Drexel University FY2021 filing

Tax-deductible

Philadelphia, PA501(c)(3)Since 1894Colleges & UniversitiesEIN 23-1352630Revenue $1.2B in FY2021

On file with the IRSdrexel.edu3201 Arch St Ste 400, 19104-2755 · Philadelphia, PATax-exempt since Aug 1927School — 170(b)(1)(A)(ii)

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Drexel University fulfills its founder's vision of preparing each new generation of students for productive professional and civic lives while also focusing its collective expertise on solving society's greatest problems. Drexel is an academically comprehensive and globally engaged urban research University, dedicated to advancing knowledge and society and to providing every student with a valuable, rigorous, experiential, technology-infused education, enriched by the nation's premier co-operative education program.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
$11.8M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average deficit $5.4M a year · under 1% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$11.8M
to officers and key staff · 0.9% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
15
named funders · $575K
Looks good: 15 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.1B
45% of total assets
Looks good: liabilities are 45% of assets; 50% or less.
Pt X · Ln 26
Independent board members
56
of 60 voting members
Looks good: 56 of 60 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2B
-7% vs prior year
Spent
$1.2B
To programs
84%
Net assets
$1.3B
By yearFY2020–FY2025
Revenue
$1.2B
FY2021▼ -7%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.3B
FY2021$1.2B
FY2022$1.4B
FY2023$1.4B
FY2024$1.4B
FY2025$1.5B
Expenses
$1.2B
FY2021▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.3B
FY2021$1.2B
FY2022$1.3B
FY2023$1.4B
FY2024$1.5B
FY2025$1.5B
Net assets
$1.3B
FY2021▲ +13%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.2B
FY2021$1.3B
FY2022$1.3B
FY2023$1.3B
FY2024$1.4B
FY2025$1.4B

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1927.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

84 cents of each dollar spent went to programs.

Program services 84% · $1.0B Management & general 15% · $187.0M Fundraising 1% · $14.6M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

84 people listed on the 990; $11.8M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President
$2,037,295Pt VII · Sec A
Executive VP/Treasurer/COO
$880,901Pt VII · Sec A
Dean & SVP, Med Affairs Com
$714,891Pt VII · Sec A
Former Dean Emeritus, College of Medicine
$625,635Pt VII · Sec A
SVP & Nina Henderson Provost
$595,872Pt VII · Sec A
SVP Inst Advancement
$466,876Pt VII · Sec A
Head Coach, Basketball
$457,857Pt VII · Sec A
SVP and General Counsel
$456,658Pt 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

NameFY2025FY2024FY2023FY2022FY2021FY2020
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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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides integrated academic programs and delivers high-quality, community-focused healthcare services, including specialized clinical care, health promotion, and disease prevention.

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Provided by the organization

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3 programs · $1.0B · in their own filed words · FY2020
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.

$877.2Mprogram 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, but its output rivals that of universities that receive anywhere…

$153.7Mprogram expense
03

Patient CARE/PUBLIC serviceit is the college'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.

