Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 1950.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
90 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Who runs it and what they're paid
42 people listed on the 990; $3.2M paid to officers and key staff.
Earl Martin’s $655K as President is at the 57th percentile of top reported officer pay among 674 $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
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Earl Martin | $655,175 | $552,126 | $493,003 | $450,630 | $735,002 | $430,884 |
| Darian Devries | $369,080 | $670,358 | $631,257 | $627,437 | $423,305 | $465,775 |
| Benjamin McCollum | $489,243 | — | — | — | — | — |
| Jennie Baranczyk | — | — | — | — | $394,841 | $417,399 |
| Allan Vestal | — | $284,037 | $270,284 | $279,176 | $258,061 | $270,050 |
| Allison Pohlman | $281,364 | — | $224,970 | — | — | — |
| Brian Hardin | $256,175 | $258,994 | $247,146 | $244,412 | $210,416 | $238,584 |
| Jerry Anderson | $246,906 | $257,211 | $253,856 | $244,262 | $230,413 | $252,130 |
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
Provides an exceptional higher education environment integrating liberal arts and sciences with professional preparation to prepare students for meaningful lives and global citizenship.
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Drake university is a national coeducational, independent and private university with approximately 5,000 students enrolled for the 2024 - 2025 academic year. Drake is accredited by the higher learning commission of the north central association of schools and colleges.
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Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $23.6M | $16.9M |
| InvestmentsLn 11–13 | $292.1M | $325.6M |
| Land, buildings, equipmentLn 10c | $233.4M | $229.1M |
| Total assetsLn 16 | $607.5M | $628.3M |
| LiabilitiesLn 26 | $86.0M | $78.9M |
| Net assetsLn 32 | $521.5M | $549.4M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $85.7M | $85.7M | ||
| Pay of current officers, directors and key staffLn 5 | $1.7M | $308K | $1.1M | $291K |
| Other salaries and wagesLn 7 | $73.2M | $64.0M | $7.7M | $1.5M |
| Pension plan contributionsLn 8 | $4.1M | $3.5M | $491K | $90K |
| Other employee benefitsLn 9 | $12.5M | $10.9M | $1.4M | $240K |
| Payroll taxesLn 10 | $5.3M | $4.1M | $1.1M | $110K |
| Legal feesLn 11b | $727K | $112K | $615K | |
| Accounting feesLn 11c | $191K | $191K | ||
| Investment management feesLn 11f | $989K | $989K | ||
| Other fees for servicesLn 11g | $3.9M | $3.9M | ||
| Advertising and promotionLn 12 | $756K | $427K | $273K | $57K |
| Office expensesLn 13 | $1.0M | $687K | $204K | $113K |
| Information technologyLn 14 | $281K | $202K | $70K | $9K |
| OccupancyLn 16 | $4.3M | $3.9M | $374K | |
| TravelLn 17 | $5.1M | $4.9M | $125K | $112K |
| Conferences, conventions and meetingsLn 19 | $79K | $3K | $77K | |
| InterestLn 20 | $1.2M | $1.2M | $26K | |
| Depreciation, depletion and amortizationLn 22 | $11.3M | $10.6M | $698K | |
| InsuranceLn 23 | $2.0M | $394K | $1.6M | $296 |
| Other expenses (24a–d)Ln 24 | $26.6M | $21.7M | $4.2M | $711K |
| All other expensesLn 24e | $5.4M | $5.1M | $46K | $224K |
| Total functional expensesLn 25 | $246.3M | $221.5M | $21.2M | $3.5M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $256.3M | $246.3M | $10.0M | $549.4M | 990 PDF |
| FY2024 | $263.1M | $250.5M | $12.6M | $521.5M | 990 PDF |
| FY2023 | $259.1M | $246.3M | $12.8M | $477.6M | 990 PDF |
| FY2022 | $253.0M | $238.0M | $15.0M | $443.9M | 990 PDF |
| FY2021 | $245.4M | $218.0M | $27.4M | $464.1M | 990 PDF |
| FY2020 | $222.3M | $221.0M | $1.2M | $390.9M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (4 parts)
Part VIII · Statement of revenue $256,277,389 across 13 lines filed
Part IX · Statement of functional expenses $246,295,918 across 21 lines filed
Part X · Balance sheet $628,340,806 assets, 21 lines filed
Part XI · Reconciliation of net assets $549,404,684 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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