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 |
Form 990 filings
The returns filed by Drake University (EIN 42-0680460), 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 | $39,204,664 | 15% |
| Program service revenue | $187,424,274 | 73% |
| Other revenue | $29,648,451 | 12% |
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 73% 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.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (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 (in IA) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
Similar organizations
- St Ambrose University — Davenport, IA · $230,527,484
- State University of Iowa Foundation — Iowa City, IA · $202,489,213
- Iowa State University Foundation — Ames, IA · $196,181,104
- University of Dubuque — Dubuque, IA · $178,745,662
- The Trustees of Grinnell College — Grinnell, IA · $361,944,495
- Luther College — Decorah, IA · $120,773,398
- Des Moines University Osteopathic Medical Center — Wdm, IA · $108,194,264
- Palmer College Foundation — Davenport, IA · $107,212,971
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.
Think something here is wrong or should be removed? Use the contact form — we act on removal requests within 30 days.