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Nonprofit · EIN 41-0694747

CARLETON COLLEGE

Tax-exempt · NORTHFIELD, MN 55057

Financials

$296.5M$240M2022$279M$254M2023$315.1M$261.2M2024
Revenue Expenses · by fiscal year end
Financials of CARLETON COLLEGE by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$315,082,412$261,238,790$53,843,622$1,992,369,854$222,014,718$1,770,355,136
June 30, 2024990$278,954,694$253,992,441$24,962,253$1,883,994,794$230,515,234$1,653,479,560
June 30, 2023990$296,522,250$239,981,775$56,540,475$1,727,307,245$162,222,483$1,565,084,762
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$41,295,400
of which government grants
$8,034,170
Program service revenue
$176,373,737
Investment income
$94,470,570
Royalties
$1,717
Net rental income
-$49,505
Net gain from sales of assets
$68,519,589
Other revenue
$2,942,705

Expenses

Grants and similar amounts paid
$69,812,098
Compensation of officers, directors and key employees
$3,106,769
Other salaries and wages
$80,410,158
Salaries, compensation and benefits (total)
$107,438,913
Professional fundraising fees
$0
Legal fees
$500,098
Accounting fees
$101,466
Occupancy
$9,479,074
Travel
$8,980,659
Depreciation
$16,095,339
Program services (functional)
$232,083,933
Management and general (functional)
$22,225,673
Fundraising (functional)
$6,929,184

Balance sheet and other

Total assets, start of year
$1,883,994,794
Total assets, end of year
$1,992,369,854
Total liabilities, end of year
$222,014,718
Net assets, end of year
$1,770,355,136
Land, buildings and equipment
$418,274,669
Publicly traded securities
$662,416,976
Net assets without donor restrictions
$761,813,614
Net assets with donor restrictions
$1,008,541,522
Gross unrelated business income
$10,021,095
Gross receipts
$299,525,564
Employees
3,072
Volunteers
2,985
Year formed
1866
State of legal domicile
MN

