Ithaca College FY2024 filing

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501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$5.4M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $15.6M a year · 4% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$5.4M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $503.0M in investments, Pt X · Ln 11–13
Fine: 0.3 months of spending in cash, plus $503.0M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $71K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$163.1M
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
26
of 30 voting members
Looks good: 26 of 30 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$369.6M
+3% vs prior year
Spent
$332.5M
To programs
88%
Net assets
$711.4M
By yearFY2020–FY2025
Revenue
$369.6M
FY2024▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$365.7M
FY2021$309.7M
FY2022$353.4M
FY2023$358.1M
FY2024$369.6M
FY2025$332.7M
Expenses
$332.5M
FY2024▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$370.5M
FY2021$312.6M
FY2022$313.0M
FY2023$322.0M
FY2024$332.5M
FY2025$344.9M
Net assets
$711.4M
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$632.2M
FY2021$718.0M
FY2022$659.4M
FY2023$681.7M
FY2024$711.4M
FY2025$739.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1938.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $292.4M Management & general 11% · $37.2M Fundraising 1% · $2.8M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

56 people listed on the 990; $5.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$603,903Pt VII · Sec A
Provost & Senior VP Academic Affairs
$292,908Pt VII · Sec A
VP Finance & Administration, CFO
$279,586Pt VII · Sec A
Dean, Hs&hp (thru 06/23)
$269,456Pt VII · Sec A
$242,029Pt VII · Sec A
Dean, Music Theatre and Dance
$229,779Pt VII · Sec A
VP General Counsel & Board Secretary
$226,459Pt VII · Sec A
Dean, Communications
$224,359Pt VII · Sec A

La Jerne Terry Cornish’s $606K as President is at the 52nd percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Shirley M Collado———$666,470$723,985$583,872
La Jerne Terry Cornish$605,968$603,903$507,546$361,470——
Christopher M Biehn—————$396,273
Anne Hogan Thru 0624$379,746$229,779————
Timothy R Carey Thru 0622——$371,591———
Sean F Reid Thru 062020—————$325,780
Melanie Stein$313,894$292,908$274,483$206,878$198,257—
Timothy C Downs$305,827$279,586$254,870———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ithaca College executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Educates, engages, and empowers through theory, practice, and performance.

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3 programs · $275.7M · in their own filed words · FY2023
01

See schedule o

$200.4Mprogram expense
02

See schedule o

$43.6Mprogram expense
03

See schedule o

$31.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 6 funders$71K
See all 6 funders →
Grants paid · 62 grants · $729.4M · 2019–2024
Unitemized GrantFY2024$120,324,737
Unitemized GrantFY2024$427,920
Utica UniversityNY · FY2024$43,418
Unitemized GrantFY2024$33,330
Unitemized GrantFY2024$18,013
Unitemized GrantFY2023$116,569,612
Unitemized GrantFY2023$311,527
Unitemized GrantFY2023$56,660
Unitemized GrantFY2023$24,295
See all 62 grants →

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $49.0M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$39.7M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$5.8M
Federal Perkins Loan Program_federal Capital ContributionsDepartment of Education · ALN 84.038 · Direct$1.6M
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$689K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$599K

Plus 9 smaller programs.

The auditor reported no findings.

Year ending Jun 2024 · $48.7M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$38.4M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$4.7M
Federal Perkins Loan Program_federal Capital ContributionsDepartment of Education · ALN 84.038 · Direct$2.8M
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$1.1M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$504K

Plus 13 smaller programs.

The auditor reported no findings.

Year ending Jun 2023 · $50.0M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$38.3M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$4.8M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$3.7M
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$1.2M
Education and Human ResourcesNational Science Foundation · ALN 47.076 · Direct$511K

Plus 15 smaller programs.

The auditor reported no findings.

Year ending Jun 2022 · $56.0M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$34.4M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$6.9M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$5.0M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$4.9M
Disaster Grants - Public Assistance (presidentially Declared Disasters)Department of Homeland Security · ALN 97.036 · Direct$1.9M

Plus 16 smaller programs.

