ST OLAF COLLEGE
1520 SAINT OLAF AVE, NORTHFIELD, MN · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $333,072,638 | $295,499,530 | $1,057,990,059 |
| FY2024 | $299,892,996 | $272,557,639 | $997,884,084 |
| FY2023 | $251,573,289 | $252,822,741 | $906,186,725 |
| FY2022 | $293,547,623 | $233,491,087 | $889,161,961 |
| FY2021 | $240,994,923 | $215,281,780 | $896,613,358 |
| FY2020 | $211,758,083 | $217,620,415 | $701,076,593 |
| FY2019 | $243,545,236 | $210,254,505 | $728,479,374 |
| FY2018 | $284,581,123 | $199,225,561 | $722,868,813 |
| FY2017 | $214,188,884 | $191,471,549 | $676,999,293 |
| FY2016 | $198,530,242 | $186,618,536 | $622,752,941 |
| FY2015 | $205,759,306 | $175,765,833 | $634,190,188 |
| FY2014 | $203,000,691 | $173,850,295 | $613,608,905 |
| FY2013 | $193,031,648 | $170,861,763 | $551,590,725 |
| FY2012 | $183,553,105 | $163,787,047 | $494,186,390 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $31,972,935 | 12% |
| Program service revenue | $236,226,339 | 88% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $274,090,811 | 93% |
| Management & general | $14,834,653 | 5% |
| Fundraising | $6,574,066 | 2% |
What the numbers show
- Program service revenue made up 88% of total revenue in FY2025.
- Program services accounted for 93% of functional expenses, management & general 5%, and fundraising 2%.
- 93% of functional expenses went to program services in FY2025. That is higher than 89% of 73 Education organizations in MN.
- Net assets covered about 43 months of expenses at the end of the reporting year. That puts it in the 75th percentile among 1312 Education organizations in MN.
- Total revenue was higher than 99.8% of 1322 Education organizations in MN.
- Total revenue rose from $183,553,105 in FY2012 to $333,072,638 in FY2025, Revenue increased in 9 and decreased in 4 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 2 of 14 reported years (FY2020, FY2023).
- Net assets grew from $494,186,390 to $1,057,990,059 between FY2012 and FY2025.
- Donations are generally tax-deductible (public charity).
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
ST. OLAF COLLEGE CHALLENGES STUDENTS TO EXCEL IN THE LIBERAL ARTS, EXAMINE FAITH AND VALUES, AND EXPLORE MEANINGFUL VOCATION IN AN INCLUSIVE, GLOBALLY ENGAGED COMMUNITY NOURISHED BY LUTHERAN TRADITION.
IRS status
| Ruling year | 1934 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B420 — Education (in MN) |
| Donations | Donations are generally tax-deductible (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 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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