Form 990 for tax year 2023

Filed by GUSTAVUS ADOLPHUS COLLEGE.

Totals

Total revenue: $145,945,868
Total expenses: $154,076,541
Contributions and grants received: $14,021,134
Grants paid: $61,584,658
Program service revenue: $124,230,117
Investment income: $7,612,733
Other revenue: $81,884
Total assets, end of year: $557,494,933
Total liabilities, end of year: $88,243,141
Net assets or fund balances, end of year: $469,251,792
Program services expenses (Part IX): $143,727,341
Management and general expenses: $6,765,198
Fundraising expenses: $3,584,002
Program service expenses (Part III): $143,727,341

Program services were 93.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$123,175
1d · Related organizations

$0
1e · Government grants (contributions)

$1,528,320
1f · All other contributions, gifts and grants

$12,369,639
1g · Noncash contributions included above

$3,169,982
2a · Program service revenue: Tuition and Fees

total $98,326,074 · related or exempt $98,326,074 · unrelated business $0 · excluded $0
2b · Program service revenue: Residence Halls

total $12,909,455 · related or exempt $12,705,636 · unrelated business $203,819 · excluded $0
2c · Program service revenue: Dining Service

total $7,638,144 · related or exempt $7,056,373 · unrelated business $581,771 · excluded $0
2d · Program service revenue: Book Mark

total $1,697,524 · related or exempt $1,697,524 · unrelated business $0 · excluded $0
2e · Program service revenue: Athletic Facilities

total $568,047 · related or exempt $542,094 · unrelated business $25,953 · excluded $0
2f · All other program service revenue

total $3,090,873 · related or exempt $2,900,587 · unrelated business $190,286 · excluded $0
3 · Investment income

total $2,606,294 · related or exempt $0 · unrelated business $1,216,559 · excluded $1,389,735
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $6,566 · related or exempt $0 · unrelated business $0 · excluded $6,566
6a · Gross rents

real property $0 · personal property $0
6b · Less rental expenses

real property $0 · personal property $0
6c · Rental income or loss

real property $0 · personal property $0
6d · Net rental income or loss

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
7a · Gross sales of assets other than inventory

securities $66,988,602 · other assets $210,000
7b · Less cost or other basis and sales expenses

securities $62,076,611 · other assets $115,552
7c · Gain or loss

securities $4,911,991 · other assets $94,448
7d · Net gain or loss

total $5,006,439 · related or exempt $0 · unrelated business $0 · excluded $5,006,439
8a · Fundraising events: gross income

$70,862
8a · Fundraising events: contributions included on line 1c

$123,175
8b · Fundraising events: direct expenses

$71,299
8c · Net income from fundraising events

total -$437 · unrelated business $0 · excluded -$437
9a · Gaming: gross income

$86,880
9b · Gaming: direct expenses

$11,125
9c · Net income from gaming

total $75,755 · related or exempt $0 · unrelated business $0 · excluded $75,755
11e · Other revenue, total

$0

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $40,000 · program services $40,000
2 · Grants to domestic individuals

total $61,544,658 · program services $61,544,658
5 · Compensation of officers, directors and key employees

total $854,997 · program services $240,511 · management and general $614,486
6 · Compensation of disqualified persons

total $16,679 · program services $16,679
7 · Other salaries and wages

total $39,445,618 · program services $35,684,070 · management and general $2,018,082 · fundraising $1,743,466
8 · Pension plan contributions

total $1,109,254 · program services $931,536 · management and general $114,066 · fundraising $63,652
9 · Other employee benefits

total $9,266,152 · program services $8,225,820 · management and general $605,361 · fundraising $434,971
10 · Payroll taxes

total $2,625,371 · program services $2,347,435 · management and general $147,028 · fundraising $130,908
11b · Fees: legal

total $205,453 · management and general $192,712 · fundraising $12,741
11c · Fees: accounting

total $108,328 · management and general $108,328
11d · Fees: lobbying

total $108,359 · management and general $108,359
11e · Fees: professional fundraising services

total $220,753 · fundraising $220,753
11f · Fees: investment management

total $702,709 · management and general $702,709
11g · Fees: other

total $1,898,346 · program services $1,579,059 · management and general $222,038 · fundraising $97,249
12 · Advertising and promotion

total $1,265,178 · program services $1,265,178
13 · Office expenses

total $790,320 · program services $369,976 · management and general $231,003 · fundraising $189,341
14 · Information technology