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$369.6M
Ln 12
Fees for servicesLn 2g$295.8M
Investment incomeLn 3$56.7M
Gifts and grantsLn 1h$15.9M
Money outPt IX
$332.5M
Ln 25
Programscol B$292.4M
Managementcol C$37.2M
Fundraisingcol D$2.8M
Owns and owesPt X
$711.4M
net assets · Ln 32
Cash and savingsLn 1–2$8.5M
Total assetsLn 16$874.5M
LiabilitiesLn 26$163.1M
PeoplePt VI, VII
56
listed · VII A
PaidVII A28
Voting boardVI 1a30
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$15.9M
Government grantsLn 1e$6.2M
Noncash giftsLn 1g$1.3M
Fees for servicesLn 2g$295.8M
Investment incomeLn 3$56.7M
Other incomeLn 4–11$1.2M
Gains on assetsLn 7$46.3M
Total revenueLn 12$369.6M
Assets in detailPt X, end of year
CashLn 1$878K
SavingsLn 2$7.6M
Cash and savings togetherLn 1–2$8.5M
InvestmentsLn 11–13$503.0M
Land, buildings, equipmentLn 10c$341.4M
Other assetsLn 15$9.1M
Total assetsLn 16$874.5M
LiabilitiesLn 26$163.1M
Net assetsLn 32$711.4M
OperationsPt I, VI
EmployeesI 53,899
VolunteersI 622
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$89.1M
Bond issues listedSch K Pt I4
Raised by those issuesSch K Pt I$131.8M
Abroad and in kindSch F, M
Grants to other countriesSch F Pt II–III$5.5M
Noncash gifts receivedSch M Pt I$1.3M
EndowmentSch D · Pt V
LineFY24FY23FY22FY21FY20
End of yearLn 1g$403.2M$373.7M$356.8M$425.2M$337.3M
Given inLn 1b$5.2M$2.0M$3.9M$1.7M$2.1M
SpentLn 1d–1f$15.6M$15.3M$14.1M$14.3M$13.5M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$13.8M$8.5M
InvestmentsLn 11–13$471.5M$503.0M
Land, buildings, equipmentLn 10c$340.8M$341.4M
Total assetsLn 16$849.5M$874.5M
LiabilitiesLn 26$167.8M$163.1M
Net assetsLn 32$681.7M$711.4M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$412K$412K
Grants to domestic individualsLn 2$117.0M$117.0M
Grants and assistance to foreign recipientsLn 3$5.5M$5.5M
Pay of current officers, directors and key staffLn 5$4.8M$1.4M$3.2M$278K
Pay of disqualified personsLn 6$1.1M$1.0M$145K
Other salaries and wagesLn 7$94.5M$80.1M$13.1M$1.3M
Pension plan contributionsLn 8$5.9M$5.0M$775K$75K
Other employee benefitsLn 9$16.7M$14.1M$2.4M$241K
Payroll taxesLn 10$6.7M$5.5M$1.1M$104K
Legal feesLn 11b$407K$407K
Accounting feesLn 11c$226K$226K
Investment management feesLn 11f$1.7M$1.7M
Other fees for servicesLn 11g$3.8M$2.7M$968K$197K
Advertising and promotionLn 12$1.0M$529K$495K$2K
Office expensesLn 13$7.0M$5.7M$1.1M$174K
Information technologyLn 14$8.9M$3.1M$5.6M$185K
OccupancyLn 16$9.1M$8.7M$405K
TravelLn 17$4.0M$3.5M$373K$89K
Conferences, conventions and meetingsLn 19$1.6M$1.1M$368K$127K
InterestLn 20$4.4M$4.4M$52K
Depreciation, depletion and amortizationLn 22$19.9M$18.6M$1.2M$59K
InsuranceLn 23$3.7M$2.6M$1.1M
Other expenses (24a–d)Ln 24$10.7M$10.1M$581K$7K
All other expensesLn 24e$3.3M$1.3M$2.0M$615
Total functional expensesLn 25$332.5M$292.4M$37.2M$2.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 8, 2026 $332.7M$344.9M−$12.2M$739.0M 990 PDF
FY2024 ViewingFiled with the IRS May 9, 2025 $369.6M$332.5M$37.1M$711.4M 990 PDF
FY2023Filed with the IRS May 10, 2024 $358.1M$322.0M$36.1M$681.7M 990 PDF
FY2022Filed with the IRS May 9, 2023 $353.4M$313.0M$40.4M$659.4M 990 PDF
FY2021Filed with the IRS May 3, 2022 $309.7M$312.6M−$2.8M$718.0M 990 PDF
FY2020Filed with the IRS Apr 21, 2021 $365.7M$370.5M−$4.8M$632.2M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $369,578,460 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,066,816$15,872,024
I-9 Program service revenuePrior year $295,367,090$295,840,461
I-10 Investment incomePrior year $49,596,709$56,674,161
I-11 Other revenuePrior year $1,045,459$1,191,814
I-12 Total revenuePrior year $358,076,074$369,578,460
I-13 Grants and similar amounts paidPrior year $120,395,050$122,893,519
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $122,915,951$129,755,073
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $78,659,602$79,850,088
I-18 Total expensesPrior year $321,970,603$332,498,680
I-19 Revenue less expensesPrior year $36,105,471$37,079,780
Part VI · Governance 26 of 30 board members independent, no flags
VI-1a Voting members of the governing body30
VI-1b Independent voting members26
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $369,578,460 across 11 lines filed
Lines not itemized here account for $2,206,820 of total revenue; see the IRS return.
VIII-1e Government grants$6,222,513
VIII-1f All other contributions, gifts and grants$9,649,511
VIII-1g Noncash contributions (included above)$1,254,692
VIII-1h Total contributions, gifts and grants$15,872,024
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $294,110,739$294,110,739
VIII-3 Investment incomeUnrelated business −$933,002 · Excluded from tax $11,301,092$10,368,090
VIII-5 RoyaltiesExcluded from tax $45,385$45,385
