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Nonprofiteer
← DREXEL UNIVERSITY

Form 990 for tax year 2024

Filed by DREXEL UNIVERSITY.

Totals

Total revenue
$1,465,915,989
Total expenses
$1,473,388,878
Contributions and grants received
$217,988,753
Grants paid
$444,710,365
Program service revenue
$1,157,589,074
Investment income
$71,754,223
Other revenue
$18,583,939
Total assets, end of year
$2,938,982,871
Total liabilities, end of year
$1,514,602,898
Net assets or fund balances, end of year
$1,424,379,973
Program services expenses (Part IX)
$1,275,149,929
Management and general expenses
$181,175,408
Fundraising expenses
$17,063,541
Program service expenses (Part III)
$1,275,149,929

Program services were 86.5% 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.

  • 1a · Federated campaigns

    $5,309

  • 1c · Fundraising events

    $442,735

  • 1d · Related organizations

    $2,022,722

  • 1e · Government grants (contributions)

    $130,950,741

  • 1f · All other contributions, gifts and grants

    $84,567,246

  • 1g · Noncash contributions included above

    $3,813,066

  • 2a · Program service revenue: TUITION AND FEES

    total $1,088,205,538 · related or exempt $1,088,205,538

  • 2b · Program service revenue: NON-DIRECT PUB SUPPORT

    total $29,008,743 · related or exempt $29,008,743

  • 2c · Program service revenue: PATIENT CARE

    total $28,320,543 · related or exempt $28,320,543

  • 2d · Program service revenue: AUXILIARY ENTERPRISES

    total $11,930,522 · related or exempt $11,930,522

  • 2e · Program service revenue: OTHER PROGRAM SERVICES

    total $123,728 · related or exempt $123,728

  • 3 · Investment income

    total $38,245,864 · excluded $38,245,864

  • 4 · Income from investment of tax-exempt bond proceeds

    total $6,480 · excluded $6,480

  • 5 · Royalties

    total $164,881 · excluded $164,881

  • 6a · Gross rents

    real property $3,344,957

  • 6b · Less rental expenses

    real property $512,202

  • 6c · Rental income or loss

    real property $2,832,755

  • 6d · Net rental income or loss

    total $2,832,755 · excluded $2,832,755

  • 7a · Gross sales of assets other than inventory

    securities $163,878,074 · other assets $16,180

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

    securities $129,019,423 · other assets $1,372,952

  • 7c · Gain or loss

    securities $34,858,651 · other assets -$1,356,772

  • 7d · Net gain or loss

    total $33,501,879 · excluded $33,501,879

  • 8a · Fundraising events: gross income

    $422,214

  • 8a · Fundraising events: contributions included on line 1c

    $442,735

  • 8b · Fundraising events: direct expenses

    $641,359

  • 8c · Net income from fundraising events

    total -$219,145 · excluded -$219,145

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $10,175,760 · related or exempt $8,619,855 · unrelated business $1,555,905

  • 11b · Other revenue: K-1 PASSTHROUGH

    total $4,918,756 · unrelated business $4,918,756

  • 11c · Other revenue: PARKING SERVICES

    total $710,932 · unrelated business $710,932

  • 11e · Other revenue, total

    $15,805,448

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,954,181 · program services $16,954,181

  • 2 · Grants to domestic individuals

    total $425,157,390 · program services $425,157,390

  • 3 · Grants to foreign organizations and individuals

    total $2,598,794 · program services $2,598,794

  • 5 · Compensation of officers, directors and key employees

    total $10,742,096 · program services $2,752,259 · management and general $6,738,558 · fundraising $1,251,279

  • 6 · Compensation of disqualified persons

    total $145,000 · management and general $145,000

  • 7 · Other salaries and wages

    total $499,525,942 · program services $421,769,871 · management and general $67,529,245 · fundraising $10,226,826

  • 8 · Pension plan contributions

    total $18,214,316 · program services $15,248,274 · management and general $2,568,018 · fundraising $398,024

  • 9 · Other employee benefits

    total $71,158,094 · program services $58,581,945 · management and general $11,028,588 · fundraising $1,547,561

  • 10 · Payroll taxes

    total $34,625,432 · program services $28,804,075 · management and general $5,045,587 · fundraising $775,770

