Seeking truth, building strength, inspiring service - together

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
$2.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
4 of 6
filings with a surplus
Average surplus $4.3M a year · 3% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.1M
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 $167.9M in investments, Pt X · Ln 11–13
Fine: 0.8 months of spending in cash, plus $167.9M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $77K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$106.2M
26% of total assets
Looks good: liabilities are 26% of assets; 50% or less.
Pt X · Ln 26
Independent board members
29
of 29 voting members
Looks good: 29 of 29 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$125.2M
-15% vs prior year
Spent
$114.9M
To programs
82%
Net assets
$302.6M
By yearFY2020–FY2025
Revenue
$125.2M
FY2021▼ -15%
Tap a bar for its year
Revenue by fiscal year
FY2020$148.0M
FY2021$125.2M
FY2022$132.5M
FY2023$124.0M
FY2024$139.7M
FY2025$158.7M
Expenses
$114.9M
FY2021▼ -23%
Tap a bar for its year
Expenses by fiscal year
FY2020$149.6M
FY2021$114.9M
FY2022$124.0M
FY2023$128.3M
FY2024$136.3M
FY2025$148.9M
Net assets
$302.6M
FY2021▲ +19%
Tap a bar for its year
Net assets by fiscal year
FY2020$253.5M
FY2021$302.6M
FY2022$280.9M
FY2023$293.8M
FY2024$313.1M
FY2025$337.2M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 1936.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $94.2M Management & general 16% · $18.5M Fundraising 2% · $2.2M

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

41 people listed on the 990; $2.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President & Chief Executive Officer
$415,128Pt VII · Sec A
Provost and Chief Operating Officer
$206,892Pt VII · Sec A
Vice President for Student Affairs - Dean of Stude
$166,146Pt VII · Sec A
Vice President for Institutional Advancement
$164,216Pt VII · Sec A
VP for Admin Planning and Innovation
$158,801Pt VII · Sec A
Professor of Physics, Director WI Space Grant Co
$147,434Pt VII · Sec A
Associate VP and Exec Dir Career and Prof Dev
$146,148Pt VII · Sec A
Vice President for Enrollment
$143,371Pt VII · Sec A

John Swallow’s $563K as President and Chief Executive Officer is at the 48th 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
John Swallow$563,294$535,965$634,994$483,858$415,128$380,851
David Timmerman$242,187$231,723$225,084$217,407$206,892$211,979
Kevin Crosby$170,068$214,045$202,347$188,284$147,434$124,010
Abigail Hanna$191,769$184,202$180,329$174,747$158,801$152,328
Dale McClain————$54,167$191,057
Michele Hancock$184,920$188,637$188,455$157,639——
Bridget Haggerty$165,606$188,452$176,954———
Jim Padilla$185,998$179,609————

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 Carthage College executive salaries →

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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

Offers college education in liberal arts and sciences.

Questions for Carthage College

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Provided by the organization

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3 programs · $87.2M · in their own filed words · FY2020
01

Instruction

Carthage college awards the bachelor of arts degrees with majors in more than 40 subject areas and three master degrees. The 2020-2021 academic year enrollment was 2,683 full time equivalent (fte) students in the fall semester and 2,464 fte students enrolled in the spring semester.

$60.9Mprogram expense
02

Institutional support at carthage college is comprised of services that support administrative functions of the college including president's office, advancement, communications, finance & administrative services, and general institutional expenses.

$16.0Mprogram expense
03

Student Services

Carthage boasts a long-standing commitment to educating the whole person by nourishing the intellectual, spiritual, emotional, social and physical dimensions of students' lives. The college offers a curriculum that challenges students to think critically and express themselves effectively, a campus life that encourages involvement and…

