Knox College EIN 37-0673513 Form 990 (PDF) Claim this org

Knox College FY2022 filing

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Offers liberal arts education to students from diverse backgrounds. For fiscal year 2022 it reported $97.6M in revenue, $92.6M in expenses, and $212.0M in net assets.Pt I

Founded
1837
Type
Higher education institution · Colleges & Universities
Location
Galesburg, IL
Website
www.knox.edu
Filings
5 on file (2020–2022)
Revenue
$97.6MFY2022
Expenses
$92.6M
Net assets
$212.0M
People
58
Filings
5
Updates
0
More identity details & actions ⌄
EIN  37-0673513 Higher education institution Galesburg, IL Founded 1837
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 7/7/26 · see original: IRS
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Size
$100M+
What they do
Offers liberal arts education to students from diverse backgrounds.
Leadership
Dr C Andrew McGadney B 721 · President and Ex Officio Trustee · $231K
Money in and out
$97.6M revenue, $92.6M expenses
Financial scale & money flow · FY2022
Total revenue
$97.6M
Pt VIII · Ln 12
Total expenses
$92.6M
Pt IX · Ln 25
Net assets
$212.0M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $5.0M
Where spending went · Part IX cols B–D
Program services $0.87 Management & general $0.09 Fundraising $0.03

Summary of the Filing

Part I · fiscal year 2022 · Form 990-T
Revenue
$97.6M
FY2022▲ +8%
Expenses
$92.6M
FY2022▲ +12%
Total assets
$266.3M
FY2022▼ -10%
Total liabilities
$54.3M
FY2022▲ +8%
Total revenue
$97.6M
Pt VIII · Ln 12
Total expenses
$92.6M
Pt IX · Ln 25
Net assets
$212.0M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$5.0M
Total assetsPt X · Ln 16$266.3M
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 342
Independent voting membersPt I · Ln 441

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CKnox College
EINHdr · item D37-0673513
Principal addressHdr · item CGalesburg, IL
WebsiteHdr · item Jwww.knox.edu
Year of formationHdr · item L1837
State of legal domicileHdr · item MIL
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B420)
Ruling yearIRS BMFOct 1935

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a42
Independent voting membersPt VI · Ln 1b41
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 · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President and Ex Officio Trustee
$230,668Pt VII · Sec A
$210,288Pt VII · Sec A
Provost and Dean of the College
$195,116Pt VII · Sec A
VP of Finance and Admin
$189,691Pt VII · Sec A
VP for Advancement
$159,943Pt VII · Sec A
VP for Enrollment
$147,662Pt VII · Sec A
Executive Director of Communications
$145,323Pt VII · Sec A
Associate VP of Major Gifts
$142,133Pt VII · Sec A

Dr C Andrew McGadney’s $516K as President & Ex Offcio Trustee is at the 40th 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Dr C Andrew McGadney$515,643$423,638$391,815
Dr Teresa L Amott End 6302021$323,818
Dr Teresa L Amott$319,432
Monica Keith$188,309$236,305$171,272
Dr C Andrew McGadney B 721$230,668
Heather Bumps$214,950$208,829$190,188
Dr Teresa L Amott End 63021$210,288
Dr Michael Schneider$197,548$206,350$185,896

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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Mission & Programs · Part III

Where the work happens

1 program service account for $81.0M of program spending, described in the organization's own filed words · FY2021.
01

Higher Education

Our mission is carried out through our curriculum, the character of our learning environment, our residential campus culture, and our community. Knox college has a tradition of free inquiry, independent thought, and diverse perspectives.

$81.0Mprogram expense

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Statement of Revenue

Part VIII
Program service revenue$65.2M · 67%
Contributions & grants$23.0M · 24%
Investment income$8.7M · 9%
Other revenue$724K · 1%
Program service revenue67%$65.2M
Contributions & grants24%$23.0M
Investment income9%$8.7M
Other revenue1%$724K
— government grantsLn 1e$5.1M
Total revenueLn 12$97.6M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.09 Fundraising $0.03
Program services87%$81.0M
Management & general9%$8.4M
Fundraising3%$3.2M
Total functional expensesLn 25$92.6M

Balance Sheet

Part X · end of year
CashLn 1$7.4M
Total assetsLn 16$266.3M
Total liabilitiesLn 26$54.3M
Total net assetsLn 32$212.0M
Months of cash on handcomputed1.0

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$98K
Grants paid · 6 grants · $235.2M · 2019–2024
Unitemized GrantFY2024$45,883,731
Unitemized GrantFY2023$36,881,871
Unitemized GrantFY2022$37,297,478
Unitemized GrantFY2021$39,311,874
Unitemized GrantFY2020$36,908,620
Unitemized GrantFY2019$38,956,673

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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$97.6M revenue · ⤓ 990 PDF
FY2023$85.7M revenue · ⤓ 990 PDF
FY2022$97.6M revenue · viewing · ⤓ 990 PDF
FY2021$90.4M revenue · ⤓ 990 PDF
FY2020$89.7M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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