Civic Intelligence

Central College

990 • Fiscal year 2014 • EIN 42-0680344

Jul 01, 2013 to Jun 30, 2014 • Filed on Apr 28, 2015

812 University50219

(641) 628-5274

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

54th percentile

0.35x

Higher debt load relative to assets than 54% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Liabilities / Revenue

72nd percentile

0.97x

Higher debt load relative to revenue than 72% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Net Margin

50th percentile

5.4%

Higher net margin than 50% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Top Officer Pay

24th percentile

$279,218

Higher top officer pay than 24% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2014

Asset Growth

46th percentile

5.0%

Faster asset growth than 46% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Revenue Growth

26th percentile

-1.2%

Faster revenue growth than 26% of similar nonprofits.

2014 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2013 to 2014

Assets

Up

$191,727,699

Up $9,105,688 (+5.0%) from 2013

Net Assets

Up

$124,822,541

Up $10,646,714 (+9.3%) from 2013

Liabilities

Down

$66,905,158

Down $1,541,026 (-2.3%) from 2013

Revenue

Down

$69,208,345

Down $874,368 (-1.2%) from 2013

Expenses

Down

$65,451,469

Down $1,321,079 (-2.0%) from 2013

Net Income

Up

$3,756,876

Up $446,711 (+13%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2010: $178,102,693Liabilities 2010: $71,538,045Net Assets 2010: $106,564,6482010Assets 2011: $186,036,464Liabilities 2011: $69,388,855Net Assets 2011: $116,647,6092011Assets 2012: $180,403,041Liabilities 2012: $71,858,877Net Assets 2012: $108,544,1642012Assets 2013: $182,622,011Liabilities 2013: $68,446,184Net Assets 2013: $114,175,8272013Assets 2014: $191,727,699Liabilities 2014: $66,905,158Net Assets 2014: $124,822,5412014Assets 2015: $194,072,252Liabilities 2015: $66,794,554Net Assets 2015: $127,277,6982015Assets 2016: $186,452,005Liabilities 2016: $65,982,590Net Assets 2016: $120,469,4152016Assets 2017: $186,156,341Liabilities 2017: $72,955,610Net Assets 2017: $113,200,7312017Assets 2018: $187,395,705Liabilities 2018: $74,426,724Net Assets 2018: $112,968,9812018Assets 2019: $185,528,700Liabilities 2019: $75,607,888Net Assets 2019: $109,920,8122019Assets 2020: $182,044,293Liabilities 2020: $79,304,643Net Assets 2020: $102,739,6502020Assets 2021: $195,820,230Liabilities 2021: $73,945,740Net Assets 2021: $121,874,4902021Assets 2022: $187,622,625Liabilities 2022: $72,858,136Net Assets 2022: $114,764,4892022Assets 2023: $178,143,243Liabilities 2023: $71,392,576Net Assets 2023: $106,750,6672023Assets 2024: $176,265,625Liabilities 2024: $70,245,551Net Assets 2024: $106,020,0742024

Highlighted filing

2014

Assets$191,727,699
Liabilities$66,905,158
Net Assets$124,822,541

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$100M$50M$0-$50MExpenses 2010: $43,599,7972010Expenses 2011: $46,197,7562011Expenses 2012: $47,702,5562012Revenue 2013: $70,082,713Expenses 2013: $66,772,548Net Income 2013: $3,310,1652013Revenue 2014: $69,208,345Expenses 2014: $65,451,469Net Income 2014: $3,756,8762014Revenue 2015: $74,977,626Expenses 2015: $69,797,022Net Income 2015: $5,180,6042015Revenue 2016: $69,812,868Expenses 2016: $68,786,220Net Income 2016: $1,026,6482016Revenue 2017: $65,577,407Expenses 2017: $69,569,852Net Income 2017: -$3,992,4452017Revenue 2018: $67,571,678Expenses 2018: $71,278,026Net Income 2018: -$3,706,3482018Revenue 2019: $69,348,263Expenses 2019: $69,776,345Net Income 2019: -$428,0822019Revenue 2020: $65,374,610Expenses 2020: $70,929,384Net Income 2020: -$5,554,7742020Revenue 2021: $52,413,154Expenses 2021: $50,392,592Net Income 2021: $2,020,5622021Revenue 2022: $50,607,367Expenses 2022: $51,154,042Net Income 2022: -$546,6752022Revenue 2023: $50,261,534Expenses 2023: $54,375,050Net Income 2023: -$4,113,5162023Revenue 2024: $51,726,412Expenses 2024: $53,858,135Net Income 2024: -$2,131,7232024

