Drake University

Analysis

Drake University is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in July 1950, 76 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, Drake University reported income of $259.1m and spending of $246.3m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $231.0m to $259.1m (+12%), an average of +2.9% a year. 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, Drake University sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within IA. Charities of a similar size with the same main cause include Lafayette College ($259.0m), New York University in Abu Dhabi Corporation ($261.8m) and University of Georgia Foundation ($257.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 20% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $1.6m (0.6% of expenses). Other salaries and wages came to $74.6m. It paid $132k in professional fundraising fees. At year end it held assets of $568.2m against liabilities of $90.6m, net assets of $477.6m. It reported 2,984 employees.