DRAKE UNIVERSITY: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- DRAKE UNIVERSITY (EIN 42-0680460)
- Tax period
- 2010-06-01 to 2011-05-31
- Filed
- 2011-10-12
- IRS object ID
- 201132859349300408
- Schema version
- 2010v3.4
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule B
- Schedule C
- Schedule D
- Schedule E
- Schedule G
- Schedule I
- Schedule J
- Schedule K
- Schedule M
- Schedule O
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-10-12T10:52:27-05:00 | Timestamp |
| Tax Period End Date | 2011-05-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DENMAN & COMPANY LLP | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1601 22ND STREET SUITE 400 | AddressLine1 |
| City | WEST DES MOINES | City |
| State | IA | State |
| ZIP Code | 502661453 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-06-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 420680460 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DRAKE UNIVERSITY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | DRAK | NameControl |
| Phone | 5152713112 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2507 UNIVERSITY AVENUE | AddressLine1 |
| City | DES MOINES | City |
| State | IA | State |
| ZIP Code | 503114505 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | VICTORIA F PAYSEUR | Name |
| Title | VP BUSINESS & FINANCE | Title |
| Phone | 5152713112 | Phone |
| Date Signed | 2011-10-11 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | BRUCE CAHILL | Name |
| Phone | 5152258400 | Phone |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | DR DAVID E MAXWELL | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2507 UNIVERSITY AVENUE | AddressLine1 |
| City | DES MOINES | City |
| State | IA | State |
| ZIP Code | 503114505 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 238776987 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.DRAKE.EDU | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1881 | YearFormation |
| State Legal Domicile | IA | StateLegalDomicile |
| Activity Or Mission Description | DRAKE'S MISSION IS TO PROVIDE AN EXCEPTIONAL LEARNING ENVIRONMENT THAT PREPARES STUDENTS FOR MEANINGFUL PERSONAL LIVES, PROFESSIONAL ACCOMPLISHMENTS, AND RESPONSIBLE GLOBAL CITIZENSHIP. THE DRAKE EXPERIENCE IS DISTINGUISHED BY COLLABORATIVE LEARNING AMONG STUDENTS, FACULTY, AND STAFF AND BY THE INTEGRATION OF THE LIBERAL ARTS AND SCIENCES WITH PROFESSIONAL PREPARATION. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 38 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 37 | NbrIndependentVotingMembers |
| Total Nbr Employees | 3405 | TotalNbrEmployees |
| Total Nbr Volunteers | 750 | TotalNbrVolunteers |
| Total Gross UBI | 255131 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 60410 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 25915702 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 32610375 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 143485394 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 150057911 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 1261770 | InvestmentIncomePriorYear |
| Investment Income Current Year | 4206977 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 3444240 | OtherRevenuePriorYear |
| Other Revenue Current Year | 2326532 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 174107106 | TotalRevenuePriorYear |
| Total Revenue Current Year | 189201795 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 45641090 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 48496172 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 74475508 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 76845940 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 122772 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 33267 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 4356933 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 44339678 | OtherExpensePriorYear |
| Other Expenses Current Year | 46542966 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 164579048 | TotalExpensesPriorYear |
| Total Expenses Current Year | 171918345 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 9528058 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 17283450 | RevenuesLessExpensesCY |
| Total Assets BOY | 361647833 | TotalAssetsBOY |
| Total Assets EOY | 386039289 | TotalAssetsEOY |
| Total Liabilities BOY | 118252370 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 111007236 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 243395463 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 275032053 | NetAssetsOrFundBalancesEOY |
| Info In Schedule O Part III | X | InfoInScheduleOPartIII |
| Mission Description | DRAKE'S MISSION IS TO PROVIDE AN EXCEPTIONAL LEARNING ENVIRONMENT THAT PREPARES STUDENTS FOR MEANINGFUL PERSONAL LIVES, PROFESSIONAL ACCOMPLISHMENTS, AND RESPONSIBLE GLOBAL CITIZENSHIP. THE DRAKE EXPERIENCE IS DISTINGUISHED BY COLLABORATIVE LEARNING AMONG STUDENTS, FACULTY, AND STAFF AND BY THE INTEGRATION OF THE LIBERAL ARTS AND SCIENCES WITH PROFESSIONAL PREPARATION. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 152746666 | Expense |
| Grants | 48496172 | Grants |
| Revenue | 150078382 | Revenue |
| Description | DRAKE UNIVERSITY IS A NATIONAL COEDUCATIONAL, INDEPENDENT AND PRIVATE UNIVERSITY WITH OVER 5,000 STUDENTS. DRAKE IS ACCREDITED BY THE HIGHER LEARNING COMMISSION OF THE NORTH CENTRAL ASSOCIATION OF SCHOOLS AND COLLEGES. | Description |
| Total Program Service Expense | 152746666 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 1 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 1 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 1 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 1 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 1 | ProfessionalFundraising |
