Lyon College offers a liberal arts education of superior quality in a personalized setting. A selective, independent, undergraduate, residential teaching and learning community affiliated with the presbyterian church (USA). Lyon encourages the free intellectual inquiry essential to social, ethical and spiritual growth. With a rich scholarly and religious heritage, Lyon develops, in a culture of honor, responsible citizens and leaders committed to continued personal growth and service.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$864K 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

FY2021 · 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
1 of 6
filings with a surplus
Average deficit $2.3M a year · 5% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$864K
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
2 mo
of spending, in cash
Plus $90.0M in investments, Pt X · Ln 11–13
Fine: 2.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $288K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$41.7M
31% of total assets
Looks good: liabilities are 31% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$34.3M
-60% vs prior year
Spent
$38.1M
To programs
84%
Net assets
$92.6M
By yearFY2020–FY2025
Revenue
$34.3M
FY2021▼ -60%
Tap a bar for its year
Revenue by fiscal year
FY2020$86.1M
FY2021$34.3M
FY2022$34.0M
FY2023$26.4M
FY2024$34.3M
FY2025$52.5M
Expenses
$38.1M
FY2021▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2020$38.7M
FY2021$38.1M
FY2022$37.6M
FY2023$41.9M
FY2024$62.2M
FY2025$62.6M
Net assets
$92.6M
FY2021▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$86.0M
FY2021$92.6M
FY2022$72.4M
FY2023$58.6M
FY2024$24.9M
FY2025$14.7M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Apr 1946.

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

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $32.0M Management & general 12% · $4.7M Fundraising 4% · $1.4M

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

20 people listed on the 990; $864K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President
$227,916Pt VII · Sec A
$140,143Pt VII · Sec A
Vice President for Finance
$139,931Pt VII · Sec A
Asst. Vice President for Business & Finance
$120,986Pt VII · Sec A
Executive Vice President & Chief of Staff
$118,231Pt VII · Sec A
Vice President for Advance
$116,406Pt VII · Sec A
Alumni Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A

Burke Soffe’s $431K as Dean of Dental Medicine School is at the 83rd 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
Burke Soffe$431,321$227,450————
Eleanor Green$409,538—————
William King———$350,277$227,916$222,194
Melissa Taverner$339,073$238,948$228,297$148,320$140,143$135,806
Marshall Butler$207,000—————
Joseph D Botana II—$140,521$155,136$144,838$120,986—
Anthony K Grafton$154,084$127,127$127,127$102,358——
Ashley Mounts$146,893—————

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 a personalized, high-quality liberal arts education fostering intellectual inquiry and responsible citizenship.

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Provided by the organization

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3 programs · $32.0M · in their own filed words · FY2020
01

Instruction & Other Academic Programs and Academic Support

Undergraduate and non-credit classes are provided.

$14.1Mprogram expense
02

Student Aid and Student Loans

Scholarships, work study programs, and loans are made available to enable students to continue their educations.

$13.9Mprogram expense
03

Student Services & Auxilary Enterprises

Housing, food services, and bookstore activities are provided as a service to those on campus to enhance campus life.

$4.0Mprogram 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 7 funders →
Grants paid · 9 grants · $71.7M · 2019–2024
Unitemized GrantFY2024$13,483,199
Unitemized GrantFY2023$11,778,948
Unitemized GrantFY2022$9,341,633
Unitemized GrantFY2021$10,458,959
Unitemized GrantFY2021$319,023
Unitemized GrantFY2020$12,881,620
Unitemized GrantFY2020$1,033,731
Unitemized GrantFY2019$12,119,506
Unitemized GrantFY2019$290,735