VIII-6 Net rental income or lossUnrelated business $1,828 · Excluded from tax $345,354$347,182
VIII-7 Net gain or loss on sales of assetsExcluded from tax $46,306,071$46,306,071
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $322,149$322,149
VIII-12 Total revenueRelated to mission $295,269,193 · Unrelated business −$736,780 · Excluded from tax $59,174,023$369,578,460
Part IX · Statement of functional expenses $332,498,680 across 24 lines filed
IX-1 Grants to domestic organizationsPrograms $411,510$411,510
IX-2 Grants to domestic individualsPrograms $116,962,094$116,962,094
IX-3 Grants and assistance to foreign recipientsPrograms $5,519,915$5,519,915
IX-5 Pay of current officers, directors and key staffPrograms $1,353,888 · Management $3,160,166 · Fundraising $278,294$4,792,348
IX-6 Pay of disqualified personsPrograms $1,001,652 · Management $145,036$1,146,688
IX-7 Other salaries and wagesPrograms $80,113,036 · Management $13,130,834 · Fundraising $1,292,241$94,536,111
IX-8 Pension plan contributionsPrograms $5,049,533 · Management $774,944 · Fundraising $75,319$5,899,796
IX-9 Other employee benefitsPrograms $14,105,447 · Management $2,370,738 · Fundraising $241,470$16,717,655
IX-10 Payroll taxesPrograms $5,468,465 · Management $1,089,868 · Fundraising $104,142$6,662,475
IX-11b Legal feesManagement $407,351$407,351
IX-11c Accounting feesManagement $225,832$225,832
IX-11f Investment management feesManagement $1,729,983$1,729,983
IX-11g Other fees for servicesPrograms $2,657,925 · Management $967,520 · Fundraising $196,960$3,822,405
IX-12 Advertising and promotionPrograms $529,328 · Management $495,250 · Fundraising $1,982$1,026,560
IX-13 Office expensesPrograms $5,725,020 · Management $1,092,717 · Fundraising $174,164$6,991,901
IX-14 Information technologyPrograms $3,121,362 · Management $5,596,248 · Fundraising $184,723$8,902,333
IX-16 OccupancyPrograms $8,720,047 · Management $405,395$9,125,442
IX-17 TravelPrograms $3,531,823 · Management $373,054 · Fundraising $89,325$3,994,202
IX-19 Conferences, conventions and meetingsPrograms $1,093,992 · Management $368,201 · Fundraising $126,751$1,588,944
IX-20 InterestPrograms $4,395,399 · Management $52,311$4,447,710
IX-22 Depreciation, depletion and amortizationPrograms $18,609,476 · Management $1,187,501 · Fundraising $58,787$19,855,764
IX-23 InsurancePrograms $2,622,148 · Management $1,113,711$3,735,859
IX-24 Other expenses (24a–d)Programs $10,109,246 · Management $581,269 · Fundraising $7,237$10,697,752
IX-24e All other expensesPrograms $1,318,160 · Management $1,979,275 · Fundraising $615$3,298,050
IX-25 Total functional expensesPrograms $292,419,466 · Management $37,247,204 · Fundraising $2,832,010$332,498,680
Part X · Balance sheet $874,485,054 assets, 20 lines filed
Asset lines not itemized here account for $1,208,830; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $1,160,564$877,852
X-2 Savings and temporary cash investmentsStart of year $12,589,538$7,642,020
X-3 Pledges and grants receivableStart of year $1,784,828$1,958,610
X-4 Accounts receivableStart of year $5,070,986$3,663,024
X-8 Inventories for sale or useStart of year $595,679$982,925
X-9 Prepaid expenses and deferred chargesStart of year $4,628,990$4,577,078
X-10c Land, buildings and equipment, netStart of year $340,750,868$341,433,732
X-11 Publicly traded securitiesStart of year $290,000,198$259,570,779
X-12 Other securitiesStart of year $181,504,625$243,473,166
X-15 Other assetsStart of year $8,931,622$9,097,038
X-16 Total assetsStart of year $849,515,520$874,485,054
X-17 Accounts payable and accrued expensesStart of year $22,980,358$24,577,839
X-19 Deferred revenueStart of year $3,284,027$3,570,365
X-20 Tax-exempt bond liabilitiesStart of year $93,145,370$89,067,374
X-25 Other liabilitiesStart of year $29,725,273$28,450,060
X-26 Total liabilitiesStart of year $167,843,111$163,091,892
X-27 Net assets without donor restrictionsStart of year $523,678,739$542,092,418
X-28 Net assets with donor restrictionsStart of year $157,993,670$169,300,744
X-32 Total net assets or fund balancesStart of year $681,672,409$711,393,162
X-33 Total liabilities and net assetsStart of year $849,515,520$874,485,054
Part XI · Reconciliation of net assets $711,393,162 net assets at year end
XI-1 Total revenue$369,578,460
XI-2 Total expenses$332,498,680
XI-3 Revenue less expenses$37,079,780
XI-4 Net assets at start of year$681,672,409
XI-5 Net unrealized gains (losses) on investments−$8,311,071
XI-8 Prior period adjustments$273,862
XI-9 Other changes in net assets$678,182
XI-10 Net assets at end of year$711,393,162

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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