| Fundraising Activities | 1 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 1 | TaxExemptBonds |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBonds |
| Escrow Account | 0 | EscrowAccount |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuer |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 1 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Info In Schedule O Part V | X | InfoInScheduleOPartV |
| Number Forms Transmitted With1096 | 13782 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 3405 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 1 | UnrelatedBusinessIncome |
| Form990-T Filed | 1 | Form990-TFiled |
| Foreign Financial Account | 1 | ForeignFinancialAccount |
| Name Of Foreign Country | CA | NameOfForeignCountry |
| Name Of Foreign Country | CJ | NameOfForeignCountry |
| Name Of Foreign Country | OC | NameOfForeignCountry |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 1 | QuidProQuoContributions |
| Quid Pro Quo Disclosure | 1 | QuidProQuoDisclosure |
| Form8282 Property Disposed Of | 1 | Form8282PropertyDisposedOf |
| Number Of8282 Filed | 1 | NumberOf8282Filed |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 38 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 37 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 1 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 1 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Person | VICTORIA PAYSEUR | NamePerson |
| Telephone Number | 5152713112 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 2507 UNIVERSITY AVENUE | AddressLine1 |
| City | DES MOINES | City |
| State | IA | State |
| ZIP Code | 50311 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (57 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| GREG ABEL | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| ANN G ANDERSON | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| CHRISTIN ANDERSON | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| HERBERT M BAUM | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| ROGER K BROOKS | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| PATRICIA HINES COWNIE | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| RICHARD S CUSAC | |||||||
| VICE CHAIR | 1.00 | X | 0 | 0 | 0 | X | |
| SALLY DAVIS | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| DONALD F DAVIDSON | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| DONALD LEE DECKER | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| WILLIAM W DRURY JR | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| CHARLES DUCHEN | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| MARK ERNST | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| JAMES H EWOLDT | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| PEGGY FISHER | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| DONALD H FLETCHER | |||||||
| CHAIRMAN | 1.00 | X | 0 | 0 | 0 | X | |
| DAVID GOLDER | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| KAREN GOODENOW | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| DICK HARTIG | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| CAIN HAYES | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| ANNE HILTON | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| JAMES W HUBBELL III | |||||||
| VICE CHAIR | 1.00 | X | 0 | 0 | 0 | X | |
| DANIEL E JACOBI | |||||||
| VICE CHAIR | 1.00 | X | 0 | 0 | 0 | X | |
| ELIZABETH S JACOBS | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| SCOTT JOHNSON | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| DR FRANCES BARTLETT KINNE | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| WILLIAM C KNAPP | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| WILLIAM CLARE KNAPP II | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| CATHRYN LACY | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| JUSTICE DOUGLAS S LANG | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| PAUL W LEAVITT | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| CYNTHIA LESHER | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| DAVID MAXWELL | |||||||
| PRESIDENT | 40.00 | X | 369977 | 0 | 195590 | X | |
| DWIGHT D OPPERMAN | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| SUKU RADIA | |||||||
| VICE CHAIR | 1.00 | X | 0 | 0 | 0 | X | |
| THOMAS J ROSSLEY | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| DEBBIE SCRIPPS | |||||||
| VICE CHAIR | 1.00 | X | 0 | 0 | 0 | X | |
| JOHN JOSEPH SHUFELDT JR | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| WILLIAM E SMITH | |||||||
| VICE CHAIR | 1.00 | X | 0 | 0 | 0 | X | |
| E THOMAS SULLIVAN | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| KERMIT SUTTON | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| RUDOLPH D TREBELS | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| BENJAMIN B ULLEM | |||||||
| VICE CHAIR | 1.00 | X | 0 | 0 | 0 | X | |
| LARRY D ZIMPLEMAN | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| JOHN AUGUST | |||||||
| VICE CHAIR | 1.00 | X | 0 | 0 | 0 | X | |
| JAMES BRUNER | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| JACK C PESTER | |||||||
| DIRECTOR | 1.00 | X | 0 | 0 | 0 | ||
| VICTORIA PAYSEUR | |||||||
| VP - BUSINESS & FINANCE | 40.00 | 232427 | 0 | 23749 | X | ||
| LINDA RYAN | |||||||
| SECRETARY | 40.00 | 74119 | 0 | 10984 | X | ||
| MICHAEL RENNER | |||||||
| PROVOST | 40.00 | 195868 | 0 | 26677 | X | ||
| JOHN SMITH | |||||||
| VP - INSTITUTIONAL ADVANCE | 40.00 | 161328 | 0 | 23283 | X | ||
| THOMAS DELAHUNT III | |||||||
| VP - ADMISSIONS & FINANCIAL AID | 40.00 | 168459 | 0 | 23852 | X | ||
| MARK PHELPS | |||||||
| HEAD COACH - MEN'S BASKETBALL | 40.00 | 276296 | 0 | 26284 | X | ||
| ALLAN VESTAL | |||||||
| DEAN - LAW SCHOOL | 40.00 | 244149 | 0 | 30257 | X | ||
| NEIL HAMILTON | |||||||
| PROFESSOR OF LAW | 40.00 | 218940 | 0 | 26594 | X | ||
| GARRY FRANK | |||||||