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
KELSEY DESHLERCHIEF INVESTMENT OFFICER
Key employee
60$925,537$72,079
ALISON BYERLYPRESIDENT
Trustee or director, Officer
60$736,099$127,105
TIMOTHY GRIFFETHDIRECTOR OF INVESTMENTS
Highest-paid employee
60$508,373$68,478
ERIC RUNESTADVP AND TREASURER
Officer
60$368,659$67,432
MICHELLE MATTSONPROVOST & VP OF ACADEMIC AFFAIRS
Officer
60$326,550$45,614
CAROLYN H LIVINGSTONVP FOR STUDENT LIFE & DEAN OF STUDENTS
Key employee
60$249,000$107,582
ART D RODRIGUEZVP & DEAN OF ADMISSIONS & FINANCIAL AID
Key employee
60$278,981$64,956
DAREN BATKEVP OF DEVELOPMENT & ALUMNI RELATIONS
Officer
60$304,142$39,097
MICHAEL T HEMESATHPROFESSOR OF ECONOMICS
Highest-paid employee
60$243,861$59,375
ELISE ESLINGERCHIEF OF STAFF
Highest-paid employee
60$234,323$59,463
JULIE J NEIWORTHPROFESSOR OF PSYCHOLOGY
Highest-paid employee
60$236,697$29,311
JEFF DSIDAASSOCIATE DIRECTOR OF INVESTMENTS
Highest-paid employee
60$227,426$28,624
DAN RUSTADVP OF EXTERNAL RELATIONS (INTERIM)
Officer
60$200,352$53,986
STEVEN G POSKANZERPRESIDENT (FORMER)
Former
60$191,161$45,618
GRETCHEN E HOFMEISTERDEAN OF THE COLLEGE INTERIM (FORMER)
Former
60$167,347$42,792
33 more people on this return
NameTitleHours / weekCompensation
CATHY PAGLIATRUSTEE CHAIR
Trustee or director, Officer
8$0
JENINNE MCGEETRUSTEE VICE CHAIR
Trustee or director, Officer
8$0
JOHN HARRISSECRETARY
Trustee or director, Officer
8$0
GREG AMUSUTRUSTEE
Trustee or director
5$0
MARK APPLEBAUMTRUSTEE
Trustee or director
5$0
EMILY BARRTRUSTEE
Trustee or director
5$0
KURCHI BASUTRUSTEE
Trustee or director
5$0
ALAN BAUERTRUSTEE
Trustee or director
5$0
ELIZABETH BAUSCHTRUSTEE
Trustee or director
5$0
JONATHAN CAPEHARTTRUSTEE
Trustee or director
5$0
VINAYA CHEPURITRUSTEE
Trustee or director
5$0
DAVID DIAMONDTRUSTEE
Trustee or director
5$0
HERB FRITCHTRUSTEE
Trustee or director
5$0
LIA GORETRUSTEE
Trustee or director
5$0
MICHAEL HASENSTABTRUSTEE
Trustee or director
5$0
SARA HAYSTRUSTEE
Trustee or director
5$0
BRENT IRVINTRUSTEE
Trustee or director
5$0
DASHINI JEYATHURAITRUSTEE
Trustee or director
5$0
BOLUWATIFE JOHNSONTRUSTEE
Trustee or director
5$0
LESLIE KAUTZTRUSTEE
Trustee or director
5$0
PAM KIECKER ROYALLTRUSTEE
Trustee or director
5$0
ELIZABETH KINGTRUSTEE
Trustee or director
5$0
CHRISTIAN LEETRUSTEE
Trustee or director
5$0
BRAD NORDHOLMTRUSTEE
Trustee or director
5$0
JENNIFER PIETENPOLTRUSTEE
Trustee or director
5$0
RAUL RAYMUNDOTRUSTEE
Trustee or director
5$0
NONOKO SATOTRUSTEE
Trustee or director
5$0
DAVID SMITHTRUSTEE
Trustee or director
5$0
JUSTIN WENDERTRUSTEE
Trustee or director
5$0
MICHAEL WIEBOLTTRUSTEE
Trustee or director
5$0
CANDACE WILLIAMSTRUSTEE
Trustee or director
5$0
DANA WRIGHTTRUSTEE
Trustee or director
5$0
JOHN YOUNGBLOODTRUSTEE
Trustee or director
5$0
990 for the year ended June 30, 2024: 48 people
NameTitleHours / weekCompensationOther / benefits
KELSEY DESHLERCHIEF INVESTMENT OFFICER
Key employee
60$928,506$64,351
ALISON BYERLYPRESIDENT
Trustee or director, Officer
60$700,689$128,214
TIMOTHY GRIFFETHDIRECTOR OF INVESTMENTS
Highest-paid employee
60$597,384$60,306
THOMAS BONNERVP FOR EXTERNAL RELATIONS
Highest-paid employee
60$437,791$30,324
ERIC RUNESTADVP & TREASURER
Officer
60$333,913$62,668
MICHELLE MATTSONPROVOST & VP OF ACADEMIC AFFAIRS
Officer
60$313,638$41,716
ART D RODRIGUEZVP & DEAN OF ADMISSIONS & FINANCIAL AID
Key employee
60$268,249$60,321
CAROLYN H LIVINGSTONVP FOR STUDENT LIFE & DEAN OF STUDENTS
Key employee
60$228,248$98,380
MICHAEL T HEMESATHPROFESSOR OF ECONOMICS
Highest-paid employee
60$225,201$55,340
ELISE ESLINGERCHIEF OF STAFF
Highest-paid employee
60$221,367$53,973
DAN RUSTADVP OF EXTERNAL RELATIONS (INTERIM)
Officer
60$202,847$50,436
JULIE J NEIWORTHPROFESSOR OF PSYCHOLOGY
Highest-paid employee
60$223,737$27,118
STEVEN G POSKANZERPRESIDENT (FORMER)
Former
60$186,576$41,257
GRETCHEN E HOFMEISTERDEAN OF THE COLLEGE INTERIM (FORMER)
Former
60$147,839$46,651
WALLY WEITZTRUSTEE CHAIR
Trustee or director, Officer
8$0$0
JENINNE MCGEETRUSTEE VICE CHAIR
Trustee or director, Officer
8$0$0
CATHY PAGLIATRUSTEE VICE CHAIR
Trustee or director, Officer
