Drake University
Drake University reported $256.3 million in revenue and $246.3 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $89.95 went to program services, $8.63 to management and general costs and $1.42 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 73.1% of the total. Government grants made up 6.2%. The highest compensation it reported for one person was $813,542 (PRESIDENT). 175 people received more than $100,000 in reportable compensation. Revenue rose 15% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $246MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $256MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 89.9% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 8.6% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.4% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.09 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 15.3% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 6.2% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 73.1% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $813,542 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.33% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 175 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 26.8 | 13.3 |
| Independent voting board members Part VI 1a–1b | 30 of 31 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseDrake University is a national coeducational, independent and private university with approximately 5,000 students enrolled for the 2024 - 2025 academic year. Drake is accredited by the higher learning commission of the north central association of schools and colleges
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT Director/trustee, officer, 40.00 hrs/week | $655,175 | $0 | $158,367 | $813,542 |
| HEAD MEN'S BASKETBALL COACH Highest compensated employee, 40.00 hrs/week | $489,243 | $0 | $44,135 | $533,378 |
| FORMER MEN'S B-BALL COACH (4/30/24) Former, 40.00 hrs/week | $369,080 | $0 | $17,111 | $386,191 |
| DIRECTOR OF ATHLETICS Highest compensated employee, 40.00 hrs/week | $256,175 | $0 | $43,108 | $299,283 |
| HEAD WOMEN'S BASKETBALL COACH Highest compensated employee, 40.00 hrs/week | $281,364 | $0 | $17,828 | $299,192 |
| PROVOST Officer, 40.00 hrs/week | $244,267 | $0 | $31,489 | $275,756 |
| PROFESSOR OF LAW Highest compensated employee, 40.00 hrs/week | $246,906 | $0 | $28,814 | $275,720 |
| VICE PRESIDENT INST. ADVANCEMENT Officer, 40.00 hrs/week | $228,384 | $0 | $40,138 | $268,522 |
175 people received more than $100,000 in reportable compensation from Drake University (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.7M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b31 · 30 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 52,821
- Volunteers Part I, line 64,869
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| 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 |
Individuals listed as contractors are left out. 83 contractors were paid more than $100,000 in all.
Private foundation grants it received
81 private foundations reported grants to Drake University totaling $3.4M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Drake University's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Drake University, you can publish a response that is linked from this page.
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Of every $100 Drake University spent in FY2025, $89.95 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Community Services for ChildrenAllentown, PA · revenue $255M · programs 97.7% · FY2025
- Biola UniversityLA Mirada, CA · revenue $258M · programs 85.1% · FY2025
- Early Learning Coalition of Miami Dade MonroeCoral Gables, FL · revenue $250M · programs 96.7% · FY2025
- Campbell UniversityBuies Creek, NC · revenue $258M · programs 88.4% · FY2025
- Wheaton CollegeWheaton, IL · revenue $249M · programs 77.0% · FY2025
Questions people ask
How much of Drake University's spending goes to programs?
In the fiscal year ending June 30, 2025, Drake University reported that 89.9% of its $246.3 million in expenses went to program services, 8.6% to management and general and 1.4% to fundraising (Form 990, Part IX).
How much does Drake University pay its top executive?
The largest total compensation Drake University reported for one person in the fiscal year ending June 30, 2025 was $813,542, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Drake University get its money?
Of $256.3 million in revenue in the fiscal year ending June 30, 2025, 15.3% came from contributions and grants (including 6.2% from government grants) and 73.1% from program service revenue (Form 990, Part VIII).
Is Drake University a registered charity?
The IRS lists EIN 42-0680460 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202640349349301204 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202530559349301023 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202401289349303660 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202310629349301456 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202241339349306119 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202120689349300527 · read the filing
All filings for EIN 42-0680460: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.