Drake University
90% goes to programs $9 to raise $100 Strong reserves
Drake University is a 501(c)(3) organization based in Des Moines, Iowa, registered in 1950, with $256,277,389 in FY2024 revenue. CharityIndex grades it A, and it directs about 90% of spending to programs.
2507 University Ave, Des Moines, IA, 50311 EIN 42-0680460 Since 1950
Revenue (FY2024)
$256.3M
▼ 2.6% vs prior year
Education median: $200K
Expenses (FY2024)
$246.3M
Net assets
$549.4M
Employees
2,821
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating90% to programs · $9 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 Drake University: 90% to programs · $9 to raise $100 earns a A on this criterion. See the exact thresholds →
AFinancial health25% of the rating27 mo reserves · +4% 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 Drake University: 27 mo reserves · +4% 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 Drake University: 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 Drake University: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
See schedule o.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.
Contact & location
- Address
- 2507 University Ave, Des Moines, IA, 50311
- City
- Des Moines
- State
- Iowa
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $196.9M (FY2013) to $256.3M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $78.9MNet assets $549.4M
Operating margin
3.9%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$628.3M
Total liabilities
$78.9M
Net assets
$549.4M
Salaries & benefits
$96.8M
39% of expenses
Board members
31
30 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $256,277,389▼2.6% | $246,295,918▼1.7% | $549,404,684▲5.4% | $628,340,806▲3.4% | 990 |
| 2023 | $263,054,627▲1.5% | $250,461,044▲1.7% | $521,451,982▲9.2% | $607,488,087▲6.9% | 990 |
| 2022 | $259,104,983▲2.4% | $246,344,127▲3.5% | $477,607,656▲7.6% | $568,210,282▲5.6% | 990 |
| 2021 | $252,974,293▲3.1% | $237,997,226▲9.2% | $443,877,485▼4.4% | $538,166,489▼6.0% | 990 |
| 2020 | $245,392,452▲10.4% | $217,987,751▼1.4% | $464,119,747▲18.7% | $572,606,645▲13.1% | 990 |
| 2019 | $222,285,025▼3.8% | $221,046,779▲0.9% | $390,870,514▼0.5% | $506,477,281▼0.5% | 990 |
| 2018 | $231,025,109▲0.1% | $219,093,450▲3.1% | $392,704,281▲3.6% | $508,907,328▲1.7% | 990 |
| 2017 | $230,909,154▲8.4% | $212,574,693▲4.6% | $378,908,545▲2.5% | $500,363,401▲3.2% | 990 |
| 2016 | $212,980,767▲2.6% | $203,286,802▲2.8% | $369,675,179▲8.1% | $485,043,518▲5.1% | 990 |
| 2015 | $207,615,854▼7.6% | $197,674,339▲2.2% | $342,067,436▼0.4% | $461,718,210▲5.0% | 990 |
| 2014 | $224,622,628▲14.1% | $193,457,873▲2.9% | $343,296,129▲5.6% | $439,802,631▲3.6% | 990 |
| 2013 | $196,892,372 | $188,041,306▲4.4% | $325,045,402▲10.2% | $424,476,139▲4.9% | 990 |
| 2012 | — | $180,121,627▲2.7% | $294,859,641▲9.2% | $404,636,945▲5.1% | 990 |
| 2011 | — | $175,364,082▲2.0% | $269,979,327▼1.8% | $384,972,409▼0.3% | 990 |
| 2010 | — | $171,918,345 | $275,032,053 | $386,039,289 | 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: Earl Martin — $655,175 (0.27% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Earl Martin | President | 40 | $655,175 |
| Benjamin Mccollum | Head Men's Basketball Coach | 40 | $489,243 |
| Darian Devries | Former Men's B-ball Coach (4/30/24) | 40 | $369,080 |
| Allison Pohlman | Head Women's Basketball Coach | 40 | $281,364 |
| Brian Hardin | Director of Athletics | 40 | $256,175 |
| Jerry Anderson | Professor of Law | 40 | $246,906 |
| Sue Mattison | Provost | 40 | $244,267 |
| John Smith | Vice President Inst. Advancement | 40 | $228,384 |
| Adam Voigts | Cfo and Treasurer | 40 | $211,664 |
| Venessa Kuhlmann-macro | Chief Administration Officer | 40 | $195,907 |
| Amy Ohde | Trustee | 1 | — |
| Cynthia Lesher | Trustee and Vice Chair | 1 | — |
| David Golder | Trustee | 1 | — |
| Douglas Lang | Trustee | 1 | — |
| Esfand Dinshaw | Trustee (started 10/1/24) | 1 | — |
| Greg Johansen | Trustee | 1 | — |
| Ike Vanden Eykel | Trustee (thru 1/1/2025) | 1 | — |
| Jeff Russell | Trustee (started 10/1/24) | 1 | — |
| Jim Wallace | Trustee | 1 | — |
| Joe Aiello | Trustee | 1 | — |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Story Construction | Construction Services | $10,036,342 |
| Sodexo Inc and Affiliates | Food Services | $5,814,751 |
| Des Moines Independent Community School | Head Start Program | $2,864,651 |
| Waldinger Corporation | Construction Services | $1,387,593 |
| Carnegie Darlet LLC | Student Recruitment Services | $996,832 |
Grants received · $25.2M total
872 grants to Drake University totaling $25.2M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| American Endowment Foundation | Educational | 2024 | $405,000 |
| Community Fdn of Greater Des Moines | Other: knapp center | 2024 | $300,000 |
| Community Fdn of Greater Des Moines | Grant distribution-practitioner in residence | 2024 | $250,000 |
| Community Fdn of Greater Des Moines | Grant distribution for drake law school | 2024 | $160,433 |
| Community Fdn of Greater Des Moines | Moorehouse hall project | 2024 | $100,000 |
| Community Fdn of Greater Des Moines | Men's basketball | 2024 | $100,000 |
| Community Fdn of Greater Des Moines | Meredith hall renovation | 2024 | $100,000 |
| Community Fdn of Greater Des Moines | Drake athletics--knapp center renovation | 2024 | $100,000 |
| Greater Kansas City Community Foundation | Education | 2024 | $96,375 |
| Community Fdn of Greater Des Moines | Grant distribution for the dirk & shirley van zante scholarship | 2024 | $51,144 |
| Charities Aid Foundation America | Charitable donation | 2024 | $50,614 |
| Community Fdn of Greater Des Moines | Athletics-unrestricted | 2024 | $50,000 |
| Community Fdn of Greater Des Moines | Men's basketball designated | 2024 | $50,000 |
| Community Fdn of Greater Des Moines | Drake men's basketball excellence fund | 2024 | $50,000 |
| American Online Giving Foundation Inc | General support | 2024 | $49,750 |
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Compare Drake University
Frequently asked questions
- Is Drake University a legitimate nonprofit?
- Yes. Drake University is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 42-0680460, based in Des Moines, Iowa. Donations are tax-deductible.
- What is Drake University's EIN?
- Drake University's Employer Identification Number (EIN) is 42-0680460.
- How much revenue does Drake University report?
- Drake University reported $256,277,389 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Drake University's spending goes to programs?
- Drake University spends about 90% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Drake University have?
- CharityIndex grades Drake University A, based on program efficiency and fundraising cost.
- How much does Drake University's highest-paid employee make?
- The highest reported compensation on Drake University's latest Form 990 is $655,175, paid to Earl Martin (President).
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Data for Drake University (EIN 42-0680460) 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.