| PROFESSOR OF PUBLIC ADMINISTRATION | 40.00 | 195264 | 0 | 19004 | X | ||
| DAVID WALKER | |||||||
| PROFESSOR OF LAW | 40.00 | 194654 | 0 | 21676 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 2331481 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 427950 | TotalOtherCompensation |
| Number Individuals GT100 K | 114 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| SODEXO INC & AFFILIATES | |||||
| PO BOX 7006 | CHICAGO | IL | 60673 | DINING & FACILITY SERVICES | 7310096 |
| WEITZ COMPANY INC | |||||
| 5901 THORNTON AVENUE | DES MOINES | IA | 50321 | CONSTRUCTION SERVICES | 4763296 |
| MIDAMERICAN ENERGY COMPANY | |||||
| PO BOX 657 | DES MOINES | IA | 50306 | ENERGY SERVICES | 2027429 |
| DES MOINES INDEPENDENT SCHOOL DISTRICT | |||||
| 1801 16TH STREET | DES MOINES | IA | 50314 | HEAD START PROGRAM | 1974191 |
| LAMAIR-MULOCK-CONDON COMPANY | |||||
| 4200 UNIVERSITY AVENUE SUITE 200 | WEST DES MOINES | IA | 50266 | INSURANCE | 1070796 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 68 | NumberOfContractorsGT100K |
| Fundraising Events | 44600 | FundraisingEvents |
| Government Grants | 9528261 | GovernmentGrants |
| All Other Contributions | 23037514 | AllOtherContributions |
| Noncash Contributions | 3305760 | NoncashContributions |
| Total Contributions | 32610375 | TotalContributions |
Program Service Revenue ProgramServiceRevenue (5 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome | ExclusionExclusionAmount |
|---|---|---|---|---|
| STUDENT TUITION & FEES | 611710 | 128567015 | 128567015 | |
| CONTRACT MEALS - FOOD | 722100 | 8005083 | $8,005,083 | |
| CONTRACT INCOME - RES | 721310 | 6915824 | $6,915,824 | |
| SPORTS INCOME | 711210 | 4108228 | 4108228 | |
| PROGRAM INC - CTR PROF | 611710 | 551724 | $551,724 |
Total Oth Program Service Revenue TotalOthProgramServiceRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1910037 | TotalRevenueColumn |
| Related Or Exempt Function Income | 473986 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 233237 | UnrelatedBusinessRevenue |
| Exclusion | $1,202,814 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 150057911 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2407873 | TotalRevenueColumn |
| Exclusion | $2,407,873 | ExclusionAmount |
Royalties Revenue RoyaltiesRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 26581 | TotalRevenueColumn |
| Exclusion | $26,581 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 1141931 | Real |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 631183 | Real |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 510748 | Real |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 510748 | TotalRevenueColumn |
| Exclusion | $510,748 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 50687044 | Securities |
| Other | 6000 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 48750230 | Securities |
| Other | 143710 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | 1936814 | Securities |
| Other | -137710 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 1799104 | TotalRevenueColumn |
| Exclusion | $1,799,104 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Fundraising Events | 26385 | GrossIncomeFundraisingEvents |
| Cntrbtns Rprtd Fundraising Events | 44600 | CntrbtnsRprtdFundraisingEvents |
| Fundraising Direct Expenses | 22573 | FundraisingDirectExpenses |
Net Income From Fundraising Events NetIncomeFromFundraisingEvents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 3812 | TotalRevenueColumn |
| Exclusion | $3,812 | ExclusionAmount |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Income Gaming | 10378 | GrossIncomeGaming |
| Gaming Direct Expenses | 27496 | GamingDirectExpenses |
Net Income From Gaming NetIncomeFromGaming
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -17118 | TotalRevenueColumn |
| Exclusion | -$17,118 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc (3 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Unrelated Business RevenueUnrelatedBusinessRevenue | ExclusionExclusionAmount |
|---|---|---|---|---|
| OTHER INCOME | 611710 | 1782038 | 1423 | $1,780,615 |
| ALUMNI FEES | 611710 | 15130 | 15130 | |
| ATHLETIC PHOTO SALES | 453220 | 5341 | 5341 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 1802509 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 189201795 | TotalRevenueColumn |
| Related Or Exempt Function Income | 133149229 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 255131 | UnrelatedBusinessRevenue |
| Exclusion | $23,187,060 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 48496172 | Total |
| Program Services | 48496172 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1433713 | Total |
| Program Services | 401953 | ProgramServices |
| Management And General | 855276 | ManagementAndGeneral |
| Fundraising | 176484 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 57393767 | Total |
| Program Services | 51049777 | ProgramServices |
| Management And General | 4396505 | ManagementAndGeneral |
| Fundraising | 1947485 | Fundraising |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3886827 | Total |
| Program Services | 3113560 | ProgramServices |
| Management And General | 640845 | ManagementAndGeneral |
| Fundraising | 132422 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 10121394 | Total |
| Program Services | 6111262 | ProgramServices |
| Management And General | 3516668 | ManagementAndGeneral |
| Fundraising | 493464 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4010239 | Total |
| Program Services | 3189607 | ProgramServices |
| Management And General | 679927 | ManagementAndGeneral |
| Fundraising | 140705 | Fundraising |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 295146 | Total |
| Program Services | 10469 | ProgramServices |
| Management And General | 284677 | ManagementAndGeneral |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 217814 | Total |
