Capital University

Tax-deductible

Columbus, OH501(c)(3)Since 1830Colleges & UniversitiesEIN 31-4379435

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Capital University transforms lives by empowering an inclusive community of learners through engaging academic, co-curricular, and professional experiences.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 21 volunteers and 1,455 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $1.1M a year · under 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.7M
to officers and key staff · 2% of spending
Top officer’s pay lower than 78% of similar orgs
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $39K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$57.3M
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
20
of 21 voting members
Looks good: 20 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$121.5M
-0.9% vs prior year
Spent
$126.3M
To programs
91%
Net assets
$240.7M
By yearFY2020–FY2024
Revenue
$121.5M
FY2024▼ -0.9%
Revenue by fiscal year
FY2020$130.4M
FY2021$141.6M
FY2022$132.4M
FY2023$125.1M
FY2024$122.6M
FY2024$121.5M
Expenses
$126.3M
FY2024▼ -3%
Expenses by fiscal year
FY2020$134.8M
FY2021$128.6M
FY2022$132.1M
FY2023$131.4M
FY2024$130.9M
FY2024$126.3M
Net assets
$240.7M
FY2024▲ +1%
Net assets by fiscal year
FY2020$221.4M
FY2021$256.7M
FY2022$238.3M
FY2023$241.7M
FY2024$237.7M
FY2024$240.7M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1971.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $114.9M Management & general 8% · $9.6M Fundraising 2% · $1.9M

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

34 people listed on the 990; $2.7M paid to officers and key staff.

Part VII, Section A · reportable compensation
President
$374,580Pt VII · Sec A
Dean of Law School
$280,722Pt VII · Sec A
Vp-Business&fin./Treasurer
$253,865Pt VII · Sec A
Provost and Vp-Learning
$223,226Pt VII · Sec A
$216,235Pt VII · Sec A
Faculty
$209,191Pt VII · Sec A
Vp-Inst.integr./Univ.counsel
$200,185Pt VII · Sec A
$195,838Pt VII · Sec A

David Kaufman’s $375K as President is at the 22nd 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
Elizabeth Paul————$600,905$375,155
David Kaufman$374,580$370,626$404,489$353,209$157,230—
Dixie Jeffers——$362,921———
Don Howard———$330,161——
Reynaldo Valencia$280,722$276,939$290,489$273,319——
William Mea$253,865$248,114$261,814$265,020$223,578$239,235
Jody Fournier$223,226$221,795$207,329$188,657$184,096$197,533
Denvy Bowman$216,235$214,003$213,771$212,408$208,643$207,641

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 engaging academic, co-curricular, and professional experiences to empower and transform an inclusive community of higher education learners.

Provided by the organization

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3 programs · $114.9M · in their own filed words · FY2024
01

Capital university provides academic opportunities to 1,609 undergraduate and 654 graduate and professional students. The university offers four undergraduate degrees with more than 70 majors, and graduate degrees in law, business, nursing, music, education, and theology taught by approximately 131 full-time faculty.

$103.0Mprogram expense
02

Auxiliary enterprise operations primarily furnish goods and services to students, faculty and staff. It is managed as a self-supporting activity and consist primarily dining and housing services.

$11.9Mprogram expense
03

Other consists of miscellaneous fees and program revenues.

Pt IX · col B

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 6 funders →
Grants paid · 13 grants · $327.5M · 2019–2024
Unitemized GrantFY2024$49,872,486
Unitemized GrantFY2024$664,870
Unitemized GrantFY2023$50,773,286
Unitemized GrantFY2023$639,419
Unitemized GrantFY2022$52,637,786
Unitemized GrantFY2022$614,598
Unitemized GrantFY2021$55,840,986
Unitemized GrantFY2021$1,364,753
Unitemized GrantFY2020$56,264,027
Unitemized GrantFY2020$1,270,994
Unitemized GrantFY2019$55,133,845
Unitemized GrantFY2019$2,096,327
Unitemized GrantFY2019$370,001

