SIOUX FALLS, S.D. (KELO) — A student media report showed Augustana University has reported its first deficit since 2009.
In addition, the private university located in central Sioux Falls recently voted to increase the cost of tuition and fees by 3% for the next academic year, according to The Augustana Mirror, a student-run newspaper.
Tax filings from 2024 show that the school’s revenue did not outpace its expenses. The school’s deficit is nearly $3 million for 2024. ProPublica, an independent and nonprofit newsroom, lists tax documents like the Form 990 that most organizations claiming federal tax-exempt status must file yearly with the IRS…