Drexel University EIN 23-1352630

Drexel University

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Provides integrated academic programs and delivers high-quality, community-focused healthcare services, including specialized clinical care, health promotion, and disease prevention. For fiscal year 2024 it reported $1.5B in revenue, $1.5B in expenses, and $1.4B in net assets.Pt I

Founded
1894
Type
Higher education institution · Colleges & Universities
Location
Philadelphia, PA
Website
www.drexel.edu
Filings
5 on file (2020–2024)
Revenue
$1.5BFY2024
Expenses
$1.5B
Net assets
$1.4B
People
88
Filings
5
Updates
0
More identity details & actions ⌄
EIN  23-1352630 Higher education institution Philadelphia, PA Founded 1894
Form 990 (PDF)
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Figures match the IRS filing checked 7/3/26 · see original: IRS
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Size
$100M+
What they do
Provides integrated academic programs and delivers high-quality, community-focused healthcare services, including specialized clinical care, health promotion, and disease prevention.
Leadership
John a Fry · President (to 9/30/24) · $1.8M
Money in and out
$1.5B revenue, $1.5B expenses
Bottom line
-0.5% operating surplus
Financial scale & money flow · FY2024
Total revenue
$1.5B
Pt VIII · Ln 12
Total expenses
$1.5B
Pt IX · Ln 25
Net assets
$1.4B
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$7.5M
Where spending went · Part IX cols B–D
Program services $0.87 Management & general $0.12 Fundraising $0.01
Operating surplus
-0.5%
revenue over expenses, this legal entity▲ +86% vs prior filing year
Payroll share
43%
of this entity's spending is salaries & benefits▲ +3% vs prior filing year
Program spending
87%
of expenses reach program services▼ -2% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.5B
FY2024▲ +5%
Expenses
$1.5B
FY2024▲ +1%
Total assets
$2.9B
FY2024▲ +1%
Total liabilities
$1.5B
FY2024-0.05%
Total revenue
$1.5B
Pt VIII · Ln 12
Total expenses
$1.5B
Pt IX · Ln 25
Net assets
$1.4B
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$7.5M
Total assetsPt X · Ln 16$2.9B
Program-expense ratioPt IX · col B87%
Voting members of governing bodyPt I · Ln 357
Independent voting membersPt I · Ln 451
Mission & Programs · Part III

Where the work happens

3 program services account for $1.3B of program spending, described in the organization's own filed words · FY2024.
01

Instructiondrexel is a comprehensive national research university dedicated to providing quality undergraduate, graduate and professional education featuring excellent academics, state-of-the-art technology and a focus on real-world learning and service.

$1.1Bprogram expense
02

Researchdrexel researchers work across disciplines to increase the world's store of knowledge and translate that new knowledge into solutions with tremendous positive impact on society. Typically, the university receives about $110 million per year in research expenditures.

$172.7Mprogram expense
03

Patient CARE/PUBLIC serviceit is drexel university's patient care mission to serve the community through the delivery of high-quality, cost-effective health care services, including programs of health promotion and disease prevention. All clinical services are provided with careful regard for the individual patient and their family.

$40.8Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CDrexel University
EINHdr · item D23-1352630
Principal addressHdr · item CPhiladelphia, PA
WebsiteHdr · item Jwww.drexel.edu
Year of formationHdr · item L1894
State of legal domicileHdr · item MPA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B43)
Ruling yearIRS BMFAug 1927

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a57
Independent voting membersPt VI · Ln 1b51
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President (to 9/30/24)
$1,829,538Pt VII · Sec A
Dean & SVP, Med Affairs, Com
$1,066,351Pt VII · Sec A
Executive VP/COO/CFO/Treasurer
$731,029Pt VII · Sec A
SVP, Graduate and Online Education
$699,203Pt VII · Sec A
SVP, Institutional Advancement
$693,018Pt VII · Sec A
SVP and General Counsel
$686,490Pt VII · Sec A
Nina Henderson Provost & EVP
$659,811Pt VII · Sec A
SVP, Student Success & Int SVP
$640,018Pt VII · Sec A

