Alverno College
91% goes to programs $19 to raise $100 Strong reserves Declining revenue
Alverno College is a 501(c)(3) organization based in Milwaukee, Wisconsin, registered in 1946, with $42,474,928 in FY2023 revenue. CharityIndex grades it C+, and it directs about 91% of spending to programs.
3400 S 43rd St, Milwaukee, WI, 53219 EIN 39-0806263 Since 1946
Revenue (FY2023)
$42.5M
▲ 2.2% vs prior year
Education median: $200K
Expenses (FY2023)
$53.8M
Net assets
$58.9M
Employees
844
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
C+
★★★★
Rated on 4 of 4 criteria.
Held down by its weakest criterion — a strong score on one criterion can't hide a weak one.
How the rating works →AProgram efficiency40% of the rating91% to programs · $19 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Alverno College: 91% to programs · $19 to raise $100 earns a A on this criterion. See the exact thresholds →
DFinancial health25% of the rating13 mo reserves · -27% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Alverno College: 13 mo reserves · -27% margin earns a D on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Alverno College: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Alverno College: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Alverno offers undergraduate programs for women, and adult and graduate programs for women & men.
Contact & location
- Address
- 3400 S 43rd St, Milwaukee, WI, 53219
- City
- Milwaukee
- State
- Wisconsin
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue declined from $66.2M (FY2013) to $42.5M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $22.4MNet assets $58.9M
Operating margin
-26.7%
Spent more than it raised in the latest fiscal year.
Total assets
$81.3M
Total liabilities
$22.4M
Net assets
$58.9M
Salaries & benefits
$22.7M
42% of expenses
Board members
26
26 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $42,474,928▲2.2% | $53,802,253▼2.4% | $58,926,100▼13.2% | $81,321,504▼13.4% | 990 |
| 2022 | $41,560,381▼17.2% | $55,098,893▲2.2% | $67,880,938▼12.2% | $93,867,906▼10.6% | 990 |
| 2021 | $50,194,378▼12.2% | $53,907,225▲2.3% | $77,323,637▼13.0% | $104,950,852▼9.8% | 990 |
| 2020 | $57,198,043▲18.2% | $52,681,453▲3.9% | $88,925,072▲14.6% | $116,321,822▲14.2% | 990 |
| 2019 | $48,396,806▼3.6% | $50,712,775▼2.6% | $77,597,872▼1.8% | $101,890,326▲2.3% | 990 |
| 2018 | $50,194,339▲0.5% | $52,057,858▼0.6% | $78,991,848▼1.4% | $99,613,485▼1.2% | 990 |
| 2017 | $49,967,181▼13.1% | $52,388,696▼1.5% | $80,094,037▼1.4% | $100,838,834▼2.7% | 990 |
| 2016 | $57,520,657▲7.1% | $53,171,490▼5.0% | $81,190,230▲3.7% | $103,660,379▼3.0% | 990 |
| 2015 | $53,699,207▼6.6% | $55,990,794▼1.7% | $78,318,904▼4.7% | $106,843,580▼7.4% | 990 |
| 2014 | $57,514,351▼13.2% | $56,930,830▲0.3% | $82,153,546▲0.1% | $115,335,231▲11.2% | 990 |
| 2013 | $66,236,953 | $56,744,927▲5.3% | $82,073,077▲15.3% | $103,727,337▲15.5% | 990 |
| 2012 | — | $53,869,264▼1.2% | $71,163,661▲15.8% | $89,829,351▲13.0% | 990 |
| 2011 | — | $54,533,603▼2.4% | $61,459,430▲10.2% | $79,520,396▲8.4% | 990 |
| 2010 | — | $55,900,528▲4.8% | $55,786,192▲8.5% | $73,330,358▲6.0% | 990 |
| 2009 | — | $53,324,623 | $51,422,465 | $69,186,821 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: Dawn Peterson — $164,197 (0.31% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Dawn Peterson | Cfo | 40 | $164,197 |
| Joseph Foy | Interim President (term 07/2023) | 40 | $159,169 |
| Jodi Eastberg | Interim Vp of Academic Affairs | 40 | $158,151 |
| Christy Brown | President | 40 | $143,998 |
| Laurie Kunkel-jordan | Dean,school of Nursing | 40 | $142,667 |
| Linda Shanta | Program Director Demsn Mesa | 40 | $138,700 |
| Heidi Anderson-isaacson | Vp of Student Development & Success | 40 | $119,255 |
| Desiree Pointer | Professor - Graduate Program | 40 | $118,176 |
| Mary Gilfillan | Hr Director (term 05/2023) | 40 | $115,732 |
| Justin Lamanna | Professor of Biology | 40 | $114,244 |
| Kimberly Muench | Interim Vp of Advancement | 40 | $111,024 |
| Katherine Lundeen | Vp of Enrollment & Marketing | 40 | $107,168 |
| Abigail J Nash | Board Member | 1 | — |
| Alan Murphy | Board Member | 2 | — |
| Barbara A Kluka | Board Member | 8 | — |
| Bruce Myers | Board Member | 2 | — |
| Cecelia I Gore | Board Member | 1 | — |
| Donald W Layden Jr | Board Member (through 12/2023) | 2 | — |
| Ellen Hopper | Board Member | 1 | — |
| Gina Spang | Board Member | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Synergis Education LLC | Online Program Partner | $5,173,401 |
| Ellucian Company LP | Erp Software/consulting | $3,091,418 |
| Elior Inc | Food Services | $1,189,441 |
| 4m Building Solutions LLC | Janitorial | $1,143,976 |
| Eab Global Inc | Software | $647,934 |
Grants received · $3.7M total
51 grants to Alverno College totaling $3.7M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Greater Milwaukee Foundation Inc | Columbia college of nursing legacy scholarship | 2024 | $262,972 |
| American Endowment Foundation | Educational | 2024 | $8,800 |
| Greater Milwaukee Foundation Inc | Alice c. helland scholarship :: alverno college | 2023 | $181,143 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $96,600 |
| United Way of Greater Milwaukee & Waukesha County Inc | Donor designations,linda mcferrin award | 2023 | $26,425 |
| Donor Advised Charitable Giving | Education | 2023 | $22,350 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2023 | $16,500 |
| American Endowment Foundation | Educational | 2023 | $6,500 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2022 | $157,605 |
| Greater Milwaukee Foundation Inc | The columbia college of nursing legacy scholarship | 2022 | $156,167 |
| United Way of Greater Milwaukee & Waukesha County Inc | Donor designations | 2022 | $50,913 |
| Donor Advised Charitable Giving | Education | 2022 | $29,250 |
| Vanguard Charitable Endowment Program | For recipient's exempt purpose | 2022 | $16,500 |
| Columbus Foundation | Education | 2022 | $15,000 |
| Charities Aid Foundation America | Charitable donation | 2022 | $6,300 |
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Frequently asked questions
- Is Alverno College a legitimate nonprofit?
- Yes. Alverno College is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 39-0806263, based in Milwaukee, Wisconsin. Donations are tax-deductible.
- What is Alverno College's EIN?
- Alverno College's Employer Identification Number (EIN) is 39-0806263.
- How much revenue does Alverno College report?
- Alverno College reported $42,474,928 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Alverno College's spending goes to programs?
- Alverno College spends about 91% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Alverno College have?
- CharityIndex grades Alverno College C+, based on program efficiency and fundraising cost.
- How much does Alverno College's highest-paid employee make?
- The highest reported compensation on Alverno College's latest Form 990 is $164,197, paid to Dawn Peterson (Cfo).
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Data for Alverno College (EIN 39-0806263) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.