8$0$0
JOHN HARRISSECRETARY
Trustee or director, Officer
8$0$0
GREG AMUSUTRUSTEE
Trustee or director
5$0$0
LOVE ANANITRUSTEE
Trustee or director
5$0$0
MARK APPLEBAUMTRUSTEE
Trustee or director
5$0$0
EMILY BARRTRUSTEE
Trustee or director
5$0$0
ALAN BAUERTRUSTEE
Trustee or director
5$0$0
ELIZABETH BAUSCHTRUSTEE
Trustee or director
5$0$0
VINAYA CHEPURITRUSTEE
Trustee or director
5$0$0
STEPHEN DAVISTRUSTEE
Trustee or director
5$0$0
DAVID DIAMONDTRUSTEE
Trustee or director
5$0$0
ARNOLD DONALDTRUSTEE
Trustee or director
5$0$0
HERB FRITCHTRUSTEE
Trustee or director
5$0$0
LIA GORETRUSTEE
Trustee or director
5$0$0
MICHAEL HASENSTABTRUSTEE
Trustee or director
5$0$0
DASHINI JEYATHURAITRUSTEE
Trustee or director
5$0$0
LESLIE KAUTZTRUSTEE
Trustee or director
5$0$0
PAM KIECKER ROYALLTRUSTEE
Trustee or director
5$0$0
TRACE MCCREARYTRUSTEE
Trustee or director
5$0$0
BRAD NORDHOLMTRUSTEE
Trustee or director
5$0$0
ROLF PETERSTRUSTEE
Trustee or director
5$0$0
NIC PUZAKTRUSTEE
Trustee or director
5$0$0
RAUL RAYMUNDOTRUSTEE
Trustee or director
5$0$0
NONOKO SATOTRUSTEE
Trustee or director
5$0$0
DAVID SMITHTRUSTEE
Trustee or director
5$0$0
MIKE SOBASKITRUSTEE
Trustee or director
5$0$0
JUSTIN WENDERTRUSTEE
Trustee or director
5$0$0
MICHAEL WIEBOLTTRUSTEE
Trustee or director
5$0$0
CANDACE WILLIAMSTRUSTEE
Trustee or director
5$0$0
DANA WRIGHTTRUSTEE
Trustee or director
5$0$0
JOHN YOUNGBLOODTRUSTEE
Trustee or director
5$0$0
DAREN BATKE HIRE 4124VP OF DEVELOPMENT & ALUMNI RELATIONS
Officer
60$0$0
990 for the year ended June 30, 2023: 44 people
NameTitleHours / weekCompensationOther / benefits
KELSEY DESHLERCHIEF INVESTMENT OFFICER
Key employee
60$789,397$59,524
ALISON BYERLYPRESIDENT
Trustee or director, Officer
60$669,567$107,688
TIMOTHY GRIFFETHDIRECTOR OF INVESTMENTS
Highest-paid employee
60$514,098$88,514
THOMAS BONNERVP FOR EXTERNAL RELATIONS
Highest-paid employee
60$365,733$60,973
STEVEN G POSKANZERPRESIDENT (FORMER)
Former
60$371,884$40,723
BEVERLY NAGELDEAN OF THE COLLEGE (FORMER)
Former
60$335,585$41,785
ERIC RUNESTADVP AND TREASURER
Officer
60$315,339$60,032
ART D RODRIGUEZVP & DEAN OF ADMISSIONS & FINANCIAL AID
Key employee
60$258,342$51,186
CAROLYN H LIVINGSTONVP FOR STUDENT LIFE & DEAN OF STUDENTS
Key employee
60$208,175$82,052
ELISE ESLINGERCHIEF OF STAFF
Highest-paid employee
60$212,662$43,665
GRETCHEN E HOFMEISTERDEAN OF THE COLLEGE
Officer
60$226,942$23,249
JULIE J NEIWORTHPROFESSOR OF PSYCHOLOGY
Highest-paid employee
60$216,931$25,709
MICHAEL T HEMESATHPROFESSOR OF ECONOMICS
Highest-paid employee
60$215,751$15,873
MICHELLE MATTSONPROVOST & VP OF ACADEMIC AFFAIRS
Officer
60$148,222$15,778
WALLY WEITZTRUSTEE CHAIR
Trustee or director, Officer
8$0$0
JENINNE MCGEETRUSTEE VICE CHAIR
Trustee or director, Officer
8$0$0
CATHY PAGLIATRUSTEE VICE CHAIR
Trustee or director, Officer
8$0$0
JOHN HARRISSECRETARY
Trustee or director, Officer
8$0$0
GREG AMUSUTRUSTEE
Trustee or director
5$0$0
LOVE ANANITRUSTEE
Trustee or director
5$0$0
MARK APPLEBAUMTRUSTEE
Trustee or director
5$0$0
EMILY BARRTRUSTEE
Trustee or director
5$0$0
ALAN BAUERTRUSTEE
Trustee or director
5$0$0
VINAYA CHEPURITRUSTEE
Trustee or director
5$0$0
STEPHEN DAVISTRUSTEE
Trustee or director
5$0$0
ARNOLD DONALDTRUSTEE
Trustee or director
5$0$0
HERB FRITCHTRUSTEE
Trustee or director
5$0$0
CATHERINE GUNSBURYTRUSTEE
Trustee or director
5$0$0
DASHINI JEYATHURAITRUSTEE
Trustee or director
5$0$0
LESLIE KAUTZTRUSTEE
Trustee or director
5$0$0
PAM KIECKER ROYALLTRUSTEE
Trustee or director
5$0$0
RICH KRACUMTRUSTEE
Trustee or director
5$0$0
TRACE MCCREARYTRUSTEE
Trustee or director
5$0$0
STEVE PARRISHTRUSTEE
Trustee or director
5$0$0
ROLF PETERSTRUSTEE
Trustee or director
5$0$0
NIC PUZAKTRUSTEE
Trustee or director
5$0$0
RAUL RAYMUNDOTRUSTEE
Trustee or director
5$0$0
DAVID SMITHTRUSTEE
Trustee or director
5$0$0
MIKE SOBASKITRUSTEE
Trustee or director
5$0$0
ALISON VON KLEMPERERTRUSTEE
Trustee or director
5$0$0
MICHAEL WIEBOLTTRUSTEE
Trustee or director
5$0$0
CANDACE WILLIAMSTRUSTEE
Trustee or director
5$0$0
DANA WRIGHTTRUSTEE
Trustee or director
5$0$0
JOHN YOUNGBLOODTRUSTEE
Trustee or director
5$0$0

