St Olaf College
- Assets
- $1.1b
- Revenue
- $241.0m
- Investments
- $614.1m
- Employees
- 3,247
- Location
- Northfield, MN
- Founding
- 11/1934
- Data as of
- 05/2021
- EIN
- 41-0693979
Organization Overview
St Olaf College is located in Northfield, MN. The organization was established in 1934. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 05/2022, St Olaf College employed 3,247 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Olaf 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 05/2021, St Olaf College generated $241.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $215.3m during the year ending 05/2021. While expenses have increased by 2.4% 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
ST. OLAF COLLEGE CHALLENGES STUDENTS TO EXCEL IN THE LIBERAL ARTS, EXAMINE FAITH AND VALUES, AND EXPLORE MEANINGFUL VOCATION IN AN INCLUSIVE, GLOBALLY ENGAGED COMMUNITY NOURISHED BY LUTHERAN TRADITION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POSTSECONDARY EDUCATION - FOUR YEAR, RESIDENTIAL, LIBERAL ARTS EDUCATION. IN THE 2021-2022 ACADEMIC YEAR, ST. OLAF COLLEGE ENROLLED 2,964 FULL TIME STUDENTS AND 24 PART TIME STUDENTS. THE GRADUATING CLASS OF 2022 HAD 709 GRADUATES. A STUDENT TO FACULTY RATIO OF 11.8:1 SUPPORTS ST. OLAF STUDENTS WITH CLASSROOM, LABORATORY, AND OFF-CAMPUS EXPERIENCES. ST. OLAF COLLEGE IS ACCREDITED AS A DEGREE-GRANTING INSTITUITION BY THE HIGHER LEARNING COMMISSION OF THE NORTH CENTRAL ASSOCIATION OF COLLEGES AND SECONDARY SCHOOLS. THE COLLEGE'S ACADEMIC PROGRAMS ARE ALSO ACCREDITED BY THE AMERICAN CHEMICAL SOCIETY, COMMISSION ON COLLEGIATE NURSING EDUCATION, COUNCIL ON SOCIAL WORK EDUCATION, NATIONAL ASSOCIATION OF SCHOOLS OF DANCE, NATIONAL ASSOCIATION OF SCHOOLS OF MUSIC, NATIONAL ASSOCIATION OF SCHOOLS OF THEATRE, AND NATIONAL COUNCIL FOR ACCREDITATION OF TEACHER EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Anderson President | OfficerTrustee | 40 | $504,434 |
Marci Sortor Provost And Dean Of The College | Officer | 40 | $248,422 |
Carl Crosby Lehmann General Counsel | Officer | 40 | $234,013 |
Enoch Blazis VP For Advancement | Officer | 40 | $223,142 |
Janet Hanson VP And CFO | Officer | 40 | $220,065 |
Michael Kyle VP For Enrollment | Officer | 40 | $215,030 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Boldt Company Construction | 5/30/22 | $21,007,464 |
Bon Appetit Management Co Inc Food Service | 5/30/22 | $7,320,737 |
Workshop Architects Architectural Firm | 5/30/22 | $1,479,293 |
Dis Study Program (North American Office Program Fees | 5/30/22 | $873,525 |
Harrassowitz North American Library Serv Library Services | 5/30/22 | $607,023 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $6,818,613 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,808,207 |
| Noncash contributions included in lines 1a–1f | $4,364,551 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,626,820 |
| Total Program Service Revenue | $180,600,719 |
| Investment income | $11,032,774 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $323,461 |
| Net Gain/Loss on Asset Sales | $8,408,440 |
| Net Income from Fundraising Events | $2,709 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $240,994,923 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $98,569,935 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,409,834 |
| Compensation of current officers, directors, key employees. | $1,209,996 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $52,548,935 |
| Pension plan accruals and contributions | $4,463,551 |
| Other employee benefits | $6,862,319 |
| Payroll taxes | $3,569,937 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $83,499 |
