Institution of private higher education providing undergraduate and graduate curriculums.

501(c)(3) charity; gifts are tax-deductible.
84¢ of each $1 spent went to programs.
Run by 41 volunteers and 878 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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 $266K 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
$1.3M
to officers and key staff · 4% of spending
Looks good: pay to officers and key staff is 4% of spending; 15% or less.
Pt VII · Sec A
3 mo
of spending, in cash
Plus $26.0M in investments, Pt X · Ln 11–13
Looks good: 3.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
8
named funders · $438K
Looks good: 8 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$8.2M
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
37
of 38 voting members
Looks good: 37 of 38 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$27.4M
-7% vs prior year
Spent
$31.7M
To programs
84%
Net assets
$73.7M
By yearFY2020–FY2025
Revenue
$27.4M
FY2025▼ -7%
Tap a bar for its year
Revenue by fiscal year
FY2020$49.8M
FY2021$45.0M
FY2022$40.7M
FY2023$36.1M
FY2024$29.6M
FY2025$27.4M
Expenses
$31.7M
FY2025▼ -3%
Tap a bar for its year
Expenses by fiscal year
FY2020$44.8M
FY2021$41.9M
FY2022$39.0M
FY2023$40.2M
FY2024$32.7M
FY2025$31.7M
Net assets
$73.7M
FY2025▼ -4%
Tap a bar for its year
Net assets by fiscal year
FY2020$77.2M
FY2021$85.2M
FY2022$82.5M
FY2023$77.7M
FY2024$76.8M
FY2025$73.7M

From the FY2025 Form 990 (year ending May 2025) · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1949.

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% · $26.5M Management & general 14% · $4.3M Fundraising 3% · $919K

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

51 people listed on the 990; $1.3M 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
$213,710Pt VII · Sec A
VP for Acad. Affairs, Provost
$134,504Pt VII · Sec A
Vice President for Academic Affairs
$134,156Pt VII · Sec A
Vice President for Enrollment & Advancement
$130,224Pt VII · Sec A
Avp for Human Resources/Recording Secretary
$118,818Pt VII · Sec A
Director of Information Technology
$111,400Pt VII · Sec A
Former President
$109,375Pt VII · Sec A
Vice President for Business Affairs/Corporate Secretary
$108,591Pt VII · Sec A

Rosemary M Thomas’s $214K as President is at the 42nd percentile of top reported officer pay among 3683 $10–100M 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
Kirk E Peterson$109,375$266,136$234,461$231,779$217,356$217,956
Danny B Moore$134,504$212,600$215,000$215,475$212,600$212,600
Rosemary M Thomas$213,710—————
Danny R Davis——$171,953$171,948$171,948$171,948
Patrick Mashuda—$153,458———$100,968
M Christopher White————$153,267$143,133
Andy Wilson—$149,776$147,944$147,628——
John Dilustro$134,156$115,097$110,791$108,689$106,956$107,676

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 graduate degrees through private higher education.

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Your first name shows with your question. Chowan University answers here, for everyone.

Provided by the organization

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1 program · $26.5M · in their own filed words · FY2024
01

Chowan university is a comprehensive, coeducational, residential university with both undergraduate and graduate programs. The university offers a variety of academic programs with a liberal arts basis in career-oriented fields such as business, teacher education, criminal justice, etc.

$26.5Mprogram 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 · FY2024
See all 8 funders →
Grants paid · 12 grants · $78.3M · 2019–2024
Unitemized GrantFY2024$9,866,459
Unitemized GrantFY2024$265,519
Unitemized GrantFY2023$10,060,624
Unitemized GrantFY2023$268,671
Unitemized GrantFY2022$11,928,939
Unitemized GrantFY2022$309,098
Unitemized GrantFY2021$13,103,455
Unitemized GrantFY2021$350,249
Unitemized GrantFY2020$14,556,314
Unitemized GrantFY2020$327,551
Unitemized GrantFY2019$17,100,137
Unitemized GrantFY2019$204,729

