Lehigh University FY2022 filing

Tax-deductible

Bethlehem, PA501(c)(3)Since 1866Colleges & UniversitiesEIN 24-0795445Revenue $713.3M in FY2022

On file with the IRSlehigh.edu306 S New St Suite 464, 18015-1652 · Bethlehem, PATax-exempt since Apr 1938School — 170(b)(1)(A)(ii)

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501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$8.4M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · 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
5 of 6
filings with a surplus
Average surplus $69.5M a year · 10% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$8.4M
to officers and key staff · 1% 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: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
18
named funders · $632K
Looks good: 18 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$685.7M
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$713.3M
+21% vs prior year
Spent
$590.5M
To programs
87%
Net assets
$2.4B
By yearFY2020–FY2025
Revenue
$713.3M
FY2022▲ +21%
Tap a bar for its year
Revenue by fiscal year
FY2020$506.8M
FY2021$589.8M
FY2022$713.3M
FY2023$695.4M
FY2024$748.5M
FY2025$840.1M
Expenses
$590.5M
FY2022▲ +16%
Tap a bar for its year
Expenses by fiscal year
FY2020$524.4M
FY2021$507.0M
FY2022$590.5M
FY2023$633.3M
FY2024$690.3M
FY2025$731.2M
Net assets
$2.4B
FY2022▼ -3%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.0B
FY2021$2.5B
FY2022$2.4B
FY2023$2.4B
FY2024$2.6B
FY2025$2.7B

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 Apr 1938.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $513.9M Management & general 10% · $60.0M Fundraising 3% · $16.6M

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

44 people listed on the 990; $8.4M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Chief Investment Off.
$1,309,428Pt VII · Sec A
President End 6/30/21
$1,140,982Pt VII · Sec A
Provost, Interim President
$626,639Pt VII · Sec A
Dean,coll. Bus. & Econ.
$529,421Pt VII · Sec A
VP, Advancement
$482,425Pt VII · Sec A
General Counsel, Secretary
$475,660Pt VII · Sec A
Professor
$474,421Pt VII · Sec A
VP Finance and Admin.
$465,746Pt VII · Sec A

Kristin Agatone’s $1.4M as Chief Investment Off. is at the 84th 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
Kristin Agatone$1,369,597$1,442,147$1,350,253$1,309,428$1,178,000$1,522,394
John D Simon$160,519$313,301$583,528$1,140,982$1,131,518$914,361
Joseph J Helble$1,084,009$957,276$888,235$339,665——
Nathaniel N Urban$732,579$668,637$769,530$626,639——
Michael D Gould$696,296$737,540$577,244$445,636——
Patrick V Farrell—$167,671$296,818$408,762$696,839$541,111
Georgette C Phillips$536,997$541,538$525,817$529,421$475,894$494,800
Paul Brockman$535,725$516,103$490,770$474,421$466,704$460,531

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides higher education, fostering intellectual, physical, social, ethical, and spiritual development within a diverse, residential university community.

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Provided by the organization

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3 programs · $489.1M · in their own filed words · FY2021
01

Instruction

Lehigh is an independent, coeducational university with programs offered in four colleges: arts and sciences, business and economics, education, and engineering and applied sciences. An interdisciplinary mindset has long been a part of the lehigh culture and is evident in the university's approach to teaching and research.

$377.7Mprogram expense
02

Research

Lehigh is committed to the pursuit of new knowledge, creative discovery, scholarly inquiry, and establishing a vibrant intellectual culture that pervades the campus community. Faculty research and creative work has been recognized nationally and internationally by high honors from peers, significant grants and funding, patents granted…

$59.3Mprogram expense
03

Auxiliary Services

Student life at lehigh creates a balanced educational experience that integrates formal studies with residential life and a vibrant array of student organizations and activities. Lehigh is a caring community deeply committed to harmonious cultural diversity as an essential element of the learning environment.

