ST OLAF COLLEGE
Mission Statement
St. Olaf, a four-year college of the Evangelical Lutheran Church in America, provides an education committed to the liberal arts, rooted in the Christian Gospel, and incorporating a global perspective. In the conviction that life is more than a livelihood, it focuses on what is ultimately worthwhile and fosters the development of the whole person in mind, body, and spirit. Now in its second century, St. Olaf College remains dedicated to the high standards set by its Norwegian immigrant founders. In the spirit of free inquiry and free expression, it offers a distinctive environment that integrates teaching, scholarship, creative activity, and opportunities for encounter with the Christian Gospel and God's call to faith. The college intends that its graduates combine academic excellence and theological literacy with a commitment to lifelong learning. St. Olaf College strives to be an inclusive community, respecting those of differing backgrounds and beliefs. Through its curriculum, campus life, and off-campus programs, it stimulates students' critical thinking and heightens their moral sensitivity; it encourages them to be seekers of truth, leading lives of unselfish service to others; and it challenges them to be responsible and knowledgeable citizens of the world.
Financial Overview — FY 2025
Compared with Peers
FY 2025| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
92.8% | 87.7% |
P10P90
|
Top quarter |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
5.0% | 10.5% |
P10P90
|
Top quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
2.2% | 1.3% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
23793.2% | 4180.7% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
43.0 mo | 20.9 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
14.6% | 26.1% |
P10P90
|
Top quarter |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
70.9% | 82.9% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
11.1% | 6.6% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
8.4% | 4.7% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
11.3% | 3.6% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2025 | $333.1M | $295.5M | $1058.0M | 92.8% | 3172 |
| 2024 | $299.9M | $272.6M | $997.9M | 92.1% | 3302 |
| 2023 | $251.6M | $252.8M | $906.2M | 92.9% | 3254 |
| 2022 | $293.5M | $233.5M | $889.2M | 92.3% | 3247 |
| 2021 | $241.0M | $215.3M | N/A | — | 3275 |
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