Carthage College
- Assets
- $408.8m
- Revenue
- $125.2m
- Investments
- $797.5k
- Employees
- 2,347
- Location
- Kenosha, WI
- Founding
- 05/1936
- Data as of
- 06/2021
- EIN
- 37-0661496
Organization Overview
Carthage College is located in Kenosha, WI. The organization was established in 1936. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Carthage College employed 2,347 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carthage College is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Carthage College generated $125.2m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $114.9m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.CARTHAGE IS A SCHOOL OF LIBERAL ARTS AND SCIENCES PROVIDING STUDENTS WITH A COLLEGE EDUCATION. CARTHAGE IS AFFILIATED WITH THE EVANGELICAL LUTHERAN CHURCH OF AMERICA.
Describe the Organization's Program Activity:
INSTRUCTION: CARTHAGE COLLEGE AWARDS THE BACHELOR OF ARTS DEGREES WITH MAJORS IN MORE THAN 40 SUBJECT AREAS AND THREE MASTER DEGREES. THE 2020-2021 ACADEMIC YEAR ENROLLMENT WAS 2,683 FULL TIME EQUIVALENT (FTE) STUDENTS IN THE FALL SEMESTER AND 2,464 FTE STUDENTS ENROLLED IN THE SPRING SEMESTER. OF THE TOTAL NUMBER OF STUDENTS ENROLLED IN 2020-2021 ACADEMIC YEAR, 527 MET THE UNDERGRADUATE REQUIREMENTS OF GRADUATION, 49 MET THE GRADUATE REQUIREMENTS FOR THE MASTERS IN EDUCATION, 26 MET THE GRADUATE REQUIREMENTS FOR THE MASTERS IN SCIENCE AND 12 MET THE GRADUATE REQUIREMENTS FOR MASTERS IN MUSIC.
INSTITUTIONAL SUPPORT AT CARTHAGE COLLEGE IS COMPRISED OF SERVICES THAT SUPPORT ADMINISTRATIVE FUNCTIONS OF THE COLLEGE INCLUDING PRESIDENT'S OFFICE, ADVANCEMENT, COMMUNICATIONS, FINANCE & ADMINISTRATIVE SERVICES, AND GENERAL INSTITUTIONAL EXPENSES.
STUDENT SERVICES: CARTHAGE BOASTS A LONG-STANDING COMMITMENT TO EDUCATING THE WHOLE PERSON BY NOURISHING THE INTELLECTUAL, SPIRITUAL, EMOTIONAL, SOCIAL AND PHYSICAL DIMENSIONS OF STUDENTS' LIVES. THE COLLEGE OFFERS A CURRICULUM THAT CHALLENGES STUDENTS TO THINK CRITICALLY AND EXPRESS THEMSELVES EFFECTIVELY, A CAMPUS LIFE THAT ENCOURAGES INVOLVEMENT AND SERVICE (OVER 120 STUDENT ORGANIZATIONS), A COMMUNITY OF FAITH THAT NURTURES SPIRITUAL GROWTH AND DEVELOPS MORAL RESPONSIBILITY, AND CO-CURRICULAR ACTIVITIES THAT INSPIRE STUDENTS TO TEST THEIR OWN LIMITS AND EXPRESS THEIR INDIVIDUALITY. THE AWARD-WINNING STATE-OF-THE-ART HEDBERG LIBRARY UNITES BOOKS, PERIODICALS, ACADEMIC COMPUTING, NETWORK DATA PORTS AND MULTIMEDIA RESOURCES.