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$34.3M
Ln 12
Fees for servicesLn 2g$20.4M
Investment incomeLn 3$8.2M
Gifts and grantsLn 1h$5.6M
Money outPt IX
$38.1M
Ln 25
Programscol B$32.0M
Managementcol C$4.7M
Fundraisingcol D$1.4M
Owns and owesPt X
$92.6M
net assets · Ln 32
Cash and savingsLn 1–2$6.9M
Total assetsLn 16$134.4M
LiabilitiesLn 26$41.7M
PeoplePt VI, VII
20
listed · VII A
PaidVII A6
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5.6M
Government grantsLn 1e$3.6M
Noncash giftsLn 1g$207K
Fees for servicesLn 2g$20.4M
Investment incomeLn 3$8.2M
Other incomeLn 4–11$152K
Gains on assetsLn 7$6.7M
Total revenueLn 12$34.3M
Assets in detailPt X, end of year
CashLn 1$3.4M
SavingsLn 2$3.5M
Cash and savings togetherLn 1–2$6.9M
InvestmentsLn 11–13$90.0M
Land, buildings, equipmentLn 10c$33.9M
Other assetsLn 15$14K
Total assetsLn 16$134.4M
LiabilitiesLn 26$41.7M
Net assetsLn 32$92.6M
OperationsPt I, VI
EmployeesI 5580
VolunteersI 675
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$5.4M$6.9M
InvestmentsLn 11–13$80.0M$90.0M
Land, buildings, equipmentLn 10c$35.1M$33.9M
Total assetsLn 16$123.6M$134.4M
LiabilitiesLn 26$37.6M$41.7M
Net assetsLn 32$86.0M$92.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$13.9M$13.9M
Pay of current officers, directors and key staffLn 5$392K$157K$137K$98K
Other salaries and wagesLn 7$8.8M$6.9M$847K$991K
Other employee benefitsLn 9$1.8M$1.4M$307K$91K
Legal feesLn 11b$87K$87K
Accounting feesLn 11c$110K$110K
Investment management feesLn 11f$432K$432K
Other fees for servicesLn 11g$584K$189K$395K
Advertising and promotionLn 12$457K$375K$10K$72K
Office expensesLn 13$870K$504K$254K$112K
OccupancyLn 16$552K$535K$16K$406
TravelLn 17$460K$411K$22K$27K
InterestLn 20$1.3M$1.0M$310K
Depreciation, depletion and amortizationLn 22$1.9M$1.8M$161K
InsuranceLn 23$266K$259K$7K
Other expenses (24a–d)Ln 24$6.2M$4.6M$1.6M$21K
Total functional expensesLn 25$38.1M$32.0M$4.7M$1.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $52.5M$62.6M−$10.1M$14.7M 990 PDF
FY2024 $34.3M$62.2M−$27.8M$24.9M 990 PDF
FY2023 $26.4M$41.9M−$15.6M$58.6M 990 PDF
FY2022 $34.0M$37.6M−$3.6M$72.4M 990 PDF
FY2021 Viewing $34.3M$38.1M−$3.9M$92.6M 990 PDF
FY2020 $86.1M$38.7M$47.4M$86.0M 990 PDF

