CONCORDIA COLLEGE CORPORATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1891

Legal Domicile

Principal Officer

COLIN IRVINE

Phone

2182994206

Tax Period

2024-05-01 to 2025-04-30

CONCORDIA COLLEGE CORPORATION, founded in 1891, is a major nonprofit that reported $138.3M in total revenue in fiscal year 2024. Revenue grew 18% year-over-year, indicating healthy expansion. The organization ran a surplus of $22.2M, a strong 16% operating margin.

Mission

THE PURPOSE OF CONCORDIA COLLEGE IS TO INFLUENCE THE AFFAIRS OF THE WORLD BY SENDING INTO SOCIETY THOUGHTFUL AND INFORMED MEN AND WOMEN DEDICATED TO THE CHRISTIAN LIFE.

Program Service Accomplishments

Program 1

Expenses: $54,233,639 Revenue: $55,206,634

CONCORDIA COLLEGE OFFERS BACHELOR OF ARTS AND BACHELOR OF MUSIC DEGREES, AS WELL AS A MASTER OF EDUCATION IN WORLD LANGUAGE INSTRUCTION. THE 2024-2025 ENROLLMENT WAS 1,850 STUDENTS, 438 OF WHOM MET...

Program 2

Expenses: $16,914,555 Revenue: $15,187,459

AUXILIARY ENTERPRISES AT CONCORDIA COLLEGE ARE COMPRISED OF 12 RESIDENCE HALLS OR ON-CAMPUS APARTMENTS, A DINING HALL AS WELL AS A QUICK-SERVE RESTAURANT OPTION, SNACK SHOP AND COFFEE SHOP, A...

AUXILIARY ENTERPRISES AT CONCORDIA COLLEGE ARE COMPRISED OF 12 RESIDENCE HALLS OR ON-CAMPUS APARTMENTS, A DINING HALL AS WELL AS A QUICK-SERVE RESTAURANT OPTION, SNACK SHOP AND COFFEE SHOP, A BOOKSTORE AND A DAY CAY FACILITY FOR FACULTY, STAFF AND STUDENTS. 55% OF ENROLLED STUDENTS LIVED IN ON-CAMPUS HOUSING, WHILE 71% OF THE ENROLLED STUDENT POPULATION PARTICIPATED IN ONE OF THE EIGHT MEAL PLAN OPTIONS OFFERED BY THE COLLEGE'S DINING SERVICE.

Program 3

Expenses: $11,778,199 Revenue: $9,439,409

CONCORDIA COLLEGE OWNS AND OPERATES THE CONCORDIA LANGUAGE VILLAGES. THE LANGUAGE VILLAGES USE IMMERSION TECHNIQUES TO TEACH PARTICIPANTS ABOUT OTHER LANGUAGES AND CULTURES WHILE GIVING CONCORDIA...

CONCORDIA COLLEGE OWNS AND OPERATES THE CONCORDIA LANGUAGE VILLAGES. THE LANGUAGE VILLAGES USE IMMERSION TECHNIQUES TO TEACH PARTICIPANTS ABOUT OTHER LANGUAGES AND CULTURES WHILE GIVING CONCORDIA STUDENTS THE OPPORTUNITY TO GAIN PRACTICAL TEACHING EXPERIENCE. THE LANGUAGE VILLAGES OFFER INSTRUCTION IN 17 DIFFERENT LANGUAGES WITH A VARIETY OF YEAR-ROUND PROGRAMS DESIGNED FOR LEARNERS OF EVERY AGE. MOST VILLAGES ARE LOCATED AT VARIOUS SITES ON TURTLE RIVER LAKE NEAR BEMIDJI, MN, AS WELL AS AT VARIOUS LEASED SITES THROUGHOUT MINNESOTA. THE VILLAGES RECENTLY ADDED VIRTUAL VILLAGES, ONLINE IMMERSION PROGRAMMING. DURING THE FISCAL YEAR 2024-2025, CONCORDIA LANGUAGE VILLAGES ENROLLED 4,926 PARTICIPANTS IN A VARIETY OF PROGRAMS OFFERED THROUGHOUT THE YEAR. ALTHOUGH THE MAJORITY OF PROGRAMMING TAKES PLACE DURING THE SUMMER, THE EXPANSION OF YEAR-ROUND LANGUAGE LEARNING THROUGH THE VILLAGES CONTINUES TO GROW.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $27,744,102

Program Service Revenue $81,716,929

Investment Income $26,636,068

Other Revenue $2,237,105

TOTAL REVENUE $138,334,204

Expense Breakdown

Grants Paid $29,513,557

Salaries & Benefits $54,312,109

Fundraising Expenses $2,419,002

Program Expenses $101,002,108

Other Expenses $32,308,564

TOTAL EXPENSES $116,177,564

Year-over-Year Comparison

	2024	2023	Change
Revenue	$138,334,204	$116,948,536	+0.2%
Expenses	$116,177,564	$108,830,110	+0.1%
Net Income	$22,156,640	$8,118,426	+1.7%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