total $1,453,665 · program services $1,050,346 · management and general $400,387 · fundraising $2,932
16 · Occupancy

total $5,569,861 · program services $5,439,468 · management and general $107,756 · fundraising $22,637
17 · Travel

total $1,438,695 · program services $1,307,179 · management and general $49,293 · fundraising $82,223
19 · Conferences, conventions and meetings

total $129,627 · program services $114,045 · management and general $8,513 · fundraising $7,069
20 · Interest

total $2,367,616 · program services $2,364,090 · management and general $3,526
22 · Depreciation, depletion and amortization

total $9,749,828 · program services $9,521,580 · management and general $188,622 · fundraising $39,626
23 · Insurance

total $1,056,138 · program services $1,031,414 · management and general $20,432 · fundraising $4,292
24a · Other expenses: Dining Service Expenses

total $3,577,023 · program services $3,577,023 · management and general $0 · fundraising $0
24b · Other expenses: Academic Expenses

total $1,628,508 · program services $1,628,508 · management and general $0 · fundraising $0
24c · Other expenses: Book Mark Expenses

total $1,330,557 · program services $1,330,557 · management and general $0 · fundraising $0
24d · Other expenses: Study Abroad

total $1,077,443 · program services $1,077,443 · management and general $0 · fundraising $0
24e · All other expenses

total $4,495,405 · program services $3,040,766 · management and general $922,497 · fundraising $532,142

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $80,719 · end of year $53,721
2 · Savings and temporary cash investments

beginning of year $25,302,448 · end of year $28,647,795
3 · Pledges and grants receivable

beginning of year $18,192,363 · end of year $11,165,622
4 · Accounts receivable

beginning of year $758,648 · end of year $808,865
7 · Other notes and loans receivable

beginning of year $13,202 · end of year $11,216
8 · Inventories for sale or use

beginning of year $432,372 · end of year $530,424
9 · Prepaid expenses and deferred charges

beginning of year $1,979,160 · end of year $1,457,335
10a · Land, buildings and equipment: cost or other basis

$329,379,926
10b · Land, buildings and equipment: accumulated depreciation

$148,426,119
10c · Land, buildings and equipment, net

beginning of year $184,140,552 · end of year $180,953,807
11 · Investments: publicly traded securities

beginning of year $105,354,285 · end of year $117,067,605
12 · Investments: other securities

beginning of year $200,505,393 · end of year $216,098,739
13 · Investments: program-related

beginning of year $483,133 · end of year $256,112
15 · Other assets

beginning of year $3,520,714 · end of year $443,692
17 · Accounts payable and accrued expenses

beginning of year $14,991,686 · end of year $14,222,208
19 · Deferred revenue

beginning of year $2,277,375 · end of year $3,535,185
20 · Tax-exempt bond liabilities

beginning of year $61,792,037 · end of year $60,338,446
21 · Escrow or custodial account liability

beginning of year $2,481,386 · end of year $2,678,052
25 · Other liabilities

beginning of year $8,379,707 · end of year $7,469,250
27 · Net assets without donor restrictions

beginning of year $178,123,598 · end of year $177,336,561
28 · Net assets with donor restrictions

beginning of year $272,717,200 · end of year $291,915,231

Mission and programs · 2023

Mission

Gustavus Adolphus College is a church-related, residential liberal arts college firmly rooted in its Swedish and Lutheran heritage. The College offers students of high aspiration and promise a liberal arts education of recognized excellence provided by faculty who embody the highest standards of teaching and scholarship. The College aspires to be a community of persons from diverse backgrounds who respect and affirm the dignity of all people. It is a community where a mature understanding of the Christian faith and lives of service are nurtured and students are encouraged to work toward a just and peaceful world. The purpose of a Gustavus education is to help students attain their full potential as persons, to develop in them a capacity and passion for lifelong learning, and to prepare them for fulfilling lives of leadership and service in society.

Activities or mission (Part I)

Gustavus Adolphus College prepares its students for fulfilling lives of leadership and service and is committed to the core values of excellence, community, justice, service, and faith. It is especially known for strong science, writing, music, athletics, and study abroad programs. The College hosts a chapter of Phi Beta Kappa and is internationally recognized for its annual Nobel Conference sanctioned by The Nobel Foundation in Stockholm, Sweden. The students, faculty, administration, staff and Board of Directors believe in a strong, open community where all citizens play a vital role. Gustavus has consistently produced graduates who lead lives of uncommon purpose and passion, and demonstrate that they make their lives count.

