GUSTAVUS ADOLPHUS COLLEGE

EIN: 410695524 501(c)(3) Education

Saint Peter, MN

Total Revenue
$151,267,734
Total Expenses
$157,681,375
Total Assets
$565,537,437
Net Assets
$479,180,748
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1862
Legal Domicile
MN
Principal Officer
John C Volin
Phone
5079338000
Tax Period
2024-06-01 to 2025-05-31

GUSTAVUS ADOLPHUS COLLEGE, founded in 1862, is a major nonprofit in the Education sector that reported $151.3M in total revenue in fiscal year 2024. Net assets of $479.2M represent 38 months of operating reserves.

Mission

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.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $15,933,885
Program Service Revenue $127,004,372
Investment Income $8,439,665
Other Revenue $-110,188
TOTAL REVENUE $151,267,734

Expense Breakdown

Grants Paid $63,168,652
Salaries & Benefits $53,174,478
Fundraising Expenses $3,902,814
Program Expenses $147,437,815
Other Expenses $41,028,285
TOTAL EXPENSES $157,681,375

Year-over-Year Comparison

2024 2023 Change
Revenue $151,267,734 $145,945,868 +0.0%
Expenses $157,681,375 $154,076,541 +0.0%
Net Income $-6,413,641 $-8,130,673 -0.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
34
Independent Members
30
Employees
2548
Volunteers
697

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
4
$943,214
Total Directors
35
$442,958
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Rebecca M Bergman President 50
Officer Director
$357,904 $80,554 $438,458
Brenda S Kelly Provost and Dean of the College 50
Officer
$204,557 $67,712 $272,269
Curtis J Kowaleski CFO Vice President of Finance and Treasurer 50
Officer
$195,392 $37,095 $232,487
Thomas W Young Vice President for Institutional Advancement 50
Highest
$176,558 $48,077 $224,635
Stanley J Shetka Faculty 50
Highest
$205,568 $13,895 $219,463
Mark J Braun Faculty 50
Highest
$164,427 $36,792 $201,219
Kim Frisch Vice President for Enrollment Management 50
Highest
$178,077 $16,001 $194,078
Timothy R Kennedy Vice President for Marketing 50
Highest
$154,097 $14,616 $168,713
Nicole M LaVoi Director 2
Director
$2,500 $0 $2,500
Tane T Danger Director 2
Director
$2,000 $0 $2,000
Kelsey K Ackmann Director 2
Director
$0 $0 $0
Jeffrey C Anderson Director 2
Director
$0 $0 $0
Nathan P Annis Director 2
Director
$0 $0 $0
Catherine L Asta Director 2
Officer Director
$0 $0 $0
Mark W Bergman Director 2
Director
$0 $0 $0
Suzanne F Boda Director 2
Director
$0 $0 $0
Robert D Brown Jr Director 2
Director
$0 $0 $0
Kara K Buckner Director 2
Director
$0 $0 $0
Michael D Bussey Director 2
Director
$0 $0 $0
Janette F Concepcion Director 2
Director
$0 $0 $0
Daniel G Currell Director 2
Director
$0 $0 $0
Sarah E Cuthill Director 2
Director
$0 $0 $0
Edward J Drenttel Director 2
Director
$0 $0 $0
Chris Enstad Director 2
Director
$0 $0 $0
John M Harris Director 2
Director
$0 $0 $0
Eric H Hedlund Director 2
Director
$0 $0 $0
Mary Dee J Hicks Director 2
Director
$0 $0 $0
Alicia A Hilding Director 2
Director
$0 $0 $0
John S Himle Director 2
Director
$0 $0 $0
Keith N Jackson Director/Vice Chair 2
Director
$0 $0 $0
Peter C Johnson Director 2
Director
$0 $0 $0
Charles M Kelley Director 2
Director
$0 $0 $0
Goren Lithell Director 2
Director
$0 $0 $0
David J Lose Director 2
Director
$0 $0 $0
Bradley S Nuss Director/Vice Chair 2
Director
$0 $0 $0
Marcia L Page Director/Chair 2
Director
$0 $0 $0
Dee Pederson Director 2
Director
$0 $0 $0
Robert C Schnell Director 2
Director
$0 $0 $0
Amanda J Simons Director 2
Director
$0 $0 $0
Karl D Self Director/Vice Chair 2
Director
$0 $0 $0
Kent V Stone Director 2
Director
$0 $0 $0
Heather T Wigdahl Director 2
Director
$0 $0 $0
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 $151,267,734 $157,681,375 $565,537,437 $-6,413,641
2024 $145,945,868 $154,076,541 $557,494,933 $-8,130,673
2023 $150,522,013 $158,584,922 $540,762,989 $-8,062,909
2022 $183,510,862 $159,071,069 $555,228,341 $24,439,793
2021 $166,346,183 $148,756,242 $542,230,853 $17,589,941
2020 $148,388,363 $147,479,566 $467,995,139 $908,797
2019 $189,635,634 $144,560,438 $470,509,183 $45,075,196
2018 $172,054,934 $137,503,658 $440,247,418 $34,551,276
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