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$27.4M
Ln 12
Fees for servicesLn 2g$21.8M
Gifts and grantsLn 1h$4.1M
Investment incomeLn 3$1.3M
Money outPt IX
$31.7M
Ln 25
Programscol B$26.5M
Managementcol C$4.3M
Fundraisingcol D$919K
Owns and owesPt X
$73.7M
net assets · Ln 32
Cash and savingsLn 1–2$8.2M
Total assetsLn 16$81.9M
LiabilitiesLn 26$8.2M
PeoplePt VI, VII
51
listed · VII A
PaidVII A12
Voting boardVI 1a38
IndependentVI 1b37
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.1M
Government grantsLn 1e$172K
Fees for servicesLn 2g$21.8M
Investment incomeLn 3$1.3M
Other incomeLn 4–11$245K
Gains on assetsLn 7$650K
Total revenueLn 12$27.4M
Assets in detailPt X, end of year
CashLn 1$1.0M
SavingsLn 2$7.1M
Cash and savings togetherLn 1–2$8.2M
InvestmentsLn 11–13$26.0M
Land, buildings, equipmentLn 10c$44.6M
Other assetsLn 15$0
Total assetsLn 16$81.9M
LiabilitiesLn 26$8.2M
Net assetsLn 32$73.7M
OperationsPt I, VI
EmployeesI 5878
VolunteersI 641
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$6.1M$8.2M
InvestmentsLn 11–13$31.2M$26.0M
Land, buildings, equipmentLn 10c$45.0M$44.6M
Total assetsLn 16$85.7M$81.9M
LiabilitiesLn 26$8.9M$8.2M
Net assetsLn 32$76.8M$73.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$10.1M$10.1M
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$856K$0$856K$0
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$7.5M$6.1M$898K$483K
Pension plan contributionsLn 8−$61K$0−$61K$0
Other employee benefitsLn 9$1.3M$958K$308K$59K
Payroll taxesLn 10$598K$460K$110K$28K
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$85K$0$85K$0
Accounting feesLn 11c$105K$0$105K$0
Lobbying feesLn 11d$0$0$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$80K$0$80K$0
Other fees for servicesLn 11g$4.0M$3.2M$630K$226K
Advertising and promotionLn 12$72K$0$100$72K
Office expensesLn 13$176K$77K$82K$17K
Information technologyLn 14$65K$0$65K$0
RoyaltiesLn 15$0$0$0$0
OccupancyLn 16$1.0M$934K$93K$0
TravelLn 17$884K$874K$6K$4K
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$12K$11K$1K$0
InterestLn 20$252K$241K$11K$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$2.6M$2.5M$112K$0
InsuranceLn 23$780K$104K$675K$0
Other expenses (24a–d)Ln 24$1.3M$1.0M$245K$19K
All other expensesLn 24e−$13K−$12K−$13K$12K
Total functional expensesLn 25$31.7M$26.5M$4.3M$919K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $27.4M$31.7M−$4.2M$73.7M 990 PDF
FY2024 $29.6M$32.7M−$3.2M$76.8M 990 PDF
FY2023 $36.1M$40.2M−$4.1M$77.7M 990 PDF
FY2022 $40.7M$39.0M$1.7M$82.5M 990 PDF
FY2021 $45.0M$41.9M$3.2M$85.2M 990 PDF
FY2020 $49.8M$44.8M$5.1M$77.2M 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 J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $27,445,151 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $5,468,611$4,137,774
I-9 Program service revenuePrior year $22,232,235$21,762,409
I-10 Investment incomePrior year $1,319,984$1,299,613
I-11 Other revenuePrior year $534,939$245,355
I-12 Total revenuePrior year $29,555,769$27,445,151
I-13 Grants and similar amounts paidPrior year $10,329,295$10,131,978
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $10,847,769$10,173,808
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $11,568,596$11,388,320
I-18 Total expensesPrior year $32,745,660$31,694,106
I-19 Revenue less expensesPrior year −$3,189,891−$4,248,955
Part VI · Governance 37 of 38 board members independent, 2 to look at
VI-1a Voting members of the governing body38
VI-1b Independent voting members37
VI-2 Family or business relationship among officers or directorsYes
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $27,445,151 across 8 lines filed
VIII-1e Government grants$171,820
VIII-1f All other contributions, gifts and grants$3,965,954
VIII-1h Total contributions, gifts and grants$4,137,774
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $21,762,409$21,762,409
VIII-3 Investment incomeExcluded from tax $649,806$649,806
VIII-7 Net gain or loss on sales of assetsExcluded from tax $649,807$649,807
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $245,355$245,355
