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Nonprofiteer
← DRAKE UNIVERSITY

Form 990 for tax year 2022

Filed by DRAKE UNIVERSITY.

Totals

Total revenue
$259,104,983
Total expenses
$246,344,127
Contributions and grants received
$52,717,798
Grants paid
$84,144,553
Program service revenue
$193,042,717
Investment income
$7,336,673
Other revenue
$6,007,795
Total assets, end of year
$568,210,282
Total liabilities, end of year
$90,602,626
Net assets or fund balances, end of year
$477,607,656
Program services expenses (Part IX)
$205,529,299
Management and general expenses
$37,092,645
Fundraising expenses
$3,722,183
Program service expenses (Part III)
$205,529,299

Program services were 83.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DARIAN DEVRIES

    HEAD MEN'S BASKETBALL COACH

    Total calculated
    $677,323
    From this org
    $631,257
    From related orgs
    $0
    Other
    $46,066
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $576,275
    Bonus
    $50,000
    Other
    $4,982
    Deferred
    $24,400
    Nontaxable benefits
    $21,666
    Filer's total
    $677,323

  • EARL MARTIN

    PRESIDENT

    Total calculated
    $645,930
    From this org
    $493,003
    From related orgs
    $0
    Other
    $152,927
    Hours/week
    40 + 5 related

    Schedule J breakdown matched by us

    Base
    $404,212
    Bonus
    $74,000
    Other
    $14,791
    Deferred
    $94,400
    Nontaxable benefits
    $58,527
    Filer's total
    $645,930

  • ALLAN VESTAL

    PROFESSOR OF LAW

    Total calculated
    $311,665
    From this org
    $270,284
    From related orgs
    $0
    Other
    $41,381
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $265,768
    Bonus
    $0
    Other
    $4,516
    Deferred
    $21,284
    Nontaxable benefits
    $20,097
    Filer's total
    $311,665

  • JERRY ANDERSON

    DEAN OF LAW SCHOOL

    Total calculated
    $296,219
    From this org
    $253,856
    From related orgs
    $0
    Other
    $42,363
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,857
    Bonus
    $0
    Other
    $3,999
    Deferred
    $20,599
    Nontaxable benefits
    $21,764
    Filer's total
    $296,219

  • BRIAN HARDIN

    DIRECTOR OF ATHLETICS

    Total calculated
    $288,053
    From this org
    $247,146
    From related orgs
    $0
    Other
    $40,907
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $212,860
    Bonus
    $18,500
    Other
    $15,786
    Deferred
    $17,763
    Nontaxable benefits
    $23,144
    Filer's total
    $288,053

  • SUE MATTISON

    PROVOST

    Total calculated
    $273,537
    From this org
    $237,519
    From related orgs
    $0
    Other
    $36,018
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,340
    Bonus
    $7,500
    Other
    $6,679
    Deferred
    $18,428
    Nontaxable benefits
    $17,590
    Filer's total
    $273,537

  • ALLISON POHLMAN

    HEAD WOMEN'S BASKETBALL COACH

    Total calculated
    $240,368
    From this org
    $224,970
    From related orgs
    $0
    Other
    $15,398
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,187
    Bonus
    $0
    Other
    $22,783
    Deferred
    $14,175
    Nontaxable benefits
    $1,223
    Filer's total
    $240,368

  • JOHN SMITH

    VP OF INST. ADVANCEMENT

    Total calculated
    $243,555
    From this org
    $206,761
    From related orgs
    $0
    Other
    $36,794
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $200,253
    Bonus
    $0
    Other
    $6,508
    Deferred
    $16,535
    Nontaxable benefits
    $20,259
    Filer's total
    $243,555

  • ADAM VOIGTS

    CFO & TREASURER

    Total calculated
    $230,070
    From this org
    $194,061
    From related orgs
    $0
    Other
    $36,009
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $191,006
    Bonus
    $2,000
    Other
    $1,055
    Deferred
    $15,795
    Nontaxable benefits
    $20,214
    Filer's total
    $230,070

  • VENESSA KUHLMANN-MACRO

    CHIEF ADMIN OFFICER

    Total calculated
    $209,832
    From this org
    $174,014
    From related orgs
    $0
    Other
    $35,818
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,842
    Bonus
    $3,500
    Other
    $1,672
    Deferred
    $14,142
    Nontaxable benefits
    $21,676
    Filer's total
    $209,832

