Lyon College EIN 71-0246213 Form 990 (PDF) Claim this org

Lyon College FY2022 filing

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Provides a personalized, high-quality liberal arts education fostering intellectual inquiry and responsible citizenship. For fiscal year 2022 it reported $34.0M in revenue, $37.6M in expenses, and $72.4M in net assets.Pt I

Founded
1872
Type
Higher education institution · Colleges & Universities
Location
Batesville, AR
Website
www.lyon.edu
Filings
5 on file (2020–2022)
Revenue
$34.0MFY2022
Expenses
$37.6M
Net assets
$72.4M
People
21
Filings
5
Updates
0
More identity details & actions ⌄
EIN  71-0246213 Higher education institution Batesville, AR Founded 1872
Form 990 (PDF)
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →
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Figures match the IRS filing checked 8/7/26 · see original: IRS
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Size
$10–100M
What they do
Provides a personalized, high-quality liberal arts education fostering intellectual inquiry and responsible citizenship.
Leadership
William King · President Through 08/27/21 · $350K
Money in and out
$34.0M revenue, $37.6M expenses
Bottom line
-11% operating surplus
Financial scale & money flow · FY2022
Total revenue
$34.0M
Pt VIII · Ln 12
Total expenses
$37.6M
Pt IX · Ln 25
Net assets
$72.4M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$3.6M
Where spending went · Part IX cols B–D
Program services $0.82 Management & general $0.13 Fundraising $0.04
Operating surplus
-11%
revenue over expenses, this legal entity
Payroll share
31%
of this entity's spending is salaries & benefits
Program spending
82%
of expenses reach program services

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$34.0M
FY2022▼ -0.9%
Expenses
$37.6M
FY2022▼ -1%
Total assets
$114.5M
FY2022▼ -15%
Total liabilities
$42.1M
FY2022▲ +0.9%
Total revenue
$34.0M
Pt VIII · Ln 12
Total expenses
$37.6M
Pt IX · Ln 25
Net assets
$72.4M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$3.6M
Total assetsPt X · Ln 16$114.5M
Program-expense ratioPt IX · col B82%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CLyon College
EINHdr · item D71-0246213
Principal addressHdr · item CBatesville, AR
WebsiteHdr · item Jwww.lyon.edu
Year of formationHdr · item L1872
State of legal domicileHdr · item MAR
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B420)
Ruling yearIRS BMFApr 1946

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President Through 08/27/21
$350,277Pt VII · Sec A
Interim Pres 9/1/21, President 2/18/22-Present
$148,320Pt VII · Sec A
Vice President for Business
$144,838Pt VII · Sec A
Executive Vice President &
$116,898Pt VII · Sec A
Vice President for Advance
$115,636Pt VII · Sec A
Vice President for Student Life
$104,507Pt VII · Sec A
$102,358Pt 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 3682 $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
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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Mission & Programs · Part III

Where the work happens

3 program services account for $30.9M of program spending, described in the organization's own filed words · FY2021.
01

Instruction & Other Academic Programs and Academic Support

Undergraduate and non-credit classes are provided.

$15.5Mprogram expense
02

Student Aid and Student Loans

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

$10.8Mprogram 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.

$4.7Mprogram expense

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Statement of Revenue

Part VIII
Program service revenue$20.4M · 60%
Contributions & grants$8.1M · 24%
Investment income$5.3M · 16%
Other revenue$173K · 1%
Program service revenue60%$20.4M
Contributions & grants24%$8.1M
Investment income16%$5.3M
Other revenue1%$173K
— government grantsLn 1e$6.3M
Total revenueLn 12$34.0M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.82 Management & general $0.13 Fundraising $0.04
Program services82%$30.9M
Management & general13%$5.0M
Fundraising4%$1.7M
Total functional expensesLn 25$37.6M

Balance Sheet

Part X · end of year
CashLn 1$18.9M
Total assetsLn 16$114.5M
Total liabilitiesLn 26$42.1M
Total net assetsLn 32$72.4M
Months of cash on handcomputed6.0

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $77.7M · Operating expenses (Pt IX) $37.6M · Less non-cash grants $137K · Cash operating expenses/yr $37.4M
24.9 months
Where the money goes
Program services
Program services $30.9M · Total expenses $37.6M
82%
Management & General
Management & general $5.0M · Total expenses $37.6M
13%
Fundraising
Fundraising $1.7M · Total expenses $37.6M
4%
Cost to raise $1
Fundraising expense (3-yr avg) $1.6M · Solicited contributions (3-yr avg) $20.2M
$0.08 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $8.1M · Total revenue $34.0M
24%
Government reliance
Government grants $6.3M · Total revenue $34.0M
18%
Earned-income share
Program service revenue $20.4M · Total revenue $34.0M
60%
Investment reliance
Investment income $5.3M · Total revenue $34.0M
+16%
Program self-sufficiency
Program service revenue $20.4M · Total expenses $37.6M
54%
Growth & trend
Revenue growth (YoY)
This year $34.0M · Prior year $34.3M
-0.9%
Net-asset trend (YoY)
End of year $72.4M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $34.0M · Expenses $37.6M
-11%
Liabilities-to-Assets
Total liabilities — · Total assets $114.5M
Net-asset ratio
Net assets $72.4M · Total assets $114.5M
63%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $52.3M · Other securities (Pt X, ln 12) $6.4M · Total assets (Pt X, ln 16) $114.5M
51%
People & payroll
Highest Reported Total Compensation
Individual William King · Reported title PRESIDENT THROUGH 08/27/21 · Highest reported compensation $350K · Total expenses $37.6M
0.9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $11.5M · Total expenses $37.6M
31%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 82%
Overhead ratio 13%
Fundraising cost ratio 21%
Revenue growth -0.9%
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.

Grants

Schedule I · received and paid
Grants received · FY2024
See all 6 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

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$34.3M revenue · ⤓ 990 PDF
FY2023$26.4M revenue · ⤓ 990 PDF
FY2022$34.0M revenue · viewing · ⤓ 990 PDF
FY2021$34.3M revenue · ⤓ 990 PDF
FY2020$86.1M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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