$52.2Mprogram 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 18 funders →
Grants paid · 252 grants · $869.0M · 2019–2024
Unitemized GrantFY2024$166,491,934
Carnegie Mellon UniversityPA · FY2024$1,198,295
The Ohio State UniversityOH · FY2024$1,192,148
Cornell UniversityNY · FY2024$349,742
Drexel UniversityPA · FY2024$245,656
University of TexasFY2024$175,929
Florida Atlantic UniversityFY2024$151,058
Wichita State UniversityFY2024$117,897
See all 252 grants →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$713.3M
Ln 12
Fees for servicesLn 2g$415.4M
Investment incomeLn 3$188.7M
Gifts and grantsLn 1h$108.3M
Money outPt IX
$590.5M
Ln 25
Programscol B$513.9M
Managementcol C$60.0M
Fundraisingcol D$16.6M
Owns and owesPt X
$2.4B
net assets · Ln 32
Cash and savingsLn 1–2$43.1M
Total assetsLn 16$3.1B
LiabilitiesLn 26$685.7M
PeoplePt VI, VII
44
listed · VII A
PaidVII A16
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$108.3M
Government grantsLn 1e$58.5M
Noncash giftsLn 1g$14.5M
Fundraising eventsLn 1c$19K
Fees for servicesLn 2g$415.4M
Investment incomeLn 3$188.7M
Other incomeLn 4–11$842K
Gains on assetsLn 7$131.0M
Total revenueLn 12$713.3M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$43.1M
Cash and savings togetherLn 1–2$43.1M
InvestmentsLn 11–13$2.21B
Land, buildings, equipmentLn 10c$739.8M
Other assetsLn 15$12.2M
Total assetsLn 16$3.1B
LiabilitiesLn 26$685.7M
Net assetsLn 32$2.4B
OperationsPt I, VI
EmployeesI 51,900
VolunteersI 61,613
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 FY22End FY22
Cash and savingsLn 1–2$48.2M$43.1M
InvestmentsLn 11–13$2.36B$2.21B
Land, buildings, equipmentLn 10c$675.3M$739.8M
Total assetsLn 16$3.15B$3.06B
LiabilitiesLn 26$700.4M$685.7M
Net assetsLn 32$2.45B$2.37B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$4.7M$4.7M
Grants to domestic individualsLn 2$136.7M$136.7M
Grants and assistance to foreign recipientsLn 3$4.2M$4.2M
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$5.0M$1.5M$3.4M$181K
Pay of disqualified personsLn 6$1.7M$1.6M$82K
Other salaries and wagesLn 7$186.4M$163.2M$16.0M$7.3M
Pension plan contributionsLn 8$15.7M$13.5M$1.5M$659K
Other employee benefitsLn 9$34.4M$29.4M$3.5M$1.4M
Payroll taxesLn 10$12.1M$10.4M$1.2M$504K
Management feesLn 11a$0
Legal feesLn 11b$1.4M$752K$683K$1K
Accounting feesLn 11c$1.0M$13K$1.0M
Lobbying feesLn 11d$153K$153K
Professional fundraising feesLn 11e$85K$85K
Investment management feesLn 11f$8.4M$8.4M
Other fees for servicesLn 11g$27.1M$23.4M$3.0M$774K
Advertising and promotionLn 12$2.5M$2.1M$117K$283K
Office expensesLn 13$30.6M$23.3M$6.4M$954K
Information technologyLn 14$5.7M$3.4M$2.2M$94K
RoyaltiesLn 15$0
OccupancyLn 16$40.5M$34.9M$4.0M$1.7M
TravelLn 17$4.4M$4.1M$172K$83K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$3.7M$2.9M$452K$309K
InterestLn 20$13.5M$11.6M$1.4M$562K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$38.3M$32.8M$3.9M$1.6M
InsuranceLn 23$2.8M$422K$2.4M
Other expenses (24a–d)Ln 24$9.2M$8.8M$307K$98K
Total functional expensesLn 25$590.5M$513.9M$60.0M$16.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $840.1M$731.2M$108.9M$2.7B 990 PDF
FY2024 $748.5M$690.3M$58.2M$2.6B 990 PDF
FY2023 $695.4M$633.3M$62.1M$2.4B 990 PDF
FY2022 Viewing $713.3M$590.5M$122.8M$2.4B 990 PDF
FY2021 $589.8M$507.0M$82.8M$2.5B 990 PDF
FY2020 $506.8M$524.4M−$17.6M$2.0B 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 FY2022 990 (6 parts)
Part I · Summary $713,288,867 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $91,013,549$108,346,937
I-9 Program service revenuePrior year $340,905,695$415,386,379
I-10 Investment incomePrior year $157,299,685$188,713,198
I-11 Other revenuePrior year $579,819$842,353
I-12 Total revenuePrior year $589,798,748$713,288,867
I-13 Grants and similar amounts paidPrior year $124,701,355$145,626,608
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $232,845,233$255,395,916
I-16a Professional fundraising feesPrior year $154,363$84,964
I-17 Other expensesPrior year $149,270,893$189,411,164
I-18 Total expensesPrior year $506,971,844$590,518,652
I-19 Revenue less expensesPrior year $82,826,904$122,770,215
Part VI · Governance 10 of 10 board members independent, no flags
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsNo
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 $713,288,867 across 12 lines filed
VIII-1c Fundraising events$19,404
VIII-1e Government grants$58,474,808
VIII-1f All other contributions, gifts and grants$49,852,725
VIII-1g Noncash contributions (included above)$14,545,052
VIII-1h Total contributions, gifts and grants$108,346,937
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $414,479,548 · Unrelated business $906,831$415,386,379
VIII-3 Investment incomeUnrelated business $1,326,682 · Excluded from tax $56,351,932$57,678,614
VIII-5 RoyaltiesExcluded from tax $316,027$316,027
