You’re viewing the FY2024 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 1938.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
87 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
48 people listed on the 990; $5.0M paid to officers and key staff.
Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Chief Investment Officer
$928,506Pt VII · Sec A
President
$700,689Pt VII · Sec A
Director of Investments
$597,384Pt VII · Sec A
VP for External Relations
$437,791Pt VII · Sec A
VP & Treasurer
$333,913Pt VII · Sec A
Provost & VP of Academic Affairs
$313,638Pt VII · Sec A
VP & Dean of Admissions & Financial Aid
$268,249Pt VII · Sec A
VP for Student Life & Dean of Students
$228,248Pt VII · Sec A
Professor of Economics
$225,201Pt VII · Sec A
Professor of Psychology
$223,737Pt VII · Sec A
Chief of Staff
$221,367Pt VII · Sec A
VP of External Relations (interim)
$202,847Pt VII · Sec A
President (former)
$186,576Pt VII · Sec A
Dean of the College Interim (former)
$147,839Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
VP of Development & Alumni Relations
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee Chair
$0Pt VII · Sec A
Trustee Vice Chair
$0Pt VII · Sec A
Trustee Vice Chair
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
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$0Pt VII · Sec A
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$0Pt VII · Sec A
Kelsey Deshler’s $926K as Chief Investment Officer is at the 71st 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
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Steven G Poskanzer | $191,161 | $186,576 | $371,884 | $929,007 | $490,860 | $501,366 |
| Kelsey Deshler | $925,537 | $928,506 | $789,397 | $682,497 | $524,127 | $662,584 |
| Alison Byerly | $736,099 | $700,689 | $669,567 | $309,081 | — | — |
| Timothy Griffeth | $508,373 | $597,384 | $514,098 | $446,348 | $362,832 | $342,367 |
| Thomas Bonner | — | $437,791 | $365,733 | $412,431 | $343,358 | $348,313 |
| Eric Runestad | $368,659 | $333,913 | $315,339 | $288,080 | $137,094 | — |
| Frederick a Rogers | — | — | — | — | $345,305 | $352,662 |
| Beverly Nagel | — | — | $335,585 | $337,224 | $320,902 | $324,466 |
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 Carleton College 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 an exceptional undergraduate liberal arts education alongside residential student services, co-curricular activities, and recreational opportunities for over 2,000 students.
Questions for Carleton College
Your first name shows with your question. Carleton College answers here, for everyone.
3 programs · $192.9M · in their own filed words · FY2023
01
Instruction
Carleton college exists to provide an exceptional liberal arts education for students, preparing them for leadership in their communities, countries and the world (2,019 students). A student - faculty ratio of 9:1 supports classroom, laboratory, off-campus study and research opportunities, average class size is 17, student financial aid…
$141.5Mprogram expense
02
Academic Support
Programs to enhance the carleton liberal arts experience with library and information technology resources (2,019 students).
$29.9Mprogram expense
03
Student Services Programs
Programs designed to support the residential carleton college student life experience including co-curricular and recreational opportunities (2,019 students).
$21.4Mprogram 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
The Annexstad Family FoundationFY2025$28K
Tua Janet B Northup CharitableFY2025$27K
Hispanic Scholarship FundFY2025$20K
Folds of Honor FoundationFY2025$6K
Rooted PhilanthropicFY2025$4K
Canmann Family FoundationFY2025$3K
Walcott Family FoundationFY2025$3K
Total grants receivedfrom 9 funders$117K
Grants paid · 39 grants · $337.3M · 2019–2024
Unitemized GrantFY2024$68,060,091
Northfield Public SchoolsFY2024$1,000,000
University of ConnecticutFY2024$227,555
University of Wisconsin - MadisonFY2024$159,981
BiodiversityME · FY2024$110,594
University of California - DavisFY2024$90,117
City of NorthfieldFY2024$85,000
University of WashingtonFY2024$41,251
University of San DiegoCA · FY2024$35,547
Unitemized GrantFY2023$61,540,680
University of ConnecticutFY2023$200,180
University of Wisconsin - MadisonFY2023$127,156
City of NorthfieldFY2023$80,000
University of WashingtonFY2023$27,119
University of California - DavisFY2023$24,206
BiodiversityME · FY2023$23,613
Unitemized GrantFY2022$56,677,887
City of NorthfieldFY2022$80,000
Federal money
Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $12.2M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$3.9M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.5M
Mathematical and Physical SciencesNational Science Foundation · ALN 47.049 · Direct$1.2M
Federal Perkins Loan Program_federal Capital ContributionsDepartment of Education · ALN 84.038 · Direct$974K
Stem Education (formerly Education and Human Resources)National Science Foundation · ALN 47.076 · Direct and through Virginia Polytechnic Institute and State University (virginia Tech and 8 more$893K
Plus 21 smaller programs.
