Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $12,790

• 1e · Government grants (contributions)

  $1,482,456

• 1f · All other contributions, gifts and grants

  $2,512,512

• 1g · Noncash contributions included above

  $29,725

• 2a · Program service revenue: TUITION AND FEES

  total $142,142,254 · related or exempt $142,142,254

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $11,598,141 · related or exempt $11,598,141

• 2c · Program service revenue: ANCILLARY OPERATIONS

  total $71,311 · related or exempt $71,311

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $3,561,736 · excluded $3,561,736

• 6a · Gross rents

  real property $2,342,910

• 6b · Less rental expenses

  real property $776,246

• 6c · Rental income or loss

  real property $1,566,664 · personal property $0

• 6d · Net rental income or loss

  total $1,566,664 · excluded $1,566,664

• 7a · Gross sales of assets other than inventory

  securities $28,239,824 · other assets $876,364

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

  securities $26,585,331

• 7c · Gain or loss

  securities $1,654,493 · other assets $876,364

• 7d · Net gain or loss

  total $2,530,857 · excluded $2,530,857

• 8a · Fundraising events: gross income

  $9,401

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

  $12,790

• 8b · Fundraising events: direct expenses

  $7,659

• 8c · Net income from fundraising events

  total $1,742 · excluded $1,742

• 11a · Other revenue: INTERCOMPANY CHARGES

  total $820,702 · excluded $820,702

• 11b · Other revenue: ATHLETIC CAMPS

  total $212,094 · related or exempt $212,094

• 11c · Other revenue: SUBLEASE RENTAL INCOME

  total $39,246 · excluded $39,246

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $1,072,042

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $35,500 · program services $35,500

• 2 · Grants to domestic individuals

  total $46,359,052 · program services $46,359,052

• 3 · Grants to foreign organizations and individuals

  total $11,825 · program services $11,825

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $1,954,517 · program services $128,637 · management and general $1,505,766 · fundraising $320,114

• 6 · Compensation of disqualified persons

  total $3,661 · program services $3,661

• 7 · Other salaries and wages

  total $57,616,963 · program services $52,273,429 · management and general $4,847,667 · fundraising $495,867

• 8 · Pension plan contributions

  total $1,576,951 · program services $1,176,314 · management and general $374,010 · fundraising $26,627

• 9 · Other employee benefits

  total $7,670,426 · program services $6,079,368 · management and general $1,446,838 · fundraising $144,220

• 10 · Payroll taxes

  total $4,394,373 · program services $3,729,255 · management and general $605,888 · fundraising $59,230

• 11b · Fees: legal

  total $1,939,973 · program services $28,515 · management and general $1,911,458

• 11c · Fees: accounting

  total $657,742 · management and general $657,742

• 11e · Fees: professional fundraising services

  total $38,178 · fundraising $38,178

• 11f · Fees: investment management

  total $338,020 · management and general $338,020

• 11g · Fees: other

  total $19,122,240 · program services $15,911,502 · management and general $3,176,058 · fundraising $34,680

• 12 · Advertising and promotion

  total $1,777,564 · program services $584,380 · management and general $1,193,184

• 13 · Office expenses

  total $5,240,323 · program services $4,568,606 · management and general $615,848 · fundraising $55,869

• 14 · Information technology

  total $6,384,839 · program services $4,230,661 · management and general $2,074,693 · fundraising $79,485

• 16 · Occupancy

  total $5,550,985 · program services $4,969,684 · management and general $554,264 · fundraising $27,037

• 17 · Travel

  total $1,468,339 · program services $1,373,678 · management and general $94,537 · fundraising $124

• 19 · Conferences, conventions and meetings

  total $843,427 · program services $723,560 · management and general $77,618 · fundraising $42,249

• 20 · Interest

  total $4,770,403 · program services $3,480,345 · management and general $1,225,377 · fundraising $64,681

• 22 · Depreciation, depletion and amortization

  total $9,357,388 · program services $6,807,365 · management and general $2,422,094 · fundraising $127,929

• 23 · Insurance

  total $2,242,340 · program services $88,279 · management and general $2,154,061

• 24a · Other expenses: COLLECTION EXPENSE

  total $407,826 · management and general $407,826

• 24b · Other expenses: TAXES AND LICENSES

  total $370,214 · program services $109,625 · management and general $260,045 · fundraising $544

• 24c · Other expenses: MEMBERSHIP FEES

  total $305,152 · program services $196,740 · management and general $108,232 · fundraising $180

• 24d · Other expenses: GRADUATION EXPENSES

  total $80,166 · program services $80,166

• 24e · All other expenses

  total $2,578,935 · program services $2,101,874 · management and general $475,061 · fundraising $2,000

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,997,606 · end of year $6,376,561

• 2 · Savings and temporary cash investments

  beginning of year $28,566,949 · end of year $25,430,990

• 3 · Pledges and grants receivable

  beginning of year $2,681,836 · end of year $2,447,408

• 4 · Accounts receivable

  beginning of year $22,516,426 · end of year $18,578,959

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $13,547,742 · end of year $13,410,702

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,243,415 · end of year $2,379,753

