Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $89,012

• 1e · Government grants (contributions)

  $6,167,461

• 1f · All other contributions, gifts and grants

  $4,095,169

• 1g · Noncash contributions included above

  $36,610

• 2a · Program service revenue: Tuition and Fees

  total $30,723,993 · related or exempt $30,723,993

• 2b · Program service revenue: Auxiliary Enterprises

  total $4,876,917 · related or exempt $4,876,917

• 2c · Program service revenue: Student Finance Charges

  total $271,822 · related or exempt $271,822

• 2d · Program service revenue: Summer Camps

  total $204,396 · related or exempt $204,396

• 2e · Program service revenue: Spirit Store Income

  total $119,917 · related or exempt $119,917

• 2f · All other program service revenue

  total $211,550 · related or exempt $211,550 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $3,810,322 · excluded $3,810,322

• 5 · Royalties

  total $351,126 · excluded $351,126

• 6a · Gross rents

  real property $15,250

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $15,250 · personal property $0

• 6d · Net rental income or loss

  total $15,250 · excluded $15,250

• 7a · Gross sales of assets other than inventory

  securities $9,101,035 · other assets $0

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

  securities $4,694,346 · other assets $130,539

• 7c · Gain or loss

  securities $4,406,689 · other assets -$130,539

• 7d · Net gain or loss

  total $4,276,150 · excluded $4,276,150

• 8a · Fundraising events: gross income

  $35,815

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

  $89,012

• 8b · Fundraising events: direct expenses

  $69,362

• 8c · Net income from fundraising events

  total -$33,547 · excluded -$33,547

• 11d · All other revenue

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

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $17,899,070 · program services $17,899,070

• 5 · Compensation of officers, directors and key employees

  total $1,461,308 · program services $1,171,731 · management and general $251,294 · fundraising $38,283

• 7 · Other salaries and wages

  total $13,381,392 · program services $10,729,698 · management and general $2,301,130 · fundraising $350,564

• 8 · Pension plan contributions

  total $377,167 · program services $279,701 · management and general $87,764 · fundraising $9,702

• 9 · Other employee benefits

  total $1,803,952 · program services $1,344,863 · management and general $412,630 · fundraising $46,459

• 10 · Payroll taxes

  total $1,116,181 · program services $925,600 · management and general $164,440 · fundraising $26,141

• 11b · Fees: legal

  total $18,800 · management and general $18,800

• 11c · Fees: accounting

  total $67,825 · management and general $67,825

• 11f · Fees: investment management

  total $218,382 · management and general $218,382

• 11g · Fees: other

  total $519,442 · program services $0 · management and general $519,442 · fundraising $0

• 12 · Advertising and promotion

  total $10,000 · management and general $10,000

• 13 · Office expenses

  total $588,528 · program services $478,869 · management and general $72,800 · fundraising $36,859

• 14 · Information technology

  total $1,294,871 · program services $796,605 · management and general $409,428 · fundraising $88,838

• 16 · Occupancy

  total $2,929,799 · program services $2,847,856 · management and general $81,943

• 17 · Travel

  total $1,480,245 · program services $1,363,501 · management and general $70,550 · fundraising $46,194

• 20 · Interest

  total $1,047,331 · program services $1,013,689 · management and general $33,642

• 22 · Depreciation, depletion and amortization

  total $3,673,045 · program services $3,460,604 · management and general $212,441

• 23 · Insurance

  total $723,460 · program services $710,703 · management and general $12,757

• 24a · Other expenses: Other Operating Expenses

  total $2,763,884 · program services $1,907,504 · management and general $681,931 · fundraising $174,449

• 24b · Other expenses: Class and Education Fees

  total $1,506,707 · program services $1,506,707

• 24c · Other expenses: Food Service

  total $1,393,986 · program services $1,393,986

• 24d · Other expenses: Bad Debt Expense

  total $354,611 · management and general $354,611

• 24e · All other expenses

  total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $7,501 · end of year $16,757

• 2 · Savings and temporary cash investments

  beginning of year $13,365,641 · end of year $2,399,975

• 3 · Pledges and grants receivable

  beginning of year $3,325,684 · end of year $7,202,031

• 4 · Accounts receivable

  beginning of year $5,632,252 · end of year $3,246,396

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 8 · Inventories for sale or use

  beginning of year $84,669 · end of year $217,819

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,371,449 · end of year $1,451,362

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

  $132,570,910

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

  $57,985,130

• 10c · Land, buildings and equipment, net

  beginning of year $57,822,998 · end of year $74,585,780

• 11 · Investments: publicly traded securities

  beginning of year $56,075,016 · end of year $64,119,981

• 12 · Investments: other securities

  beginning of year $5,616,688 · end of year $3,703,751

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $33,947,336 · end of year $36,400,298

• 17 · Accounts payable and accrued expenses

  beginning of year $5,835,686 · end of year $4,542,554

• 19 · Deferred revenue

  beginning of year $1,582,019 · end of year $1,730,619

• 22 · Loans and payables to officers and key people

  end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $14,803,091 · end of year $25,767,722

• 25 · Other liabilities

  beginning of year $1,797,999 · end of year $1,111,130

• 27 · Net assets without donor restrictions

  beginning of year $35,715,653 · end of year $39,496,542

• 28 · Net assets with donor restrictions

  beginning of year $117,514,786 · end of year $120,695,583

The filer's explanations (Part III)

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

A housing allowance is provided to the University's President and is treated as taxable compensation on their W-2. A housing allowance is provided to the University's Chaplain and is treated as non-taxable compensation under the Ministerial Housing Allowance.

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

The University provides country club dues and university owned auto use to the President and the Vice President of Institutional Advancement, which is common for universities. This is considered part of their compensation and is a taxable benefit.

Related corporations and trusts

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

• Betty Jo Mowry Inc

  C Corporation · Oil & Gas Mining and Extraction · TX · 100% owned · share of income $116,861 · share of assets $135,077 · controlled entity

  Directly controlled by NA

• Perpetual Trusts (5)

  Trust · HOLD ASSETS AND REMIT INCOME TO THE UNIVERSITY · TX · controlled entity

  Directly controlled by McMurry Unviersity