$10.2Mprogram 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 3 funders →
Grants paid · 37 grants · $309.1M · 2019–2024
Unitemized GrantFY2024$50,554,160
Unitemized GrantFY2024$4,806,124
Unitemized GrantFY2024$1,705,968
Unitemized GrantFY2024$129,250
Unitemized GrantFY2023$46,350,413
Unitemized GrantFY2023$3,476,374
Unitemized GrantFY2023$1,413,639
Unitemized GrantFY2023$149,219
Unitemized GrantFY2022$41,895,059
Unitemized GrantFY2022$3,243,392
Unitemized GrantFY2022$1,377,201
Unitemized GrantFY2022$287,503
Unitemized GrantFY2022$30,375
Unitemized GrantFY2022$10,500
Unitemized GrantFY2022$7,500
Unitemized GrantFY2022$750
Unitemized GrantFY2021$37,740,879
Unitemized GrantFY2021$3,233,083
See all 37 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$125.2M
Ln 12
Fees for servicesLn 2g$101.4M
Gifts and grantsLn 1h$12.4M
Other incomeLn 4–11$8.1M
Money outPt IX
$114.9M
Ln 25
Programscol B$94.2M
Managementcol C$18.5M
Fundraisingcol D$2.2M
Owns and owesPt X
$302.6M
net assets · Ln 32
Cash and savingsLn 1–2$7.3M
Total assetsLn 16$408.8M
LiabilitiesLn 26$106.2M
PeoplePt VI, VII
41
listed · VII A
PaidVII A14
Voting boardVI 1a29
IndependentVI 1b29
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$12.4M
Government grantsLn 1e$6.5M
Noncash giftsLn 1g$575K
Fundraising eventsLn 1c$49K
Fees for servicesLn 2g$101.4M
Investment incomeLn 3$3.2M
Other incomeLn 4–11$8.1M
Gains on assetsLn 7−$414K
Total revenueLn 12$125.2M
Assets in detailPt X, end of year
SavingsLn 2$7.3M
Cash and savings togetherLn 1–2$7.3M
InvestmentsLn 11–13$167.9M
Land, buildings, equipmentLn 10c$183.0M
Other assetsLn 15$54K
Total assetsLn 16$408.8M
LiabilitiesLn 26$106.2M
Net assetsLn 32$302.6M
OperationsPt I, VI
EmployeesI 51,757
VolunteersI 6300
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$45.6M
Bond issues listedSch K Pt I2
Raised by those issuesSch K Pt I$52.8M
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$575K
EndowmentSch D · Pt V
LineFY21FY20FY19FY18FY17
End of yearLn 1g$164.3M$124.6M$123.9M$109.0M$106.8M
Given inLn 1b$1.3M$1.3M$774K−$4.8M$6.3M
SpentLn 1d–1f$3.9M$5.1M−$7.9M$3.3M−$63K
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$7.1M$7.3M
InvestmentsLn 11–13$126.9M$167.9M
Land, buildings, equipmentLn 10c$180.7M$183.0M
Total assetsLn 16$324.3M$408.8M
LiabilitiesLn 26$70.9M$106.2M
Net assetsLn 32$253.5M$302.6M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$15K$15K
Grants to domestic individualsLn 2$39.7M$39.7M
Pay of current officers, directors and key staffLn 5$1.4M$1.0M$342K$41K
Other salaries and wagesLn 7$28.6M$20.4M$7.3M$841K
Pension plan contributionsLn 8$678K$484K$174K$20K
Other employee benefitsLn 9$6.3M$4.5M$1.6M$185K
Payroll taxesLn 10$2.3M$1.6M$584K$67K
Legal feesLn 11b$104K$74K$27K$3K
Accounting feesLn 11c$103K$73K$26K$3K
Investment management feesLn 11f$74K$74K
Other fees for servicesLn 11g$4.9M$4.1M$656K$128K
Advertising and promotionLn 12$1.1M$767K$281K$31K
Office expensesLn 13$2.4M$1.7M$610K$60K
Information technologyLn 14$1.7M$1.2M$434K$50K
OccupancyLn 16$12.6M$9.1M$3.1M$370K
TravelLn 17$631K$458K$164K$9K
Conferences, conventions and meetingsLn 19$92K$65K$24K$3K
InterestLn 20$1.3M$915K$328K$38K
Depreciation, depletion and amortizationLn 22$8.9M$6.4M$2.2M$261K
InsuranceLn 23$1.1M$814K$292K$34K
Other expenses (24a–d)Ln 24$994K$710K$255K$29K
Total functional expensesLn 25$114.9M$94.2M$18.5M$2.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $158.7M$148.9M$9.8M$337.2M 990 PDF
FY2024Filed with the IRS May 7, 2025 $139.7M$136.3M$3.5M$313.1M 990 PDF
FY2023Filed with the IRS May 6, 2024 $124.0M$128.3M−$4.4M$293.8M 990 PDF
FY2022 $132.5M$124.0M$8.4M$280.9M 990 PDF
FY2021 ViewingFiled with the IRS May 12, 2022 $125.2M$114.9M$10.3M$302.6M 990 PDF
FY2020Filed with the IRS May 14, 2021 $148.0M$149.6M−$1.7M$253.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $125,157,339 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,494,315$12,389,234
I-9 Program service revenuePrior year $134,707,988$101,427,602
I-10 Investment incomePrior year $4,769,015$3,203,009
I-11 Other revenuePrior year −$9,542$8,137,494
I-12 Total revenuePrior year $147,961,776$125,157,339
I-13 Grants and similar amounts paidPrior year $71,371,635$39,743,156
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $42,824,732$39,200,386
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $35,415,581$35,930,235
I-18 Total expensesPrior year $149,611,948$114,873,777
I-19 Revenue less expensesPrior year −$1,650,172$10,283,562
Part VI · Governance 29 of 29 board members independent, 1 to look at
VI-1a Voting members of the governing body29
VI-1b Independent voting members29
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $125,157,339 across 11 lines filed
VIII-1c Fundraising events$49,138
VIII-1e Government grants$6,450,161
