Waldorf Lutheran College Foundation
Nonprofit profile at a glance
- EIN
- 274358184
- IRS 990 coverage
- 2012–2024
- Official website data refreshed
- Jun 2026
- Forms available
- Form 990 2024
- Location
- Forest City, IA, USA
- Phone
- 6415858496
- Rating
- 64
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
- Affiliation
- Christianity
Reported finances
- Revenue
- $28,190,832
- Expenses
- $26,412,518
- Assets
- $26,862,540
- Liabilities
- $7,457,449
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
18 people listed
Executive titles in this filing
- ROBERT ALSOP (CEO)
Highest reported compensation
- ROBERT ALSOP (CEO): $263,975 total reported compensation
- DAISY H HALVORSON (CFO): $171,413 total reported compensation
- SEVERIN ROBERTS (EX DIR WLCF): $161,801 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide financial support to waldorf university and to provide scholarships and educational programs and experiences to students of waldorf university.
What it reported doing in 2024
The exempt purpose of the waldorf lutheran college foundation, inc. Is to provide financial support to waldorf university and to provide scholarships to students of waldorf university. It is also dedicated to provide educational programs and experiences for students.
Operating model
- Revenue model
- Earned-program. 83% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The filing allocates 96% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 31
- Transparency & Controls: 87
- Accountability: 91
- Sustainability: 51
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 23.6%; rating input score 24
- Program expense ratio: 25.2%; rating input score 25
- Fundraising efficiency: $93.15 raised per $1 spent on fundraising; rating input score 84; 84th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 7 of 9 controls in place; rating input score 78
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.3%; rating input score 58; 58th percentile among comparable filings
- Total-asset coverage ratio: 1.02; rating input score 37; 37th percentile among comparable filings
- Liabilities to assets ratio: 0.28; rating input score 49; 49th percentile among comparable filings
- Officer compensation ratio: 3.8%; rating input score 61; 61st percentile among comparable filings
Growth
- Program expense growth: 35% per year; rating input score 100; 96th percentile among comparable filings
- Revenue growth: 33.4% per year; rating input score 100; 97th percentile among comparable filings
- Asset growth: 24.1% per year; rating input score 100; 93rd percentile among comparable filings
Details
- Where the money goes: 23.6% of revenue deployed · 25.2% of spending went to programs
- Governance: 12 of 12 board members independent · 7 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $6.7M in reported program spending
- Leadership: top reported pay $264K · 18 people listed · 4 of 6 pay-setting controls reported
- Consistency: 34 of 34 current checks pass
- Schedules: 6 filed schedules · includes major donors, grants, and executive pay
- Filing history: 12 filing years from 2012 to 2024
- Contacts: How to reach this organization
- Money network: 7 filed money-flow records
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.
- High — Financial Efficiency: Mission deployment rate scored 24/100.
- High — Financial Efficiency: Program expense ratio scored 25/100.
- Review — Accountability: Governance controls: 2 of 9 not reported.
- Review — Sustainability: Operating margin scored 58/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 37/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 49/100.
- High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.