Carleton College
- Assets
- $1.4b
- Revenue
- $240.3m
- Investments
- $561.6m
- Employees
- 2,812
- Location
- Northfield, MN
- Founding
- 06/1938
- Data as of
- 06/2020
- EIN
- 41-0694747
Organization Overview
Carleton College is located in Northfield, MN. The organization was established in 1938. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Carleton College employed 2,812 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carleton 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 06/2020, Carleton College generated $240.3m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $199.4m during the year ending 06/2020. While expenses have increased by 2.0% 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.
Since 2015, Carleton College has awarded 112 individual grants totaling $3,562,757. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE AN EXCEPTIONAL UNDERGRADUATE LIBERAL ARTS EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CARLETON COLLEGE EXISTS TO PROVIDE AN EXCEPTIONAL LIBERAL ARTS EDUCATION FOR STUDENTS, PREPARING FOR LEADERSHIP IN THEIR COMMUNITIES, COUNTRIES AND THE WORLD (1,873 STUDENTS). A STUDENT-FACULTY RATIO OF 9:1 SUPPORTS CLASSROOM, LABORATORY, OFF-CAMPUS STUDY AND RESEARCH OPPORTUNITIES. AVERAGE CLASS SIZE IS 16. HISTORICALLY 66%-75% OF GRADUATES STUDY OFF-CAMPUS, DOMESTICALLY OR INTERTNATIONALLY. STUDENT FINANCIAL AID PROGRAMS - CARLETON MEETS 100% OF THE DEMONSTRATED FINANCIAL NEED OF ALL ADMITTED STUDENTS (1,662 STUDENTS).
ACADEMIC SUPPORT - PROGRAMS TO ENHANCE THE CARLETON LIBERAL ARTS EXPERIENCE WITH LIBRARY AND INFORMATION TECHNOLOGY RESOURCES (1,873 STUDENTS).
AUXILIARY ENTERPRISES - CARLETON COLLEGE MAINTAINS A RURAL RESIDENTIAL CAMPUS TO ENHANCE THE EDUCATIONAL EXPERIENCE OF THE STUDENT BODY WITH ROOM AND BOARD PROGRAMS DESIGNED TO ENCOURAGE A SPIRIT OF COLLEGIALITY AND CONVERSATION BEYOND THE CLASSROOM AND LABORATORY (1,454 STUDENTS).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelsey Deshler Chief Investment Officer | 60 | $524,127 | |
Steven G Poskanzer President | OfficerTrustee | 60 | $490,860 |
Timothy Griffeth Director Of Investments | 60 | $362,832 | |
Frederick A Rogers Former VP And Treasurer | 60 | $345,305 | |
Thomas Bonner VP For External Relations | Officer | 60 | $343,358 |
Beverly Nagel Dean Of The College | Officer | 60 | $320,902 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcgough Construction Co General Contractor | 6/29/21 | $18,551,552 |
Bon Appetit Dining Services | 6/29/21 | $6,711,519 |
Terra Generalcontractors Llc General Contractor | 6/29/21 | $2,772,822 |
Je Dunn Construction Co General Contractor | 6/29/21 | $2,066,120 |
Homeland Health Specialists Covid Surveillance Testing | 6/29/21 | $974,759 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $51,715,968 |
| Investment income | $16,474,856 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $74,396 |
| Net Rental Income | -$186,494 |
| Net Gain/Loss on Asset Sales | $35,799,108 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $240,267,870 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $47,177,552 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,700,830 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $62,971,668 |
| Pension plan accruals and contributions | $5,967,799 |
| Other employee benefits | $11,418,805 |
| Payroll taxes | $4,508,299 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $151,848 |
| Fees for services: Accounting | $93,946 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,400,731 |
| Fees for services: Other | $2,536,025 |
| Advertising and promotion | $59,164 |
| Office expenses | $7,344,889 |
| Information technology | $1,787,913 |
| Royalties | $0 |
| Occupancy | $4,743,279 |
| Travel | $7,132,494 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $889,542 |
| Interest | $5,544,386 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $12,323,937 |
| Insurance | $995,456 |
| All other expenses | $0 |
| Total functional expenses | $199,426,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $105,562,653 |
| Pledges and grants receivable | $17,581,350 |
| Accounts receivable, net | $2,174,721 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $542,756 |
| Prepaid expenses and deferred charges | $1,638,343 |
| Investments—publicly traded securities | $370,875,027 |
| Investments—other securities | $561,569,280 |
| Investments—program-related | $3,880,582 |
| Intangible assets | $0 |
| Other assets | $12,662,269 |
| Total assets | $1,414,260,160 |
| Accounts payable and accrued expenses | $19,860,279 |
| Grants payable | $0 |
| Deferred revenue | $6,616,978 |
| Tax-exempt bond liabilities | $128,569,517 |
| Escrow or custodial account liability | $2,206,259 |
| 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 | $23,209,057 |
| Total liabilities | $180,462,090 |
| 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 | $1,233,798,070 |
Grants Awarded
Over the last fiscal year, Carleton College has awarded $153,345 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF NORTHFIELD PURPOSE: COMMUNITY ENGAGEMENT | $80,000 |
La Jolla, CA PURPOSE: DEVELOPMENT OF NOVEL AUGMENTED REALITY TOOL FOR TEACHING MOLECULAR VISUALIZATION IN BIOCHEMISTRY | $62,071 |
Claremont, CA PURPOSE: DEVELOPMENT OF NOVEL AUGMENTED REALITY TOOL FOR TEACHING MOLECULAR VISUALIZATION IN BIOCHEMISTRY | $5,700 |
Williamstown, MA PURPOSE: ONLINE MODULES FOR QUANTITIVE SKILL BUILDINGS: EXPLORING, ADAPTION, AND ADOPTION | $5,574 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Carleton College has recieved totaling $84,612.
| Awarding Organization | Amount |
|---|---|
Annexstad Family Foundation Mound, MN PURPOSE: SCHOLARSHIP | $30,167 |
Tua Janet B Northup Charitable Dallas, TX PURPOSE: RICHARD C & JANET E NORTHUP | $24,100 |
Anonymous Trust Raleigh, NC PURPOSE: SCHOLARSHIP ISAIAH HARRIS | $15,000 |
Canmann Family Foundation Winnetka, IL PURPOSE: CHARITABLE | $14,695 |
W James And Jane K Truettner Foundation Crested Butte, CO PURPOSE: EDUCATIONAL | $500 |
Swagelok Foundation Solon, OH PURPOSE: TO FURTHER THE ORGANIZATION'S TAX EXEMPT PURPOSE | $150 |
Endowment Analysis
| Beg. Balance | $877,276,225 |
| Earnings | $290,531,660 |
| Admin Expense | $8,436,171 |
| Net Contributions | $63,397,175 |
| Other Expense | $32,615,343 |
| Grants | $12,562,398 |
| Ending Balance | $1,177,591,148 |
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 |