Carroll University Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
CARROLL UNIVERSITY PROVIDES A SUPERIOR EDUCATION, ROOTED IN ITS PRESBYTERIAN AND LIBERAL ARTS HERITAGE, AND DRAWS UPON ITS CHRISTIAN TRADITION TO PREPARE ALL STUDENTS FOR VOCATIONAL SUCCESS, LIFELONG LEARNING AND SERVICE IN A DIVERSE AND GLOBAL SOCIETY.
- Income
- $147.1 million
- Spending
- $144.8 million
- Spent on programs
- 90%
- Reserves
- 1.6 months of spending
- Largest source of income
- fees for its services, 91%
- Employees
- 2,516
- Volunteers
- 23
- Highest pay
- $602,581, president
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 68 out of 100. Higher than 59% of charities in its peer group (education, over $100m).
Reserves
10 of 35Spendable reserves would cover 1.6 months of spending.
Debt
16 of 20It owes 15% of what it owns.
Living within its means
12 of 15Income exceeded spending by 2% of income.
Income trend
15 of 15Income rose 7% on the year before.
Spending floor
15 of 1590% of spending went to programs and raising each dollar of donations cost 18 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 90 out of 100. Higher than 14% of charities in its peer group (education, over $100m).
Independent board
25 of 2523 of 24 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
0 of 10Did not give the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (3)
- $41.2 million spent. INSTRUCTION & ACADEMIC SUPPORT - CARROLL UNIVERSITY OFFERS MORE THAN 95 AREAS OF STUDY FOR STUDENTS TO DISCOVER AND EXPLORE THAT ARE HOUSED WITHIN TWO COLLEGES (COLLEGE OF ARTS AND SCIENCES AND COLLEGE OF HEALTH SCIENCES) AND TWO SCHOOLS (SCHOOL OF BUSINESS AND SCHOOL OF EDUCATION AND HUMAN SERVICES). WE STRUCTURE THOSE WITH THE INDIVIDUAL GOALS AND NEEDS OF OUR STUDENTS IN MIND. OUR TOP MAJORS ARE NURSING, BUSINESS, EXERCISE SCIENCE, PSYCHOLOGY, BIOLOGY AND PHYSICAL THERAPY (GRADUATE). MANY OF OUR PROGRAMS OFFER THE FLEXIBILITY TO DOUBLE MAJOR OR ADD MINORS WHILE STILL GRADUATING IN FOUR YEARS. WE ALSO OFFER THE OPPORTUNITY TO COMPLETE SELECT MAJORS AND GET STARTED ON A CAREER SOONER WITH OUR CARROLL3 PROGRAMS. IN ADDITION, OUR DUAL DEGREE PROGRAMS MAKE IT CONVENIENT FOR STUDENTS TO EARN BOTH A BACHELOR'S AND MASTER'S DEGREE IN JUST FIVE YEARS. CARROLL ISN'T A ONE-SIZE-FITS-ALL KIND OF PLACE AND RECOGNIZES THAT EVERYONE IS DIFFERENT AND WE'RE HERE TO HELP EACH STUDENT GET THE MOST OUT OF THEIR ACADEMIC EXPERIENCE. IN EACH OF OUR AREAS OF STUDY, STUDENTS WILL GAIN A STRONG, FOUNDATIONAL KNOWLEDGE AND SKILLS THAT WILL PREPARE THEM FOR THEIR FUTURE. THEY WILL ENJOY SMALL CLASS SIZES AND PROFESSORS WHO GET TO KNOW THEM AND ARE INVESTED IN STUDENT SUCCESS. AT THE GRADUATE LEVEL, CARROLL OFFERS STUDENTS LOOKING TO TAKE THEIR EXPERTISE TO THE NEXT LEVEL WITH ACCELERATED, FLEXIBLE PROGRAMS THAT HELP THEM GO FARTHER, FASTER TO REACH THEIR PROFESSIONAL GOALS.
- $89.0 million spent. AUXILIARY & STUDENT SERVICES - THE UNIVERSITY OFFERS A BROAD SCOPE OF ACTIVITIES AND PROGRAMMING FOR STUDENTS. THROUGH INTERCULTURAL PROGRAMMING, DIVERSITY INITIATIVES, MENTORING OPPORTUNITIES AND MORE, OUR OFFICE OF INTERCULTURAL AND DIVERSITY ENGAGEMENT WORKS TO CHALLENGE PRECONCEIVED NOTIONS AND ENRICH THE CARROLL COMMUNITY. STUDENTS LIVE OUT CARROLL'S MISSION OF SERVICE THROUGH VOLUNTEERING, MENTORSHIP PROGRAMS, CIVIC ENGAGEMENT AND MORE. CAMPUS SPIRITUAL LIFE INCLUDES WEEKLY PROGRAMS, RETREATS AND PARTNERSHIPS WITH LOCAL FAITH COMMUNITIES THAT GIVE STUDENTS MANY OPTIONS FOR REFLECTION AND WORSHIP. OTHER STUDENT ACTIVITIES AT CARROLL INCLUDE MORE THAN 50 STUDENT ORGANIZATIONS WHERE STUDENTS CAN JOIN TOGETHER TO EXPLORE THEIR INTERESTS AND DEVELOP LEADERSHIP SKILLS IN ORGANIZATIONS RELATED TO ACADEMIC PROGRAMS, SERVICE/ADVOCACY, DIVERSITY, STUDENT GOVERNMENT, RECREATION, ACTING, FRATERNITY AND SORORITY LIFE, ACAPELLA SINGING, OUTDOOR ACTIVITIES AND MORE. CARROLL IS HOME TO 23 NCAA DIVISION III ATHLETIC TEAMS (11 MEN'S SPORTS AND 12 WOMEN'S SPORTS) AND COMPETES IN THE NATIONALLY-RECOGNIZED COLLEGE CONFERENCE OF ILLINOIS AND WISCONSIN (CCIW). INCLUDED IN AUXILIARY PROGRAMMING ARE 12 HOUSING OPTIONS FROM TRADITIONAL RESIDENCE HALLS TO SUITE-STYLE UNITS AND APARTMENTS AND ALSO FLEXIBLE MEAL PLANS AND MENUS ARE OFFERED FOR ALL OF OUR SEVEN ON-CAMPUS DINING LOCATIONS.
- INSTITUTIONAL SUPPORT - THIS CATEGORY OF PROGRAMMING INCLUDES THE SENIOR LEADERSHIP TEAM, MARKETING AND COMMUNICATIONS, AND ALL OTHER NECESSARY FUNCTIONS TO LEAD AND SUPPORT THE UNIVERSITY'S STUDENTS AND ACADEMIC MISSION AT THE WAUKESHA, WISCONSIN CAMPUS AND OTHER FACILITIES MADE UP OF 1.3 MILLION SQUARE FEET OF SPACE IN OVER 65 BUILDINGS AND 160-PLUS ACRES OF LAND. ALSO INCLUDED HERE IS INSTITUTIONAL ADVANCEMENT WHICH IS FOCUSED ON FUNDRAISING AND DONOR RELATIONS AND THE ALUMNI RELATIONS DEPARTMENT REACHING OUT TO MORE THAN 23,000 CARROLL ALUMNI ACROSS ALL 50 STATES AND 33 COUNTRIES. ALL OTHER SERVICES THAT SUPPORT THE ADMINISTRATIVE FUNCTIONS OF THE INSTITUTION ARE INCLUDED HERE INCLUDING DEPRECIATION, DEPLETION AND AMORTIZATION.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since October 1942.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
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