Calvin University FY2021 filing

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The mission of Calvin University is to equip students to think deeply, to act justly, and to live wholeheartedly as christ's agents of renewal in the world.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
$1.6M 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
3 of 5
filings with a surplus
Average surplus $2.6M a year · 1% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.6M
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $348.2M in investments, Pt X · Ln 11–13
Fine: 0.8 months of spending in cash, plus $348.2M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
12
named funders · $116K
Looks good: 12 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$135.3M
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
31
of 31 voting members
Looks good: 31 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
$167.0M
Spent
$153.3M
To programs
96%
Net assets
$451.0M
By yearFY2021–FY2025
Revenue
$167.0M
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$167.0M
FY2022$190.4M
FY2023$190.9M
FY2024$184.9M
FY2025$193.0M
Expenses
$153.3M
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$153.3M
FY2022$168.9M
FY2023$180.0M
FY2024$198.0M
FY2025$212.8M
Net assets
$451.0M
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$451.0M
FY2022$451.4M
FY2023$477.5M
FY2024$495.3M
FY2025$500.9M

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 Jun 1993.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $146.7M Management & general 3% · $3.9M Fundraising 2% · $2.7M

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

40 people listed on the 990; $1.6M 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
$377,627Pt VII · Sec A
VP of Finance and Administration
$199,908Pt VII · Sec A
$182,930Pt VII · Sec A
VP for Advancement
$172,984Pt VII · Sec A
Director of Health Service
$159,728Pt VII · Sec A
VP for Student Life
$145,976Pt VII · Sec A
VP for Enrollment
$142,252Pt VII · Sec A
VP for People, Strategy, and Technolog
$139,397Pt VII · Sec A

Greg Elzinga’s $378K as Presdient is at the 22nd 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

NameFY2025FY2024FY2023FY2022FY2021
Dr Wiebe Boer$300,290$669,522$361,337——
Dr Michael Leroy——$426,978$351,202$377,627
Greg Elzinga$378,103$209,379$177,873——
Dr Amber Warner$234,343————
Dr Sarah Visser$213,153$230,937$170,615$154,422$145,976
Dr Noah Toly$206,487$230,393———
Dirk Pruis$194,548$216,543$75,469——
Tim Fennema—$144,800$204,200$55,234—

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 Calvin University 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

Provides a rigorous Christian liberal arts education, equipping students with academic support, diverse majors, and values to serve as agents of renewal in the world.

Questions for Calvin University

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3 programs · $140.0M · in their own filed words · FY2020
01

Calvin university is a comprehensive liberal arts university in the reformed tradition of historic christianity seeking to be agents of renewal in the academy, church, and society. The university offers 124 baccalaureate and three master's degree programs.

$123.1Mprogram expense
02

Calvin university's student services and activities are intended to enhance students' spiritual, social, emotional, and physical well-being. The university's student services and activities include areas such as regular worship and biblical learning opportunities, a health services clinic, emotional wellness support, student…

$15.1Mprogram expense
03

Calvin university provides academic support services for the primary missions of instruction, research, and public service. Academic support services include areas such as libraries, technology support, academic tutoring and coaching, writing assistance, on-campus MUSEUMS/GALLERIES, and other services that directly assist instructional…

$1.8Mprogram 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 12 funders →
Grants paid · 529 grants · $320.4M · 2020–2024
Unitemized GrantFY2024$73,730,515
Fuller Theological SeminaryCA · FY2024$74,538
Samford UniversityAL · FY2024$61,858
Wheaton CollegeIL · FY2024$60,756
Abilene Christian UniversityTX · FY2024$50,375
Duke UniversityNC · FY2024$46,500
Emory UniversityGA · FY2024$37,500
Baylor UniversityTX · FY2024$37,495
Village Baptist ChurchOR · FY2024$25,000
University of ArkansasFY2024$25,000
The Howard UniversityDC · FY2024$25,000
Banquet Network INCMD · FY2024$25,000
Story DwellingFY2024$25,000
St Lydia'sFY2024$25,000
See all 529 grants →

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $19.7M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$12.3M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$4.5M
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$486K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$451K
Great Lakes RestorationDepartment of the Interior · ALN 15.662 · Direct$324K

Plus 15 smaller programs.

