Lagrange College FY2024 filing

Lagrange, GA · Higher education institution · Since 1831 · Colleges & Universities

✓ Tax-deductible Latest data FY2024
Revenue
$42.1M
▼ -7% vs prior year
Spent
$38.9M
To programs
83%
Net assets
$120.5M
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →

Form 990 for the fiscal year ending June 2024 (IRS tax year 2023).

Figures match the IRS filing checked 8/6/26 · see original: IRS

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
4 funders, incl. Wm I H & Lula E Pitts Foundation
$1.1M in the latest grant year.
Spent on programs?
83% to programs
Form 990 Part IX, latest filing.
Size and trend
$10–100M
↓ -7% vs prior year
Legal name (IRS)Hdr · item CLagrange College
EINHdr · item D58-0566199
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFApr 1942
Year of formationHdr · item L1831
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CLagrange, GA
NTEE classificationIRS BMFColleges & Universities (B420)
WebsiteHdr · item Jwww.lagrange.edu

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.83 Management & general $0.16 Fundraising $0.02
Program services83%$32.1M
Management & general16%$6.2M
Fundraising2%$586K
Total functional expensesLn 25$38.9M

Financial health

Revenue & expenses by yearFY2020–FY2024
Revenue
$42.1M
FY2024▼ -7%
Expenses
$38.9M
FY2024▼ -23%
Operating surplus
+8%
revenue over expenses, this legal entity
Payroll share
30%
of this entity's spending is salaries & benefits
Program spending
83%
of expenses reach program services

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$160.3M
FY2024▲ +3%
Total liabilities
$39.8M
FY2024▲ +0.8%
Revenue less expensesPt I · Ln 19$3.2M
Total assetsPt X · Ln 16$160.3M
Program-expense ratioPt IX · col B83%
Voting members of governing bodyPt I · Ln 336
Independent voting membersPt I · Ln 435

Balance Sheet

Part X · end of year
CashLn 1$4.5M
Total assetsLn 16$160.3M
Total liabilitiesLn 26$39.8M
Total net assetsLn 32$120.5M
Months of cash on handcomputed1.4

Statement of Revenue

Part VIII
Program service revenue$27.2M · 65%
Contributions & grants$7.0M · 17%
Investment income$5.9M · 14%
Other revenue$2.0M · 5%
Program service revenue65%$27.2M
Contributions & grants17%$7.0M
Investment income14%$5.9M
Other revenue5%$2.0M
— government grantsLn 1e$76K
Total revenueLn 12$42.1M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $69.8M · Operating expenses (Pt IX) $38.9M · Less non-cash grants $1.2M · Cash operating expenses/yr $37.7M
22.2 months
Where the money goes
Program services
Program services $32.1M · Total expenses $38.9M
83%
Management & General
Management & general $6.2M · Total expenses $38.9M
16%
Fundraising
Fundraising $586K · Total expenses $38.9M
2%
Cost to raise $1
Fundraising expense (3-yr avg) $573K · Solicited contributions (3-yr avg) $8.3M
$0.07 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $7.0M · Total revenue $42.1M
17%
Government reliance
Government grants $76K · Total revenue $42.1M
0.2%
Earned-income share
Program service revenue $27.2M · Total revenue $42.1M
65%
Investment reliance
Investment income $5.9M · Total revenue $42.1M
+14%
Program self-sufficiency
Program service revenue $27.2M · Total expenses $38.9M
70%
Growth & trend
Revenue growth (YoY)
This year $42.1M · Prior year $45.2M
-7%
Revenue CAGR
FY2019 $46.3M · FY2023 $42.1M
-2%
Net-asset trend (YoY)
End of year $120.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $42.1M · Expenses $38.9M
+8%
Liabilities-to-Assets
Total liabilities — · Total assets $160.3M
—
Net-asset ratio
Net assets $120.5M · Total assets $160.3M
75%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $65.2M · Other securities (Pt X, ln 12) $3K · Total assets (Pt X, ln 16) $160.3M
41%
People & payroll
Highest Reported Total Compensation
Individual Susanna Baxter · Reported title PRESIDENT · Highest reported compensation $303K · Total expenses $38.9M
0.8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $11.5M · Total expenses $38.9M
30%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 83%——
Overhead ratio 16%——
Fundraising cost ratio 8%——
Revenue growth -7%——
Investment management fee ratio 0.1%——
Legal fee ratio 0.09%——
Accounting fee ratio 0.3%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$303,415Pt VII · Sec A
VP - Finance and Operations
$161,334Pt VII · Sec A
VP - Academic Affairs
$155,500Pt VII · Sec A
VP - Enrollment Management
$140,500Pt VII · Sec A
VP - Advancement
$131,000Pt VII · Sec A
Associate Vpaa, Professor - Nursing
$113,343Pt VII · Sec A
SR. Associate Vpaa, Professor-Mathematics
$106,768Pt VII · Sec A
$0Pt VII · Sec A

Susanna Baxter’s $274K as President is at the 59th 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
Susanna Baxter$274,215$303,415$275,000$272,250$131,627—
Dan McAlexander————$240,048$280,701
Jerry Forster$157,876$161,334$62,036———
Deborah Hall——$143,413$157,289$148,062$142,768
Brian Peterson$148,880$155,500————
Karen Aubrey———$154,760$152,971$154,400
John Head$138,824$140,500$140,000———
Brian Carlisle———$115,044$135,174$137,600

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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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a36
Independent voting membersPt VI · Ln 1b35
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Educates students to become successful, responsible citizens with integrity and moral courage.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $32.1M of program spending, described in the organization's own filed words · FY2023.
01

Lagrange college offers an associate of science degree with 1 major program, a bachelor of arts degree with 17 major programs, a bachelor of science degree with 5 major programs, a bachelor of business administration, a bachelor of music, and a bachelor of science in nursing degree.

$32.1Mprogram expense

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Funders

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 4 funders →
Grants paid · 9 grants · $89.8M · 2019–2024
Unitemized GrantFY2024$13,297,430
Unitemized GrantFY2023$12,021,706
Unitemized GrantFY2022$11,856,605
Lagrange College PropertyGA · FY2022$11,415,416
Unitemized GrantFY2021$10,695,232
Unitemized GrantFY2021$1,446,749
Unitemized GrantFY2020$13,237,525
Unitemized GrantFY2020$578,376
Unitemized GrantFY2019$15,202,183

Filing history

YearRevenueExpensesChangeFiling
FY2024 Viewing $42.1M$38.9M-7% 990 PDF
FY2023 $45.2M$50.6M+4% 990 PDF
FY2022 $43.5M$37.5M+0.3% 990 PDF
FY2021 $43.4M$39.7M-6% 990 PDF
FY2020 $46.3M$46.0M 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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