Cornell College

Analysis

Cornell College is a registered charity in United States, based in Mount Vernon, IA. It received its IRS tax-exemption ruling in July 1935, 91 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, Cornell College reported income of $79.8m and spending of $83.9m, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $65.3m to $79.8m (+22%), an average of +5.1% a year. The sharpest change came in the year to June 2020, when income rose by 16%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornell College sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IA. Charities of a similar size with the same main cause include Oglethorpe University Inc ($79.6m), Brazos Education Loan Authority Inc ($80.0m) and Social Good Fund Inc ($79.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 77% of the total. Compensation of current officers, directors and key employees was $543k (0.6% of expenses). Other salaries and wages came to $18.0m. At year end it held assets of $226.7m against liabilities of $45.6m, net assets of $181.1m. It reported 1,004 employees.