Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $50,949

• 1e · Government grants (contributions)

  $649,805

• 1f · All other contributions, gifts and grants

  $3,225,272

• 1g · Noncash contributions included above

  $195,451

• 2a · Program service revenue: TUITION & FEES

  total $50,377,829 · related or exempt $50,377,829

• 2b · Program service revenue: DORM & DINING HALL

  total $8,790,932 · related or exempt $8,790,932

• 2c · Program service revenue: FINANCIAL AID FEES

  total $16,883 · related or exempt $16,883

• 2f · All other program service revenue

  total $850,160 · related or exempt $850,160

• 3 · Investment income

  total $705,447 · unrelated business $13,332 · excluded $692,115

• 6a · Gross rents

  real property $451,630

• 6b · Less rental expenses

  real property $78,254

• 6c · Rental income or loss

  real property $373,376

• 6d · Net rental income or loss

  total $373,376 · excluded $373,376

• 7a · Gross sales of assets other than inventory

  securities $13,629,653 · other assets $37,756

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

  securities $12,853,347 · other assets $21,101

• 7c · Gain or loss

  securities $776,306 · other assets $16,655

• 7d · Net gain or loss

  total $792,961 · excluded $792,961

• 8a · Fundraising events: gross income

  $36,531

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

  $50,949

• 8b · Fundraising events: direct expenses

  $33,223

• 8c · Net income from fundraising events

  total $3,308 · excluded $3,308

• 10a · Gross sales of inventory

  $731,446

• 10b · Cost of goods sold

  $510,057

• 10c · Net income from sales of inventory

  total $221,389 · excluded $221,389

• 11a · Other revenue: CAMPUS SERV - EXTERNAL SERVICES

  total $301 · unrelated business $301

• 11e · Other revenue, total

  $301

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $25,880,344 · program services $25,880,344

• 5 · Compensation of officers, directors and key employees

  total $1,602,990 · program services $461,253 · management and general $914,255 · fundraising $227,482

• 7 · Other salaries and wages

  total $16,006,119 · program services $13,412,271 · management and general $2,290,218 · fundraising $303,630

• 8 · Pension plan contributions

  total $965,391 · program services $760,594 · management and general $176,052 · fundraising $28,745

• 9 · Other employee benefits

  total $2,896,884 · program services $2,127,319 · management and general $705,037 · fundraising $64,528

• 10 · Payroll taxes

  total $1,254,584 · program services $988,437 · management and general $228,791 · fundraising $37,356

• 11b · Fees: legal

  total $20,885 · management and general $20,885

• 11c · Fees: accounting

  total $92,400 · management and general $92,400

• 11f · Fees: investment management

  total $212,618 · program services $77,399 · management and general $135,219

• 11g · Fees: other

  total $2,345,465 · program services $1,376,060 · management and general $930,947 · fundraising $38,458

• 12 · Advertising and promotion

  total $272,285 · program services $11,334 · management and general $258,675 · fundraising $2,276

• 13 · Office expenses

  total $593,154 · program services $323,196 · management and general $252,973 · fundraising $16,985

• 16 · Occupancy

  total $4,273,704 · program services $4,177,194 · management and general $86,876 · fundraising $9,634

• 17 · Travel

  total $1,659,797 · program services $1,588,297 · management and general $52,869 · fundraising $18,631

• 19 · Conferences, conventions and meetings

  total $455,323 · program services $294,454 · management and general $150,223 · fundraising $10,646

• 20 · Interest

  total $1,390,521 · program services $1,350,344 · management and general $38,044 · fundraising $2,133

• 22 · Depreciation, depletion and amortization

  total $3,454,132 · program services $3,304,135 · management and general $137,760 · fundraising $12,237

• 23 · Insurance

  total $591,583 · program services $20,577 · management and general $571,006

• 24a · Other expenses: EQUIPMENT RENTAL & MAIN

  total $1,053,318 · program services $407,311 · management and general $646,007

• 24b · Other expenses: MINOR EQUIPMENT

  total $459,962 · program services $454,857 · management and general $5,105

• 24c · Other expenses: BAD DEBT EXPENSE

  total $187,828 · management and general $187,828

• 24d · Other expenses: PERSONNEL RECRUITING

  total $118,633 · program services $34,823 · management and general $83,811

• 24e · All other expenses

  total $1,505,776 · program services $845,454 · management and general $608,348 · fundraising $51,974

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,764,003 · end of year $2,684,513

• 2 · Savings and temporary cash investments

  beginning of year $454,444 · end of year $569,520

• 3 · Pledges and grants receivable

  beginning of year $517,513 · end of year $614,112

• 4 · Accounts receivable

  beginning of year $305,751 · end of year $443,411

• 8 · Inventories for sale or use

  beginning of year $304,432 · end of year $331,779

• 9 · Prepaid expenses and deferred charges

  beginning of year $701,234 · end of year $474,849

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

  $134,531,677

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

  $65,216,486

• 10c · Land, buildings and equipment, net

  beginning of year $72,002,770 · end of year $69,315,191

• 11 · Investments: publicly traded securities

  beginning of year $26,654,859 · end of year $27,617,019

• 12 · Investments: other securities

  beginning of year $10,708,707 · end of year $12,050,793

• 13 · Investments: program-related

  beginning of year $137,312 · end of year $104,819

• 15 · Other assets

  beginning of year $2,550,613 · end of year $2,326,411

• 17 · Accounts payable and accrued expenses

  beginning of year $5,954,644 · end of year $6,395,770

• 19 · Deferred revenue

  beginning of year $4,975,625 · end of year $4,152,744

• 20 · Tax-exempt bond liabilities

  beginning of year $33,583,884 · end of year $31,688,234

• 25 · Other liabilities

  beginning of year $674,598 · end of year $719,144

• 27 · Net assets without donor restrictions

  beginning of year $37,432,646 · end of year $35,291,275

• 28 · Net assets with donor restrictions

  beginning of year $35,480,241 · end of year $38,285,250

The filer's explanations (Part III)

PART I, LINE 1A

$32,000 HOUSING ALLOWANCE AND $10,200 CAR ALLOWANCE PAID TO THE PRESIDENT WAS INCLUDED AS TAXABLE INCOME ON HER W-2. THE UNIVERSITY PAYS DUES FOR THE PRESIDENT FOR BUSINESS USE ONLY.

SCHEDULE J - SUPPLEMENTAL INFORMATION

NONTAXABLE BENEFITS PRIMARILY INCLUDE HEALTH INSURANCE BENEFITS. THOSE INDIVIDUALS WITH SIGNIFICANTLY LARGER NONTAXABLE BENEFITS REPORTED ALSO INCLUDE TUITION WAIVER AND EXCHANGE BENEFITS OF THE EMPLOYEE AND IMMEDIATE FAMILY.