Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $26,760

• 1e · Government grants (contributions)

  $896,956

• 1f · All other contributions, gifts and grants

  $4,739,838

• 1g · Noncash contributions included above

  $553,872

• 2a · Program service revenue: TUITION AND FEES

  total $54,558,762 · related or exempt $54,558,762

• 2b · Program service revenue: AUXILIARY ENTERPRISE REVENUE

  total $10,557,432 · related or exempt $10,557,432

• 2c · Program service revenue: STUDENT SERVICES

  total $1,197,906 · related or exempt $1,197,906

• 3 · Investment income

  total $2,447,390 · unrelated business $8 · excluded $2,447,382

• 7a · Gross sales of assets other than inventory

  securities $49,500,714 · other assets $1,897,470

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

  securities $43,810,684 · other assets $1,092,854

• 7c · Gain or loss

  securities $5,690,030 · other assets $804,616

• 7d · Net gain or loss

  total $6,494,646 · unrelated business $2,023 · excluded $6,492,623

• 8a · Fundraising events: gross income

  $29,559

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

  $26,760

• 8b · Fundraising events: direct expenses

  $12,152

• 8c · Net income from fundraising events

  total $17,407 · excluded $17,407

• 11a · Other revenue: PARTNERSHIP INCOME

  total $328,784 · unrelated business -$22,255 · excluded $351,039

• 11e · Other revenue, total

  $328,784

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $37,633,661 · program services $37,633,661

• 3 · Grants to foreign organizations and individuals

  total $308,357 · program services $308,357

• 5 · Compensation of officers, directors and key employees

  total $652,374 · program services $291,385 · management and general $290,533 · fundraising $70,456

• 7 · Other salaries and wages

  total $21,408,491 · program services $18,853,451 · management and general $1,721,938 · fundraising $833,102

• 8 · Pension plan contributions

  total $957,361 · program services $766,071 · management and general $132,017 · fundraising $59,273

• 9 · Other employee benefits

  total $2,371,423 · program services $2,241,441 · management and general $89,706 · fundraising $40,276

• 10 · Payroll taxes

  total $1,503,069 · program services $1,306,987 · management and general $135,324 · fundraising $60,758

• 11b · Fees: legal

  total $160,471 · program services $46,536 · management and general $78,631 · fundraising $35,304

• 11c · Fees: accounting

  total $153,432 · program services $47,372 · management and general $73,196 · fundraising $32,864

• 11e · Fees: professional fundraising services

  total $319,813 · fundraising $319,813

• 11f · Fees: investment management

  total $795,515 · program services $795,515

• 11g · Fees: other

  total $4,239,187 · program services $2,597,957 · management and general $1,116,012 · fundraising $525,218

• 12 · Advertising and promotion

  total $139,683 · program services $102,301 · management and general $25,799 · fundraising $11,583

• 13 · Office expenses

  total $957,833 · program services $843,408 · management and general $78,969 · fundraising $35,456

• 14 · Information technology

  total $2,799,265 · program services $922,706 · management and general $1,295,090 · fundraising $581,469

• 16 · Occupancy

  total $6,240,934 · program services $5,260,321 · management and general $676,761 · fundraising $303,852

• 17 · Travel

  total $1,651,706 · program services $1,539,501 · management and general $77,437 · fundraising $34,768

• 19 · Conferences, conventions and meetings

  total $67,125 · program services $58,730 · management and general $5,794 · fundraising $2,601

• 20 · Interest

  total $2,204,752 · program services $2,032,091 · management and general $119,160 · fundraising $53,501

• 22 · Depreciation, depletion and amortization

  total $2,795,719 · program services $2,356,439 · management and general $303,165 · fundraising $136,115

• 23 · Insurance

  total $1,189,215 · program services $1,072,849 · management and general $80,309 · fundraising $36,057

• 24a · Other expenses: PROGRAM COSTS

  total $5,250,954 · program services $5,149,096 · management and general $78,683 · fundraising $23,175

• 24b · Other expenses: DUES AND MEMBERSHIPS

  total $579,466 · program services $409,214 · management and general $117,498 · fundraising $52,754

• 24c · Other expenses: EXPENSED EQUIPMENT

  total $550,713 · program services $507,797 · management and general $29,618 · fundraising $13,298

• 24e · All other expenses

  total $1,800,399 · program services $1,642,505 · management and general $108,969 · fundraising $48,925

