Baldwin Wallace University: Nonprofit Profile, Financials & Form 990 (EIN 34-0714629)

Revenue by fiscal year
FY2020	$151.9M
FY2021	$147.8M
FY2022	$146.0M
FY2023	$147.0M
FY2024	$162.9M
FY2025	$164.7M

Expenses by fiscal year
FY2020	$149.3M
FY2021	$146.0M
FY2022	$156.9M
FY2023	$163.2M
FY2024	$170.9M
FY2025	$168.1M

Net assets by fiscal year
FY2020	$314.4M
FY2021	$356.8M
FY2022	$317.2M
FY2023	$307.1M
FY2024	$299.0M
FY2025	$306.5M

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1954.

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

Where the money goes

86 cents of each dollar spent went to programs.

86%

12%

Program services 86% · $144.0M Management & general 12% · $20.8M Fundraising 2% · $3.3M

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

57 people listed on the 990; $2.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII

Robert C Helmer

President (left 6/24)

$446,109Pt VII · Sec A

Ellen Zegarra

VP for Philanthropy (left 1/25)

$227,268Pt VII · Sec A

Gregory Flanik

Interim President (1/25-6/25) / VP Operations

$215,915Pt VII · Sec A

Gregory Cingle

Chief Financial Officer / Treasurer

$213,409Pt VII · Sec A

Thomas Sutton

Interim President (6/24-12/24)

$199,593Pt VII · Sec A

Scott Schulz

VP for Enrollment Mngmt

$191,401Pt VII · Sec A

Timeka Rashid

VP for Student Affairs (left 12/24)

$174,907Pt VII · Sec A

Stephen D Stahl

Provost (left 9/24)

$166,140Pt VII · Sec A

Robert C Helmer’s $446K as President (left 6/24) is at the 31st 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

Name	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Robert C Helmer	$446,109	$449,214	$447,636	$391,036	$354,856	$389,733
Richard L Fletcher	—	—	—	—	$303,053	$191,329
Ellen Zegarra	$227,268	$207,873	—	—	—	—
Patrick J Dunlavy	—	—	$199,450	$224,450	$211,283	$219,282
Gregory Flanik	$215,915	$170,577	—	—	—	—
Gregory Cingle	$213,409	—	—	—	—	—
Scott Schulz	$191,401	$191,371	$204,271	$191,391	$179,387	$182,054
Stephen D Stahl	$166,140	$203,368	$196,942	$197,143	$184,464	$192,743

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

Offers undergraduate and master's degree programs alongside comprehensive campus services, including housing, dining, athletics, and healthcare, to support student success.

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Provided by the organization

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3 programs · $144.0M · in their own filed words · FY2024

01

Merit scholarships and need-based financial aid grants to students actively enrolled in the university.

$62.7Mprogram expense

02

Education of 2,770 full-time undergraduate students, 1103 part-time undergraduates, and 445 graduate students, plus certificate programs and faculty scholarly research. Undergraduate degrees offered are the bachelor of arts, bachelor of fine arts, bachelor of science, bachelor of science in education, bachelor of music, bachelor of music…

$61.5Mprogram expense

03

Auxiliary services and activities for students, including residence halls housing 1,377 full-time students, dining halls, bookstore, athletics, student union, recreation center, and health center.

