Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $121,664

• 1d · Related organizations

  $1,758,782

• 1e · Government grants (contributions)

  $2,266,644

• 1f · All other contributions, gifts and grants

  $8,611,058

• 1g · Noncash contributions included above

  $1,082,594

• 2a · Program service revenue: TUITION AND FEES

  total $58,198,874 · related or exempt $58,198,874

• 2b · Program service revenue: HOUSING/FOOD SERVICE

  total $15,041,336 · related or exempt $15,041,336

• 2c · Program service revenue: OTHER PROGRAM REVENUE

  total $739,713 · related or exempt $739,713

• 3 · Investment income

  total $1,769,324 · excluded $1,769,324

• 6a · Gross rents

  real property $438,013

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $438,013

• 6d · Net rental income or loss

  total $438,013 · excluded $438,013

• 7a · Gross sales of assets other than inventory

  securities $76,629,605 · other assets $10,636,251

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

  securities $79,837,628 · other assets $565,919

• 7c · Gain or loss

  securities -$3,208,023 · other assets $10,070,332

• 7d · Net gain or loss

  total $6,862,309 · excluded $6,862,309

• 8a · Fundraising events: gross income

  $173,303

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

  $121,664

• 8b · Fundraising events: direct expenses

  $146,687

• 8c · Net income from fundraising events

  total $26,616 · excluded $26,616

• 10a · Gross sales of inventory

  $906,857

• 10b · Cost of goods sold

  $737,174

• 10c · Net income from sales of inventory

  total $169,683 · unrelated business $169,683

• 11a · Other revenue: ADVERTISING REVENUE

  total $119,759 · unrelated business $119,759

• 11e · Other revenue, total

  $119,759

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $15,633,629 · program services $15,633,629

• 5 · Compensation of officers, directors and key employees

  total $2,436,651 · program services $952,465 · management and general $924,536 · fundraising $559,650

• 7 · Other salaries and wages

  total $27,217,698 · program services $20,588,850 · management and general $5,965,732 · fundraising $663,116

• 8 · Pension plan contributions

  total $1,287,233 · program services $992,607 · management and general $270,283 · fundraising $24,343

• 9 · Other employee benefits

  total $3,732,529 · program services $2,802,094 · management and general $821,881 · fundraising $108,554

• 10 · Payroll taxes

  total $2,431,232 · program services $1,776,476 · management and general $559,701 · fundraising $95,055

• 11b · Fees: legal

  total $267,974 · management and general $267,974

• 11c · Fees: accounting

  total $172,674 · management and general $172,674

• 11f · Fees: investment management

  total $433,378 · management and general $433,378

• 11g · Fees: other

  total $2,233,018 · program services $175,979 · management and general $1,978,956 · fundraising $78,083

• 12 · Advertising and promotion

  total $69,802 · program services $6,372 · management and general $63,430

• 13 · Office expenses

  total $3,246,698 · program services $1,921,692 · management and general $1,166,329 · fundraising $158,677

• 14 · Information technology

  total $120,109 · program services $76,810 · management and general $43,299

• 16 · Occupancy

  total $9,540,483 · program services $8,360,515 · management and general $1,179,968

• 17 · Travel

  total $948,748 · program services $602,464 · management and general $278,462 · fundraising $67,822

• 19 · Conferences, conventions and meetings

  total $315,180 · program services $120,855 · management and general $60,958 · fundraising $133,367

• 20 · Interest

  total $1,646,946 · program services $1,616,813 · management and general $30,133

• 22 · Depreciation, depletion and amortization

  total $6,532,735 · program services $5,835,340 · management and general $697,395

• 23 · Insurance

  total $351,667 · program services $254,966 · management and general $96,701

• 24a · Other expenses: INSTRUCTION

  total $3,619,841 · program services $3,619,841

• 24b · Other expenses: INSTITUTIONAL SUPPORT

  total $2,605,962 · program services $2,605,962

• 24c · Other expenses: AUXILIARY SERVICES

  total $2,494,339 · program services $2,494,339

• 24d · Other expenses: STUDENT SERVICES

  total $2,169,546 · program services $2,169,546

• 24e · All other expenses

  total $2,462,849 · program services $1,337,740 · management and general $940,065 · fundraising $185,044

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $7,445,268 · end of year $4,017,543

• 2 · Savings and temporary cash investments

  beginning of year $7,475,841 · end of year $41,698

• 3 · Pledges and grants receivable

  beginning of year $9,738,361 · end of year $7,886,337

• 4 · Accounts receivable

  beginning of year $692,909 · end of year $2,384,108

• 7 · Other notes and loans receivable

  beginning of year $37,828 · end of year $41,940

• 8 · Inventories for sale or use

  beginning of year $205,710 · end of year $203,544

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,256,944 · end of year $1,512,395

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

  $284,403,214

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

  $104,679,882

• 10c · Land, buildings and equipment, net

  beginning of year $120,899,793 · end of year $179,723,332

• 11 · Investments: publicly traded securities

  beginning of year $66,944,885 · end of year $49,084,917

• 15 · Other assets

  beginning of year $5,839,961 · end of year $6,080,898

• 17 · Accounts payable and accrued expenses

  beginning of year $6,124,346 · end of year $10,484,581

• 19 · Deferred revenue

  beginning of year $2,581,400 · end of year $3,439,280

• 20 · Tax-exempt bond liabilities

  beginning of year $39,719,205 · end of year $57,590,982

• 21 · Escrow or custodial account liability

  beginning of year $93,909 · end of year $94,566

• 25 · Other liabilities

  beginning of year $3,074,550 · end of year $3,302,972

• 27 · Net assets without donor restrictions

  beginning of year $130,551,291 · end of year $140,600,638

• 28 · Net assets with donor restrictions

  beginning of year $38,392,799 · end of year $35,463,693

The filer's explanations (Part III)

PART I, LINE 1A

JOHN DELANEY - THE COLLEGE PROVIDED A HOUSING ALLOWANCE OF $40,000 FOR CALENDAR YEAR 2022 WHICH WAS FULLY TAXABLE. THE COLLEGE ALSO PROVIDED AN AMOUNT FOR HEALTH OR SOCIAL CLUB DUES, WHICH WAS ALSO FULLY TAXABLE, TO THE FOLLOWING PERSON: JOHN DELANEY - $7,366 DEBORAH THOMPSON - $3,461 JUD DAMON - $5,760 KRISTINA MYERS - $3,461

PART I, LINE 4A

DAVID CARSON RECEIVED SEVERANCE PAY AMOUNTING TO $97,784 IN CALENDAR YEAR 2022.