Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1950.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
88 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
46 people listed on the 990; $1.7M paid to officers and key staff (Part VII, Section A).
Part VII, Section A · reportable compensation
University President
$292,157Pt VII · Sec A
Chief of Staff
$195,053Pt VII · Sec A
Dean-College of Business
$177,528Pt VII · Sec A
Dean-Jones School of Law
$169,292Pt VII · Sec A
University General Counsel
$155,476Pt VII · Sec A
Director, Msc Program
$152,452Pt VII · Sec A
Director, Dpt Program
$151,505Pt VII · Sec A
Associate Professor; Assoc
$144,558Pt VII · Sec A
Vice President- Academic Affairs
$141,611Pt VII · Sec A
Vice President-Finance
$130,441Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee - Parliamentarian
$0Pt VII · Sec A
Trustee - Secretary
$0Pt VII · Sec A
Trustee Chair
$0Pt VII · Sec A
Trustee Vice Chair
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
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$0Pt VII · Sec A
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$0Pt VII · Sec A
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$0Pt VII · Sec A
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$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
Trustee
$0Pt VII · Sec A
D Mitchell Henry’s $292K as University President is at the 63rd 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
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| D Mitchell Henry | $292,157 | $292,897 | $178,821 | — | — |
| Dr Michael D Williams | — | — | $132,889 | $279,320 | $278,601 |
| Dave Khadanga | — | — | $273,671 | $220,564 | $196,651 |
| Rosie Khadanga | — | $205,230 | $206,214 | $169,275 | $132,582 |
| Richard Boutwell | $195,053 | — | — | — | — |
| Justin Bond | $177,528 | $180,269 | $147,548 | — | — |
| Charles Campbell | $169,292 | $168,232 | $166,117 | $164,555 | $164,456 |
| Leah Fullman | — | — | $166,269 | $134,753 | $151,080 |
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.
See Faulkner University executive salaries →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 15aNo
Programs and updates
Provides education and related services to students and the campus community.
Questions for Faulkner University
Your first name shows with your question. Faulkner University answers here, for everyone.
3 programs · $65.3M · in their own filed words · FY2024
01
Instruction, public service and academic support-educational courses leading to a college degree
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 63-0329409) · Dispute this line$46.9Mprogram expense
02
Student Service
Other non-instructional services provided for students
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 63-0329409) · Dispute this line$13.1Mprogram expense
03
Auxiliary Enterprises
Provided lodging, board, books and related supplies and needs for students and the campus community.
Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 63-0329409) · Dispute this line$5.3Mprogram 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
Folds of Honor FoundationFY2025$10K
Total grants receivedfrom 2 funders$23K
Grants paid · 24 grants · $77.3M · 2020–2024
Unitemized GrantFY2024$13,713,942
Unitemized GrantFY2024$1,040,065
Unitemized GrantFY2024$350,432
Unitemized GrantFY2024$76,181
Unitemized GrantFY2023$13,997,940
Unitemized GrantFY2023$746,062
Unitemized GrantFY2023$431,902
Unitemized GrantFY2023$236,696
Unitemized GrantFY2022$12,944,494
Unitemized GrantFY2022$683,959
Unitemized GrantFY2022$399,385
Unitemized GrantFY2022$83,797
Unitemized GrantFY2022$13,579
Unitemized GrantFY2021$12,828,320
Unitemized GrantFY2021$3,903,635
Unitemized GrantFY2021$461,668
Unitemized GrantFY2021$267,855
Unitemized GrantFY2021$51,750
Federal money
Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending May 2025 · $46.0M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$38.1M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$6.2M
Strengthening Minority-Serving InstitutionsDepartment of Education · ALN 84.382 · Direct$711K
Higher Education Institutional AidDepartment of Education · ALN 84.031 · Direct$292K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$224K
Plus 4 smaller programs.
The auditor reported 5 findings: a weakness in money controls.