$17.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 15 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 →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.2B
Ln 12
Fees for servicesLn 2g$1.0B
Gifts and grantsLn 1h$241.0M
Investment incomeLn 3$14.2M
Money outPt IX
$1.2B
Ln 25
Programscol B$1.0B
Managementcol C$187.0M
Fundraisingcol D$14.6M
Owns and owesPt X
$1.3B
net assets · Ln 32
Cash and savingsLn 1–2$86.2M
Total assetsLn 16$2.4B
LiabilitiesLn 26$1.1B
PeoplePt VI, VII
84
listed · VII A
PaidVII A25
Voting boardVI 1a60
IndependentVI 1b56
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$241.0M
Government grantsLn 1e$161.5M
Noncash giftsLn 1g$1.1M
Fundraising eventsLn 1c$325K
Fees for servicesLn 2g$1.0B
Investment incomeLn 3$14.2M
Gains on assetsLn 7−$33.2M
Total revenueLn 12$1.2B
Assets in detailPt X, end of year
CashLn 1$89K
SavingsLn 2$86.1M
Cash and savings togetherLn 1–2$86.2M
InvestmentsLn 11–13$1.01B
Land, buildings, equipmentLn 10c$900.7M
Other assetsLn 15$204.6M
Total assetsLn 16$2.4B
LiabilitiesLn 26$1.1B
Net assetsLn 32$1.3B
OperationsPt I, VI
EmployeesI 512,301
VolunteersI 63,877
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$76.8M$86.2M
InvestmentsLn 11–13$807.4M$1.01B
Land, buildings, equipmentLn 10c$918.0M$900.7M
Total assetsLn 16$2.26B$2.42B
LiabilitiesLn 26$1.08B$1.08B
Net assetsLn 32$1.18B$1.34B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$17.6M$17.6M
Grants to domestic individualsLn 2$405.7M$405.7M
Grants and assistance to foreign recipientsLn 3$2.2M$2.2M
Pay of current officers, directors and key staffLn 5$8.5M$2.2M$5.3M$1.0M
Other salaries and wagesLn 7$403.8M$347.6M$47.1M$9.2M
Pension plan contributionsLn 8$8.3M$7.1M$1.1M$206K
Other employee benefitsLn 9$46.2M$38.2M$6.8M$1.1M
Payroll taxesLn 10$27.8M$23.6M$3.5M$678K
Management feesLn 11a$1.4M$1.4M$9K
Legal feesLn 11b$3.3M$338K$3.0M$173
Accounting feesLn 11c$518K$57K$461K
Lobbying feesLn 11d$755K$641K$107K$7K
Professional fundraising feesLn 11e$201K$201K
Investment management feesLn 11f$3.6M$3.6M
Other fees for servicesLn 11g$50.2M$39.2M$10.4M$731K
Advertising and promotionLn 12$12.2M$12.1M$68K$1K
Office expensesLn 13$29.7M$27.4M$1.9M$349K
Information technologyLn 14$20.5M$17.3M$2.6M$615K
RoyaltiesLn 15$1.6M$1.6M
OccupancyLn 16$70.1M$31.6M$38.5M$1K
TravelLn 17$1.5M$1.4M$75K$3K
Conferences, conventions and meetingsLn 19$1.0M$644K$274K$103K
InterestLn 20$19.2M$16.5M$2.7M
Payments to affiliatesLn 21$5.6M$415K$5.2M
Depreciation, depletion and amortizationLn 22$50.0M$46.5M$3.5M
InsuranceLn 23$6.5M$1.5M$4.7M$282K
Other expenses (24a–d)Ln 24$41.8M$5.7M$36.1M$55K
All other expensesLn 24e$10.2M−$21K$10.1M$136K
Total functional expensesLn 25$1.25B$1.05B$187.0M$14.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.5B$1.5B−$7.5M$1.4B 990 PDF
FY2024 $1.4B$1.5B−$52.2M$1.4B 990 PDF
FY2023 $1.4B$1.4B$7.2M$1.3B 990 PDF
FY2022 $1.4B$1.3B$23.5M$1.3B 990 PDF
FY2021 Viewing $1.2B$1.2B−$8.2M$1.3B 990 PDF
FY2020 $1.3B$1.3B$5.0M$1.2B 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $1,241,696,208 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $183,627,688$241,046,762
I-9 Program service revenuePrior year $1,071,393,808$1,003,411,076
I-10 Investment incomePrior year $55,221,476−$18,988,049
I-11 Other revenuePrior year $19,279,571$16,226,419
I-12 Total revenuePrior year $1,329,522,543$1,241,696,208
I-13 Grants and similar amounts paidPrior year $423,762,572$425,417,296
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $572,513,195$494,578,091
I-16a Professional fundraising feesPrior year $197,566$201,245
I-17 Other expensesPrior year $328,029,147$329,745,303
I-18 Total expensesPrior year $1,324,502,480$1,249,941,935
I-19 Revenue less expensesPrior year $5,020,063−$8,245,727
Part VI · Governance 56 of 60 board members independent, 1 to look at
VI-1a Voting members of the governing body60
VI-1b Independent voting members56
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,241,696,208 across 15 lines filed
Lines not itemized here account for −$590,789 of total revenue; see the IRS return.
VIII-1a Federated campaigns$6,449
VIII-1c Fundraising events$325,422
VIII-1d Related organizations$41,060,567
VIII-1e Government grants$161,501,732
VIII-1f All other contributions, gifts and grants$38,152,592
VIII-1g Noncash contributions (included above)$1,072,366
VIII-1h Total contributions, gifts and grants$241,046,762
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,003,411,076$1,003,411,076
VIII-3 Investment incomeExcluded from tax $14,164,438$14,164,438
VIII-5 RoyaltiesExcluded from tax $929,509$929,509
VIII-6 Net rental income or lossExcluded from tax $3,300,301$3,300,301
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$33,152,487−$33,152,487
VIII-8 Net income from fundraising eventsExcluded from tax −$54,963−$54,963
