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Drake University

Public charityFed auditsIRS 990990-T FY2023
Other · DES MOINES, IA · EIN 42-0680460
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Federal Audit History

Single audits filed with the Federal Audit Clearinghouse
$64.0M in federal awards expended in FY2025
YearFederal $ expendedAuditorOpinionFlags
2025$64.0MCliftonLarsonAllen LLPUnmodified (clean)Low-risk auditee
2024$66.9MCliftonLarsonAllen LLPUnmodified (clean)Low-risk auditee
2023$67.6MCliftonLarsonAllen LLPUnmodified (clean)Low-risk auditee
2022$67.2MDeloitte & Touche LLPUnmodified (clean)Low-risk auditee

Federal Programs

Top programs · FY2025
ProgramAgencyExpendedMajor programFindings
Federal Direct Student LoansEducation$36.1MYes1
Head Start
via Iowa Dept of Public Health
HHS$12.9MNo0
Federal PELL Grant ProgramEducation$4.4MYes1
Health Professions Student Loans, Including Primary Care Loans and Loans for Disadvantaged StudentsHHS$3.9MYes1
Federal Perkins Loan Program_federal Capital ContributionsEducation$2.1MYes1
Health Professions Student Loans, Including Primary Care Loans and Loans for Disadvantaged StudentsHHS$791KYes1
Federal Supplemental Educational Opportunity GrantsEducation$750KYes1
Federal Work-Study ProgramEducation$448KYes1
Telehealth ProgramsHHS$387KNo0
Disaster Grants - Public Assistance (presidentially Declared Disasters)DHS$375KNo0

Audit Findings

FY2025 · auditor's own text
2025-001Special testsSignificant deficiencyRepeat finding
Federal Agency: Department of Education Federal Program Title: Student Financial Assistance Cluster Assistance Listing Number: Various Award Period: July 1, 2024 to June 30, 2025 Type of Finding: • Significant Deficiency in Internal Control over Compliance • Other matter Criter…
2025-001Special testsSignificant deficiencyRepeat finding
Federal Agency: Department of Education Federal Program Title: Student Financial Assistance Cluster Assistance Listing Number: Various Award Period: July 1, 2024 to June 30, 2025 Type of Finding: • Significant Deficiency in Internal Control over Compliance • Other matter Criter…
2025-001Special testsSignificant deficiencyRepeat finding
Federal Agency: Department of Education Federal Program Title: Student Financial Assistance Cluster Assistance Listing Number: Various Award Period: July 1, 2024 to June 30, 2025 Type of Finding: • Significant Deficiency in Internal Control over Compliance • Other matter Criter…
2025-001Special testsSignificant deficiencyRepeat finding
Federal Agency: Department of Education Federal Program Title: Student Financial Assistance Cluster Assistance Listing Number: Various Award Period: July 1, 2024 to June 30, 2025 Type of Finding: • Significant Deficiency in Internal Control over Compliance • Other matter Criter…
2025-001Special testsSignificant deficiencyRepeat finding
Federal Agency: Department of Education Federal Program Title: Student Financial Assistance Cluster Assistance Listing Number: Various Award Period: July 1, 2024 to June 30, 2025 Type of Finding: • Significant Deficiency in Internal Control over Compliance • Other matter Criter…
2025-001Special testsSignificant deficiencyRepeat finding
Federal Agency: Department of Education Federal Program Title: Student Financial Assistance Cluster Assistance Listing Number: Various Award Period: July 1, 2024 to June 30, 2025 Type of Finding: • Significant Deficiency in Internal Control over Compliance • Other matter Criter…
2025-001Special testsSignificant deficiencyRepeat finding
Federal Agency: Department of Education Federal Program Title: Student Financial Assistance Cluster Assistance Listing Number: Various Award Period: July 1, 2024 to June 30, 2025 Type of Finding: • Significant Deficiency in Internal Control over Compliance • Other matter Criter…
Source: Federal Audit Clearinghouse single audits (required of organizations expending $1,000,000+ in federal awards per year for fiscal years beginning on or after Oct 1, 2024; $750,000 before).