John a Fry’s $1.8M as President (to 9/30/24) is at the 89th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
John a Fry$1,829,538$2,694,118$2,077,353$2,584,592$2,037,295$1,204,239
Randall C Deike$1,067,576
Charles Cairns$1,066,351$815,667$933,892$896,356$714,891
Helen Y Bowman$731,029$724,556$966,123$854,055$880,901$643,219
David Stein Dep 1219$776,760
Paul Jensen$659,811$652,428$715,469$765,058$595,872
David L Unruh$693,018$526,686$576,477$715,888$466,876$680,803
Elisabeth Van Bockstaele$699,203$532,001$611,012$592,322$400,611$412,375

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue$1.2B · 79%
Contributions & grants$218.0M · 15%
Investment income$71.8M · 5%
Other revenue$18.6M · 1%
Program service revenue79%$1.2B
Contributions & grants15%$218.0M
Investment income5%$71.8M
Other revenue1%$18.6M
— government grantsLn 1e$131.0M
Total revenueLn 12$1.5B

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.87 Management & general $0.12 Fundraising $0.01
Program services87%$1.3B
Management & general12%$181.2M
Fundraising1%$17.1M
Total functional expensesLn 25$1.5B

Balance Sheet

Part X · end of year
CashLn 1$41.2M
Total assetsLn 16$2.9B
Total liabilitiesLn 26$1.5B
Total net assetsLn 32$1.4B
Months of cash on handcomputed0.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.1B · Operating expenses (Pt IX) $1.5B · Less non-cash grants $3.8M · Cash operating expenses/yr $1.5B
9.0 months
Where the money goes
Program services
Program services $1.3B · Total expenses $1.5B
87%
Management & General
Management & general $181.2M · Total expenses $1.5B
12%
Fundraising
Fundraising $17.1M · Total expenses $1.5B
1%
Cost to raise $1
Fundraising expense (3-yr avg) $17.4M · Solicited contributions (3-yr avg) $88.4M
$0.20 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $218.0M · Total revenue $1.5B
15%
Government reliance
Government grants $131.0M · Total revenue $1.5B
9%
Earned-income share
Program service revenue $1.2B · Total revenue $1.5B
79%
Investment reliance
Investment income $71.8M · Total revenue $1.5B
+5%
Program self-sufficiency
Program service revenue $1.2B · Total expenses $1.5B
79%
Growth & trend
Revenue growth (YoY)
This year $1.5B · Prior year $1.4B
+5%
Revenue CAGR
FY2019 $1.3B · FY2024 $1.5B
+2%
Net-asset trend (YoY)
End of year $1.4B · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.5B · Expenses $1.5B
-0.5%
Liabilities-to-Assets
Total liabilities — · Total assets $2.9B
Net-asset ratio
Net assets $1.4B · Total assets $2.9B
48%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $440.5M · Other securities (Pt X, ln 12) $625.6M · Total assets (Pt X, ln 16) $2.9B
36%
People & payroll
Highest Reported Total Compensation
Individual John a Fry · Reported title PRESIDENT (TO 9/30/24) · Highest reported compensation $1.8M · Total expenses $1.5B
0.1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $634.4M · Total expenses $1.5B
43%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 87%
Overhead ratio 12%
Fundraising cost ratio 8%
Revenue growth 5%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 10 funders →
Grants paid · 763 grants · $2.6B · 2019–2024
Unitemized GrantFY2024$424,925,678
William Marsh Rice UniversityTX · FY2024$1,013,466
Mathematica INCFY2024$659,903
San Francisco State UniversityFY2024$630,779
Johns Hopkins UniversityMD · FY2024$560,532
Regents of University of California DavisFY2024$426,196
University of New MexicoFY2024$421,343
Lincoln UniversityPA · FY2024$306,181
University of MarylandFY2024$241,056
Unitemized GrantFY2024$217,935
See all 763 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$1.4B revenue · ⤓ 990 PDF
FY2023$1.4B revenue · ⤓ 990 PDF
FY2022$1.4B revenue · ⤓ 990 PDF
FY2021$1.2B revenue · ⤓ 990 PDF
FY2020$1.3B revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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