Kenyon College FY2023 filing

Tax-deductible

Gambier, OH501(c)(3)Since 1824Colleges & UniversitiesEIN 31-4379507Revenue $218.8M in FY2023

On file with the IRSkenyon.edu209 Chase Ave, 43022-5024 · Gambier, OHTax-exempt since Aug 1935School — 170(b)(1)(A)(ii)

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501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$3.6M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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
6 of 6
filings with a surplus
Average surplus $30.8M a year · 15% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.6M
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
Cash reserves
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $99K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$286.2M
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
30
of 31 voting members
Looks good: 30 of 31 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$218.8M
-14% vs prior year
Spent
$189.6M
To programs
90%
Net assets
$796.4M
By yearFY2020–FY2025
Revenue
$218.8M
FY2023▼ -14%
Tap a bar for its year
Revenue by fiscal year
FY2020$162.5M
FY2021$159.0M
FY2022$254.7M
FY2023$218.8M
FY2024$253.8M
FY2025$222.1M
Expenses
$189.6M
FY2023▲ +3%
Tap a bar for its year
Expenses by fiscal year
FY2020$152.8M
FY2021$150.4M
FY2022$183.2M
FY2023$189.6M
FY2024$201.6M
FY2025$208.2M
Net assets
$796.4M
FY2023▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$610.3M
FY2021$727.6M
FY2022$737.0M
FY2023$796.4M
FY2024$879.2M
FY2025$940.3M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Aug 1935.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $170.2M Management & general 8% · $14.5M Fundraising 3% · $4.9M

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

47 people listed on the 990; $3.6M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President(until 12/31/22)
$629,454Pt VII · Sec A
VP for Advancement
$290,657Pt VII · Sec A
Acting President & Trustee
$281,911Pt VII · Sec A
VP Enrollment/Dean of Admissions
$225,760Pt VII · Sec A
VP for Finance
$208,518Pt VII · Sec A
Special Asst to President
$203,742Pt VII · Sec A
VP Student Affairs
$189,841Pt VII · Sec A
Associate VP for Development
$182,748Pt VII · Sec A

Julie Kornfeld’s $766K as President is at the 64th 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
Julie Kornfeld$766,058$161,683————
Sean M Decatur———$540,721$678,187$522,304
Sean Decatur——$629,454———
Colleen Garland$474,181$305,133$290,657$435,069——
Jeffrey Bowman$324,680$343,934—$216,111——
Colleen M Garland————$281,552$284,802
Jeffrey a Bowman——$281,911—$164,892—
Diane Anci$243,009$235,866$225,760$220,574$218,230$214,289

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.

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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

Provides a comprehensive private liberal arts education to undergraduate students through diverse majors, interdisciplinary programs, pre-professional advising, and active campus life opportunities.

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Provided by the organization

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1 program · $170.2M · in their own filed words · FY2022
01

The college offers 26 majors leading to a bachelor's degree with a student-to-faculty ratio of 10 to 1. In addition, the college offers 10 concentrations; pre-professional advising for graduate or professional school in business, education, engineering, law, and medicine; and a number of cooperative programs involving other institutions.