2594

Volunteers

878

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$722,249

Total Directors

Key Employees

$192,617

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARY S RANUM	CHAIR	1.00	Officer Director	$0	$0	$0
REV GARY R HENDERSON	VICE CHAIR	1.00	Officer Director	$0	$0	$0
DR JULIE A BLEHM	SECRETARY	1.00	Officer Director	$0	$0	$0
ASMAH TAREEN	TRUSTEE	1.00	Director	$0	$0	$0
BETH ANN RENNER	TRUSTEE	1.00	Director	$0	$0	$0
BISHOP CRAIG SCHWEITZER	TRUSTEE	1.00	Director	$0	$0	$0
BISHOP TESSA MOON LEISETH	TRUSTEE	1.00	Director	$0	$0	$0
CORREY L HAALAND	TRUSTEE	1.00	Director	$0	$0	$0
DAVID ANDERSON	TRUSTEE	1.00	Director	$0	$0	$0
DAVID J HORAZDOVSKY	TRUSTEE	1.00	Director	$0	$0	$0
DR PATRICIA PEPPER	TRUSTEE	1.00	Director	$0	$0	$0
ELIZABETH CHENEY	TRUSTEE	1.00	Director	$0	$0	$0
JEAN E BYE	TRUSTEE	1.00	Director	$0	$0	$0
JOHN E YDSTIE	TRUSTEE	1.00	Director	$0	$0	$0
KATHRYN HASBARGEN	TRUSTEE	1.00	Director	$0	$0	$0
MARK JORDAHL	TRUSTEE	1.00	Director	$0	$0	$0
MARYANN ANDERSON	TRUSTEE	1.00	Director	$0	$0	$0
PAUL HANSON	TRUSTEE	1.00	Director	$0	$0	$0
REV HANS DAHL	TRUSTEE	1.00	Director	$0	$0	$0
REV LAMONT WELLS	TRUSTEE	1.00	Director	$0	$0	$0
REV MARY PECHAUER	TRUSTEE	1.00	Director	$0	$0	$0
ROBERT JOSSART	TRUSTEE	1.00	Director	$0	$0	$0
RUTH ANNA BUFFALO	TRUSTEE	1.00	Director	$0	$0	$0
SCOTT ANSETH	TRUSTEE	1.00	Director	$0	$0	$0
STEPHANIE LUNDQUIST	TRUSTEE	1.00	Director	$0	$0	$0
TAMMY LEE	TRUSTEE	1.00	Director	$0	$0	$0
TROY J BUTNER	TRUSTEE	1.00	Director	$0	$0	$0
DR COLIN IRVINE	PRESIDENT	40.00	Officer	$369,367	$59,757	$429,124
LINDA J BROWN	TREASURER/VP FOR FINANCE	40.00	Officer	$134,949	$18,503	$153,452
RACHEL CLARKE	TREASURER/VP FOR FINANCE	40.00	Officer	$129,669	$10,004	$139,673
DR SUSAN J LARSON	PROVOST AND DEAN OF THE COLLEGE	40.00	Key Emp	$185,590	$7,027	$192,617
CHRISTOPHER J MASON	DEAN, OFFUTT SCHOOL OF BUSINESS	40.00	Highest	$161,684	$18,396	$180,080
MARY M KOSIR ED	CONCORDIA LANGUAGE VILLAGES	40.00	Highest	$167,671	$4,762	$172,433
DR LISA SETHRE-HOFSTAD VP	STUDENT DEVEL. AND CAMPUS LIFE	40.00	Highest	$162,704	$1,694	$164,398
REV TERRY BRANDT	VP FOR ADVANCEMENT	40.00	Highest	$164,394	$0	$164,394
JOSHUA LYNSE	VP, COMMUNICATIONS AND MARKETING	40.00	Highest	$147,090	$7,465	$154,555

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$138,334,204	$116,177,564	$399,319,943	$22,156,640
2024	$116,948,536	$108,830,110	$384,821,980	$8,118,426
2023	$93,695,769	$105,477,757	$371,823,467	$-11,781,988
2022	$105,812,516	$101,345,334	$386,069,751	$4,467,182
2021	$127,833,637	$118,627,463	$403,850,675	$9,206,174
2020	$145,887,806	$133,694,145	$365,441,053	$12,193,661
2019	$142,633,362	$130,329,546	$375,461,785	$12,303,816
2018	$137,442,483	$122,611,548	$367,218,429	$14,830,935