You’re viewing the FY2022 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 Jun 1942.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
74 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
40 people listed on the 990; $1.4M paid to officers and key staff.
Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President
$326,211Pt VII · Sec A
Provost and Dean of the College
$193,911Pt VII · Sec A
Executive Vice President and CFO
$180,906Pt VII · Sec A
VP of Enrollment
$150,216Pt VII · Sec A
VP for Technology Services and CIO
$143,291Pt VII · Sec A
Assoc Provost and Math/Computer Science Professor
$125,603Pt VII · Sec A
Avp for Enrollment and Director of Admission
$125,416Pt VII · Sec A
Avp of Business and Controller
$112,395Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
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Karen Petersen’s $378K as President is at the 77th 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
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Karen Petersen | $377,603 | $235,560 | — | — | — | — |
| William Tsutsui | — | — | — | — | — | $352,955 |
| Ellis Arnold | — | $338,652 | $332,832 | $326,211 | $317,517 | $261,846 |
| Terri Bonebright | $175,420 | $203,064 | — | — | — | — |
| Kesha Baoua | $200,000 | $117,881 | — | — | — | — |
| Terri L Bonebright | — | — | $199,434 | $193,911 | $185,479 | $193,203 |
| Thomas J Siebenmorgen | — | $190,668 | $186,149 | $180,906 | $174,783 | $177,360 |
| Courtney Corwin | — | — | — | — | — | $177,220 |
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 Hendrix 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
Develops whole people through liberal arts, fostering empathy, creativity, and active learning.
Questions for Hendrix College
Your first name shows with your question. Hendrix College answers here, for everyone.
3 programs · $65.3M · in their own filed words · FY2021
01
Student Aid (1050 Students)
$38.7Mprogram expense
02
Instruction (1050 Students)
$13.8Mprogram expense
03
Student Services (1050 Students)
$12.8Mprogram expense
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
Schedule I · funders on record
Grants received · FY2025
Windgate Charitable TrustFY2025$6.7M
The Furr Foundation INCFY2025$2K
Adcock Family FoundationFY2025$1K
Total grants receivedfrom 3 funders$6.7M
Federal money
Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending May 2025 · $8.0M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$5.3M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.9M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$329K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$148K
Biomedical Research and Research TrainingDepartment of Health and Human Services · ALN 93.859 · Through University of Arkansas for Medical Sciences$141K
Plus 4 smaller programs.
The auditor reported no findings.
Year ending May 2024 · $7.6M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$5.1M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.4M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$329K
Biological SciencesNational Science Foundation · ALN 47.074 · Direct$199K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$196K
Plus 4 smaller programs.
The auditor reported 4 findings: a weakness in money controls.
Year ending May 2023 · $7.8M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.9M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.3M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$582K
Biomedical Research and Research TrainingDepartment of Health and Human Services · ALN 93.859 · Through University of Arkansas for Medical Sciences$321K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$207K
Plus 7 smaller programs.
The auditor reported 1 finding: a weakness in money controls.
Year ending May 2022 · $9.5M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$4.8M
Higher Education Emergency Relief Fund (heerf) Student Aid PortionDepartment of Education · ALN 84.425 · Direct$1.7M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$1.3M
Federal Perkins Loan ProgramDepartment of Education · ALN 84.038 · Direct$696K
Biomedical Research and Research TrainingDepartment of Health and Human Services · ALN 93.859 · Through University of Arkansas for Medical Sciences$242K
Plus 8 smaller programs.
The auditor reported 5 findings: a weakness in money controls.
By the numbers
The FY2022 990, line by line.