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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 FY2021 990 (6 parts)
Part I · Summary $34,275,899 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $58,004,342$5,575,256
I-9 Program service revenuePrior year $21,967,900$20,389,687
I-10 Investment incomePrior year $5,928,723$8,158,621
I-11 Other revenuePrior year $184,326$152,335
I-12 Total revenuePrior year $86,085,291$34,275,899
I-13 Grants and similar amounts paidPrior year $12,410,241$13,915,351
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $12,274,555$10,946,245
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $14,010,171$13,270,099
I-18 Total expensesPrior year $38,694,967$38,131,695
I-19 Revenue less expensesPrior year $47,390,324−$3,855,796
Part VI · Governance 14 of 14 board members independent, 2 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
VI-13 Written whistleblower policyNo
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-15a Process for setting top official's payYes
Part VIII · Statement of revenue $34,275,899 across 10 lines filed
Lines not itemized here account for $33,510 of total revenue; see the IRS return.
VIII-1e Government grants$3,566,586
VIII-1f All other contributions, gifts and grants$2,008,670
VIII-1g Noncash contributions (included above)$206,831
VIII-1h Total contributions, gifts and grants$5,575,256
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $20,389,687$20,389,687
VIII-3 Investment incomeExcluded from tax $1,415,696$1,415,696
VIII-6 Net rental income or lossExcluded from tax −$87,102−$87,102
VIII-7 Net gain or loss on sales of assetsExcluded from tax $6,742,925$6,742,925
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $205,927$205,927
VIII-12 Total revenueRelated to mission $20,595,614 · Unrelated business $0 · Excluded from tax $8,105,029$34,275,899
Part IX · Statement of functional expenses $38,131,695 across 16 lines filed
IX-2 Grants to domestic individualsPrograms $13,915,351$13,915,351
IX-5 Pay of current officers, directors and key staffPrograms $156,902 · Management $137,288 · Fundraising $98,063$392,253
IX-7 Other salaries and wagesPrograms $6,928,915 · Management $847,456 · Fundraising $990,785$8,767,156
IX-9 Other employee benefitsPrograms $1,389,039 · Management $306,967 · Fundraising $90,830$1,786,836
IX-11b Legal feesManagement $86,577$86,577
IX-11c Accounting feesManagement $110,400$110,400
IX-11f Investment management feesManagement $432,463$432,463
IX-11g Other fees for servicesPrograms $188,952 · Management $395,488$584,440
IX-12 Advertising and promotionPrograms $375,257 · Management $10,144 · Fundraising $72,012$457,413
IX-13 Office expensesPrograms $503,568 · Management $254,317 · Fundraising $111,761$869,646
IX-16 OccupancyPrograms $535,404 · Management $16,393 · Fundraising $406$552,203
IX-17 TravelPrograms $410,910 · Management $22,348 · Fundraising $27,194$460,452
IX-20 InterestPrograms $1,029,311 · Management $309,625$1,338,936
IX-22 Depreciation, depletion and amortizationPrograms $1,778,669 · Management $161,469$1,940,138
IX-23 InsurancePrograms $259,221 · Management $6,938$266,159
IX-24 Other expenses (24a–d)Programs $4,553,912 · Management $1,596,324 · Fundraising $21,036$6,171,272
IX-25 Total functional expensesPrograms $32,025,411 · Management $4,694,197 · Fundraising $1,412,087$38,131,695
Part X · Balance sheet $134,360,694 assets, 20 lines filed
Asset lines not itemized here account for $374,753; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $4,019,794$3,380,715
X-2 Savings and temporary cash investmentsStart of year $1,357,975$3,536,269
X-3 Pledges and grants receivableStart of year $720,089$1,535,844
X-4 Accounts receivableStart of year $1,089,441$761,679
X-8 Inventories for sale or useStart of year $149,940$115,085
X-9 Prepaid expenses and deferred chargesStart of year $776,288$720,104
X-10c Land, buildings and equipment, netStart of year $35,090,771$33,878,395
X-11 Publicly traded securitiesStart of year $72,059,271$82,157,536
X-12 Other securitiesStart of year $7,918,364$7,886,237
X-15 Other assetsStart of year $18,632$14,077
X-16 Total assetsStart of year $123,601,138$134,360,694
X-17 Accounts payable and accrued expensesStart of year $2,156,046$2,242,143
X-20 Tax-exempt bond liabilitiesStart of year $16,594,253$9,139,082
X-24 Unsecured notes and loans payableStart of year $2,386,220$4,386,220
X-25 Other liabilitiesStart of year $2,471,393$2,303,404
X-26 Total liabilitiesStart of year $37,610,844$41,722,160
X-27 Net assets without donor restrictionsStart of year $20,646,222$22,223,302
X-28 Net assets with donor restrictionsStart of year $65,344,072$70,415,232
X-32 Total net assets or fund balancesStart of year $85,990,294$92,638,534
X-33 Total liabilities and net assetsStart of year $123,601,138$134,360,694
Part XI · Reconciliation of net assets $92,638,534 net assets at year end
XI-1 Total revenue$34,275,899
XI-2 Total expenses$38,131,695
XI-3 Revenue less expenses−$3,855,796
XI-4 Net assets at start of year$85,990,294
XI-5 Net unrealized gains (losses) on investments$10,470,614
XI-9 Other changes in net assets$33,422
XI-10 Net assets at end of year$92,638,534

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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