Address and contacts

Address (IRS master file)
1 N COLLEGE ST, NORTHFIELD, MN 55057-4001
In care of
% ERIC RUNESTAD
Principal officer (990 for 2024)
ALISON BYERLY, ONE NORTH COLLEGE STREET, NORTHFIELD, MN 55057
Signed the 990
ERIC RUNESTAD, VP & TREASURER
Phone
(507) 222-4000
Return prepared by
CLIFTONLARSONALLEN LLP

Mission

SEE SCHEDULE O.FOUNDED IN 1866, CARLETON COLLEGE IS A PRIVATE, COEDUCATIONAL LIBERAL ARTS COLLEGE OF 2,007 STUDENTS LOCATED IN THE HISTORIC RIVER TOWN OF NORTHFIELD, MINNESOTA. NATIONALLY RECOGNIZED AS THE NATION'S TOP COLLEGE FOR UNDERGRADUATE TEACHING, CARLETON IS KNOWN FOR ITS ACADEMIC RIGOR, INTELLECTUAL CURIOSITY, AND SENSE OF HUMOR. CARLETON OFFERS 33 MAJORS AND 40 MINORS IN THE ARTS, HUMANITIES, NATURAL SCIENCES, MATHEMATICS, AND SOCIAL SCIENCESTHE CARLETON COLLEGE MISSION IS TO PROVIDE AN EXCEPTIONAL UNDERGRADUATE LIBERAL ARTS EDUCATION. THE COLLEGE IS DEVOTED TO ACADEMIC EXCELLENCE, DISTINGUISHED BY THE CREATIVE INTERPLAY OF TEACHING, LEARNING, AND SCHOLARSHIP AND IS DEDICATED TO A DIVERSE RESIDENTIAL COMMUNITY AND EXTENSIVE INTERNATIONAL ENGAGEMENTS.