Highlighted filing

2014

Revenue$69,208,345
Expenses$65,451,469
Net Income$3,756,876
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Apr 28, 2015
Return Version
2013v4.0
Gross Receipts
$69,380,290
Mission and Program Overview

Mission

Central college is a residential liberal arts college dedicated to helping students discover and develop their greatest potential. Guided by its ecumenical christian tradition, the college community engages in vigorous, open inquiry in pursuit of academic excellence. The college nurtures the development of the mind, while fostering spiritual and emotional maturity and physical well-being. Central integrates career preparation with the development of values essential to responsible citizenship, empowering graduates for effective service in local, national, and international communities.

Central College is a residential liberal arts college dedicated to helping students discover and develop their greatest potential. Guided by its ecumenical Christian tradition, the college community engages in vigorous, open inquiry in pursuit of academic excellence.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$88,387,158$86,843,499▼ $1,543,659
Investments in Publicly Traded Securities$37,361,682$46,444,511▲ $9,082,829
Investments Other Securities$34,641,723$37,704,845▲ $3,063,122
Savings and Temporary Cash Investments$5,501,511$5,530,470▲ $28,959
Pledges and Grants Receivable$2,044,893$4,880,081▲ $2,835,188
Cash and Non-Interest-Bearing Accounts$9,012,765$4,771,167▼ $4,241,598
Other Notes and Loans Receivable, Net$2,968,784$2,998,841▲ $30,057
Accounts Receivable$643,426$950,668▲ $307,242
Prepaid Expenses and Deferred Charges$944,511$714,147▼ $230,364
Inventories for Sale or Use$197,805$191,349▼ $6,456
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Total Assets$182,622,010$191,727,699▲ $9,105,689
Other Assets Total$917,752$698,121▼ $219,631
Liabilities
Tax Exempt Bond Liabilities$61,050,000$60,743,726▼ $306,274
Other Liabilities$3,862,105$3,162,234▼ $699,871
Accounts Payable and Accrued Expenses$2,355,781$2,360,740▲ $4,959
Deferred Revenue$1,178,297$638,458▼ $539,839
Total Liabilities$68,446,183$66,905,158▼ $1,541,025
Net Assets / Fund Balance
Unrestricted Net Assets$60,935,655$63,773,720▲ $2,838,065
Permanently Rstr Net Assets$44,574,873$46,414,190▲ $1,839,317
Temporarily Rstr Net Assets$8,665,299$14,634,631▲ $5,969,332
Total Net Assets Fund Balance$114,175,827$124,822,541▲ $10,646,714
Total Liabilities and Net Assets / Fund Balance$182,622,010$191,727,699▲ $9,105,689

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$78,310,717$45,605,167$123,915,884
Equipment$1,038,924$20,938,633$21,977,557
Land$6,607,588-$6,607,588
Other Land Buildings$886,270-$886,270

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$71,067,325$1,292,161▲ $10,928,140$1,941,662$79,887,626
2012$68,072,256$970,603▲ $5,424,466$1,031,837$71,067,325
2011$73,107,882$864,031▼ $2,513,556$2,180,151$68,072,256
2010$64,144,344$1,230,683▲ $11,140,659$2,333,292$73,107,882
2009$63,056,305$1,268,850▲ $3,549,032$2,524,260$64,144,344
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark PutnamPresidentFT$236,365$42,853$279,218
Mary StreyVP Academic AffairsFT$167,944$34,366$202,310
Margaret TungsethVP FinanceFT$119,806$30,092$149,898
Jeffrey McmartinEducator/coachFT$102,725$22,090$124,815
Sheryl KamerickControllerFT$79,442$9,068$88,510