The auditor reported 10 findings: a weakness in money controls, questioned costs.
Year ending Jun 2024 · $11.3M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$3.9M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$2.0M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$1.3M
Mathematical and Physical SciencesNational Science Foundation · ALN 47.049 · Direct$777K
Stem Education (formerly Education and Human Resources)National Science Foundation · ALN 47.076 · Direct and through Virginia Polytechnic Institute and State University (virginia Tech) and 10 more$685K
Plus 25 smaller programs.
The auditor reported 5 findings: a weakness in money controls.
Year ending Jun 2023 · $13.4M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$3.6M
Disaster Grants - Public Assistance (presidentially Declared Disasters)Department of Homeland Security · ALN 97.036 · Direct$2.7M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$1.8M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.5M
Education and Human ResourcesNational Science Foundation · ALN 47.076 · Direct and through Virginia Polytechnic Institute and 13 more$877K
Plus 24 smaller programs.
The auditor reported 5 findings: a weakness in money controls.
Year ending Jun 2022 · $12.2M federal money spent
Federal Family Education Loan ProgramDepartment of Education · ALN 84.268 · Direct$3.7M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$2.4M
Federal Emergency Management AgencyDepartment of Homeland Security · ALN 97.036 · Direct$1.4M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.4M
Education & Human ResourcesNational Science Foundation · ALN 47.076 · Direct and through University of Northern Colorado and 12 more$1.0M
Plus 19 smaller programs.
The auditor reported no findings.
By the numbers
The FY2024 990, line by line.
Download 990
1The main four
Money inPt VIII
$279.0M
Ln 12
Fees for servicesLn 2g$162.2M
Investment incomeLn 3$69.3M
Gifts and grantsLn 1h$44.9M
Money outPt IX
$254.0M
Ln 25
Programscol B$221.6M
Managementcol C$26.0M
Fundraisingcol D$6.4M
Owns and owesPt X
$1.7B
net assets · Ln 32
Cash and savingsLn 1–2$37.1M
Total assetsLn 16$1.9B
LiabilitiesLn 26$230.5M
PeoplePt VI, VII
48
listed · VII A
PaidVII A14
Voting boardVI 1a34
IndependentVI 1b33
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$44.9M
Government grantsLn 1e$6.6M
Noncash giftsLn 1g$10.7M
Fees for servicesLn 2g$162.2M
Investment incomeLn 3$69.3M
Other incomeLn 4–11$2.5M
Gains on assetsLn 7$49.5M
Total revenueLn 12$279.0M
Assets in detailPt X, end of year
SavingsLn 2$37.1M
Cash and savings togetherLn 1–2$37.1M
Pledges and grants receivableLn 3$13.1M
Accounts receivableLn 4$3.6M
Inventories for sale or useLn 8$453K
Prepaid expenses and deferred chargesLn 9$2.5M
Land, buildings, equipmentLn 10c$392.9M
InvestmentsLn 11–13$1.38B
Other assetsLn 15$56.8M
Total assetsLn 16$1.9B
LiabilitiesLn 26$230.5M
Net assetsLn 32$1.7B
OperationsPt I, VI
EmployeesI 52,812
VolunteersI 63,401
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$173.9M
Bond issues listedSch K Pt I2
Raised by those issuesSch K Pt I$185.4M
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$10.7M
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$8.3M
Share of the $1.26B endowmentSch D 1g0.66%
Typical, median of 1,806 orgs0.44%
EndowmentSch D · Pt V
| Line | FY24 | FY23 | FY22 | FY21 | FY20 |
|---|---|---|---|---|---|
| End of yearLn 1g | $1.26B | $1.18B | $1.11B | $1.18B | $877.3M |
| Given inLn 1b | $18.9M | $16.0M | $24.2M | $63.4M | $23.1M |
| SpentLn 1d–1f | $60.1M | $56.6M | $56.9M | $53.6M | $50.5M |
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $31.7M | $37.1M |
| InvestmentsLn 11–13 | $1.30B | $1.38B |
| Land, buildings, equipmentLn 10c | $359.6M | $392.9M |
| Total assetsLn 16 | $1.73B | $1.88B |
| LiabilitiesLn 26 | $162.2M | $230.5M |
| Net assetsLn 32 | $1.57B | $1.65B |
5Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $482K | $482K | ||
