Civic Intelligence

Simpson College

990 • Fiscal year 2024 • EIN 42-0680389

Jun 01, 2023 to May 31, 2024 • Filed on Apr 15, 2025

701 North C StreetIndianola, IA 50125

(515) 961-6251

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.29x

Higher debt load relative to assets than 53% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

61st percentile

0.63x

Higher debt load relative to revenue than 61% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Net Margin

10th percentile

-18%

Higher net margin than 10% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

36th percentile

$374,391

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2024

Asset Growth

10th percentile

-4.8%

Faster asset growth than 10% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

39th percentile

4.9%

Faster revenue growth than 39% of similar nonprofits.

2024 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Assets

Down

$145,451,082

Down $7,385,217 (-4.8%) from 2023

Net Assets

Down

$103,532,883

Down $5,244,870 (-4.8%) from 2023

Liabilities

Down

$41,918,199

Down $2,140,347 (-4.9%) from 2023

Revenue

Up

$66,698,073

Up $3,101,782 (+4.9%) from 2023

Expenses

Up

$78,665,274

Up $2,623,691 (+3.5%) from 2023

Net Income

Up

-$11,967,201

Up $478,091 (+3.8%) from 2023

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: $108,777,7532023Assets 2024: $145,451,082Liabilities 2024: $41,918,199Net Assets 2024: $103,532,8832024

Highlighted filing

2024

Assets$145,451,082
Liabilities$41,918,199
Net Assets$103,532,883

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: -$12,445,2922023Revenue 2024: $66,698,073Expenses 2024: $78,665,274Net Income 2024: -$11,967,2012024

Highlighted filing

2024

Revenue$66,698,073
Expenses$78,665,274
Net Income-$11,967,201
Jump To
Filing Snapshot
Filing Period
Jun 1, 2023 to May 31, 2024
Signed
Apr 15, 2025
Return Version
2023v6.0
Gross Receipts
$93,577,092
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.

A residential, coeducation, undergraduate liberal arts college.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$56,881,575$62,932,064▲ $6,050,489
Investments in Publicly Traded Securities$54,944,448$43,495,664▼ $11,448,784
Investments Other Securities$30,719,277$28,329,962▼ $2,389,315
Savings and Temporary Cash Investments$4,650,468$6,292,890▲ $1,642,422
Prepaid Expenses and Deferred Charges$1,349,251$1,405,500▲ $56,249
Accounts Receivable$1,038,329$1,210,353▲ $172,024
Cash and Non-Interest-Bearing Accounts$2,607,022$1,183,448▼ $1,423,574
Pledges and Grants Receivable$152,462$317,111▲ $164,649
Inventories for Sale or Use$75,547$79,095▲ $3,548
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Loans From Officers Directors$0$0→ $0
Total Assets$152,836,299$145,451,082▼ $7,385,217
Other Assets Total$417,920$204,995▼ $212,925
Liabilities
Tax Exempt Bond Liabilities$31,965,000$31,740,000▼ $225,000
Unsecured Notes Loans Payable$4,081,289$4,382,787▲ $301,498
Accounts Payable and Accrued Expenses$5,959,013$4,371,629▼ $1,587,384
Other Liabilities$805,363$944,788▲ $139,425
Deferred Revenue$1,247,881$478,995▼ $768,886
Total Liabilities$44,058,546$41,918,199▼ $2,140,347
Net Assets / Fund Balance
Net Assets With Donor Restrictions$89,874,603$90,422,869▲ $548,266
Net Assets Without Donor Restrictions$18,903,150$13,110,014▼ $5,793,136
Total Net Assets Fund Balance$108,777,753$103,532,883▼ $5,244,870
Total Liabilities and Net Assets / Fund Balance$152,836,299$145,451,082▼ $7,385,217

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$59,917,668$50,383,891$110,301,559
Equipment$958,885$8,675,197$9,634,082
Land$2,029,854-$2,029,854
Other Land Buildings$25,657$0$25,657
Leasehold Improvements$0$0$0
Other Securities$15,310,291--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$81,930,607$723,390▲ $9,487,851$163,153$87,173,703
2022$95,427,154$727,546▼ $1,898,867$9,934,214$81,930,607
2021$105,332,071$1,051,350▼ $6,320,171$2,082,243$95,427,154
2020$83,186,018$562,808▲ $25,410,997$1,666,558$105,332,071
2019$83,808,538$765,451▲ $2,393,441$1,638,675$83,186,018
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Marsha KelliherPresident Thru AUG 23FT$186,136$188,255$374,391
John WoellAcademic DeanFT$173,601$27,511$201,112
Jared BienenmannVice President - College AdvancementFT$149,727$32,297$182,024
Jay N ByersPresidentFT$165,389$10,528$175,917
Deanna McCormickVP- Business and FinanceFT$152,791$12,324$165,115
Leigh D MlodzikVP - EnrollmentFT$138,059$24,776$162,835
Tracie PavonAsst VP - Enrollment & Financial AidFT$106,317$55,189$161,506
Roger DegermanVP - Marketing & Strategic CommunicationsFT$134,227$21,142$155,369
Heidi B LevineVP - Planning and Student DevelopmentFT$124,716$18,764$143,480
Keyah LevyVP - Diversity, Equity & InclusionFT$116,387$14,925$131,312
Randolph FehrInterim VP - Business and FinanceFT$105,000-$105,000
Bret MillsVP of Finance/business Administration, CFOFT$6,664$1,366$8,030

