Civic Intelligence

Simpson College

990 • Fiscal year 2020 • EIN 42-0680389

Jun 01, 2019 to May 31, 2020 • Filed on Mar 17, 2021

701 N C StIndianola, IA 50125

(515) 961-1398

Siviq Scores

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

Liabilities / Assets

44th percentile

0.25x

Higher debt load relative to assets than 44% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

54th percentile

0.61x

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

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Net Margin

21st percentile

-5.2%

Higher net margin than 21% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

45th percentile

$422,567

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 0.7% of source-year revenue.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Asset Growth

24th percentile

-0.5%

Faster asset growth than 24% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

30th percentile

-5.2%

Faster revenue growth than 30% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Assets

Down

$150,227,314

Down $822,338 (-0.5%) from 2019

Net Assets

Down

$113,131,945

Down $3,358,035 (-2.9%) from 2019

Liabilities

Up

$37,095,369

Up $2,535,697 (+7.3%) from 2019

Revenue

Down

$61,218,401

Down $3,365,271 (-5.2%) from 2019

Expenses

Down

$64,380,608

Down $866,490 (-1.3%) from 2019

Net Income

Down

-$3,162,207

Down $2,498,781 (-377%) from 2019

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: $125,619,485Liabilities 2010: $30,268,263Net Assets 2010: $95,351,2222010Assets 2011: $143,098,580Liabilities 2011: $34,846,491Net Assets 2011: $108,252,0892011Assets 2012: $138,387,983Liabilities 2012: $34,472,575Net Assets 2012: $103,915,4082012Assets 2013: $152,234,759Liabilities 2013: $37,598,541Net Assets 2013: $114,636,2182013Assets 2014: $161,377,706Liabilities 2014: $40,312,212Net Assets 2014: $121,065,4942014Assets 2015: $160,918,095Liabilities 2015: $40,690,856Net Assets 2015: $120,227,2392015Assets 2016: $152,057,967Liabilities 2016: $39,725,646Net Assets 2016: $112,332,3212016Assets 2017: $154,530,316Liabilities 2017: $37,475,392Net Assets 2017: $117,054,9242017Assets 2018: $157,999,908Liabilities 2018: $35,825,770Net Assets 2018: $122,174,1382018Assets 2019: $151,049,652Liabilities 2019: $34,559,672Net Assets 2019: $116,489,9802019Assets 2020: $150,227,314Liabilities 2020: $37,095,369Net Assets 2020: $113,131,9452020Assets 2021: $180,912,943Liabilities 2021: $43,481,351Net Assets 2021: $137,431,5922021Assets 2022: $164,069,372Liabilities 2022: $41,164,817Net Assets 2022: $122,904,5552022Assets 2023: $152,836,299Liabilities 2023: $44,058,546Net Assets 2023: $108,777,7532023

Highlighted filing

2020

Assets$150,227,314
Liabilities$37,095,369
Net Assets$113,131,945

Operations Trend

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

$100M$50M$0-$50MExpenses 2010: $54,523,7972010Expenses 2011: $56,897,2452011Revenue 2012: $56,978,959Expenses 2012: $57,516,999Net Income 2012: -$538,0402012Expenses 2013: $59,998,6672013Revenue 2014: $63,300,379Expenses 2014: $61,222,263Net Income 2014: $2,078,1162014Revenue 2015: $63,809,578Expenses 2015: $62,809,286Net Income 2015: $1,000,2922015Revenue 2016: $62,455,185Expenses 2016: $64,135,861Net Income 2016: -$1,680,6762016Revenue 2017: $64,633,959Expenses 2017: $64,988,869Net Income 2017: -$354,9102017Revenue 2018: $67,020,938Expenses 2018: $64,011,170Net Income 2018: $3,009,7682018Revenue 2019: $64,583,672Expenses 2019: $65,247,098Net Income 2019: -$663,4262019Revenue 2020: $61,218,401Expenses 2020: $64,380,608Net Income 2020: -$3,162,2072020Revenue 2021: $82,646,983Expenses 2021: $65,066,415Net Income 2021: $17,580,5682021Revenue 2022: $65,440,867Expenses 2022: $68,948,594Net Income 2022: -$3,507,7272022Revenue 2023: $63,596,291Expenses 2023: $76,041,583Net Income 2023: -$12,445,2922023

Highlighted filing

2020

Revenue$61,218,401
Expenses$64,380,608
Net Income-$3,162,207
Jump To
Filing Snapshot
Filing Period
Jun 1, 2019 to May 31, 2020
Signed
Mar 17, 2021
Return Version
2019v5.0
Gross Receipts
$65,690,342
Mission and Program Overview

Mission

Through innovative learning opportunities, individual student attention, and an unwavering commitment to inclusive educational access, simpson college cultivates a diverse community of learners to lead lives of meaning and purpose.

