Alverno College

Analysis

Alverno College is a registered charity in United States, based in Milwaukee, WI. It received its IRS tax-exemption ruling in March 1946, 80 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Alverno College reported income of $41.6m and spending of $55.1m, spending 133% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $50.2m to $41.6m (-17%), an average of -4.6% a year. The sharpest change came in the year to June 2021, when income rose by 18%. Over the whole period it spent 107% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Alverno College sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within WI. Charities of a similar size with the same main cause include Frontier Nursing University Inc ($41.6m), Greenville College ($41.6m) and University of Northwestern Ohio ($41.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $1.2m (2.2% of expenses). Other salaries and wages came to $17.6m. It paid $48k in professional fundraising fees. At year end it held assets of $93.9m against liabilities of $26.0m, net assets of $67.9m. It reported 925 employees.