Loras College: FY2022 Nonprofit Profile & Form 990 (EIN 42-0680412)

Revenue by fiscal year
FY2020	$64.0M
FY2021	$65.0M
FY2022	$75.4M
FY2023	$67.4M
FY2024	$63.3M
FY2025	$71.8M

Expenses by fiscal year
FY2020	$64.5M
FY2021	$64.0M
FY2022	$67.1M
FY2023	$65.9M
FY2024	$67.5M
FY2025	$69.1M

Net assets by fiscal year
FY2020	$45.8M
FY2021	$56.2M
FY2022	$59.4M
FY2023	$52.6M
FY2024	$51.3M
FY2025	$53.7M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1939.

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

Where the money goes

94 cents of each dollar spent went to programs.

94%

Program services 94% · $63.3M Management & general 3% · $2.0M Fundraising 3% · $1.8M

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; $1.3M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII

James E Collins

President

$413,055Pt VII · Sec A

Michael H Doyle

Treasu., VP, Inst. Adv. (term 12/21)

$194,788Pt VII · Sec A

Craig Schaefer

Director of Tv Studio

$178,305Pt VII · Sec A

Donna Heald

VP for Academic Affairs

$168,410Pt VII · Sec A

Mary Ellen Carroll

Senior Vice President

$136,721Pt VII · Sec A

Arthur Sunleaf

VP for Student Development

$111,267Pt VII · Sec A

Tom Kruse

Chief Information & Budget Officer

$108,559Pt VII · Sec A

Scott McClure

VP for Institutional Advance

$33,282Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
James E Collins	$391,745	$380,783	$367,713	$413,055	$399,875	$378,836
Craig Schaefer	$252,005	$266,819	$176,406	$178,305	$176,872	$173,834
Michael H Doyle	—	—	—	$194,788	$213,878	$200,174
Josh Boots	$173,861	$26,054	—	—	—	—
Margaret Tungseth	$129,379	$169,656	$166,187	—	—	—
Donna Heald	$164,397	$164,568	$157,598	$168,410	$162,648	$149,676
Mary Ellen Carroll	—	$45,773	$127,301	$136,721	$135,487	$129,191
Arthur Sunleaf	$130,645	$126,051	$110,309	$111,267	$110,404	$103,244

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

Educates students through academic programs, student development, and intercollegiate athletics.

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Provided by the organization

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3 programs · $50.7M · in their own filed words · FY2021

01

Scholarships and grants to students

$25.5Mprogram expense

02

Instruction and academic support provided to full and part time students (1,323 full time equivalent students).

$14.3Mprogram expense

03

Student services, including student development, intercollegiate athletics and other services.

