Coe College FY2024 filing

Tax-deductible

Cedar Rapids, IA501(c)(3)Since 1881Colleges & UniversitiesEIN 42-0686467

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501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$1.6M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $2.7M a year · 3% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.6M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
10
named funders · $804K
Looks good: 10 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$37.3M
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
35
of 36 voting members
Looks good: 35 of 36 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$81.1M
+1% vs prior year
Spent
$88.8M
To programs
92%
Net assets
$137.4M
By yearFY2020–FY2024
Revenue
$81.1M
FY2024▲ +1%
Revenue by fiscal year
FY2020$82.9M
FY2021$86.1M
FY2022$91.2M
FY2023$80.0M
FY2024$81.1M
FY2024$87.6M
Expenses
$88.8M
FY2024▲ +2%
Expenses by fiscal year
FY2020$83.8M
FY2021$85.3M
FY2022$89.7M
FY2023$87.2M
FY2024$88.8M
FY2024$85.9M
Net assets
$137.4M
FY2024▼ -0.9%
Net assets by fiscal year
FY2020$135.1M
FY2021$154.4M
FY2022$141.3M
FY2023$138.6M
FY2024$137.4M
FY2024$142.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2013.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $81.6M Management & general 7% · $6.6M Fundraising 1% · $623K

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

52 people listed on the 990; $1.6M 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
President
$349,275Pt VII · Sec A
VP for Enrollment, Mktg, & Inst.
$185,418Pt VII · Sec A
VP of Advancement (through 06/2024)
$168,374Pt VII · Sec A
Provost & Dean of Faculty
$158,500Pt VII · Sec A
Professor of Physics and Asst.
$148,102Pt VII · Sec A
Professor of Physics
$134,109Pt VII · Sec A
Assistant VP for Enrollment
$132,301Pt VII · Sec A
Former Professor of Chemistry
$108,046Pt VII · Sec A

David Hayes’s $293K as President is at the 63rd 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
David McInally——$683,767$283,572$353,545$347,685
David Hayes$292,725$349,275$354,663$296,633$164,287$163,069
Michael White———$181,444$144,986$269,868
Julie Staker$197,471$185,418$170,279$167,895$166,712$155,468
Paula O'Loughlin———$173,310$162,741$157,389
Angela Ziskowski$171,134$158,500$119,426———
Chantel Olufson Lepa—$168,374————
Larry Lee———$155,586$145,306$126,178

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 Coe 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

Provides a private, four-year co-educational liberal arts education while maintaining a modern, 60-acre campus designed to support student learning and academic success.

Provided by the organization

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3 programs · $81.6M · in their own filed words · FY2023
01

Educational

Coe college is a selective, private and nationally recognized four-year coeducational liberal arts institution, providing superior educational experiences for students since 1851. To each of its more than 1,200 students, the institution offers the advantages of a small college that is dedicated to academic excellence.

$60.6Mprogram expense
02

Program Services

This includes expenditures for the operation and maintenance of college facilities. With 38 buildings on more than 60 acres, maintenance of college facilities is an important consideration for the college.

$13.6Mprogram expense
03

Auxiliary Enterprises

This includes the college's residence halls, college rental housing, food services, the student union and summer conferences. With more than 1,000 students in campus housing, residential life is central to the coe experience for students.

