Lehigh University FY2023 filing

Tax-deductible

Bethlehem, PA501(c)(3)Since 1866Colleges & UniversitiesEIN 24-0795445

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501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$8.1M paid to officers and key staff.
Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · 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
$8.1M
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: 0.5 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
$685.0M
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
27
of 27 voting members
Looks good: 27 of 27 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$695.4M
-3% vs prior year
Spent
$633.3M
To programs
87%
Net assets
$2.4B
By yearFY2020–FY2025
Revenue
$695.4M
FY2023▼ -3%
Revenue by fiscal year
FY2020$506.8M
FY2021$589.8M
FY2022$713.3M
FY2023$695.4M
FY2024$748.5M
FY2025$840.1M
Expenses
$633.3M
FY2023▲ +7%
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
FY2023▲ +3%
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 FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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% · $552.1M Management & general 10% · $62.8M Fundraising 3% · $18.4M

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

42 people listed on the 990; $8.1M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Chief Investment Off.
$1,350,253Pt VII · Sec A
$888,235Pt VII · Sec A
$769,530Pt VII · Sec A
Professor
$583,528Pt VII · Sec A
Assoc Dir. Invest. Off.
$577,244Pt VII · Sec A
Dean,coll. Bus. & Econ.
$525,817Pt VII · Sec A
VP Finance and Adm. Thru 6/30
$506,834Pt VII · Sec A
VP, Advancement
$494,729Pt 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.

Provided by the organization

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3 program services account for $529.9M of program spending, described in the organization's own filed words · FY2022.
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.

$406.8Mprogram 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…

$64.4Mprogram 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.

$58.8Mprogram expense

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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 FY2023 990, line by line.

1The main four
Money inPt VIII
$695.4M
Ln 12
Fees for servicesLn 2g$445.0M
Investment incomeLn 3$151.2M
Gifts and grantsLn 1h$98.7M
Money outPt IX
$633.3M
Ln 25
Programscol B$552.1M
Managementcol C$62.8M
Fundraisingcol D$18.4M
Owns and owesPt X
$2.4B
net assets · Ln 32
Cash and savingsLn 1–2$26.2M
Total assetsLn 16$3.1B
LiabilitiesLn 26$685.0M
PeoplePt VI, VII
42
listed · VII A
PaidVII A15
Voting boardVI 1a27
IndependentVI 1b27
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$98.7M
Government grantsLn 1e$50.0M
Noncash giftsLn 1g$9.2M
Fundraising eventsLn 1c$237K
Fees for servicesLn 2g$445.0M
Investment incomeLn 3$151.2M
Other incomeLn 4–11$576K
Gains on assetsLn 7$119.8M
Total revenueLn 12$695.4M
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$26.2M
Cash and savings togetherLn 1–2$26.2M
InvestmentsLn 11–13$2.27B
Land, buildings, equipmentLn 10c$766.2M
Other assetsLn 15$16.2M
Total assetsLn 16$3.1B
LiabilitiesLn 26$685.0M
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 FY23End FY23
Cash and savingsLn 1–2$43.1M$26.2M
InvestmentsLn 11–13$2.21B$2.27B
Land, buildings, equipmentLn 10c$739.8M$766.2M
Total assetsLn 16$3.06B$3.13B
LiabilitiesLn 26$685.7M$685.0M
Net assetsLn 32$2.37B$2.44B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5.0M$5.0M
Grants to domestic individualsLn 2$143.1M$143.1M
Grants and assistance to foreign recipientsLn 3$5.3M$5.3M
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$4.8M$901K$3.5M$413K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$202.0M$175.5M$18.1M$8.3M
Pension plan contributionsLn 8$16.5M$13.9M$1.8M$740K
Other employee benefitsLn 9$36.9M$31.2M$4.0M$1.7M
Payroll taxesLn 10$13.0M$11.0M$1.5M$584K
Management feesLn 11a$0
Legal feesLn 11b$842K$194K$648K
Accounting feesLn 11c$902K$50K$852K
Lobbying feesLn 11d$123K$123K
Professional fundraising feesLn 11e$77K$77K
Investment management feesLn 11f$7.0M$7.0M
Other fees for servicesLn 11g$32.1M$28.3M$3.7M$118K
Advertising and promotionLn 12$2.9M$2.4M$290K$222K
Office expensesLn 13$26.6M$23.4M$2.3M$902K
Information technologyLn 14$6.1M$3.5M$2.5M$94K
RoyaltiesLn 15$0
OccupancyLn 16$42.8M$36.0M$4.9M$1.9M
TravelLn 17$8.1M$7.6M$244K$223K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$5.0M$4.5M$233K$358K
InterestLn 20$20.3M$15.9M$3.5M$848K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$41.4M$34.9M$4.7M$1.9M
InsuranceLn 23$2.2M$2.2M$1K
Other expenses (24a–d)Ln 24$10.0M$9.2M$691K$93K
Total functional expensesLn 25$633.3M$552.1M$62.8M$18.4M

