Concordia College Corporation
- Assets
- $403.9m
- Revenue
- $127.8m
- Investments
- $46.8m
- Employees
- 2,692
- Location
- Moorhead, MN
- Founding
- 04/1988
- Data as of
- 04/2021
- EIN
- 41-0693977
Organization Overview
Concordia College Corporation is located in Moorhead, MN. The organization was established in 1988. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 04/2023, Concordia College Corporation employed 2,692 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Concordia College Corporation 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 04/2021, Concordia College Corporation generated $127.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $118.6m during the year ending 04/2021. While expenses have increased by 0.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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.CONCORDIA COLLEGE IS A FOUR-YEAR LIBERAL ARTS COLLEGE OF THE EVANGELICAL LUTHERAN CHURCH OF AMERICA OFFERING 65 MAJORS AND 12 PRE-PROFESSIONAL PROGRAMS. DURING THE 2022-2023 SCHOOL YEAR, CONCORDIA COLLEGE HAD AN ENROLLMENT OF 1,822 STUDENTS; 915 OF THESE STUDENTS WERE RESIDING IN DORMITORIES OR OTHER FORMS OF ON-CAMPUS HOUSING AND 1,114 STUDENTS PARTICIPATED IN SOME VARYING FORM OF A MEAL PLAN THROUGH THE ON-CAMPUS DINING SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONCORDIA COLLEGE OFFERS BACHELOR OF ARTS AND BACHELOR OF MUSIC DEGREES, AS WELL AS A MASTER OF EDUCATION IN WORLD LANGUAGE INSTRUCTION. THE 2022-2023 ENROLLMENT WAS 1,822 STUDENTS, 399 OF WHOM MET THE REQUIREMENTS OF GRADUATION.
PUBLIC SERVICE, ACADEMIC SUPPORT, AND STUDENT SERVICES (COMBINED)
AUXILIARY ENTERPRISES AT CONCORDIA COLLEGE ARE COMPRISED OF 12 RESIDENCE HALLS OR ON-CAMPUS APARTMENTS, A DINING HALL AS WELL AS A QUICK-SERVE RESTAURANT OPTION, SNACK SHOP AND COFFEE SHOP, A BOOKSTORE AND A DAY CAY FACILITY FOR FACULTY, STAFF AND STUDENTS. 50% OF ENROLLED STUDENTS LIVED IN ON-CAMPUS HOUSING, WHILE 64% OF THE ENROLLED STUDENT POPULATION PARTICIPATED IN ONE OF THE EIGHT MEAL PLAN OPTIONS OFFERED BY THE COLLEGE'S DINING SERVICE.
CONCORDIA COLLEGE OWNS AND OPERATES THE CONCORDIA LANGUAGE VILLAGES. THE LANGUAGE VILLAGES USE IMMERSION TECHNIQUES TO TEACH PARTICIPANTS ABOUT OTHER LANGUAGES AND CULTURES WHILE GIVING CONCORDIA STUDENTS THE OPPORTUNITY TO GAIN PRACTICAL TEACHING EXPERIENCE. THE LANGUAGE VILLAGES OFFER INSTRUCTION IN 18 DIFFERENT LANGUAGES WITH A VARIETY OF YEAR-ROUND PROGRAMS DESIGNED FOR LEARNERS OF EVERY AGE. MOST VILLAGES ARE LOCATED AT VARIOUS SITES ON TURTLE RIVER LAKE NEAR BEMIDJI, MN, AS WELL AS AT VARIOUS LEASED SITES THROUGHOUT MINNESOTA. THE VILLAGES RECENTLY ADDED VIRTUAL VILLAGES, ONLINE IMMERSION PROGRAMMING. DURING THE FISCAL YEAR 2022-2023, CONCORDIA LANGUAGE VILLAGES ENROLLED 4,210 PARTICIPANTS IN A VARIETY OF PROGRAMS OFFERED THROUGHOUT THE YEAR. ALTHOUGH THE MAJORITY OF PROGRAMMING TAKES PLACE DURING THE SUMMER, THE EXPANSION OF YEAR-ROUND LANGUAGE LEARNING THROUGH THE VILLAGES CONTINUES TO GROW.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary S Ranum Chair | OfficerTrustee | 1 | $0 |
John E Ydstie Vice Chair | OfficerTrustee | 1 | $0 |
Dr Julie A Blehm Secretary | OfficerTrustee | 1 | $0 |
Maryann Anderson Trustee | Trustee | 1 | $0 |
Troy J Butner Trustee | Trustee | 1 | $0 |
Ruth Anna Buffalo Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bergstrom Electric Inc Construction | 4/29/23 | $566,064 |
Northern Plains Mechanical Llc Construction | 4/29/23 | $1,510,188 |
Huron Consulting Services Llc Consulting | 4/29/23 | $545,075 |
Minko Construction Inc Construction | 4/29/23 | $523,070 |
Stephenson Drywall & Lathing Inc Construction | 4/29/23 | $493,521 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,205,848 |
| Investment income | $3,612,610 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $95,177 |
| Net Gain/Loss on Asset Sales | $16,254,547 |
| Net Income from Fundraising Events | $10,261 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $82,757 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $127,833,637 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $48,131,722 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $688,709 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,630,305 |
| Pension plan accruals and contributions | -$26,537 |
| Other employee benefits | $8,415,590 |
| Payroll taxes | $2,359,614 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $53,168 |
| Fees for services: Accounting | $119,790 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,250 |
| Fees for services: Investment Management | $826,350 |
| Fees for services: Other | $2,411,718 |
| Advertising and promotion | $210,416 |
| Office expenses | $2,996,641 |
| Information technology | $1,406,306 |
| Royalties | $1,250 |
| Occupancy | $2,725,055 |
| Travel | $453,217 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $82,720 |
| Interest | $1,238,099 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,393,574 |
| Insurance | $754,202 |
| All other expenses | $0 |
| Total functional expenses | $118,627,463 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $13,653,733 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,150,076 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,989,854 |
| Inventories for sale or use | $759,569 |
| Prepaid expenses and deferred charges | $1,232,133 |
| Investments—publicly traded securities | $178,672,599 |
| Investments—other securities | $46,796,932 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,601,771 |
| Total assets | $403,850,675 |
| Accounts payable and accrued expenses | $10,550,682 |
| Grants payable | $5,156,695 |
| Deferred revenue | $1,015,600 |
| Tax-exempt bond liabilities | $32,333,859 |
| Escrow or custodial account liability | $2,468,052 |
| 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 | $15,666,660 |
| Total liabilities | $67,191,548 |
| 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 | $336,659,127 |