Cornell College FY2022 filing

Mount Vernon, IA · Higher education institution · Since 1854 · Colleges & Universities

✓ Tax-deductible
Revenue
$83.9M
-4% vs prior year
Spent
$80.0M
To programs
88%
Net assets
$178.6M
By yearFY2020–FY2025
Revenue
$83.9M
FY2022▼ -4%
Revenue by fiscal year
FY2020$76.1M
FY2021$87.7M
FY2022$83.9M
FY2023$79.8M
FY2024$87.9M
FY2025$87.7M
Expenses
$80.0M
FY2022▲ +17%
Expenses by fiscal year
FY2020$69.0M
FY2021$68.5M
FY2022$80.0M
FY2023$83.9M
FY2024$86.3M
FY2025$86.3M
Net assets
$178.6M
FY2022▼ -7%
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 FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2025 (typical filing lag)
Legal name (IRS)Hdr · item CCornell College
EINHdr · item D42-0680335
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJul 1935
Year of formationHdr · item L1854
Latest filingForm 990FY2025 · Form 990-T
Principal addressHdr · item CMount Vernon, IA
NTEE classificationIRS BMFColleges & Universities (B420)
WebsiteHdr · item Jwww.cornellcollege.edu

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.09 Fundraising $0.03
Program services88%$70.3M
Management & general9%$7.5M
Fundraising3%$2.3M
Total functional expensesLn 25$80.0M

Financial health

Is it on solid ground?

Summary of the Filing

Part I · fiscal year 2022 · Form 990-T
Total assets
$226.3M
FY2022▼ -3%
Total assets by fiscal year
FY2020$214.5M
FY2021$232.4M
FY2022$226.3M
FY2023$226.7M
FY2024$224.8M
FY2025$230.2M
Total liabilities
$47.7M
FY2022▲ +20%
Total liabilities by fiscal year
FY2020$47.4M
FY2021$39.9M
FY2022$47.7M
FY2023$45.6M
FY2024$33.6M
FY2025$30.2M
Revenue less expensesPt I · Ln 19$3.8M
Total assetsPt X · Ln 16$226.3M
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 339
Independent voting membersPt I · Ln 438

Balance Sheet

Part X · end of year
CashLn 1$9.7M
Total assetsLn 16$226.3M
Total liabilitiesLn 26$47.7M
Total net assetsLn 32$178.6M
Months of cash on handcomputed1.5

Statement of Revenue

Part VIII
Program service revenue$59.1M · 71%
Contributions & grants$16.9M · 20%
Investment income$5.9M · 7%
Other revenue$2.0M · 2%
Program service revenue71%$59.1M
Contributions & grants20%$16.9M
Investment income7%$5.9M
Other revenue2%$2.0M
Total revenueLn 12$83.9M

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$328,572Pt VII · Sec A
Treasurer/VP, CFO/COO
$252,814Pt VII · Sec A
VP for Enrollment Mgmt
$235,070Pt VII · Sec A
VP for Academic Affairs
$162,509Pt VII · Sec A
Director of IT
$133,428Pt VII · Sec A
Avp for Alumni & College Adv
$130,550Pt VII · Sec A
Special Asst to the President
$130,151Pt 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.

See Cornell College executive salaries →

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Governance & Policies

Part VI
  • 39Voting board membersPt VI · Ln 1a
  • 38Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

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

Provided by the organization

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Mission & Programs · Part III

Where the work happens

3 program services account for $70.3M of program spending, described in the organization's own filed words · FY2021.
01

Instruction, academic support, continuing education in 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.

$50.7Mprogram 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.

$10.6Mprogram 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.

$9.0Mprogram expense

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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
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 →

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2025 Latest $87.7M$86.3M-0.2% 990 PDF
FY2024 $87.9M$86.3M+10% 990 PDF
FY2023 $79.8M$83.9M-5% 990 PDF
FY2022 Viewing $83.9M$80.0M-4% 990 PDF
FY2021 $87.7M$68.5M+15% 990 PDF
FY2020 $76.1M$69.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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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
Names, privacy, and removal requests More

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