Highest Paid Contractors

ContractorServicesLocationCompensation
Story Construction CoConstruction2810 Wakefield Circle, Ames, IA 50010$7,579,959
Jones Lang LaSalle Americas IncCampus Services200 E Randolph Dr, Chicago, IL 60601$4,089,041
Sodexo Inc & AffiliatesFood Service4880 Paysphere Circle, Chicago, IL 60674$3,234,193
Air-Con Mechanical CorporationConstruction1415 SE Pleasant View Dr, Des Moines, IA 50320$1,858,162
Downing Construction IncConstruction509 E Scenic Valley Ave, Indianola, IA 50125$605,613
Revenue and Support

Revenue Composition

Contributions and Grants
$4,830,366
Program Service Revenue
$57,334,733
Investment Income
$2,571,074
Other Revenue
$1,961,900
All Other Contributions
$3,910,622
Change in Net Assets
$-11,967,201

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded16$607,628Market value
Total Noncash Contributions16$607,628-

Audited Revenue Reconciliation

Revenue per Audited Statements
$34,333,611
Revenue Not Reported on Financial Statements
$32,364,462
Revenue Not Reported on Form 990
$7,186,743
Other Revenue Adjustments
$32,279,128
Total Revenue per Audited Statements
$41,520,354
Total Revenue per Form 990
$66,698,073
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$32,279,128
Other Expenses$24,667,900
Salaries, Compensation, and Employee Benefits$21,718,246
Total Fundraising Expense$1,551,383
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$32,279,128--$32,279,128
Other Salaries and Wages$13,196,327$1,751,797$536,512$15,484,636
Occupancy$6,793,625$626,479$39,183$7,459,287
Other Employee Benefits$2,836,400$466,823$141,628$3,444,851
Fees for Services Other$2,913,599$293,886$0$3,207,485
Depreciation Depletion$2,722,359$233,277$28,472$2,984,108
Office Expenses$1,851,336$88,355$48,241$1,987,932
Travel$1,509,075$44,290$299,333$1,852,698
Interest$1,294,570$132,043$16,679$1,443,292
All Other Expenses$544,264$727,104$128,678$1,400,046
Fees for Services Management$1,115,078$91,284$0$1,206,362
Payroll Taxes$933,502$164,889$52,504$1,150,895
Current Officers, Directors, Trustees, and Key Employees$207,434$661,551$240,660$1,109,645
Information Technology$242,118$584,930$0$827,048
Advertising$315,186$247,487$0$562,673
Pension Plan Contributions$442,216$66,510$19,493$528,219
Other Expenses$0$192,802$0$192,802
Fees for Services Accounting$0$171,100$0$171,100
Insurance$67,462$95,377$0$162,839
Fees for Services Legal$0$113,468$0$113,468
Fees for Service Investment Mgmnt Fees$0$85,334$0$85,334
Total Functional Expenses$70,065,817$7,048,074$1,551,383$78,665,274

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$78,665,274
Total Expenses per Audited Statements$46,765,224
Expenses per Audited Statements$46,300,812
Expenses Not Reported on Financial Statements$32,364,462
Other Expense Adjustments$32,279,128
Expenses Not Reported on Form 990$464,412
International Activity

International Summary

Offices
0
Employees
0
Spending
$387,948

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
Europe (Including Iceland and Greenland)Program Servicesstudents traveling or academic studies00$347,447
Central America and the CaribbeanProgram ServicesStudents traveling for academic studies00$24,607
South AsiaProgram Servicesstudents traveling for academic studies00$15,894
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$37,820
Fundraising Direct Expenses$17,960
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Online Auction$21,300$10,320$1,000$9,320
Storm Golf Outing$12,000$7,500$1,260$6,240
Total Events$53,300$37,820$17,960$19,860
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
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
Asset Retirement Obligation$507,706
Deposits$184,868
Operating Lease Liability$153,439
Annuity and Life Income Liabilities$98,775

Bond Issues

BondIssuerIssuedIssue PricePurpose
AIowa Higher Education Loan Authority2020-11-25$32,439,068Iowa higher education loan authority

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$32,439,068$21,507,821$699,068$648,779

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
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, Line 6 Section A, Line 1

Between meetings of the board, the executive committee shall have general supervision of the administration and property of the college, except that, unless specifically empowered by the board to do so, it may not take any action inconsistent with a prior act of the board, award degrees, alter bylaws, locate permanent buildings on tax-exempt property held for college purposes, remove or appoint the president of the college, or take any action which has been reserved by the board. Minutes of each meeting are presented to the board at the full board of trustees meeting for comment and such action as is appropriate.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The audit and compliance committee will review a draft of the return prior to filing and the final return will be made available to all trustees prior to filing.