  • 11a · Fees: management

    total $2,162,019 · program services $2,141,636 · management and general $20,383

  • 11b · Fees: legal

    total $2,887,383 · program services $647,563 · management and general $2,229,998 · fundraising $9,822

  • 11c · Fees: accounting

    total $1,554,687 · program services $42,830 · management and general $1,511,857

  • 11d · Fees: lobbying

    total $534,352 · program services $444,503 · management and general $89,849

  • 11e · Fees: professional fundraising services

    total $150,771 · fundraising $150,771

  • 11f · Fees: investment management

    total $4,032,736 · management and general $4,032,736

  • 11g · Fees: other

    total $49,127,527 · program services $36,690,279 · management and general $11,681,274 · fundraising $755,974

  • 12 · Advertising and promotion

    total $11,089,928 · program services $4,704,155 · management and general $6,378,907 · fundraising $6,866

  • 13 · Office expenses

    total $37,912,145 · program services $34,294,499 · management and general $3,228,692 · fundraising $388,954

  • 14 · Information technology

    total $30,891,049 · program services $24,452,162 · management and general $5,842,135 · fundraising $596,752

  • 15 · Royalties

    total $1,640,185 · program services $1,640,185

  • 16 · Occupancy

    total $115,576,445 · program services $91,665,228 · management and general $23,906,047 · fundraising $5,170

  • 17 · Travel

    total $10,178,822 · program services $9,619,242 · management and general $296,815 · fundraising $262,765

  • 19 · Conferences, conventions and meetings

    total $5,638,416 · program services $4,324,628 · management and general $995,597 · fundraising $318,191

  • 20 · Interest

    total $22,628,335 · program services $20,637,051 · management and general $1,991,284

  • 21 · Payments to affiliates

    total $6,173,019 · management and general $6,173,019

  • 22 · Depreciation, depletion and amortization

    total $55,276,556 · program services $51,106,892 · management and general $4,169,664

  • 23 · Insurance

    total $17,595,986 · program services $7,266,764 · management and general $10,325,991 · fundraising $3,231

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $7,013,438 · program services $7,013,438

  • 24b · Other expenses: PROFESSIONAL MEMBERSHIP

    total $2,328,249 · program services $1,615,693 · management and general $680,317 · fundraising $32,239

  • 24c · Other expenses: PARTICIPANT EXPENSE

    total $2,282,452 · program services $2,249,191 · management and general $33,261

  • 24d · Other expenses: UBI TAXES

    total $1,814,711 · management and general $1,814,711

  • 24e · All other expenses

    total $5,778,422 · program services $2,727,201 · management and general $2,717,875 · fundraising $333,346

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $102,851 · end of year $99,108

