Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $51,068

• 1c · Fundraising events

  $393,523

• 1e · Government grants (contributions)

  $9,777,034

• 1f · All other contributions, gifts and grants

  $12,899,154

• 1g · Noncash contributions included above

  $233,907

• 2a · Program service revenue: TUITION AND FEES

  total $230,567,876 · related or exempt $230,567,876

• 2b · Program service revenue: HOUSING

  total $9,424,280 · related or exempt $9,424,280

• 2c · Program service revenue: FOOD SERVICE

  total $7,352,560 · related or exempt $7,352,560

• 2d · Program service revenue: ATHLETICS REVENUE

  total $3,310,334 · related or exempt $3,310,334

• 2e · Program service revenue: CLINIC REVENUE

  total $2,315,309 · related or exempt $2,315,309

• 2f · All other program service revenue

  total $168,923 · related or exempt $168,923 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $7,250,934 · excluded $7,250,934

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

  total $512,741 · excluded $512,741

• 6a · Gross rents

  real property $1,064,903

• 6b · Less rental expenses

  real property $375,195

• 6c · Rental income or loss

  real property $689,708 · personal property $0

• 6d · Net rental income or loss

  total $689,708 · unrelated business $60,564 · excluded $629,144

• 7a · Gross sales of assets other than inventory

  securities $51,095,091

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

  securities $56,423,358

• 7c · Gain or loss

  securities -$5,328,267 · other assets $0

• 7d · Net gain or loss

  total -$5,328,267 · excluded -$5,328,267

• 8a · Fundraising events: gross income

  $126,009

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

  $393,523

• 8b · Fundraising events: direct expenses

  $170,663

• 8c · Net income from fundraising events

  total -$44,654 · excluded -$44,654

• 11a · Other revenue: CHARGES PENALTIES AND FEE

  total $929,407 · related or exempt $929,407

• 11b · Other revenue: PARKING

  total $458,130 · related or exempt $458,130

• 11c · Other revenue: STUDY ABROAD

  total $360,688 · related or exempt $360,688

• 11d · All other revenue

  total $1,204,695 · related or exempt $1,139,719 · unrelated business $64,976 · excluded $0

• 11e · Other revenue, total

  $2,952,920

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $88,699,595 · program services $88,699,595

• 4 · Benefits paid to or for members

  total $0 · program services $0

• 5 · Compensation of officers, directors and key employees

  total $3,493,878 · management and general $3,493,878

• 7 · Other salaries and wages

  total $95,974,486 · program services $78,432,594 · management and general $16,806,050 · fundraising $735,842

• 8 · Pension plan contributions

  total $5,712,366 · program services $4,540,907 · management and general $1,114,685 · fundraising $56,774

• 9 · Other employee benefits

  total $4,471,587 · program services $3,636,987 · management and general $783,315 · fundraising $51,285

• 10 · Payroll taxes

  total $7,293,388 · program services $5,916,560 · management and general $1,322,525 · fundraising $54,303

• 11a · Fees: management

  total $342 · management and general $342

• 11b · Fees: legal

  total $502,397 · program services $188 · management and general $502,209

• 11c · Fees: accounting

  total $648,101 · management and general $648,101

• 11g · Fees: other

  total $11,137,332 · program services $4,378,570 · management and general $6,746,880 · fundraising $11,882

• 12 · Advertising and promotion

  total $2,001,649 · program services $705,563 · management and general $1,292,863 · fundraising $3,223

• 13 · Office expenses

  total $17,636,374 · program services $13,450,755 · management and general $4,103,191 · fundraising $82,428

• 14 · Information technology

  total $6,996,282 · program services $3,367,490 · management and general $3,624,877 · fundraising $3,915

• 16 · Occupancy

  total $10,551,407 · program services $2,333,621 · management and general $8,217,786

• 17 · Travel

  total $4,292,036 · program services $3,660,620 · management and general $628,582 · fundraising $2,834

• 19 · Conferences, conventions and meetings

  total $301,356 · program services $354,851 · management and general $89,478 · fundraising -$142,973

• 20 · Interest

  total $3,844,932 · program services $2,883,699 · management and general $961,233

• 22 · Depreciation, depletion and amortization

  total $8,239,186 · program services $6,167,301 · management and general $2,071,885