$10.9Mprogram 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

Saeman Family Foundation a Charitable TrustFY2025$200K

The Ayco Charitable FoundationFY2025$100K

Spahn & Rose Lumber Co Charitable FoundationFY2025$1K

Total grants receivedfrom 3 funders$301K

See all 3 funders →

Grants paid · 9 grants · $154.7M · 2019–2024

Unitemized GrantFY2024$27,187,767

Unitemized GrantFY2023$25,507,704

Unitemized GrantFY2022$25,130,373

State University of Iowa FoundationIA · FY2022$55,000

Unitemized GrantFY2021$25,538,475

Unitemized GrantFY2020$25,770,327

State University of Iowa FoundationIA · FY2020$48,632

Unitemized GrantFY2019$25,331,246

State University of Iowa FoundationIA · FY2019$105,000

By the numbers

The FY2022 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$75.4M

Ln 12

Fees for servicesLn 2g$50.2M

Gifts and grantsLn 1h$21.6M

Investment incomeLn 3$3.4M

Money outPt IX

$67.1M

Ln 25

Programscol B$63.3M

Managementcol C$2.0M

Fundraisingcol D$1.8M

Owns and owesPt X

$59.4M

net assets · Ln 32

Cash and savingsLn 1–2$619K

Total assetsLn 16$125.5M

LiabilitiesLn 26$66.1M

PeoplePt VI, VII

40

listed · VII A

PaidVII A8

Voting boardVI 1a25

IndependentVI 1b24

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$21.6M

Government grantsLn 1e$7.9M

Noncash giftsLn 1g$825K

Fees for servicesLn 2g$50.2M

Investment incomeLn 3$3.4M

Other incomeLn 4–11$176K

Gains on assetsLn 7$1.8M

Total revenueLn 12$75.4M

Assets in detailPt X, end of year

CashLn 1$6K

SavingsLn 2$614K

Cash and savings togetherLn 1–2$619K

InvestmentsLn 11–13$41.7M

Land, buildings, equipmentLn 10c$52.2M

Other assetsLn 15$4.6M

Total assetsLn 16$125.5M

LiabilitiesLn 26$66.1M

Net assetsLn 32$59.4M

OperationsPt I, VI

EmployeesI 51,157

VolunteersI 6523

Fiscal year endsHeaderMay

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

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$4.4M	$619K
InvestmentsLn 11–13	$43.5M	$41.7M
Land, buildings, equipmentLn 10c	$47.8M	$52.2M
Total assetsLn 16	$128.4M	$125.5M
LiabilitiesLn 26	$72.1M	$66.1M
Net assetsLn 32	$56.2M	$59.4M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$27.3M	$27.3M
Pay of current officers, directors and key staffLn 5	$1.3M	$345K	$585K	$341K
Other salaries and wagesLn 7	$17.5M	$16.2M	$424K	$833K
Pension plan contributionsLn 8	$865K	$797K	$24K	$44K
Other employee benefitsLn 9	$2.5M	$2.2M	$177K	$109K
Payroll taxesLn 10	$1.2M	$1.1M	$63K	$70K
Legal feesLn 11b	$62K		$62K
Accounting feesLn 11c	$103K		$103K
Investment management feesLn 11f	$130K		$130K
Other fees for servicesLn 11g	$786K	$698K	$72K	$15K
Advertising and promotionLn 12	$281K	$278K		$3K
Office expensesLn 13	$1.8M	$1.6M	$41K	$167K
Information technologyLn 14	$1.1M	$952K	$38K	$73K
OccupancyLn 16	$1.5M	$1.5M
TravelLn 17	$1.1M	$1.0M	$11K	$42K
Conferences, conventions and meetingsLn 19	$62K	$59K	$2K	$663
InterestLn 20	$1.6M	$1.6M
Depreciation, depletion and amortizationLn 22	$3.1M	$3.1M
InsuranceLn 23	$630K	$630K
Other expenses (24a–d)Ln 24	$2.9M	$2.7M	$122K	$15K
All other expensesLn 24e	$1.4M	$1.1M	$142K	$80K
Total functional expensesLn 25	$67.1M	$63.3M	$2.0M	$1.8M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$71.8M	$69.1M	$2.8M	$53.7M	990 PDF
FY2024	$63.3M	$67.5M	−$4.2M	$51.3M	990 PDF
FY2023	$67.4M	$65.9M	$1.5M	$52.6M	990 PDF
FY2022 Viewing	$75.4M	$67.1M	$8.3M	$59.4M	990 PDF
FY2021	$65.0M	$64.0M	$987K	$56.2M	990 PDF
FY2020	$64.0M	$64.5M	−$492K	$45.8M	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

See the full FY2022 990 (6 parts)

Part I · Summary $75,361,809 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $12,086,724$21,599,860

I-9 Program service revenuePrior year $50,550,117$50,173,684

I-10 Investment incomePrior year $2,312,242$3,412,374

I-11 Other revenuePrior year $49,068$175,891

I-12 Total revenuePrior year $64,998,151$75,361,809

I-13 Grants and similar amounts paidPrior year $27,034,574$27,262,224

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $22,629,570$23,334,941

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $14,347,434$16,506,377

I-18 Total expensesPrior year $64,011,578$67,103,542

I-19 Revenue less expensesPrior year $986,573$8,258,267

Part VI · Governance 24 of 25 board members independent, no flags

VI-1a Voting members of the governing body25

VI-1b Independent voting members24

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 $75,361,809 across 10 lines filed

Lines not itemized here account for $333,145 of total revenue; see the IRS return.

