The Trustees of Grinnell College
88% goes to programs $57 to raise $100 Strong reserves Growing revenue
The Trustees of Grinnell College is a 501(c)(3) organization based in Grinnell, Iowa, registered in 1953, with $397,436,581 in FY2023 revenue. CharityIndex grades it B, and it directs about 88% of spending to programs.
733 Broad St, Grinnell, IA, 50112 EIN 42-0680387 Since 1953
Revenue (FY2023)
$397.4M
▲ 9.1% vs prior year
Education median: $200K
Expenses (FY2023)
$247.8M
Net assets
$2.9B
Employees
2,532
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B
CProgram efficiency40% of the rating88% to programs · $57 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 The Trustees of Grinnell College: 88% to programs · $57 to raise $100 earns a C on this criterion. See the exact thresholds →
B+Financial health25% of the rating141 mo reserves · +38% 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 The Trustees of Grinnell College: 141 mo reserves · +38% margin earns a B+ 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 The Trustees of Grinnell College: 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 The Trustees of Grinnell College: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
To educate students in the liberal arts through free inquiry and the open exchange of ideas.
What they do
Academic and institutional support includes library, faculty development, computer services, public relations, printing services, mail services, and other expenditures to support the activities of the college.
Student services includes registration, counseling, admission and financial aid, health services, intercollegiate athletics, lectures, convocations and other student programs.
Other program services include auxiliary enterprises such as housing and food service.
Contact & location
- Address
- 733 Broad St, Grinnell, IA, 50112
- City
- Grinnell
- State
- Iowa
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $231.8M (FY2013) to $397.4M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $277.6MNet assets $2.9B
Operating margin
37.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$3.2B
Total liabilities
$277.6M
Net assets
$2.9B
Salaries & benefits
$99.8M
40% of expenses
Board members
28
28 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $397,436,581▲9.1% | $247,771,574▲4.6% | $2,914,064,638▲6.2% | $3,191,620,072▲5.6% | 990 |
| 2022 | $364,446,425▲3.8% | $236,823,739▲11.6% | $2,744,375,731▲1.3% | $3,023,180,797▲1.2% | 990 |
| 2021 | $351,194,994▲28.2% | $212,302,506▲11.8% | $2,709,773,396▼14.0% | $2,988,511,926▼13.4% | 990 |
| 2020 | $273,975,826▲29.5% | $189,967,576▼2.5% | $3,150,322,423▲36.8% | $3,450,447,819▲36.2% | 990 |
| 2019 | $211,551,563▼20.8% | $194,924,984▲1.7% | $2,302,983,105▲1.1% | $2,534,031,984▲0.7% | 990 |
| 2018 | $267,187,903▲8.1% | $191,682,544▲9.7% | $2,278,739,876▲4.2% | $2,516,901,391▲3.2% | 990 |
| 2017 | $247,077,229▲10.9% | $174,668,946▲0.7% | $2,187,203,751▲6.7% | $2,439,522,215▲6.0% | 990 |
| 2016 | $222,840,183▲46.9% | $173,433,787▲4.3% | $2,049,264,884▲13.0% | $2,300,451,142▲18.2% | 990 |
| 2015 | $151,674,423▼44.0% | $166,271,361▲1.3% | $1,813,256,575▼6.9% | $1,945,993,437▼6.6% | 990 |
| 2014 | $270,899,874▲16.9% | $164,119,344▲4.6% | $1,947,545,771▼0.8% | $2,082,838,342▼2.0% | 990 |
| 2013 | $231,807,817 | $156,943,192▲7.2% | $1,963,776,394▲15.6% | $2,125,794,837▲14.1% | 990 |
| 2012 | — | $146,369,510▲4.5% | $1,698,648,396▲11.0% | $1,863,371,033▲9.6% | 990 |
| 2011 | — | $140,004,721▲3.6% | $1,530,882,168▼7.7% | $1,699,622,289▼6.9% | 990 |
| 2010 | — | $135,110,133▲9.2% | $1,658,286,387▲16.9% | $1,824,684,174▲14.9% | 990 |
| 2009 | — | $123,782,406 | $1,418,996,641 | $1,588,535,603 | 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: Jainen Thayer — $1,033,208 (0.42% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Jainen Thayer | Chief Investment Officer | 60 | $1,033,208 |
| Anne Harris | President | 60 | $627,118 |
| Valbona Schwab | Deputy Chief Investment Officer | 50 | $619,746 |
| Germaine Y Gross | Vp Finance & Treasurer | 60 | $409,550 |
| Lacey F Johnson | Managing Director | 50 | $401,394 |
| Beronda L Montgomery | Dean & Vp Academic Affairs | 60 | $307,129 |
| Joseph P Bagnoli | Vp Enrollment & Dean of Admission | 60 | $275,996 |