| Management And General | 217814 | ManagementAndGeneral |
Fees For Services Lobbying FeesForServicesLobbying
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 159421 | Total |
| Program Services | 159421 | ProgramServices |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 33267 | Total |
| Fundraising | 33267 | Fundraising |
Fees For Services Invst Mgmnt Fees FeesForServicesInvstMgmntFees
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 78347 | Total |
| Management And General | 78347 | ManagementAndGeneral |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5685953 | Total |
| Program Services | 4858697 | ProgramServices |
| Management And General | 519753 | ManagementAndGeneral |
| Fundraising | 307503 | Fundraising |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 367132 | Total |
| Program Services | 188884 | ProgramServices |
| Management And General | 178248 | ManagementAndGeneral |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1794868 | Total |
| Program Services | 1020546 | ProgramServices |
| Management And General | 321951 | ManagementAndGeneral |
| Fundraising | 452371 | Fundraising |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3057552 | Total |
| Program Services | 2789438 | ProgramServices |
| Management And General | 48307 | ManagementAndGeneral |
| Fundraising | 219807 | Fundraising |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2394171 | Total |
| Program Services | 2394171 | ProgramServices |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 7349950 | Total |
| Program Services | 7228767 | ProgramServices |
| Management And General | 121183 | ManagementAndGeneral |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 668960 | Total |
| Program Services | 19075 | ProgramServices |
| Management And General | 649885 | ManagementAndGeneral |
Other Expenses OtherExpenses (5 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| CONTRACTS & LEASES | 9862457 | 9295219 | 527759 | 39479 |
| DUES & SUBSCRIPTIONS | 2954817 | 2580639 | 358273 | 15905 |
| UTILITIES | 2211862 | 2082847 | 129015 | |
| REPAIRS, MAINTENANCE, S | 2149596 | 1923171 | 84203 | 142222 |
| SUPPLIES | 1489875 | 1253013 | 188174 | 48688 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5805045 | Total |
| Program Services | 4579978 | ProgramServices |
| Management And General | 1017936 | ManagementAndGeneral |
| Fundraising | 207131 | Fundraising |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 171918345 | Total |
| Program Services | 152746666 | ProgramServices |
| Management And General | 14814746 | ManagementAndGeneral |
| Fundraising | 4356933 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 21307271 | BOY |
| EOY | 23756659 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 20695327 | BOY |
| EOY | 15333605 | EOY |
Pledges And Grants Receivable PledgesAndGrantsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 11794240 | BOY |
| EOY | 17787907 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5080191 | BOY |
| EOY | 4196147 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 16367880 | BOY |
| EOY | 15006115 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 229457 | BOY |
| EOY | 255613 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1130023 | BOY |
| EOY | 1431139 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 260683220 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 90807312 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 167515363 | BOY |
| EOY | 169875908 | EOY |
Investments Pub Traded Securities InvestmentsPubTradedSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 79752969 | BOY |
| EOY | 93096021 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 36379697 | BOY |
| EOY | 43954130 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1395415 | BOY |
| EOY | 1346045 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 361647833 | BOY |
| EOY | 386039289 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 23886641 | BOY |
| EOY | 23128040 | EOY |
Grants Payable GrantsPayable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 13280053 | BOY |
| EOY | 11947140 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 7838660 | BOY |
| EOY | 8023974 | EOY |
Tax Exempt Bond Liabilities TaxExemptBondLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 62600000 | BOY |
| EOY | 56730000 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 10647016 | BOY |
| EOY | 11178082 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 118252370 | BOY |
| EOY | 111007236 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 125044678 | BOY |
| EOY | 138514527 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 22934755 | BOY |
| EOY | 34420639 | EOY |
Permanently Restricted Net Assets PermanentlyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 95416030 | BOY |
| EOY | 102096887 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 243395463 | BOY |
| EOY | 275032053 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 361647833 | BOY |
| EOY | 386039289 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 17283450 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 14353140 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 1 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 1 | FederalGrantAuditRequired |
| Federal Grant Audit Performed | 1 | FederalGrantAuditPerformed |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| School170b1 Aii | X | School170b1Aii |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Volunteers | 0 | Volunteers |
| Paid Staff Or Management | 0 | PaidStaffOrManagement |
| Media Advertisements | 0 | MediaAdvertisements |
| Mailings Members | 0 | MailingsMembers |
| Publications Or Broadcast | 0 | PublicationsOrBroadcast |
| Grants Other Organizations | 1 | GrantsOtherOrganizations |
