Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $0

• 1b · Membership dues

  $0

• 1c · Fundraising events

  $0

• 1d · Related organizations

  $0

• 1e · Government grants (contributions)

  $2,365,514

• 1f · All other contributions, gifts and grants

  $17,123,912

• 1g · Noncash contributions included above

  $5,386,686

• 2a · Program service revenue: Student Tuition

  total $139,824,489 · related or exempt $139,824,489 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Auxiliary Res Hall, Dining

  total $30,036,848 · related or exempt $30,036,848 · unrelated business $0 · excluded $0

• 2c · Program service revenue: All other revenue

  total $2,973,360 · related or exempt $2,973,360 · unrelated business $0 · excluded $0

• 2d · Program service revenue: Philanthrophy and other programs

  total $336,676 · related or exempt $336,676 · unrelated business $0 · excluded $0

• 2e · Program service revenue: Other student fees

  total $786,613 · related or exempt $786,613 · unrelated business $0 · excluded $0

• 2f · All other program service revenue

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

• 3 · Investment income

  total $7,283,243 · related or exempt $398,935 · unrelated business $0 · excluded $6,884,308

• 4 · Income from investment of tax-exempt bond proceeds

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

• 5 · Royalties

  total $315 · related or exempt $315 · unrelated business $0 · excluded $0

• 6a · Gross rents

  real property $5,354,043 · personal property $0

• 6b · Less rental expenses

  real property $3,316,216 · personal property $0

• 6c · Rental income or loss

  real property $2,037,827 · personal property $0

• 6d · Net rental income or loss

  total $2,037,827 · related or exempt $0 · unrelated business $0 · excluded $2,037,827

• 7a · Gross sales of assets other than inventory

  securities $21,032,270 · other assets $0

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

  securities $10,507,377 · other assets $0

• 7c · Gain or loss

  securities $10,524,893 · other assets $0

• 7d · Net gain or loss

  total $10,524,893 · related or exempt $0 · unrelated business $0 · excluded $10,524,893

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

  $0

• 11a · Other revenue: Langford RCI, LLC

  total $387,030 · related or exempt $0 · unrelated business $387,030 · excluded $0

• 11e · Other revenue, total

  $387,030

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $67,148,679 · program services $67,148,679

• 3 · Grants to foreign organizations and individuals

  total $44,500 · program services $44,500

• 5 · Compensation of officers, directors and key employees

  total $3,836,522 · management and general $3,413,015 · fundraising $423,507

• 7 · Other salaries and wages

  total $53,172,256 · program services $47,037,003 · management and general $4,034,020 · fundraising $2,101,233

• 8 · Pension plan contributions

  total $4,929,826 · program services $4,299,073 · management and general $414,705 · fundraising $216,048

• 9 · Other employee benefits

  total $10,626,306 · program services $8,918,257 · management and general $1,201,311 · fundraising $506,738

• 10 · Payroll taxes

  total $3,836,125 · program services $3,171,081 · management and general $479,811 · fundraising $185,233

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $208,195 · program services $16,596 · management and general $191,599

• 11c · Fees: accounting

  total $103,531 · management and general $103,531

• 11e · Fees: professional fundraising services

  total $67,727 · fundraising $67,727

• 11f · Fees: investment management

  total $599,747 · management and general $599,747

• 11g · Fees: other

  total $1,390,475 · program services $1,336,868 · management and general $3,024 · fundraising $50,583

• 12 · Advertising and promotion

  total $728,416 · program services $536,838 · management and general $186,963 · fundraising $4,615

• 13 · Office expenses

  total $4,036,251 · program services $3,594,447 · management and general $199,917 · fundraising $241,887

• 14 · Information technology

  total $3,475,563 · program services $3,234,337 · management and general $194,234 · fundraising $46,992

• 15 · Royalties

  total $9,720 · program services $9,720

• 16 · Occupancy

  total $10,970,644 · program services $8,363,912 · management and general $2,536,206 · fundraising $70,526