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$121.5M
Ln 12
Fees for servicesLn 2g$99.7M
Investment incomeLn 3$14.3M
Gifts and grantsLn 1h$7.4M
Money outPt IX
$126.3M
Ln 25
Programscol B$114.9M
Managementcol C$9.6M
Fundraisingcol D$1.9M
Owns and owesPt X
$240.7M
net assets · Ln 32
Cash and savingsLn 1–2$13.7M
Total assetsLn 16$297.9M
LiabilitiesLn 26$57.3M
PeoplePt VI, VII
34
listed · VII A
PaidVII A12
Voting boardVI 1a21
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.4M
Government grantsLn 1e$747K
Noncash giftsLn 1g$12K
Fees for servicesLn 2g$99.7M
Investment incomeLn 3$14.3M
Other incomeLn 4–11$82K
Gains on assetsLn 7$12.7M
Total revenueLn 12$121.5M
Assets in detailPt X, end of year
SavingsLn 2$13.7M
Cash and savings togetherLn 1–2$13.7M
InvestmentsLn 11–13$169.1M
Land, buildings, equipmentLn 10c$98.6M
Other assetsLn 15$11.3M
Total assetsLn 16$297.9M
LiabilitiesLn 26$57.3M
Net assetsLn 32$240.7M
OperationsPt I, VI
EmployeesI 51,455
VolunteersI 621
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$22.7M$13.7M
InvestmentsLn 11–13$157.2M$169.1M
Land, buildings, equipmentLn 10c$98.8M$98.6M
Total assetsLn 16$295.4M$297.9M
LiabilitiesLn 26$57.7M$57.3M
Net assetsLn 32$237.7M$240.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$50.5M$50.5M
Grants and assistance to foreign recipientsLn 3$54K$54K
Pay of current officers, directors and key staffLn 5$1.7M$462K$780K$435K
Other salaries and wagesLn 7$29.5M$26.6M$2.3M$554K
Pension plan contributionsLn 8$955K$823K$95K$36K
Other employee benefitsLn 9$6.0M$5.2M$590K$195K
Payroll taxesLn 10$2.1M$1.8M$186K$69K
Legal feesLn 11b$61K$199$61K
Accounting feesLn 11c$78K$78K
Investment management feesLn 11f$1.0M$1.0M
Other fees for servicesLn 11g$7.7M$6.3M$1.3M$105K
Advertising and promotionLn 12$940K$63K$877K
Office expensesLn 13$2.1M$2.0M$34K$89K
Information technologyLn 14$3.7M$3.3M$212K$181K
OccupancyLn 16$6.8M$6.0M$708K$16K
TravelLn 17$1.2M$1.0M$46K$104K
Conferences, conventions and meetingsLn 19$1.3M$1.1M$112K$129K
InterestLn 20$2.2M$2.1M$109K
Depreciation, depletion and amortizationLn 22$7.6M$7.2M$381K
InsuranceLn 23$793K$103K$690K
Other expenses (24a–d)Ln 24$127K$126K$1K
Total functional expensesLn 25$126.3M$114.9M$9.6M$1.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $122.6M$130.9M−$8.3M$237.7M 990 PDF
FY2023 $125.1M$131.4M−$6.3M$241.7M 990 PDF
FY2022 $132.4M$132.1M$337K$238.3M 990 PDF
FY2021 $141.6M$128.6M$13.0M$256.7M 990 PDF
FY2020 $130.4M$134.8M−$4.5M$221.4M 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 FY2024 990 (5 parts)
Part I · Summary $121,510,087 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,303,910$7,422,851
I-9 Program service revenuePrior year $102,226,571$99,720,325
I-10 Investment incomePrior year $12,960,138$14,285,273
I-11 Other revenuePrior year $79,719$81,638
I-12 Total revenuePrior year $122,570,338$121,510,087
I-13 Grants and similar amounts paidPrior year $51,452,333$50,591,010
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $44,682,945$40,174,985
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $34,728,892$35,563,431
I-18 Total expensesPrior year $130,864,170$126,329,426
I-19 Revenue less expensesPrior year −$8,293,832−$4,819,339
Part VIII · Statement of revenue $121,510,087 across 9 lines filed
VIII-1e Government grants$746,619
VIII-1f All other contributions, gifts and grants$6,676,232
VIII-1g Noncash contributions (included above)$11,800
VIII-1h Total contributions, gifts and grants$7,422,851
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $99,544,048 · Unrelated business $176,277$99,720,325
VIII-3 Investment incomeUnrelated business −$3,110 · Excluded from tax $1,598,476$1,595,366
VIII-6 Net rental income or lossExcluded from tax $81,638$81,638
VIII-7 Net gain or loss on sales of assetsExcluded from tax $12,689,907$12,689,907
VIII-12 Total revenueRelated to mission $99,544,048 · Unrelated business $173,167 · Excluded from tax $14,370,021$121,510,087
