Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $360,906

• 1e · Government grants (contributions)

  $95,500

• 1f · All other contributions, gifts and grants

  $3,697,168

• 1g · Noncash contributions included above

  $554,069

• 2a · Program service revenue: TUITION AND FEES

  total $2,154,550 · related or exempt $2,154,550

• 2b · Program service revenue: TICKET SALES

  total $1,671,531 · related or exempt $1,671,531

• 3 · Investment income

  total $1,479,910 · excluded $1,479,910

• 6a · Gross rents

  real property $115,631

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $115,631

• 6d · Net rental income or loss

  total $115,631 · related or exempt $104,971 · unrelated business $10,660

• 7a · Gross sales of assets other than inventory

  securities $525,406

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

  securities $0 · other assets $2,354

• 7c · Gain or loss

  securities $525,406 · other assets -$2,354

• 7d · Net gain or loss

  total $523,052 · excluded $523,052

• 8a · Fundraising events: gross income

  $59,589

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

  $360,906

• 8b · Fundraising events: direct expenses

  $137,275

• 8c · Net income from fundraising events

  total -$77,686 · excluded -$77,686

• 9a · Gaming: gross income

  $187,250

• 9b · Gaming: direct expenses

  $57,935

• 9c · Net income from gaming

  total $129,315 · excluded $129,315

• 10a · Gross sales of inventory

  $78,023

• 10b · Cost of goods sold

  $48,094

• 10c · Net income from sales of inventory

  total $29,929 · related or exempt $29,929

• 11a · Other revenue: MISCELLANEOUS INCOME

  total $64,152 · excluded $64,152

• 11e · Other revenue, total

  $64,152

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $702,198 · program services $245,002 · management and general $315,140 · fundraising $142,056

• 7 · Other salaries and wages

  total $2,493,577 · program services $1,698,997 · management and general $550,368 · fundraising $244,212

• 8 · Pension plan contributions

  total $65,315 · program services $26,425 · management and general $22,832 · fundraising $16,058

• 9 · Other employee benefits

  total $249,107 · program services $157,378 · management and general $37,979 · fundraising $53,750

• 10 · Payroll taxes

  total $195,899 · program services $137,235 · management and general $31,751 · fundraising $26,913

• 11b · Fees: legal

  total $36,867 · management and general $36,867

• 11c · Fees: accounting

  total $40,506 · management and general $40,506

• 11f · Fees: investment management

  total $14,021 · management and general $14,021

• 11g · Fees: other

  total $1,478,587 · program services $1,331,810 · management and general $146,445 · fundraising $332

• 12 · Advertising and promotion

  total $143,193 · program services $141,699 · fundraising $1,494

• 13 · Office expenses

  total $946,890 · program services $708,055 · management and general $183,662 · fundraising $55,173

• 14 · Information technology

  total $57,536 · program services $29,282 · management and general $7,004 · fundraising $21,250

• 16 · Occupancy

  total $480,602 · program services $480,198 · management and general $404

• 17 · Travel

  total $116,409 · program services $110,598 · management and general $2,933 · fundraising $2,878

• 19 · Conferences, conventions and meetings

  total $17,418 · program services $6,465 · management and general $1,430 · fundraising $9,523

• 20 · Interest

  total $100,429 · management and general $100,429

• 22 · Depreciation, depletion and amortization

  total $983,457 · program services $983,457

• 23 · Insurance

  total $79,328 · program services $48,945 · management and general $30,383

• 24a · Other expenses: PRODUCTION/PERFORMANCE

  total $291,248 · program services $291,248

• 24b · Other expenses: BAD DEBT EXPENSES

  total $35,263 · program services $35,263

• 24c · Other expenses: MISCELLANEOUS

  total $22,331 · program services $11,755 · fundraising $10,576

• 24d · Other expenses: STRATEGIC INITIATIVE

  total $177 · management and general $177

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $7,184,259 · end of year $4,566,853

• 3 · Pledges and grants receivable

  beginning of year $1,892,762 · end of year $1,500,357

• 4 · Accounts receivable

  beginning of year $120,590 · end of year $236,161

• 8 · Inventories for sale or use

  beginning of year $2,075 · end of year $2,075

• 9 · Prepaid expenses and deferred charges

  beginning of year $99,772 · end of year $95,211

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

  $31,976,536

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

  $13,993,374

• 10c · Land, buildings and equipment, net

  beginning of year $17,307,672 · end of year $17,983,162

• 11 · Investments: publicly traded securities

  beginning of year $41,815,061 · end of year $37,415,317

• 15 · Other assets

  beginning of year $1,187,785 · end of year $1,021,523

• 17 · Accounts payable and accrued expenses

  beginning of year $413,045 · end of year $708,002

• 19 · Deferred revenue

  beginning of year $138,783 · end of year $197,672

• 23 · Secured mortgages and notes payable

  beginning of year $4,792,720 · end of year $4,622,235

• 25 · Other liabilities

  beginning of year $546,498 · end of year $505,154

• 27 · Net assets without donor restrictions

  beginning of year $20,394,284 · end of year $17,021,252

• 28 · Net assets with donor restrictions

  beginning of year $43,324,646 · end of year $39,766,344

The filer's explanations (Part III)

PART I, LINE 6

ALL FULL-TIME EMPOLOYEES PARTICIPATE IN A INCENTIVE AWARD PLAN THAT IS BASED ON THE ORGANIZATION ACHEIVING A POSITIVE NET OPERATING SURPLUS ANNUALLY. THE AMOUNT AND PAYMENT UNDER THIS PLAN IS AT THE DISCRETION OF THE BOARD OF TRUSTEES.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CHARITABLE REMAINDER UNITRUST (1)

  TRUST · NC