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Nonprofiteer
← SHENANDOAH UNIVERSITY

Form 990 for tax year 2024

Filed by SHENANDOAH UNIVERSITY.

Totals

Total revenue
$172,357,275
Total expenses
$149,319,133
Contributions and grants received
$24,539,795
Grants paid
$33,488,862
Program service revenue
$140,669,309
Investment income
$7,148,171
Other revenue
$0
Total assets, end of year
$349,560,824
Total liabilities, end of year
$107,014,451
Net assets or fund balances, end of year
$242,546,373
Program services expenses (Part IX)
$131,332,154
Management and general expenses
$16,178,030
Fundraising expenses
$1,808,949
Program service expenses (Part III)
$131,332,154

Program services were 88.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,780,445

  • 1f · All other contributions, gifts and grants

    $21,759,350

  • 1g · Noncash contributions included above

    $1,146,554

  • 2a · Program service revenue: TUITION AND FEES

    total $121,502,803 · related or exempt $121,502,803

  • 2b · Program service revenue: AUXILIARY SERVICES

    total $15,110,521 · related or exempt $15,045,047 · unrelated business $65,474

  • 2c · Program service revenue: UNIVERSITY CAMPUSES

    total $2,670,686 · related or exempt $2,670,686

  • 2d · Program service revenue: TICKET SALES

    total $1,241,005 · related or exempt $1,241,005

  • 2e · Program service revenue: STUDENT SERVICE COMMISSIONS

    total $144,294 · related or exempt $144,294

  • 3 · Investment income

    total $3,374,885 · excluded $3,374,885

  • 7a · Gross sales of assets other than inventory

    securities $20,567,221 · other assets $161,916

  • 7b · Less cost or other basis and sales expenses

    securities $16,351,635 · other assets $604,216

  • 7c · Gain or loss

    securities $4,215,586 · other assets -$442,300

  • 7d · Net gain or loss

    total $3,773,286 · excluded $3,773,286

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $33,488,862 · program services $33,488,862

  • 5 · Compensation of officers, directors and key employees

    total $2,452,015 · program services $1,212,596 · management and general $812,417 · fundraising $427,002

  • 7 · Other salaries and wages

    total $55,952,967 · program services $48,801,028 · management and general $6,197,379 · fundraising $954,560

  • 8 · Pension plan contributions

    total $3,235,643 · program services $2,531,681 · management and general $643,204 · fundraising $60,758

  • 9 · Other employee benefits

    total $6,099,185 · program services $4,970,949 · management and general $1,013,235 · fundraising $115,001

  • 10 · Payroll taxes

    total $3,821,654 · program services $3,262,292 · management and general $467,063 · fundraising $92,299

  • 11b · Fees: legal

    total $152,698 · program services $2,000 · management and general $150,698

  • 11c · Fees: accounting

    total $82,467 · management and general $82,467

  • 11d · Fees: lobbying

    total $6,125 · management and general $6,125

  • 11f · Fees: investment management

    total $26,616 · management and general $26,616

  • 12 · Advertising and promotion

    total $213,915 · program services $129,218 · management and general $84,697

  • 13 · Office expenses

    total $2,518,600 · program services $2,204,453 · management and general $292,717 · fundraising $21,430

  • 16 · Occupancy

    total $8,663,636 · program services $7,929,542 · management and general $732,540 · fundraising $1,554

  • 17 · Travel

    total $3,547,714 · program services $3,463,938 · management and general $77,802 · fundraising $5,974

  • 20 · Interest

    total $2,782,905 · program services $2,697,345 · management and general $85,560

  • 22 · Depreciation, depletion and amortization

    total $9,522,624 · program services $8,620,243 · management and general $902,381

  • 23 · Insurance

    total $1,470,800 · program services $549,306 · management and general $921,494

  • 24a · Other expenses: MEALS/ROOM CHARGE

    total $4,612,708 · program services $4,449,330 · management and general $153,166 · fundraising $10,212

