Loras College: FY2024 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

95 cents of each dollar spent went to programs.

95%

Program services 95% · $63.9M Management & general 3% · $2.0M Fundraising 2% · $1.6M

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

35 people listed on the 990; $1.5M 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

James E Collins

President

$380,783Pt VII · Sec A

Craig Schaefer

Director of Tv Studio

$266,819Pt VII · Sec A

Margaret Tungseth

Treasurer

$169,656Pt VII · Sec A

Donna Heald

VP for Academic Affairs

$164,568Pt VII · Sec A

Arthur Sunleaf

VP for Student Development

$126,051Pt VII · Sec A

Scott McClure

VP for Institutional Adv

$121,100Pt VII · Sec A

Tom Kruse

Chief Information & Budget Officer

$113,454Pt VII · Sec A

Rennie Root

Associate VP of Finance

$108,486Pt 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.

See Loras College executive salaries →

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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.

Provided by the organization

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3 programs · $51.8M · in their own filed words · FY2023

01

Scholarships and grants to students.

$25.5Mprogram expense

02

Instruction and academic support provided to full and part time students (1,177 full time equivalent students).

$14.7Mprogram expense

03

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

$11.5Mprogram 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 FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$63.3M

Ln 12

Fees for servicesLn 2g$51.8M

Gifts and grantsLn 1h$10.0M

Investment incomeLn 3$1.3M

Money outPt IX

$67.5M

Ln 25

Programscol B$63.9M

Managementcol C$2.0M

Fundraisingcol D$1.6M

Owns and owesPt X

$51.3M

net assets · Ln 32

Cash and savingsLn 1–2$1.2M

Total assetsLn 16$112.3M

LiabilitiesLn 26$61.0M

PeoplePt VI, VII

35

listed · VII A

PaidVII A10

Voting boardVI 1a24

IndependentVI 1b23

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$10.0M

Government grantsLn 1e$576K

Noncash giftsLn 1g$401K

Fees for servicesLn 2g$51.8M

Investment incomeLn 3$1.3M

Other incomeLn 4–11$210K

Gains on assetsLn 7$201K

Total revenueLn 12$63.3M

Assets in detailPt X, end of year

CashLn 1$7K

SavingsLn 2$1.2M

Cash and savings togetherLn 1–2$1.2M

InvestmentsLn 11–13$30.2M

Land, buildings, equipmentLn 10c$50.8M

Other assetsLn 15$4.5M

Total assetsLn 16$112.3M

LiabilitiesLn 26$61.0M

Net assetsLn 32$51.3M

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 FY24	End FY24
Cash and savingsLn 1–2	$2.9M	$1.2M
InvestmentsLn 11–13	$32.6M	$30.2M
Land, buildings, equipmentLn 10c	$51.3M	$50.8M
Total assetsLn 16	$114.8M	$112.3M
LiabilitiesLn 26	$62.1M	$61.0M
Net assetsLn 32	$52.6M	$51.3M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$25.5M	$25.5M
Pay of current officers, directors and key staffLn 5	$1.2M	$283K	$544K	$325K
Other salaries and wagesLn 7	$17.2M	$16.0M	$451K	$736K
Pension plan contributionsLn 8	$845K	$779K	$25K	$41K
Other employee benefitsLn 9	$2.4M	$2.3M	$109K	$58K
Payroll taxesLn 10	$1.2M	$1.1M	$54K	$68K
Legal feesLn 11b	$67K		$67K
Accounting feesLn 11c	$158K		$158K
Investment management feesLn 11f	$123K		$123K
Other fees for servicesLn 11g	$985K	$880K	$73K	$31K
Advertising and promotionLn 12	$198K	$161K		$37K
Office expensesLn 13	$2.1M	$1.9M	$36K	$149K
Information technologyLn 14	$893K	$781K	$51K	$60K
OccupancyLn 16	$1.4M	$1.4M
TravelLn 17	$1.3M	$1.3M	$11K	$32K
Conferences, conventions and meetingsLn 19	$58K	$49K	$7K	$2K
InterestLn 20	$3.0M	$3.0M
Depreciation, depletion and amortizationLn 22	$3.9M	$3.9M
InsuranceLn 23	$561K	$561K
Other expenses (24a–d)Ln 24	$3.1M	$3.0M	$122K	$12K
All other expensesLn 24e	$1.3M	$1.1M	$157K	$37K
Total functional expensesLn 25	$67.5M	$63.9M	$2.0M	$1.6M

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 Viewing	$63.3M	$67.5M	−$4.2M	$51.3M	990 PDF
FY2023	$67.4M	$65.9M	$1.5M	$52.6M	990 PDF
FY2022	$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 FY2024 990 (6 parts)

Part I · Summary $63,316,204 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $14,849,956$9,972,388

I-9 Program service revenuePrior year $51,084,217$51,849,059

I-10 Investment incomePrior year $1,337,149$1,284,646

I-11 Other revenuePrior year $136,438$210,111

I-12 Total revenuePrior year $67,407,760$63,316,204

I-13 Grants and similar amounts paidPrior year $25,185,373$25,507,704

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

I-15 Salaries and benefitsPrior year $23,045,187$22,860,644

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

I-17 Other expensesPrior year $17,706,296$19,143,094

I-18 Total expensesPrior year $65,936,856$67,511,442

I-19 Revenue less expensesPrior year $1,470,904−$4,195,238

Part VI · Governance 23 of 24 board members independent, no flags

VI-1a Voting members of the governing body24

VI-1b Independent voting members23

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 $63,316,204 across 10 lines filed

Lines not itemized here account for $990,341 of total revenue; see the IRS return.