VIII-6 Net rental income or lossExcluded from tax $536,187$536,187
VIII-7 Net gain or loss on sales of assetsExcluded from tax $131,034,584$131,034,584
VIII-8 Net income from fundraising eventsExcluded from tax −$9,861−$9,861
VIII-12 Total revenueRelated to mission $414,479,548 · Unrelated business $2,233,513 · Excluded from tax $188,228,869$713,288,867
Part IX · Statement of functional expenses $590,518,652 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $4,704,383$4,704,383
IX-2 Grants to domestic individualsPrograms $136,747,637$136,747,637
IX-3 Grants and assistance to foreign recipientsPrograms $4,174,588$4,174,588
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $1,475,459 · Management $3,380,421 · Fundraising $181,180$5,037,060
IX-6 Pay of disqualified personsPrograms $1,610,332 · Management $81,749$1,692,081
IX-7 Other salaries and wagesPrograms $163,155,546 · Management $15,972,489 · Fundraising $7,320,383$186,448,418
IX-8 Pension plan contributionsPrograms $13,510,936 · Management $1,529,817 · Fundraising $658,530$15,699,283
IX-9 Other employee benefitsPrograms $29,446,274 · Management $3,499,447 · Fundraising $1,428,553$34,374,274
IX-10 Payroll taxesPrograms $10,401,445 · Management $1,239,436 · Fundraising $503,919$12,144,800
IX-11a Management fees$0
IX-11b Legal feesPrograms $751,635 · Management $683,108 · Fundraising $1,432$1,436,175
IX-11c Accounting feesPrograms $13,115 · Management $1,015,942$1,029,057
IX-11d Lobbying feesPrograms $153,000$153,000
IX-11e Professional fundraising feesFundraising $84,964$84,964
IX-11f Investment management feesManagement $8,384,861$8,384,861
IX-11g Other fees for servicesPrograms $23,386,586 · Management $2,960,885 · Fundraising $773,796$27,121,267
IX-12 Advertising and promotionPrograms $2,074,728 · Management $116,831 · Fundraising $282,923$2,474,482
IX-13 Office expensesPrograms $23,303,195 · Management $6,359,038 · Fundraising $953,518$30,615,751
IX-14 Information technologyPrograms $3,426,722 · Management $2,216,246 · Fundraising $93,797$5,736,765
IX-15 Royalties$0
IX-16 OccupancyPrograms $34,884,130 · Management $3,974,155 · Fundraising $1,690,034$40,548,319
IX-17 TravelPrograms $4,117,150 · Management $172,470 · Fundraising $82,602$4,372,222
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $2,920,195 · Management $452,460 · Fundraising $309,424$3,682,079
IX-20 InterestPrograms $11,602,158 · Management $1,369,815 · Fundraising $561,573$13,533,546
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $32,791,597 · Management $3,907,446 · Fundraising $1,588,657$38,287,700
IX-23 InsurancePrograms $421,648 · Management $2,367,965$2,789,613
IX-24 Other expenses (24a–d)Programs $8,841,214 · Management $307,447 · Fundraising $97,666$9,246,327
IX-25 Total functional expensesPrograms $513,913,673 · Management $59,992,028 · Fundraising $16,612,951$590,518,652
Part X · Balance sheet $3,057,301,515 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $48,249,052$43,134,777
X-3 Pledges and grants receivableStart of year $43,485,851$38,418,832
X-4 Accounts receivableStart of year $9,573,086$9,510,728
X-8 Inventories for sale or useStart of year $1,713,172$1,760,871
X-9 Prepaid expenses and deferred chargesStart of year $4,661,544$6,716,098
X-10c Land, buildings and equipment, netStart of year $675,329,777$739,758,481
X-11 Publicly traded securitiesStart of year $671,066,451$624,785,224
X-12 Other securitiesStart of year $1,684,283,740$1,574,077,606
X-13 Program-related investmentsStart of year $7,079,741$6,927,706
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $6,125,498$12,211,192
X-16 Total assetsStart of year $3,151,567,912$3,057,301,515
X-17 Accounts payable and accrued expensesStart of year $43,699,750$52,413,650
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $14,131,682$16,307,020
X-20 Tax-exempt bond liabilitiesStart of year $186,809,229$180,093,919
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $137,362,268$118,419,084
X-26 Total liabilitiesStart of year $700,437,676$685,731,798
X-27 Net assets without donor restrictionsStart of year $1,146,949,702$1,135,510,137
X-28 Net assets with donor restrictionsStart of year $1,304,180,534$1,236,059,580
X-32 Total net assets or fund balancesStart of year $2,451,130,236$2,371,569,717
X-33 Total liabilities and net assetsStart of year $3,151,567,912$3,057,301,515
Part XI · Reconciliation of net assets $2,371,569,717 net assets at year end
XI-1 Total revenue$713,288,867
XI-2 Total expenses$590,518,652
XI-3 Revenue less expenses$122,770,215
XI-4 Net assets at start of year$2,451,130,236
XI-5 Net unrealized gains (losses) on investments−$230,596,575
XI-9 Other changes in net assets$28,265,841
XI-10 Net assets at end of year$2,371,569,717

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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