Totals
- Total revenue
- $87,741,912
- Total expenses
- $86,343,392
- Contributions and grants received
- $15,641,479
- Grants paid
- $39,351,490
- Program service revenue
- $68,104,442
- Investment income
- $3,364,058
- Other revenue
- $631,933
- Total assets, end of year
- $230,242,441
- Total liabilities, end of year
- $30,170,916
- Net assets or fund balances, end of year
- $200,071,525
- Program services expenses (Part IX)
- $78,542,411
- Management and general expenses
- $5,129,451
- Fundraising expenses
- $2,671,530
- Program service expenses (Part III)
- $78,542,411
Program services were 91.0% 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.
-
1c · Fundraising events
$3,645
-
1f · All other contributions, gifts and grants
$15,637,834
-
1g · Noncash contributions included above
$1,432,214
-
2a · Program service revenue: TUITION AND FEES
total $55,819,622 · related or exempt $55,819,622
-
2b · Program service revenue: DINING
total $6,208,108 · related or exempt $6,208,108
-
2c · Program service revenue: RESIDENCE
total $5,312,890 · related or exempt $5,312,890
-
2d · Program service revenue: ATHLETICS
total $385,575 · related or exempt $385,575
-
2e · Program service revenue: EDUCATIONAL TRIPS
total $378,247 · related or exempt $378,247
-
3 · Investment income
total $2,641,535 · unrelated business $1,988 · excluded $2,639,547
-
6a · Gross rents
real property $196,002
-
6b · Less rental expenses
real property $107,916
-
6c · Rental income or loss
real property $88,086
-
6d · Net rental income or loss
total $88,086 · excluded $88,086
-
7a · Gross sales of assets other than inventory
securities $11,407,200
-
7b · Less cost or other basis and sales expenses
securities $10,684,677
-
7c · Gain or loss
securities $722,523
-
7d · Net gain or loss
total $722,523 · excluded $722,523
-
8a · Fundraising events: gross income
$6,400
-
8a · Fundraising events: contributions included on line 1c
$3,645
-
8b · Fundraising events: direct expenses
$2,799
-
8c · Net income from fundraising events
total $3,601 · excluded $3,601
-
11a · Other revenue: ALL OTHER REVENUE
total $459,914 · excluded $459,914
-
11b · Other revenue: BRACKETT HOUSE
total $80,332 · unrelated business $72,552 · excluded $7,780
-
11e · Other revenue, total
$540,246
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $39,299,520 · program services $39,299,520
-
3 · Grants to foreign organizations and individuals
total $51,970 · program services $51,970
-
5 · Compensation of officers, directors and key employees
total $678,257 · management and general $678,257
-
7 · Other salaries and wages
total $17,044,741 · program services $14,327,842 · management and general $1,345,301 · fundraising $1,371,598
-
8 · Pension plan contributions
total $1,081,088 · program services $919,413 · management and general $73,660 · fundraising $88,015
-
9 · Other employee benefits
total $2,879,234 · program services $2,358,721 · management and general $294,752 · fundraising $225,761
-
10 · Payroll taxes
total $1,222,623 · program services $992,716 · management and general $134,875 · fundraising $95,032
-
11a · Fees: management
total $291,429 · program services $72,014 · management and general $217,339 · fundraising $2,076
-
11b · Fees: legal
total $97,300 · program services $4,000 · management and general $93,300
-
11c · Fees: accounting
total $80,054 · management and general $80,054
-
11f · Fees: investment management
total $72,844 · management and general $72,844
-
11g · Fees: other
total $96,289 · program services $23,542 · fundraising $72,747
-
12 · Advertising and promotion
total $1,253,989 · program services $1,138,587 · management and general $12,685 · fundraising $102,717
-
13 · Office expenses
total $1,828,609 · program services $1,476,957 · management and general $106,454 · fundraising $245,198
-
14 · Information technology
total $1,059,272 · program services $242,163 · management and general $704,199 · fundraising $112,910