Year ending May 2024 · $43.0M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$36.1M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$5.4M
Strengthening Minority-Serving InstitutionsDepartment of Education · ALN 84.382 · Direct$757K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$252K
Higher Education Institutional AidDepartment of Education · ALN 84.031 · Direct$237K
Plus 3 smaller programs.
The auditor reported 5 findings: a weakness in money controls.
Year ending May 2023 · $41.0M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$34.8M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$4.7M
Strengthening Minority-Serving InstitutionsDepartment of Education · ALN 84.382 · Direct$602K
Federal Work-Study ProgramDepartment of Education · ALN 84.033 · Direct$253K
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$245K
Plus 4 smaller programs.
The auditor reported 10 findings: a weakness in money controls.
Year ending May 2022 · $45.7M federal money spent
Federal Direct Student LoansDepartment of Education · ALN 84.268 · Direct$30.3M
Education Stabilization FundDepartment of Education · ALN 84.425 · Direct$7.9M
Federal Pell Grant ProgramDepartment of Education · ALN 84.063 · Direct$4.6M
Coronavirus Relief FundDepartment of the Treasury · ALN 21.019 · Through Alabama Department of Finance$1.9M
Federal Supplemental Educational Opportunity GrantsDepartment of Education · ALN 84.007 · Direct$338K
Plus 5 smaller programs.
The auditor reported 5 findings: a weakness in money controls.
By the numbers
The FY2025 990, line by line.
Download 990
1The main four
Money inPt VIII
$84.3M
Ln 12
Fees for servicesLn 2g$61.5M
Gifts and grantsLn 1h$19.8M
Investment incomeLn 3$1.7M
Money outPt IX
$74.5M
Ln 25
Programscol B$65.3M
Managementcol C$7.9M
Fundraisingcol D$1.3M
Owns and owesPt X
$82.9M
net assets · Ln 32
Cash and savingsLn 1–2$10.6M
Total assetsLn 16$128.3M
LiabilitiesLn 26$45.4M
PeoplePt VI, VII
46
listed · VII A
PaidVII A10
Voting boardVI 1a36
IndependentVI 1b33
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$19.8M
Government grantsLn 1e$3.9M
Noncash giftsLn 1g$456K
Fundraising eventsLn 1c$478K
Fees for servicesLn 2g$61.5M
Investment incomeLn 3$1.7M
Other incomeLn 4–11$1.2M
Gains on assetsLn 7$290K
Total revenueLn 12$84.3M
Assets in detailPt X, end of year
CashLn 1$10.6M
Cash and savings togetherLn 1–2$10.6M
Pledges and grants receivableLn 3$982K
Accounts receivableLn 4$5.7M
Land, buildings, equipmentLn 10c$65.2M
InvestmentsLn 11–13$44.2M
Other assetsLn 15$1.7M
Total assetsLn 16$128.3M
LiabilitiesLn 26$45.4M
Net assetsLn 32$82.9M
OperationsPt I, VI
EmployeesI 5951
VolunteersI 6200
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$28.8M
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$32.0M
Abroad and in kindSch F, M
Noncash gifts receivedSch M Pt I$456K
EndowmentSch D · Pt V
| Line | FY25 | FY24 | FY23 | FY22 | FY21 |
|---|---|---|---|---|---|
| End of yearLn 1g | $24.5M | $23.5M | $20.1M | $20.8M | $21.3M |
| AddedLn 1b | $572K | $1.5M | $121K | $54K | $160K |
| SpentLn 1d–1f | $1.2M | $877K | $809K | $695K | $438K |
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $8.7M | $10.6M |
| InvestmentsLn 11–13 | $36.5M | $44.2M |
| Land, buildings, equipmentLn 10c | $62.4M | $65.2M |
| Total assetsLn 16 | $115.3M | $128.3M |
| LiabilitiesLn 26 | $43.2M | $45.4M |
| Net assetsLn 32 | $72.2M | $82.9M |
5Every line
Statement of functional expensesPt IX · every line
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $15.2M | $15.2M | ||
