DRAKE UNIVERSITY (EIN 420680460) - Form 990 Financial Analysis & Trantor Score

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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

1881

Legal Domicile

Principal Officer

EARL F MARTIN

Phone

5152713112

Tax Period

2024-07-01 to 2025-06-30

DRAKE UNIVERSITY, founded in 1881, is a major nonprofit in the Education sector that reported $256.3M in total revenue in fiscal year 2024. Expenses of $246.3M left a modest 4% surplus.

Mission

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, HEAD MEN'S BASKETBALL COACH, AND HEAD WOMEN'S BASKETBALL COACH FOR UNIVERSITY BUSINESS. ANY EXPENSES INCURRED THAT ARE NOT RELATED TO UNIVERSITY BUSINESS ARE PAID FOR PERSONALLY BY THE INDIVIDUALS. THE VALUE OF THE SOCIAL CLUB MEMBERSHIP IS NOT INCLUDED IN TAXABLE COMPENSATION. THE UNIVERSITY DOES NOT PROVIDE FIRST CLASS TRAVEL FOR ITS EMPLOYEES. THE HEAD MEN'S BASKETBALL COACH , HEAD WOMEN'S BASKETBALL COACH, AND HEAD FOOTBALL COACH OCCASIONALLY TRAVEL BY CHARTER WITH THEIR TEAMS TO SCHEDULED EVENTS. THE VALUE OF THE CHARTER TRAVEL IS NOT INCLUDED IN TAXABLE COMPENSATION. 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. THE VALUE FOR THE TRAVEL FOR COMPANIONS IS NOT INCLUDED IN TAXABLE COMPENSATION.

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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 $39,204,664

Program Service Revenue $187,424,274

Investment Income $19,585,915

Other Revenue $10,062,536

TOTAL REVENUE $256,277,389

Expense Breakdown

Grants Paid $85,687,326

Salaries & Benefits $96,781,058

Fundraising Expenses $3,507,626

Program Expenses $221,542,092

Other Expenses $63,827,534

TOTAL EXPENSES $246,295,918

Year-over-Year Comparison

	2024	2023	Change
Revenue	$256,277,389	$263,054,627	0.0%
Expenses	$246,295,918	$250,461,044	0.0%
Net Income	$9,981,471	$12,593,583	-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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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

2821

Volunteers

4869

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

$1,843,347

Total Directors

$813,542

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EARL MARTIN	PRESIDENT	40.00	Officer Director	$655,175	$158,367	$813,542
MARK ERNST	TRUSTEE AND BOARD CHAIR	1.00	Officer Director	$0	$0	$0
JONATHAN AZU	TRUSTEE AND VICE CHAIR	1.00	Officer Director	$0	$0	$0
PEGGY FISHER	TRUSTEE AND VICE CHAIR	1.00	Officer Director	$0	$0	$0
PAUL LEAVITT	TRUSTEE AND VICE CHAIR	1.00	Officer Director	$0	$0	$0
CYNTHIA LESHER	TRUSTEE AND VICE CHAIR	1.00	Officer Director	$0	$0	$0
PAUL SCHICKLER	TRUSTEE AND VICE CHAIR	1.00	Officer Director	$0	$0	$0
LINDSAY WHORTON	TRUSTEE AND VICE CHAIR	1.00	Officer Director	$0	$0	$0
JOE AIELLO	TRUSTEE	1.00	Director	$0	$0	$0
PATTI AVERY	TRUSTEE	1.00	Director	$0	$0	$0
TOM BERNAU	TRUSTEE	1.00	Director	$0	$0	$0
KAREN BRANDING	TRUSTEE	1.00	Director	$0	$0	$0
SUZIE BURT	TRUSTEE	1.00	Director	$0	$0	$0
LOUIS CARR	TRUSTEE	1.00	Director	$0	$0	$0
JOHNNIE CARSON	TRUSTEE	1.00	Director	$0	$0	$0
MARTA CODINA	TRUSTEE	1.00	Director	$0	$0	$0
PETER COWNIE	TRUSTEE	1.00	Director	$0	$0	$0
ESFAND DINSHAW	TRUSTEE (STARTED 10/1/24)	1.00	Director	$0	$0	$0
PAUL DOUCETTE	TRUSTEE	1.00	Director	$0	$0	$0
KATHY FEHRMAN	TRUSTEE (THRU 6/30/25)	1.00	Director	$0	$0	$0
DAVID GOLDER	TRUSTEE	1.00	Director	$0	$0	$0
GREG JOHANSEN	TRUSTEE	1.00	Director	$0	$0	$0
DOUGLAS LANG	TRUSTEE	1.00	Director	$0	$0	$0
KEN MCCULLUM	TRUSTEE	1.00	Director	$0	$0	$0
RACHEL MCLEAN	TRUSTEE	1.00	Director	$0	$0	$0
JOHN MILLER	TRUSTEE	1.00	Director	$0	$0	$0
AMY OHDE	TRUSTEE	1.00	Director	$0	$0	$0
JEFF RUSSELL	TRUSTEE (STARTED 10/1/24)	1.00	Director	$0	$0	$0
NIKKI SYVERSON	TRUSTEE (STARTED 10/1/24)	1.00	Director	$0	$0	$0
TIFFANY TAUSCHECK	TRUSTEE (STARTED 10/1/24)	1.00	Director	$0	$0	$0
RUDOLPH D TREBELS	TRUSTEE	1.00	Director	$0	$0	$0
IKE VANDEN EYKEL	TRUSTEE (THRU 1/1/2025)	1.00	Director	$0	$0	$0
JIM WALLACE	TRUSTEE	1.00	Director	$0	$0	$0
ADAM VOIGTS	CFO AND TREASURER	40.00	Officer	$211,664	$39,289	$250,953
VENESSA KUHLMANN-MACRO	CHIEF ADMINISTRATION OFFICER	40.00	Officer	$195,907	$38,667	$234,574
SUE MATTISON	PROVOST	40.00	Officer	$244,267	$31,489	$275,756
JOHN SMITH	VICE PRESIDENT INST. ADVANCEMENT	40.00	Officer	$228,384	$40,138	$268,522
ALLISON POHLMAN	HEAD WOMEN'S BASKETBALL COACH	40.00	Highest	$281,364	$17,828	$299,192
BENJAMIN MCCOLLUM	HEAD MEN'S BASKETBALL COACH	40.00	Highest	$489,243	$44,135	$533,378
BRIAN HARDIN	DIRECTOR OF ATHLETICS	40.00	Highest	$256,175	$43,108	$299,283
JERRY ANDERSON	PROFESSOR OF LAW	40.00	Highest	$246,906	$28,814	$275,720
DARIAN DEVRIES	FORMER MEN'S B-BALL COACH (4/30/24)	40.00		$369,080	$17,111	$386,191

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	$256,277,389	$246,295,918	$628,340,806	$9,981,471
2024	$263,054,627	$250,461,044	$607,488,087	$12,593,583
2023	$259,104,983	$246,344,127	$568,210,282	$12,760,856
2022	$252,974,293	$237,997,226	$538,166,489	$14,977,067
2021	$245,392,452	$217,987,751	$572,606,645	$27,404,701
2020	$222,285,025	$221,046,779	$506,477,281	$1,238,246
2019	$231,025,109	$219,093,450	$508,907,328	$11,931,659
2018	$230,909,154	$212,574,693	$500,363,401	$18,334,461

DRAKE UNIVERSITY