 20 · Interest

  total $357,566 · program services $357,566

• 22 · Depreciation, depletion and amortization

  total $2,322,357 · program services $2,157,487 · management and general $137,598 · fundraising $27,272

• 23 · Insurance

  total $286,212 · program services $286,212

• 24a · Other expenses: EQUESTRIAN EXPENSES

  total $1,147,173 · program services $1,147,173

• 24b · Other expenses: SPECIAL PROGRAMS

  total $918,101 · program services $881,290 · fundraising $36,811

• 24c · Other expenses: CONTRACT HELP

  total $750,216 · program services $695,709 · management and general $54,507

• 24d · Other expenses: PROFESSIONAL DEVELOPMEN

  total $497,489 · program services $494,919 · management and general $1,788 · fundraising $782

• 24e · All other expenses

  total $136,088 · program services $41,693 · management and general $89,101 · fundraising $5,294

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $63,199 · end of year $8,228

• 2 · Savings and temporary cash investments

  beginning of year $3,341,924 · end of year $4,926,478

• 4 · Accounts receivable

  beginning of year $4,652,670 · end of year $4,298,558

• 8 · Inventories for sale or use

  beginning of year $59,030 · end of year $47,591

• 9 · Prepaid expenses and deferred charges

  beginning of year $154,626 · end of year $317,633

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

  $84,491,020

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

  $45,737,748

• 10c · Land, buildings and equipment, net

  beginning of year $36,920,603 · end of year $38,753,272

• 11 · Investments: publicly traded securities

  beginning of year $37,236,903 · end of year $43,175,300

• 12 · Investments: other securities

  beginning of year $13,450,134 · end of year $13,764,845

• 15 · Other assets

  beginning of year $353,614 · end of year $646,170

• 17 · Accounts payable and accrued expenses

  beginning of year $1,064,961 · end of year $2,123,683

• 19 · Deferred revenue

  beginning of year $8,440,794 · end of year $8,905,227

• 20 · Tax-exempt bond liabilities

  beginning of year $12,831,365 · end of year $12,247,588

• 23 · Secured mortgages and notes payable

  end of year $5,888,356

• 27 · Net assets without donor restrictions

  beginning of year $49,169,883 · end of year $50,950,199

• 28 · Net assets with donor restrictions

  beginning of year $24,725,700 · end of year $25,823,022

The filer's explanations (Part III)

PART I, LINE 1A

CERTAIN EMPLOYEES, INCLUDING THE HEAD OF SCHOOL, ARE REQUIRED TO LIVE ON CAMPUS AS A CONDITION OF EMPLOYMENT. THE SCHOOL REPORTS THE VALUE OF THE HOUSING AS NONTAXABLE BENEFITS IN SCHEDULE J, PART II, COLUMN (D). THE HEAD OF SCHOOL HOSTS EVENTS AT THE RESIDENCE. A CLEANING SERVICE IS USED TO CLEAN THE PUBLIC AREAS OF THE HOME, NOT THE PERSONAL SPACE.