  • 2 · Savings and temporary cash investments

    beginning of year $21,448,375 · end of year $41,135,605

  • 3 · Pledges and grants receivable

    beginning of year $129,404,112 · end of year $106,867,693

  • 4 · Accounts receivable

    beginning of year $92,906,791 · end of year $103,299,674

  • 5 · Loans and receivables from officers and key people

    beginning of year $472,746 · end of year $491,042

  • 9 · Prepaid expenses and deferred charges

    beginning of year $11,094,771 · end of year $14,923,428

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

    $1,803,004,934

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

    $769,457,489

  • 10c · Land, buildings and equipment, net

    beginning of year $1,057,029,593 · end of year $1,033,547,445

  • 11 · Investments: publicly traded securities

    beginning of year $482,696,465 · end of year $440,453,834

  • 12 · Investments: other securities

    beginning of year $534,514,000 · end of year $625,618,961

  • 13 · Investments: program-related

    beginning of year $14,604,736 · end of year $12,904,848

  • 15 · Other assets

    beginning of year $565,356,135 · end of year $559,641,233

  • 17 · Accounts payable and accrued expenses

    beginning of year $148,186,452 · end of year $164,502,028

  • 19 · Deferred revenue

    beginning of year $146,409,463 · end of year $151,618,404

  • 20 · Tax-exempt bond liabilities

    beginning of year $387,154,565 · end of year $374,614,944

  • 23 · Secured mortgages and notes payable

    beginning of year $167,965,000 · end of year $177,400,000

  • 25 · Other liabilities

    beginning of year $665,679,214 · end of year $646,467,522

  • 27 · Net assets without donor restrictions

    beginning of year $598,962,738 · end of year $562,593,424

  • 28 · Net assets with donor restrictions

    beginning of year $795,273,143 · end of year $861,786,549

Mission and programs · 2024

Mission

DREXEL UNIVERSITY FULFILLS ITS FOUNDER'S VISION OF PREPARING EACH NEW GENERATION OF STUDENTS FOR PRODUCTIVE PROFESSIONAL AND CIVIC LIVES WHILE ALSO FOCUSING ITS COLLECTIVE EXPERTISE ON SOLVING SOCIETY'S GREATEST PROBLEMS. DREXEL IS AN ACADEMICALLY COMPREHENSIVE AND GLOBALLY ENGAGED URBAN RESEARCH UNIVERSITY, DEDICATED TO ADVANCING KNOWLEDGE AND SOCIETY AND TO PROVIDING EVERY STUDENT WITH A VALUABLE, RIGOROUS, EXPERIENTIAL, TECHNOLOGY-INFUSED EDUCATION, ENRICHED BY THE NATION'S PREMIER CO-OPERATIVE EDUCATION PROGRAM.

Activities or mission (Part I)

