Carroll University Inc
90% goes to programs $18 to raise $100 Strong reserves
Carroll University Inc is a 501(c)(3) organization based in Waukesha, Wisconsin, registered in 1942, with $147,112,306 in FY2024 revenue. CharityIndex grades it A, and it directs about 90% of spending to programs.
100 N East Ave, Waukesha, WI, 53186 EIN 39-0806325 Since 1942
Revenue (FY2024)
$147.1M
▲ 7.0% vs prior year
Education median: $200K
Expenses (FY2024)
$144.8M
Net assets
$247.7M
Employees
2,516
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
B+Program efficiency40% of the rating90% to programs · $18 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 Carroll University Inc: 90% to programs · $18 to raise $100 earns a B+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating21 mo reserves · +2% 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 Carroll University Inc: 21 mo reserves · +2% margin earns a A 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 Carroll University Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 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 Carroll University Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Carroll university provides a superior education, rooted in its presbyterian and liberal arts heritage, and draws upon its christian tradition to prepare all students for vocational success, lifelong learning and service in a diverse and global society.
What they do
Auxiliary & student services - the university offers a broad scope of activities and programming for students. through intercultural programming, diversity initiatives, mentoring opportunities and more, our office of intercultural and diversity engagement works to challenge preconceived notions and enrich the carroll community. students live out carroll's mission of service through volunteering, mentorship programs, civic engagement and more. campus spiritual life includes weekly programs, retreats and partnerships with local faith communities that give students many options for reflection and worship. other student activities at carroll include more than 50 student organizations where students can join together to explore their interests and develop leadership skills in organizations related to academic programs, service/advocacy, diversity, student government, recreation, acting, fraternity and sorority life, acapella singing, outdoor activities and more. carroll is home to 23 ncaa division iii athletic teams (11 men's sports and 12 women's sports) and competes in the nationally-recognized college conference of illinois and wisconsin (cciw). included in auxiliary programming are 12 housing options from traditional residence halls to suite-style units and apartments and also flexible meal plans and menus are offered for all of our seven on-campus dining locations.
Institutional support - this category of programming includes the senior leadership team, marketing and communications, and all other necessary functions to lead and support the university's students and academic mission at the waukesha, wisconsin campus and other facilities made up of 1.3 million square feet of space in over 65 buildings and 160-plus acres of land. also included here is institutional advancement which is focused on fundraising and donor relations and the alumni relations department reaching out to more than 23,000 carroll alumni across all 50 states and 33 countries. all other services that support the administrative functions of the institution are included here including depreciation, depletion and amortization.
Contact & location
- Address
- 100 N East Ave, Waukesha, WI, 53186
- City
- Waukesha
- State
- Wisconsin
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $115.5M (FY2013) to $147.1M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $45.0MNet assets $247.7M
Operating margin
1.6%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$292.7M
Total liabilities
$45.0M
Net assets
$247.7M
Salaries & benefits
$48.2M
33% of expenses
Board members
24
23 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $147,112,306▲7.0% | $144,756,692 | $247,652,334▲5.0% | $292,670,600▲4.4% | 990 |
| 2023 | $137,477,502▲0.9% | $144,694,179▲1.2% | $235,756,095▲1.1% | $280,286,458▲9.2% | 990 |
| 2022 | $136,308,213▼5.6% | $142,962,234▲2.3% | $233,282,459 | $256,678,685▲3.4% | 990 |
| 2021 | $144,406,248▲2.4% | $139,775,110▲3.3% | $233,340,199▼5.1% | $248,345,295▼5.2% | 990 |
| 2020 | $140,965,442▲0.6% | $135,342,596▲5.7% | $245,894,069▲11.1% | $261,882,162▲9.5% | 990 |
| 2019 | $140,144,784▲5.4% | $128,005,240▲5.6% | $221,241,265▲1.4% | $239,139,783▲1.2% | 990 |
| 2018 | $132,903,662▲5.8% | $121,176,159▲4.2% | $218,291,502▲6.3% | $236,187,874▲4.3% | 990 |
| 2017 | $125,665,385▲0.6% | $116,316,636▲2.9% | $205,308,815▲4.6% | $226,392,658▲4.4% | 990 |