VIII-1e Government grants$576,078

VIII-1f All other contributions, gifts and grants$9,396,310

VIII-1g Noncash contributions (included above)$400,918

VIII-1h Total contributions, gifts and grants$9,972,388

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $50,984,027$50,984,027

VIII-3 Investment incomeExcluded from tax $1,083,801$1,083,801

VIII-7 Net gain or loss on sales of assetsExcluded from tax $200,845$200,845

VIII-8 Net income from fundraising eventsExcluded from tax $36,382$36,382

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $48,420$48,420

VIII-12 Total revenueRelated to mission $51,849,059 · Unrelated business $48,420 · Excluded from tax $1,446,337$63,316,204

Part IX · Statement of functional expenses $67,511,442 across 21 lines filed

IX-2 Grants to domestic individualsPrograms $25,507,704$25,507,704

IX-5 Pay of current officers, directors and key staffPrograms $283,483 · Management $543,610 · Fundraising $324,915$1,152,008

IX-7 Other salaries and wagesPrograms $15,991,837 · Management $451,227 · Fundraising $736,278$17,179,342

IX-8 Pension plan contributionsPrograms $779,110 · Management $25,484 · Fundraising $40,736$845,330

IX-9 Other employee benefitsPrograms $2,273,129 · Management $108,935 · Fundraising $58,082$2,440,146

IX-10 Payroll taxesPrograms $1,121,887 · Management $53,917 · Fundraising $68,014$1,243,818

IX-11b Legal feesManagement $66,894$66,894

IX-11c Accounting feesManagement $158,066$158,066

IX-11f Investment management feesManagement $123,111$123,111

IX-11g Other fees for servicesPrograms $880,218 · Management $73,055 · Fundraising $31,293$984,566

IX-12 Advertising and promotionPrograms $160,596 · Fundraising $37,150$197,746

IX-13 Office expensesPrograms $1,945,665 · Management $36,233 · Fundraising $149,469$2,131,367

IX-14 Information technologyPrograms $781,240 · Management $50,914 · Fundraising $60,442$892,596

IX-16 OccupancyPrograms $1,421,190$1,421,190

IX-17 TravelPrograms $1,264,731 · Management $10,881 · Fundraising $31,836$1,307,448

IX-19 Conferences, conventions and meetingsPrograms $48,782 · Management $7,151 · Fundraising $2,144$58,077

IX-20 InterestPrograms $2,957,212$2,957,212

IX-22 Depreciation, depletion and amortizationPrograms $3,875,835$3,875,835

IX-23 InsurancePrograms $561,320$561,320

IX-24 Other expenses (24a–d)Programs $2,975,969 · Management $121,954 · Fundraising $11,871$3,109,794

IX-24e All other expensesPrograms $1,103,863 · Management $156,959 · Fundraising $37,050$1,297,872

IX-25 Total functional expensesPrograms $63,933,771 · Management $1,988,391 · Fundraising $1,589,280$67,511,442

Part X · Balance sheet $112,267,399 assets, 21 lines filed

X-1 Cash, non-interest-bearingStart of year $6,795$7,494

X-2 Savings and temporary cash investmentsStart of year $2,915,166$1,217,461

X-3 Pledges and grants receivableStart of year $22,567,429$23,813,177

X-4 Accounts receivableStart of year $359,351$653,690

X-8 Inventories for sale or useStart of year $29,289$174,200

X-9 Prepaid expenses and deferred chargesStart of year $760,303$919,704

X-10c Land, buildings and equipment, netStart of year $51,327,890$50,833,064

X-11 Publicly traded securitiesStart of year $24,664,604$22,233,833

X-12 Other securitiesStart of year $3,691,197$3,705,742

X-13 Program-related investmentsStart of year $4,276,982$4,229,636

X-15 Other assetsStart of year $4,163,596$4,479,398

X-16 Total assetsStart of year $114,762,602$112,267,399

X-17 Accounts payable and accrued expensesStart of year $4,787,413$4,698,666

X-19 Deferred revenueStart of year $3,631,754$3,735,133

X-20 Tax-exempt bond liabilitiesStart of year $41,932,651$41,709,584

X-25 Other liabilitiesStart of year $3,804,020$2,228,617

X-26 Total liabilitiesStart of year $62,121,710$60,970,305

X-27 Net assets without donor restrictionsStart of year −$27,910,893−$34,611,749

X-28 Net assets with donor restrictionsStart of year $80,551,785$85,908,843

X-32 Total net assets or fund balancesStart of year $52,640,892$51,297,094

X-33 Total liabilities and net assetsStart of year $114,762,602$112,267,399

Part XI · Reconciliation of net assets $51,297,094 net assets at year end

XI-1 Total revenue$63,316,204

XI-2 Total expenses$67,511,442

XI-3 Revenue less expenses−$4,195,238

XI-4 Net assets at start of year$52,640,892

XI-5 Net unrealized gains (losses) on investments$2,698,495

XI-9 Other changes in net assets$152,945

XI-10 Net assets at end of year$51,297,094

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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Loras College FY2024 filing

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