| Grants to domestic individualsLn 2 | $61.5M | $61.5M | ||
| Pay of current officers, directors and key staffLn 5 | $2.6M | $202K | $2.0M | $464K |
| Pay of disqualified personsLn 6 | $360K | $72K | $210K | $78K |
| Other salaries and wagesLn 7 | $76.8M | $68.1M | $5.9M | $2.8M |
| Pension plan contributionsLn 8 | $6.9M | $5.3M | $1.2M | $346K |
| Other employee benefitsLn 9 | $13.0M | $10.5M | $2.0M | $503K |
| Payroll taxesLn 10 | $5.3M | $4.5M | $599K | $242K |
| Legal feesLn 11b | $414K | $414K | ||
| Accounting feesLn 11c | $119K | $119K | ||
| Investment management feesLn 11f | $8.3M | $8.3M | ||
| Other fees for servicesLn 11g | $10.5M | $7.5M | $2.1M | $867K |
| Advertising and promotionLn 12 | $105K | $44K | $55K | $5K |
| Office expensesLn 13 | $4.3M | $3.9M | −$4K | $482K |
| Information technologyLn 14 | $3.5M | $3.4M | $17K | $49K |
| OccupancyLn 16 | $9.0M | $9.0M | ||
| TravelLn 17 | $9.4M | $8.9M | $208K | $330K |
| Conferences, conventions and meetingsLn 19 | $1.2M | $978K | $47K | $151K |
| InterestLn 20 | $4.5M | $4.5M | ||
| Depreciation, depletion and amortizationLn 22 | $15.4M | $15.3M | $90K | $11K |
| InsuranceLn 23 | $1.4M | $698K | $684K | $81 |
| Other expenses (24a–d)Ln 24 | $18.6M | $16.6M | $2.0M | $25K |
| Total functional expensesLn 25 | $254.0M | $221.6M | $26.0M | $6.4M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Apr 8, 2026 | $315.1M | $261.2M | $53.8M | $1.8B | 990 PDF |
| FY2024 ViewingFiled with the IRS Apr 12, 2025 | $279.0M | $254.0M | $25.0M | $1.7B | 990 PDF |
| FY2023Filed with the IRS Apr 12, 2024 | $296.5M | $240.0M | $56.5M | $1.6B | 990 PDF |
| FY2022Filed with the IRS May 13, 2023 | $281.0M | $223.8M | $57.1M | $1.5B | 990 PDF |
| FY2021Filed with the IRS Apr 20, 2022 | $320.8M | $203.4M | $117.4M | $1.6B | 990 PDF |
| FY2020Filed with the IRS Apr 7, 2021 | $240.3M | $199.4M | $40.8M | $1.2B | 990 PDF |
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 FY2024 990 (6 parts)
Part I · Summary $278,954,694 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $45,960,724$44,938,663
I-9 Program service revenuePrior year $153,602,800$162,175,452
I-10 Investment incomePrior year $92,503,081$69,326,331
I-11 Other revenuePrior year $4,455,645$2,514,248
I-12 Total revenuePrior year $296,522,250$278,954,694
I-13 Grants and similar amounts paidPrior year $56,935,377$62,022,954
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $98,895,653$105,153,850
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $84,150,745$86,815,637
I-18 Total expensesPrior year $239,981,775$253,992,441
I-19 Revenue less expensesPrior year $56,540,475$24,962,253
Part VI · Governance 33 of 34 board members independent, no flags
VI-1a Voting members of the governing body34
VI-1b Independent voting members33
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 $278,954,694 across 11 lines filed
VIII-1e Government grants$6,645,311
VIII-1f All other contributions, gifts and grants$38,293,352
VIII-1g Noncash contributions (included above)$10,715,079
VIII-1h Total contributions, gifts and grants$44,938,663
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $162,175,452$162,175,452
VIII-3 Investment incomeUnrelated business $2,251,546 · Excluded from tax $17,545,861$19,797,407
VIII-5 RoyaltiesExcluded from tax $23,415$23,415
VIII-6 Net rental income or lossExcluded from tax −$144,661−$144,661
VIII-7 Net gain or loss on sales of assetsExcluded from tax $49,528,924$49,528,924
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $132,756 · Excluded from tax $2,502,738$2,635,494
VIII-12 Total revenueRelated to mission $162,175,452 · Unrelated business $2,384,302 · Excluded from tax $69,456,277$278,954,694
Part IX · Statement of functional expenses $253,992,441 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $482,274$482,274
IX-2 Grants to domestic individualsPrograms $61,540,680$61,540,680