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 Viewing $695.4M$633.3M$62.1M$2.4B 990 PDF
FY2022 $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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $695,392,244 across 12 lines filed
VIII-1c Fundraising events$236,672
VIII-1e Government grants$50,027,395
VIII-1f All other contributions, gifts and grants$48,389,151
VIII-1g Noncash contributions (included above)$9,237,287
VIII-1h Total contributions, gifts and grants$98,653,218
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $444,017,280 · Unrelated business $947,927$444,965,207
VIII-3 Investment incomeUnrelated business −$1,588,679 · Excluded from tax $32,981,015$31,392,336
VIII-5 RoyaltiesExcluded from tax $423,523$423,523
VIII-6 Net rental income or lossExcluded from tax $476,782$476,782
VIII-7 Net gain or loss on sales of assetsExcluded from tax $119,805,201$119,805,201
VIII-8 Net income from fundraising eventsExcluded from tax −$324,023−$324,023
VIII-12 Total revenueRelated to mission $444,017,280 · Unrelated business −$640,752 · Excluded from tax $153,362,498$695,392,244
Part IX · Statement of functional expenses $633,294,461 across 30 lines filed
IX-1 Grants to domestic organizationsPrograms $5,002,727$5,002,727
IX-2 Grants to domestic individualsPrograms $143,090,487$143,090,487
IX-3 Grants and assistance to foreign recipientsPrograms $5,340,416$5,340,416
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $900,834 · Management $3,525,200 · Fundraising $413,309$4,839,343
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $175,529,864 · Management $18,148,102 · Fundraising $8,320,283$201,998,249
IX-8 Pension plan contributionsPrograms $13,908,327 · Management $1,841,910 · Fundraising $739,994$16,490,231
IX-9 Other employee benefitsPrograms $31,211,926 · Management $4,047,241 · Fundraising $1,652,601$36,911,768
IX-10 Payroll taxesPrograms $10,972,368 · Management $1,486,325 · Fundraising $584,189$13,042,882
IX-11a Management fees$0
IX-11b Legal feesPrograms $193,959 · Management $647,881$841,840
IX-11c Accounting feesPrograms $49,654 · Management $852,388$902,042
IX-11d Lobbying feesPrograms $123,000$123,000
IX-11e Professional fundraising feesFundraising $76,736$76,736
IX-11f Investment management feesManagement $7,012,667$7,012,667
IX-11g Other fees for servicesPrograms $28,313,501 · Management $3,663,512 · Fundraising $117,973$32,094,986
IX-12 Advertising and promotionPrograms $2,407,371 · Management $290,052 · Fundraising $221,516$2,918,939
IX-13 Office expensesPrograms $23,408,560 · Management $2,295,038 · Fundraising $902,116$26,605,714
IX-14 Information technologyPrograms $3,497,869 · Management $2,516,140 · Fundraising $94,024$6,108,033
IX-15 Royalties$0
IX-16 OccupancyPrograms $36,044,616 · Management $4,861,529 · Fundraising $1,908,494$42,814,639
IX-17 TravelPrograms $7,591,750 · Management $243,798 · Fundraising $222,810$8,058,358
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $4,452,263 · Management $233,172 · Fundraising $357,929$5,043,364
IX-20 InterestPrograms $15,941,164 · Management $3,491,013 · Fundraising $848,392$20,280,569
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortizationPrograms $34,855,622 · Management $4,721,568 · Fundraising $1,855,779$41,432,969
IX-23 InsuranceManagement $2,243,817 · Fundraising $1,468$2,245,285
IX-24 Other expenses (24a–d)Programs $9,234,970 · Management $691,045 · Fundraising $93,202$10,019,217
IX-25 Total functional expensesPrograms $552,071,248 · Management $62,812,398 · Fundraising $18,410,815$633,294,461
Part X · Balance sheet $3,127,359,714 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $43,134,777$26,246,000
X-3 Pledges and grants receivableStart of year $38,418,832$30,378,547
X-4 Accounts receivableStart of year $9,510,728$8,821,271
X-8 Inventories for sale or useStart of year $1,760,871$1,716,161
X-9 Prepaid expenses and deferred chargesStart of year $6,716,098$9,796,964
X-10c Land, buildings and equipment, netStart of year $739,758,481$766,215,510
X-11 Publicly traded securitiesStart of year $624,785,224$637,744,213
X-12 Other securitiesStart of year $1,574,077,606$1,623,269,362
X-13 Program-related investmentsStart of year $6,927,706$6,970,637
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $12,211,192$16,201,049
X-16 Total assetsStart of year $3,057,301,515$3,127,359,714
X-17 Accounts payable and accrued expensesStart of year $52,413,650$55,033,331
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $16,307,020$14,699,831
X-20 Tax-exempt bond liabilitiesStart of year $180,093,919$172,999,285
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $118,419,084$123,695,776
X-26 Total liabilitiesStart of year $685,731,798$684,989,727
X-27 Net assets without donor restrictionsStart of year $1,135,510,137$1,180,544,594
X-28 Net assets with donor restrictionsStart of year $1,236,059,580$1,261,825,393
X-32 Total net assets or fund balancesStart of year $2,371,569,717$2,442,369,987
X-33 Total liabilities and net assetsStart of year $3,057,301,515$3,127,359,714
Part XI · Reconciliation of net assets $2,442,369,987 net assets at year end
XI-1 Total revenue$695,392,244
XI-2 Total expenses$633,294,461
XI-3 Revenue less expenses$62,097,783
XI-4 Net assets at start of year$2,371,569,717
XI-5 Net unrealized gains (losses) on investments$8,820,178
XI-9 Other changes in net assets−$117,691
XI-10 Net assets at end of year$2,442,369,987

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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