Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $1,403,491

• 1f · All other contributions, gifts and grants

  $5,018,439

• 1g · Noncash contributions included above

  $40,728

• 2a · Program service revenue: STUDENT TUITION/FEES

  total $22,973,228 · related or exempt $22,973,228

• 2b · Program service revenue: AUXILIARY ENTERPRISES

  total $3,753,047 · related or exempt $3,753,047

• 3 · Investment income

  total $382,964 · excluded $382,964

• 6a · Gross rents

  real property $18,900

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $18,900

• 6d · Net rental income or loss

  total $18,900 · excluded $18,900

• 7a · Gross sales of assets other than inventory

  securities $2,771,017

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

  securities $2,800,341

• 7c · Gain or loss

  securities -$29,324

• 7d · Net gain or loss

  total -$29,324 · excluded -$29,324

• 10a · Gross sales of inventory

  $154,954

• 10b · Cost of goods sold

  $151,438

• 10c · Net income from sales of inventory

  total $3,516 · related or exempt $3,516

• 11a · Other revenue: OTHER REVENUE

  total $365,617 · excluded $365,617

• 11e · Other revenue, total

  $365,617

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $12,815,934 · program services $12,815,934

• 5 · Compensation of officers, directors and key employees

  total $770,072 · program services $462,043 · management and general $308,029

• 7 · Other salaries and wages

  total $10,430,180 · program services $9,140,424 · management and general $758,789 · fundraising $530,967

• 8 · Pension plan contributions

  total $194,596 · program services $166,885 · management and general $18,502 · fundraising $9,209

• 9 · Other employee benefits

  total $1,759,950 · program services $1,515,302 · management and general $168,030 · fundraising $76,618

• 10 · Payroll taxes

  total $779,492 · program services $668,490 · management and general $74,114 · fundraising $36,888

• 11b · Fees: legal

  total $26,553 · management and general $26,553

• 11c · Fees: accounting

  total $72,090 · management and general $72,090

• 11f · Fees: investment management

  total $88,541 · management and general $88,541

• 11g · Fees: other

  total $699,034 · program services $651,764 · management and general $1,084 · fundraising $46,186

• 12 · Advertising and promotion

  total $214,377 · program services $72,455 · management and general $82,308 · fundraising $59,614

• 13 · Office expenses

  total $2,426,901 · program services $2,040,907 · management and general $346,677 · fundraising $39,317

• 14 · Information technology

  total $1,124,401 · program services $1,108,123 · management and general $16,278

• 16 · Occupancy

  total $168,124 · program services $111,936 · management and general $6,898 · fundraising $49,290

• 17 · Travel

  total $521,419 · program services $324,814 · management and general $186,719 · fundraising $9,886

• 20 · Interest

  total $431,836 · program services $353,750 · management and general $51,136 · fundraising $26,950

• 22 · Depreciation, depletion and amortization

  total $1,473,171 · program services $1,256,465 · management and general $156,384 · fundraising $60,322

• 23 · Insurance

  total $481,980 · program services $339,622 · management and general $142,358

• 24a · Other expenses: ALL OTHER EXPENSES

  total $2,505,063 · program services $2,201,763 · management and general $216,712 · fundraising $86,588

• 24b · Other expenses: BAD DEBT EXPENSE

  total $496,055 · program services $152,201 · management and general $198,422 · fundraising $145,432

• 24c · Other expenses: MEMBERSHIP & DUES

  total $66,316 · program services $42,695 · management and general $19,803 · fundraising $3,818

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,556

• 2 · Savings and temporary cash investments

  beginning of year $2,204,266 · end of year $1,580,447

• 3 · Pledges and grants receivable

  beginning of year $3,082,131 · end of year $6,240,459

• 4 · Accounts receivable

  beginning of year $827,181 · end of year $1,021,658

• 9 · Prepaid expenses and deferred charges

  beginning of year $65,000 · end of year $130,087

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

  $51,754,741

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

  $33,509,812

• 10c · Land, buildings and equipment, net

  beginning of year $18,149,695 · end of year $18,244,929

• 11 · Investments: publicly traded securities

  beginning of year $17,495,475 · end of year $14,835,453

• 13 · Investments: program-related

  beginning of year $1,329,249 · end of year $1,176,190

• 15 · Other assets

  beginning of year $0 · end of year $733,420

• 17 · Accounts payable and accrued expenses

  beginning of year $1,659,605 · end of year $1,973,225

• 19 · Deferred revenue

  beginning of year $1,632,485 · end of year $2,316,743

• 23 · Secured mortgages and notes payable

  beginning of year $9,657,503 · end of year $11,967,225

• 25 · Other liabilities

  beginning of year $2,579,487 · end of year $3,819,407

• 27 · Net assets without donor restrictions

  beginning of year $8,765,396 · end of year $2,396,392

• 28 · Net assets with donor restrictions

  beginning of year $18,864,077 · end of year $21,489,651

The filer's explanations (Part III)

PART I, LINE 1A

THE PRESIDENT RECEIVED A HOUSING ALLOWANCE AND CONTRY CLUB MEMBERSHIP. BOTH WERE INCLUDED AS PART OF THEIR TAXABLE INCOME ON THEIR W-2.