$19.9Mprogram 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

Katherine B GeisFY2025$15K

The Pearce FoundationFY2025$10K

Folds of Honor FoundationFY2025$8K

Ruth M Hughes Scholarship TrustFY2025$2K

Verna M Griffee TrustFY2025$1K

Cooper Standard Foundation INCFY2025$1K

Total grants receivedfrom 6 funders$38K

See all 6 funders →

Grants paid · 6 grants · $331.5M · 2019–2024

Unitemized GrantFY2024$62,670,032

Unitemized GrantFY2023$57,345,880

Unitemized GrantFY2022$54,960,926

Unitemized GrantFY2021$56,378,939

Unitemized GrantFY2020$52,140,562

Unitemized GrantFY2019$48,052,713

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$164.7M

Ln 12

Fees for servicesLn 2g$129.7M

Investment incomeLn 3$14.1M

Gifts and grantsLn 1h$14.0M

Money outPt IX

$168.1M

Ln 25

Programscol B$144.0M

Managementcol C$20.8M

Fundraisingcol D$3.3M

Owns and owesPt X

$306.5M

net assets · Ln 32

Cash and savingsLn 1–2$21.2M

Total assetsLn 16$347.2M

LiabilitiesLn 26$40.7M

PeoplePt VI, VII

57

listed · VII A

PaidVII A16

Voting boardVI 1a41

IndependentVI 1b40

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$14.0M

Government grantsLn 1e$2.4M

Noncash giftsLn 1g$2.0M

Fees for servicesLn 2g$129.7M

Investment incomeLn 3$14.1M

Other incomeLn 4–11$7.0M

Gains on assetsLn 7$9.8M

Total revenueLn 12$164.7M

Assets in detailPt X, end of year

CashLn 1$10.4M

SavingsLn 2$10.8M

Cash and savings togetherLn 1–2$21.2M

InvestmentsLn 11–13$136.9M

Land, buildings, equipmentLn 10c$149.7M

Other assetsLn 15$29.7M

Total assetsLn 16$347.2M

LiabilitiesLn 26$40.7M

Net assetsLn 32$306.5M

OperationsPt I, VI

EmployeesI 52,416

VolunteersI 6100

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$26.0M	$21.2M
InvestmentsLn 11–13	$134.1M	$136.9M
Land, buildings, equipmentLn 10c	$158.2M	$149.7M
Total assetsLn 16	$354.1M	$347.2M
LiabilitiesLn 26	$55.1M	$40.7M
Net assetsLn 32	$299.0M	$306.5M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$62.7M	$62.7M
Pay of current officers, directors and key staffLn 5	$2.0M	$394K	$1.3M	$289K
Other salaries and wagesLn 7	$44.1M	$39.6M	$3.0M	$1.4M
Pension plan contributionsLn 8	$1.7M	$1.4M	$239K	$75K
Other employee benefitsLn 9	$10.8M	$8.8M	$1.5M	$479K
Payroll taxesLn 10	$3.4M	$2.8M	$482K	$151K
Legal feesLn 11b	$478K		$478K
Accounting feesLn 11c	$393K		$393K
Investment management feesLn 11f	$141K		$141K
Other fees for servicesLn 11g	$5.2M	$2.7M	$2.3M	$210K
Advertising and promotionLn 12	$879K	$16K	$862K
Office expensesLn 13	$3.7M	$2.8M	$760K	$117K
Information technologyLn 14	$2.4M	$1.4M	$863K	$145K
RoyaltiesLn 15	$23K	$23K
OccupancyLn 16	$6.2M	$5.9M	$270K	$44K
TravelLn 17	$2.2M	$2.2M	$22K	$36K
Conferences, conventions and meetingsLn 19	$81K	$81K
InterestLn 20	$4.2M		$4.2M
Depreciation, depletion and amortizationLn 22	$10.9M	$10.4M	$384K	$75K
InsuranceLn 23	$1.5M	$777K	$722K
Other expenses (24a–d)Ln 24	$5.1M	$2.0M	$2.8M	$226K
All other expensesLn 24e	$6K	$0	$6K	$0
Total functional expensesLn 25	$168.1M	$144.0M	$20.8M	$3.3M

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest Viewing	$164.7M	$168.1M	−$3.4M	$306.5M	990 PDF
FY2024	$162.9M	$170.9M	−$8.0M	$299.0M	990 PDF
FY2023	$147.0M	$163.2M	−$16.3M	$307.1M	990 PDF
FY2022	$146.0M	$156.9M	−$10.9M	$317.2M	990 PDF
FY2021	$147.8M	$146.0M	$1.9M	$356.8M	990 PDF
FY2020	$151.9M	$149.3M	$2.6M	$314.4M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations

See the full FY2025 990 (6 parts)

Part I · Summary $164,650,505 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $13,229,031$13,962,985

I-9 Program service revenuePrior year $121,581,111$129,652,362

I-10 Investment incomePrior year $22,964,999$14,083,257

I-11 Other revenuePrior year $5,097,693$6,951,901

I-12 Total revenuePrior year $162,872,834$164,650,505

I-13 Grants and similar amounts paidPrior year $57,345,880$62,670,032

I-14 Benefits paid to members$0

I-15 Salaries and benefitsPrior year $73,391,426$61,932,456

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $40,138,070$43,484,093

I-18 Total expensesPrior year $170,875,376$168,086,581

I-19 Revenue less expensesPrior year −$8,002,542−$3,436,076

Part VI · Governance 40 of 41 board members independent, 1 to look at

VI-1a Voting members of the governing body41

VI-1b Independent voting members40

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 $164,650,505 across 10 lines filed

Lines not itemized here account for $6,533,884 of total revenue; see the IRS return.