VIII-12 Total revenueRelated to mission $21,762,409 · Unrelated business $0 · Excluded from tax $1,544,968$27,445,151
Part IX · Statement of functional expenses $31,694,106 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $10,131,978$10,131,978
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0 · Management $855,976 · Fundraising $0$855,976
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $6,074,256 · Management $898,020 · Fundraising $483,152$7,455,428
IX-8 Pension plan contributionsPrograms $0 · Management −$60,875 · Fundraising $0−$60,875
IX-9 Other employee benefitsPrograms $958,079 · Management $308,058 · Fundraising $58,726$1,324,863
IX-10 Payroll taxesPrograms $460,175 · Management $110,035 · Fundraising $28,206$598,416
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $0 · Management $85,205 · Fundraising $0$85,205
IX-11c Accounting feesPrograms $0 · Management $105,496 · Fundraising $0$105,496
IX-11d Lobbying feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $80,490 · Fundraising $0$80,490
IX-11g Other fees for servicesPrograms $3,151,209 · Management $629,625 · Fundraising $225,625$4,006,459
IX-12 Advertising and promotionPrograms $0 · Management $100 · Fundraising $71,999$72,099
IX-13 Office expensesPrograms $77,155 · Management $82,349 · Fundraising $16,721$176,225
IX-14 Information technologyPrograms $0 · Management $64,999 · Fundraising $0$64,999
IX-15 RoyaltiesPrograms $0 · Management $0 · Fundraising $0$0
IX-16 OccupancyPrograms $934,112 · Management $92,546 · Fundraising $0$1,026,658
IX-17 TravelPrograms $874,274 · Management $5,502 · Fundraising $3,880$883,656
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $10,569 · Management $1,260 · Fundraising $0$11,829
IX-20 InterestPrograms $240,818 · Management $11,031 · Fundraising $0$251,849
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $2,451,134 · Management $112,277 · Fundraising $0$2,563,411
IX-23 InsurancePrograms $104,138 · Management $675,387 · Fundraising $0$779,525
IX-24 Other expenses (24a–d)Programs $1,029,867 · Management $244,559 · Fundraising $18,595$1,293,021
IX-24e All other expensesPrograms −$11,507 · Management −$12,972 · Fundraising $11,877−$12,602
IX-25 Total functional expensesPrograms $26,486,257 · Management $4,289,068 · Fundraising $918,781$31,694,106
Part X · Balance sheet $81,939,211 assets, 23 lines filed
X-1 Cash, non-interest-bearingStart of year $412,945$1,026,971
X-2 Savings and temporary cash investmentsStart of year $5,656,455$7,126,660
X-3 Pledges and grants receivableStart of year $2,006,125$1,602,655
X-4 Accounts receivableStart of year $488,819$681,225
X-8 Inventories for sale or useStart of year $169,158$178,990
X-9 Prepaid expenses and deferred chargesStart of year $589,784$719,725
X-10c Land, buildings and equipment, netStart of year $44,973,775$44,589,821
X-11 Publicly traded securitiesStart of year $29,429,419$24,467,481
X-12 Other securitiesStart of year $1,775,128$1,545,683
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $178,154$0
X-16 Total assetsStart of year $85,679,762$81,939,211
X-17 Accounts payable and accrued expensesStart of year $1,704,998$1,455,617
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $230,580$242,965
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $0$101,077
X-26 Total liabilitiesStart of year $8,858,643$8,195,179
X-27 Net assets without donor restrictionsStart of year $43,677,583$43,849,197
X-28 Net assets with donor restrictionsStart of year $33,143,536$29,894,835
X-32 Total net assets or fund balancesStart of year $76,821,119$73,744,032
X-33 Total liabilities and net assetsStart of year $85,679,762$81,939,211
Part XI · Reconciliation of net assets $73,744,032 net assets at year end
XI-1 Total revenue$27,445,151
XI-2 Total expenses$31,694,106
XI-3 Revenue less expenses−$4,248,955
XI-4 Net assets at start of year$76,821,119
XI-5 Net unrealized gains (losses) on investments$1,401,313
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets−$229,445
XI-10 Net assets at end of year$73,744,032

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

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