St Olaf College
- Assets
- $1.1b
- Revenue
- $241.0m
- Investments
- $614.1m
- Employees
- 3,254
- 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 05/2023, St Olaf College employed 3,254 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 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $215.3m during the year ending 05/2021. While expenses have increased by 2.1% per year over the past 7 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 2022-2023 ACADEMIC YEAR, ST. OLAF COLLEGE ENROLLED 3,022 FULL TIME STUDENTS AND 24 PART TIME STUDENTS. THE GRADUATING CLASS OF 2023 HAD 709 GRADUATES. A STUDENT TO FACULTY RATIO OF 11.5:1 SUPPORTS ST. OLAF STUDENTS WITH CLASSROOM, LABORATORY, AND OFF-CAMPUS EXPERIENCES. ST. OLAF COLLEGE IS ACCREDITED AS A DEGREE-GRANTING INSTITUTION 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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Anderson President | OfficerTrustee | 40 | $521,500 |
Jay Lund Chair | OfficerTrustee | 1.7 | $0 |
Susan Gunderson Vice Chair | OfficerTrustee | 1.7 | $0 |
Paul Grangaard Treasurer | OfficerTrustee | 1.7 | $0 |
Marvin Benton Regent | Trustee | 1.7 | $0 |
Jeffrey Bolton Regent | Trustee | 1.7 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Boldt Company Construction | 5/30/23 | $32,189,540 |
Bon Appetit Management Co Inc Food Service | 5/30/23 | $9,550,547 |
Dovetail Renovation Inc Construction | 5/30/23 | $3,201,027 |
Smarter Furnishings Furniture And Installation | 5/30/23 | $1,488,221 |
Drivestream Inc It Implementation Partner | 5/30/23 | $1,035,899 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $40,626,820 |
| 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 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 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 | $0 |
| 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 |
| 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 | $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 | $896,613,358 |
Grants Awarded
Over the last fiscal year, St Olaf College has awarded $39,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LUTHER SEMINARY PURPOSE: GENERAL OPERATING SUPPORT | $24,000 |
LUTHERAN CAMPUS MINISTRY NETWORK PURPOSE: GENERAL OPERATING SUPPORT | $15,000 |