The auditor reported no findings.

Year ending Jun 2024 · $18.7M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$12.5M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.8M
Federal Perkins LoansDepartment of Education · ALN 84.038 · Direct$686K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$470K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$451K

Plus 17 smaller programs.

The auditor reported 4 findings: a weakness in money controls.

Year ending Jun 2023 · $17.1M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$10.8M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.1M
Federal Perkins LoansDepartment of Education · ALN 84.038 · Direct$992K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$526K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$422K

Plus 18 smaller programs.

The auditor reported 2 findings: a weakness in money controls.

Year ending Jun 2022 · $23.0M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$9.3M
Covid-19 - Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$6.9M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.2M
Federal Perkins LoansDepartment of Education · ALN 84.038 · Direct$1.4M
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$486K

Plus 22 smaller programs.

The auditor reported 1 finding: a weakness in money controls.

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$167.0M
Ln 12
Fees for servicesLn 2g$132.5M
Gifts and grantsLn 1h$29.9M
Investment incomeLn 3$4.6M
Money outPt IX
$153.3M
Ln 25
Programscol B$146.7M
Managementcol C$3.9M
Fundraisingcol D$2.7M
Owns and owesPt X
$451.0M
net assets · Ln 32
Cash and savingsLn 1–2$10.2M
Total assetsLn 16$586.4M
LiabilitiesLn 26$135.3M
PeoplePt VI, VII
40
listed · VII A
PaidVII A9
Voting boardVI 1a31
IndependentVI 1b31
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$29.9M
Government grantsLn 1e$7.7M
Noncash giftsLn 1g$3.7M
Fundraising eventsLn 1c$108K
Fees for servicesLn 2g$132.5M
Investment incomeLn 3$4.6M
Gains on assetsLn 7$4K
Total revenueLn 12$167.0M
Assets in detailPt X, end of year
CashLn 1$10.2M
Cash and savings togetherLn 1–2$10.2M
Pledges and grants receivableLn 3$18.8M
Accounts receivableLn 4$1.4M
Prepaid expenses and deferred chargesLn 9$1.9M
Land, buildings, equipmentLn 10c$204.3M
InvestmentsLn 11–13$348.2M
Other assetsLn 15$1.5M
Total assetsLn 16$586.4M
LiabilitiesLn 26$135.3M
Net assetsLn 32$451.0M
OperationsPt I, VI
EmployeesI 52,846
VolunteersI 632
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$73.4M
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$73.4M
Abroad and in kindSch F, M
Grants to other countriesSch F Pt II–III$92K
Noncash gifts receivedSch M Pt I$3.7M
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$334K
Share of the $257.0M endowmentSch D 1g0.13%
Typical, median of 2,202 orgs0.44%
EndowmentSch D · Pt V
LineFY21FY20FY19FY18FY17
End of yearLn 1g$257.0M$206.0M$181.9M$166.0M$151.8M
Given inLn 1b$9.1M$25.6M$9.0M$8.7M$6.8M
SpentLn 1d–1f$7.2M$6.2M$5.8M$5.7M$5.5M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$23.2M$10.2M
InvestmentsLn 11–13$264.2M$348.2M
Land, buildings, equipmentLn 10c$203.7M$204.3M
Total assetsLn 16$532.4M$586.4M
LiabilitiesLn 26$153.7M$135.3M
Net assetsLn 32$378.7M$451.0M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$634K$634K
Grants to domestic individualsLn 2$57.3M$57.3M
Grants and assistance to foreign recipientsLn 3$92K$92K
Pay of current officers, directors and key staffLn 5$971K$202K$574K$195K
