Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,041,507

• 1e · Government grants (contributions)

  $34,292,434

• 1f · All other contributions, gifts and grants

  $20,052,512

• 1g · Noncash contributions included above

  $772,933

• 2a · Program service revenue: TUITION & FEES

  total $489,513,369 · related or exempt $489,513,369

• 2b · Program service revenue: SALES & SVC AUX ENT

  total $44,829,880 · related or exempt $44,442,890 · unrelated business $386,990

• 2c · Program service revenue: SALES & SVC ED EQPT

  total $5,034,224 · related or exempt $5,034,224

• 2d · Program service revenue: OTHER SOURCE ED SV

  total $19,306,448 · related or exempt $19,306,448

• 3 · Investment income

  total $24,405,019 · unrelated business $93,689 · excluded $24,311,330

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

  total $0

• 5 · Royalties

  total $0

• 6a · Gross rents

  real property $328,650

• 6b · Less rental expenses

  real property $55,181

• 6c · Rental income or loss

  real property $273,469 · personal property $0

• 6d · Net rental income or loss

  total $273,469 · excluded $273,469

• 7a · Gross sales of assets other than inventory

  securities $224,516,653

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

  securities $209,273,457

• 7c · Gain or loss

  securities $15,243,196

• 7d · Net gain or loss

  total $15,243,196 · excluded $15,243,196

• 8a · Fundraising events: gross income

  $391,597

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

  $1,041,507

• 8b · Fundraising events: direct expenses

  $850,789

• 8c · Net income from fundraising events

  total -$459,192 · excluded -$459,192

• 9a · Gaming: gross income

  $18,845

• 9b · Gaming: direct expenses

  $36,566

• 9c · Net income from gaming

  total -$17,721 · excluded -$17,721

• 10a · Gross sales of inventory

  $0

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $40,000 · program services $40,000

• 2 · Grants to domestic individuals

  total $199,852,254 · program services $199,852,254

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $6,169,783 · program services $1,194,658 · management and general $4,372,031 · fundraising $603,094

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $209,066,456 · program services $187,684,699 · management and general $18,643,023 · fundraising $2,738,734

• 8 · Pension plan contributions

  total $17,289,360 · program services $14,963,404 · management and general $2,033,220 · fundraising $292,736

• 9 · Other employee benefits

  total $45,101,372 · program services $38,210,499 · management and general $5,966,780 · fundraising $924,093

• 10 · Payroll taxes

  total $14,255,841 · program services $12,485,212 · management and general $1,558,515 · fundraising $212,114

• 11a · Fees: management

  total $8,915,808 · program services $7,212,831 · management and general $1,702,977

• 11b · Fees: legal

  total $1,321,051 · program services $141,673 · management and general $1,179,378

• 11c · Fees: accounting

  total $330,519 · program services $22,229 · management and general $308,290

• 11d · Fees: lobbying

  total $175,552 · management and general $175,552

• 11e · Fees: professional fundraising services

  total $420,000 · fundraising $420,000

• 11f · Fees: investment management

  total $6,817,992 · management and general $6,817,992

• 11g · Fees: other

  total $0

• 12 · Advertising and promotion

  total $1,277,245 · program services $371,175 · management and general $903,841 · fundraising $2,229

• 13 · Office expenses

  total $20,624,801 · program services $18,408,958 · management and general $1,963,045 · fundraising $252,798

• 14 · Information technology

  total $9,513,651 · program services $7,518,110 · management and general $1,980,489 · fundraising $15,052

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $11,861,321 · program services $10,859,609 · management and general $969,286 · fundraising $32,426

• 17 · Travel

  total $13,172,783 · program services $12,600,729 · management and general $336,953 · fundraising $235,101

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $523,006 · program services $480,354 · management and general $38,304 · fundraising $4,348

• 20 · Interest

  total $6,093,892 · program services $6,049,085 · management and general $44,807

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $22,624,906 · program services $17,253,461 · management and general $5,371,445

• 23 · Insurance

  total $5,963,751 · program services $1,241,025 · management and general $4,722,726

• 24a · Other expenses: BAD DEBT AND COLLECTION COST

  total $4,608,249 · program services $4,608,249

• 24b · Other expenses: MEDICAL SCHOOL STIPENDS

  total $1,652,808 · program services $1,652,808

• 24c · Other expenses: OTHER MISC

  total $8,879,182 · program services $4,197,160 · management and general $4,440,554 · fundraising $241,468

• 24d · Other expenses: CO-SPONSORED PROGRAM EXPENSE

  total $766,256 · program services $766,256

• 24e · All other expenses

  total $94,023 · program services $94,023

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $0

• 2 · Savings and temporary cash investments

  beginning of year $176,957,062 · end of year $124,836,068

• 3 · Pledges and grants receivable

  beginning of year $10,174,396 · end of year $39,215,952

• 4 · Accounts receivable

  beginning of year $5,573,867 · end of year $5,839,048

• 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 $17,936,185 · end of year $18,501,499

• 8 · Inventories for sale or use

  beginning of year $9,815 · end of year $6,975

• 9 · Prepaid expenses and deferred charges

  beginning of year $9,336,390 · end of year $11,792,313

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

  $773,363,529

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

  $409,793,332

• 10c · Land, buildings and equipment, net

  beginning of year $324,719,407 · end of year $363,570,197

• 11 · Investments: publicly traded securities

  beginning of year $423,448,077 · end of year $487,210,290

• 12 · Investments: other securities

  beginning of year $375,157,733 · end of year $384,044,986

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $52,418,424 · end of year $34,841,976

• 17 · Accounts payable and accrued expenses

  beginning of year $32,657,620 · end of year $27,651,879

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $118,685,563 · end of year $122,587,994

• 20 · Tax-exempt bond liabilities

  beginning of year $212,127,787 · end of year $202,454,874

• 21 · Escrow or custodial account liability

  beginning of year $1,117,719 · end of year $790,452

• 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 $3,510,025 · end of year $4,886,287

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $41,726,861 · end of year $36,630,053

• 27 · Net assets without donor restrictions

  beginning of year $620,686,328 · end of year $682,311,287

• 28 · Net assets with donor restrictions

  beginning of year $365,219,454 · end of year $392,546,478

The filer's explanations (Part III)

Schedule J, Part I, Line 1a

Officer Compensation All items identified on Line 1a are included as compensation on both the employee's W2 and on Form 990, Schedule J.

Schedule J, Part I, Line 1b

Payments or reimbursements are pursuant to written agreements.

Schedule J, Part I, Line 8

President Poser was appointed effective 8/1/2021, subject to a written employment contract, which was approved by the Compensation Committee and Board of Trustees. An independent compensation consultant was retained in connection with the employment contract.

Schedule J, Part II

The president is a nonvoting member of the Board of Trustees.

Schedule J, Part II, Items C and D

Compensation In accordance with IRS regulations, items reported in columns C and D include University contributions to group retirement and nontaxable group benefits paid by the University. These items include the University's contribution to a qualified 403(b) plan, with contributions varying based on length of service, as limited by IRS regulations; the University-paid portion of group health care benefits (cost vary by employee selected plan); and the University-paid costs of other nontaxable benefits including life and disability insurance, and tuition payments. All group benefits apply equally to all non union employees or as set forth in collective bargaining agreements. The University contributes to retiree health and life benefits for former employees, including former officers, based on retirement date which varies by unit.

Related corporations and trusts

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

• Charitable Remainder Unitrust (2)

  TRUST · TRUST · NY

  Directly controlled by NA

• Charitable Remainder Annuity Trust (3)

  TRUST · TRUST · NY

  Directly controlled by NA