Carthage College
- Assets
- $408.8m
- Revenue
- $125.2m
- Investments
- $797.5k
- Employees
- 2,315
- 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 06/2022, Carthage College employed 2,315 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 7 years, revenues have fallen by an average of (0.8%) 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 (1.8%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 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:
Part 3 - Line 4a
INSTRUCTION: CARTHAGE COLLEGE AWARDS THE BACHELOR OF ARTS DEGREES WITH MAJORS IN MORE THAN 50 SUBJECT AREAS AND 6 MASTER DEGREES. THE 2021-2022 ACADEMIC YEAR ENROLLMENT WAS 2,666 FULL TIME EQUIVALENT (FTE) STUDENTS IN THE FALL SEMESTER AND 2,391 FTE STUDENTS ENROLLED IN THE SPRING SEMESTER. OF THE TOTAL NUMBER OF STUDENTS ENROLLED IN 2021-2022 ACADEMIC YEAR, 585 MET THE UNDERGRADUATE REQUIREMENTS OF GRADUATION, 42 MET THE GRADUATE REQUIREMENTS FOR THE MASTERS IN EDUCATION, 14 MET THE GRADUATE REQUIREMENTS FOR THE MASTERS IN SCIENCE AND 11 MET THE GRADUATE REQUIREMENTS FOR MASTERS IN MUSIC.
AUXILIARY ENTERPRISES AT CARTHAGE COLLEGE ARE COMPRISED OF 13 RESIDENCE HALLS ON CAMPUS, 8 DINING VENUES, AND A BOOKSTORE FOR STUDENTS, FACULTY AND STAFF. OF THE TOTAL STUDENT BODY, 64.7% OF ENROLLED STUDENTS LIVED ON-CAMPUS AND PARTICIPATED IN THE RESIDENT STUDENT BOARD PLAN. 1,726 STUDENTS RESIDED IN CAMPUS HOUSING DURING THE 2021-2022 ACADEMIC YEAR.
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey H Hamar Trustee, Chair | OfficerTrustee | 1 | $0 |
Gina Madrigrano Friebus Trustee, First Vice Chair | OfficerTrustee | 1 | $0 |
Hoyt Harper II Trustee, Second Vice Chair | OfficerTrustee | 1 | $0 |
Dennis L Monroe Trustee, Secretary | OfficerTrustee | 1 | $0 |
David C Wiers Trustee, Secretary | OfficerTrustee | 1 | $0 |
Patrick N Anderson Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Universal Protection Service Lp Security | 6/29/22 | $539,516 |
Avaap Usa Llc Erp Implementation | 6/29/22 | $1,444,373 |
Koch Kuts Kkc Landscaping | 6/29/22 | $379,162 |
Go Audio Event Services | 6/29/22 | $262,933 |
Meat On The Street Llc Food Service | 6/29/22 | $192,049 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,389,234 |
| 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 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 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 | $0 |
| 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 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $302,620,303 |
Grants Awarded
Over the last fiscal year, Carthage College has awarded $15,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED WAY OF RACINE COUNTY PURPOSE: CONTRIBUTION TO "HIGHER EXPECTATIONS" PROGRAM | $5,000 |
UNITED WAY OF KENOSHA COUNTY PURPOSE: ANNUAL CONTRIBUTION TO "BUILDING OUR FUTURE" PROGRAM | $10,000 |