| Grants Other Organizations | $5,965 | GrantsOtherOrganizationsAmount |
| Direct Contact Legislators | 1 | DirectContactLegislators |
| Direct Contact Legislators | $122,765 | DirectContactLegislatorsAmount |
| Rallies Demonstrations | 0 | RalliesDemonstrations |
| Other Activities | 1 | OtherActivities |
| Other Activities | $30,691 | OtherActivitiesAmount |
| Total Lobbying Expenditures IIB | 159421 | TotalLobbyingExpendituresIIB |
| Not Described In501c3 | 0 | NotDescribedIn501c3 |
Form990 Schedule C Part IV Form990ScheduleCPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | EXPLANATION OF OTHER LOBBYING ACTIVITIES: | Identifier |
| Return Reference | PART II-B, LINE 1I: | ReturnReference |
| Explanation | DRAKE UNIVERSITY HAS RETAINED THE SERVICES OF A WASHINGTON DC LAW FIRM TO MAINTAIN DIRECT CONTACT WITH LEGISLATORS, STAFFS, AND GOVERNMENT OFFICIALS FOR THE PURPOSE OF COMMUNICATING DRAKE FEDERAL FUNDING PRIORITIES. THE FIRM ALSO ADVISES DRAKE ON PUBLIC PRIVATE PARTNERSHIP WITH THE GOVERNMENT AND PROVIDES GENERAL INFORMATION ABOUT POLICY RELATED TO EDUCATION AND EDUCATION FUNDING. | Explanation |
Schedule D IRS990ScheduleD
Current Year CurrentYear
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 135714667 | BeginningOfYearBalance |
| Contributions | 5217057 | Contributions |
| Investment Earnings Or Losses | 19399641 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 2803072 | GrantsOrScholarships |
| Other Expenditures | 3896625 | OtherExpenditures |
| Administrative Expenses | 226874 | AdministrativeExpenses |
| End Of Year Balance | 153404794 | EndOfYearBalance |
Current Year Minus1 Year CurrentYearMinus1Year
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 115406123 | BeginningOfYearBalance |
| Contributions | 12142745 | Contributions |
| Investment Earnings Or Losses | 14692235 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 2793215 | GrantsOrScholarships |
| Other Expenditures | 3508520 | OtherExpenditures |
| Administrative Expenses | 224701 | AdministrativeExpenses |
| End Of Year Balance | 135714667 | EndOfYearBalance |
Current Year Minus2 Years CurrentYearMinus2Years
| Field | Value | IRS element (for citing) |
|---|---|---|
| Beginning Of Year Balance | 146217248 | BeginningOfYearBalance |
| Contributions | 6508576 | Contributions |
| Investment Earnings Or Losses | -30729414 | InvestmentEarningsOrLosses |
| Grants Or Scholarships | 5460039 | GrantsOrScholarships |
| Other Expenditures | 815005 | OtherExpenditures |
| Administrative Expenses | 315243 | AdministrativeExpenses |
| End Of Year Balance | 115406123 | EndOfYearBalance |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated EOY Balance | 0.28420 | BoardDesignatedEOYBalance |
| Permanent Endowment EOY Balance | 0.62200 | PermanentEndowmentEOYBalance |
| Term Endowment EOY Balance | 0.09380 | TermEndowmentEOYBalance |
| Endowments Held By Unrelated Orgs | 1 | EndowmentsHeldByUnrelatedOrgs |
| Endowments Held By Related Orgs | 0 | EndowmentsHeldByRelatedOrgs |
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 8031054 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 23436960 | OtherCostOrOtherBasis |
| Book Value | 31468014 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 172099388 | OtherCostOrOtherBasis |
| Depreciation | 56219316 | Depreciation |
| Book Value | 115880072 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 55637033 | OtherCostOrOtherBasis |
| Depreciation | 34587996 | Depreciation |
| Book Value | 21049037 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 1478785 | OtherCostOrOtherBasis |
| Book Value | 1478785 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 169875908 | TotalOfBookValueLandBuildings |
Other Securities OtherSecurities (3 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| CASH SURRENDER VALUE - LIFE INSURANCE | 4406221 | F |
| FUNDS HELD IN TRUST BY OTHERS | 9551224 | F |
| PRIVATE EQUITY FUNDS | 29996685 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 43954130 | TotalOfBookValueSecurities |
Other Liabilities OtherLiabilities (5 entries)
| DescriptionDescription | AmountAmount |
|---|---|
| ANNUITIES PAYABLE | $3,370,776 |
| INTEREST RATE SWAP AGREEMENT LIABILITY | $6,152,635 |
| REAL ESTATE DEPOSITS | $95,312 |
| AGENCY FUNDS | $109,529 |
| FIN 47 LIABILITY | $1,449,830 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Amounts | 11178082 | TotalOfAmounts |
| Total Revenue | 189201795 | TotalRevenue |
| Total Expenses | 171918345 | TotalExpenses |
| Excess Or Deficit For Year | 17283450 | ExcessOrDeficitForYear |
| Net Unrealized GL On Investments | 14960456 | NetUnrealizedGLOnInvestments |
| Other | -$607,316 | OtherAmount |
| Total Adjustments | 14353140 | TotalAdjustments |
| Excess Or Deficit Per FS | 31636590 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 155108832 | TotRevenueEtcAuditedFinclStmt |
| Net Unrealized Gains Investments | 14960456 | NetUnrealizedGainsInvestments |
| Other Revenues | -607316 | OtherRevenues |
| Revenue Not Rptd F990 | 14353140 | RevenueNotRptdF990 |
| Revenue Subtotal | 140755692 | RevenueSubtotal |
| Other Revenues Not Included | 48446103 | OtherRevenuesNotIncluded |
| Revenue Not Rptd On Fin Stmt | 48446103 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 189201795 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 123472242 | TotExpensesEtcAuditedFinclStmt |
| Other Expenses Included | 50069 | OtherExpensesIncluded |
| Expenses Not Rptd F990 | 50069 | ExpensesNotRptdF990 |
| Expenses Subtotal | 123422173 | ExpensesSubtotal |
| Other Expenses Not Included | 48496172 | OtherExpensesNotIncluded |