-
16 · Occupancy
total $3,955,078 · program services $3,782,102 · management and general $78,063 · fundraising $94,913
-
17 · Travel
total $1,951,462 · program services $1,732,448 · management and general $86,883 · fundraising $132,131
-
19 · Conferences, conventions and meetings
total $87,673 · program services $66,833 · management and general $13,974 · fundraising $6,866
-
20 · Interest
total $1,556,980 · program services $1,458,297 · management and general $84,266 · fundraising $14,417
-
22 · Depreciation, depletion and amortization
total $6,511,397 · program services $6,276,667 · management and general $154,447 · fundraising $80,283
-
23 · Insurance
total $892,616 · program services $120 · management and general $892,496
-
24a · Other expenses: DINING
total $3,825,317 · program services $3,819,559 · management and general $5,758
-
24b · Other expenses: MISCELLANEOUS EXPENSE
total $525,650 · program services $498,940 · management and general -$156 · fundraising $26,866
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $21,276
-
2 · Savings and temporary cash investments
beginning of year $6,592,820 · end of year $7,289,065
-
3 · Pledges and grants receivable
beginning of year $12,975,150 · end of year $14,530,316
-
4 · Accounts receivable
beginning of year $637,968 · end of year $621,348
-
8 · Inventories for sale or use
beginning of year $79,609 · end of year $69,634
-
9 · Prepaid expenses and deferred charges
beginning of year $773,841 · end of year $741,791
-
10a · Land, buildings and equipment: cost or other basis
$203,939,983
-
10b · Land, buildings and equipment: accumulated depreciation
$100,358,536
-
10c · Land, buildings and equipment, net
beginning of year $107,362,738 · end of year $103,581,447
-
11 · Investments: publicly traded securities
beginning of year $82,850,297 · end of year $90,416,854
-
12 · Investments: other securities
beginning of year $673,253 · end of year $640,569
-
13 · Investments: program-related
beginning of year $1,265,209 · end of year $1,420,599
-
15 · Other assets
beginning of year $11,611,869 · end of year $10,909,542
-
17 · Accounts payable and accrued expenses
beginning of year $4,089,103 · end of year $2,285,555
-
19 · Deferred revenue
beginning of year $266,799 · end of year $355,257
-
20 · Tax-exempt bond liabilities
beginning of year $7,500,000 · end of year $6,062,500
-
24 · Unsecured notes and loans payable
beginning of year $16,235,146 · end of year $15,175,329
-
25 · Other liabilities
beginning of year $5,493,116 · end of year $6,292,275
-
27 · Net assets without donor restrictions
beginning of year $90,022,593 · end of year $91,081,531
-
28 · Net assets with donor restrictions
beginning of year $101,215,997 · end of year $108,989,994
Mission and programs · 2024
Mission
CORNELL COLLEGE OFFERS AN INNOVATIVE AND RIGOROUS LEARNING COMMUNITY WHERE FACULTY AND STAFF COLLABORATE WITH STUDENTS TO DEVELOP THE INTELLECTUAL CURIOSITY, CREATIVITY AND MORAL COURAGE NECESSARY FOR A LIFETIME OF LEARNING AND ENGAGED CITIZENSHIP.
Activities or mission (Part I)
TO CREATE A SPACE WHERE STUDENTS CAN DEVELOP INTELLECTUAL CURIOSITY, CREATIVITY AND MORAL COURAGE.
-
INSTRUCTION, ACADEMIC SUPPORT, CONTINUING EDUCATION AND THE LIBRARY:CORNELL COLLEGE, A SELECTIVE LIBERAL ARTS COLLEGE IN MOUNT VERNON, IOWA, IS RECOGNIZED AS ONE OF THE "COLLEGES THAT CHANGE LIVES." THE ACADEMIC IMMERSION OF ITS ONE COURSE AT A TIME CURRICULUM ALLOWS STUDENTS TO FOCUS ON A SINGLE ACADEMIC SUBJECT PER 18-DAY BLOCK. SINCE PROFESSORS ONLY TEACH ONE BLOCK AT A TIME, STUDENTS HAVE MORE ACCESS TO PROFESSORS, AND PROFESSORS CAN TEACH STUDENTS OFF-CAMPUS IN WHATEVER VENUE BEST FITS THE MATERIAL. WITH A STUDENT BODY FROM 45 STATES, PUERTO RICO, AND 24 COUNTRIES OUTSIDE THE US, AND RENOWNED VISITING SPEAKERS, FACULTY, AND ENTERTAINERS, CORNELL OFFERS THE WORLD FROM ITS HILLTOP CAMPUS.