INTEGRATED ACADEMIC OFFERINGS ENHANCED BY TECHNOLOGY, COOPERATIVE EDUCATION AND CLINICAL PRACTICE

  • INSTRUCTIONDREXEL IS A COMPREHENSIVE NATIONAL RESEARCH UNIVERSITY DEDICATED TO PROVIDING QUALITY UNDERGRADUATE, GRADUATE AND PROFESSIONAL EDUCATION FEATURING EXCELLENT ACADEMICS, STATE-OF-THE-ART TECHNOLOGY AND A FOCUS ON REAL-WORLD LEARNING AND SERVICE. DREXEL IS CLASSIFIED AS AN R1 RESEARCH UNIVERSITY IN THE CARNEGIE CLASSIFICATION OF INSTITUTIONS OF HIGHER EDUCATION - A RANK THAT DENOTES THE HIGHEST LEVEL OF RESEARCH ACTIVITY, HELD BY JUST 37 PRIVATE UNIVERSITIES AROUND THE COUNTRY. DREXEL DISCLOSED 56 NEW INVENTIONS AND RECEIVED 25 NEW UNITED STATES PATENTS IN FISCAL YEAR 2025. THE UNIVERSITY'S MISSION SERVES TRADITIONAL, ADULT AND ONLINE STUDENTS. DREXEL OFFERS NATIONALLY ACCREDITED PROGRAMS THAT MEET THE CHANGING NEEDS OF SOCIETY, INCLUDING MORE THAN 100 BACHELOR'S DEGREE PROGRAMS AND MORE THAN 120 GRADUATE AND PROFESSIONAL DEGREE PROGRAMS ORGANIZED IN 17 COLLEGES AND SCHOOLS: COLLEGE OF ARTS AND SCIENCES; SCHOOL OF BIOMEDICAL ENGINEERING, SCIENCE AND HEALTH SYSTEMS; BENNETT S. LEBOW COLLEGE OF BUSINESS; COLLEGE OF COMPUTING & INFORMATICS; SCHOOL OF EDUCATION; COLLEGE OF ENGINEERING; CHARLES D. CLOSE SCHOOL OF ENTREPRENEURSHIP; PENNONI HONORS COLLEGE; THOMAS R. KLINE SCHOOL OF LAW; ANTOINETTE WESTPHAL COLLEGE OF MEDIA ARTS & DESIGN; COLLEGE OF MEDICINE; COLLEGE OF NURSING AND HEALTH PROFESSIONS; RICHARD C. GOODWIN COLLEGE OF PROFESSIONAL STUDIES; DANA AND DAVID DORNSIFE SCHOOL OF PUBLIC HEALTH; SCHOOL OF ECONOMICS; GRADUATE SCHOOL OF BIOMEDICAL SCIENCES AND PROFESSIONAL STUDIES AND PENNSYLVANIA COLLEGE OF OPTOMETRY.MOST RECENTLY, FOLLOWING APPROVAL FROM THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION (MSCHE) ACCREDITING BODY AND THE U.S. DEPARTMENT OF EDUCATION, DREXEL COMPLETED A MERGER WITH SALUS UNIVERSITY THAT BRINGS TOGETHER THE COMPLEMENTARY STRENGTHS OF BOTH INSTITUTIONS IN GRADUATE HEALTH SCIENCES EDUCATION, RESEARCH, AND CLINICAL PRACTICE. THE MERGER STRENGTHENS DREXEL'S PLACE AS A LEADER IN PREPARING FUTURE INTERPROFESSIONAL HEALTH SCIENCES PRACTITIONERS BY ADDING RENOWNED SALUS GRADUATE DEGREE PROGRAMS SUCH AS OPTOMETRY, AUDIOLOGY, BLINDNESS AND LOW VISION STUDIES, SPEECH-LANGUAGE PATHOLOGY, OCCUPATIONAL THERAPY, AND ORTHOTICS AND PROSTHETICS. IN ADDITION, THE MERGER WITH SALUS EXPANDS DREXEL'S PHYSICIAN ASSISTANT PROGRAM, GRADUATE ENROLLMENT, AND PROMOTE INTERDISCIPLINARY RESEARCH OPPORTUNITIES IN NEW AREAS.DREXEL'S STRATEGIC EFFORTS FOCUS ON INVESTING FURTHER IN ACADEMIC EXCELLENCE, SERVING MORE STUDENTS WHILE IMPROVING THE STUDENT EXPERIENCE AND ENHANCING THE UNIVERSITY'S GLOBAL IMPACT. DREXEL HAS GROWN TO BECOME AN ECONOMIC ENGINE FOR PHILADELPHIA, SERVING AS ONE OF THE CITY'S LARGEST EMPLOYERS, GENERATING MILLIONS OF DOLLARS IN WAGE TAXES, ATTRACTING EXTERNAL FUNDING FOR RESEARCH AND KEY REAL ESTATE DEVELOPMENT PROJECTS, INVESTING IN PUBLIC SCHOOLS, AND SUPPORTING IMPORTANT COMMUNITY ORGANIZATIONS.DREXEL'S ACADEMIC ENTERPRISE HELPS STRENGTHEN THE NEIGHBORHOODS AROUND ITS CAMPUSES. DREXEL HAS LED AND SUPPORTED A NUMBER OF PROJECTS THAT BRING RESOURCES TO THE COMMUNITY. THIS INCLUDES WORKING TO BRING GRANTS TO SUPPORT LOCAL SCHOOLS AND EARLY CHILDHOOD EDUCATION IN WEST PHILADELPHIA. THE UNIVERSITY ESTABLISHED ITS DIGITAL NAVIGATORS PROGRAM IN 2021 TO PROVIDE ACCESS TO LOW-COST INTERNET, DEVICES AND DIGITAL SKILLS TRAINING TO COMMUNITY MEMBERS WHO ARE LACKING ACCESS. DREXEL IS CURRENTLY RENOVATING