VIII-1f All other contributions, gifts and grants$5,889,935
VIII-1g Noncash contributions (included above)$575,428
VIII-1h Total contributions, gifts and grants$12,389,234
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $101,291,649 · Unrelated business $135,953$101,427,602
VIII-3 Investment incomeExcluded from tax $3,617,202$3,617,202
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$414,193−$414,193
VIII-8 Net income from fundraising eventsExcluded from tax −$14,311−$14,311
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $8,151,805$8,151,805
VIII-12 Total revenueRelated to mission $101,291,649 · Unrelated business $135,953 · Excluded from tax $11,340,503$125,157,339
Part IX · Statement of functional expenses $114,873,777 across 21 lines filed
IX-1 Grants to domestic organizationsPrograms $15,000$15,000
IX-2 Grants to domestic individualsPrograms $39,728,156$39,728,156
IX-5 Pay of current officers, directors and key staffPrograms $1,006,539 · Management $341,640 · Fundraising $40,913$1,389,092
IX-7 Other salaries and wagesPrograms $20,387,174 · Management $7,336,597 · Fundraising $841,330$28,565,101
IX-8 Pension plan contributionsPrograms $483,662 · Management $174,074 · Fundraising $19,960$677,696
IX-9 Other employee benefitsPrograms $4,491,563 · Management $1,613,535 · Fundraising $185,271$6,290,369
IX-10 Payroll taxesPrograms $1,626,981 · Management $584,049 · Fundraising $67,098$2,278,128
IX-11b Legal feesPrograms $74,280 · Management $26,665 · Fundraising $3,063$104,008
IX-11c Accounting feesPrograms $73,217 · Management $26,283 · Fundraising $3,020$102,520
IX-11f Investment management feesManagement $73,672$73,672
IX-11g Other fees for servicesPrograms $4,136,538 · Management $656,071 · Fundraising $127,878$4,920,487
IX-12 Advertising and promotionPrograms $766,800 · Management $280,648 · Fundraising $31,432$1,078,880
IX-13 Office expensesPrograms $1,699,958 · Management $610,246 · Fundraising $59,761$2,369,965
IX-14 Information technologyPrograms $1,208,645 · Management $433,876 · Fundraising $49,845$1,692,366
IX-16 OccupancyPrograms $9,074,203 · Management $3,132,935 · Fundraising $370,449$12,577,587
IX-17 TravelPrograms $457,981 · Management $164,404 · Fundraising $8,746$631,131
IX-19 Conferences, conventions and meetingsPrograms $65,488 · Management $23,509 · Fundraising $2,701$91,698
IX-20 InterestPrograms $914,634 · Management $328,333 · Fundraising $37,720$1,280,687
IX-22 Depreciation, depletion and amortizationPrograms $6,419,075 · Management $2,193,260 · Fundraising $261,358$8,873,693
IX-23 InsurancePrograms $814,158 · Management $292,264 · Fundraising $33,576$1,139,998
IX-24 Other expenses (24a–d)Programs $709,563 · Management $254,717 · Fundraising $29,263$993,543
IX-25 Total functional expensesPrograms $94,153,615 · Management $18,546,778 · Fundraising $2,173,384$114,873,777
Part X · Balance sheet $408,772,143 assets, 20 lines filed
Asset lines not itemized here account for $1,529,732; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $7,099,348$7,288,348
X-3 Pledges and grants receivableStart of year $1,847,778$1,971,022
X-4 Accounts receivableStart of year $4,655,216$45,109,006
X-9 Prepaid expenses and deferred chargesStart of year $1,302,714$1,941,562
X-10c Land, buildings and equipment, netStart of year $180,701,790$182,983,370
X-11 Publicly traded securitiesStart of year $126,134,364$167,097,976
X-12 Other securitiesStart of year $734,010$797,495
X-15 Other assetsStart of year $47,152$53,632
X-16 Total assetsStart of year $324,316,773$408,772,143
X-17 Accounts payable and accrued expensesStart of year $7,335,300$5,056,409
X-18 Grants payableStart of year $1,874,601$1,593,662
X-19 Deferred revenueStart of year $9,699,495$50,506,375
X-20 Tax-exempt bond liabilitiesStart of year $48,055,000$45,560,000
X-24 Unsecured notes and loans payableStart of year $364,872$241,122
X-25 Other liabilitiesStart of year $3,532,803$3,194,272
X-26 Total liabilitiesStart of year $70,862,071$106,151,840
X-27 Net assets without donor restrictionsStart of year $158,655,303$167,735,322
X-28 Net assets with donor restrictionsStart of year $94,799,399$134,884,981
X-32 Total net assets or fund balancesStart of year $253,454,702$302,620,303
X-33 Total liabilities and net assetsStart of year $324,316,773$408,772,143
Part XI · Reconciliation of net assets $302,620,303 net assets at year end
XI-1 Total revenue$125,157,339
XI-2 Total expenses$114,873,777
XI-3 Revenue less expenses$10,283,562
XI-4 Net assets at start of year$253,454,702
XI-5 Net unrealized gains (losses) on investments$37,926,458
XI-9 Other changes in net assets$955,581
XI-10 Net assets at end of year$302,620,303

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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