To create a space where students can develop intellectual curiosity, creativity and moral courage.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 150 volunteers and 983 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
5 of 6
filings with a surplus
Average surplus $4.8M a year · 6% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.3M
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 $92.5M in investments, Pt X · Ln 11–13
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $46K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$30.2M
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$87.7M
-0.2% vs prior year
Spent
$86.3M
To programs
91%
Net assets
$200.1M
By yearFY2020–FY2025
Revenue
$87.7M
FY2025-0.2%
Tap a bar for its year
Revenue by fiscal year
FY2020$76.1M
FY2021$87.7M
FY2022$83.9M
FY2023$79.8M
FY2024$87.9M
FY2025$87.7M
Expenses
$86.3M
FY2025+0.06%
Tap a bar for its year
Expenses by fiscal year
FY2020$69.0M
FY2021$68.5M
FY2022$80.0M
FY2023$83.9M
FY2024$86.3M
FY2025$86.3M
Net assets
$200.1M
FY2025▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$167.1M
FY2021$192.5M
FY2022$178.6M
FY2023$181.1M
FY2024$191.2M
FY2025$200.1M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1935.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $78.5M Management & general 6% · $5.1M Fundraising 3% · $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

28 people listed on the 990; $1.3M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$348,958Pt VII · Sec A
VP for Enrollment Management
$234,657Pt VII · Sec A
VP, CFO/COO
$216,685Pt VII · Sec A
VP for Academic Affairs
$164,560Pt VII · Sec A
Senior Director
$122,545Pt VII · Sec A
Special Assistant to the President
$109,016Pt VII · Sec A
Professor of Economics and Business
$103,541Pt VII · Sec A
At-Large, Executive Committee
$0Pt VII · Sec A

Brand Jonathan’s $349K as President is at the 73rd percentile of top reported officer pay among 3683 $10–100M 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
Brand Jonathan$348,958$334,837———$323,138
Brand Johnathan——$334,155$328,572——
Jonathan Brand————$328,956—
Layzell Dan——$179,408$252,814——
Beckemeyer Wendy$234,657$224,549$230,920$235,070——
Flege Kelly$216,685$191,155————
Gerard Pam—————$204,569
Kay Langseth————$193,395—

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

Fosters student curiosity, creativity, and moral courage in a supportive environment.

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Provided by the organization

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3 programs · $78.5M · in their own filed words · FY2024
01

Instruction, academic support, continuing education and the library:cornell college, a selective liberal arts college in mount vernon, iowa, is recognized as one of the "colleges that change lives." the academic immersion of its one course at a time curriculum allows students to focus on a single academic subject per 18-DAY block.

$57.4Mprogram expense
02

Student Aid and Financial Assistance

Students invest in their education at cornell college, and cornell invests in their futures. Cornell college graduates are getting jobs and not burdened by debt, as shown by our low average loan default rate. Compared to graduates of other four-year institutions, cornellians are twice as likely to have the means to pay off student loans.

$12.3Mprogram expense
03

Auxiliary enterprises (housing, dining, student union and service center): founded in 1853, cornell's picturesque hilltop campus contains a mix of historic and modern facilities, ranging from the majestic king chapel to the newly renovated thomas commons.