• 17 · Travel

  total $5,108,910 · program services $4,300,666 · management and general $526,115 · fundraising $282,129

• 19 · Conferences, conventions and meetings

  total $300,673 · program services $241,636 · management and general $46,748 · fundraising $12,289

• 22 · Depreciation, depletion and amortization

  total $10,968,376 · program services $10,388,756 · management and general $523,464 · fundraising $56,156

• 23 · Insurance

  total $604,247 · program services $552,683 · management and general $37,202 · fundraising $14,362

• 24a · Other expenses: Dining services/food purchase

  total $11,716,728 · program services $11,325,970 · management and general $387,485 · fundraising $3,273

• 24b · Other expenses: Miscellaneous

  total $6,771,954 · program services $4,800,302 · management and general $1,783,273 · fundraising $188,379

• 24c · Other expenses: RMA museum acquisitions

  total $2,139,736 · program services $2,139,736 · management and general $0 · fundraising $0

• 24d · Other expenses: Library periodicals/acquisitions

  total $847,011 · program services $829,447 · management and general $16,780 · fundraising $784

• 24e · All other expenses

  total $5,614,737 · program services $5,292,904 · management and general $309,554 · fundraising $12,279

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $44,700,731 · end of year $49,198,834

• 3 · Pledges and grants receivable

  beginning of year $30,360,010 · end of year $22,532,392

• 4 · Accounts receivable

  beginning of year $1,980,667 · end of year $1,752,272

• 7 · Other notes and loans receivable

  beginning of year $3,255,670 · end of year $1,468,769

• 8 · Inventories for sale or use

  beginning of year $289,343 · end of year $259,045

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,088,891 · end of year $4,271,266

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

  $537,771,485

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

  $206,094,162

• 10c · Land, buildings and equipment, net

  beginning of year $308,037,627 · end of year $331,677,323

• 11 · Investments: publicly traded securities

  beginning of year $440,297,567 · end of year $413,049,479

• 13 · Investments: program-related

  beginning of year $269,281 · end of year $205,390

• 15 · Other assets

  beginning of year $20,424,317 · end of year $19,199,063

• 17 · Accounts payable and accrued expenses

  beginning of year $15,471,437 · end of year $16,463,656

• 19 · Deferred revenue

  beginning of year $8,240,968 · end of year $7,845,173

• 20 · Tax-exempt bond liabilities

  beginning of year $198,868,122 · end of year $218,094,544

• 23 · Secured mortgages and notes payable

  beginning of year $12,408,000 · end of year $10,070,000

• 25 · Other liabilities

  beginning of year $3,387,227 · end of year $2,223,241

• 27 · Net assets without donor restrictions

  beginning of year $141,333,200 · end of year $166,979,277

• 28 · Net assets with donor restrictions

  beginning of year $472,995,150 · end of year $421,937,942

The filer's explanations (Part III)

Schedule J, Part I, Line 1a

In general, companion travel is reimbursable only if the accompanying person has a position with the college and is traveling to make a significant contribution in furtherance of college business. Exceptions to this policy must be approved in advance of travel. President housing/personal services as a condition of employment and for the convenience of the college, the president is required to live in the Barker House on campus. The residence is used frequently for college business including official gatherings of faculty, staff, students, alumni, donors and their families. As part of a program of appropriate and regular maintenance of this house, the college provides cleaning service for the public and private areas. Three officers received an annual membership to a local country club.

Schedule J, Part I, Line 4

Grant Cornwell -Deferred compensation includes $70,118.88 of income that was unearned as of May 31, 2023. Ed Kania - Deferred compensation includes $17,356.54 of income that was unearned as of May 31, 2023. Faye Tydlaska -Deferred compensation includes $20,000 of income that was unearned as of May 31, 2023.

Disregarded entities

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

• Holt Properties LLC

  Acquire real property, commercial property rental · FL · income $2,037,827 · assets $15,502,320

  Directly controlled by Rollins College

• Langford RCI LLC

  Hotel and Conference Center · FL · income $387,030 · assets $79,537,538

  Directly controlled by Rollins College