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,670 · end of year $2,672

• 2 · Savings and temporary cash investments

  beginning of year $3,276,344 · end of year $14,448,497

• 3 · Pledges and grants receivable

  beginning of year $4,440,733 · end of year $2,444,734

• 4 · Accounts receivable

  beginning of year $7,170,249 · end of year $2,446,506

• 9 · Prepaid expenses and deferred charges

  beginning of year $547,356 · end of year $581,221

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

  $182,527,101

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

  $139,433,519

• 10c · Land, buildings and equipment, net

  beginning of year $44,875,756 · end of year $43,093,582

• 11 · Investments: publicly traded securities

  beginning of year $42,915,150 · end of year $28,191,031

• 12 · Investments: other securities

  beginning of year $52,489,297 · end of year $50,490,575

• 13 · Investments: program-related

  beginning of year $3,106,969 · end of year $2,657,026

• 15 · Other assets

  beginning of year $9,416,437 · end of year $10,227,256

• 17 · Accounts payable and accrued expenses

  beginning of year $4,420,917 · end of year $5,902,002

• 19 · Deferred revenue

  beginning of year $880,586 · end of year $753,876

• 20 · Tax-exempt bond liabilities

  beginning of year $38,209,272 · end of year $36,760,123

• 23 · Secured mortgages and notes payable

  beginning of year $6,155,549 · end of year $5,935,944

• 25 · Other liabilities

  beginning of year $9,349,821 · end of year $8,490,709

• 27 · Net assets without donor restrictions

  beginning of year -$21,278,171 · end of year -$18,521,125

• 28 · Net assets with donor restrictions

  beginning of year $130,503,987 · end of year $115,261,571

The filer's explanations (Part III)

PART I, LINE 1A

DR. MICHAEL L. FRANDSEN WAS HIRED IN JULY 2017. HE RECEIVES PERSONAL USE OF A RESIDENCE, A CAR AND A CLUB MEMBERSHIP. THE CLUB MEMBERSHIP AND THE CAR ARE INCLUDED IN HIS TAXABLE COMPENSATION REPORTED ON SCHEDULE J, PART II. THE PERSONAL USE OF A RESIDENCE IS NOT INCLUDED IN 2023 TAXABLE COMPENSATION BUT IS REPORTED IN COLUMN D AS A NONTAXABLE BENEFIT. THE RESIDENCE IS FURNISHED FOR THE CONVENIENCE OF WITTENBERG UNIVERSITY AND THE ANNUAL VALUE OF THE RESIDENCE IS $24,000. THE VALUE OF UTILITIES, HOUSEKEEPING, SUPPLIES, AND OTHER HOME EXPENSES IS $58,000, WHICH IS ALSO REPORTED IN COLUMN D AS A NONTAXABLE BENEFIT. THE RESIDENCE IS AVAILABLE FOR USE TO HOST FACULTY, STAFF, AND STUDENT FUNCTIONS. THE PRESIDENT IS REQUIRED TO LIVE IN THE RESIDENCE AS A CONDITION OF EMPLOYMENT AND THE RESIDENCE IS CONTIGUOUS TO WITTENBERG'S CAMPUS.

PART I, LINE 4B

DURING THE YEAR THERE WAS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PAYMENT MADE PURSUANT TO A CONFIDENTIAL AGREEMENT. ALL AMOUNTS PAID HAVE BEEN PROPERLY REPORTED ON FORM W-2 AND REPORTED IN FORM 990, PART VII, COLUMN D, AND ALSO IN SCHEDULE J, PART II, COLUMN B(III).

Related partnerships

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

• 1929 FIELDHOUSE LLC

  0 · CONSTRUCTION OF HEALTH, WELLNESS, & ATHLETICS FACILITY · OH · 100% owned · share of assets $56,998,971

  Directly controlled by WITTENBERG UNIVERSITY

• 1929 FIELDHOUSE MASTER TENANT LLC

  0 · SUPPORTING WITTENBERG UNIVERSITY'S LONG-TERM FACILITY NEEDS · OH · 100% owned · share of assets $41,115,731

  Directly controlled by WITTENBERG UNIVERSITY

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUST (1)

  T · TRUST · AZ

• CHARITABLE REMAINDER TRUST (1)

  T · TRUST · CT

• CHARITABLE REMAINDER TRUSTS (2)

  T · TRUST · IN

• CHARITABLE REMAINDER TRUST (1)

  T · TRUST · NY

• CHARITABLE REMAINDER TRUSTS (1)

  T · TRUST · OH

• CHARITABLE REMAINDER TRUSTS (2)

  T · TRUST · OR

• CHARITABLE REMAINDER TRUST (1)

  T · TRUST · VT

• 1929 MASTER TENANT MANAGING MEMBER INC

  C · SUPPORT WITTENBERG UNIVERSITY'S LONG-TERM FACILITY NEEDS · OH · share of income $1,488 · share of assets $323,118 · controlled entity

  Directly controlled by WITTENBERG UNIVERSITY

• 1929 MANAGING MEMBER INC

  C · SUPPORT WITTENBERG UNIVERSITY'S LONG-TERM FACILITY NEEDS · OH · share of income $498,064 · share of assets $51,958,854