  • 24b · Other expenses: CONTRACT SERVICES

    total $3,928,504 · program services $3,410,789 · management and general $514,265 · fundraising $3,450

  • 24c · Other expenses: SOFTWARE AND TECHNOLOGY

    total $2,041,754 · program services $888,801 · management and general $1,152,953

  • 24d · Other expenses: DUPLICATING, PRINTING,

    total $1,456,716 · program services $1,327,261 · management and general $112,115 · fundraising $17,340

  • 24e · All other expenses

    total $3,241,025 · program services $1,392,520 · management and general $1,749,136 · fundraising $99,369

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,150 · end of year $3,400

  • 2 · Savings and temporary cash investments

    beginning of year $30,223,878 · end of year $35,137,495

  • 3 · Pledges and grants receivable

    beginning of year $5,854,057 · end of year $17,937,176

  • 4 · Accounts receivable

    beginning of year $2,491,609 · end of year $2,514,376

  • 7 · Other notes and loans receivable

    beginning of year $2,313,467 · end of year $2,243,784

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,278,635 · end of year $2,647,739

  • 10a · Land, buildings and equipment: cost or other basis

    $302,728,693

  • 10b · Land, buildings and equipment: accumulated depreciation

    $126,938,905

  • 10c · Land, buildings and equipment, net

    beginning of year $179,797,645 · end of year $175,789,788

  • 11 · Investments: publicly traded securities

    beginning of year $73,155,555 · end of year $78,882,110

  • 12 · Investments: other securities

    beginning of year $10,709,178 · end of year $11,939,754

  • 13 · Investments: program-related

    beginning of year $3,048,675 · end of year $3,266,961

  • 15 · Other assets

    beginning of year $24,863,190 · end of year $19,198,241

  • 17 · Accounts payable and accrued expenses

    beginning of year $8,059,732 · end of year $6,405,142

  • 18 · Grants payable

    beginning of year $1,602,826 · end of year $1,544,316

  • 19 · Deferred revenue

    beginning of year $4,768,917 · end of year $5,024,785

  • 20 · Tax-exempt bond liabilities

    beginning of year $80,645,319 · end of year $77,409,877

  • 23 · Secured mortgages and notes payable

    beginning of year $3,664,180 · end of year $3,438,301

  • 25 · Other liabilities

    beginning of year $15,457,162 · end of year $13,192,030

  • 27 · Net assets without donor restrictions

    beginning of year $137,274,215 · end of year $141,842,098

  • 28 · Net assets with donor restrictions

    beginning of year $83,268,688 · end of year $100,704,275

Mission and programs · 2024

Mission

SHENANDOAH UNIVERSITY EDUCATES AND INSPIRES INDIVIDUALS TO BE CRITICAL, REFLECTIVE THINKERS; LIFELONG LEARNERS, AND ETHICAL, COMPASSIONATE CITIZENS WHO ARE COMMITTED TO MAKING RESPONSIBLE CONTRIBUTIONS WITHIN A COMMUNITY, A NATION AND THE WORLD.

Activities or mission (Part I)

SHENANDOAH UNIVERSITY EDUCATES AND INSPIRES INDIVIDUALS TO BE CRITICAL, REFLECTIVE THINKERS; LIFELONG LEARNERS, AND ETHICAL, COMPASSIONATE CITIZENS WHO ARE COMMITTED TO MAKING RESPONSIBLE CONTRIBUTIONS WITHIN A COMMUNITY, A NATION AND THE WORLD. A SHENANDOAH UNIVERSITY EDUCATION INCORPORATES SCHOLARSHIP, EXPERIENTIAL LEARNING AND SOPHISTICATED TECHNOLOGIES AS WELL AS PRACTICAL WISDOM. THE UNIVERSITY PROVIDES STUDENTS WITH THE ACADEMIC CONTENT AND ANALYTICAL SKILLS THEY WILL NEED TO LAUNCH SUCCESSFUL CAREERS, AND HARNESS TECHNOLOGIES THAT WILL ENABLE THEM TO CREATE NEW IDEAS, PRODUCTS AND SERVICES THAT IMPACT A GLOBAL SOCIETY.