Download 990
1The main four
Money inPt VIII
$98.4M
Ln 12
Fees for servicesLn 2g$63.3M
Gifts and grantsLn 1h$27.2M
Investment incomeLn 3$7.4M
Money outPt IX
$87.6M
Ln 25
Programscol B$65.3M
Managementcol C$21.2M
Fundraisingcol D$1.1M
Owns and owesPt X
$212.1M
net assets · Ln 32
Cash and savingsLn 1–2$4.7M
Total assetsLn 16$318.3M
LiabilitiesLn 26$106.2M
PeoplePt VI, VII
40
listed · VII A
PaidVII A8
Voting boardVI 1a33
IndependentVI 1b32
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$27.2M
Government grantsLn 1e$14.0M
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$63.3M
Investment incomeLn 3$7.4M
Other incomeLn 4–11$486K
Gains on assetsLn 7$4.2M
Total revenueLn 12$98.4M
Assets in detailPt X, end of year
SavingsLn 2$4.7M
Cash and savings togetherLn 1–2$4.7M
Pledges and grants receivableLn 3$5.0M
Accounts receivableLn 4$1.1M
Notes and loans receivableLn 7$423K
Land, buildings, equipmentLn 10c$124.6M
InvestmentsLn 11–13$178.9M
Other assetsLn 15$3.7M
Total assetsLn 16$318.3M
LiabilitiesLn 26$106.2M
Net assetsLn 32$212.1M
OperationsPt I, VI
EmployeesI 51,059
VolunteersI 632
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$55.7M
Bond issues listedSch K Pt I2
Raised by those issuesSch K Pt I$68.2M
Investment feesPt IX, Sch D
Investment fees, as reportedPt IX 11f$832K
Share of the $178.9M endowmentSch D 1g0.47%
Typical, median of 1,806 orgs0.44%
EndowmentSch D · Pt V
| Line | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|
| End of yearLn 1g | $178.9M | $193.1M | $146.7M | $163.7M | $173.9M |
| Given inLn 1b | $724K | $10.9M | $1.8M | $7.0M | $2.9M |
| SpentLn 1d–1f | $10.7M | $16.8M | $14.7M | $9.5M | $10.2M |
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $13.3M | $4.7M |
| InvestmentsLn 11–13 | $189.9M | $178.9M |
| Land, buildings, equipmentLn 10c | $122.3M | $124.6M |
| Total assetsLn 16 | $336.4M | $318.3M |
| LiabilitiesLn 26 | $116.2M | $106.2M |
| Net assetsLn 32 | $220.2M | $212.1M |
5Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | $0 | ||
| Grants to domestic individualsLn 2 | $38.7M | $38.7M | ||
| Grants and assistance to foreign recipientsLn 3 | $0 | $0 | ||
| Benefits paid to or for membersLn 4 | $0 | $0 | ||
| Pay of current officers, directors and key staffLn 5 | $1.8M | $0 | $1.8M | $0 |
| Pay of disqualified personsLn 6 | $0 | $0 | $0 | $0 |
| Other salaries and wagesLn 7 | $17.8M | $12.6M | $4.5M | $702K |
| Pension plan contributionsLn 8 | $662K | $514K | $114K | $34K |
| Other employee benefitsLn 9 | $3.1M | $1.7M | $1.2M | $117K |
| Payroll taxesLn 10 | $1.3M | $850K | $426K | $48K |
| Management feesLn 11a | $0 | $0 | $0 | $0 |
| Legal feesLn 11b | $9K | $0 | $9K | $0 |
| Accounting feesLn 11c | $103K | $0 | $103K | $0 |
| Lobbying feesLn 11d | $0 | $0 | $0 | $0 |
| Professional fundraising feesLn 11e | $0 | $0 | ||
| Investment management feesLn 11f | $832K | $0 | $832K | $0 |
| Other fees for servicesLn 11g | $0 | $0 | $0 | $0 |
| Advertising and promotionLn 12 | $47K | $18K | $30K | $0 |
| Office expensesLn 13 | $3.1M | $1.3M | $1.8M | $59K |
| Information technologyLn 14 | $594K | $0 | $594K | $0 |
| RoyaltiesLn 15 | $0 | $0 | $0 | $0 |
| OccupancyLn 16 | $2.7M | $2.5M | $215K | $0 |
| TravelLn 17 | $1.2M | $1.1M | $93K | $3K |
| Travel and entertainment for public officialsLn 18 | $0 | $0 | $0 | $0 |
| Conferences, conventions and meetingsLn 19 | $107K | $74K | $19K | $13K |
| InterestLn 20 | $3.1M | $0 | $3.1M | $0 |
| Payments to affiliatesLn 21 | $0 | $0 | $0 | $0 |
| Depreciation, depletion and amortizationLn 22 | $4.8M | $4.3M | $434K | $43K |
| InsuranceLn 23 | $524K | $0 | $524K | $0 |
| Other expenses (24a–d)Ln 24 | $2.7M | $0 | $2.7M | $0 |
| All other expensesLn 24e | $4.4M | $1.6M | $2.7M | $128K |
| Total functional expensesLn 25 | $87.6M | $65.3M | $21.2M | $1.1M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Apr 13, 2026 | $88.0M | $77.2M | $10.7M | $222.4M | 990 PDF |
| FY2024Filed with the IRS Apr 15, 2025 | $89.2M | $83.6M | $5.7M | $211.2M | 990 PDF |
| FY2023Filed with the IRS Apr 15, 2024 | $97.5M | $84.3M | $13.2M | $200.0M | 990 PDF |
| FY2022 ViewingFiled with the IRS Apr 14, 2023 | $98.4M | $87.6M | $10.8M | $212.1M | 990 PDF |
| FY2021Filed with the IRS Apr 15, 2022 | $89.0M | $87.5M | $1.5M | $220.2M | 990 PDF |
| FY2020Filed with the IRS Apr 15, 2021 | $79.4M | $84.3M | −$4.9M | $176.1M | 990 PDF |
Schedules filed Part IV
III · Programs
R · Related orgs
G · Fundraising
L · Interested persons
I · Grants
A · Public support
J · Pay
O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $98,419,951 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $21,560,226$27,180,473
I-9 Program service revenuePrior year $59,048,028$63,337,066
I-10 Investment incomePrior year $6,996,873$7,416,583
I-11 Other revenuePrior year $1,364,070$485,829
I-12 Total revenuePrior year $88,969,197$98,419,951
I-13 Grants and similar amounts paidPrior year $41,232,235$38,680,294
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $24,111,335$24,675,645
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $22,173,497$24,293,856
I-18 Total expensesPrior year $87,517,067$87,649,795
