LUTHER COLLEGE

EIN: 420680466 501(c)(3) Education

DECORAH, IA

Total Revenue
$120,773,398
Total Expenses
$118,523,384
Total Assets
$343,571,141
Net Assets
$304,306,965
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1865
Legal Domicile
IA
Principal Officer
BRADLEY M CHAMBERLAIN
Phone
5633871015
Tax Period
2024-06-01 to 2025-05-31

LUTHER COLLEGE, founded in 1865, is a major nonprofit in the Education sector that reported $120.8M in total revenue in fiscal year 2024. Revenue decreased 9% compared to the prior year. Net assets of $304.3M represent 30 months of operating reserves.

Mission

ON A CAMPUS OF MORE THAN 800 ACRES ALONG THE BANKS OF THE UPPER IOWA RIVER IN DECORAH, IOWA, LUTHER IS A TRUE RESIDENTIAL CAMPUS, WITH 96 PERCENT OF STUDENTS LIVING ON CAMPUS AND NEARLY 95 PERCENT OF FACULTY CHOOSING TO LIVE WITHIN FIVE MILES OF IT. LUTHER'S STUDENT BODY INCLUDES 1,369 MEN AND WOMEN (47 PERCENT AND 50 PERCENT, RESPECTIVELY) FROM 35 STATES AND 76 FOREIGN COUNTRIES. U.S. STUDENTS OF COLOR CONSTITUTE 13.0 PERCENT OF THE STUDENT BODY. APPROXIMATELY 70 PERCENT OF LUTHER STUDENTS VOLUNTEER DURING THEIR TIME HERE, EXHIBITING THE HIGH SERVICE ETHIC INTRINSIC TO LUTHER CULTURE. THE COLLEGE STRIVES TO BE A PLACE WHERE PEOPLE OF ALL CONVICTIONS CAN REALIZE PERSONAL, INTELLECTUAL, AND SPIRITUAL GROWTH.

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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 $20,682,450
Program Service Revenue $87,735,391
Investment Income $10,623,564
Other Revenue $1,731,993
TOTAL REVENUE $120,773,398

Expense Breakdown

Grants Paid $49,739,918
Salaries & Benefits $38,202,221
Fundraising Expenses $3,599,736
Program Expenses $105,395,247
Other Expenses $30,581,245
TOTAL EXPENSES $118,523,384

Year-over-Year Comparison

2024 2023 Change
Revenue $120,773,398 $132,162,013 -0.1%
Expenses $118,523,384 $118,148,324 +0.0%
Net Income $2,250,014 $14,013,689 -0.8%
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
23
Independent Members
22
Employees
1794
Volunteers
409

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
12
$1,821,467
Total Directors
23
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
J ROBERT PAULSON JR CHAIRPERSON 5.00
Officer Director
$0 $0 $0
SHANNON DUVAL VICE CHAIRPERSON 5.00
Officer Director
$0 $0 $0
ANN LEON SECRETARY 5.00
Officer Director
$0 $0 $0
JEFFERY ANDERSON REGENT 5.00
Director
$0 $0 $0
MICHAEL J ANDERSON REGENT 5.00
Director
$0 $0 $0
BRENT ASPLIN REGENT 5.00
Director
$0 $0 $0
KELLY BIRKENHOLZ REGENT 5.00
Director
$0 $0 $0
WILLIE DAVISMCKENNIE REGENT 5.00
Director
$0 $0 $0
PETER ESPINOSA REGENT 5.00
Director
$0 $0 $0
CHRIS GADE REGENT 5.00
Director
$0 $0 $0
KATHERINE JOHNSON-BECKLIN REGENT 5.00
Director
$0 $0 $0
SANDEE JOPPA REGENT 5.00
Director
$0 $0 $0
DR MARK V LARSON REGENT 5.00
Director
$0 $0 $0
FELIX MALPICA REGENT 5.00
Director
$0 $0 $0
BRADLEY MILLER REGENT 5.00
Director
$0 $0 $0
MICHAEL OSTERHOLM REGENT 5.00
Director
$0 $0 $0
CONNIE PLAEHN REGENT 5.00
Director
$0 $0 $0
ALESSANDRO RANIOLO REGENT 5.00
Director
$0 $0 $0
COREY SCHMIDT REGENT 5.00
Director
$0 $0 $0
ANJELA SHUTTS REGENT 5.00
Director
$0 $0 $0
JAMES A THOMSEN JR REGENT 5.00
Director
$0 $0 $0
LEAH VRIESMAN REGENT 5.00
Director
$0 $0 $0
JAMES YOUNG REGENT 5.00
Director
$0 $0 $0
JENIFER K WARD PRESIDENT - OUTGOING 45.00
Officer
$413,659 $61,363 $475,022
BRADLEY CHAMBERLAIN PRESIDENT 45.00
Officer
$201,209 $83,023 $284,232
MARY DUVALL VP FOR DEVELOPMENT 45.00
Officer
$160,673 $45,307 $205,980
WILLIAM SMITH VP FOR COMMUNICATION 45.00
Officer
$155,061 $26,186 $181,247
KAREN HUNT VP FOR ENROLLMENT MGT - OUTGOING 45.00
Officer
$152,407 $8,079 $160,486
ROBERT CLAY CHIEF EQUITY INCLUSION OFC. AND ASST. 45.00
Officer
$137,730 $16,828 $154,558
MATT BEATY VP FOR ENROLLMENT MANAGEMENT 45.00
Officer
$102,055 $32,448 $134,503
PATTI HETRICK VP FOR FINANCE & ADMINISTRATION 45.00
Officer
$114,129 $14,211 $128,340
JEFF WILKERSON INTERIM PROVOST 45.00
Officer
$83,631 $13,468 $97,099
DAVID MITCHELL ASSISTANT PROF OF MATHMATICS & HEAD WRESTLING COACH 45.00
Highest
$153,084 $64,026 $217,110
ANDREW BAILEY VP FOR FINANCE AND ADMIN. 45.00
Highest
$111,703 $42,802 $154,505
ROBIN CURREY ASSOC PROVOST & DEAN OF ACADEMIC AFFAIRS 45.00
Highest
$115,173 $30,519 $145,692
RICHARD BERNATZ REGISTRAR 45.00
Highest
$119,936 $15,378 $135,314
LAURA BARLAMENT EXEC DIRECT OF STRATEGIC MARKETING 45.00
Highest
$107,617 $18,734 $126,351
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 $120,773,398 $118,523,384 $343,571,141 $2,250,014
2024 $132,162,013 $118,148,324 $326,653,053 $14,013,689
2023 $113,226,481 $120,386,714 $305,906,835 $-7,160,233
2022 $119,959,066 $119,535,194 $317,463,557 $423,872
2021 $125,968,312 $116,831,135 $330,055,480 $9,137,177
2020 $123,520,374 $124,786,418 $291,863,327 $-1,266,044
2019 $127,515,668 $125,283,351 $295,130,912 $2,232,317
2018 $120,137,738 $123,149,226 $299,231,197 $-3,011,488
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