  • DURING THE FISCAL YEAR 2024-2025, SHENANDOAH UNIVERSITY SAW ENROLLMENT REMAIN STEADY, WITH 4,454 STUDENTS ENROLLED IN FALL 2024. SHENANDOAH CONTINUED TO EXPAND ITS LIST OF OVER 200 ACADEMIC OFFERINGS AT THE UNDERGRADUATE AND GRADUATE LEVELS, ADDING MASTER OF SCIENCE IN APPLIED CYBER SECURITY, MASTER OF SCIENCE IN CLINICAL MENTAL HEALTH COUNSELING, MASTER OF SCIENCE IN SPEECH-LANGUAGE PATHOLOGY, DOCTOR OF PHILOSOPHY IN ORGANIZATIONAL LEADERSHIP AND DOCTOR OF PHILOSOPHY IN EDUCATIONAL LEADERSHIP.

    Expenses $94,202,962 · Grants $33,488,862 · Revenue $121,502,803

  • STUDENT SERVICES INCLUDES ADMISSIONS, REGISTRAR, STUDENT AFFAIRS, STUDENT ORGANIZATIONS, AND ATHLETIC PROGRAMS. DURING FISCAL YEAR 2024-2025, SHENANDOAH UNIVERSITY HAD OVER 70 RECOGNIZED STUDENT CLUBS AND ORGANIZATIONS. SHENANDOAH UNIVERSITY SPONSORED 22 INTERCOLLEGIATE TEAMS (11 FOR WOMEN AND 11 FOR MEN) WITH A TOTAL STUDENT-ATHLETE INVOLVEMENT OF MORE THAN 500. INTERCOLLEGIATE ATHLETICS ARE AN INTEGRAL ASPECT OF STUDENT LIFE ON THE SHENANDOAH UNIVERSITY CAMPUS, WITH THE MAJORITY OF STUDENTS INVOLVED EITHER AS PARTICIPANTS OR SPECTATORS. SEVERAL SU SPORTS TEAMS EARNED NATIONAL RANKINGS AND CONTENDED FOR OLD DOMINION ATHLETIC CONFERENCE TITLES IN THEIR RESPECTIVE SPORTS, AND STUDENT-ATHLETES EXCELLED AT THE CONFERENCE, REGIONAL AND NATIONAL LEVELS.SHENANDOAH'S HEALTH PROFESSIONS BUILDING, LOCATED OFF MAIN CAMPUS AT THE WINCHESTER MEDICAL CENTER CAMPUS, SERVES AS THE HOME OF THE SCHOOL OF PHARMACY, AND SU'S NATIONALLY RANKED PHYSICIAN ASSISTANT STUDIES PROGRAM AS WELL AS THE OCCUPATIONAL THERAPY AND PHYSICAL THERAPY PROGRAMS IN THE SCHOOL OF HEALTH PROFESSIONS. SU'S LOUDOUN LOCATION SERVES STUDENTS IN THE MBA, EDUCATION AND LEADERSHIP, NURSING, OCCUPATIONAL THERAPY, PHYSICAL THERAPY, PHYSICIAN ASSISTANT STUDIES, AND SPEECH AND LANGUAGE PATHOLOGY PROGRAMS.

    Expenses $16,495,660 · Revenue $1,385,299

  • AUXILIARY SERVICES INCLUDES THE UNIVERSITY'S RESIDENCE HALLS, BOOKSTORE, AND CHILD CARE FACILITIES. DURING FISCAL YEAR 2024-2025, SHENANDOAH SET A NEW ALL-TIME HIGH WITH OVER 1,230 STUDENTS RESIDING IN ITS 11 RESIDENCE HALLS.

