Knox College
- Assets
- $294.3m
- Revenue
- $90.4m
- Investments
- $0.0
- Employees
- 1,221
- Location
- Galesburg, IL
- Founding
- 10/1935
- Data as of
- 06/2021
- EIN
- 37-0673513
Organization Overview
Knox College is located in Galesburg, IL. The organization was established in 1935. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2022, Knox College employed 1,221 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Knox 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, Knox College generated $90.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $82.9m during the year ending 06/2021. 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
TO PROVIDE A LIBERAL ARTS EDUCATION TO STUDENTS FROM DIVERSE BACKGROUNDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HIGHER EDUCATION: OUR MISSION IS CARRIED OUT THROUGH OUR CURRICULUM, THE CHARACTER OF OUR LEARNING ENVIRONMENT, OUR RESIDENTIAL CAMPUS CULTURE, AND OUR COMMUNITY. KNOX COLLEGE HAS A TRADITION OF FREE INQUIRY, INDEPENDENT THOUGHT, AND DIVERSE PERSPECTIVES. OUR STUDENTS CHOOSE THEIR OWN PATH TOWARDS A DEGREE, GUIDED BY SCHOLAR TEACHERS WHO ENCOURAGE THEM TO EXPLORE IDEAS AND PLACES, STRETCH THEIR INTELLECT AND THEIR TALENTS, BLEND THOUGHT WITH ACTION, AND FUSE IMAGINATION WITH INITIATIVE. FOUNDED IN 1837 BY SOCIAL REFORMERS STRONGLY OPPOSED TO SLAVERY, KNOX WAS ONE OF THE FIRST COLLEGES IN THE UNITED STATES OPEN TO BOTH WOMEN AND PEOPLE OF COLOR. IT WAS ON OUR CAMPUS THAT ABRAHAM LINCOLN CHOSE TO DENOUNCE SLAVERY ON MORAL TERMS FOR THE FIRST TIME, DURING THE 1858 LINCOLN-DOUGLAS DEBATE. WITH A CAMPUS POPULATION THAT INCLUDES STUDENTS FROM 48 STATES AND 51 COUNTRIES, 25% U.S STUDENTS OF COLOR, AND INDIVIDUALS FROM EVERY IMAGINABLE RELIGIOUS AND SOCIOECONOMIC BACKGROUND. MEMBERS OF THE KNOX COMMUNITY ARE ACTIVELY CHALLENGED TO BROADEN THEIR POINTS OF VIEW. KNOX COLLEGE IS A COLLEGE THAT CHANGES LIVES (1,140 STUDENTS).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr C Andrew Mcgadney B 721 President And Ex Officio Trustee | OfficerTrustee | 55 | $230,668 |
Paul Eisenmenger E 1722 VP Of Finance And Admin | Officer | 40 | $189,691 |
Dr Teresa L Amott End 63021 Former President | 55 | $210,288 | |
Michael Schneider Provost And Dean Of The College | Officer | 40 | $195,116 |
Beverly Holmes End 33022 VP For Advancement | Officer | 40 | $159,943 |
Paul Steenis VP For Enrollment | Officer | 40 | $147,662 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bon Appetit Dining Management | 6/29/22 | $2,982,624 |
Amalgamated Bank Of Chicago Financial Institution | 6/29/22 | $522,453 |
Fieldturf Usa Inc Athletics | 6/29/22 | $480,832 |
Pj Hoerrr Inc Contractor/construction | 6/29/22 | $383,963 |
Ies Contractor/engineering | 6/29/22 | $330,482 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,332,020 |
| Investment income | $5,293,033 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $7,068,330 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $90,404,751 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $36,908,620 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,753,524 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $19,780,786 |
| Pension plan accruals and contributions | $68,126 |
| Other employee benefits | $3,398,484 |
| Payroll taxes | $1,425,510 |
| Fees for services: Management | $165,732 |
| Fees for services: Legal | $170,912 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,151,630 |
| Advertising and promotion | $137,083 |
| Office expenses | $5,289,332 |
| Information technology | $86,682 |
| Royalties | $0 |
| Occupancy | $1,555,217 |
| Travel | $399,890 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,488,003 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,501,902 |
| Insurance | $575,875 |
| All other expenses | $0 |
| Total functional expenses | $82,885,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,102,203 |
| Savings and temporary cash investments | $640,803 |
| Pledges and grants receivable | $1,643,398 |
| Accounts receivable, net | $1,323,903 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $141,862 |
| Prepaid expenses and deferred charges | $835,495 |
| Investments—publicly traded securities | $191,356,548 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,686,455 |
| Total assets | $294,322,347 |
| Accounts payable and accrued expenses | $3,771,042 |
| Grants payable | $0 |
| Deferred revenue | $443,570 |
| Tax-exempt bond liabilities | $35,258,033 |
| 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 | $0 |
| Other liabilities | $10,799,860 |
| Total liabilities | $50,272,505 |
| 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 | $244,049,842 |