• 23 · Insurance

  total $1,901,191 · program services $178,711 · management and general $1,722,480

• 24a · Other expenses: BOOKS PARTICIPANT

  total $4,061,168 · program services $435,665 · management and general $3,625,503

• 24b · Other expenses: BAD DEBT EXPENSES

  total $2,038,254 · program services $287,381 · management and general $1,750,873

• 24c · Other expenses: ROOM & BOARD WAIVER

  total $927,803 · program services $927,803

• 24d · Other expenses: STUDENT ACTIVITIES

  total $618,635 · program services $616,806 · management and general $1,829

• 24e · All other expenses

  total $4,486,414 · program services $3,714,343 · management and general $718,378 · fundraising $53,693

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $331,969 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $39,937,661 · end of year $51,589,947

• 3 · Pledges and grants receivable

  beginning of year $3,472,347 · end of year $11,230,025

• 4 · Accounts receivable

  beginning of year $16,433,900 · end of year $20,682,748

• 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 $1,400,642 · end of year $1,193,448

• 8 · Inventories for sale or use

  beginning of year $316,461 · end of year $320,653

• 9 · Prepaid expenses and deferred charges

  beginning of year $369,017 · end of year $1,179,120

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

  $429,212,328

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

  $123,667,912

• 10c · Land, buildings and equipment, net

  beginning of year $292,225,876 · end of year $305,544,416

• 11 · Investments: publicly traded securities

  beginning of year $115,994,115 · end of year $136,936,972

• 12 · Investments: other securities

  beginning of year $71,771,440 · end of year $31,358,204

• 13 · Investments: program-related

  beginning of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $468,153 · end of year $2,313,664

• 17 · Accounts payable and accrued expenses

  beginning of year $15,113,280 · end of year $16,845,174

• 18 · Grants payable

  beginning of year $1,027,633 · end of year $1,005,377

• 19 · Deferred revenue

  beginning of year $16,369,774 · end of year $11,088,542

• 20 · Tax-exempt bond liabilities

  beginning of year $117,174,868 · end of year $116,433,606

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 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 $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $50,111,075 · end of year $44,145,000

• 25 · Other liabilities

  beginning of year $16,087,049 · end of year $14,329,984

• 27 · Net assets without donor restrictions

  beginning of year $246,884,259 · end of year $255,824,414

• 28 · Net assets with donor restrictions

  beginning of year $79,953,643 · end of year $102,677,100

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $0 · end of year $0

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions

TRAVEL FOR COMPANIONS WAS PROVIDED FOR DR. THOMAS M. EVANS, PRESIDENT. THIS BENEFIT WAS INCLUDED AS TAXABLE COMPENSATION ON HIS FORM W-2.

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

A MONTHLY HOUSING ALLOWANCE TOTALING $75,000 PER YEAR IS PROVIDED TO DR. THOMAS M. EVANS, PRESIDENT. THIS BENEFIT WAS INCLUDED AS TAXABLE COMPENSATION ON HIS FORM W-2.

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

DUES OF $19,895 WERE PAID TO PRIVATE DINING CLUBS DURING 2024 FOR THE PRESIDENT OF THE UNIVERSITY TO CONDUCT BUSINESS. THIS BENEFIT WAS INCLUDED AS TAXABLE COMPENSATION ON HIS FORM W-2.

Schedule J, Part II Key Employees

SISTER WALTER MAHER, VP FOR MISSION & MINISTRY IS NOT LISTED AS A KEY EMPLOYEE ON PART VII OR SCHEDULE J PART II SINCE THERE ARE NO TAXABLE WAGES REPORTED ON FORM W-2 FOR HER. SISTER MAHER'S COMPENSATION IS PAID DIRECTLY TO THE RELIGIOUS CONGREGATION AND NOT TO HER INDIVIDUALLY SINCE SHE TOOK A VOW OF POVERTY. HOWEVER, FOR INFORMATIONAL PURPOSES, COMPENSATION PAID FROM THE ORGANIZATION ON BEHALF OF SISTER MAHER WAS $191,543 AND SHE RECEIVED NON-TAXABLE INSURANCE BENEFITS OF $8,948.