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,121,855 · Unrelated business $2,520,506$12,642,361
VIII-12 Total revenueRelated to mission $1,013,532,931 · Unrelated business $1,929,717 · Excluded from tax −$14,813,202$1,241,696,208
Part IX · Statement of functional expenses $1,249,941,935 across 28 lines filed
IX-1 Grants to domestic organizationsPrograms $17,560,563$17,560,563
IX-2 Grants to domestic individualsPrograms $405,690,739$405,690,739
IX-3 Grants and assistance to foreign recipientsPrograms $2,165,994$2,165,994
IX-5 Pay of current officers, directors and key staffPrograms $2,207,886 · Management $5,259,074 · Fundraising $1,000,067$8,467,027
IX-7 Other salaries and wagesPrograms $347,568,267 · Management $47,076,626 · Fundraising $9,181,486$403,826,379
IX-8 Pension plan contributionsPrograms $7,084,206 · Management $1,052,370 · Fundraising $206,205$8,342,781
IX-9 Other employee benefitsPrograms $38,231,377 · Management $6,837,625 · Fundraising $1,081,002$46,150,004
IX-10 Payroll taxesPrograms $23,600,693 · Management $3,513,657 · Fundraising $677,550$27,791,900
IX-11a Management feesPrograms $1,395,322 · Management $8,825$1,404,147
IX-11b Legal feesPrograms $337,838 · Management $3,001,592 · Fundraising $173$3,339,603
IX-11c Accounting feesPrograms $57,036 · Management $460,530$517,566
IX-11d Lobbying feesPrograms $641,426 · Management $106,826 · Fundraising $7,130$755,382
IX-11e Professional fundraising feesFundraising $201,245$201,245
IX-11f Investment management feesManagement $3,560,982$3,560,982
IX-11g Other fees for servicesPrograms $39,152,008 · Management $10,350,357 · Fundraising $731,146$50,233,511
IX-12 Advertising and promotionPrograms $12,091,326 · Management $67,907 · Fundraising $1,496$12,160,729
IX-13 Office expensesPrograms $27,441,402 · Management $1,890,095 · Fundraising $348,741$29,680,238
IX-14 Information technologyPrograms $17,273,256 · Management $2,644,502 · Fundraising $614,852$20,532,610
IX-15 RoyaltiesPrograms $1,617,033$1,617,033
IX-16 OccupancyPrograms $31,553,043 · Management $38,543,981 · Fundraising $1,206$70,098,230
IX-17 TravelPrograms $1,383,607 · Management $75,185 · Fundraising $2,700$1,461,492
IX-19 Conferences, conventions and meetingsPrograms $644,219 · Management $274,383 · Fundraising $102,684$1,021,286
IX-20 InterestPrograms $16,522,680 · Management $2,700,987$19,223,667
IX-21 Payments to affiliatesPrograms $414,819 · Management $5,206,276$5,621,095
IX-22 Depreciation, depletion and amortizationPrograms $46,459,246 · Management $3,525,471$49,984,717
IX-23 InsurancePrograms $1,536,042 · Management $4,728,464 · Fundraising $281,636$6,546,142
IX-24 Other expenses (24a–d)Programs $5,664,338 · Management $36,065,823 · Fundraising $54,541$41,784,702
IX-24e All other expensesPrograms −$21,039 · Management $10,087,533 · Fundraising $135,677$10,202,171
IX-25 Total functional expensesPrograms $1,048,273,327 · Management $187,039,071 · Fundraising $14,629,537$1,249,941,935
Part X · Balance sheet $2,420,281,154 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $85,891$88,965
X-2 Savings and temporary cash investmentsStart of year $76,718,181$86,082,232
X-3 Pledges and grants receivableStart of year $138,092,605$135,234,941
X-4 Accounts receivableStart of year $95,193,174$78,509,097
X-9 Prepaid expenses and deferred chargesStart of year $6,202,595$7,048,205
X-10c Land, buildings and equipment, netStart of year $917,984,460$900,708,248
X-11 Publicly traded securitiesStart of year $448,748,560$502,046,843
X-12 Other securitiesStart of year $340,220,000$492,895,000
X-13 Program-related investmentsStart of year $18,473,380$13,051,787
X-15 Other assetsStart of year $219,596,406$204,615,836
X-16 Total assetsStart of year $2,261,315,252$2,420,281,154
X-17 Accounts payable and accrued expensesStart of year $180,987,736$184,573,053
X-19 Deferred revenueStart of year $144,734,522$139,273,833
X-20 Tax-exempt bond liabilitiesStart of year $514,862,441$454,657,462
X-25 Other liabilitiesStart of year $236,196,452$198,024,636
X-26 Total liabilitiesStart of year $1,076,781,151$1,080,628,984
X-27 Net assets without donor restrictionsStart of year $551,943,374$592,807,203
X-28 Net assets with donor restrictionsStart of year $632,590,727$746,844,967
X-32 Total net assets or fund balancesStart of year $1,184,534,101$1,339,652,170
X-33 Total liabilities and net assetsStart of year $2,261,315,252$2,420,281,154
Part XI · Reconciliation of net assets $1,339,652,170 net assets at year end
XI-1 Total revenue$1,241,696,208
XI-2 Total expenses$1,249,941,935
XI-3 Revenue less expenses−$8,245,727
XI-4 Net assets at start of year$1,184,534,101
XI-5 Net unrealized gains (losses) on investments$163,363,796
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,339,652,170

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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