| Expenses Not Rptd On Fin Stmt | 48496172 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 171918345 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV (6 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: | PART V, LINE 4: | THE UNIVERSITY'S ENDOWMENT CONSISTS OF DONOR GIFTS PLUS OTHER BOARD DESIGNATED FUNDS WHICH ARE DEEMED TO BE HELD AND INVESTED IN PERPETUITY. THE BOARD OF TRUSTEES APPROVES A SPENDING POLICY ANNUALLY FOR THE ENDOWMENT. ENDOWMENT EARNINGS ARE SPENT ON SCHOLARSHIPS AND AWARDS, GENERAL EDUCATION SUPPORT AND LIBRARIES, GENERAL UNIVERSITY OPERATIONS, AND FACULTY CHAIRS AND PROFESSORSHIPS IN ACCORDANCE WITH DONOR STIPULATIONS AND BOARD RESTRICTIONS. |
| PART XI, LINE 8 - OTHER ADJUSTMENTS: | CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -365,323. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS -241,993. | |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -365,323. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS -241,993. | |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS 48,496,172. FUNDRAISING EVENT EXPENSES -22,573. RAFFLE EXPENSES -27,496. | |
| PART XIII, LINE 2D - OTHER ADJUSTMENTS: | FUNDRAISING EVENT EXPENSES 22,573. RAFFLE EXPENSES 27,496. | |
| PART XIII, LINE 4B - OTHER ADJUSTMENTS: | SCHOLARSHIPS 48,496,172. |
Schedule E IRS990ScheduleE
| Field | Value | IRS element (for citing) |
|---|---|---|
| Nondiscriminatory Policy Stmt | 1 | NondiscriminatoryPolicyStmt |
| Policy Statement In Brochures Etc | 1 | PolicyStatementInBrochuresEtc |
| Policy Publ Via Broadcast Media | 1 | PolicyPublViaBroadcastMedia |
| Maint Racial Composition Records | 1 | MaintRacialCompositionRecords |
| Maint Scholarships Records | 1 | MaintScholarshipsRecords |
| Maint Copies Of Brochures Etc | 1 | MaintCopiesOfBrochuresEtc |
| Maint Copies Of All Solicitations | 1 | MaintCopiesOfAllSolicitations |
| Discriminate Race Students Rights | 0 | DiscriminateRaceStudentsRights |
| Discriminate Race Admiss Policies | 0 | DiscriminateRaceAdmissPolicies |
| Discriminate Race Emplmn Faculty | 0 | DiscriminateRaceEmplmnFaculty |
| Discriminate Race Scholarships | 0 | DiscriminateRaceScholarships |
| Discriminate Race Educ Policies | 0 | DiscriminateRaceEducPolicies |
| Discriminate Race Use Of Fclts | 0 | DiscriminateRaceUseOfFclts |
| Discriminate Race Athletic Prog | 0 | DiscriminateRaceAthleticProg |
| Discriminate Race Other Acty | 0 | DiscriminateRaceOtherActy |
| Government Financial Aid Received | 1 | GovernmentFinancialAidReceived |
| Government Financial Aid Revoked | 0 | GovernmentFinancialAidRevoked |
| Compliance With Rev Proc7550 | 1 | ComplianceWithRevProc7550 |
Form990 Schedule E Part II Form990ScheduleEPartII (2 entries)
| IdentifierIdentifier | Return ReferenceReturnReference | ExplanationExplanation |
|---|---|---|
| EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION | SCHEDULE E, PART I, LINE 3 | DRAKE UNIVERSITY DOES NOT UNLAWFULLY DISCRIMINATE ON THE BASIS OF SEX, COLOR, RELIGION, NATIONAL OR ETHNIC ORIGINS, AGE, SEXUAL ORIENTATION, DISABILITY OR VETERAN DISABILITY STATUS IN ADMINISTRATION OF ITS POLICIES ENCOMPASSING THE ENTIRE UNIVERSITY. DRAKE RESERVES THE RIGHT TO TAKE AFFIRMATIVE ACTION IN CONNECTION WITH THIS POLICY. |
| EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE | SCHEDULE E, PART I, LINE 6 | DRAKE RECEIVES TITLE IV FINANCIAL AID FOR STUDENTS FROM THE DEPARTMENT OF EDUCATION PELL GRANT PROGRAM, SEOG, WORK STUDY PROGRAM, AND PERKINS LOAN PROGRAM. |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| Mail Solicitations | X | MailSolicitations |
| Email Solicitations | X | EmailSolicitations |
| Phone Solicitations | X | PhoneSolicitations |
| In Person Solicitations | X | InPersonSolicitations |
| Solicitation Of Non Govt Grants | X | SolicitationOfNonGovtGrants |
| Solicitation Of Govt Grants | X | SolicitationOfGovtGrants |
| Special Fundraising Events | X | SpecialFundraisingEvents |
| Agreement Ref Fundraising | 1 | AgreementRefFundraising |
Fundraiser Activity Information FundraiserActivityInformation
Name Of Organization NameOfOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BENTZ WHALEY FLESSNER INC | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 7251 OHMS LANE | AddressLine1 |
| City | MINNEAPOLIS | City |
| State | MN | State |
| ZIP Code | 55439 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activity | CONSULTING | Activity |
| Fundraiser Control Of Funds | 0 | FundraiserControlOfFunds |
| Gross Receipts | 0 | GrossReceipts |
| Amount Retained By Contractor | 33267 | AmountRetainedByContractor |
| Net To Organization | -33267 | NetToOrganization |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Retained By Contractors | 33267 | TotalRetainedByContractors |
| Total Net To Organization | -33267 | TotalNetToOrganization |
Events Information EventsInformation
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Event1 | BULLDOG CLUB GOLF TOURNAMENT | NameOfEvent1 |
| Gross Receipts Event1 | 16335 | GrossReceiptsEvent1 |
| Charitable Contributions Event1 | 4900 | CharitableContributionsEvent1 |
| Gross Revenue Event1 | 11435 | GrossRevenueEvent1 |
| Non Cash Prizes Event1 | 460 | NonCashPrizesEvent1 |
| Rent Facility Costs Event1 | 4614 | RentFacilityCostsEvent1 |
| Food And Beverage Event1 | 2801 | FoodAndBeverageEvent1 |
| Other Direct Expenses Event1 | 5051 | OtherDirectExpensesEvent1 |
| Name Of Event2 | TALONS OF TUSCANY GOLF TOURNAMENT | NameOfEvent2 |
| Gross Receipts Event2 | 54650 | GrossReceiptsEvent2 |
| Charitable Contributions Event2 | 39700 | CharitableContributionsEvent2 |
| Gross Revenue Event2 | 14950 | GrossRevenueEvent2 |
| Non Cash Prizes Event2 | 1060 | NonCashPrizesEvent2 |
| Food And Beverage Event2 | 1701 | FoodAndBeverageEvent2 |
| Other Direct Expenses Event2 | 6886 | OtherDirectExpensesEvent2 |
| Gross Receipts Total | 70985 | GrossReceiptsTotal |
| Charitable Contributions Total | 44600 | CharitableContributionsTotal |
| Gross Revenue Total Events | 26385 | GrossRevenueTotalEvents |
| Non Cash Prizes Total Events | 1520 | NonCashPrizesTotalEvents |
