The school colors were purple and white, and the college's motto, often attributed to its founder, wealthy farmer David Rankin, was "Set Fire, Tarkio!

There were also several attempts to find alternative uses for the property, including early discussions about the possible founding of a new institution, Tarkio Valley College.

Initially, Youth Services International, Inc. operated Tarkio Academy, a residential and community-based educational program for juveniles between 1995 and 2004.

Education and training will be available at locations throughout the United States as traditional seminars, online classes, interactive webinars—and also at the home campus in Tarkio, MO.

The Alumni Association has rented the main building on the Tarkio campus, Rankin Hall, and is in the process of restoring this 1931 landmark.

Tarkio College won the first NAIA Division I Men's basketball championship in 1940, defeating San Diego State 52–31.