Westminster College FY2024 filing

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IT shall be the mission of Westminster College to educate and inspire all its students through a distinctive liberal arts curriculum and a dynamic developmental experience; to challenge them to be critically aware, life-long learners and leaders of character, committed to the values of integrity, fairness, respect, and responsibility; and to prepare them for lives of success, significance and service.

501(c)(3) charity; gifts are tax-deductible.
81¢ of each $1 spent went to programs.
$1.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $3.4M a year · 8% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
81%
of spending
Looks good: 81% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.5M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $63.5M in investments, Pt X · Ln 11–13
Fine: 0.2 months of spending in cash, plus $63.5M in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$20.5M
16% of total assets
Looks good: liabilities are 16% of assets; 50% or less.
Pt X · Ln 26
Independent board members
27
of 27 voting members
Looks good: 27 of 27 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$30.2M
-44% vs prior year
Spent
$42.6M
To programs
81%
Net assets
$107.2M
By yearFY2020–FY2025
Revenue
$30.2M
FY2024▼ -44%
Tap a bar for its year
Revenue by fiscal year
FY2020$30.3M
FY2021$40.6M
FY2022$61.5M
FY2023$53.9M
FY2024$30.2M
FY2025$39.3M
Expenses
$42.6M
FY2024▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$32.3M
FY2021$35.8M
FY2022$40.0M
FY2023$39.4M
FY2024$42.6M
FY2025$45.3M
Net assets
$107.2M
FY2024▼ -5%
Tap a bar for its year
Net assets by fiscal year
FY2020$75.4M
FY2021$82.5M
FY2022$92.1M
FY2023$113.1M
FY2024$107.2M
FY2025$111.2M

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

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jan 1943.

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

Where the money goes

81 cents of each dollar spent went to programs.

Program services 81% · $34.7M Management & general 17% · $7.4M Fundraising 1% · $499K

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

34 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
President of the College
$461,215Pt VII · Sec A
$236,362Pt VII · Sec A
VP of Enrollment Managemen
$194,395Pt VII · Sec A
VP of Acadenic Affairs
$194,111Pt VII · Sec A
VP and Dean of Student Lif
$147,703Pt VII · Sec A
VP for Institutional Adava
$126,098Pt VII · Sec A
Assistant Dean of Online P
$114,538Pt VII · Sec A
$0Pt VII · Sec A

Donald P Lofe JR’s $479K as President of the College is at the 87th 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
Donald P Lofe JR$479,123$461,215$594,623$407,589$229,277—
Fletcher Lampkin—————$291,060
David Roebuck———$279,286$186,349$185,000
Steven Tyrell$243,679$236,362$251,516$236,231——
Paul Orscheln$209,030$194,395$185,760$165,255$183,558—
Ingrid Ilinca$205,930$194,111$118,741———
Linda Webster$160,178$126,098————
Kasi Lacey—$147,703$154,714$126,224$103,707—

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 Westminster College executive salaries →

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 in a four-year liberal arts program.

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3 programs · $30.0M · in their own filed words · FY2023
01

Scholarships and Other Financial Aid

Financial aid provided to students on basis of academic achievement, financial need and other similar standards. Number benefited - 593

$12.8Mprogram expense
02

Instructional

Academic departments for classroom instruction. Number benefited - served 592 students fall 2023 and 548 students spring 2024

$9.4Mprogram expense
03

Student Services

Expenses relating to dean of student life, admissions, guidance, placement, chaplin, financial aid, and intercollegiate athletics. Number benefited - served 592 students fall 2023 and 548 students spring 2024

$7.9Mprogram 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
Total grants receivedfrom 1 funder$6K
Grants paid · 9 grants · $74.5M · 2019–2024
Unitemized GrantFY2024$14,344,119
Unitemized GrantFY2023$12,807,956
Unitemized GrantFY2022$12,152,138
Unitemized GrantFY2021$12,097,122
Unitemized GrantFY2021$978,100
Unitemized GrantFY2020$10,973,123
Unitemized GrantFY2020$384,322
Unitemized GrantFY2019$10,421,982
Unitemized GrantFY2019$384,322

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $7.6M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.2M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.6M
Economic Adjustment AssistanceDepartment of Commerce · ALN 11.307 · Direct$1.5M
Post-9/11 Veterans Educational AssistanceDepartment of Veterans Affairs · ALN 64.027 · Through Missouri Department of Elementary and Secondary Education$85K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$70K

Plus 2 smaller programs.

The auditor reported 5 findings: a material weakness in money controls, questioned costs.

Year ending Jun 2024 · $5.5M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$3.9M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.2M
Post-9/11 Veterans Educational AssistanceDepartment of Veterans Affairs · ALN 64.027 · Through Missouri Department of Elementary and Secondary Education$94K
Violence Against Women Formula GrantsDepartment of Justice · ALN 16.588 · Direct$88K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$67K

Plus 2 smaller programs.

The auditor reported no findings.

