Charity Search / MONMOUTH COLLEGE
Education (B420) IRS Verified DX Registered 990 on File

MONMOUTH COLLEGE

EIN: 37-0661228 · MONMOUTH, IL 61462-1963 · United States · FY 2024 Data
3 out of 5 59 / 100 Based on 2+ years of filings
Financial strength (30%) 96/100
Reliability (20%) 55/100
Effectiveness (25%) 88/100
Impact (25%) No data yet
Financial data: FY 2024 · Scored 9/13/2026
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Mission Statement

As an undergraduate liberal arts college we recognize the close relationship of faculty and students to be fundamental to our learning environment. As a community of learners we strive to create and sustain an environment that is value-centered, intellectually challenging, aesthetically inspiring, and culturally diverse; and we hold as central our commitment to liberal arts education and to one another. We integrate a four-year program of general education with in-depth study in the major and a rich array of co-curricular activities in order to foster the discovery of connections among disciplines and of larger patterns of meaning. Through these experiences, we help our students explore multiple perspectives on the human condition and prepare themselves for rich personal and professional lives—for leadership, citizenship, and service in a global context. Monmouth College was founded in 1853 by pioneering Presbyterians. As a campus community we honor that heritage and value religious diversity as we explore the spiritual dimension of human existence and the relationship between faith and knowledge. As both observers and participants we seek to deepen our understanding and appreciation of the creative tension that exists among the principles of democracy, pluralism, equality, and freedom in our own nation and beyond. Statement of Purposes As an undergraduate liberal arts institution Monmouth College exists to: 1.Prepare students for rich personal and professional lives. 2.Prepare students for positions of leadership, service, and citizenship in a global context. 3.Promote awareness and exploration of the sometimes contradictory principles which exist in democracy, pluralism, equality, and freedom. 4.Create and maintain a learning environment which is value-centered, intellectually challenging, aesthetically inspiring, and culturally diverse. This includes: 1.Providing students with a four-year general education program, in-depth study in the major, and a rich array of co-curricular activities. 2.Fostering the discovery of connections among disciplines and of larger patterns of meaning. 3.Promoting an understanding of a value system that is shaped by individual and collective experiences. 5.Explore the spiritual dimension of human existence and the relationship between faith and knowledge. 6.Introduce students to multiple perspectives on the human condition and promote self-awareness of global perspectives both through the curriculum and through campus life. 7.Foster and promote intellectual inquiry and critical analysis through mentoring relationships characterized by individual attention. 8.Develop creativity and skills in written and oral communication and artistic expression. 9.Understand the methods of inquiry and expression in the arts, humanities, sciences, and social sciences.

Financial Overview — FY 2024
$66.2M
Total Revenue
$59.6M
Total Expenses
$210.9M
Net Assets
709
Employees
Revenue Sources
Expense Breakdown
Program Expense Ratio 87.1%
Fundraising Efficiency N/A
Operating Reserve 42.43x
Liability-to-Asset 12.9%
Revenue Diversification 56.8%
Executive Compensation $1.5M
Compared with Peers
FY 2024
Compared with 1,943 similar organizations (United States, Education, $10M–$100M in expenses), FY 2024.
This organization Middle half of peers (P25–P75) Peer median
Ratio This org Peer median Position (P10 → P90)
Program expense ratio
Program expenses / total expenses · higher is better
87.1% 84.6%
P10P90
Above median
Admin expense ratio
Management and general / total expenses · lower is better
12.0% 13.3%
P10P90
Above median
Fundraising expense ratio
Fundraising expenses / total expenses · lower is better
1.0% 0.7%
P10P90
Below median
Operating reserve
Months of expenses covered by net assets · higher is better
42.4 mo 10.6 mo
P10P90
Top quarter
Liabilities to assets
Total liabilities / total assets · lower is better
12.9% 31.2%
P10P90
Above median
Revenue concentration
Share of revenue from the largest source · lower is better
56.8% 88.3%
P10P90
Top quarter
Revenue growth
Year over year revenue growth
19.2% 7.9%
P10P90
Expense growth
Year over year expense growth
0.9% 7.4%
P10P90
Surplus margin
Surplus as a share of revenue
9.9% 3.0%
P10P90
Financial History
Year Revenue Expenses Net Assets Program % Staff
2024 $66.2M $59.6M $210.9M 87.1% 709
2023 $55.5M $59.1M $195.3M 88.2% 711
2022 $57.4M $57.1M $188.8M 88.1% 717
2021 $57.5M $56.7M N/A — 766
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Organization Details
EIN
37-0661228
State
IL
City
MONMOUTH
ZIP
61462-1963
Classification
B420
Category
Education
Rating
3★
Coverage
A
Last Updated
Aug 2026
IRS Ruling Year
1853
Foundation Code
11
Form 990
On File
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