Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $48,678

• 1e · Government grants (contributions)

  $1,594,052

• 1f · All other contributions, gifts and grants

  $1,769,940

• 2a · Program service revenue: TUITION AND FEES

  total $12,864,235 · related or exempt $12,864,235

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $3,763,449 · related or exempt $3,763,449

• 3 · Investment income

  total $496,373 · excluded $496,373

• 6a · Gross rents

  real property $13,913

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $13,913

• 6d · Net rental income or loss

  total $13,913 · excluded $13,913

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

  securities $865,648

• 7c · Gain or loss

  securities -$865,648

• 7d · Net gain or loss

  total -$865,648 · excluded -$865,648

• 8a · Fundraising events: gross income

  $0

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

  $48,678

• 8b · Fundraising events: direct expenses

  $2,088

• 8c · Net income from fundraising events

  total -$2,088 · excluded -$2,088

• 11a · Other revenue: OTHER INCOME

  total $344,527 · unrelated business $10,800 · excluded $333,727

• 11e · Other revenue, total

  $344,527

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $3,894,641 · program services $3,894,641

• 5 · Compensation of officers, directors and key employees

  total $647,398 · program services $356,069 · management and general $181,271 · fundraising $110,058

• 7 · Other salaries and wages

  total $7,932,809 · program services $6,108,263 · management and general $1,507,234 · fundraising $317,312

• 9 · Other employee benefits

  total $1,005,551 · program services $774,274 · management and general $191,055 · fundraising $40,222

• 10 · Payroll taxes

  total $613,323 · program services $472,259 · management and general $116,531 · fundraising $24,533

• 11a · Fees: management

  total $358,042 · program services $53,706 · management and general $304,336

• 11b · Fees: legal

  total $112,499 · management and general $112,499

• 11c · Fees: accounting

  total $126,862 · program services $20,298 · management and general $106,564

• 13 · Office expenses

  total $1,002,307 · program services $309,406 · management and general $566,027 · fundraising $126,874

• 14 · Information technology

  total $1,035,554 · program services $621,332 · management and general $414,222

• 16 · Occupancy

  total $3,012,515 · program services $1,946,058 · management and general $1,066,457

• 17 · Travel

  total $160,025 · program services $40,006 · management and general $100,816 · fundraising $19,203

• 20 · Interest

  total $498,027 · management and general $498,027

• 22 · Depreciation, depletion and amortization

  total $1,320,117 · program services $1,320,117

• 23 · Insurance

  total $363,071 · program services $235,996 · management and general $127,075

• 24a · Other expenses: UNRELATED BUSINESS INCO

  total $6,827 · management and general $6,827

• 24b · Other expenses: ACADEMIC PROGRAMS

  total $1,557,525 · program services $1,557,525

• 24c · Other expenses: FOOD EXPENSE

  total $1,222,775 · program services $1,222,775

• 24d · Other expenses: ATHLETIC PROGRAMS

  total $1,020,869 · program services $1,020,869

• 24e · All other expenses

  total $966,037 · program services $966,037

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,687,384 · end of year $639,587

• 3 · Pledges and grants receivable

  beginning of year $8,339 · end of year $0

• 4 · Accounts receivable

  beginning of year $1,642,079 · end of year $335,037

• 7 · Other notes and loans receivable

  beginning of year $664,901 · end of year $434,782

• 8 · Inventories for sale or use

  beginning of year $42,192 · end of year $57,179

• 9 · Prepaid expenses and deferred charges

  beginning of year $261,330 · end of year $245,621

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

  $46,148,655

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

  $23,412,808

• 10c · Land, buildings and equipment, net

  beginning of year $23,278,228 · end of year $22,735,847

• 11 · Investments: publicly traded securities

  beginning of year $21,602,724 · end of year $22,791,769

• 15 · Other assets

  beginning of year $804,325 · end of year $835,784

• 17 · Accounts payable and accrued expenses

  beginning of year $1,346,199 · end of year $1,368,740

• 19 · Deferred revenue

  beginning of year $8,610 · end of year $5,255

• 23 · Secured mortgages and notes payable

  beginning of year $14,659,283 · end of year $15,084,660

• 25 · Other liabilities

  beginning of year $1,536,380 · end of year $1,342,545

• 27 · Net assets without donor restrictions

  beginning of year $8,840,193 · end of year $3,471,540

• 28 · Net assets with donor restrictions

  beginning of year $25,600,837 · end of year $26,802,866

The filer's explanations (Part III)

PART I, LINE 1A

HOUSING IS PROVIDED TO THE PRESIDENT AND THE COLLEGE PAYS THE MONTHLY MORTGAGE PAYMENTS AND ANY REPAIRS AND MAINTENANCE FOR THE HOME. MONTHLY MEMBERSHIP TO THE GREENSBORO COUNTRY CLUB IS PROVIDED TO THE PRESIDENT.

Disregarded entities

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

• GREENSBORO COLLEGE PROPERTY FOUNDATION LLC

  PROPERTY HOLDING COMPANY · NC · assets $225,318

  Directly controlled by GREENSBORO COLLEGE INC