990 for the year ended June 30, 2025

Program accomplishments

  • INSTRUCTION - CARLETON COLLEGE EXISTS TO PROVIDE AN EXCEPTIONAL LIBERAL ARTS EDUCATION FOR STUDENTS, PREPARING THEM FOR LEADERSHIP IN THEIR COMMUNITIES, COUNTRIES AND THE WORLD (2,086 STUDENTS). A STUDENT - FACULTY RATIO OF 8:1 SUPPORTS CLASSROOM, LABORATORY, OFF-CAMPUS STUDY AND RESEARCH OPPORTUNITIES, AVERAGE CLASS SIZE IS 16, STUDENT FINANCIAL AID PROGRAMS - CARLETON MEETS 100% OF THE DEMONSTRATED FINANCIAL NEED OF ALL ADMITTED STUDENTS (1,165 STUDENTS).
    Expenses $147,592,843 · grants $68,060,091 · revenue $144,128,029
  • ACADEMIC SUPPORT - PROGRAMS TO ENHANCE THE CARLETON LIBERAL ARTS EXPERIENCE WITH LIBRARY AND INFORMATION TECHNOLOGY RESOURCES (2,086 STUDENTS).
    Expenses $29,964,970 · grants $1,085,000
  • STUDENT SERVICES PROGRAMS - PROGRAMS DESIGNED TO SUPPORT THE RESIDENTIAL CARLETON COLLEGE STUDENT LIFE EXPERIENCE INCLUDING CO-CURRICULAR AND RECREATIONAL OPPORTUNITIES (2,086 STUDENTS).
    Expenses $23,938,761
  • AUXILIARY ENTERPRISES - CARLETON COLLEGE MAINTAINS A RURAL RESIDENTIAL CAMPUS TO ENHANCE THE EDUCATIONAL EXPERIENCE OF THE STUDENT BODY WITH ROOM AND BOARD PROGRAMS DESIGNED TO ENCOURAGE A SPIRIT OF COLLEGIALITY AND CONVERSATION BEYOND THE CLASSROOM AND LABORATORY (2,024 STUDENTS).
    Expenses $21,661,467 · revenue $31,197,584
  • RESEARCH - FACULTY AND STUDENT RESEARCH TO ENHANCE THE ACADEMIC INSTRUCTIONAL EXPERIENCE.
    Expenses $7,849,708 · grants $667,007
  • SUMMER ACADEMIC PROGRAMS - PROGRAMS FOR HIGH SCHOOL STUDENTS IN GRADES 7-12 TO DEVELOP SKILLS FOR RIGOROUS ACADEMIC PROGRAMS (211 ATTENDEES).
    Expenses $1,076,184 · revenue $1,048,124

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
41-0694747
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
School
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1938
Accounting year ends
June
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B42Z)
Assets (IRS master file)
$1,992,369,854
Income (IRS master file)
$299,525,564

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$315,082,412$261,238,790$1,992,369,854XML
990-TJune 2025–––IRS
990June 2024$278,954,694$253,992,441$1,883,994,794XML
990-TJune 2024–––IRS
990June 2023$296,522,250$239,981,775$1,727,307,245XML
990-TJune 2023–––IRS
990June 2022$280,959,414$223,828,854$1,658,331,169IRS
990-TJune 2022–––IRS
990June 2021–––IRS
990-TJune 2021–––IRS
990June 2020–––IRS
990June 2019–––IRS
990June 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 41-0694747).

Questions about CARLETON COLLEGE

What is the EIN of CARLETON COLLEGE?
The employer identification number (EIN) of CARLETON COLLEGE is 41-0694747.
Is CARLETON COLLEGE tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1938.
Are donations to CARLETON COLLEGE tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does CARLETON COLLEGE file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of CARLETON COLLEGE due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did CARLETON COLLEGE last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of CARLETON COLLEGE?
The 990 for the year ended June 30, 2025 names ALISON BYERLY.
Who are the officers and directors of CARLETON COLLEGE?
The 990 for the year ended June 30, 2025 lists 48 people; 15 received compensation from the organization, the highest $925,537 (KELSEY DESHLER, CHIEF INVESTMENT OFFICER).
How much revenue does CARLETON COLLEGE have?
On its 990 for the year ended June 30, 2025 it reported revenue of $315,082,412, expenses of $261,238,790 and total assets of $1,992,369,854 at year end.

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