    Expenses $10,244,978 · Revenue $15,045,047

  • SHENANDOAH UNIVERSITY'S OTHER PROGRAM SERVICES NOT DETAILED IN PART III INCLUDE THE MAINTENANCE OF SHENANDOAH UNIVERSITY'S CAMPUSES.

    Expenses $10,388,554 · Revenue $2,670,686

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • James U Imoh

    CHAIR

    Total calculated
    $0
    Hours/week
    0
  • W Michael Perry

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    0
  • Lauren Peterson

    SECRETARY

    Total calculated
    $0
    Hours/week
    0
  • Robert J Frogale

    TREASURER

    Total calculated
    $0
    Hours/week
    0
  • Walter H Aikens

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • David B Baxa

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Dr J Gregory Bennett

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Susan Carroll

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Paul Battista

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Dr Kyle Feldman

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Steven Frederickson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Scott Harvard

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • The Rev Dr Victor Gomez

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Chelsea Hester

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Jessie Hooker-Bailey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Bruce E Hunter

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Diane S Kearns

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Spencer McAndrews

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Marjorie S Lewis

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Keith A May

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Scott F Miller

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • J Randall Minchew

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Dr M Yaqub Mirza

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Mark J Ohrstrom

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Cecil Pruitt Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Mary Farland Shockey

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • John D Stokely Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • James A Stutzman Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Charles A Veatch

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Heather H Wilson

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Gerald F Smith Jr

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • James R Wilkins III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    0
  • Tracy Fitzsimmons

    PRESIDENT AND REGISTERED AGENT

    Total calculated
    $436,293
    From this org
    $363,848
    From related orgs
    $0
    Other
    $72,445
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $324,932
    Bonus
    $0
    Other
    $38,916
    Deferred
    $44,348
    Nontaxable benefits
    $28,097
    Filer's total
    $436,293
  • Mitchell L Moore

    SENIOR VP AND VP FOR ADVANCEMENT

    Total calculated
    $256,720
    From this org
    $212,949
    From related orgs
    $0
    Other
    $43,771
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $174,688
    Bonus
    $0
    Other
    $38,261
    Deferred
    $24,737
    Nontaxable benefits
    $19,034
    Filer's total
    $256,720
  • Philip Evans

    VP FOR ADMIN. & GENERAL COUNSEL

    Total calculated
    $229,332
    From this org
    $205,443
    From related orgs
    $0
    Other
    $23,889
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,087
    Bonus
    $0
    Other
    $36,356
    Deferred
    $14,231
    Nontaxable benefits
    $9,658
    Filer's total
    $229,332
  • Yolanda Barbier Gibson

    VP FOR STUDENT AFFAIRS

    Total calculated
    $195,763
    From this org
    $166,509
    From related orgs
    $0
    Other
    $29,254
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,925
    Bonus
    $0
    Other
    $8,584
    Deferred
    $6,065
    Nontaxable benefits
    $23,189
    Filer's total
    $195,763
  • Scott Spriggs

    VP FOR RECRUIT. & CHIEF CREATIVE OFFICER

    Total calculated
    $187,314
    From this org
    $149,542
    From related orgs
    $0
    Other
    $37,772
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,282
    Bonus
    $0
    Other
    $13,260
    Deferred
    $11,171
    Nontaxable benefits
    $26,601
    Filer's total
    $187,314
  • Courtney Jarrett

    VP FOR FINANCE AND CFO

    Total calculated
    $212,704
    From this org
    $170,587
    From related orgs
    $0
    Other
    $42,117
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,340
    Bonus
    $0
    Other
    $16,247
    Deferred
    $12,914
    Nontaxable benefits
    $29,203
    Filer's total
    $212,704
  • Karen Abraham