VIII-1e Government grants$7,925,478

VIII-1f All other contributions, gifts and grants$13,674,382

VIII-1g Noncash contributions (included above)$825,106

VIII-1h Total contributions, gifts and grants$21,599,860

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $49,865,960$49,865,960

VIII-3 Investment incomeExcluded from tax $1,644,415$1,644,415

VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,767,959$1,767,959

VIII-8 Net income from fundraising eventsExcluded from tax $110,910$110,910

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $39,560$39,560

VIII-12 Total revenueRelated to mission $50,173,684 · Unrelated business $39,560 · Excluded from tax $3,548,705$75,361,809

Part IX · Statement of functional expenses $67,103,542 across 21 lines filed

IX-2 Grants to domestic individualsPrograms $27,262,224$27,262,224

IX-5 Pay of current officers, directors and key staffPrograms $345,328 · Management $585,236 · Fundraising $341,065$1,271,629

IX-7 Other salaries and wagesPrograms $16,211,597 · Management $423,769 · Fundraising $833,050$17,468,416

IX-8 Pension plan contributionsPrograms $796,715 · Management $24,113 · Fundraising $44,356$865,184

IX-9 Other employee benefitsPrograms $2,194,955 · Management $176,602 · Fundraising $109,469$2,481,026

IX-10 Payroll taxesPrograms $1,115,177 · Management $63,302 · Fundraising $70,207$1,248,686

IX-11b Legal feesManagement $61,723$61,723

IX-11c Accounting feesManagement $103,107$103,107

IX-11f Investment management feesManagement $129,924$129,924

IX-11g Other fees for servicesPrograms $697,965 · Management $72,244 · Fundraising $15,298$785,507

IX-12 Advertising and promotionPrograms $278,116 · Fundraising $2,848$280,964

IX-13 Office expensesPrograms $1,635,258 · Management $41,296 · Fundraising $167,014$1,843,568

IX-14 Information technologyPrograms $952,317 · Management $38,389 · Fundraising $72,562$1,063,268

IX-16 OccupancyPrograms $1,493,216$1,493,216

IX-17 TravelPrograms $1,037,239 · Management $11,031 · Fundraising $42,268$1,090,538

IX-19 Conferences, conventions and meetingsPrograms $59,130 · Management $2,146 · Fundraising $663$61,939

IX-20 InterestPrograms $1,645,930$1,645,930

IX-22 Depreciation, depletion and amortizationPrograms $3,059,306$3,059,306

IX-23 InsurancePrograms $629,695$629,695

IX-24 Other expenses (24a–d)Programs $2,749,622 · Management $121,519 · Fundraising $14,800$2,885,941

IX-24e All other expensesPrograms $1,149,196 · Management $142,234 · Fundraising $80,321$1,371,751

IX-25 Total functional expensesPrograms $63,312,986 · Management $1,996,635 · Fundraising $1,793,921$67,103,542

Part X · Balance sheet $125,505,314 assets, 21 lines filed

X-1 Cash, non-interest-bearingStart of year $5,863$5,832

X-2 Savings and temporary cash investmentsStart of year $4,405,369$613,643

X-3 Pledges and grants receivableStart of year $26,228,426$25,054,181

X-4 Accounts receivableStart of year $319,124$432,827

X-8 Inventories for sale or useStart of year $22,704$48,404

X-9 Prepaid expenses and deferred chargesStart of year $777,049$774,199

X-10c Land, buildings and equipment, netStart of year $47,843,452$52,225,924

X-11 Publicly traded securitiesStart of year $36,514,290$32,149,622

X-12 Other securitiesStart of year $2,148,095$5,167,910

X-13 Program-related investmentsStart of year $4,885,034$4,423,724

X-15 Other assetsStart of year $5,211,217$4,609,048

X-16 Total assetsStart of year $128,360,623$125,505,314

X-17 Accounts payable and accrued expensesStart of year $4,346,928$5,450,074

X-19 Deferred revenueStart of year $2,712,091$3,002,518

X-20 Tax-exempt bond liabilitiesStart of year $43,565,765$43,353,628

X-25 Other liabilitiesStart of year $12,867,200$5,841,916

X-26 Total liabilitiesStart of year $72,138,095$66,085,871

X-27 Net assets without donor restrictionsStart of year −$32,029,327−$29,821,868

X-28 Net assets with donor restrictionsStart of year $88,251,855$89,241,311

X-32 Total net assets or fund balancesStart of year $56,222,528$59,419,443

X-33 Total liabilities and net assetsStart of year $128,360,623$125,505,314

Part XI · Reconciliation of net assets $59,419,443 net assets at year end

XI-1 Total revenue$75,361,809

XI-2 Total expenses$67,103,542

XI-3 Revenue less expenses$8,258,267

XI-4 Net assets at start of year$56,222,528

XI-5 Net unrealized gains (losses) on investments−$6,486,513

XI-9 Other changes in net assets$1,425,161

XI-10 Net assets at end of year$59,419,443

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Loras College FY2022 filing

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