Rhodes College

Analysis

Rhodes College is a registered charity in United States, based in Memphis, TN. It received its IRS tax-exemption ruling in July 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, Rhodes College reported income of $165.4m and spending of $157.8m, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $133.6m to $165.4m (+24%), an average of +5.5% a year. The sharpest change came in the year to June 2021, when income rose by 75%. Over the whole period it spent 98% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rhodes College sits at the 99th 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 TN. Charities of a similar size with the same main cause include Florida Southern College ($164.8m), The Lutheran University Association Inc ($165.5m) and Whitman College Board of Trustees ($163.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.7% and program service revenue 75% of the total. Compensation of current officers, directors and key employees was $3.3m (2.1% of expenses). Other salaries and wages came to $37.7m. At year end it held assets of $641.0m against liabilities of $112.4m, net assets of $528.6m. It reported 1,621 employees.