VIII-1e Government grants$2,438,653

VIII-1f All other contributions, gifts and grants$11,524,332

VIII-1g Noncash contributions (included above)$2,045,324

VIII-1h Total contributions, gifts and grants$13,962,985

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $129,652,362$129,652,362

VIII-3 Investment incomeUnrelated business $11,297 · Excluded from tax $4,241,737$4,253,034

VIII-6 Net rental income or lossExcluded from tax $69,122$69,122

VIII-7 Net gain or loss on sales of assetsExcluded from tax $9,830,223$9,830,223

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $348,895$348,895

VIII-12 Total revenueRelated to mission $136,070,135 · Unrelated business $99,664 · Excluded from tax $14,517,721$164,650,505

Part IX · Statement of functional expenses $168,086,581 across 22 lines filed

IX-2 Grants to domestic individualsPrograms $62,670,032$62,670,032

IX-5 Pay of current officers, directors and key staffPrograms $394,006 · Management $1,274,501 · Fundraising $288,783$1,957,290

IX-7 Other salaries and wagesPrograms $39,617,505 · Management $3,049,162 · Fundraising $1,405,093$44,071,760

IX-8 Pension plan contributionsPrograms $1,376,104 · Management $238,619 · Fundraising $74,974$1,689,697

IX-9 Other employee benefitsPrograms $8,797,993 · Management $1,525,587 · Fundraising $479,337$10,802,917

IX-10 Payroll taxesPrograms $2,777,780 · Management $481,672 · Fundraising $151,340$3,410,792

IX-11b Legal feesManagement $478,258$478,258

IX-11c Accounting feesManagement $393,053$393,053

IX-11f Investment management feesManagement $141,379$141,379

IX-11g Other fees for servicesPrograms $2,682,817 · Management $2,316,824 · Fundraising $210,190$5,209,831

IX-12 Advertising and promotionPrograms $16,412 · Management $862,498$878,910

IX-13 Office expensesPrograms $2,846,629 · Management $759,799 · Fundraising $116,966$3,723,394

IX-14 Information technologyPrograms $1,395,959 · Management $862,886 · Fundraising $144,753$2,403,598

IX-15 RoyaltiesPrograms $22,546$22,546

IX-16 OccupancyPrograms $5,910,633 · Management $270,081 · Fundraising $44,209$6,224,923

IX-17 TravelPrograms $2,169,585 · Management $21,776 · Fundraising $35,635$2,226,996

IX-19 Conferences, conventions and meetingsPrograms $81,492$81,492

IX-20 InterestManagement $4,240,409$4,240,409

IX-22 Depreciation, depletion and amortizationPrograms $10,430,830 · Management $384,035 · Fundraising $75,167$10,890,032

IX-23 InsurancePrograms $777,371 · Management $721,551$1,498,922

IX-24 Other expenses (24a–d)Programs $2,024,441 · Management $2,814,299 · Fundraising $225,611$5,064,351

IX-24e All other expensesPrograms $0 · Management $5,999 · Fundraising $0$5,999

IX-25 Total functional expensesPrograms $143,992,135 · Management $20,842,388 · Fundraising $3,252,058$168,086,581

Part X · Balance sheet $347,243,370 assets, 22 lines filed

X-1 Cash, non-interest-bearingStart of year $4,299,019$10,403,863

X-2 Savings and temporary cash investmentsStart of year $21,707,304$10,827,704

X-3 Pledges and grants receivableStart of year $2,088,216$4,984,960

X-4 Accounts receivableStart of year $4,730,415$2,285,661

X-8 Inventories for sale or useStart of year $1,745,210$1,116,778

X-9 Prepaid expenses and deferred chargesStart of year $1,480,712$1,294,589

X-10c Land, buildings and equipment, netStart of year $158,158,208$149,720,899

X-11 Publicly traded securitiesStart of year $100,151,794$108,461,136

X-12 Other securitiesStart of year $25,672,268$20,691,589

X-13 Program-related investmentsStart of year $8,261,774$7,747,224

X-15 Other assetsStart of year $25,817,759$29,708,967

X-16 Total assetsStart of year $354,112,679$347,243,370

X-17 Accounts payable and accrued expensesStart of year $5,980,299$7,047,320

X-19 Deferred revenueStart of year $1,688,601$1,990,861

X-20 Tax-exempt bond liabilitiesStart of year $15,320,000$14,040,000

X-24 Unsecured notes and loans payableStart of year $25,542,867$9,988,787

X-25 Other liabilitiesStart of year $6,551,075$7,639,031

X-26 Total liabilitiesStart of year $55,082,842$40,705,999

X-27 Net assets without donor restrictionsStart of year $72,895,881$85,141,494

X-28 Net assets with donor restrictionsStart of year $226,133,956$221,395,877

X-32 Total net assets or fund balancesStart of year $299,029,837$306,537,371

X-33 Total liabilities and net assetsStart of year $354,112,679$347,243,370

Part XI · Reconciliation of net assets $306,537,371 net assets at year end

XI-1 Total revenue$164,650,505

XI-2 Total expenses$168,086,581

XI-3 Revenue less expenses−$3,436,076

XI-4 Net assets at start of year$299,029,837

XI-5 Net unrealized gains (losses) on investments$10,943,610

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$306,537,371

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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