Coe College
- Assets
- $182.6m
- Revenue
- $91.2m
- Investments
- $7.1m
- Employees
- 1,321
- Location
- Cedar Rapids, IA
- Founding
- 08/2013
- Data as of
- 06/2022
- EIN
- 42-0686467
Organization Overview
Coe College is located in Cedar Rapids, IA. The organization was established in 2013. 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, Coe College employed 1,321 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Coe 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 06/2022, Coe College generated $91.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $89.7m during the year ending 06/2022. While expenses have increased by 3.4% 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
COE COLLEGE IS A PRIVATE, FOUR-YEAR CO-EDUCATIONAL LIBERAL ARTS COLLEGE
Describe the Organization's Program Activity:
EDUCATIONAL - COE COLLEGE IS A SELECTIVE, PRIVATE AND NATIONALLY RECOGNIZED FOUR-YEAR COEDUCATIONAL LIBERAL ARTS INSTITUTION, PROVIDING SUPERIOR EDUCATIONAL EXPERIENCES FOR STUDENTS SINCE 1851. TO EACH OF ITS MORE THAN 1,400 STUDENTS, THE INSTITUTION OFFERS THE ADVANTAGES OF A SMALL COLLEGE THAT IS DEDICATED TO ACADEMIC EXCELLENCE. STUDENT-FACULTY RATIOS ARE LOW AT 11 TO 1, THE AVERAGE CLASS SIZE IS 16, AND 95% OF FULL-TIME FACULTY MEMBERS HAVE EARNED THE HIGHEST DEGREE IN THEIR RESPECTIVE FIELDS. STUDENTS CAN THUS RECEIVE A LEVEL OF PERSONALIZED ATTENTION THAT HAS ALMOST DISAPPEARED ELSEWHERE IN MODERN ACADEMIA. THE CAMPUS PRESENTS AN INVITING ENVIRONMENT TO STUDENTS BOTH INSIDE AND OUTSIDE THE CLASSROOM, OFFERING A VARIETY OF OPPORTUNITIES FOR GROWTH AND PERSONAL ENRICHMENT IN THE MANY INTELLECTUAL, ATHLETIC AND SERVICE PURSUITS AVAILABLE. COE IS RECOGNIZED AS ONE OF THE FINEST LIBERAL ARTS COLLEGES IN THE COUNTRY BY A VARIETY OF WIDELY RESPECTED COLLEGE RANKING PUBLICATIONS THAT WEIGH ACADEMIC QUALITY AND STUDENT SELECTIVITY. COE COLLEGE ENJOYS BOTH AN EXCELLENT REGIONAL REPUTATION AND NATIONAL RECOGNITION FOR THE STRENGTH OF ITS PROGRAMS. THROUGH CAREFUL PLANNING, SELECTIVE USE OF RESOURCES, AND THE EFFORTS OF A DEDICATED FACULTY AND STAFF, COE HAS NOT ONLY MAINTAINED BUT STRENGTHENED ITS POSITION AMONG LIBERAL ARTS COLLEGES IN THE MIDWEST.
AUXILIARY ENTERPRISES - THIS INCLUDES THE COLLEGE'S RESIDENCE HALLS, COLLEGE RENTAL HOUSING, FOOD SERVICES, THE STUDENT UNION AND SUMMER CONFERENCES. WITH MORE THAN 1,200 STUDENTS IN CAMPUS HOUSING, RESIDENTIAL LIFE IS CENTRAL TO THE COE EXPERIENCE FOR STUDENTS. THE COLLEGE ALSO SERVES AS A RESOURCE TO THE SURROUNDING COMMUNITY THROUGHOUT THE YEAR BY HOSTING YOUTH CLUBS AND ACTIVITIES AND DERIVES SOME REVENUE FROM HOSTING SUMMER CONFERENCES IN ITS FACILITIES.