Expenses $57,447,549 · Grants $39,351,490 · Revenue $56,205,197
-
STUDENT AID AND FINANCIAL ASSISTANCE: STUDENTS INVEST IN THEIR EDUCATION AT CORNELL COLLEGE, AND CORNELL INVESTS IN THEIR FUTURES. CORNELL COLLEGE GRADUATES ARE GETTING JOBS AND NOT BURDENED BY DEBT, AS SHOWN BY OUR LOW AVERAGE LOAN DEFAULT RATE. COMPARED TO GRADUATES OF OTHER FOUR-YEAR INSTITUTIONS, CORNELLIANS ARE TWICE AS LIKELY TO HAVE THE MEANS TO PAY OFF STUDENT LOANS. 92% OF CORNELL'S 2025 GRADUATING CLASS COMPLETED THEIR DEGREES IN FOUR YEARS OR LESS. CORNELL'S MEDICAL SCHOOL ACCEPTACE RATE IS 79% FOR FIRST TIME APPLICANTS (2008-2025); THE NATIONAL AVERAGE FOR THOSE YEARS IS 40%. 89% OF OUR TEACHER EDUCATION PROGRAM STUDENTS BECOME CERTIFIED TEACHERS AFTER GRADUATION
Expenses $12,341,658
-
AUXILIARY ENTERPRISES (HOUSING, DINING, STUDENT UNION AND SERVICE CENTER): FOUNDED IN 1853, CORNELL'S PICTURESQUE HILLTOP CAMPUS CONTAINS A MIX OF HISTORIC AND MODERN FACILITIES, RANGING FROM THE MAJESTIC KING CHAPEL TO THE NEWLY RENOVATED THOMAS COMMONS. IT IS LOCATED IN MOUNT VERNON, IOWA-AN URBAN FRINGE COMMUNITY RECOGNIZED BY FROMMER'S AS ONE OF "AMERICA'S COOLEST SMALL TOWNS AND LOCATED IN THE HEART OF IOWA'S CREATIVE CORRIDOR. CORNELL'S HILLTOP CAFE WAS NAMED THE SECOND BEST DINING HALL IN THE NATION BY BESTCOLLEGES.COM IN 2015.
Expenses $8,753,204 · Revenue $11,899,245
As filed on the 2024 return.
Listed in Part VII
-
Thomas JanTHOMAS JAN
CHAIR
- Total calculated
- $0
- Hours/week
- 3
-
Baynard TahlleeBAYNARD TAHLLEE
CHAIR, GOVERNANCE COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
Durham ThomasDURHAM THOMAS
CHAIR, AUDIT/RISK ASSESS. COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
McGrane JohnMCGRANE JOHN
CHAIR, FINANCE COMMITTEE
- Total calculated
- $0
- Hours/week
- 3
-
Stoll Sheryl AtkinsonSTOLL SHERYL ATKINSON
CHAIR, ENDOWMENT GROWTH COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kao FrancesKAO FRANCES
AT-LARGE, EXECUTIVE COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
Simmer ScottSIMMER SCOTT
AT-LARGE, EXECUTIVE COMMITTEE
- Total calculated
- $0
- Hours/week
- 3
-
Weiss KevinWEISS KEVIN
AT-LARGE, EXECUTIVE COMMITTEE
- Total calculated
- $0
- Hours/week
- 1
-
Buchmeyer GretchenBUCHMEYER GRETCHEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Deangeles StevenDEANGELES STEVEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Epps FeleciaEPPS FELECIA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Froehlich StephanieFROEHLICH STEPHANIE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jensen JeffreyJENSEN JEFFREY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Johnson MaureenJOHNSON MAUREEN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kelleher MakaylaKELLEHER MAKAYLA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mack WarrenMACK WARREN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Maitland KimberlyMAITLAND KIMBERLY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
McLennan RobertMCLENNAN ROBERT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ringer JerryRINGER JERRY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Ririe ScottRIRIE SCOTT
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Williams LaurenWILLIAMS LAUREN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Brand JonathanBRAND JONATHAN