    PROVOST

    Total calculated
    $213,596
    From this org
    $199,535
    From related orgs
    $0
    Other
    $14,061
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,983
    Bonus
    $0
    Other
    $10,552
    Deferred
    $14,061
    Nontaxable benefits
    $0
    Filer's total
    $213,596
  • Michael Stepniak

    EXECUTIVE DEAN-CREATIVITY

    Total calculated
    $192,473
    From this org
    $169,872
    From related orgs
    $0
    Other
    $22,601
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,367
    Bonus
    $0
    Other
    $9,505
    Deferred
    $12,570
    Nontaxable benefits
    $10,031
    Filer's total
    $192,473
  • Robert Kidd

    DEAN OF PHARMACY

    Total calculated
    $270,889
    From this org
    $225,906
    From related orgs
    $0
    Other
    $44,983
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,147
    Bonus
    $0
    Other
    $30,759
    Deferred
    $16,886
    Nontaxable benefits
    $28,097
    Filer's total
    $270,889
  • Jeff Coker

    DEAN-ARTS & SCIENCE (INT. DEAN-BUS.)

    Total calculated
    $202,625
    From this org
    $162,923
    From related orgs
    $0
    Other
    $39,702
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,923
    Bonus
    $0
    Other
    $9,000
    Deferred
    $11,901
    Nontaxable benefits
    $27,801
    Filer's total
    $202,625
  • Arthur Harralson

    PROFESSOR OF PHARMACOGENOMICS

    Total calculated
    $227,419
    From this org
    $185,354
    From related orgs
    $0
    Other
    $42,065
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $166,820
    Bonus
    $0
    Other
    $18,534
    Deferred
    $13,676
    Nontaxable benefits
    $28,389
    Filer's total
    $227,419
  • John O'Conor

    PROFESSOR KEYBOARD DIVISION

    Total calculated
    $199,122
    From this org
    $169,064
    From related orgs
    $0
    Other
    $30,058
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,162
    Bonus
    $0
    Other
    $25,902
    Deferred
    $12,274
    Nontaxable benefits
    $17,784
    Filer's total
    $199,122
  • Timothy Bloom

    PROFESSOR BIOPHARMACEUTICAL SCIENCES

    Total calculated
    $195,503
    From this org
    $165,229
    From related orgs
    $0
    Other
    $30,274
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,783
    Bonus
    $0
    Other
    $9,446
    Deferred
    $12,490
    Nontaxable benefits
    $17,784
    Filer's total
    $195,503
  • Zara Risoldi

    PROFESSOR, PHARMACY PRACTICE

    Total calculated
    $188,252
    From this org
    $158,284
    From related orgs
    $0
    Other
    $29,968
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,069
    Bonus
    $0
    Other
    $9,215
    Deferred
    $12,184
    Nontaxable benefits
    $17,784
    Filer's total
    $188,252
  • Michelle Gamber

    ASSOC. PROF., GRADUATE PUBLIC HEALTH

    Total calculated
    $187,280
    From this org
    $168,527
    From related orgs
    $0
    Other
    $18,753
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $148,983
    Bonus
    $0
    Other
    $19,544
    Deferred
    $8,722
    Nontaxable benefits
    $10,031
    Filer's total
    $187,280
  • Astrid Sheil

    FORMER DEAN-SCHOOL OF BUSINESS

    Total calculated
    $114,208
    From this org
    $102,912
    From related orgs
    $0
    Other
    $11,296
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $84,136
    Bonus
    $0
    Other
    $18,776
    Deferred
    $6,831
    Nontaxable benefits
    $4,465
    Filer's total
    $114,208

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE UNIVERSITY PROVIDES A HOUSING ALLOWANCE, CAR OR MILEAGE ALLOWANCE, AND SOCIAL CLUB DUES TO OFFICERS AND KEY EMPLOYEES. THE AMOUNT PROVIDED IS INCLUDED IN THEIR TAXABLE WAGES.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
12 May 2026
IRS schema version
2024v5.5
Source object
202601349349302610

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