| Pay of officers and key staff (Part IX, line 5)Ln 5 | $1.2M | $39K | $1.0M | $183K |
| Other salaries and wagesLn 7 | $24.8M | $22.1M | $2.2M | $514K |
| Pension plan contributionsLn 8 | $304K | $264K | $32K | $7K |
| Other employee benefitsLn 9 | $3.5M | $3.1M | $376K | $84K |
| Payroll taxesLn 10 | $1.8M | $1.6M | $193K | $43K |
| Management feesLn 11a | $24K | $24K | ||
| Accounting feesLn 11c | $82K | $82K | ||
| Other fees for servicesLn 11g | $116K | $116K | ||
| Advertising and promotionLn 12 | $1.7M | $1.7M | $14K | |
| Office expensesLn 13 | $1.2M | $792K | $379K | $23K |
| Information technologyLn 14 | $1.6M | $1.3M | $260K | $19K |
| OccupancyLn 16 | $3.4M | $2.8M | $544K | $40K |
| TravelLn 17 | $1.0M | $978K | $43K | $20K |
| Conferences, conventions and meetingsLn 19 | $341K | $211K | $129K | $1K |
| Depreciation, depletion and amortizationLn 22 | $4.3M | $3.5M | $684K | $50K |
| InsuranceLn 23 | $99K | $99K | ||
| Other expenses (24a–d)Ln 24 | $13.1M | $11.2M | $1.7M | $265K |
| All other expensesLn 24e | $588K | $413K | $175K | $120 |
| Total functional expensesLn 25 | $74.5M | $65.3M | $7.9M | $1.3M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest ViewingFiled with the IRS Mar 26, 2026 | $84.3M | $74.5M | $9.8M | $82.9M | 990 PDF |
| FY2024Filed with the IRS Nov 22, 2024 | $83.6M | $71.3M | $12.3M | $72.2M | 990 PDF |
| FY2023Filed with the IRS Jan 22, 2024 | $65.6M | $65.6M | $24K | $57.7M | 990 PDF |
| FY2022Filed with the IRS Oct 14, 2022 | $70.1M | $66.3M | $3.9M | $58.4M | 990 PDF |
| FY2021Filed with the IRS Mar 4, 2022 | $67.1M | $59.9M | $7.2M | $55.5M | 990 PDF |
Schedules filed Part IV
A · Public support
D · Assets and endowments
I · Grants
J · Pay
M · Noncash
O · Explanations
See the full FY2025 990
Part I · Summary $84,294,916 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $22,021,271$19,794,977
I-9 Program service revenuePrior year $59,733,725$61,540,752
I-10 Investment incomePrior year $1,349,674$2,007,592
I-11 Other revenuePrior year $537,027$951,595
I-12 Total revenuePrior year $83,641,697$84,294,916
I-13 Grants and similar amounts paidPrior year $15,412,600$15,180,620
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $29,167,428$31,718,364
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $26,720,160$27,554,104
I-18 Total expensesPrior year $71,300,188$74,453,088
I-19 Revenue less expensesPrior year $12,341,509$9,841,828
Part VI · Governance 33 of 36 board members independent, 1 to look at
VI-1a Voting members of the governing body36
VI-1b Independent voting members33
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $84,294,916 across 12 lines filed
VIII-1c Fundraising events$478,233
VIII-1e Government grants$3,873,262
VIII-1f All other contributions, gifts and grants$15,443,482
VIII-1g Noncash contributions (included above)$456,261
VIII-1h Total contributions, gifts and grants$19,794,977
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $61,540,752$61,540,752
VIII-3 Investment incomeExcluded from tax $1,718,064$1,718,064
VIII-6 Net rental income or lossUnrelated business $104,302$104,302
VIII-7 Net gain or loss on sales of assetsExcluded from tax $289,528$289,528
VIII-8 Net income from fundraising eventsExcluded from tax −$437,124−$437,124
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,281,417 · Unrelated business $3,000$1,284,417
VIII-12 Total revenueRelated to mission $62,822,169 · Unrelated business $107,302 · Excluded from tax $1,570,468$84,294,916
