Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $513,818

• 1f · All other contributions, gifts and grants

  $5,538,907

• 1g · Noncash contributions included above

  $992,074

• 2a · Program service revenue: TUITION AND FEES

  total $36,076,567 · related or exempt $36,076,567

• 2b · Program service revenue: HOUSING, FOOD AND OTHER SERVICES

  total $7,000,136 · related or exempt $7,000,136

• 3 · Investment income

  total $1,089,483 · excluded $1,089,483

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

  securities $674,072

• 7c · Gain or loss

  securities -$674,072

• 7d · Net gain or loss

  total -$674,072 · excluded -$674,072

• 11a · Other revenue: OTHER INCOME

  total $398,617 · related or exempt $398,617

• 11e · Other revenue, total

  $398,617

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $19,004,376 · program services $19,004,376

• 7 · Other salaries and wages

  total $12,971,737 · program services $10,718,029 · management and general $1,860,697 · fundraising $393,011

• 9 · Other employee benefits

  total $2,538,247 · program services $1,957,168 · management and general $509,562 · fundraising $71,517

• 11f · Fees: investment management

  total $171,146 · management and general $171,146

• 11g · Fees: other

  total $4,640,565 · program services $4,180,534 · management and general $347,387 · fundraising $112,644

• 12 · Advertising and promotion

  total $299,150 · program services $12,474 · management and general $286,676

• 16 · Occupancy

  total $1,464,849 · program services $1,280,134 · management and general $184,715

• 17 · Travel

  total $1,117,233 · program services $1,089,206 · management and general $23,063 · fundraising $4,964

• 19 · Conferences, conventions and meetings

  total $81,957 · program services $67,816 · management and general $14,141

• 20 · Interest

  total $1,640,124 · program services $1,506,022 · management and general $134,102

• 22 · Depreciation, depletion and amortization

  total $2,880,500 · program services $2,644,299 · management and general $236,201

• 23 · Insurance

  total $477,909 · program services $218,543 · management and general $259,366

• 24a · Other expenses: PROGRAM AND OFFICE SUPP

  total $1,317,019 · program services $1,183,671 · management and general $72,793 · fundraising $60,555

• 24b · Other expenses: OTHER EXPENSES

  total $1,054,084 · program services $592,530 · management and general $453,061 · fundraising $8,493

• 24c · Other expenses: OPERATIONS & MAINTENANC

  total $735,411 · program services $672,970 · management and general $61,528 · fundraising $913

• 24d · Other expenses: MEMBERSHIPS AND SUBSCRI

  total $444,243 · program services $323,085 · management and general $110,091 · fundraising $11,067

• 24e · All other expenses

  total $288,240 · program services $209,305 · management and general $48,644 · fundraising $30,291

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,743,978 · end of year $604,385

• 2 · Savings and temporary cash investments

  beginning of year $529,588 · end of year $372,458

• 3 · Pledges and grants receivable

  beginning of year $3,595,224 · end of year $4,926,252

• 4 · Accounts receivable

  beginning of year $1,180,309 · end of year $2,212,280

• 7 · Other notes and loans receivable

  beginning of year $70,710 · end of year $53,510

• 8 · Inventories for sale or use

  beginning of year $38,895 · end of year $38,895

• 9 · Prepaid expenses and deferred charges

  beginning of year $126,175 · end of year $82,563

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

  $94,659,707

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

  $41,286,625

• 10c · Land, buildings and equipment, net

  beginning of year $54,020,960 · end of year $53,373,082

• 11 · Investments: publicly traded securities

  beginning of year $21,667,232 · end of year $23,354,798

• 12 · Investments: other securities

  beginning of year $7,454,969 · end of year $5,417,945

• 15 · Other assets

  beginning of year $2,659,420 · end of year $2,630,609

• 17 · Accounts payable and accrued expenses

  beginning of year $3,830,208 · end of year $3,717,383

• 19 · Deferred revenue

  beginning of year $2,569,484 · end of year $2,344,477

• 20 · Tax-exempt bond liabilities

  beginning of year $24,397,479 · end of year $23,918,661

• 23 · Secured mortgages and notes payable

  beginning of year $8,798,032 · end of year $8,096,417

• 24 · Unsecured notes and loans payable

  beginning of year $15,000 · end of year $250,000

• 25 · Other liabilities

  beginning of year $654,284 · end of year $1,021,608

• 27 · Net assets without donor restrictions

  beginning of year $16,908,961 · end of year $16,443,945

• 28 · Net assets with donor restrictions

  beginning of year $35,914,012 · end of year $37,274,286

The filer's explanations (Part III)

PART I, LINE 1A

THE COLLEGE PROVIDES HOUSING TO THE PRESIDENT FOR THE CONVENIENCE OF THE EMPLOYER SO THAT THE PRESIDENT CAN PERFORM ESSENTIAL COLLEGE BUSINESS AND ACTIVITIES AT THE HOME. ADDITIONALLY, THE PRESIDENT WAS PROVIDED A MEMBERSHIP AT A LOCAL COUNTRY CLUB TO BE USED FOR BUSINESS PURPOSES AND FUNDRAISING ACTIVITIES. USE OF THE MEMBERSHIP IS WELL DOCUMENTED.