| Rent Facility Costs Total Events | 4614 | RentFacilityCostsTotalEvents |
| Food And Beverage Total Events | 4502 | FoodAndBeverageTotalEvents |
| Other Direct Expenses Total Events | 11937 | OtherDirectExpensesTotalEvents |
| Direct Expense Summary Events | 22573 | DirectExpenseSummaryEvents |
| Net Income Summary | 3812 | NetIncomeSummary |
Form990 Schedule G Part IV Form990ScheduleGPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | SCHEDULE G, PART I, LINE 3, STATE REGISTRATION: | ReturnReference |
| Explanation | THE ORGANIZATION IS IN THE PROCESS OF COMPLETING THE VARIOUS REGISTRATIONS TO SOLICIT FUNDS IN CERTAIN STATES. | Explanation |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII (2 entries)
| Type Of GrantTypeOfGrant | Number Of RecipientsNumberOfRecipients | Amount Of Cash GrantAmountOfCashGrant |
|---|---|---|
| DRAKE UNIVERSITY AWARDED STUDENT AID | 3730 | 43998151 |
| RESTRICTED/ENDOWED SCHOLARSHIPS | 636 | 4498021 |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: DRAKE UNIVERSITY HAS EMPLOYEES DEDICATED TO POST-AWARD REVIEW AND COMPLIANCE FOR ALL FEDERAL, STATE, AND PRIVATE GRANTS RECEIVED. IN ADDITION, DRAKE RECEIVES AN A-133 AUDIT ON AN ANNUAL BASIS FROM OUR EXTERNAL AUDIT FIRM. OUR FY11 A-133 AUDIT EXPRESSED AN UNQUALIFIED OPINION WITH NO FINDINGS, NO SIGNIFICANT DEFICIENCIES IN INTERNAL CONTROL, AND NO INSTANCES OF MATERIAL NONCOMPLIANCE. | Explanation |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Housing Allowance Or Residence | X | HousingAllowanceOrResidence |
| Club Dues Or Fees | X | ClubDuesOrFees |
| Written Policy Re T And E Expenses | 1 | WrittenPolicyReTAndEExpenses |
| Substantiation Required | 1 | SubstantiationRequired |
| Compensation Committee | X | CompensationCommittee |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
| Comp Based On Revenue Of Filing Org | 0 | CompBasedOnRevenueOfFilingOrg |
| Comp Based On Revenue Related Orgs | 0 | CompBasedOnRevenueRelatedOrgs |
| Comp Based Net Earnings Filing Org | 0 | CompBasedNetEarningsFilingOrg |
| Comp Based Net Earnings Relate Orgs | 0 | CompBasedNetEarningsRelateOrgs |
| Any Non Fixed Payments | 0 | AnyNonFixedPayments |
| Initial Contract Exception | 0 | InitialContractException |
Form990 Schedule J Part II Form990ScheduleJPartII (10 entries)
| Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DAVID MAXWELL | |||||||||||||
| 310631 | 0 | 26500 | 0 | 32846 | 0 | 184600 | 0 | 10990 | 0 | 565567 | 0 | 0 | 0 |
| VICTORIA PAYSEUR | |||||||||||||
| 218744 | 0 | 5000 | 0 | 8683 | 0 | 17669 | 0 | 6080 | 0 | 256176 | 0 | 0 | 0 |
| MICHAEL RENNER | |||||||||||||
| 194713 | 0 | 0 | 0 | 1155 | 0 | 16115 | 0 | 10562 | 0 | 222545 | 0 | 0 | 0 |
| JOHN SMITH | |||||||||||||
| 155422 | 0 | 0 | 0 | 5906 | 0 | 12854 | 0 | 10429 | 0 | 184611 | 0 | 0 | 0 |
| THOMAS DELAHUNT III | |||||||||||||
| 157908 | 0 | 10040 | 0 | 511 | 0 | 13349 | 0 | 10503 | 0 | 192311 | 0 | 0 | 0 |
| MARK PHELPS | |||||||||||||
| 268088 | 0 | 0 | 0 | 8208 | 0 | 15930 | 0 | 10354 | 0 | 302580 | 0 | 0 | 0 |
| ALLAN VESTAL | |||||||||||||
| 241331 | 0 | 0 | 0 | 2818 | 0 | 19600 | 0 | 10657 | 0 | 274406 | 0 | 0 | 0 |
| NEIL HAMILTON | |||||||||||||
| 217814 | 0 | 0 | 0 | 1126 | 0 | 15517 | 0 | 11077 | 0 | 245534 | 0 | 0 | 0 |
| GARRY FRANK | |||||||||||||
| 193981 | 0 | 0 | 0 | 1283 | 0 | 9178 | 0 | 9826 | 0 | 214268 | 0 | 0 | 0 |
| DAVID WALKER | |||||||||||||
| 190940 | 0 | 0 | 0 | 3714 | 0 | 15424 | 0 | 6252 | 0 | 216330 | 0 | 0 | 0 |
Form990 Schedule J Part III Form990ScheduleJPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Reference | PART I, LINE 1A | ReturnReference |
| Explanation | A UNIVERSITY-OWNED RESIDENCE IS PROVIDED TO THE PRESIDENT. THE RESIDENCE IS USED FOR MANY UNIVERSITY FUNCTIONS, MEALS, AND RECEPTIONS INVOLVING FACULTY, STAFF, STUDENTS, DONORS, AND THE GENERAL PUBLIC THROUGHOUT THE YEAR. A SOCIAL CLUB MEMBERSHIP IS PROVIDED TO THE PRESIDENT FOR UNIVERSITY BUSINESS. ANY EXPENSES INCURRED THAT ARE NOT RELATED TO UNIVERSITY BUSINESS ARE PAID FOR PERSONALLY BY THE PRESIDENT. | Explanation |
Schedule K IRS990ScheduleK
Form990 Schedule K Part I Form990ScheduleKPartI (2 entries)
| Issuer EINIssuerEIN | CUSIP NumberCUSIPNumber | Date IssuedDateIssued | Issue PriceIssuePrice | Description Of PurposeDescriptionOfPurpose | DefeasedDefeased | On Behalf Of IssuerOnBehalfOfIssuer | Pool FinancingPoolFinancing |
|---|---|---|---|---|---|---|---|
| IOWA FINANCE AUTHORITY | |||||||
| 521699886 | 46247NAQ8 | 2007-04-05 | 22598791 | RENOVATION OF FACILITIES | 0 | 0 | 0 |
| IOWA FINANCE AUTHORITY | |||||||
| 521699886 | 46246ABB9 | 2008-04-30 | 42700000 | REFUND PRIOR ISSUE (11/30/05) | 0 | 0 | 0 |
Form990 Schedule K Part II Form990ScheduleKPartII (2 entries)
| Amount RetiredAmountRetired | Total ProceedsTotalProceeds | Issuance Costs From ProceedsIssuanceCostsFromProceeds | Credit EnhancementCreditEnhancement | Capital ExpendituresCapitalExpenditures | Year Of Subst CompletionYearOfSubstCompletion | Current RefundingCurrentRefunding | Advance RefundingAdvanceRefunding | Final Allocation MadeFinalAllocationMade | Adequate Books And Recds MaintaindAdequateBooksAndRecdsMaintaind | Other Spent ProceedsOtherSpentProceeds |
|---|---|---|---|---|---|---|---|---|---|---|
| 4540000 | 23523792 | 267150 | 185429 | 23071213 | 2009 | 0 | 0 | 1 | 1 | |
| 4690000 | 42700000 | 275000 | 2004 | 1 | 0 | 1 | 1 | 42425000 |
Form990 Schedule K Part III Form990ScheduleKPartIII (2 entries)
| Owning Bond Financed PropertyOwningBondFinancedProperty | Any Lease ArrangementsAnyLeaseArrangements | Mngment Cntrct Bond Financd PrprtyMngmentCntrctBondFinancdPrprty | Any Research AgreementsAnyResearchAgreements | Bond Counsel Routinely EngagedBondCounselRoutinelyEngaged | Prcntge Prvt Business Use By OthersPrcntgePrvtBusinessUseByOthers | Percentage Of Prvt Business Re UBIPercentageOfPrvtBusinessReUBI | Total Private Business UseTotalPrivateBusinessUse | Post Issuance Compliance ProcdrsPostIssuanceComplianceProcdrs |