$170.2Mprogram 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
See all 6 funders →
Grants paid · 48 grants · $300.8M · 2019–2024
Unitemized GrantFY2024$57,376,999
Unitemized GrantFY2024$2,710,841
Unitemized GrantFY2024$354,870
Unitemized GrantFY2024$212,981
Unitemized GrantFY2024$90,100
Unitemized GrantFY2024$82,681
Unitemized GrantFY2024$48,996
Unitemized GrantFY2024$12,000
Unitemized GrantFY2023$52,348,112
Unitemized GrantFY2023$2,604,650
Unitemized GrantFY2023$439,825
Unitemized GrantFY2023$110,903
Unitemized GrantFY2023$79,604
Unitemized GrantFY2023$75,370
Unitemized GrantFY2023$39,802
Unitemized GrantFY2023$12,000
Unitemized GrantFY2022$51,083,723
Unitemized GrantFY2022$2,961,410
See all 48 grants →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$218.8M
Ln 12
Fees for servicesLn 2g$151.5M
Gifts and grantsLn 1h$41.0M
Investment incomeLn 3$23.6M
Money outPt IX
$189.6M
Ln 25
Programscol B$170.2M
Managementcol C$14.5M
Fundraisingcol D$4.9M
Owns and owesPt X
$796.4M
net assets · Ln 32
Cash and savingsLn 1–2$33.7M
Total assetsLn 16$1.1B
LiabilitiesLn 26$286.2M
PeoplePt VI, VII
47
listed · VII A
PaidVII A17
Voting boardVI 1a31
IndependentVI 1b30
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$41.0M
Government grantsLn 1e$3.1M
Noncash giftsLn 1g$4.9M
Fees for servicesLn 2g$151.5M
Investment incomeLn 3$23.6M
Other incomeLn 4–11$2.7M
Gains on assetsLn 7$15.3M
Total revenueLn 12$218.8M
Assets in detailPt X, end of year
SavingsLn 2$33.7M
Cash and savings togetherLn 1–2$33.7M
InvestmentsLn 11–13$556.9M
Land, buildings, equipmentLn 10c$390.0M
Other assetsLn 15$57.0M
Total assetsLn 16$1.1B
LiabilitiesLn 26$286.2M
Net assetsLn 32$796.4M
OperationsPt I, VI
EmployeesI 51,971
VolunteersI 6899
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$64.5M$33.7M
InvestmentsLn 11–13$523.1M$556.9M
Land, buildings, equipmentLn 10c$333.9M$390.0M
Total assetsLn 16$1.03B$1.08B
LiabilitiesLn 26$291.6M$286.2M
Net assetsLn 32$737.0M$796.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$54.7M$54.7M
Grants and assistance to foreign recipientsLn 3$2.5M$2.5M
Pay of current officers, directors and key staffLn 5$1.4M$344K$784K$248K
Other salaries and wagesLn 7$50.4M$43.6M$4.1M$2.7M
Pension plan contributionsLn 8$4.0M$3.5M$333K$256K
Other employee benefitsLn 9$9.2M$7.9M$738K$595K
Payroll taxesLn 10$3.7M$3.1M$448K$205K
Legal feesLn 11b$1.2M$791K$361K
Accounting feesLn 11c$174K$174K
Investment management feesLn 11f$1.9M$1.9M
Other fees for servicesLn 11g$3.7M$2.5M$1.1M$134K
Office expensesLn 13$2.0M$2.0M
Information technologyLn 14$1.8M$433K$1.4M
OccupancyLn 16$4.7M$4.7M
TravelLn 17$4.8M$4.3M$224K$206K
InterestLn 20$10.1M$10.1M
Depreciation, depletion and amortizationLn 22$15.2M$14.6M$511K$92K
InsuranceLn 23$1.0M$466K$565K
Other expenses (24a–d)Ln 24$11.8M$11.8M$11K$223
All other expensesLn 24e$5.4M$3.0M$1.9M$457K
Total functional expensesLn 25$189.6M$170.2M$14.5M$4.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $222.1M$208.2M$13.9M$940.3M 990 PDF
FY2024 $253.8M$201.6M$52.2M$879.2M 990 PDF
FY2023 Viewing $218.8M$189.6M$29.1M$796.4M 990 PDF
FY2022 $254.7M$183.2M$71.4M$737.0M 990 PDF
FY2021 $159.0M$150.4M$8.6M$727.6M 990 PDF
FY2020 $162.5M$152.8M$9.6M$610.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $218,784,013 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $63,180,495$40,964,607
I-9 Program service revenuePrior year $147,727,457$151,528,410
I-10 Investment incomePrior year $41,339,991$23,550,355
I-11 Other revenuePrior year $2,425,140$2,740,641
I-12 Total revenuePrior year $254,673,083$218,784,013
I-13 Grants and similar amounts paidPrior year $54,052,661$57,180,232
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $65,778,235$68,802,209
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $63,413,228$63,652,407
I-18 Total expensesPrior year $183,244,124$189,634,848
I-19 Revenue less expensesPrior year $71,428,959$29,149,165
Part VI · Governance 30 of 31 board members independent, no flags
VI-1a Voting members of the governing body31
VI-1b Independent voting members30
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 $218,784,013 across 10 lines filed
Lines not itemized here account for $1,389,188 of total revenue; see the IRS return.
VIII-1e Government grants$3,100,954
VIII-1f All other contributions, gifts and grants$37,863,653