Highest Paid Contractors

ContractorServicesLocationCompensation
Royall & CoConsultant-$384,464
LamairInsurance Broker-$371,696
DaktronicsElectronic Scoreboar-$228,828
EllucianSoftware Provider-$197,736
Town CrierPrinting-$181,574
Revenue and Support

Revenue Composition

Contributions and Grants
$9,187,652
Program Service Revenue
$56,360,140
Investment Income
$3,621,111
Other Revenue
$39,442
All Other Contributions
$7,980,164
Change in Net Assets
$3,756,876

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded12$427,500Stock Exchange
Other Non Cash Contri Table1$5,975Fair Value
Other Non Cash Contri Table1$4,999Fair Value
Total Noncash Contributions14$438,474-

Audited Revenue Reconciliation

Revenue per Audited Statements
$48,830,553
Revenue Not Reported on Financial Statements
$20,377,792
Revenue Not Reported on Form 990
$7,549,316
Other Revenue Adjustments
$20,377,792
Total Revenue per Audited Statements
$56,379,869
Total Revenue per Form 990
$69,208,345
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$23,437,487
Salaries, Compensation, and Employee Benefits$21,636,190
Grants and Similar Amounts Paid$20,377,792
Total Fundraising Expense$2,246,881
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$20,377,792--$20,377,792
Other Salaries and Wages$14,196,622$1,245,122$989,532$16,431,276
Depreciation Depletion$3,781,383$67,459$19,553$3,868,395
Interest$2,566,330$6,137$1,598$2,574,065
Office Expenses$1,931,034$362,438$144,923$2,438,395
Other Employee Benefits$1,536,484$170,288$71,824$1,778,596
Travel$1,067,394$142,107$128,940$1,338,441
Payroll Taxes$1,121,338$114,180$83,362$1,318,880
Pension Plan Contributions$1,014,021$122,581$68,177$1,204,779
Other Expenses$1,199,626$69,503$30,441$1,199,626
Occupancy$1,001,727$71,421$8,892$1,082,040
All Other Expenses$1,043,399$2,877$2,450$1,048,726
Current Officers, Directors, Trustees, and Key Employees$290,837$454,265$157,557$902,659
Information Technology$466,894$282,010$13,390$762,294
Advertising$64,996$46,502$523,270$634,768
Conferences and Meetings$178,986--$178,986
Fees for Services Legal$2,633$169,158-$171,791
Fees for Services Accounting-$87,770-$87,770
Fees for Services Management-$76,406$2,972$79,378
Total Functional Expenses$59,714,364$3,490,224$2,246,881$65,451,469

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$65,451,469
Total Expenses per Audited Statements$45,177,554
Expenses per Audited Statements$45,073,677
Expenses Not Reported on Financial Statements$20,377,792
Other Expense Adjustments$20,377,792
Expenses Not Reported on Form 990$103,877
International Activity

International Summary

Offices
7
Employees
7
Spending
$3,048,337

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
EuropeProgram ServicesSchool Educational66$2,862,887
North AmericaProgram ServicesSchool Educational11$185,450
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
US Govt Grant Refundable$2,271,455
Annuities Payable$890,779

Bond Issues

BondIssuerIssuedIssue PricePurpose
C42-12356962012-06-14$35,935,048Refund prior issue 5-22-01
B52-16998862008-09-04$23,480,000Const of student res. Hall
D42-12356962012-06-14$14,803,707SEE PART VI
A42-60051152005-06-29$2,100,000SEE PART VI

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
C$35,924,901--$569,420
B$23,580,724$13,050,000$13,880,000$221,753
D$14,803,763--$244,207
A$2,105,537$35,303,197$1,110,050$27,486

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

Form 990 is reviewed by governance board of the college before filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Conflict of interest document is completed each year and monitored by the treasurer's office.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

President's salary is reviewed and approved by the board of trustees compensation committee. Salaries of key employees and officers are approved by direct reports. All salaries are monitored by the business office monthly.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

EIN
42-0680344
Phone
6416285274

Signing Officer

Name
Sheryl Kamerick
Title
Controller
Signed
2015-04-28
Discuss with paid preparer
Yes

Organization Details

Formed
1853
Legal Domicile
Ia
Voting Board Members
32
Independent Board Members
32
Employees
1,830

Preparer

Preparer
Joseph B Ryan CPA
Phone
6416722523
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D: Other Program Services Description

Other program services 4:

Form 990, Part V, Line 4B

Names of additional foreign countries: spain, france, austria, netherlands, mexico.

