Waldorf Lutheran College Foundation INC EIN 27-4358184

Waldorf Lutheran College Foundation INC

EIN  27-4358184 Higher education institution Forest City, IA Founded 2011
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/8/26 · see original filing: IRS
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Size
$10–100M
What they do
Supports Waldorf University students and programs through financial aid and educational experiences.
Leadership
Robert Alsop · CEO · $233K
Money in and out
$28.2M revenue, $26.4M expenses
Bottom line
+6% operating surplus

Supports Waldorf University students and programs through financial aid and educational experiences. For fiscal year 2024 it reported $28.2M in revenue, $26.4M in expenses, and $19.4M in net assets.Pt I

Financial scale & money flow · FY2024
Total revenue
$28.2M
Pt VIII · Ln 12
Total expenses
$26.4M
Pt IX · Ln 25
Net assets
$19.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $1.8M
Where spending went · Part IX cols B–D
Program services $0.25 Management & general $0.75 Fundraising $0.00
Operating surplus
+6%
revenue over expenses, this legal entity▲ +26% vs prior filing year
Payroll share
58%
of this entity's spending is salaries & benefits▼ -5% vs prior filing year
Program spending
25%
of expenses reach program services▼ -75% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$28.2M
FY2024▲ +6%
Expenses
$26.4M
FY2024▲ +5%
Total assets
$26.9M
FY2024▼ -3%
Total liabilities
$7.5M
FY2024▼ -27%
Total revenue
$28.2M
Pt VIII · Ln 12
Total expenses
$26.4M
Pt IX · Ln 25
Net assets
$19.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$1.8M
Total assetsPt X · Ln 16$26.9M
Program-expense ratioPt IX · col B25%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412
Mission & Programs · Part III

Where the work happens

1 program service account for $6.7M of program spending, described in the organization's own filed words · FY2024.
01

The exempt purpose of the waldorf lutheran college foundation, inc. Is to provide financial support to waldorf university and to provide scholarships to students of waldorf university. It is also dedicated to provide educational programs and experiences for students.

$6.7Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CWaldorf Lutheran College Foundation INC
EINHdr · item D27-4358184
Principal addressHdr · item CForest City, IA
WebsiteHdr · item Jwaldorffoundation.org
Year of formationHdr · item L2011
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B82)
Ruling yearIRS BMFMay 2011

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b12
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$233,475Pt VII · Sec A
$138,896Pt VII · Sec A
Ex Dir Wlcf
$137,072Pt VII · Sec A
Exec VP Rem
$130,941Pt VII · Sec A
VP for On-Li
$111,904Pt VII · Sec A
Staff Res
$106,176Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Robert Alsop’s $233K as CEO is at the 48th percentile of top reported officer pay among 3682 $10–100M 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.

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Statement of Revenue

Part VIII
Program service revenue$23.2M · 82%
Contributions & grants$4.7M · 17%
Investment income$288K · 1%
Program service revenue82%$23.2M
Contributions & grants17%$4.7M
Investment income1%$288K
Total revenueLn 12$28.2M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.25 Management & general $0.75 Fundraising $0.00
Program services25%$6.7M
Management & general75%$19.7M
Fundraising$51K
Total functional expensesLn 25$26.4M

Balance Sheet

Part X · end of year
CashLn 1$760K
Total assetsLn 16$26.9M
Total liabilitiesLn 26$7.5M
Total net assetsLn 32$19.4M
Months of cash on handcomputed0.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $7.9M · Operating expenses/yr $26.4M
3.6 months
Where the money goes
Program services
Program services $6.7M · Total expenses $26.4M
25%
Management & General
Management & general $19.7M · Total expenses $26.4M
75%
Fundraising
Fundraising $51K · Total expenses $26.4M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $17K · Solicited contributions (3-yr avg) $4.5M
$0.00 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $4.7M · Total revenue $28.2M
17%
Government reliance
Government grants — · Total revenue $28.2M
Earned-income share
Program service revenue $23.2M · Total revenue $28.2M
82%
Investment reliance
Investment income $288K · Total revenue $28.2M
+1%
Program self-sufficiency
Program service revenue $23.2M · Total expenses $26.4M
88%
Growth & trend
Revenue growth (YoY)
This year $28.2M · Prior year $26.5M
+6%
Revenue CAGR
FY2020 $511K · FY2024 $28.2M
+173%
Net-asset trend (YoY)
End of year $19.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $28.2M · Expenses $26.4M
+6%
Liabilities-to-Assets
Total liabilities — · Total assets $26.9M
Net-asset ratio
Net assets $19.4M · Total assets $26.9M
72%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $7.1M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $26.9M
27%
People & payroll
Highest Reported Total Compensation
Individual Robert Alsop · Reported title CEO · Highest reported compensation $233K · Total expenses $26.4M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $15.3M · Total expenses $26.4M
58%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 25%
Overhead ratio 75%
Fundraising cost ratio 1%
Revenue growth 6%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 6 funders →
Grants paid · 1 grant · $264K · 2024–2024
Waldorf UniversityFY2024$263,863

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$26.5M revenue · ⤓ 990 PDF
FY2023$7.6M revenue · ⤓ 990 PDF
FY2022$1.3M revenue · ⤓ 990 PDF
FY2021$511K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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