| Robert Welch | Director of Investments | 50 | $254,890 |
| Henry W Moyer | Professor of Political Science | 50 | $236,632 |
| Ellen F De Graffenreid | Vp Communication & Marketing | 60 | $229,703 |
| Nancy L Combs | Associate Vp Finance & Asst Treasurer | 50 | $217,431 |
| Myrna Y Hernandez | Chief of Staff & Vp Administration | 60 | $212,283 |
| Jana L Grimes | Vp Human Resources | 60 | $212,067 |
| Elaine M Marzluff | Professor of Chemistry | 50 | $177,651 |
| Margaret E Bair | Director of Board Relations | 50 | $109,637 |
| Angela Onwuachi-willig | Trustee | 3 | — |
| Bernard Jackson Jr | Trustee & Alumni Council President | 2 | — |
| Bruce Koff | Trustee | 2 | — |
| Christina R Cutlip | Trustee & Vice-chair | 4 | — |
| Connie Wimer | Trustee | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Opn Inc | Architecture | $2,033,683 |
| The Weitz Company | Construction | $1,114,406 |
| Eagle Capital | Investment Manager | $1,005,989 |
| Summit Street Capital Management LLC | Investment Manager | $590,833 |
| Nyemaster Goode PC | Attorney | $532,373 |
Grants received · $7.8M total
140 grants to The Trustees of Grinnell College totaling $7.8M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2024 | $60,000 |
| American Endowment Foundation | Educational | 2024 | $59,500 |
| American Online Giving Foundation Inc | General support | 2024 | $57,294 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $25,000 |
| Greater Kansas City Community Foundation | Education | 2024 | $18,750 |
| Charities Aid Foundation America | Charitable donation | 2024 | $14,585 |
| T Rowe Price Program For Charitable Giving Inc | Multiple | 2024 | $14,000 |
| Community Fdn of Greater Des Moines | Grant distribution | 2024 | $12,649 |
| American Gift Fund | Operations | 2024 | $10,000 |
| Tulsa Community Foundation | General operations | 2024 | $8,000 |
| The Blackbaud Giving Fund | General support | 2024 | $7,570 |
| Mile High United Way Inc | Desig | 2024 | $7,333 |
| Mile High United Way Inc | Desig | 2024 | $7,333 |
| The Us Charitable Gift Trust | For recipient's exempt purpose | 2024 | $5,200 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $5,000 |
Grants made · $161K in FY2023
10 grants totaling $161K in FY2023. All grants made by The Trustees of Grinnell College →
| Recipient | Purpose | Amount |
|---|---|---|
| Ahrens Park Foundation | General support | $35,000 |
| Grinnell School of Music | General support | $29,680 |
| Grinnell Regional Medical Center | General support | $25,000 |
| City of Grinnell | General support | $24,025 |
| Link Inc | General support | $10,884 |
| Chamber of Commerce of Grinnell | General support | $8,384 |
| Grinnell-newburg Community School | General support | $8,090 |
| Grinnell Volunteer Firefighters Association | General support | $7,315 |
| Mid-iowa Community Action -mica- Incorporated | General support | $7,200 |
| Greater Poweshiek Community Foundation | General support | $5,500 |
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Frequently asked questions
- Is The Trustees of Grinnell College a legitimate nonprofit?
- Yes. The Trustees of Grinnell College is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 42-0680387, based in Grinnell, Iowa. Donations are tax-deductible.
- What is The Trustees of Grinnell College's EIN?
- The Trustees of Grinnell College's Employer Identification Number (EIN) is 42-0680387.
- How much revenue does The Trustees of Grinnell College report?
- The Trustees of Grinnell College reported $397,436,581 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of The Trustees of Grinnell College's spending goes to programs?
- The Trustees of Grinnell College spends about 88% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does The Trustees of Grinnell College have?
- CharityIndex grades The Trustees of Grinnell College B, based on program efficiency and fundraising cost.
- How much does The Trustees of Grinnell College's highest-paid employee make?
- The highest reported compensation on The Trustees of Grinnell College's latest Form 990 is $1,033,208, paid to Jainen Thayer (Chief Investment Officer).
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Data for The Trustees of Grinnell College (EIN 42-0680387) 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.