THE FORMER WEST PHILADELPHIA COMMUNITY CENTER TO PRESERVE ITS LONGSTANDING ROLE IN SERVING THE LOCAL NEIGHBORHOOD WITH PUBLICLY ACCESSIBLE PROGRAMS AND ACTIVITIES. AS PART OF ITS "ACADEMIC TRANSFORMATION" INITIATIVE, DREXEL IS REIMAGINING THE INSTITUTION'S FUTURE THROUGH THE INTEGRATION OF PROGRAMS AND SCHOOLS AND A REDESIGN OF CURRICULUM AROUND CORE COMPETENCIES. DREXEL IS ALSO TRANSITIONING TO A SEMESTER SYSTEM. THIS SHIFT WILL PROVIDE STUDENTS WITH EVEN GREATER FLEXIBILITY AS THEY PURSUE CO-OP AND EXPERIENTIAL LEARNING OPPORTUNITIES. DRIVING THESE EFFORTS IS THE UNIVERSITY'S STEADFAST COMMITMENT TO DELIVERING A STUDENT-CENTERED, WORLD-CLASS EDUCATION - ONE THAT'S DEEPLY EXPERIENTIAL AND DESIGNED TO GIVE STUDENTS A POWERFUL HEAD START BEFORE THEY GRADUATE.DREXEL IS AN INSTITUTION THAT STANDS APART WITHIN THE HIGHER EDUCATION SECTOR BECAUSE EXPERIENTIAL EDUCATION HAS BEEN AT ITS CORE SINCE ITS FOUNDING IN 1891. BECAUSE OF THIS, DREXEL IS ONE OF A SMALL NUMBER OF UNIVERSITIES LEADING THE WAY AS THE SECTOR SHIFTS TO FOCUS ON RETURN ON INVESTMENT AND OTHER POSITIVE STUDENT OUTCOMES THAT EXPERIENTIAL EDUCATION HAS SHOWN TO PROVIDE. ABOUT 95 PERCENT OF STUDENTS PARTICIPATE IN CO-OP OPPORTUNITIES OR OTHER EXPERIENTIAL LEARNING, AND DREXEL GRADUATES RANK IN THE TOP 3 PERCENT NATIONWIDE FOR LIFETIME EARNINGS.EXPANDING ON THIS MODEL, THE UNIVERSITY ANNOUNCED THE LAUNCH OF AN EXPERIENTIAL EDUCATION HUB, A VISIONARY STEP THAT PROVIDES STUDENTS WITH AN ENHANCED OPPORTUNITY TO IMMEDIATELY APPLY THEIR EDUCATION TO THE REAL WORLD. THIS HUB WILL CLOSELY ALIGN THE UNIVERSITY'S FLAGSHIP CO-OP PROGRAM AND OTHER EXPERIENTIAL LEARNING OPPORTUNITIES INCLUDING RESEARCH, CIVIC ENGAGEMENT, GLOBAL EXPERIENCES AND PROJECT-BASED LEARNING WITH DREXEL'S ACADEMIC ENTERPRISE. AS AN IMPORTANT FIRST STEP IN CONNECTING ALL THESE EXPERIENCES, THE UNIVERSITY IS BRINGING TOGETHER - WITHIN THE OFFICE OF THE PROVOST - DREXEL GLOBAL AND THE STEINBRIGHT CAREER DEVELOPMENT CENTER. DREXEL HAS MADE A STRATEGIC COMMITMENT TO HELP IMPROVE THE NATION'S GLOBAL COMPETITIVENESS BY INCREASING STUDENTS' INTERNATIONAL ENGAGEMENT TO BUILD CULTURAL COMPETENCIES. DREXEL GLOBAL WORKS WITH UNITS ACROSS THE UNIVERSITY TO BUILD AN ECOSYSTEM OF GLOBAL PARTNERSHIPS AND PROGRAMS BOTH ON AND OFF CAMPUS THROUGH DREXEL'S TRADEMARK PROGRAMS IN CO-OP, EDUCATION ABROAD, RESEARCH PARTNERSHIPS AND INDUSTRY RELATIONS.UNDERGRADUATE ENROLLMENT FOR ACADEMIC YEAR 2024-2025 = 13,282GRADUATE AND PROFESSIONAL ENROLLMENT FOR ACADEMIC YEAR 2024-2025 = 7,871 NUMBER OF DEGREES CONFERRED IN ACADEMIC YEAR 2024-2025: ASSOCIATE DEGREES = 0 BACHELOR'S DEGREES = 2,830 MASTER'S DEGREES = 2,043 DOCTORAL DEGREES = 820 CERTIFICATES AND OTHER = 495LEADERSHIP:FOLLOWING A UNANIMOUS VOTE BY DREXEL UNIVERSITY'S BOARD OF TRUSTEES, POLITICAL ECONOMIST AND ACADEMIC, ANTONIO MERLO, PHD, WAS CONFIRMED ON JANUARY 31, 2025 AS THE 16TH PRESIDENT IN THE UNIVERSITY'S 133-YEAR HISTORY. MERLO, FORMER ANNE AND JOEL EHRENKRANZ DEAN OF NEW YORK UNIVERSITY'S FACULTY OF ARTS & SCIENCE, SUCCEEDED INTERIM PRESIDENT DENIS P. O'BRIEN AND BEGAN HIS TENURE AT DREXEL ON JULY 1, 2025.A HIGHLY ACCOMPLISHED SCHOLAR, MERLO IS RECOGNIZED AS AN ADMINISTRATOR WHO LEVERAGES ACADEMIC STRENGTHS, FOSTERS COMMUNITY, AND PROMOTES SCHOLARSHIP AND COLLABORATION ACROSS DEPARTMENTS. HE HAS REINFORCED DREXEL'S COMMITMENT TO PROVIDING A STUDENT-FOCUSED, TOP-TIER EDUCATION THAT EMPHASIZES REAL-WORLD EXPERIENCE AND GIVES STUDENTS A STRONG ADVANTAGE BEFORE THEY GRADUATE.

