Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $216,907

• 1d · Related organizations

  $106,601

• 1e · Government grants (contributions)

  $236,496

• 1f · All other contributions, gifts and grants

  $6,020,343

• 1g · Noncash contributions included above

  $217,400

• 2a · Program service revenue: Tuition fee revenue

  total $37,839,077 · related or exempt $37,839,077

• 2b · Program service revenue: Organized activity revenue

  total $480,386 · related or exempt $480,386

• 2c · Program service revenue: Auxiliary revenue

  total $7,694,345 · related or exempt $7,694,345

• 2f · All other program service revenue

  total $565,952 · related or exempt $565,952

• 3 · Investment income

  total $465,896 · excluded $465,896

• 6a · Gross rents

  personal property $223,248

• 6b · Less rental expenses

  personal property $91,663

• 6c · Rental income or loss

  personal property $131,585

• 6d · Net rental income or loss

  total $131,585 · related or exempt $46,291 · unrelated business $85,294

• 7a · Gross sales of assets other than inventory

  securities $1,536,017 · other assets -$2,175

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

  securities $1,834,461

• 7c · Gain or loss

  securities -$298,444 · other assets -$2,175

• 7d · Net gain or loss

  total -$300,619 · excluded -$300,619

• 8a · Fundraising events: gross income

  $14,422

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

  $216,907

• 8b · Fundraising events: direct expenses

  $60,195

• 8c · Net income from fundraising events

  total -$45,773 · excluded -$45,773

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $15,916,380 · program services $15,916,380

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $1,009,606 · program services $247,534 · management and general $487,307 · fundraising $274,765

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $16,418,199 · program services $13,543,625 · management and general $2,113,470 · fundraising $761,104

• 8 · Pension plan contributions

  total $692,924 · program services $535,954 · management and general $111,592 · fundraising $45,378

• 9 · Other employee benefits

  total $2,737,115 · program services $1,604,200 · management and general $1,023,789 · fundraising $109,126

• 10 · Payroll taxes

  total $1,174,847 · program services $946,339 · management and general $162,981 · fundraising $65,527

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $140,106 · program services $5,575 · management and general $134,531

• 11c · Fees: accounting

  total $52,450 · management and general $52,450

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $17,994 · fundraising $17,994

• 11f · Fees: investment management

  total $109,999 · management and general $109,999

• 11g · Fees: other

  total $0

• 12 · Advertising and promotion

  total $766,549 · program services $727,154 · management and general $1,408 · fundraising $37,987

• 13 · Office expenses

  total $6,168,400 · program services $4,865,397 · management and general $1,049,456 · fundraising $253,547

• 14 · Information technology

  total $1,757,599 · program services $130,629 · management and general $1,624,041 · fundraising $2,929

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $1,197,895 · program services $574,636 · management and general $623,259

• 17 · Travel

  total $747,453 · program services $649,413 · management and general $51,016 · fundraising $47,024

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $107,170 · program services $99,601 · management and general $5,963 · fundraising $1,606

• 20 · Interest

  total $114,700 · program services $110,556 · management and general $4,144

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $3,558,346 · program services $3,416,013 · management and general $142,333

• 23 · Insurance

  total $296,200 · program services $284,352 · management and general $11,848

• 24a · Other expenses: Organized activities expenses

  total $379,015 · program services $360,056 · fundraising $18,959

• 24e · All other expenses

  total $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $124,023 · end of year $106,229

• 2 · Savings and temporary cash investments

  beginning of year $15,185,326 · end of year $11,884,936

• 3 · Pledges and grants receivable

  beginning of year $1,895,558 · end of year $1,851,945

• 4 · Accounts receivable

  beginning of year $1,108,592 · end of year $1,479,382

• 7 · Other notes and loans receivable

  beginning of year $380,807 · end of year $349,290

• 8 · Inventories for sale or use

  beginning of year $87,481 · end of year $40,242

• 9 · Prepaid expenses and deferred charges

  beginning of year $434,302 · end of year $528,270

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

  $131,189,713

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

  $60,329,748

• 10c · Land, buildings and equipment, net

  beginning of year $71,499,304 · end of year $70,859,965

• 11 · Investments: publicly traded securities

  beginning of year $17,610,810 · end of year $17,586,129

• 17 · Accounts payable and accrued expenses

  beginning of year $3,108,998 · end of year $2,666,236

• 19 · Deferred revenue

  beginning of year $1,983,178 · end of year $1,565,340

• 20 · Tax-exempt bond liabilities

  beginning of year $3,165,000 · end of year $2,120,000

• 23 · Secured mortgages and notes payable

  beginning of year $1,661,026 · end of year $359,544

• 25 · Other liabilities

  beginning of year $224,530 · end of year $208,266

• 27 · Net assets without donor restrictions

  beginning of year $51,767,889 · end of year $52,508,934

• 28 · Net assets with donor restrictions

  beginning of year $46,415,582 · end of year $45,258,068

The filer's explanations (Part III)

Part I Line 1a

Occasional travel by the President requires his wife to travel with him for donor meetings that are essential tothe business of the University. This benefit is not treated as taxable compensation

Part I Line 1a

The Board of Trustees considers the Presidents membership at a local country club to be critical to the furthering of business of the University. The benefit is listed as taxable compensation on the employees W-2 form.