Part IX · Statement of functional expenses $126,329,426 across 21 lines filed
IX-2 Grants to domestic individualsPrograms $50,537,356$50,537,356
IX-3 Grants and assistance to foreign recipientsPrograms $53,654$53,654
IX-5 Pay of current officers, directors and key staffPrograms $461,975 · Management $779,701 · Fundraising $434,926$1,676,602
IX-7 Other salaries and wagesPrograms $26,633,277 · Management $2,269,723 · Fundraising $553,658$29,456,658
IX-8 Pension plan contributionsPrograms $823,377 · Management $95,201 · Fundraising $36,255$954,833
IX-9 Other employee benefitsPrograms $5,196,713 · Management $590,448 · Fundraising $194,873$5,982,034
IX-10 Payroll taxesPrograms $1,849,669 · Management $185,784 · Fundraising $69,405$2,104,858
IX-11b Legal feesPrograms $199 · Management $60,956$61,155
IX-11c Accounting feesManagement $77,700$77,700
IX-11f Investment management feesManagement $1,016,988$1,016,988
IX-11g Other fees for servicesPrograms $6,340,434 · Management $1,303,694 · Fundraising $104,504$7,748,632
IX-12 Advertising and promotionPrograms $62,917 · Management $877,367$940,284
IX-13 Office expensesPrograms $2,008,397 · Management $34,273 · Fundraising $88,642$2,131,312
IX-14 Information technologyPrograms $3,276,636 · Management $211,604 · Fundraising $181,326$3,669,566
IX-16 OccupancyPrograms $6,032,567 · Management $708,095 · Fundraising $16,101$6,756,763
IX-17 TravelPrograms $1,029,286 · Management $45,699 · Fundraising $104,428$1,179,413
IX-19 Conferences, conventions and meetingsPrograms $1,074,134 · Management $111,806 · Fundraising $129,288$1,315,228
IX-20 InterestPrograms $2,077,018 · Management $109,317$2,186,335
IX-22 Depreciation, depletion and amortizationPrograms $7,178,449 · Management $381,094$7,559,543
IX-23 InsurancePrograms $103,002 · Management $690,380$793,382
IX-24 Other expenses (24a–d)Programs $125,932 · Management $1,198$127,130
IX-25 Total functional expensesPrograms $114,864,992 · Management $9,551,028 · Fundraising $1,913,406$126,329,426
Part X · Balance sheet $297,917,364 assets, 20 lines filed
Asset lines not itemized here account for $689,586; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $22,747,064$13,685,026
X-3 Pledges and grants receivableStart of year $919,486$802,482
X-4 Accounts receivableStart of year $1,502,172$1,697,455
X-8 Inventories for sale or useStart of year $65,105$57,263
X-9 Prepaid expenses and deferred chargesStart of year $2,000,537$1,973,718
X-10c Land, buildings and equipment, netStart of year $98,784,644$98,555,110
X-11 Publicly traded securitiesStart of year $17,767,874$7,047,304
X-12 Other securitiesStart of year $139,408,936$162,082,608
X-15 Other assetsStart of year $11,328,086$11,326,812
X-16 Total assetsStart of year $295,383,964$297,917,364
X-17 Accounts payable and accrued expensesStart of year $12,379,733$11,176,771
X-18 Grants payableStart of year $1,354,474$990,466
X-19 Deferred revenueStart of year $1,799,251$1,993,819
X-20 Tax-exempt bond liabilitiesStart of year $37,451,608$37,439,491
X-25 Other liabilitiesStart of year $4,474,459$5,503,057
X-26 Total liabilitiesStart of year $57,681,030$57,252,150
X-27 Net assets without donor restrictionsStart of year $96,487,489$89,013,302
X-28 Net assets with donor restrictionsStart of year $141,215,445$151,651,912
X-32 Total net assets or fund balancesStart of year $237,702,934$240,665,214
X-33 Total liabilities and net assetsStart of year $295,383,964$297,917,364
Part XI · Reconciliation of net assets $240,665,214 net assets at year end
XI-1 Total revenue$121,510,087
XI-2 Total expenses$126,329,426
XI-3 Revenue less expenses−$4,819,339
XI-4 Net assets at start of year$237,702,934
XI-5 Net unrealized gains (losses) on investments$7,865,538
XI-9 Other changes in net assets−$83,919
XI-10 Net assets at end of year$240,665,214

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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