Simpson College is an independent, selective, church-related, comprehensive liberal-arts college dedicated to excellence in higher education. Our Mission: Through innovative learning opportunities, individual student attention, and an unwavering commitment to inclusive educational access, Simpson College cultivates a diverse community of learners to lead lives of meaning and purpose. Our Vision Statement: To be nationally recognized as the quintessential liberal arts college of the Greater Des Moines area, transforming students through welcoming communities, exceptional programs, and distinctive opportunities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$56,148,768$57,292,517▲ $1,143,749
Land, Buildings, and Equipment, Net$53,740,602$51,052,928▼ $2,687,674
Investments Other Securities$25,461,961$24,222,185▼ $1,239,776
Savings and Temporary Cash Investments$7,816,980$7,753,982▼ $62,998
Cash and Non-Interest-Bearing Accounts$305,523$3,566,687▲ $3,261,164
Pledges and Grants Receivable$2,008,600$1,864,564▼ $144,036
Investments Program Related$2,501,223$1,862,875▼ $638,348
Prepaid Expenses and Deferred Charges$1,421,754$1,355,360▼ $66,394
Accounts Receivable$1,384,241$1,156,216▼ $228,025
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$151,049,652$150,227,314▼ $822,338
Other Assets Total$260,000$100,000▼ $160,000
Liabilities
Tax Exempt Bond Liabilities$22,289,509$21,358,363▼ $931,146
Accounts Payable and Accrued Expenses$6,037,531$9,522,567▲ $3,485,036
Other Liabilities$3,745,244$3,681,236▼ $64,008
Mortgage Notes Payable Secured by Investment Property$2,487,388$2,533,203▲ $45,815
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$34,559,672$37,095,369▲ $2,535,697
Net Assets / Fund Balance
Net Assets With Donor Restrictions$80,303,812$79,929,676▼ $374,136
Net Assets Without Donor Restrictions$36,186,168$33,202,269▼ $2,983,899
Total Net Assets Fund Balance$116,489,980$113,131,945▼ $3,358,035
Total Liabilities and Net Assets / Fund Balance$151,049,652$150,227,314▼ $822,338

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$46,332,702$55,552,883$101,608,407
Equipment$1,969,036$15,476,419$17,445,455
Land$2,480,677-$2,219,994
Leasehold Improvements$156,384$607,971$764,355
Other Land Buildings$114,129$119,537$114,129
Other Securities$6,350--
Closely Held Equity Interests$0--
Financial Derivatives$0--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$83,808,538$765,451▲ $2,393,441$1,638,675$83,186,018
2018$86,947,836$802,421▼ $298,968$1,584,287$83,808,538
2017$84,607,132$514,633▲ $6,377,808$1,937,756$86,947,836
2016$79,823,014$876,375▲ $8,103,638$1,888,838$84,607,132
2015$86,006,393$363,249▼ $3,142,638$1,513,058$79,823,014
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jay K SimmonsPresidentFT$241,602$180,964$422,566
Robert J LaneVice President for College AdvancementFT$158,530$23,847$182,377
Catherine A HochVice President for Business & FinanceFT$132,113$18,083$150,196
Deborah J TierneyVice President for EnrollmentFT$126,333$14,959$141,292
Heidi LevineVice President for Student DevelopmentFT$109,756$23,857$133,613
Tracie L PavonAssistant VP for EnrollmentFT$100,471$21,222$121,693
Mark JuffernbruchAccounting ProfessorFT$99,043$12,577$111,620
Kent A EatonSenior Vice President and Academic DeanFT$74,979$3,748$78,727
Cheryl JacobsenInterim Academic DeanFT$68,934$401$69,335

Highest Paid Contractors

ContractorServicesLocationCompensation
SSC Service SolutionsFacilities ServicesCompass Group USA, PO Box 417632, Boston, MA 02241-7632$3,134,149
Sodexo Inc AffiliatesFood ServicesPO Box 360170, Pittsburgh, PA 15251-6170$1,857,544
Garner PrintingPrinting services1697 NE 53rd Ave, Des Moines, IA 50313$296,350
Ellucian IncInformation Technology Services62814 Collections Center Dr, Chicago, IL 60693$261,189
QCI IncConsulting4300 Westown Pkwy Ste 150, West Des Moines, IA 50266$229,097
Revenue and Support

