CORNELL COLLEGE

EIN: 420680335 501(c)(3) Education

MOUNT VERNON, IA

Total Revenue
$87,741,912
Total Expenses
$86,343,392
Total Assets
$230,242,441
Net Assets
$200,071,525
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1854
Legal Domicile
IA
Principal Officer
ROBERT LEVIS
Phone
3198954383
Tax Period
2024-07-01 to 2025-06-30

CORNELL COLLEGE, founded in 1854, is a mid-sized nonprofit in the Education sector that reported $87.7M in total revenue in fiscal year 2024. Net assets of $200.1M represent 27 months of operating reserves.

Mission

TO CREATE A SPACE WHERE STUDENTS CAN DEVELOP INTELLECTUAL CURIOSITY, CREATIVITY AND MORAL COURAGE.

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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 $15,641,479
Program Service Revenue $68,104,442
Investment Income $3,364,058
Other Revenue $631,933
TOTAL REVENUE $87,741,912

Expense Breakdown

Grants Paid $39,351,490
Salaries & Benefits $22,905,943
Fundraising Expenses $2,671,530
Program Expenses $78,542,411
Other Expenses $24,085,959
TOTAL EXPENSES $86,343,392

Year-over-Year Comparison

2024 2023 Change
Revenue $87,741,912 $87,874,205 0.0%
Expenses $86,343,392 $86,294,890 +0.0%
Net Income $1,398,520 $1,579,315 -0.1%
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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Governance

Voting Members
18
Independent Members
18
Employees
983
Volunteers
150

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
3
$704,263
Total Directors
21
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
THOMAS JAN CHAIR 3.00
Officer Director
$0 $0 $0
BAYNARD TAHLLEE CHAIR, GOVERNANCE COMMITTEE 1.00
Director
$0 $0 $0
DURHAM THOMAS CHAIR, AUDIT/RISK ASSESS. COMMITTEE 1.00
Director
$0 $0 $0
MCGRANE JOHN CHAIR, FINANCE COMMITTEE 3.00
Director
$0 $0 $0
STOLL SHERYL ATKINSON CHAIR, ENDOWMENT GROWTH COMMITTEE 1.00
Director
$0 $0 $0
KAO FRANCES AT-LARGE, EXECUTIVE COMMITTEE 1.00
Director
$0 $0 $0
SIMMER SCOTT AT-LARGE, EXECUTIVE COMMITTEE 3.00
Director
$0 $0 $0
WEISS KEVIN AT-LARGE, EXECUTIVE COMMITTEE 1.00
Director
$0 $0 $0
BUCHMEYER GRETCHEN TRUSTEE 1.00
Director
$0 $0 $0
DEANGELES STEVEN TRUSTEE 1.00
Director
$0 $0 $0
EPPS FELECIA TRUSTEE 1.00
Director
$0 $0 $0
FROEHLICH STEPHANIE TRUSTEE 1.00
Director
$0 $0 $0
JENSEN JEFFREY TRUSTEE 1.00
Director
$0 $0 $0
JOHNSON MAUREEN TRUSTEE 1.00
Director
$0 $0 $0
KELLEHER MAKAYLA TRUSTEE 1.00
Director
$0 $0 $0
MACK WARREN TRUSTEE 1.00
Director
$0 $0 $0
MAITLAND KIMBERLY TRUSTEE 1.00
Director
$0 $0 $0
MCLENNAN ROBERT TRUSTEE 1.00
Director
$0 $0 $0
RINGER JERRY TRUSTEE 1.00
Director
$0 $0 $0
RIRIE SCOTT TRUSTEE 1.00
Director
$0 $0 $0
WILLIAMS LAUREN TRUSTEE 1.00
Director
$0 $0 $0
BRAND JONATHAN PRESIDENT 40.00
Officer
$348,958 $90,721 $439,679
FLEGE KELLY VP, CFO/COO 40.00
Officer
$216,685 $47,899 $264,584
CRAWFORD ILENE VP FOR ACADEMIC AFFAIRS 40.00
Highest
$164,560 $37,032 $201,592
HARP JOHN SPECIAL ASSISTANT TO THE PRESIDENT 40.00
Highest
$109,016 $5,303 $114,319
BECKEMEYER WENDY VP FOR ENROLLMENT MANAGEMENT 40.00
Highest
$234,657 $42,890 $277,547
SCHAFER JODI SENIOR DIRECTOR 40.00
Highest
$122,545 $15,030 $137,575
HEJEEBU SANTHI PROFESSOR OF ECONOMICS AND BUSINESS 40.00
Highest
$103,541 $7,969 $111,510
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 $87,741,912 $86,343,392 $230,242,441 $1,398,520
2024 $87,874,205 $86,294,890 $224,822,754 $1,579,315
2023 $79,829,305 $83,940,077 $226,689,943 $-4,110,772
2022 $83,850,862 $80,018,230 $226,333,007 $3,832,632
2021 $87,743,634 $68,501,856 $232,351,142 $19,241,778
2020 $76,089,428 $69,015,044 $214,513,669 $7,074,384
2019 $65,337,896 $66,206,115 $199,631,191 $-868,219
2018 $68,348,365 $62,742,497 $202,831,733 $5,605,868
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