Drake University
- Assets
- $506.5m
- Revenue
- $222.3m
- Investments
- $98.7m
- Employees
- 3,333
- Location
- Des Moines, IA
- Founding
- 07/1950
- Data as of
- 06/2020
- EIN
- 42-0680460
Organization Overview
Drake University is located in Des Moines, IA. The organization was established in 1950. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2020, Drake University employed 3,333 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Drake University generated $222.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $221.0m during the year ending 06/2020. While expenses have increased by 2.3% per year over the past 5 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
DRAKE'S MISSION IS TO PROVIDE AN EXCEPTIONAL LEARNING ENVIRONMENT THAT PREPARES STUDENTS FOR MEANINGFUL PERSONAL LIVES, PROFESSIONAL ACCOMPLISHMENTS, AND RESPONSIBLE GLOBAL CITIZENSHIP. THE DRAKE EXPERIENCE IS DISTINGUISHED BY COLLABORATIVE LEARNING AMONG STUDENTS, FACULTY, AND STAFF AND BY THE INTEGRATION OF THE LIBERAL ARTS AND SCIENCES WITH PROFESSIONAL PREPARATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DRAKE UNIVERSITY IS A NATIONAL COEDUCATIONAL, INDEPENDENT AND PRIVATE UNIVERSITY WITH APPROXIMATELY 5,000 STUDENTS. DRAKE IS ACCREDITED BY THE HIGHER LEARNING COMMISSION OF THE NORTH CENTRAL ASSOCIATION OF SCHOOLS AND COLLEGES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darian Devries Head Coach - Men's Basketball | 40 | $465,775 | |
Earl Martin President | OfficerTrustee | 40 | $430,884 |
Jennie Baranczyk Head Coach - Women's Basketball | 40 | $417,399 | |
Allan Vestal Professor Of Law | 40 | $270,050 | |
Jerry Anderson Dean Of Law School | 40 | $252,130 | |
Brian Hardin Director Of Athletics | 40 | $238,584 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sodexo Inc And Affiliates Food Service | 6/29/20 | $6,219,532 |
The Weitz Company Llc Construction Projects | 6/29/20 | $4,014,596 |
Des Moines Independent Community School Head Start Program | 6/29/20 | $2,005,446 |
Story Construction Construction Projects | 6/29/20 | $838,595 |
Bergstrom Construction Construction Projects | 6/29/20 | $773,087 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $265,664 |
| Related organizations | $0 |
| Government grants | $13,248,116 |
| All other contributions, gifts, grants, and similar amounts not included above | $21,802,182 |
| Noncash contributions included in lines 1a–1f | $1,046,123 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,315,962 |
| Total Program Service Revenue | $179,100,000 |
| Investment income | $2,201,057 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $657,936 |
| Net Rental Income | $382,180 |
| Net Gain/Loss on Asset Sales | $982,176 |
| Net Income from Fundraising Events | $52,356 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $222,285,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $72,589,959 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,842,793 |
| Compensation of current officers, directors, key employees. | $1,242,200 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $70,824,677 |
| Pension plan accruals and contributions | $4,951,392 |
| Other employee benefits | $12,867,049 |
| Payroll taxes | $5,110,016 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $327,435 |
| Fees for services: Accounting | $204,635 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $251,788 |
| Fees for services: Investment Management | $659,576 |
| Fees for services: Other | $5,571,256 |
| Advertising and promotion | $584,592 |
| Office expenses | $755,435 |
| Information technology | $132,793 |
| Royalties | $0 |
| Occupancy | $3,205,559 |
| Travel | $3,455,375 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,154,036 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,998,173 |
| Insurance | $895,390 |
| All other expenses | $8,306,682 |
| Total functional expenses | $221,046,779 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,755,401 |
| Savings and temporary cash investments | $7,778,396 |
| Pledges and grants receivable | $17,426,632 |
| Accounts receivable, net | $5,039,116 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $11,351,592 |
| Inventories for sale or use | $91,538 |
| Prepaid expenses and deferred charges | $1,998,908 |
| Net Land, buildings, and equipment | $226,408,666 |
| Investments—publicly traded securities | $112,922,738 |
| Investments—other securities | $98,704,294 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $506,477,281 |
| Accounts payable and accrued expenses | $24,752,774 |
| Grants payable | $10,201,102 |
| Deferred revenue | $10,569,866 |
| Tax-exempt bond liabilities | $54,145,002 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $7,416,435 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,521,588 |
| Total liabilities | $115,606,767 |
| Net assets without donor restrictions | $193,894,682 |
| Net assets with donor restrictions | $196,975,832 |
| 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 | $506,477,281 |
Grants Recieved
Over the last fiscal year, we have identified 42 grants that Drake University has recieved totaling $896,428.
| Awarding Organization | Amount |
|---|---|
Paul Beer Trust Under Will Las Vegas, NV PURPOSE: GENERAL SUPPORT GRANT | $357,533 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $105,561 |
Richard Morton & Ruth Bailey Root Charitable Tr Fd Urbandale, IA PURPOSE: PROMOTE EDUCATION | $72,000 |
Ernst Family Foundation Dallas, TX PURPOSE: SUPPORT FOR CAPITAL IMPROVEMENTS | $70,000 |
Iowa College Foundation Des Moines, IA PURPOSE: PROVIDE SCHOLARSHIPS | $57,895 |
Emc Insurance Foundation Des Moines, IA PURPOSE: FOR GENERAL SUPPORT OR FOR A CAPITAL FUND DRIVE OF THE RESPECTIVE ORGANIZATION | $50,000 |
Endowment Analysis
| Beg. Balance | $226,154,907 |
| Earnings | $1,930,445 |
| Admin Expense | $730,295 |
| Net Contributions | $3,343,141 |
| Other Expense | $6,256,630 |
| Grants | $4,641,400 |
| Ending Balance | $219,800,168 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Loyola University Of Chicago Chicago, IL | $2,261,152,459 | $863,455,479 |
Depaul University Chicago, IL | $1,757,707,866 | $903,291,560 |
Marquette University Milwaukee, WI | $1,675,810,000 | $679,500,550 |
Creighton University Omaha, NE | $1,393,218,653 | $563,229,770 |
University Of St Thomas St Paul, MN | $1,331,564,102 | $450,761,247 |
Illinois Institute Of Technology Chicago, IL | $667,676,047 | $410,466,852 |
Bradley University Peoria, IL | $712,945,458 | $238,646,085 |
Drake University Des Moines, IA | $506,477,281 | $222,285,025 |
Webster University St Louis, MO | $393,134,797 | $161,315,329 |
Lindenwood College St Charles, MO | $442,236,277 | $153,756,093 |
Maryville University Of St Louis St Louis, MO | $276,968,423 | $159,674,655 |
Roosevelt University Chicago, IL | $451,950,632 | $144,317,728 |