| Fees for services: Accounting | $104,072 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $87,290 |
| Fees for services: Investment Management | $1,577,085 |
| Fees for services: Other | $4,463,228 |
| Advertising and promotion | $497,287 |
| Office expenses | $2,673,058 |
| Information technology | $3,102,703 |
| Royalties | $709 |
| Occupancy | $5,248,443 |
| Travel | $1,875,911 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $95,410 |
| Interest | $2,371,393 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,337,353 |
| Insurance | $961,466 |
| All other expenses | $1,855,749 |
| Total functional expenses | $215,281,780 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $233,740 |
| Savings and temporary cash investments | $35,638,767 |
| Pledges and grants receivable | $7,523,638 |
| Accounts receivable, net | $225,509 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $750,000 |
| Inventories for sale or use | $144,824 |
| Prepaid expenses and deferred charges | $1,025,290 |
| Net Land, buildings, and equipment | $242,768,430 |
| Investments—publicly traded securities | $68,008,112 |
| Investments—other securities | $614,058,330 |
| Investments—program-related | $4,374,161 |
| Intangible assets | $0 |
| Other assets | $97,439,787 |
| Total assets | $1,072,190,588 |
| Accounts payable and accrued expenses | $17,814,956 |
| Grants payable | $2,679,808 |
| Deferred revenue | $2,033,264 |
| Tax-exempt bond liabilities | $138,523,336 |
| Escrow or custodial account liability | $11,463,211 |
| 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 | $3,062,655 |
| Total liabilities | $175,577,230 |
| Net assets without donor restrictions | $411,548,422 |
| Net assets with donor restrictions | $485,064,936 |
| 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 | $1,072,190,588 |
Grants Awarded
Over the last fiscal year, St Olaf College has awarded $21,880 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Dubuque, IA PURPOSE: GENERAL OPERATING SUPPORT | $11,000 |
Boulder, CO PURPOSE: GENERAL OPERATING SUPPORT | $5,800 |
Chicago, IL PURPOSE: GENERAL OPERATING SUPPORT | $5,080 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that St Olaf College has recieved totaling $15,701.
| Awarding Organization | Amount |
|---|---|
Ir Tr Ua Dora & Arthur Johnson Dallas, TX PURPOSE: UNRESTRICTED GENERAL | $12,201 |
Everett & Doris Bernardo Family Foundation Elgin, IL PURPOSE: COLLEGE EDUCATION | $2,500 |
Daniel J & Ann L Krumm Charitable Trust Ames, IA PURPOSE: GENERAL OPERATING | $1,000 |
Endowment Analysis
| Beg. Balance | $701,716,031 |
| Earnings | -$4,737,343 |
| Admin Expense | $1,849,080 |
| Net Contributions | $18,787,159 |
| Other Expense | $9,607,355 |
| Grants | $7,633,406 |
| Ending Balance | $696,676,006 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
St Olaf College Northfield, MN | $1,072,190,588 | $240,994,923 |
Carleton College Northfield, MN | $1,414,260,160 | $240,267,870 |
Trustees Of Grinnell College Grinnell, IA | $3,450,447,819 | $273,975,826 |
Macalester College St Paul, MN | $1,183,330,680 | $186,131,359 |
Concordia University Inc Mequon, WI | $163,946,113 | $168,516,078 |
Gustavus Adolphus College Saint Peter, MN | $555,228,341 | $183,510,862 |
Bethel University St Paul, MN | $210,773,506 | $136,689,038 |
Carroll University Inc Waukesha, WI | $261,882,162 | $140,965,442 |
Augsburg University Minneapolis, MN | $220,780,212 | $133,913,998 |
Concordia College Corporation Moorhead, MN | $403,850,675 | $127,833,637 |
Luther College Decorah, IA | $330,055,480 | $125,968,312 |
College Of St Scholastica Inc Duluth, MN | $228,173,776 | $117,585,202 |