VIII-1g Noncash contributions (included above)$4,865,903
VIII-1h Total contributions, gifts and grants$40,964,607
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $151,528,410$151,528,410
VIII-3 Investment incomeUnrelated business $3,032,277 · Excluded from tax $5,252,623$8,284,900
VIII-6 Net rental income or lossUnrelated business −$95,147−$95,147
VIII-7 Net gain or loss on sales of assetsExcluded from tax $15,265,455$15,265,455
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $729,531 · Unrelated business $717,069$1,446,600
VIII-12 Total revenueRelated to mission $153,647,129 · Unrelated business $3,654,199 · Excluded from tax $20,518,078$218,784,013
Part IX · Statement of functional expenses $189,634,848 across 20 lines filed
IX-2 Grants to domestic individualsPrograms $54,656,373$54,656,373
IX-3 Grants and assistance to foreign recipientsPrograms $2,523,859$2,523,859
IX-5 Pay of current officers, directors and key staffPrograms $343,975 · Management $784,262 · Fundraising $247,662$1,375,899
IX-7 Other salaries and wagesPrograms $43,596,689 · Management $4,105,525 · Fundraising $2,741,966$50,444,180
IX-8 Pension plan contributionsPrograms $3,453,152 · Management $332,907 · Fundraising $255,846$4,041,905
IX-9 Other employee benefitsPrograms $7,872,964 · Management $737,950 · Fundraising $594,565$9,205,479
IX-10 Payroll taxesPrograms $3,081,721 · Management $448,132 · Fundraising $204,893$3,734,746
IX-11b Legal feesPrograms $790,823 · Management $361,268$1,152,091
IX-11c Accounting feesManagement $173,977$173,977
IX-11f Investment management feesManagement $1,880,635$1,880,635
IX-11g Other fees for servicesPrograms $2,519,656 · Management $1,058,241 · Fundraising $134,295$3,712,192
IX-13 Office expensesPrograms $1,963,513$1,963,513
IX-14 Information technologyPrograms $433,275 · Management $1,379,204$1,812,479
IX-16 OccupancyPrograms $4,667,995$4,667,995
IX-17 TravelPrograms $4,347,247 · Management $223,708 · Fundraising $206,134$4,777,089
IX-20 InterestPrograms $10,092,247$10,092,247
IX-22 Depreciation, depletion and amortizationPrograms $14,566,001 · Management $511,464 · Fundraising $92,048$15,169,513
IX-23 InsurancePrograms $466,247 · Management $565,056$1,031,303
IX-24 Other expenses (24a–d)Programs $11,838,060 · Management $11,224 · Fundraising $223$11,849,507
IX-24e All other expensesPrograms $3,018,148 · Management $1,894,614 · Fundraising $457,104$5,369,866
IX-25 Total functional expensesPrograms $170,231,945 · Management $14,468,167 · Fundraising $4,934,736$189,634,848
Part X · Balance sheet $1,082,627,140 assets, 18 lines filed
X-2 Savings and temporary cash investmentsStart of year $64,543,146$33,700,945
X-3 Pledges and grants receivableStart of year $38,862,495$38,774,038
X-4 Accounts receivableStart of year $2,909,287$5,239,161
X-8 Inventories for sale or useStart of year $1,002,386$1,013,286
X-10c Land, buildings and equipment, netStart of year $333,861,781$389,952,723
X-11 Publicly traded securitiesStart of year $54,841,836$59,448,036
X-12 Other securitiesStart of year $464,111,405$493,349,248
X-13 Program-related investmentsStart of year $4,126,130$4,103,589
X-15 Other assetsStart of year $64,406,097$57,046,114
X-16 Total assetsStart of year $1,028,664,563$1,082,627,140
X-17 Accounts payable and accrued expensesStart of year $10,262,982$7,723,324
X-20 Tax-exempt bond liabilitiesStart of year $264,390,749$262,827,650
X-25 Other liabilitiesStart of year $16,965,347$15,673,775
X-26 Total liabilitiesStart of year $291,619,078$286,224,749
X-27 Net assets without donor restrictionsStart of year $389,840,564$403,332,096
X-28 Net assets with donor restrictionsStart of year $347,204,921$393,070,295
X-32 Total net assets or fund balancesStart of year $737,045,485$796,402,391
X-33 Total liabilities and net assetsStart of year $1,028,664,563$1,082,627,140
Part XI · Reconciliation of net assets $796,402,391 net assets at year end
XI-1 Total revenue$218,784,013
XI-2 Total expenses$189,634,848
XI-3 Revenue less expenses$29,149,165
XI-4 Net assets at start of year$737,045,485
XI-5 Net unrealized gains (losses) on investments$30,547,755
XI-9 Other changes in net assets−$340,014
XI-10 Net assets at end of year$796,402,391

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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