Year ending Jun 2023 · $6.2M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.1M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.3M
Coronavirus State and Local Fiscal Recovery FundsDepartment of the Treasury · ALN 21.027 · Through Missouri Department of Higher Education and Workforce Development$446K
Post-9/11 Veterans Educational AssistanceDepartment of Veterans Affairs · ALN 64.027 · Through Missouri Department of Elementary and Secondary Education$134K
Violence Against Women Formula GrantsDepartment of Justice · ALN 16.588 · Direct$90K

Plus 2 smaller programs.

The auditor reported 1 finding: a weakness in money controls.

Year ending Jun 2022 · $8.1M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.6M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$2.0M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.3M
Post-9/11 Veterans Educational AssistanceDepartment of Veterans Affairs · ALN 64.027 · Through Missouri Department of Elementary and Secondary Education$152K
Violence Against Women Formula GrantsDepartment of Justice · ALN 16.588 · Direct$98K

Plus 2 smaller programs.

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$30.2M
Ln 12
Fees for servicesLn 2g$23.0M
Gifts and grantsLn 1h$5.5M
Other incomeLn 4–11$927K
Money outPt IX
$42.6M
Ln 25
Programscol B$34.7M
Managementcol C$7.4M
Fundraisingcol D$499K
Owns and owesPt X
$107.2M
net assets · Ln 32
Cash and savingsLn 1–2$733K
Total assetsLn 16$127.8M
LiabilitiesLn 26$20.5M
PeoplePt VI, VII
34
listed · VII A
PaidVII A7
Voting boardVI 1a27
IndependentVI 1b27
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.5M
Government grantsLn 1e$649K
Noncash giftsLn 1g$68K
Fees for servicesLn 2g$23.0M
Investment incomeLn 3$735K
Other incomeLn 4–11$927K
Gains on assetsLn 7−$880K
Total revenueLn 12$30.2M
Assets in detailPt X, end of year
CashLn 1$733K
Cash and savings togetherLn 1–2$733K
InvestmentsLn 11–13$63.5M
Land, buildings, equipmentLn 10c$36.8M
Other assetsLn 15$25.4M
Total assetsLn 16$127.8M
LiabilitiesLn 26$20.5M
Net assetsLn 32$107.2M
OperationsPt I, VI
EmployeesI 5565
VolunteersI 628
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$12.5M
Bond issues listedSch K Pt I3
Raised by those issuesSch K Pt I$13.0M
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$68K
EndowmentSch D · Pt V
LineFY24FY23FY22FY21FY20
End of yearLn 1g$80.7M$59.3M$51.6M$59.4M$51.9M
Given inLn 1b$21.8M$674K$4.4M$960K$5.1M
SpentLn 1d–1f$8.5M$2.2M$5.4M$4.3M$5.5M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.2M$733K
InvestmentsLn 11–13$47.0M$63.5M
Land, buildings, equipmentLn 10c$38.0M$36.8M
Total assetsLn 16$134.9M$127.8M
LiabilitiesLn 26$21.7M$20.5M
Net assetsLn 32$113.1M$107.2M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$12.8M$12.8M
Pay of current officers, directors and key staffLn 5$777K$777K
Other salaries and wagesLn 7$12.2M$9.7M$2.3M$176K
Other employee benefitsLn 9$2.0M$1.5M$394K$25K
Legal feesLn 11b$70K$70K
Accounting feesLn 11c$127K$127K
Investment management feesLn 11f$95K$95K
Other fees for servicesLn 11g$3.3M$2.6M$512K$184K
Advertising and promotionLn 12$159K$137K$22K
Office expensesLn 13$704K$440K$252K$12K
Information technologyLn 14$1.6M$277K$1.2M$53K
OccupancyLn 16$2.1M$1.9M$178K
TravelLn 17$789K$675K$72K$43K
Conferences, conventions and meetingsLn 19$145K$87K$54K$4K
InterestLn 20$840K$833K$8K
Depreciation, depletion and amortizationLn 22$2.5M$2.2M$347K
InsuranceLn 23$1.1M$335K$738K
Other expenses (24a–d)Ln 24$1.4M$1.2M$199K$2K
Total functional expensesLn 25$42.6M$34.7M$7.4M$499K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS May 14, 2026 $39.3M$45.3M−$5.9M$111.2M 990 PDF
FY2024 ViewingFiled with the IRS May 14, 2025 $30.2M$42.6M−$12.4M$107.2M 990 PDF
FY2023Filed with the IRS May 14, 2024 $53.9M$39.4M$14.5M$113.1M 990 PDF
FY2022Filed with the IRS May 15, 2023 $61.5M$40.0M$21.5M$92.1M 990 PDF
FY2021Filed with the IRS May 16, 2022 $40.6M$35.8M$4.8M$82.5M 990 PDF
FY2020Filed with the IRS May 17, 2021 $30.3M$32.3M−$2.1M$75.4M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $30,196,923 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $27,999,345$5,501,563
I-9 Program service revenuePrior year $22,665,734$23,033,053
I-10 Investment incomePrior year $1,813,554$735,108
I-11 Other revenuePrior year $1,402,933$927,199
I-12 Total revenuePrior year $53,881,566$30,196,923
I-13 Grants and similar amounts paidPrior year $12,152,138$12,807,956
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $13,335,224$14,922,213
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $13,942,384$14,851,713
I-18 Total expensesPrior year $39,429,746$42,581,882