Instruction and Academic Support: Gustavus offers 73 majors in 24 academic departments and 13 interdisciplinary programs, with a student-faculty ratio of 11:1. Total FTE enrollment for academic year 2023-2024 was 1,905, with 473 students graduating in May 2024.

Expenses $105,555,179 · Grants $61,544,658 · Revenue $103,201,553
Student Services: Gustavus sponsors 23 varsity athletics teams and 39 intramural activities and club sports, along with more than 120 student organizations. Approximately 99% of students are involved in at least one extracurricular activity. Other student services include admission, community engaged learning, career development, peer mentoring, Office of the Chaplains, center for inclusive excellence, financial assistance, health services, registrar, campus activities and residential life programs.

Expenses $17,397,794
Auxiliary Services: As a residential college, Gustavus is committed to residence hall living as a vital complement to its academic program. Approximately 92% of students live in College-owned residences and eat in the College's Dining Service. During Fall 2023, 1,760 students lived in College-owned residences. The College bookstore provides textbooks and other educational supplies for students. Other items for sale include: clothing embossed with the College's insignia, books and miscellaneous novelty items.

Expenses $14,817,054 · Revenue $22,245,123
Gustavus offers a number of activities that enhance the curricular program, including various public service events and miscellaneous services provided to students.

Expenses $5,957,314 · Grants $40,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Rebecca M Bergman