Revenue Composition

Contributions and Grants
$4,711,572
Program Service Revenue
$53,529,043
Investment Income
$2,603,028
Other Revenue
$374,758
All Other Contributions
$3,487,640
Change in Net Assets
$-3,162,207

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 Traded22$871,957Fair Market Value (FMV)
Other Non Cash Contri Table75$19,282Fair Market Value (FMV)
Other Non Cash Contri Table1$8,496Dealer Lease Rate
Other Non Cash Contri Table8$5,361Fair Market Value (FMV)
Total Noncash Contributions106$905,096-

Audited Revenue Reconciliation

Revenue per Audited Statements
$34,523,622
Revenue Not Reported on Financial Statements
$26,694,779
Revenue Not Reported on Form 990
$-195,828
Other Revenue Adjustments
$26,694,779
Total Revenue per Audited Statements
$34,327,794
Total Revenue per Form 990
$61,218,401
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$26,694,779
Salaries, Compensation, and Employee Benefits$20,104,609
Other Expenses$17,581,220
Total Fundraising Expense$918,503
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$26,694,779--$26,694,779
Other Salaries and Wages$12,396,100$1,557,816$318,729$14,272,645
Depreciation Depletion$3,139,092$367,557$11,747$3,518,396
Other Employee Benefits$2,763,862$495,298$111,175$3,370,335
Occupancy$2,146,570$186,362$0$2,332,932
All Other Expenses$1,475,930$310,923$92,049$1,878,902
Payroll Taxes$870,279$162,660$37,437$1,070,376
Office Expenses$675,204$283,665$62,398$1,021,267
Current Officers, Directors, Trustees, and Key Employees$133,236$529,242$223,272$885,750
Other Expenses$848,474$0$0$848,474
Interest$717,317$45,287$1,401$764,005
Information Technology$270,230$337,885$15,815$623,930
Travel$478,394$76,347$35,333$590,074
Pension Plan Contributions$434,351$62,005$9,147$505,503
Advertising$184,056$195,158$0$379,214
Fees for Service Investment Mgmnt Fees$0$100,000$0$100,000
Fees for Services Legal$0$97,128$0$97,128
Fees for Services Accounting$0$79,024$0$79,024
Total Functional Expenses$58,370,848$5,091,257$918,503$64,380,608

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$64,380,608
Expenses per Audited Statements$37,685,829
Total Expenses per Audited Statements$37,685,829
Expenses Not Reported on Financial Statements$26,694,779
Other Expense Adjustments$26,694,779
Expenses Not Reported on Form 990$0
International Activity

International Summary

Offices
0
Employees
0
Spending
$204,589

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
East Asia and the PacificProgram ServicesStudent May Term course travel00$94,971
Europe (including Iceland and Greenland)Program ServicesSemester Abroad course travel00$68,124
South AmericaProgram ServicesStudent May Term course travel00$37,965
Sub-Saharan AfricaProgram ServicesStudent May Term course travel00$3,529
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$39,160
Fundraising Direct Expenses$29,069
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Athletic Golf Outing$64,206$39,160$8,479$30,681
Total Events$64,206$39,160$29,069$10,091
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
U.S. Government Loan Funds Refundable$2,134,073
Student, Personnel and Sundry Deposits$934,690
Interest Rate Swap Agreements$612,473

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIowa Higher Education Loan Authority2013-06-26$27,841,842Various campus buildings and residence hall improvements

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$26,316,951$22,567,110$4,852,056$133,812

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 35% controlled entity
No
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, Section B, Line 11B

The return preparer reviewed a draft copy of the Form 990 with the President and Vice President of Business & Finance. The return preparer and the Vice President for Business & Finance then reviewed the draft and addressed questions with a tax expert who is part of the accounting firm that audits the College. Appropriate changes were made, if applicable, to the Form 990 based on these reviews. Then, the final draft of the return was made available to all trustee members prior to filing. The return was provided electronically through the College portal and any comments or questions were directed to management or the Audit and Compliance Committee of the Board of Trustees. Finally, prior to return filing, a meeting of the Audit and Compliance Committee to the Board of Trustees was held in which management reviews the Form 990 with the Committee. The tax expert also participated in the meeting with the Audit and Compliance Committee. Appropriate changes, if applicable, were made to the Form 990 at the direction of the Audit and Trustees was held in which management reviews the Form 990 with the Committee.