    Expenses $1,061,601,628 · Grants $425,377,015 · Revenue $1,111,509,131

  • RESEARCHDREXEL RESEARCHERS WORK ACROSS DISCIPLINES TO INCREASE THE WORLD'S STORE OF KNOWLEDGE AND TRANSLATE THAT NEW KNOWLEDGE INTO SOLUTIONS WITH TREMENDOUS POSITIVE IMPACT ON SOCIETY. TYPICALLY, THE UNIVERSITY RECEIVES ABOUT $110 MILLION PER YEAR IN RESEARCH EXPENDITURES. THE UNIVERSITY IS COMMITTED TO USING ITS RESEARCH AND TECHNOLOGICAL EXPERTISE TO BECOME AN EVEN MORE POWERFUL ECONOMIC ENGINE FOR GREATER PHILADELPHIA, HELPING TO CREATE NEW HIGH-TECH BUSINESSES AND JOBS. DREXEL IS CREATING AN ECOSYSTEM OF INNOVATION IN AND AROUND UNIVERSITY CITY. THIS ECOSYSTEM WILL ULTIMATELY BENEFIT STUDENTS, THROUGH CO-OPS AND CAREER OPPORTUNITIES; FACULTY, THROUGH COLLABORATIVE RESEARCH AND TRAINING; AND THE SURROUNDING COMMUNITY, THROUGH THE CREATION OF PIPELINES TO EMPLOYMENT.THIS COMMITMENT IS AT THE HEART OF SCHUYLKILL YARDS, A $3.5 BILLION MIXED-USE PROJECT WITH DEVELOPMENT PARTNER BRANDYWINE REALTY TRUST ON UNIVERSITY REAL ESTATE ADJACENT TO PHILADELPHIA'S AMTRAK 30TH STREET STATION. IN PARTNERSHIP WITH WEXFORD SCIENCE AND TECHNOLOGY, DREXEL IS ALSO EXTENDING UCITY SQUARE, A MULTI-BILLION-DOLLAR DEVELOPMENT, THROUGH A FACILITY THAT HOUSES K-8 PUBLIC SCHOOLS AND AN ACADEMIC BUILDING THAT RELOCATED THE COLLEGE OF MEDICINE AND COLLEGE OF NURSING AND HEALTH PROFESSIONS TO THE UNIVERSITY CITY CAMPUS.MOST RECENTLY, SPARK THERAPEUTICS BROKE GROUND ON A $575 MILLION STATE-OF-THE-ART GENE THERAPY INNOVATION CENTER ON DREXEL'S CAMPUS. THROUGH A PARTNERSHIP WITH GATTUSO DEVELOPMENT PARTNERS, THE CAMPUS WILL ALSO BOAST WHAT IS EXPECTED TO BECOME THE CITY'S LARGEST LIFE SCIENCES FACILITY.DURING FY25, DREXEL UNIVERSITY CONDUCTED RESEARCH ON THE FOLLOWING RESEARCH GRANTS:FEDERALLY SPONSORED RESEARCH - 911 GRANTSSTATE OF PENNSYLVANIA SPONSORED RESEARCH - 93 GRANTSCITY OF PHILADELPHIA CONTRACTS - 25 GRANTSPRIVATE FOUNDATION SPONSORED RESEARCH - 369 GRANTSINDUSTRY SPONSORED RESEARCH - 82 GRANTS

    Expenses $172,735,685 · Grants $19,333,350 · Revenue $26,168,369

  • PATIENT CARE/PUBLIC SERVICEIT IS DREXEL UNIVERSITY'S PATIENT CARE MISSION TO SERVE THE COMMUNITY THROUGH THE DELIVERY OF HIGH-QUALITY, COST-EFFECTIVE HEALTH CARE SERVICES, INCLUDING PROGRAMS OF HEALTH PROMOTION AND DISEASE PREVENTION. ALL CLINICAL SERVICES ARE PROVIDED WITH CAREFUL REGARD FOR THE INDIVIDUAL PATIENT AND THEIR FAMILY. THE UNIVERSITY'S CLINICAL PRACTICES PROVIDE PATIENT-CENTERED HEALTH CARE IN A VARIETY OF SERVICES INCLUDING GENERAL INTERNAL MEDICINE, HIV/AIDS, STUDENT HEALTH, ADDICTION MEDICINE, PSYCHIATRY, EATING DISORDERS, AND OPTOMETRY, AMONG OTHERS.