President

Total calculated

$436,646

From this org

$353,865

From related orgs

$0

Other

$82,781

Hours/week

50 + 0.5 related

Schedule J breakdown matched by us

Base

$337,253

Bonus

$0

Other

$16,612

Deferred

$58,073

Nontaxable benefits

$24,708

Filer's total

$436,646
Brenda S Kelly

Provost and Dean of the College

Total calculated

$246,343

From this org

$199,913

From related orgs

$0

Other

$46,430

Hours/week

50

Schedule J breakdown matched by us

Base

$198,810

Bonus

$0

Other

$1,103

Deferred

$11,142

Nontaxable benefits

$35,288

Filer's total

$246,343
Curtis J Kowaleski

CFO Vice President of Finance and Treasurer

Total calculated

$233,305

From this org

$195,415

From related orgs

$0

Other

$37,890

Hours/week

50 + 0.5 related

Schedule J breakdown matched by us

Base

$193,724

Bonus

$0

Other

$1,691

Deferred

$10,758

Nontaxable benefits

$27,132

Filer's total

$233,305
Thomas W Young

Vice President for Institutional Advancement

Total calculated

$225,070

From this org

$175,134

From related orgs

$0

Other

$49,936

Hours/week

50

Schedule J breakdown matched by us

Base

$173,561

Bonus

$0

Other

$1,573

Deferred

$9,971

Nontaxable benefits

$39,965

Filer's total

$225,070
JoNes R VanHecke

Vice President for Student Life & Dean of Students

Total calculated

$205,163

From this org

$190,467

From related orgs

$0

Other

$14,696

Hours/week

50

Schedule J breakdown matched by us

Base

$107,680

Bonus

$0

Other

$82,787

Deferred

$6,747

Nontaxable benefits

$7,949

Filer's total

$205,163
Mark J Braun

Faculty

Total calculated

$193,412

From this org

$156,953

From related orgs

$0

Other

$36,459

Hours/week

50

Schedule J breakdown matched by us

Base

$135,641

Bonus

$0

Other

$21,312

Deferred

$7,795

Nontaxable benefits

$28,664

Filer's total

$193,412
Marcia J Bunge

Faculty

Total calculated

$179,007

From this org

$139,362

From related orgs

$0

Other

$39,645

Hours/week

50

Schedule J breakdown matched by us

Base

$137,990

Bonus

$0

Other

$1,372

Deferred

$7,514

Nontaxable benefits

$32,131

Filer's total

$179,007
Wilson D Thompson

Vice President for Equity and Inclusion

Total calculated

$177,035

From this org

$139,772

From related orgs

$0

Other

$37,263

Hours/week

50

Schedule J breakdown matched by us

Base

$138,943

Bonus

$0

Other

$829

Deferred

$7,689

Nontaxable benefits

$29,574

Filer's total

$177,035
Jolene D Christensen

Secretary

Total calculated

$70,593

From this org

$54,283

From related orgs

$0

Other

$16,310

Hours/week

50
Tane T Danger

Director

Total calculated

$2,000

From this org

$2,000

From related orgs

$0

Other

$0

Hours/week

2
Nicole M LaVoi

Director

Total calculated

$500

From this org

$500

From related orgs

$0

Other

$0

Hours/week

2
Kelsey K Ackmann

Director

Total calculated

$0

Hours/week

2
Jeffrey C Anderson

Director

Total calculated

$0

Hours/week

2
Scott P Anderson

Director

Total calculated

$0

Hours/week

2
Catherine L Asta

Director

Total calculated

$0

Hours/week

2
Mark W Bergman

Director

Total calculated

$0

Hours/week

2
Suzanne F Boda

Director

Total calculated

$0

Hours/week

2
Robert D Brown Jr

Director

Total calculated

$0

Hours/week

2
Kara K Buckner

Director

Total calculated

$0

Hours/week

2
Michael D Bussey

Director

Total calculated

$0

Hours/week

2
Janette F Concepcion

Director

Total calculated

$0

Hours/week

2
Daniel G Currell

Director

Total calculated

$0

Hours/week

2
Sarah E Cuthill

Director

Total calculated

$0

Hours/week

2
Edward J Drenttel

Director

Total calculated

$0

Hours/week

2
John O Hallberg

Director

Total calculated

$0

Hours/week

2
John M Harris

Director

Total calculated

$0

Hours/week

2
Eric H Hedlund

Director

Total calculated

$0

Hours/week

2
Mary Dee J Hicks

Director

Total calculated

$0

Hours/week

2
Alicia A Hilding

Director

Total calculated

$0

Hours/week

2
John S Himle

Director

Total calculated

$0

Hours/week

2
Keith N Jackson

Director/Vice Chair

Total calculated

$0

Hours/week

2
Peter C Johnson

Director

Total calculated

$0

Hours/week

2
Charles M Kelley

Director

Total calculated

$0

Hours/week

2
Dennis A Lind

Director

Total calculated

$0

Hours/week

2
Jan Lindman

Director

Total calculated

$0

Hours/week

2
David J Lose

Director

Total calculated

$0

Hours/week

2
Mikka S McCracken

Director

Total calculated

$0

Hours/week

2
Bradley S Nuss

Director/Vice Chair

Total calculated

$0

Hours/week

2
Marcia L Page

Director/Chair

Total calculated

$0

Hours/week

2 + 0.5 related
Dee Pederson

Director

Total calculated

$0

Hours/week

2
Dan S Poffenberger

Director

Total calculated

$0

Hours/week

2
Robert C Schnell

Director

Total calculated

$0

Hours/week

2
Karl D Self

Director/Vice Chair

Total calculated

$0

Hours/week

2
Kent V Stone

Director

Total calculated

$0

Hours/week

2
Heather T Wigdahl

Director

Total calculated

$0

Hours/week

2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

1a · Travel for companions
1a · Housing allowance or residence for personal use
1a · Personal services (maid, chauffeur, chef)
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Compensation survey or study
3 · Approval by the board or compensation committee
4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan

Answered no

4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a: As a condition of the President's employment contract, she is required to reside in the College-owned residence located on the College's campus at the College's expense. The College pays for all maintenance and operating expenses of the house, including, but not limited to, housekeeping, grounds keeping, general maintenance and all utilities. The President's residence is available for College-related business and entertainment on a regular and continuing basis. This benefit is excluded from taxable income pursuant to IRC Section 119(a). The President reimbursed the College for spousal travel expenses which totaled approximately $1,500.
Schedule J, Part I, Line 4: Lina 4a: VanHecke received severance payments of $81,987. Line 4b: The President has a supplemental nonqualified retirement plan that has been approved by the Board of Directors. The terms of this plan are set forth in the written contract of the President that has been signed by the Chair of the Board of Directors and amounted to $40,368 for 2023.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

City of Saint Peter

$40,000

Community Support

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Greater Gustavus Fund

501(c)(3) · Fundraising · MN · controlled entity

Directly controlled by Gustavus Adolphus College

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Tennis and Life Camps LLC

Summer Camp · MN · income $1,106,173 · assets $790,457

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Beneficial Interest in Funds Held in Trust (20)

T · Investment · MN
Charitable Remainder Unitrusts (21)

T · Investment · MN · controlled entity
Pooled Life Income Fund

T · Investment · MN · controlled entity

Provenance

Return type: form_990
Tax year: 2023
Filed: 3 April 2025
IRS schema version: 2023v6.0
Source object: 202500939349301570

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