Form 990, Part VI, Section B, Line 12C

As required by the College bylaws, all trustees, officers, and key employees are required to disclose annual interests that could give rise to conflicts. All reported information is compiled under the direction of the President. Copies of the completed forms are provided to the Audit and Compliance Committee of the Board of Trustees who then determines whether further review or action is necessary.

Form 990, Part VI, Section B, Line 15

The Executive Compensation Committee of the Board of Trustees consists of the Treasurer, Secretary, and Chairperson of the Board, which are all independent members of the Board of Trustees. The Committee is charged with reviewing and approving the compensation of the cabinet-level administrators. The Committee uses comparability data such as a survey issued to several private colleges regarding total compensation for a President conducted by an independent compensation consultant and salary data for private college administrator positions provided by a state association of independent private colleges. Minutes of all Committee meetings are kept and maintained. The Committee is required to inform the full Board of Trustees of all provisions and elements of the President's compensation. The Committee last reviewed the Compensation package to the President during the year ended in May 2020.

Form 990, Part VI, Section C, Line 19

Upon written request to the President or Vice President for Business & Finance, the College will make its governing documents, conflict of interest policy and financial statements available to the public.

Filing and Contact Details

Filer

Filer Name
Simpson College
EIN
42-0680389
Phone
5159611398
Address
701 N C St, Indianola, IA 50125

Signing Officer

Name
Mason Sander
Title
Controller
Phone
5159611579
Signed
2021-03-17

Organization Details

Principal Officer
President Marsha Kelliher
Formed
1860
Legal Domicile
Ia
Voting Board Members
45
Independent Board Members
44
Employees
1,335
Volunteers
0
Supplemental Narrative

Financial Statement Notes

Schedule D, Part III, Line 4

The College maintains various artworks utilized primarily for the preservation of the heritage of the College and general public observation.

Schedule D, Part V, Line 4

The Simpson College endowment is intended to support the College's students by providing scholarships and loan funds as well as the College by providing support for operations and facilities.

Schedule D, Part XI, Line 4B

Student aid is netted against tuition and fees in the audited financial statements.

Schedule D, Part XII, Line 4B

Student aid is netted against tuition and fees in the audited financial statements.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt120530
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt218084
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt314959
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt423857
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt521222
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt612577
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt73748
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt8401
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt500
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt510
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt520
IRS990/Form990PartVIISectionAGrp/PersonNm0Jay K Simmons
IRS990/Form990PartVIISectionAGrp/PersonNm1Robert J Lane
IRS990/Form990PartVIISectionAGrp/PersonNm2Catherine A Hoch
IRS990/Form990PartVIISectionAGrp/PersonNm3Deborah J Tierney
IRS990/Form990PartVIISectionAGrp/PersonNm4Heidi Levine
IRS990/Form990PartVIISectionAGrp/PersonNm5Tracie L Pavon
IRS990/Form990PartVIISectionAGrp/PersonNm6Mark Juffernbruch
IRS990/Form990PartVIISectionAGrp/PersonNm7Kent A Eaton
IRS990/Form990PartVIISectionAGrp/PersonNm8Cheryl Jacobsen
IRS990/Form990PartVIISectionAGrp/PersonNm9Tim Bonney
IRS990/Form990PartVIISectionAGrp/PersonNm10Jay R Byers
IRS990/Form990PartVIISectionAGrp/PersonNm11Nicole L Crain
IRS990/Form990PartVIISectionAGrp/PersonNm12Michael DeVito
IRS990/Form990PartVIISectionAGrp/PersonNm13D Robert Downing
IRS990/Form990PartVIISectionAGrp/PersonNm14Rick W Exline
IRS990/Form990PartVIISectionAGrp/PersonNm15Steven C Fiterman

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$153$44.1$109$63.6$76.0$12.4
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$164$41.2$123$65.4$68.9$3.51
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$181$43.5$137$82.6$65.1$17.6
2020Detailed filing. Detailed filing data is available for this year.$150$37.1$113$61.2$64.4$3.16
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$151$34.6$116$64.6$65.2$0.66
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$158$35.8$122$67.0$64.0$3.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$155$37.5$117$64.6$65.0$0.35
2016Summary only. Only limited summary data is available for this year.$152$39.7$112$62.5$64.1$1.68
2015Detailed filing. Detailed filing data is available for this year.$161$40.7$120$63.8$62.8$1.00
2014Detailed filing. Detailed filing data is available for this year.$161$40.3$121$63.3$61.2$2.08
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$152$37.6$115$60.0
2012Summary only. Only limited summary data is available for this year.$138$34.5$104$57.0$57.5$0.54
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$143$34.8$108$56.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$126$30.3$95.4$54.5