PRESIDENT
- Total calculated
- $439,679
- From this org
- $348,958
- From related orgs
- $0
- Other
- $90,721
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $345,341
- Bonus
- $0
- Other
- $3,617
- Deferred
- $60,754
- Nontaxable benefits
- $29,967
- Filer's total
- $439,679
-
Flege KellyFLEGE KELLY
VP, CFO/COO
- Total calculated
- $264,584
- From this org
- $216,685
- From related orgs
- $0
- Other
- $47,899
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $215,830
- Bonus
- $0
- Other
- $855
- Deferred
- $16,766
- Nontaxable benefits
- $31,133
- Filer's total
- $264,584
-
Crawford IleneCRAWFORD ILENE
VP FOR ACADEMIC AFFAIRS
- Total calculated
- $201,592
- From this org
- $164,560
- From related orgs
- $0
- Other
- $37,032
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $164,091
- Bonus
- $0
- Other
- $469
- Deferred
- $13,311
- Nontaxable benefits
- $23,721
- Filer's total
- $201,592
-
Harp JohnHARP JOHN
SPECIAL ASSISTANT TO THE PRESIDENT
- Total calculated
- $114,319
- From this org
- $109,016
- From related orgs
- $0
- Other
- $5,303
- Hours/week
- 40
-
Beckemeyer WendyBECKEMEYER WENDY
VP FOR ENROLLMENT MANAGEMENT
- Total calculated
- $277,547
- From this org
- $234,657
- From related orgs
- $0
- Other
- $42,890
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $233,203
- Bonus
- $0
- Other
- $1,454
- Deferred
- $18,619
- Nontaxable benefits
- $24,271
- Filer's total
- $277,547
-
Schafer JodiSCHAFER JODI
SENIOR DIRECTOR
- Total calculated
- $137,575
- From this org
- $122,545
- From related orgs
- $0
- Other
- $15,030
- Hours/week
- 40
-
Hejeebu SanthiHEJEEBU SANTHI
PROFESSOR OF ECONOMICS AND BUSINESS
- Total calculated
- $111,510
- From this org
- $103,541
- From related orgs
- $0
- Other
- $7,969
- Hours/week
- 40
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
- 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
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 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)
- PART I, LINE 1A
- NON-TAXABLE TRAVEL FOR COMPANIONS - CORNELL'S PRESIDENT WILL OCCASIONALLY TRAVEL WITH HIS SPOUSE TO VARIOUS CORNELL FUNCTIONS, AS AN ADVOCATE OF THE COLLEGE. NON-TAXABLE RESIDENCE FOR PERSONAL USE - PRESIDENT BRAND IS REQUIRED TO LIVE AND ENTERTAIN IN THE PRESIDENT'S HOME WHICH IS ON CAMPUS AND OWNED BY THE COLLEGE.
- PART I, LINE 4B
- IN CALENDAR 2024, THE ORGANIZATION CONTRIBUTED $34,489 TO JONATHAN BRAND'S 457(F) AND IS CORRECTLY REFLECTED IN SCHEDULE J, PART II, COL C. THIS AMOUNT WAS INADVERTENTLY INCLUDED ON THE 2023 SCHEDULE J, PART II, COL C. NO AMOUNTS VESTED OR WERE DISTRIBUTED IN 2024.
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
No itemized grants to organizations on this return.
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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
CHARITABLE REMAINDER UNITRUSTS (5)
T · INVESTMENTS · IA · controlled entity
Directly controlled by CORNELL COLLEGE
-
CHARITABLE REMAINDER ANNUITY TRUSTS (10)
T · INVESTMENTS · IA · controlled entity
Directly controlled by CORNELL COLLEGE
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 30 June 2025
- IRS schema version
- 2024v5.5
- Source object
- 202600449349300310
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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