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

  $380,873,308

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

  $236,416,262

• 10c · Land, buildings and equipment, net

  beginning of year $151,731,864 · end of year $144,457,046

• 11 · Investments: publicly traded securities

  beginning of year $29,631,398 · end of year $31,393,625

• 12 · Investments: other securities

  beginning of year $12,238,975 · end of year $10,170,111

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $33,950,817 · end of year $29,366,732

• 17 · Accounts payable and accrued expenses

  beginning of year $15,863,109 · end of year $14,841,450

• 18 · Grants payable

  beginning of year $86,377 · end of year $0

• 19 · Deferred revenue

  beginning of year $14,932,578 · end of year $13,228,941

• 20 · Tax-exempt bond liabilities

  beginning of year $54,931,090 · end of year $30,461,303

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $36,766,388 · end of year $61,123,356

• 25 · Other liabilities

  beginning of year $5,628,020 · end of year $6,565,925

• 27 · Net assets without donor restrictions

  beginning of year $163,973,809 · end of year $146,780,248

• 28 · Net assets with donor restrictions

  beginning of year $10,925,657 · end of year $11,010,664

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

IN RECOGNITION OF THE UNIQUE ROLE OF THE CHANCELLOR AND PRESIDENT IN REPRESENTING THE UNIVERSITY, WEBSTER UNIVERSITY'S POLICY PROVIDES EACH A SUITABLE RESIDENCE FOR CARRYING OUT REQUIRED OFFICIAL DUTIES. THESE DUTIES INCLUDE, BUT ARE NOT LIMITED TO, EXTENDING OFFICIAL HOSPITALITY FOR EVENTS FOR COMMUNITY MEMBERS, LOCAL, NATIONAL, AND INTERNATIONAL DIGNITARIES, TRUSTEES, FACULTY, STAFF, STUDENTS, ALUMNI, DONORS AND OTHER CONSTITUENTS TO BE CONDUCTED AT SAID RESIDENCES DURING THE CALENDAR YEAR ENDED DECEMBER 31, 2024. THE CHANCELLOR AND PRESIDENT RESIDE IN UNIVERSITY-PROVIDED RESIDENCES. THIS BENEFIT IS NOT INCLUDED IN THEIR TAXABLE COMPENSATION.

Schedule J, Part I, Line 1a Health or social club dues or initiation fees

THE CHANCELLOR AND THE PRESIDENT WERE PROVIDED WITH SOCIAL CLUB DUES. THE SOCIAL CLUB MEMBERSHIPS ARE USED FOR BUSINESS PURPOSES AND CONSIDERED NON-TAXABLE BENEFITS.

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

DURING THE CALENDAR YEAR 2024, DR. SCHUSTER PARTICIPATED IN A SUPPLEMENTAL RETIREMENT PLAN THAT IS A NONQUALIFIED DEFERRED COMPENSATION PLAN. NO PAYMENTS WERE MADE TO HIM DURING THE CALENDAR YEAR 2024.

Schedule J, Part I, Line 7 Non-fixed payments

NON-FIXED PAYMENTS WERE AWARDED FOR AT-RISK COMPENSATION TO ELIZABETH STROBLE DURING THE CALENDAR YEAR 2024 IN ACCORDANCE WITH LANGUAGE INCLUDED IN THEIR CONTRACTS. THE AMOUNT OF AT-RISK COMPENSATION AWARDED IS DETERMINED BASED ON THE CRITERIA SET FORTH IN THEIR CONTRACTS.

Schedule J, Part II CHANCELLOR'S VOLUNTARY RETIREMENT

Webster University and Dr. Stroble entered into an agreement on April 9, 2024. The agreement states that the University shall not contribute to the nonqualified deferred compensation plan (the "457(f) Plan") on behalf of Dr. Stroble with respect to the 2024 or 2025 fiscal years. Any prior contributions to the 457(f) Plan made on behalf of Dr. Stroble shall be governed by the 457(f) Plan, and Dr. Stroble acknowledges and understands that, upon the Retirement Date of June 30, 2024, Dr. Stroble shall forfeit all prior contributions to the 457(f) Plan made on behalf of Dr. Stroble as a result of Dr. Stroble's decision to voluntarily resign from employment at the University made prior to May 31, 2024. Webster University subsequently received the amount of $631,033 back on August 19, 2024, from its prior contributions to the 457(f) Plan made on behalf of Dr. Stroble. In the same agreement the University also agreed to pay Dr. Stroble a total of $600,000, less all applicable withholdings, in two separate installments as severance pay to Dr. Stroble: (1) the first installment will be $300,000, less all applicable withholdings, to be paid on or before September 30, 2024, and (2) the second and final installment will be $300,000, less all applicable withholdings, to be paid on or between January 1, 2025 and March 15, 2025. Webster University subsequently paid Dr. Stroble the first installment of $300,000 on September 30, 2024 and the second installment of $300,000 on March 20, 2025.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• OLD ORCHARD SHOPPING CENTER LLC

  RENTAL · MO · income -$166,512 · assets $2,986,148

  Directly controlled by WEBSTER UNIVERSITY