$8.8Mprogram 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
Total grants receivedfrom 2 funders$46K
Grants paid · 26 grants · $199.6M · 2019–2024
Unitemized GrantFY2024$33,932,184
Unitemized GrantFY2024$3,593,052
Unitemized GrantFY2024$1,519,852
Unitemized GrantFY2024$254,432
Unitemized GrantFY2023$31,974,213
Unitemized GrantFY2023$3,271,590
Unitemized GrantFY2023$1,467,982
Unitemized GrantFY2023$226,640
Unitemized GrantFY2022$29,965,469
Unitemized GrantFY2022$3,047,241
Unitemized GrantFY2022$1,443,669
Unitemized GrantFY2022$182,488
Unitemized GrantFY2021$27,137,329
Unitemized GrantFY2021$3,126,653
Unitemized GrantFY2021$1,541,250
Unitemized GrantFY2021$1,191,146
Unitemized GrantFY2021$299,589
Unitemized GrantFY2020$23,261,993
See all 26 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$87.7M
Ln 12
Fees for servicesLn 2g$68.1M
Gifts and grantsLn 1h$15.6M
Investment incomeLn 3$3.4M
Money outPt IX
$86.3M
Ln 25
Programscol B$78.5M
Managementcol C$5.1M
Fundraisingcol D$2.7M
Owns and owesPt X
$200.1M
net assets · Ln 32
Cash and savingsLn 1–2$7.3M
Total assetsLn 16$230.2M
LiabilitiesLn 26$30.2M
PeoplePt VI, VII
28
listed · VII A
PaidVII A7
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$15.6M
Noncash giftsLn 1g$1.4M
Fundraising eventsLn 1c$4K
Fees for servicesLn 2g$68.1M
Investment incomeLn 3$3.4M
Other incomeLn 4–11$632K
Gains on assetsLn 7$723K
Total revenueLn 12$87.7M
Assets in detailPt X, end of year
CashLn 1$21K
SavingsLn 2$7.3M
Cash and savings togetherLn 1–2$7.3M
InvestmentsLn 11–13$92.5M
Land, buildings, equipmentLn 10c$103.6M
Other assetsLn 15$10.9M
Total assetsLn 16$230.2M
LiabilitiesLn 26$30.2M
Net assetsLn 32$200.1M
OperationsPt I, VI
EmployeesI 5983
VolunteersI 6150
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 FY25End FY25
Cash and savingsLn 1–2$6.6M$7.3M
InvestmentsLn 11–13$84.8M$92.5M
Land, buildings, equipmentLn 10c$107.4M$103.6M
Total assetsLn 16$224.8M$230.2M
LiabilitiesLn 26$33.6M$30.2M
Net assetsLn 32$191.2M$200.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$39.3M$39.3M
Grants and assistance to foreign recipientsLn 3$52K$52K
Pay of current officers, directors and key staffLn 5$678K$678K
Other salaries and wagesLn 7$17.0M$14.3M$1.3M$1.4M
Pension plan contributionsLn 8$1.1M$919K$74K$88K
Other employee benefitsLn 9$2.9M$2.4M$295K$226K
Payroll taxesLn 10$1.2M$993K$135K$95K
Management feesLn 11a$291K$72K$217K$2K
Legal feesLn 11b$97K$4K$93K
Accounting feesLn 11c$80K$80K
Investment management feesLn 11f$73K$73K
Other fees for servicesLn 11g$96K$24K$73K
Advertising and promotionLn 12$1.3M$1.1M$13K$103K
Office expensesLn 13$1.8M$1.5M$106K$245K
Information technologyLn 14$1.1M$242K$704K$113K
OccupancyLn 16$4.0M$3.8M$78K$95K
TravelLn 17$2.0M$1.7M$87K$132K
Conferences, conventions and meetingsLn 19$88K$67K$14K$7K
InterestLn 20$1.6M$1.5M$84K$14K
Depreciation, depletion and amortizationLn 22$6.5M$6.3M$154K$80K
InsuranceLn 23$893K$120$892K
Other expenses (24a–d)Ln 24$4.4M$4.3M$6K$27K
Total functional expensesLn 25$86.3M$78.5M$5.1M$2.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $87.7M$86.3M$1.4M$200.1M 990 PDF
FY2024 $87.9M$86.3M$1.6M$191.2M 990 PDF
FY2023 $79.8M$83.9M−$4.1M$181.1M 990 PDF
FY2022 $83.9M$80.0M$3.8M$178.6M 990 PDF
FY2021 $87.7M$68.5M$19.2M$192.5M 990 PDF
FY2020 $76.1M$69.0M$7.1M$167.1M 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 F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $87,741,912 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,792,285$15,641,479
I-9 Program service revenuePrior year $65,278,441$68,104,442
I-10 Investment incomePrior year $2,239,141$3,364,058
I-11 Other revenuePrior year $7,564,338$631,933
I-12 Total revenuePrior year $87,874,205$87,741,912
I-13 Grants and similar amounts paidPrior year $36,965,410$39,351,490
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $23,251,914$22,905,943
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $26,077,566$24,085,959
I-18 Total expensesPrior year $86,294,890$86,343,392
I-19 Revenue less expensesPrior year $1,579,315$1,398,520
Part VI · Governance 18 of 18 board members independent, no flags
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
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 $87,741,912 across 11 lines filed
VIII-1c Fundraising events$3,645
VIII-1f All other contributions, gifts and grants$15,637,834
VIII-1g Noncash contributions (included above)$1,432,214
VIII-1h Total contributions, gifts and grants$15,641,479
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $68,104,442$68,104,442