Form 990, Part XI, Line 5, Other Changes in Net Assets or Fund Balance

Net realized gain $2,321,498 on investments

Schedule K, Part I, Line A, Column F

Construct instructional building, remodel dormitory, other

Schedule K, Part I, Line D, Column (F)

Partial refund prior issue (09/04/08)

Schedule K, Part II, Line 3

The total proceeds do not equal the summation of lines 4-12 due to transferred or replacement proceeds in line 4.

Schedule K, Part II, Line 3, Columns A &B

THE TOTAL PROCEEDS DO NOT AGREE TO THE ISSUE PRICE IN PART I, COLUMN (e) DUE TO INVESTMENT EARNINGS.

Financial Statement Notes

Part III, Line 4: Description of organization'S collections and how it furthers its purpose.

Paintings and indian jewelry collection used in academic classes, public display on campus, and loaned to other non-profit organizations with no fee.

Part V, Line 4: Intended uses of the endowment fund.

The intended use of the endowment funds is to fund educational scholarships for central college students, faculty, and support for endowed chairs, and additional special projects for faculty members and the music department.

Part X : FIN48 Footnote

The Internal Revenue Service has determined that the College is exempt from Federal income tax under Section 501(c)(3) of the Internal Revenue Code. The College is also exempt from state income tax. However, any unrelated business income may be subject to taxation. The College follows the accounting standards for contingencies in evaluating uncertain tax positions. This guidance prescribes recognition threshold principles for the financial statement recognition of tax positions taken or expected to be taken on a tax return that are not certain to be realized. No liability has been recognized by the College for uncertain tax positions as of June 30, 2014 and 2013. The Colleges tax returns are subject to review and examination by federal and state authorities. The tax returns for fiscal years 2011 and thereafter are open to examination by federal and state authorities.

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

RENTAL EXPENSES $103877

Part XI, Line 4B: Other revenue amounts included on 990 but not included in F/S

Scholarships reporting adj $20377792

Part XII, Line 2D: Other expenses and losses per audited F/S

RENTAL EXPENSES $103877

Part XII, Line 4B: Other revenue amounts included on 990 but not included in F/S

Scholarships reporting adj $20377792

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IRS990/Desc0PROVIDED EDUCATIONAL SERVICES RELATED TO CLASSROOM TEACHING, LABORATORY EXPERIENCES, AND PROGRAM SERVICE TO 1,358 STUDENTS, INCLUDING 1,293 RECEIVING INSTITUTIONAL FINANCIAL ASSISTANCE.
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$176$70.2$106$51.7$53.9$2.13
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$178$71.4$107$50.3$54.4$4.11
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$188$72.9$115$50.6$51.2$0.55
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$196$73.9$122$52.4$50.4$2.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$182$79.3$103$65.4$70.9$5.55
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$186$75.6$110$69.3$69.8$0.43
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$187$74.4$113$67.6$71.3$3.71
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$186$73.0$113$65.6$69.6$3.99
2016Detailed filing. Detailed filing data is available for this year.$186$66.0$120$69.8$68.8$1.03
2015Detailed filing. Detailed filing data is available for this year.$194$66.8$127$75.0$69.8$5.18
2014Detailed filing. Detailed filing data is available for this year.$192$66.9$125$69.2$65.5$3.76
2013Summary only. Only limited summary data is available for this year.$183$68.4$114$70.1$66.8$3.31
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$180$71.9$109$47.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$186$69.4$117$46.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$178$71.5$107$43.6
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2014 filings • 501(c)3 • $100M-$250M nonprofits