Part IX · Statement of functional expenses $74,453,088 across 19 lines filed
IX-2 Grants to domestic individualsPrograms $15,180,620$15,180,620
IX-5 Pay of officers and key staff (Part IX, line 5)Programs $38,720 · Management $1,015,298 · Fundraising $183,188$1,237,206
IX-7 Other salaries and wagesPrograms $22,119,613 · Management $2,201,425 · Fundraising $513,505$24,834,543
IX-8 Pension plan contributionsPrograms $264,319 · Management $32,361 · Fundraising $7,211$303,891
IX-9 Other employee benefitsPrograms $3,072,085 · Management $376,112 · Fundraising $83,807$3,532,004
IX-10 Payroll taxesPrograms $1,574,938 · Management $192,818 · Fundraising $42,964$1,810,720
IX-11a Management feesManagement $23,596$23,596
IX-11c Accounting feesManagement $81,985$81,985
IX-11g Other fees for servicesPrograms $115,619$115,619
IX-12 Advertising and promotionPrograms $1,671,053 · Fundraising $14,167$1,685,220
IX-13 Office expensesPrograms $792,050 · Management $379,391 · Fundraising $23,252$1,194,693
IX-14 Information technologyPrograms $1,336,683 · Management $259,776 · Fundraising $19,063$1,615,522
IX-16 OccupancyPrograms $2,800,240 · Management $544,209 · Fundraising $39,936$3,384,385
IX-17 TravelPrograms $977,653 · Management $42,589 · Fundraising $20,164$1,040,406
IX-19 Conferences, conventions and meetingsPrograms $210,646 · Management $128,961 · Fundraising $1,352$340,959
IX-22 Depreciation, depletion and amortizationPrograms $3,518,705 · Management $683,838 · Fundraising $50,182$4,252,725
IX-23 InsurancePrograms $98,923$98,923
IX-24 Other expenses (24a–d)Programs $11,153,134 · Management $1,714,412 · Fundraising $264,520$13,132,066
IX-24e All other expensesPrograms $413,303 · Management $174,582 · Fundraising $120$588,005
IX-25 Total functional expensesPrograms $65,338,304 · Management $7,851,353 · Fundraising $1,263,431$74,453,088
Part X · Balance sheet $128,342,493 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $8,737,811$10,642,755
X-3 Pledges and grants receivableStart of year $1,323,766$981,921
X-4 Accounts receivableStart of year $5,126,821$5,719,491
X-10c Land, buildings and equipment, netStart of year $62,376,181$65,151,613
X-11 Publicly traded securitiesStart of year $36,534,425$44,187,921
X-15 Other assetsStart of year $1,242,163$1,658,792
X-16 Total assetsStart of year $115,341,167$128,342,493
X-17 Accounts payable and accrued expensesStart of year $5,925,079$6,317,887
X-19 Deferred revenueStart of year $6,310,188$7,072,757
X-20 Tax-exempt bond liabilitiesStart of year $29,640,135$28,808,314
X-23 Secured mortgages and notes payableStart of year $9,931$4,796
X-25 Other liabilitiesStart of year $1,276,218$3,220,833
X-26 Total liabilitiesStart of year $43,161,551$45,424,587
X-27 Net assets without donor restrictionsStart of year $36,354,828$38,115,686
X-28 Net assets with donor restrictionsStart of year $35,824,788$44,802,220
X-32 Total net assets or fund balancesStart of year $72,179,616$82,917,906
X-33 Total liabilities and net assetsStart of year $115,341,167$128,342,493
Part XI · Reconciliation of net assets $82,917,906 net assets at year end
XI-1 Total revenue$84,294,916
XI-2 Total expenses$74,453,088
XI-3 Revenue less expenses$9,841,828
XI-4 Net assets at start of year$72,179,616
XI-5 Net unrealized gains (losses) on investments$896,418
XI-8 Prior period adjustments$44
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$82,917,906
Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File
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