$7.4Mprogram 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 · FY2024
See all 10 funders →
Grants paid · 36 grants · $265.2M · 2019–2024
Unitemized GrantFY2024$42,265,823
Unitemized GrantFY2024$1,730,384
Unitemized GrantFY2024$1,517,191
Unitemized GrantFY2024$89,741
Unitemized GrantFY2024$32,932
Unitemized GrantFY2024$2,293
Unitemized GrantFY2023$42,967,635
Unitemized GrantFY2023$1,704,552
Unitemized GrantFY2023$1,628,064
Unitemized GrantFY2023$93,307
Unitemized GrantFY2023$32,239
Unitemized GrantFY2023$3,584
Unitemized GrantFY2022$39,777,624
Unitemized GrantFY2022$1,668,522
Unitemized GrantFY2022$1,618,479
Unitemized GrantFY2022$147,500
Unitemized GrantFY2022$34,982
Unitemized GrantFY2022$3,535
See all 36 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$81.1M
Ln 12
Fees for servicesLn 2g$74.6M
Gifts and grantsLn 1h$5.9M
Investment incomeLn 3$593K
Money outPt IX
$88.8M
Ln 25
Programscol B$81.6M
Managementcol C$6.6M
Fundraisingcol D$623K
Owns and owesPt X
$137.4M
net assets · Ln 32
Cash and savingsLn 1–2$6.1M
Total assetsLn 16$174.7M
LiabilitiesLn 26$37.3M
PeoplePt VI, VII
52
listed · VII A
PaidVII A11
Voting boardVI 1a36
IndependentVI 1b35
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.9M
Government grantsLn 1e$1.4M
Noncash giftsLn 1g$358K
Fundraising eventsLn 1c$20K
Fees for servicesLn 2g$74.6M
Investment incomeLn 3$593K
Other incomeLn 4–11$7K
Gains on assetsLn 7−$903K
Total revenueLn 12$81.1M
Assets in detailPt X, end of year
SavingsLn 2$6.1M
Cash and savings togetherLn 1–2$6.1M
InvestmentsLn 11–13$65.4M
Land, buildings, equipmentLn 10c$69.3M
Other assetsLn 15$28.7M
Total assetsLn 16$174.7M
LiabilitiesLn 26$37.3M
Net assetsLn 32$137.4M
OperationsPt I, VI
EmployeesI 51,199
VolunteersI 6533
Fiscal year endsHeaderJune
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
LineStart FY24End FY24
Cash and savingsLn 1–2$4.1M$6.1M
InvestmentsLn 11–13$68.3M$65.4M
Land, buildings, equipmentLn 10c$69.2M$69.3M
Total assetsLn 16$176.7M$174.7M
LiabilitiesLn 26$38.1M$37.3M
Net assetsLn 32$138.6M$137.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$46.4M$46.4M
Pay of current officers, directors and key staffLn 5$980K$980K
Other salaries and wagesLn 7$16.6M$14.3M$1.9M$445K
Pension plan contributionsLn 8$566K$428K$131K$7K
Other employee benefitsLn 9$2.1M$1.6M$459K$32K
Payroll taxesLn 10$1.4M$983K$343K$32K
Legal feesLn 11b$62K$62K
Accounting feesLn 11c$127K$127K
Investment management feesLn 11f$152K$152K
Other fees for servicesLn 11g$473K$107K$365K$1K
Advertising and promotionLn 12$345K$220K$124K$491
Office expensesLn 13$1.8M$928K$803K$55K
OccupancyLn 16$2.4M$2.4M
TravelLn 17$671K$560K$68K$43K
InterestLn 20$765K$734K$31K
Depreciation, depletion and amortizationLn 22$3.1M$3.1M$94K
InsuranceLn 23$242K$220K$22K
Other expenses (24a–d)Ln 24$10.1M$9.6M$501K$7K
All other expensesLn 24e$483K−$27K$510K
Total functional expensesLn 25$88.8M$81.6M$6.6M$623K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $81.1M$88.8M−$7.7M$137.4M 990 PDF
FY2023 $80.0M$87.2M−$7.1M$138.6M 990 PDF
FY2022 $91.2M$89.7M$1.5M$141.3M 990 PDF
FY2021 $86.1M$85.3M$849K$154.4M 990 PDF
FY2020 $82.9M$83.8M−$927K$135.1M 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 (4 parts)
Part VIII · Statement of revenue $81,137,344 across 11 lines filed
VIII-1c Fundraising events$19,680
VIII-1d Related organizations$409,694
VIII-1e Government grants$1,435,134
VIII-1f All other contributions, gifts and grants$4,067,594
VIII-1g Noncash contributions (included above)$357,747
VIII-1h Total contributions, gifts and grants$5,932,102
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $74,604,762$74,604,762
VIII-3 Investment incomeExcluded from tax $1,496,081$1,496,081
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$902,918−$902,918
