Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $280,271

• 1e · Government grants (contributions)

  $14,500

• 1f · All other contributions, gifts and grants

  $4,179,556

• 1g · Noncash contributions included above

  $655,074

• 2a · Program service revenue: TUITION AND FEES

  total $2,842,236 · related or exempt $2,842,236

• 2b · Program service revenue: STUDENT HOUSING

  total $20,472 · related or exempt $20,472

• 3 · Investment income

  total $355,363 · excluded $355,363

• 7a · Gross sales of assets other than inventory

  other assets $6,444

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

  other assets $2,650

• 7c · Gain or loss

  other assets $3,794

• 7d · Net gain or loss

  total $3,794 · excluded $3,794

• 8a · Fundraising events: gross income

  $61,531

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

  $280,271

• 8b · Fundraising events: direct expenses

  $178,399

• 8c · Net income from fundraising events

  total -$116,868 · excluded -$116,868

• 10a · Gross sales of inventory

  $2,004

• 10b · Cost of goods sold

  $1,879

• 10c · Net income from sales of inventory

  total $125 · excluded $125

• 11d · All other revenue

  total $6,525 · excluded $6,525

• 11e · Other revenue, total

  $6,525

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $2,425,419 · program services $2,425,419

• 5 · Compensation of officers, directors and key employees

  total $569,168 · program services $329,976 · management and general $146,399 · fundraising $92,793

• 7 · Other salaries and wages

  total $2,573,929 · program services $2,296,024 · management and general $169,541 · fundraising $108,364

• 8 · Pension plan contributions

  total $14,857 · program services $13,559 · management and general $303 · fundraising $995

• 9 · Other employee benefits

  total $67,341 · program services $59,136 · management and general $3,218 · fundraising $4,987

• 10 · Payroll taxes

  total $254,348 · program services $211,902 · management and general $25,979 · fundraising $16,467

• 11b · Fees: legal

  total $15,507 · program services $12,391 · management and general $1,383 · fundraising $1,733

• 11c · Fees: accounting

  total $73,089 · management and general $73,089

• 11e · Fees: professional fundraising services

  total $26,955 · fundraising $26,955

• 11g · Fees: other

  total $70,064 · program services $55,984 · management and general $6,250 · fundraising $7,830

• 12 · Advertising and promotion

  total $370,326 · program services $339,250 · management and general $14,034 · fundraising $17,042

• 13 · Office expenses

  total $524,272 · program services $457,011 · management and general $46,783 · fundraising $20,478

• 16 · Occupancy

  total $942,330 · program services $801,832 · management and general $140,498

• 20 · Interest

  total $79,269 · program services $79,269

• 22 · Depreciation, depletion and amortization

  total $722,013 · program services $649,812 · management and general $72,201

• 23 · Insurance

  total $185,926 · program services $147,794 · management and general $23,504 · fundraising $14,628

• 24a · Other expenses: TRAINING & EDUCATION

  total $1,135,244 · program services $1,135,244

• 24b · Other expenses: REPAIRS AND MAINTENANCE

  total $1,026,809 · program services $994,038 · management and general $32,771

• 24c · Other expenses: HUMAN RESOURCES

  total $160,853 · program services $134,186 · management and general $21,338 · fundraising $5,329

• 24d · Other expenses: EQUIPMENT

  total $118,485 · program services $88,819 · management and general $25,518 · fundraising $4,148

• 24e · All other expenses

  total $205,611 · program services $185,864 · management and general $10,620 · fundraising $9,127

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $703,576 · end of year $972,000

• 2 · Savings and temporary cash investments

  beginning of year $11,842,362 · end of year $6,659,190

• 3 · Pledges and grants receivable

  beginning of year $597,533 · end of year $206,233

• 4 · Accounts receivable

  beginning of year $43,430 · end of year $19,026

• 9 · Prepaid expenses and deferred charges

  beginning of year $146,962 · end of year $161,333

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

  $9,659,294

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

  $2,965,750

• 10c · Land, buildings and equipment, net

  beginning of year $5,051,264 · end of year $6,693,544

• 15 · Other assets

  beginning of year $5,696,273 · end of year $7,889,388

• 17 · Accounts payable and accrued expenses

  beginning of year $280,518 · end of year $469,814

• 19 · Deferred revenue

  beginning of year $6,000 · end of year $200,768

• 22 · Loans and payables to officers and key people

  beginning of year $147,814 · end of year $144,969

• 23 · Secured mortgages and notes payable

  beginning of year $2,112,781 · end of year $2,025,837

• 25 · Other liabilities

  beginning of year $5,649,329 · end of year $7,850,209

• 27 · Net assets without donor restrictions

  beginning of year $10,779,232 · end of year $5,933,466

• 28 · Net assets with donor restrictions

  beginning of year $5,105,726 · end of year $5,975,651

The filer's explanations (Part III)

PART I, LINE 7

NONDISCRETIONARY BONUS PAYMENTS WERE PAID BASED ON PERSONS MEETING GOALS SET BY AND APPROVED BY THE BOARD MEMBERS.