Other salaries and wagesLn 7$44.0M$41.5M$1.1M$1.4M
Other employee benefitsLn 9$10.1M$9.2M$465K$465K
Payroll taxesLn 10$3.0M$2.7M$146K$142K
Legal feesLn 11b$152K$152K
Accounting feesLn 11c$84K$84K
Professional fundraising feesLn 11e$164K$164K
Investment management feesLn 11f$334K$334K
Other fees for servicesLn 11g$2.9M$2.6M$228K$31K
Advertising and promotionLn 12$502K$498K$37$3K
Office expensesLn 13$4.9M$4.6M$158K$109K
Information technologyLn 14$1.7M$1.6M$63K$59K
OccupancyLn 16$10.3M$10.3M$7K$20K
TravelLn 17$457K$429K$9K$19K
Conferences, conventions and meetingsLn 19$426K$360K$56K$11K
InterestLn 20$103K$103K
Depreciation, depletion and amortizationLn 22$6.8M$6.8M$5K$5K
InsuranceLn 23$390K$83K$307K
Other expenses (24a–d)Ln 24$6.9M$6.9M$23K$1K
All other expensesLn 24e$1.1M$899K$120K$76K
Total functional expensesLn 25$153.3M$146.7M$3.9M$2.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 1, 2026 $193.0M$212.8M−$19.8M$500.9M 990 PDF
FY2024Filed with the IRS May 8, 2025 $184.9M$198.0M−$13.2M$495.3M 990 PDF
FY2023Filed with the IRS May 10, 2024 $190.9M$180.0M$10.8M$477.5M 990 PDF
FY2022Filed with the IRS May 15, 2023 $190.4M$168.9M$21.5M$451.4M 990 PDF
FY2021 ViewingFiled with the IRS May 3, 2022 $167.0M$153.3M$13.7M$451.0M 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 FY2021 990 (6 parts)
Part I · Summary $166,988,840 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $58,679,507$29,882,207
I-9 Program service revenuePrior year $143,945,810$132,534,041
I-10 Investment incomePrior year $6,923,627$4,580,138
I-11 Other revenuePrior year $0−$7,546
I-12 Total revenuePrior year $209,548,944$166,988,840
I-13 Grants and similar amounts paidPrior year $60,215,744$58,019,075
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $69,044,484$58,081,237
I-16a Professional fundraising feesPrior year $30,000$163,683
I-17 Other expensesPrior year $44,899,396$36,998,578
I-18 Total expensesPrior year $174,189,624$153,262,573
I-19 Revenue less expensesPrior year $35,359,320$13,726,267
Part VI · Governance 31 of 31 board members independent, no flags
VI-1a Voting members of the governing body31
VI-1b Independent voting members31
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 $166,988,840 across 10 lines filed
VIII-1c Fundraising events$108,397
VIII-1e Government grants$7,712,583
VIII-1f All other contributions, gifts and grants$22,061,227
VIII-1g Noncash contributions (included above)$3,690,511
VIII-1h Total contributions, gifts and grants$29,882,207
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $132,356,735 · Unrelated business $177,306$132,534,041
VIII-3 Investment incomeUnrelated business $220,692 · Excluded from tax $4,355,384$4,576,076
VIII-7 Net gain or loss on sales of assetsExcluded from tax $4,062$4,062
VIII-8 Net income from fundraising eventsExcluded from tax −$7,546−$7,546
VIII-12 Total revenueRelated to mission $132,356,735 · Unrelated business $397,998 · Excluded from tax $4,351,900$166,988,840
Part IX · Statement of functional expenses $153,262,573 across 23 lines filed
IX-1 Grants to domestic organizationsPrograms $634,148$634,148
IX-2 Grants to domestic individualsPrograms $57,293,117$57,293,117
IX-3 Grants and assistance to foreign recipientsPrograms $91,810$91,810
IX-5 Pay of current officers, directors and key staffPrograms $201,878 · Management $573,661 · Fundraising $195,126$970,665
IX-7 Other salaries and wagesPrograms $41,485,409 · Management $1,131,317 · Fundraising $1,384,397$44,001,123