IX-5 Pay of current officers, directors and key staffPrograms $202,153 · Management $1,980,190 · Fundraising $464,401$2,646,744
IX-6 Pay of disqualified personsPrograms $72,010 · Management $210,140 · Fundraising $77,900$360,050
IX-7 Other salaries and wagesPrograms $68,077,777 · Management $5,940,117 · Fundraising $2,831,623$76,849,517
IX-8 Pension plan contributionsPrograms $5,330,528 · Management $1,244,935 · Fundraising $345,677$6,921,140
IX-9 Other employee benefitsPrograms $10,503,220 · Management $2,031,267 · Fundraising $503,183$13,037,670
IX-10 Payroll taxesPrograms $4,498,163 · Management $599,050 · Fundraising $241,516$5,338,729
IX-11b Legal feesManagement $413,691$413,691
IX-11c Accounting feesManagement $119,285$119,285
IX-11f Investment management feesManagement $8,323,684$8,323,684
IX-11g Other fees for servicesPrograms $7,535,853 · Management $2,116,438 · Fundraising $866,702$10,518,993
IX-12 Advertising and promotionPrograms $44,353 · Management $55,457 · Fundraising $5,106$104,916
IX-13 Office expensesPrograms $3,869,912 · Management −$4,089 · Fundraising $482,053$4,347,876
IX-14 Information technologyPrograms $3,448,717 · Management $16,583 · Fundraising $48,924$3,514,224
IX-16 OccupancyPrograms $9,041,282$9,041,282
IX-17 TravelPrograms $8,857,154 · Management $207,915 · Fundraising $329,560$9,394,629
IX-19 Conferences, conventions and meetingsPrograms $978,390 · Management $47,345 · Fundraising $151,176$1,176,911
IX-20 InterestPrograms $4,510,884$4,510,884
IX-22 Depreciation, depletion and amortizationPrograms $15,276,212 · Management $90,313 · Fundraising $11,454$15,377,979
IX-23 InsurancePrograms $698,217 · Management $683,574 · Fundraising $81$1,381,872
IX-24 Other expenses (24a–d)Programs $16,590,721 · Management $1,973,815 · Fundraising $24,875$18,589,411
IX-25 Total functional expensesPrograms $221,558,500 · Management $26,049,710 · Fundraising $6,384,231$253,992,441
Part X · Balance sheet $1,883,994,794 assets, 21 lines filed
X-2 Savings and temporary cash investmentsStart of year $31,676,170$37,077,747
X-3 Pledges and grants receivableStart of year $15,904,933$13,137,894
X-4 Accounts receivableStart of year $1,900,890$3,574,767
X-8 Inventories for sale or useStart of year $407,950$453,469
X-9 Prepaid expenses and deferred chargesStart of year $2,039,742$2,466,716
X-10c Land, buildings and equipment, netStart of year $359,566,453$392,921,373
X-11 Publicly traded securitiesStart of year $563,288,481$610,908,268
X-12 Other securitiesStart of year $735,505,260$765,240,811
X-13 Program-related investmentsStart of year $1,853,461$1,455,914
X-15 Other assetsStart of year $15,163,905$56,757,835
X-16 Total assetsStart of year $1,727,307,245$1,883,994,794
X-17 Accounts payable and accrued expensesStart of year $21,742,802$30,134,094
X-19 Deferred revenueStart of year $5,343,619$5,299,903
X-20 Tax-exempt bond liabilitiesStart of year $114,233,253$173,867,603
X-21 Escrow or custodial accountsStart of year $195,008$448,279
X-25 Other liabilitiesStart of year $20,707,801$20,765,355
X-26 Total liabilitiesStart of year $162,222,483$230,515,234
X-27 Net assets without donor restrictionsStart of year $719,103,552$734,262,157
X-28 Net assets with donor restrictionsStart of year $845,981,210$919,217,403
X-32 Total net assets or fund balancesStart of year $1,565,084,762$1,653,479,560
X-33 Total liabilities and net assetsStart of year $1,727,307,245$1,883,994,794
Part XI · Reconciliation of net assets $1,653,479,560 net assets at year end
XI-1 Total revenue$278,954,694
XI-2 Total expenses$253,992,441
XI-3 Revenue less expenses$24,962,253
XI-4 Net assets at start of year$1,565,084,762
XI-5 Net unrealized gains (losses) on investments$65,357,462
XI-9 Other changes in net assets−$1,924,917
XI-10 Net assets at end of year$1,653,479,560
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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