I-19 Revenue less expensesPrior year $1,452,130$10,770,156
Part VI · Governance 32 of 33 board members independent, 1 to look at
VI-1a Voting members of the governing body33
VI-1b Independent voting members32
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $98,419,951 across 15 lines filed
Lines not itemized here account for $332,807 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$13,951,917
VIII-1f All other contributions, gifts and grants$13,228,556
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$27,180,473
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $63,337,065 · Unrelated business $0 · Excluded from tax $0$63,337,065
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $3,260,337$3,260,337
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $153,023 · Excluded from tax $0$153,023
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $4,156,246$4,156,246
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $64,311,958 · Unrelated business $153,023 · Excluded from tax $6,774,497$98,419,951
Part IX · Statement of functional expenses $87,649,795 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $38,680,294$38,680,294
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $1,806,848 · Fundraising $0$1,806,848
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $12,644,181 · Management $4,457,553 · Fundraising $702,121$17,803,855
IX-8 Pension plan contributionsPrograms $513,673 · Management $114,037 · Fundraising $34,328$662,038
IX-9 Other employee benefitsPrograms $1,724,003 · Management $1,237,247 · Fundraising $117,409$3,078,659
IX-10 Payroll taxesPrograms $850,372 · Management $425,794 · Fundraising $48,079$1,324,245
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $8,534 · Fundraising $0$8,534
IX-11c Accounting feesPrograms $0 · Management $103,144 · Fundraising $0$103,144
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $832,027 · Fundraising $0$832,027
IX-11g Other fees for servicesPrograms $0 · Management $0 · Fundraising $0$0
IX-12 Advertising and promotionPrograms $17,748 · Management $29,737 · Fundraising $0$47,485
IX-13 Office expensesPrograms $1,297,088 · Management $1,758,605 · Fundraising $59,316$3,115,009
IX-14 Information technologyPrograms $0 · Management $594,386 · Fundraising $0$594,386
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $2,525,912 · Management $214,648 · Fundraising $0$2,740,560
IX-17 TravelPrograms $1,070,295 · Management $92,730 · Fundraising $3,284$1,166,309
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $74,436 · Management $19,400 · Fundraising $13,351$107,187
IX-20 InterestPrograms $0 · Management $3,127,934 · Fundraising $0$3,127,934
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $4,335,116 · Management $434,116 · Fundraising $42,893$4,812,125
IX-23 InsurancePrograms $0 · Management $524,363 · Fundraising $0$524,363
IX-24 Other expenses (24a–d)Programs $0 · Management $2,701,487 · Fundraising $0$2,701,487
IX-24e All other expensesPrograms $1,560,658 · Management $2,724,273 · Fundraising $128,375$4,413,306
IX-25 Total functional expensesPrograms $65,293,776 · Management $21,206,863 · Fundraising $1,149,156$87,649,795
Part X · Balance sheet $318,329,586 assets, 30 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $13,314,486$4,726,818
X-3 Pledges and grants receivableStart of year $5,933,237$4,951,453
X-4 Accounts receivableStart of year $759,259$1,067,861
X-5 Loans to officers and key peopleStart of year $0$0
X-6 Loans to other insidersStart of year $0$0
X-7 Notes and loans receivableStart of year $537,323$422,912
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $122,274,865$124,632,360
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $189,873,173$178,858,974
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $3,736,352$3,669,208
X-16 Total assetsStart of year $336,428,695$318,329,586
X-17 Accounts payable and accrued expensesStart of year $8,064,183$7,952,461
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $57,356,384$55,700,148
X-21 Escrow or custodial accountsStart of year $0$0
X-22 Loans from officers and insidersStart of year $0$0
X-23 Secured mortgages and notes payableStart of year $24,527,134$22,803,470
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $26,246,964$19,728,083
X-26 Total liabilitiesStart of year $116,194,665$106,184,162
X-27 Net assets without donor restrictionsStart of year $46,121,474$52,541,368
X-28 Net assets with donor restrictionsStart of year $174,112,556$159,604,056
X-32 Total net assets or fund balancesStart of year $220,234,030$212,145,424
X-33 Total liabilities and net assetsStart of year $336,428,695$318,329,586
Part XI · Reconciliation of net assets $212,145,424 net assets at year end
XI-1 Total revenue$98,419,951
XI-2 Total expenses$87,649,795
XI-3 Revenue less expenses$10,770,156
XI-4 Net assets at start of year$220,234,030
XI-5 Net unrealized gains (losses) on investments−$18,858,762
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$212,145,424
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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