IX-9 Other employee benefitsPrograms $9,189,324 · Management $465,276 · Fundraising $465,013$10,119,613
IX-10 Payroll taxesPrograms $2,701,196 · Management $146,353 · Fundraising $142,287$2,989,836
IX-11b Legal feesManagement $151,855$151,855
IX-11c Accounting feesManagement $84,282$84,282
IX-11e Professional fundraising feesFundraising $163,683$163,683
IX-11f Investment management feesManagement $334,152$334,152
IX-11g Other fees for servicesPrograms $2,608,473 · Management $227,961 · Fundraising $30,597$2,867,031
IX-12 Advertising and promotionPrograms $498,255 · Management $37 · Fundraising $3,422$501,714
IX-13 Office expensesPrograms $4,634,686 · Management $158,419 · Fundraising $108,531$4,901,636
IX-14 Information technologyPrograms $1,566,085 · Management $62,815 · Fundraising $58,611$1,687,511
IX-16 OccupancyPrograms $10,284,802 · Management $7,121 · Fundraising $19,969$10,311,892
IX-17 TravelPrograms $428,626 · Management $9,456 · Fundraising $19,370$457,452
IX-19 Conferences, conventions and meetingsPrograms $359,887 · Management $55,779 · Fundraising $10,697$426,363
IX-20 InterestPrograms $102,677$102,677
IX-22 Depreciation, depletion and amortizationPrograms $6,752,257 · Management $4,715 · Fundraising $5,288$6,762,260
IX-23 InsurancePrograms $83,487 · Management $306,743$390,230
IX-24 Other expenses (24a–d)Programs $6,899,600 · Management $23,424 · Fundraising $1,337$6,924,361
IX-24e All other expensesPrograms $899,187 · Management $120,048 · Fundraising $75,927$1,095,162
IX-25 Total functional expensesPrograms $146,714,904 · Management $3,863,414 · Fundraising $2,684,255$153,262,573
Part X · Balance sheet $586,373,912 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $23,175,311$10,173,589
X-3 Pledges and grants receivableStart of year $30,673,194$18,764,443
X-4 Accounts receivableStart of year $7,008,840$1,432,158
X-9 Prepaid expenses and deferred chargesStart of year $2,002,713$1,931,366
X-10c Land, buildings and equipment, netStart of year $203,734,438$204,333,785
X-11 Publicly traded securitiesStart of year $194,577,162$238,119,700
X-12 Other securitiesStart of year $68,073,369$108,399,128
X-13 Program-related investmentsStart of year $1,556,833$1,698,981
X-15 Other assetsStart of year $1,557,933$1,520,762
X-16 Total assetsStart of year $532,359,793$586,373,912
X-17 Accounts payable and accrued expensesStart of year $11,337,909$10,794,411
X-19 Deferred revenueStart of year $16,738,423$13,186,210
X-20 Tax-exempt bond liabilitiesStart of year $74,220,000$73,421,766
X-23 Secured mortgages and notes payableStart of year $0$12,814,824
X-25 Other liabilitiesStart of year $51,402,852$25,119,819
X-26 Total liabilitiesStart of year $153,699,184$135,337,030
X-27 Net assets without donor restrictionsStart of year $152,960,474$177,216,839
X-28 Net assets with donor restrictionsStart of year $225,700,135$273,820,043
X-32 Total net assets or fund balancesStart of year $378,660,609$451,036,882
X-33 Total liabilities and net assetsStart of year $532,359,793$586,373,912
Part XI · Reconciliation of net assets $451,036,882 net assets at year end
XI-1 Total revenue$166,988,840
XI-2 Total expenses$153,262,573
XI-3 Revenue less expenses$13,726,267
XI-4 Net assets at start of year$378,660,609
XI-5 Net unrealized gains (losses) on investments$49,849,629
XI-9 Other changes in net assets$8,800,377
XI-10 Net assets at end of year$451,036,882

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

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