| 2016 | $124,929,563▲3.7% | $113,057,184▲6.9% | $196,322,196▲9.3% | $216,937,171▲7.6% | 990 |
| 2015 | $120,481,598▲5.3% | $105,715,183▲4.9% | $179,601,167▲8.6% | $201,707,511▲8.1% | 990 |
| 2014 | $114,416,532▼0.9% | $100,754,110▲1.6% | $165,400,547▲6.9% | $186,507,637▲5.4% | 990 |
| 2013 | $115,510,573 | $99,182,425▲5.6% | $154,796,638▲11.1% | $176,911,844▲10.3% | 990 |
| 2012 | — | $93,966,240▲5.8% | $139,295,057▲11.5% | $160,393,389▲9.2% | 990 |
| 2011 | — | $88,805,270▲9.9% | $124,946,703▲14.5% | $146,910,067▲11.4% | 990 |
| 2010 | — | $80,810,649 | $109,095,031 | $131,846,381 | 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 (FY2024)
Highest-paid: Cindy Gnadinger — $556,450 (0.38% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Cindy Gnadinger | President | 40 | $556,450 |
| Victoria Dowling | Vp For Institutional Advancement | 40 | $237,019 |
| Mark Blegen | Prvst/vp Acad Affair (end 6/2025) | 40 | $235,359 |
| Paul Zinck | Vp Finance/adminis (end 12/2024) | 40 | $233,737 |
| Catherine Jorgens | University Counsel | 40 | $203,786 |
| Mohammed Bey | Vp For Cummunity Culture | 40 | $169,429 |
| Thomas Pahnke Dean of | College of Health Sciences | 40 | $164,738 |
| Sara Deprey | Chair/professor Physical Therapy | 40 | $163,589 |
| Nate Dehne | Vp For Student Affairs | 40 | $162,992 |
| Dawn Scott | Vp For Enrollment | 40 | $158,999 |
| Kathy Kramer Dean of | School of Educ. Human Serv. | 40 | $156,604 |
| Timothy Sullivan | Dean-school of Business | 40 | $152,471 |
| Kareem Muhammad | Dean of College Arts and Sciences | 40 | $152,007 |
| Andrew Hoban | Vp For Finance | 40 | $135,897 |
| Ann Laatsch | Trustee | 1 | — |
| Bart Williams | Trustee | 1 | — |
| Blane Dexheimer | Trustee | 1 | — |
| Bob Sullivan | Trustee | 1 | — |
| David Laatsch | Trustee | 1 | — |
| Deborah Block | Trustee/chair | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Kahler Slater Inc | Architect Services | $1,350,720 |
| Dan Plautz Cleaning Service Inc | Janitorial Services | $969,340 |
| Assessment Technologies Institute LLC | Nursing and Exam Services | $442,189 |
| Premistar- Wisconsin | Mechanical, Hvac Services | $401,540 |
| Siemens Industry Inc | Health Technology Services | $345,677 |
Grants received · $3.4M total
89 grants to Carroll University Inc totaling $3.4M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Greater Milwaukee Foundation Inc | Robert g. and evarista hammond scholarship fund | 2024 | $64,152 |
| National Christian Charitable Foundation | Colleges and universities | 2024 | $29,000 |
| Charities Aid Foundation America | Charitable donation | 2024 | $23,675 |
| Raymond James Charitable Endowment Fund | General support | 2024 | $15,000 |
| American Online Giving Foundation Inc | General support | 2024 | $9,638 |
| Greater Milwaukee Foundation Inc | Robert g. and evarista hammond scholarship fund: carroll university inc | 2023 | $129,272 |
| National Philanthropic Tr | Education | 2023 | $78,500 |
| Fidelity Investments Charitable Gift Fund | For grant recipient's exempt purposes | 2023 | $28,750 |
| Donor Advised Charitable Giving | Education | 2023 | $28,450 |
| Charities Aid Foundation America | Charitable donation | 2023 | $17,358 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2023 | $16,000 |
| University of Pittsburgh | Research- subcontract | 2023 | $13,983 |
| American Online Giving Foundation Inc | General support | 2023 | $8,737 |
| National Christian Charitable Foundation | Growth | 2023 | $5,100 |
| United Way of Greater Milwaukee & Waukesha County Inc | Donor designations | 2022 | $172,000 |
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Frequently asked questions
- Is Carroll University Inc a legitimate nonprofit?
- Yes. Carroll University Inc is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 39-0806325, based in Waukesha, Wisconsin. Donations are tax-deductible.
- What is Carroll University Inc's EIN?
- Carroll University Inc's Employer Identification Number (EIN) is 39-0806325.
- How much revenue does Carroll University Inc report?
- Carroll University Inc reported $147,112,306 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Carroll University Inc's spending goes to programs?
- Carroll University Inc spends about 90% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Carroll University Inc have?
- CharityIndex grades Carroll University Inc A, based on program efficiency and fundraising cost.
- How much does Carroll University Inc's highest-paid employee make?
- The highest reported compensation on Carroll University Inc's latest Form 990 is $556,450, paid to Cindy Gnadinger (President).
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Data for Carroll University Inc (EIN 39-0806325) 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.