AUXILIARY ENTERPRISES AT CARTHAGE COLLEGE ARE COMPRISED OF 13 RESIDENCE HALLS ON CAMPUS (12 WERE IN USE), 10 DINING VENUES, AND A BOOKSTORE FOR STUDENTS, FACULTY AND STAFF. OF THE TOTAL STUDENT BODY, 60.7% OF ENROLLED STUDENTS LIVED ON-CAMPUS AND PARTICIPATED IN THE RESIDENT STUDENT BOARD PLAN. 1,629 STUDENTS RESIDED IN CAMPUS HOUSING DURING THE 2020-2021 ACADEMIC YEAR.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Swallow President & Chief Executive Officer | Officer | 40 | $415,128 |
David Timmerman Provost And Chief Operating Officer | Officer | 40 | $206,892 |
Kimberlie Goldsberry Vice President For Student Affairs - Dean Of Stude | Officer | 40 | $166,146 |
Thomas Kline Vice President For Institutional Advancement | Officer | 40 | $164,216 |
Abigail Hanna VP For Admin Planning And Innovation | Officer | 40 | $158,801 |
Kevin Crosby Professor Of Physics, Director Wi Space Grant Co | 40 | $147,434 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Go Audio Event Services | 6/29/21 | $205,498 |
Koch Kuts Landscaping | 6/29/21 | $166,033 |
Universal Protection Security | 6/29/21 | $497,424 |
Riteway Bus Service | 6/29/21 | $116,074 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $49,138 |
| Related organizations | $0 |
| Government grants | $6,450,161 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,889,935 |
| Noncash contributions included in lines 1a–1f | $575,428 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,389,234 |
| Total Program Service Revenue | $101,427,602 |
| Investment income | $3,617,202 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$414,193 |
| Net Income from Fundraising Events | -$14,311 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $125,157,339 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| Grants and other assistance to domestic individuals. | $39,728,156 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,389,092 |
| Compensation of current officers, directors, key employees. | $341,640 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $28,565,101 |
| Pension plan accruals and contributions | $677,696 |
| Other employee benefits | $6,290,369 |
| Payroll taxes | $2,278,128 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $104,008 |
| Fees for services: Accounting | $102,520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $73,672 |
| Fees for services: Other | $4,920,487 |
| Advertising and promotion | $1,078,880 |
| Office expenses | $2,369,965 |
| Information technology | $1,692,366 |
| Royalties | $0 |
| Occupancy | $12,577,587 |
| Travel | $631,131 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $91,698 |
| Interest | $1,280,687 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,873,693 |
| Insurance | $1,139,998 |
| All other expenses | $993,543 |
| Total functional expenses | $114,873,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,288,348 |
| Pledges and grants receivable | $1,971,022 |
| Accounts receivable, net | $45,109,006 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,529,732 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,941,562 |
| Net Land, buildings, and equipment | $182,983,370 |
| Investments—publicly traded securities | $167,097,976 |
| Investments—other securities | $797,495 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $53,632 |
| Total assets | $408,772,143 |
| Accounts payable and accrued expenses | $5,056,409 |
| Grants payable | $1,593,662 |
| Deferred revenue | $50,506,375 |
| Tax-exempt bond liabilities | $45,560,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $241,122 |
| Other liabilities | $3,194,272 |
| Total liabilities | $106,151,840 |
| Net assets without donor restrictions | $167,735,322 |
| Net assets with donor restrictions | $134,884,981 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $408,772,143 |
Grants Awarded
Over the last fiscal year, Carthage College has awarded $15,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED WAY OF KENOSHA COUNTY PURPOSE: ANNUAL CONTRIBUTION TO "BUILDING OUR FUTURE" PROGRAM | $10,000 |
Racine, WI PURPOSE: CONTRIBUTION TO "HIGHER EXPECTATIONS" PROGRAM | $5,000 |
Grants Recieved
Over the last fiscal year, we have identified 49 grants that Carthage College has recieved totaling $933,782.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $283,200 |
David B Jones Foundation Wilmington, DE PURPOSE: CARTHAGE INSTITUTE OF PALEONTOLOGY'S PREPARATOR AND UNDERGRADUATE PALEO EDUCATION PROJECT | $74,646 |
Franklin I & Irene List Saemann Foundation Morrison, IL PURPOSE: DONATION | $50,000 |
David A Straz Jr Foundation Tampa, FL PURPOSE: PROGRAMS | $50,000 |
William & Sheila Konar Foundation W Henrietta, NY PURPOSE: URBAN TEACHER PREP PROGRAM | $50,000 |
Racine Community Foundation Inc Racine, WI PURPOSE: FOR CHAMBER MUSIC | $49,550 |
Endowment Analysis
| Beg. Balance | $124,578,458 |
| Earnings | $42,314,392 |
| Net Contributions | $1,319,378 |
| Grants | $3,901,109 |
| Ending Balance | $164,311,119 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Depaul University Chicago, IL | $1,757,707,866 | $903,291,560 |
Loyola University Of Chicago Chicago, IL | $2,523,912,579 | $813,555,821 |
Marquette University Milwaukee, WI | $1,675,810,000 | $679,500,550 |
University Of St Thomas St Paul, MN | $1,542,547,921 | $470,760,335 |
Illinois Institute Of Technology Chicago, IL | $730,458,628 | $396,565,185 |
Drake University Des Moines, IA | $538,166,489 | $252,974,293 |
Bradley University Peoria, IL | $712,945,458 | $238,646,085 |
Calvin University Grand Rapids, MI | $488,669,511 | $185,893,983 |
Roosevelt University Chicago, IL | $461,911,353 | $160,424,797 |
University Of Detroit Mercy Detroit, MI | $289,746,215 | $171,830,708 |
Aurora University Aurora, IL | $221,966,879 | $150,735,428 |
Olivet Nazarene University Bourbonnais, IL | $243,527,041 | $142,248,844 |