Form 990, Part VI, Line 12C Conflict of interest policy

Board members are required to disclose conflicts for any action item involving a potential conflict of interest, whether present at a board or committee meeting or absent. The conflict will be noted in the meeting minutes. The board member may not participate in or be allowed to hear the board or committee discussion of the matter except to disclose material facts or answer questions. The board member shall not attempt to exert influence with respect to the matter. The board member shall not be counted toward the quorum of the meeting, will not be allowed to vote on the matter and shall not be present during the vote unless it is by secret ballot. All these considerations will be reflected in the meeting minutes.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The executive compensation committe of the board of trustees, consisting of the treasurer, secretary, and chairperson of the board, is charged with reviewing and approving the compensation of the president. This was last done in calendar year 2023 when the board hired jay byers as president of simpson college. 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.

Form 990, Part VI, Line 15B Process to establish compensation of other employees

The president establishes salaries for all other key employees based on comparable market data and other factors. This was last done in calendar year 2023.

Form 990, Part VI, Line 19 Required documents available to the public

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
5159616251
Address
701 NORTH C STREET, INDIANOLA, IA 50125

Signing Officer

Name
Jay N Byers
Title
President
Signed
2025-04-15
Discuss with paid preparer
Yes

Organization Details

Formed
1860
Legal Domicile
Ia
Voting Board Members
43
Independent Board Members
42
Employees
1,039
Volunteers
40

Preparer

Firm
Forvis Mazars LLP
Address
1248 O Street Ste 1040, Lincoln, NE 68508-1461
Preparer
Kristin Tynon
Phone
4024737600
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2

Management has evaluated their income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Schedule D, Part III, Line 4 Collections of art - description of collections

Simpson 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 Intended uses of endowment funds

The simpson college endowment is intended to support the students of the college via scholarships and loan funds as well as operations and facilities

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

Cost of Fixed Asset Disposals - 464412

Schedule D, Part XI, Line 4(B) Other revenues in form 990 not in audited financial statements

Scholarships - 32279128

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

Cost of Fixed Asset Disposals - 464412

Schedule D, Part XII, Line 4(B) Other expenses in form 990 not in audited financial statements

Scholarships - 32279128

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IRS990/Form990PartVIISectionAGrp/PersonNm0Deanna Strable-Soethout
IRS990/Form990PartVIISectionAGrp/PersonNm1Jay N Byers
IRS990/Form990PartVIISectionAGrp/PersonNm2Marsha Kelliher
IRS990/Form990PartVIISectionAGrp/PersonNm3Susan E Voss
IRS990/Form990PartVIISectionAGrp/PersonNm4Terry W Handley
IRS990/Form990PartVIISectionAGrp/PersonNm5Barbara A Miller
IRS990/Form990PartVIISectionAGrp/PersonNm6Ben F Gaumer
IRS990/Form990PartVIISectionAGrp/PersonNm7Bishop Kennetha Bigham-Tsai
IRS990/Form990PartVIISectionAGrp/PersonNm8D Robert Downing
IRS990/Form990PartVIISectionAGrp/PersonNm9Denise M Griffey
IRS990/Form990PartVIISectionAGrp/PersonNm10Elizabeth Raymond Nigut
IRS990/Form990PartVIISectionAGrp/PersonNm11Garrett Piklapp
IRS990/Form990PartVIISectionAGrp/PersonNm12Hank Norem
IRS990/Form990PartVIISectionAGrp/PersonNm13Izaah JB Knox
IRS990/Form990PartVIISectionAGrp/PersonNm14James C Spooner
IRS990/Form990PartVIISectionAGrp/PersonNm15Jay T Marshall
IRS990/Form990PartVIISectionAGrp/PersonNm16Jessica Boltinghouse
IRS990/Form990PartVIISectionAGrp/PersonNm17Joe Sorenson
IRS990/Form990PartVIISectionAGrp/PersonNm18John R Norris
IRS990/Form990PartVIISectionAGrp/PersonNm19John T Lawlor
IRS990/Form990PartVIISectionAGrp/PersonNm20Juli M Willeman
IRS990/Form990PartVIISectionAGrp/PersonNm21Kamie Downing-Haynes
IRS990/Form990PartVIISectionAGrp/PersonNm22Kevin Halterman
IRS990/Form990PartVIISectionAGrp/PersonNm23Kirk J Tyler
IRS990/Form990PartVIISectionAGrp/PersonNm24Laura Howe

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$145$41.9$104$66.7$78.7$12.0
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
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$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