VIII-8 Net income from fundraising eventsExcluded from tax $7,317$7,317
VIII-12 Total revenueRelated to mission $74,604,762 · Unrelated business $0 · Excluded from tax $600,480$81,137,344
Part IX · Statement of functional expenses $88,843,089 across 19 lines filed
IX-2 Grants to domestic individualsPrograms $46,429,381$46,429,381
IX-5 Pay of current officers, directors and key staffManagement $980,399$980,399
IX-7 Other salaries and wagesPrograms $14,307,949 · Management $1,850,354 · Fundraising $444,800$16,603,103
IX-8 Pension plan contributionsPrograms $427,795 · Management $131,141 · Fundraising $6,826$565,762
IX-9 Other employee benefitsPrograms $1,633,359 · Management $458,546 · Fundraising $32,164$2,124,069
IX-10 Payroll taxesPrograms $983,365 · Management $342,750 · Fundraising $32,413$1,358,528
IX-11b Legal feesManagement $61,551$61,551
IX-11c Accounting feesManagement $127,110$127,110
IX-11f Investment management feesManagement $152,169$152,169
IX-11g Other fees for servicesPrograms $107,407 · Management $364,614 · Fundraising $1,271$473,292
IX-12 Advertising and promotionPrograms $219,878 · Management $124,489 · Fundraising $491$344,858
IX-13 Office expensesPrograms $927,812 · Management $802,736 · Fundraising $54,821$1,785,369
IX-16 OccupancyPrograms $2,443,430$2,443,430
IX-17 TravelPrograms $560,319 · Management $67,869 · Fundraising $43,088$671,276
IX-20 InterestPrograms $734,281 · Management $30,765$765,046
IX-22 Depreciation, depletion and amortizationPrograms $3,056,008 · Management $93,607$3,149,615
IX-23 InsurancePrograms $219,581 · Management $22,188$241,769
IX-24 Other expenses (24a–d)Programs $9,575,106 · Management $501,229 · Fundraising $6,957$10,083,292
IX-24e All other expensesPrograms −$26,876 · Management $509,946$483,070
IX-25 Total functional expensesPrograms $81,598,795 · Management $6,621,463 · Fundraising $622,831$88,843,089
Part X · Balance sheet $174,724,219 assets, 19 lines filed
X-2 Savings and temporary cash investmentsStart of year $4,114,973$6,143,721
X-3 Pledges and grants receivableStart of year $1,900,676$2,071,706
X-4 Accounts receivableStart of year $1,282,115$2,193,749
X-9 Prepaid expenses and deferred chargesStart of year $968,339$950,540
X-10c Land, buildings and equipment, netStart of year $69,217,045$69,276,732
X-11 Publicly traded securitiesStart of year $58,899,242$57,144,147
X-12 Other securitiesStart of year $5,930,705$5,627,638
X-13 Program-related investmentsStart of year $3,509,705$2,632,444
X-15 Other assetsStart of year $30,916,269$28,683,542
X-16 Total assetsStart of year $176,739,069$174,724,219
X-17 Accounts payable and accrued expensesStart of year $3,243,250$2,685,201
X-19 Deferred revenueStart of year $182,873$281,023
X-20 Tax-exempt bond liabilitiesStart of year $26,530,122$25,355,077
X-25 Other liabilitiesStart of year $8,147,693$9,009,742
X-26 Total liabilitiesStart of year $38,103,938$37,331,043
X-27 Net assets without donor restrictionsStart of year $43,128,149$48,036,980
X-28 Net assets with donor restrictionsStart of year $95,506,982$89,356,196
X-32 Total net assets or fund balancesStart of year $138,635,131$137,393,176
X-33 Total liabilities and net assetsStart of year $176,739,069$174,724,219
Part XI · Reconciliation of net assets $137,393,176 net assets at year end
XI-1 Total revenue$81,137,344
XI-2 Total expenses$88,843,089
XI-3 Revenue less expenses−$7,705,745
XI-4 Net assets at start of year$138,635,131
XI-5 Net unrealized gains (losses) on investments$6,680,936
XI-9 Other changes in net assets−$217,146
XI-10 Net assets at end of year$137,393,176

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

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