Cornell College EIN 42-0680335

Cornell College

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Fosters student curiosity, creativity, and moral courage in a supportive environment. For fiscal year 2025 it reported $87.7M in revenue, $86.3M in expenses, and $200.1M in net assets.Pt I

Founded
1854
Type
Higher education institution · Colleges & Universities
Location
Mount Vernon, IA
Website
www.cornellcollege.edu
Filings
6 on file (2020–2025)
Revenue
$87.7MFY2025
Expenses
$86.3M
Net assets
$200.1M
People
28
Filings
6
Updates
0
More identity details & actions ⌄
EIN  42-0680335 Higher education institution Mount Vernon, IA Founded 1854
Form 990 (PDF)
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Figures match the IRS filing checked 7/7/26 · see original: IRS
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Size
$10–100M
What they do
Fosters student curiosity, creativity, and moral courage in a supportive environment.
Leadership
Brand Jonathan · President · $349K
Money in and out
$87.7M revenue, $86.3M expenses
Bottom line
+2% operating surplus
Financial scale & money flow · FY2025
Total revenue
$87.7M
Pt VIII · Ln 12
Total expenses
$86.3M
Pt IX · Ln 25
Net assets
$200.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $1.4M
Where spending went · Part IX cols B–D
Program services $0.91 Management & general $0.06 Fundraising $0.03
Operating surplus
+2%
revenue over expenses, this legal entity▼ -11% vs prior filing year
Payroll share
27%
of this entity's spending is salaries & benefits▼ -2% vs prior filing year
Program spending
91%
of expenses reach program services▲ +1% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$87.7M
FY2025-0.2%
Expenses
$86.3M
FY2025+0.06%
Total assets
$230.2M
FY2025▲ +2%
Total liabilities
$30.2M
FY2025▼ -10%
Total revenue
$87.7M
Pt VIII · Ln 12
Total expenses
$86.3M
Pt IX · Ln 25
Net assets
$200.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$1.4M
Total assetsPt X · Ln 16$230.2M
Program-expense ratioPt IX · col B91%
Voting members of governing bodyPt I · Ln 318
Independent voting membersPt I · Ln 418
Mission & Programs · Part III

Where the work happens

3 program services account for $78.5M of program spending, described in the organization's 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

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCornell College
EINHdr · item D42-0680335
Principal addressHdr · item CMount Vernon, IA
WebsiteHdr · item Jwww.cornellcollege.edu
Year of formationHdr · item L1854
State of legal domicileHdr · item MIA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B420)
Ruling yearIRS BMFJul 1935

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a18
Independent voting membersPt VI · Ln 1b18
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
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 (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 3682 $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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Statement of Revenue

Part VIII
Program service revenue$68.1M · 78%
Contributions & grants$15.6M · 18%
Investment income$3.4M · 4%
Other revenue$632K · 1%
Program service revenue78%$68.1M
Contributions & grants18%$15.6M
Investment income4%$3.4M
Other revenue1%$632K
Total revenueLn 12$87.7M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.91 Management & general $0.06 Fundraising $0.03
Program services91%$78.5M
Management & general6%$5.1M
Fundraising3%$2.7M
Total functional expensesLn 25$86.3M

Balance Sheet

Part X · end of year
CashLn 1$7.3M
Total assetsLn 16$230.2M
Total liabilitiesLn 26$30.2M
Total net assetsLn 32$200.1M
Months of cash on handcomputed1.0

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $98.4M · Operating expenses (Pt IX) $86.3M · Less non-cash grants $1.4M · Cash operating expenses/yr $84.9M
13.9 months
Where the money goes
Program services
Program services $78.5M · Total expenses $86.3M
91%
Management & General
Management & general $5.1M · Total expenses $86.3M
6%
Fundraising
Fundraising $2.7M · Total expenses $86.3M
3%
Cost to raise $1
Fundraising expense (3-yr avg) $2.7M · Solicited contributions (3-yr avg) $14.0M
$0.19 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $15.6M · Total revenue $87.7M
18%
Government reliance
Government grants — · Total revenue $87.7M
Earned-income share
Program service revenue $68.1M · Total revenue $87.7M
78%
Investment reliance
Investment income $3.4M · Total revenue $87.7M
+4%
Program self-sufficiency
Program service revenue $68.1M · Total expenses $86.3M
79%
Growth & trend
Revenue growth (YoY)
This year $87.7M · Prior year $87.9M
-0.2%
Revenue CAGR
FY2019 $76.1M · FY2024 $87.7M
+3%
Net-asset trend (YoY)
End of year $200.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $87.7M · Expenses $86.3M
+2%
Liabilities-to-Assets
Total liabilities — · Total assets $230.2M
Net-asset ratio
Net assets $200.1M · Total assets $230.2M
87%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $90.4M · Other securities (Pt X, ln 12) $641K · Total assets (Pt X, ln 16) $230.2M
40%
People & payroll
Highest Reported Total Compensation
Individual Brand Jonathan · Reported title PRESIDENT · Highest reported compensation $349K · Total expenses $86.3M
0.4%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $22.9M · Total expenses $86.3M
27%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 91%
Overhead ratio 6%
Fundraising cost ratio 17%
Revenue growth -0.2%
Investment management fee ratio 0.03%
Legal fee ratio 0.1%
Accounting fee ratio 0.09%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 1 funder$6K
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 →

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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
FY2025 (Latest)$87.7M revenue · viewing · ⤓ 990 PDF
FY2024$87.9M revenue · ⤓ 990 PDF
FY2023$79.8M revenue · ⤓ 990 PDF
FY2022$83.9M revenue · ⤓ 990 PDF
FY2021$87.7M revenue · ⤓ 990 PDF
FY2020$76.1M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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