Alverno College
3400 S 43rd St, Milwaukee, WI · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $49,417,081 | $44,636,468 | $65,304,158 |
| FY2024 | $42,474,928 | $53,802,253 | $58,926,100 |
| FY2023 | $41,560,381 | $55,098,893 | $67,880,938 |
| FY2022 | $50,194,378 | $53,907,225 | $77,323,637 |
| FY2021 | $57,198,043 | $52,681,453 | $88,925,072 |
| FY2020 | $48,396,806 | $50,712,775 | $77,597,872 |
| FY2019 | $50,194,339 | $52,057,858 | $78,991,848 |
| FY2018 | $49,967,181 | $52,388,696 | $80,094,037 |
| FY2017 | $57,520,657 | $53,171,490 | $81,190,230 |
| FY2016 | $53,699,207 | $55,990,794 | $78,318,904 |
| FY2015 | $57,514,351 | $56,930,830 | $82,153,546 |
| FY2014 | $66,236,953 | $56,744,927 | $82,073,077 |
| FY2013 | $61,572,809 | $53,869,264 | $71,163,661 |
| FY2012 | $60,627,442 | $54,533,603 | $61,459,430 |
Form 990 filings
The returns filed by Alverno College (EIN 39-0806263), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $16,203,942 | 33% |
| Program service revenue | $30,999,939 | 63% |
| Other revenue | $2,213,200 | 4% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $39,879,133 | 89% |
| Management & general | $3,962,967 | 9% |
| Fundraising | $794,368 | 2% |
What the numbers show
- Program service revenue made up 63% of total revenue in FY2025.
- Program services accounted for 89% of functional expenses, management & general 9%, and fundraising 2%.
- 89% of functional expenses went to program services in FY2025. That is higher than 71.4% of 56 Education organizations in WI.
- Net assets covered about 17.6 months of expenses at the end of the reporting year. That puts it in the 44th percentile among 988 Education organizations in WI.
- Total revenue was higher than 98.2% of 996 Education organizations in WI.
- Total revenue fell from $60,627,442 in FY2012 to $49,417,081 in FY2025. Revenue increased in 7 and decreased in 6 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 7 of 14 reported years (FY2016, FY2018, FY2019, FY2020, FY2022, FY2023, FY2024).
- The highest revenue on record here is $66,236,953 in FY2014.
- Net assets grew from $61,459,430 to $65,304,158 between FY2012 and FY2025.
- Contributions and grants made up 17% of revenue in FY2012 and 33% in FY2025.
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
ALVERNO OFFERS UNDERGRADUATE PROGRAMS FOR WOMEN, AND ADULT AND GRADUATE PROGRAMS FOR WOMEN & MEN.
IRS status
| Ruling year | 1946 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B420 — Education (in WI) |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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