  • MARK ERNST

    TRUSTEE & BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JOE AIELLO

    TRUSTEE & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • JONATHAN AZU

    TRUSTEE & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • PAUL DOUCETTE

    TRUSTEE & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • PEGGY FISHER

    TRUSTEE & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • DOUGLAS LANG

    TRUSTEE & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • PAUL LEAVITT

    TRUSTEE & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • CYNTHIA LESHER

    TRUSTEE & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • PAUL SCHICKLER

    TRUSTEE & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • JIM WALLACE

    TRUSTEE & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • LINDSAY WHORTON

    TRUSTEE & VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • TOM BERNAU

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KAREN BRANDING

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DOUGLAS BRUCE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • SUZIE BURT

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARTHA CAPPS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LOUIS CARR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • JOHNNIE CARSON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • MARTA CODINA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • PETER COWNIE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • KATHY FEHRMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVID GOLDER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DANIEL JACOBI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1 + 3 related

  • GREG JOHANSEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • CATHRYN LACY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RACHEL MCLEAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • DAVID MILES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • AMY OHDE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • RUDOLPH D TREBELS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • IKE VANDEN EYKEL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • LARRY ZIMPLEMAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

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 · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
A UNIVERSITY-OWNED RESIDENCE IS PROVIDED TO THE PRESIDENT. THIS IS A CONDITION OF EMPLOYMENT AND IS FOR THE CONVENIENCE OF THE EMPLOYER. THE RESIDENCE IS USED FOR MANY UNIVERSITY FUNCTIONS, MEALS, AND RECEPTIONS INVOLVING FACULTY, STAFF, STUDENTS, DONORS, AND THE GENERAL PUBLIC THROUGHOUT THE YEAR. THE VALUE OF THE RESIDENCE IS INCLUDED IN NONTAXABLE BENEFITS IN PART II, COLUMN (D). A SOCIAL CLUB MEMBERSHIP IS PROVIDED TO THE PRESIDENT, ATHLETIC DIRECTOR AND HEAD MEN'S BASKETBALL COACH FOR UNIVERSITY BUSINESS. ANY EXPENSES INCURRED THAT ARE NOT RELATED TO UNIVERSITY BUSINESS ARE PAID FOR PERSONALLY BY THE INDIVIDUALS. THE UNIVERSITY DOES NOT PROVIDE FIRST CLASS TRAVEL FOR ITS EMPLOYEES. THE HEAD MEN'S BASKETBALL COACH OCCASIONALLY TRAVELS BY CHARTER WITH THE BASKETBALL TEAMS TO SCHEDULED EVENTS. TRAVEL FOR COMPANIONS IS PROVIDED IF IT IS NECESSARY FOR BUSINESS PURPOSES. WHEN TRAVEL FOR COMPANIONS IS PROVIDED FOR NON-BUSINESS PURPOSES, THE VALUE OF THE TRAVEL IS INCLUDED IN TAXABLE WAGES. THERE WERE NO BENEFITS RELATED TO TRAVEL FOR COMPANIONS DURING THE YEAR. NONTAXABLE BENEFITS INCLUDE UNDERGRADUATE TUITION WAIVER BENEFITS OF THE EMPLOYEE AND IMMEDIATE FAMILY.
PART I, LINE 4B
AS DIRECTED WITHIN SPECIFIED EMPLOYMENT CONTRACT FOR EARL F. MARTIN, PRESIDENT, THE ORGANIZATION MAINTAINS A NON-QUALIFIED DEFERRED COMPENSATION PLAN UNDER SECTION 457(F) OF THE INTERNAL REVENUE CODE. THE PLAN PROVIDES FOR THE ORGANIZATION TO MAKE CONTRIBUTIONS FOR ELIGIBLE EMPLOYEES. CONTRIBUTIONS OF $70,000 WERE MADE TO THE PLAN DURING THE 2022 AND 2023 PLAN YEARS. NO DISTRIBUTIONS WERE MADE RELATED TO THESE CONTRIBUTIONS.
PART I, LINE 7
EARL F. MARTIN III, BRIAN HARDIN, AND DARIAN DEVRIES RECEIVED BONUS PAYMENTS PURSUANT TO CRITERIA SPECIFIED IN THEIR RESPECTIVE EMPLOYMENT CONTRACTS. OTHER SENIOR LEADERS WERE AWARDED DISCRETIONARY BONUS PAYMENTS BASED ON PERFORMANCE INDICATORS DURING THE ANNUAL PERFORMANCE EVALUATION PROCESS AS DETERMINED BY THE PRESIDENT.

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.

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.

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.

  • COMMUNITY HOLDINGS LLC

    SOLE MEMBER LLC FOR NMTC FINANCING · IA · income -$195,287 · assets $7,300,855

    Directly controlled by DRAKE UNIVERSITY

Provenance

Return type
form_990
Tax year
2022
Filed
8 January 2024
IRS schema version
2022v5.0
Source object
202401289349303660

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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