PROGRAM SERVICES - THIS INCLUDES EXPENDITURES FOR THE OPERATION AND MAINTENANCE OF COLLEGE FACILITIES. WITH 38 BUILDINGS ON MORE THAN 60 ACRES, MAINTENANCE OF COLLEGE FACILITIES IS AN IMPORTANT CONSIDERATION FOR THE COLLEGE. SIGNIFICANT CAMPUS IMPROVEMENTS OVER THE PAST TWO DECADES HAVE BEEN COMPLETED SO THAT STUDENTS AND FACULTY MAY ENJOY AN ENVIRONMENT CONDUCIVE TO LEARNING, WITH THE FACILITIES TO SUPPORT THE MISSION OF THE COLLEGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Hayes President | OfficerTrustee | 40 | $296,633 |
David Mcinally Chancellor (until 6/22) | OfficerTrustee | 40 | $283,572 |
Michael White Former Executive Vice President | 0 | $181,444 | |
Paula O'loughlin Provost & Faculty Dean (until 6/22) | Officer | 40 | $173,310 |
Julie Staker VP For Enrollment, Mktg & Inst. | Officer | 40 | $167,895 |
Larry Lee VP For Finance & Admin (until 6/22) | Officer | 40 | $155,586 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc Food Service | 6/29/22 | $2,571,485 |
Build To Suit Contractor | 6/29/22 | $1,029,405 |
Advance Builders Roof Repair | 6/29/22 | $494,257 |
Renner Sports Resurface Tennis Courts | 6/29/22 | $459,997 |
Cedar Graphics Inc Printing Services | 6/29/22 | $340,884 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $18,640 |
| Related organizations | $290,560 |
| Government grants | $5,194,713 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,333,781 |
| Noncash contributions included in lines 1a–1f | $579,564 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,837,694 |
| Total Program Service Revenue | $75,849,436 |
| Investment income | $1,823,158 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,656,383 |
| Net Income from Fundraising Events | $9,313 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $91,175,984 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $44,527,152 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,827,285 |
| Compensation of current officers, directors, key employees. | $1,750,682 |
| Compensation to disqualified persons | $114,341 |
| Other salaries and wages | $14,100,196 |
| Pension plan accruals and contributions | $902,369 |
| Other employee benefits | $3,609,770 |
| Payroll taxes | $1,399,985 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $99,683 |
| Fees for services: Accounting | $127,221 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $225,193 |
| Fees for services: Other | $915,841 |
| Advertising and promotion | $80,443 |
| Office expenses | $2,236,146 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,380,477 |
| Travel | $585,596 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $904,544 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,137,442 |
| Insurance | $216,285 |
| All other expenses | $607,695 |
| Total functional expenses | $89,682,818 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,282,361 |
| Pledges and grants receivable | $1,863,582 |
| Accounts receivable, net | $2,662,361 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $914,405 |
| Net Land, buildings, and equipment | $70,675,096 |
| Investments—publicly traded securities | $59,728,633 |
| Investments—other securities | $7,126,849 |
| Investments—program-related | $4,119,032 |
| Intangible assets | $0 |
| Other assets | $28,192,457 |
| Total assets | $182,564,776 |
| Accounts payable and accrued expenses | $3,957,140 |
| Grants payable | $0 |
| Deferred revenue | $314,925 |
| Tax-exempt bond liabilities | $27,702,055 |
| 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 | $9,304,921 |
| Total liabilities | $41,279,041 |
| Net assets without donor restrictions | $44,051,625 |
| Net assets with donor restrictions | $97,234,110 |
| 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 | $182,564,776 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Coe College has recieved totaling $55,002.
| Awarding Organization | Amount |
|---|---|
Tuw Robert L & Ruth E Wiese Dallas, TX PURPOSE: ROBERT L. AND RUTH E. WIESE | $41,302 |
Eisele Family Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $10,000 |
Mount Saint Clare Education Charitable Trust Clinton, IA PURPOSE: SCHOLARSHIPS | $3,000 |
Eisele Family Foundation Wilmington, DE PURPOSE: 2022 FL BOARD MEETING | $700 |
Endowment Analysis
| Beg. Balance | $102,626,239 |
| Earnings | -$12,900,971 |
| Net Contributions | $1,792,542 |
| Other Expense | $2,930,377 |
| Grants | $1,686,625 |
| Ending Balance | $86,900,808 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Columbia College Chicago Chicago, IL | $667,072,943 | $221,332,415 |
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 |
Wheaton College Wheaton, IL | $1,105,725,018 | $280,776,360 |
Gustavus Adolphus College Saint Peter, MN | $555,228,341 | $183,510,862 |
Augustana College Rock Island, IL | $426,442,517 | $147,587,977 |
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 |