Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $151,189

• 1f · All other contributions, gifts and grants

  $5,447,042

• 1g · Noncash contributions included above

  $1,030,907

• 2a · Program service revenue: TUITION AND FEES

  total $27,690,501 · related or exempt $27,690,501

• 2f · All other program service revenue

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

• 3 · Investment income

  total $2,711,540 · unrelated business $140,063 · excluded $2,571,477

• 5 · Royalties

  total $649,630 · unrelated business $25,405 · excluded $624,225

• 6a · Gross rents

  real property $169,612

• 6b · Less rental expenses

  real property $117,106

• 6c · Rental income or loss

  real property $52,506 · personal property $0

• 6d · Net rental income or loss

  total $52,506 · excluded $52,506

• 7a · Gross sales of assets other than inventory

  securities $29,775,851

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

  securities $22,440,078

• 7c · Gain or loss

  securities $7,335,773 · other assets $0

• 7d · Net gain or loss

  total $7,335,773 · excluded $7,335,773

• 10a · Gross sales of inventory

  $7,652,133

• 10b · Cost of goods sold

  $4,950,922

• 10c · Net income from sales of inventory

  total $2,701,211 · related or exempt $2,701,211

• 11a · Other revenue: Season Ticket Sales

  total $76,625 · excluded $76,625

• 11b · Other revenue: Finance Charges

  total $5,050 · excluded $5,050

• 11c · Other revenue: Collections of Minor Nature

  total $1,350 · excluded $1,350

• 11d · All other revenue

  total $23,670 · related or exempt $0 · unrelated business $0 · excluded $23,670

• 11e · Other revenue, total

  $106,695

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $18,557,152 · program services $18,557,152

• 5 · Compensation of officers, directors and key employees

  total $1,031,811 · program services $748,373 · management and general $243,920 · fundraising $39,518

• 6 · Compensation of disqualified persons

  total $178,367 · program services $129,370 · management and general $42,166 · fundraising $6,831

• 7 · Other salaries and wages

  total $10,568,599 · program services $7,665,405 · management and general $2,498,417 · fundraising $404,777

• 8 · Pension plan contributions

  total $452,496 · program services $328,195 · management and general $106,970 · fundraising $17,331

• 9 · Other employee benefits

  total $1,266,640 · program services $918,694 · management and general $299,434 · fundraising $48,512

• 10 · Payroll taxes

  total $793,896 · program services $575,813 · management and general $187,677 · fundraising $30,406

• 11b · Fees: legal

  total $49,588 · program services $35,966 · management and general $11,723 · fundraising $1,899

• 11c · Fees: accounting

  total $242,631 · program services $175,980 · management and general $57,358 · fundraising $9,293

• 11g · Fees: other

  total $4,510,540 · program services $3,271,494 · management and general $1,066,292 · fundraising $172,754

• 12 · Advertising and promotion

  total $186,218 · program services $135,064 · management and general $44,022 · fundraising $7,132

• 13 · Office expenses

  total $817,503 · program services $592,936 · management and general $193,255 · fundraising $31,312

• 14 · Information technology

  total $317,050 · program services $229,956 · management and general $74,951 · fundraising $12,143

• 16 · Occupancy

  total $942,253 · program services $683,416 · management and general $222,749 · fundraising $36,088

• 17 · Travel

  total $1,601,120 · program services $1,161,292 · management and general $378,505 · fundraising $61,323

• 20 · Interest

  total $1,021,746 · program services $741,072 · management and general $241,541 · fundraising $39,133

• 22 · Depreciation, depletion and amortization

  total $2,208,955 · program services $1,602,155 · management and general $522,197 · fundraising $84,603

• 23 · Insurance

  total $440,721 · program services $319,655 · management and general $104,186 · fundraising $16,880

• 24a · Other expenses: EQUIPMENT RENTAL, REPAIRS & MAINTENANCE

  total $473,835 · program services $343,673 · management and general $112,015 · fundraising $18,147

• 24b · Other expenses: TUITION REMISSION

  total $421,638 · program services $305,814 · management and general $99,675 · fundraising $16,149

• 24c · Other expenses: DUES & MEMBERSHIPS

  total $206,768 · program services $149,969 · management and general $48,880 · fundraising $7,919

• 24e · All other expenses

  total $265,135 · program services $192,302 · management and general $62,678 · fundraising $10,155

