DRAKE UNIVERSITY
2507 UNIVERSITY AVE, DES MOINES, IA · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $256,277,389 | $246,295,918 | $549,404,684 |
| FY2024 | $263,054,627 | $250,461,044 | $521,451,982 |
| FY2023 | $259,104,983 | $246,344,127 | $477,607,656 |
| FY2022 | $252,974,293 | $237,997,226 | $443,877,485 |
| FY2021 | $245,392,452 | $217,987,751 | $464,119,747 |
| FY2020 | $222,285,025 | $221,046,779 | $390,870,514 |
| FY2019 | $231,025,109 | $219,093,450 | $392,704,281 |
| FY2018 | $230,909,154 | $212,574,693 | $378,908,545 |
| FY2017 | $212,980,767 | $203,286,802 | $369,675,179 |
| FY2016 | $207,615,854 | $197,674,339 | $342,067,436 |
| FY2015 | $224,622,628 | $193,457,873 | $343,296,129 |
| FY2014 | $196,892,372 | $188,041,306 | $325,045,402 |
| FY2013 | $10,456,307 | $7,312,921 | $296,888,690 |
| FY2012 | $180,631,952 | $175,364,082 | $269,979,327 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $39,204,664 | 17% |
| Program service revenue | $187,424,274 | 83% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $221,542,092 | 90% |
| Management & general | $21,246,200 | 9% |
| Fundraising | $3,507,626 | 1% |
What the numbers show
- Program service revenue made up 83% of total revenue in FY2025.
- Program services accounted for 90% of functional expenses, management & general 9%, and fundraising 1%.
- 90% of functional expenses went to program services in FY2025. That is higher than 73.7% of 38 Education organizations in IA.
- Net assets covered about 26.8 months of expenses at the end of the reporting year. That puts it in the 49th percentile among 635 Education organizations in IA.
- Total revenue was higher than 99.8% of 643 Education organizations in IA.
- Total revenue rose from $180,631,952 in FY2012 to $256,277,389 in FY2025, Revenue increased in 9 and decreased in 4 of 13 year-over-year comparisons.
- Revenue covered expenses in each of the 14 reported years, FY2012 to FY2025.
- The highest revenue on record here is $263,054,627 in FY2024.
- Net assets grew from $269,979,327 to $549,404,684 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
IRS status
| Ruling year | 1950 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B430 — Education |
| 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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