I-19 Revenue less expensesPrior year $14,451,820−$12,384,959
Part VI · Governance 27 of 27 board members independent, no flags
VI-1a Voting members of the governing body27
VI-1b Independent voting members27
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 $30,196,923 across 11 lines filed
Lines not itemized here account for −$1,826 of total revenue; see the IRS return.
VIII-1e Government grants$649,249
VIII-1f All other contributions, gifts and grants$4,852,314
VIII-1g Noncash contributions (included above)$68,055
VIII-1h Total contributions, gifts and grants$5,501,563
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $23,033,053$23,033,053
VIII-3 Investment incomeExcluded from tax $1,614,680$1,614,680
VIII-5 RoyaltiesExcluded from tax $395,998$395,998
VIII-6 Net rental income or lossExcluded from tax $8,125$8,125
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$879,572−$879,572
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $524,902$524,902
VIII-12 Total revenueRelated to mission $23,557,955 · Unrelated business $0 · Excluded from tax $1,137,405$30,196,923
Part IX · Statement of functional expenses $42,581,882 across 18 lines filed
IX-2 Grants to domestic individualsPrograms $12,807,956$12,807,956
IX-5 Pay of current officers, directors and key staffManagement $777,345$777,345
IX-7 Other salaries and wagesPrograms $9,681,583 · Management $2,336,269 · Fundraising $176,457$12,194,309
IX-9 Other employee benefitsPrograms $1,531,343 · Management $394,056 · Fundraising $25,160$1,950,559
IX-11b Legal feesManagement $69,873$69,873
IX-11c Accounting feesManagement $126,660$126,660
IX-11f Investment management feesManagement $95,442$95,442
IX-11g Other fees for servicesPrograms $2,616,688 · Management $511,539 · Fundraising $183,613$3,311,840
IX-12 Advertising and promotionPrograms $137,074 · Management $21,966$159,040
IX-13 Office expensesPrograms $440,265 · Management $251,756 · Fundraising $12,296$704,317
IX-14 Information technologyPrograms $277,186 · Management $1,226,907 · Fundraising $52,738$1,556,831
IX-16 OccupancyPrograms $1,873,309 · Management $177,587$2,050,896
IX-17 TravelPrograms $674,564 · Management $71,636 · Fundraising $43,057$789,257
IX-19 Conferences, conventions and meetingsPrograms $87,186 · Management $54,200 · Fundraising $4,050$145,436
IX-20 InterestPrograms $832,722 · Management $7,736$840,458
IX-22 Depreciation, depletion and amortizationPrograms $2,185,751 · Management $347,077$2,532,828
IX-23 InsurancePrograms $335,172 · Management $738,070$1,073,242
IX-24 Other expenses (24a–d)Programs $1,195,070 · Management $198,822 · Fundraising $1,701$1,395,593
IX-25 Total functional expensesPrograms $34,675,869 · Management $7,406,941 · Fundraising $499,072$42,581,882
Part X · Balance sheet $127,752,960 assets, 21 lines filed
X-1 Cash, non-interest-bearingStart of year $2,156,806$732,761
X-3 Pledges and grants receivableStart of year $207,971$353,724
X-4 Accounts receivableStart of year $418,975$563,095
X-8 Inventories for sale or useStart of year $36,734$30,087
X-9 Prepaid expenses and deferred chargesStart of year $345,035$395,004
X-10c Land, buildings and equipment, netStart of year $38,033,310$36,776,863
X-11 Publicly traded securitiesStart of year $44,443,272$41,716,457
X-12 Other securitiesStart of year $2,579,427$1,128,244
X-13 Program-related investmentsStart of year $0$20,650,000
X-15 Other assetsStart of year $46,631,003$25,406,725
X-16 Total assetsStart of year $134,852,533$127,752,960
X-17 Accounts payable and accrued expensesStart of year $4,192,444$3,458,018
X-19 Deferred revenueStart of year $298,239$310,596
X-20 Tax-exempt bond liabilitiesStart of year $12,679,905$12,480,440
X-24 Unsecured notes and loans payableStart of year $3,607,121$3,508,690
X-25 Other liabilitiesStart of year $925,410$783,138
X-26 Total liabilitiesStart of year $21,703,119$20,540,882
X-27 Net assets without donor restrictionsStart of year $46,057,423$44,185,935
X-28 Net assets with donor restrictionsStart of year $67,091,991$63,026,143
X-32 Total net assets or fund balancesStart of year $113,149,414$107,212,078
X-33 Total liabilities and net assetsStart of year $134,852,533$127,752,960
Part XI · Reconciliation of net assets $107,212,078 net assets at year end
XI-1 Total revenue$30,196,923
XI-2 Total expenses$42,581,882
XI-3 Revenue less expenses−$12,384,959
XI-4 Net assets at start of year$113,149,414
XI-5 Net unrealized gains (losses) on investments$6,496,518
XI-9 Other changes in net assets−$48,895
XI-10 Net assets at end of year$107,212,078

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

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