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $5,026,813

• 2 · Savings and temporary cash investments

  beginning of year $3,193,717

• 3 · Pledges and grants receivable

  beginning of year $13,277,466 · end of year $10,182,694

• 4 · Accounts receivable

  beginning of year $122,464 · end of year $2,263,272

• 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 $33,103 · end of year $224,079

• 9 · Prepaid expenses and deferred charges

  beginning of year $475,747 · end of year $1,429,545

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

  $117,866,301

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

  $67,622,905

• 10c · Land, buildings and equipment, net

  beginning of year $43,353,735 · end of year $50,243,396

• 11 · Investments: publicly traded securities

  beginning of year $102,012,910 · end of year $101,629,399

• 12 · Investments: other securities

  beginning of year $686 · end of year $686

• 13 · Investments: program-related

  beginning of year $0

• 15 · Other assets

  beginning of year $34,476,124 · end of year $37,304,924

• 17 · Accounts payable and accrued expenses

  beginning of year $2,333,993 · end of year $2,588,161

• 18 · Grants payable

  beginning of year $123,773 · end of year $349,078

• 19 · Deferred revenue

  beginning of year $10,936 · end of year $9,559

• 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 $12,932,738 · end of year $27,152,919

• 25 · Other liabilities

  beginning of year $17,404,881 · end of year $7,305,137

• 27 · Net assets without donor restrictions

  beginning of year $1,378,664 · end of year $2,464,300

• 28 · Net assets with donor restrictions

  beginning of year $162,760,967 · end of year $168,435,654

The filer's explanations (Part III)

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

THE ORGANIZATION PROVIDES BENEFITS AS INDICATED IN LINE 1A TO THE ORGANIZATION'S PRESIDENT. ANY NON-BUSINESS OR PERSONAL PORTION OF THE BENEFITS PROVIDED HAS BEEN INCLUDED IN THE RECIPIENT'S FORM W-2 AS TAXABLE COMPENSATION.

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

THE ORGANIZATION PROVIDES BENEFITS AS INDICATED IN LINE 1A TO THE ORGANIZATION'S PRESIDENT. ANY NON-BUSINESS OR PERSONAL PORTION OF THE BENEFITS PROVIDED HAS BEEN INCLUDED IN THE RECIPIENT'S FORM W-2 AS TAXABLE COMPENSATION.

Schedule J, Part I, Line 1b Written policy regarding payment or reimbursement of expenses

THE COLLEGE DOES NOT REIMBURSE FOR FIRST-CLASS TRAVEL. ON AN INFREQUENT BASIS, COLLEGE EMPLOYEES MAY TRAVEL WITH A BOARD OF TRUSTEE MEMBER ON A CHARTER (OR PRIVATELY-OWNED) PLANE ON COLLEGE BUSINESS. SUCH TRAVEL WOULD TYPICALLY INCLUDE THE PRESIDENT OF THE COLLEGE AND BE AUTHORIZED BY THAT PERSON. HOUSING ALLOWANCES ARE PROVIDED BY CONTRACT TO THE COLLEGE PRESIDENT IN LIEU OF COLLEGE-PROVIDED HOUSING. IN ADDITION, UNDER INTERNAL REVENUE SERVICE RULES, COLLEGE CLERGY MAY MAKE HOUSING ALLOWANCE ELECTIONS TO ALLOCATE A PORTION OF THEIR SALARY TO SUCH AN ALLOWANCE. PROVISION AND PAYMENT OF THESE BENEFITS ARE OUTLINED IN EACH INDIVIDUAL'S EMPLOYMENT CONTRACT.

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

THE GOVERNANCE COMMITTEE MEETS WITH THE PRESIDENT ANNUALLY IN THE MONTH OF AUGUST TO ASSESS THE PRESIDENT'S ANNUAL PERFORMANCE. AFTER DELIBERATION IN EXECUTIVE SESSION, THE COMMITTEE DETERMINES HIS BONUS AND ANY INCREASE TO HIS ANNUAL SALARY

Disregarded entities

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

• YONCOPIN PROPERTIES LLC

  REAL ESTATE · LA · income $80,222 · assets -$170,979

  Directly controlled by CENTENARY

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• CENTENARY SIF LP

  Excluded · INVESTMENTS · DE · 99.99% owned

  Directly controlled by CENTENAR Y