|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 1 | 0.00000 | 0.00000 | 0.00000 | 1 |
| 0 | 0 | 0 | 0 | 1 | 0.00000 | 0.00000 | 0.00000 | 1 |
Form990 Schedule K Part IV Form990ScheduleKPartIV (2 entries)
| Form8038 T FiledForm8038TFiled | Variable Rate IssueVariableRateIssue | Hedge Identified In Books And RecdsHedgeIdentifiedInBooksAndRecds | Gross Proceeds Invested In GICGrossProceedsInvestedInGIC | Term Of GICTermOfGIC | Regulatory Safe Harbor SatisfiedRegulatorySafeHarborSatisfied | Gross Proceeds InvestedGrossProceedsInvested | Exception To RebateExceptionToRebate |
|---|---|---|---|---|---|---|---|
| ROYAL CANADA BANK | |||||||
| 0 | 0 | 0 | 1 | 1.500000000000 | 1 | 0 | 1 |
| (no name) | |||||||
| 0 | 1 | 0 | 0 | 0 | 1 | ||
Schedule M IRS990ScheduleM
Cars And Other Vehicles CarsAndOtherVehicles
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 1 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 27310 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | ORIGINAL COST - NEW AUTO | MethodOfDeterminingRevenues |
Securities Publicly Traded SecuritiesPubliclyTraded
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Number Of Contributions | 40 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 3196962 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | TRADING PRICE -DON. DATE | MethodOfDeterminingRevenues |
Other Non Cash Contributions Table OtherNonCashContributionsTable
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | X | NonCashCheckbox |
| Description | PROGRAM EQUIPMENT | Description |
| Number Of Contributions | 41 | NumberOfContributions |
| Noncash Contribs Rptd F990 | 81488 | NoncashContribsRptdF990 |
| Method Of Determining Revenues | APPRAISAL | MethodOfDeterminingRevenues |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of8283 Received | 2 | NumberOf8283Received |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeld |
| Review Process Unusual NC Gifts | 1 | ReviewProcessUnusualNCGifts |
| Third Parties Used | 1 | ThirdPartiesUsed |
Form990 Schedule M Part II Form990ScheduleMPartII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | THIRD PARTY USE: | Identifier |
| Return Reference | PART I, LINE 32B: | ReturnReference |
| Explanation | DRAKE UNIVERSITY USES MERRILL LYNCH IN DES MOINES TO PROCESS AND SELL DONATED SECURITIES. DONORS TRANSFER SECURITIES INTO DRAKE'S ACCOUNT AT MERRILL LYNCH AND THE SECURITIES ARE IMMEDIATELY SOLD, PER BOARD DIRECTION. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (8 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 5 | IN MARCH 2011, DRAKE UNEARTHED A SERIES OF TRANSACTIONS WHICH RESULTED IN THE MISAPPROPRIATION OF APPROXIMATELY $621,155 FROM THE UNIVERSITY OVER A PERIOD OF 7 FISCAL YEARS. THE UNIVERSITY INFORMED THE POLICE, CHARGES WERE FILED AND THE CASE IS CURRENTLY BEING HANDLED BY THE COUNTY PROSECUTOR. THE EMPLOYEE CHARGED WITH THE THEFT WAS IMMEDIATELY TERMINATED. THE UNIVERSITY ALSO IMMEDIATELY IMPLEMENTED CERTAIN ENHANCED INTERNAL CONTROLS AND IS CONTINUING TO WORK WITH AUDITORS TO GUARD AGAINST FUTURE MISAPPROPRIATIONS. THE UNIVERSITY WAS INSURED AND RECEIVED REIMBURSEMENT FROM THE INSURER FOR THE FULL AMOUNT LESS A $5,000 DEDUCTIBLE. | |
| FORM 990, PART VI, SECTION B, LINE 11 | IN APRIL 2009, THE BOARD OF DIRECTORS DETERMINED REVIEW OF THE 2008 AND SUBSEQUENT YEARS' FORM 990 SHOULD BE COMPLETED BY THE BOARD AUDIT COMMITTEE. IN SEPTEMBER 2011, UPON COMPLETION OF THE CURRENT YEAR'S RETURN, BUSINESS & FINANCE STAFF, ALONG WITH DRAKE'S EXTERNAL TAX FIRM REVIEWED THE COMPLETED FORM 990 WITH THE AUDIT COMMITTEE. | |
| A CONFLICT OF INTEREST FORM IS ANNUALLY COMPLETED BY EACH DRAKE UNIVERSITY DIRECTOR, OFFICER, AND KEY ADMINISTRATOR. THE FORM IS COLLECTED BY THE PRESIDENT'S OFFICE WHICH ENSURES ALL REQUESTED FORMS ARE RECEIVED. DRAKE'S EXTERNAL AUDIT FIRM REVIEWS THE FORMS AS PART OF THEIR ANNUAL AUDIT AND REPORTS FINDINGS TO THE BOARD AUDIT COMMITTEE. | FORM 990, PART VI, SECTION B, LINE 12C | |
| THE COMPENSATION COMMITTEE OF THE DRAKE UNIVERSITY BOARD OF TRUSTEES, COMPRISED OF NON-EMPLOYEES OF THE UNIVERSITY, REVIEWS AND APPROVES THE COMPENSATION OF THE PRESIDENT AND OTHER KEY EMPLOYEES. THE COMMITTEE IS PROVIDED, BY DRAKE UNIVERSITY HUMAN RESOURCES, COMPARABILITY DATA FROM THE ANNUAL SURVEY CONDUCTED BY THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR). OVER 1,200 INSTITUTIONS PARTICIPATED IN THE SURVEY IN THE FALL OF 2009. RESULTS WERE PUBLISHED IN FEBRUARY OF 2010. THE CUPA-HR SALARY SURVEY TOOL ALLOWS DRAKE UNIVERSITY HUMAN RESOURCES TO CONDUCT A SURVEY OF SALARIES LIMITED TO DRAKE'S PEER GROUP. THIS EVALUATION IS PERFORMED ANNUALLY. THE COMMITTEE MAINTAINS MINUTES OF ITS MEETING PERTAINING TO SALARY DECISIONS AND COMPLETES CONTEMPORANEOUS SUBSTANTIATION OF ITS DELIBERATION AND DECISION. | FORM 990, PART VI, SECTION B, LINE 15 | |
| THE ORGANIZATION'S FORM 1023, FORM 990 AND FORM 990-T ARE AVAILABLE TO THE PUBLIC UPON REQUEST. | FORM 990, PART VI, SECTION C, LINE 18 | |
| THE ORGANIZATION'S AUDIT REPORT IS AVAILABLE ON THE UNIVERSITY'S WEBSITE. THE BYLAWS OF THE ORGANIZATION ARE ALSO AVAILABLE ON THE UNIVERSITY'S WEBSITE. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE NOT AVAILABLE TO THE PUBLIC. | FORM 990, PART VI, SECTION C, LINE 19 | |
| CHANGES IN NET ASSETS OR FUND BALANCES: | NET UNREALIZED GAINS ON INVESTMENTS: 14,960,456. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS -365,323. CHANGE IN VALUE OF INTEREST RATE SWAP AGREEMENTS -241,993. TOTAL TO FORM 990, PART XI, LINE 5: 14,353,140. | FORM 990, PART XI, LINE 5: |
| THE PROCESS FOR AUDIT OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. | FORM 990, PART XII, LINE 2C, OVERSIGHT OF AUDIT: |
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