VIII-3 Investment incomeUnrelated business $1,988 · Excluded from tax $2,639,547$2,641,535
VIII-6 Net rental income or lossExcluded from tax $88,086$88,086
VIII-7 Net gain or loss on sales of assetsExcluded from tax $722,523$722,523
VIII-8 Net income from fundraising eventsExcluded from tax $3,601$3,601
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $72,552 · Excluded from tax $467,694$540,246
VIII-12 Total revenueRelated to mission $68,104,442 · Unrelated business $74,540 · Excluded from tax $3,921,451$87,741,912
Part IX · Statement of functional expenses $86,343,392 across 22 lines filed
IX-2 Grants to domestic individualsPrograms $39,299,520$39,299,520
IX-3 Grants and assistance to foreign recipientsPrograms $51,970$51,970
IX-5 Pay of current officers, directors and key staffManagement $678,257$678,257
IX-7 Other salaries and wagesPrograms $14,327,842 · Management $1,345,301 · Fundraising $1,371,598$17,044,741
IX-8 Pension plan contributionsPrograms $919,413 · Management $73,660 · Fundraising $88,015$1,081,088
IX-9 Other employee benefitsPrograms $2,358,721 · Management $294,752 · Fundraising $225,761$2,879,234
IX-10 Payroll taxesPrograms $992,716 · Management $134,875 · Fundraising $95,032$1,222,623
IX-11a Management feesPrograms $72,014 · Management $217,339 · Fundraising $2,076$291,429
IX-11b Legal feesPrograms $4,000 · Management $93,300$97,300
IX-11c Accounting feesManagement $80,054$80,054
IX-11f Investment management feesManagement $72,844$72,844
IX-11g Other fees for servicesPrograms $23,542 · Fundraising $72,747$96,289
IX-12 Advertising and promotionPrograms $1,138,587 · Management $12,685 · Fundraising $102,717$1,253,989
IX-13 Office expensesPrograms $1,476,957 · Management $106,454 · Fundraising $245,198$1,828,609
IX-14 Information technologyPrograms $242,163 · Management $704,199 · Fundraising $112,910$1,059,272
IX-16 OccupancyPrograms $3,782,102 · Management $78,063 · Fundraising $94,913$3,955,078
IX-17 TravelPrograms $1,732,448 · Management $86,883 · Fundraising $132,131$1,951,462
IX-19 Conferences, conventions and meetingsPrograms $66,833 · Management $13,974 · Fundraising $6,866$87,673
IX-20 InterestPrograms $1,458,297 · Management $84,266 · Fundraising $14,417$1,556,980
IX-22 Depreciation, depletion and amortizationPrograms $6,276,667 · Management $154,447 · Fundraising $80,283$6,511,397
IX-23 InsurancePrograms $120 · Management $892,496$892,616
IX-24 Other expenses (24a–d)Programs $4,318,499 · Management $5,602 · Fundraising $26,866$4,350,967
IX-25 Total functional expensesPrograms $78,542,411 · Management $5,129,451 · Fundraising $2,671,530$86,343,392
Part X · Balance sheet $230,242,441 assets, 22 lines filed
X-1 Cash, non-interest-bearing$21,276
X-2 Savings and temporary cash investmentsStart of year $6,592,820$7,289,065
X-3 Pledges and grants receivableStart of year $12,975,150$14,530,316
X-4 Accounts receivableStart of year $637,968$621,348
X-8 Inventories for sale or useStart of year $79,609$69,634
X-9 Prepaid expenses and deferred chargesStart of year $773,841$741,791
X-10c Land, buildings and equipment, netStart of year $107,362,738$103,581,447
X-11 Publicly traded securitiesStart of year $82,850,297$90,416,854
X-12 Other securitiesStart of year $673,253$640,569
X-13 Program-related investmentsStart of year $1,265,209$1,420,599
X-15 Other assetsStart of year $11,611,869$10,909,542
X-16 Total assetsStart of year $224,822,754$230,242,441
X-17 Accounts payable and accrued expensesStart of year $4,089,103$2,285,555
X-19 Deferred revenueStart of year $266,799$355,257
X-20 Tax-exempt bond liabilitiesStart of year $7,500,000$6,062,500
X-24 Unsecured notes and loans payableStart of year $16,235,146$15,175,329
X-25 Other liabilitiesStart of year $5,493,116$6,292,275
X-26 Total liabilitiesStart of year $33,584,164$30,170,916
X-27 Net assets without donor restrictionsStart of year $90,022,593$91,081,531
X-28 Net assets with donor restrictionsStart of year $101,215,997$108,989,994
X-32 Total net assets or fund balancesStart of year $191,238,590$200,071,525
X-33 Total liabilities and net assetsStart of year $224,822,754$230,242,441
Part XI · Reconciliation of net assets $200,071,525 net assets at year end
XI-1 Total revenue$87,741,912
XI-2 Total expenses$86,343,392
XI-3 Revenue less expenses$1,398,520
XI-4 Net assets at start of year$191,238,590
XI-5 Net unrealized gains (losses) on investments$7,467,627
XI-9 Other changes in net assets−$33,212
XI-10 Net assets at end of year$200,071,525

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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