    Expenses $40,812,616 · Revenue $28,531,429

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

Listed in Part VII

  • JOHN A FRY

    PRESIDENT (TO 9/30/24)

    Total calculated
    $1,880,879
    From this org
    $1,829,538
    From related orgs
    $0
    Other
    $51,341
    Hours/week
    40 + 7 related

    Schedule J breakdown matched by us

    Base
    $934,332
    Bonus
    $391,755
    Other
    $503,451
    Deferred
    $37,950
    Nontaxable benefits
    $13,391
    Filer's total
    $1,880,879

  • MICHAEL MITTELMAN

    TRUSTEE (AS OF 7/1/24)

    Total calculated
    $209,502
    From this org
    $188,450
    From related orgs
    $0
    Other
    $21,052
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,450
    Bonus
    $0
    Other
    $0
    Deferred
    $20,728
    Nontaxable benefits
    $324
    Filer's total
    $209,502

  • DENIS O'BRIEN

    INTERIM PRESIDENT (AS OF 10/1/24)

    Total calculated
    $0
    Hours/week
    40 + 7 related

  • RICHARD GREENAWALT

    CHAIR (TO 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • J MICHAEL LAWRIE

    CHAIR (AS OF 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • RICHARD HAYNE

    VICE CHAIR (TO 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • NINA HENDERSON

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • RICHELLE PARHAM

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • STAN SILVERMAN

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL J WILLIAMS

    VICE CHAIR (AS OF 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • ALFRED F ALTOMARI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CHRIS MCKENDRY ANDRADE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JEFFREY A BEACHELL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • JAMES BEAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • THOMAS BEEMAN

    TRUSTEE (AS OF 7/1/24)

    Total calculated
    $0
    Hours/week
    2

  • GREGORY S BENTLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • THOMAS RICK BERK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SUZANNE BIEMILLER

    TRUSTEE (AS OF 3/5/25)

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • TED BRYCE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KAREN DOUGHERTY BUCHOLZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • THOMAS A CARAMANICO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • HONORABLE IDA K CHEN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KATHLEEN P CHIMICLES

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • K BLAIR CHRISTIE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • DELLA CLARK

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ABBIE DEAN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • NICHOLAS DEBENEDICTIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • REBECCA DELIA

    TRUSTEE (AS OF 7/1/24)

    Total calculated
    $0
    Hours/week
    2

  • AMISH DESAI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • GERIANNE T DIPIANO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • DOMENIC M DIPIERO III

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ANGELA DOWD-BURTON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CHRISTOPHER FERGUSON

    TRUSTEE (AS OF 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • THOMAS O FITZPATRICK ESQ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • BRIAN R FORD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MICHAEL FORMAN

    TRUSTEE (TO 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • KENNETH FULMER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • SEAN J GALLAGHER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • DAVID R GELTZER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • BERNARD GREENE

    TRUSTEE (AS OF 7/1/24)

    Total calculated
    $0
    Hours/week
    2

  • DAVID GRIFFITH

    TRUSTEE (TO 3/5/25)

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • MAURICIO GUTIERREZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • NICK HOWLEY

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CLIFFORD A HUDIS

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • RICHARD C ILL

    TRUSTEE (TO 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • PATRICIA H IMBESI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JOSEPH H JACOVINI ESQ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • THOMAS R KLINE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • THOMAS LEONARD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ALBERT LORD

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JEFFREY LYASH JR

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JERRY J MARTIN

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MARK MCADOO

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • PATRICK MCGONIGAL

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MATTHEW S NAYLOR

    TRUSTEE (TO 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • KEVIN J O'HARA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • ANDREW PENNONI

    TRUSTEE (AS OF 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • THOMAS M RAMPULLA

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KATHLEEN REAPE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • KATHLEEN REARDON

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • MARIA RENZ

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • LEVOYD ROBINSON

    TRUSTEE (TO 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • VIRGINIA S ROSE

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • JOSEPH P UJOBAI

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • CHARLES K VALUTAS

    TRUSTEE (TO 5/14/25)

    Total calculated
    $0
    Hours/week
    2

  • STEPHEN L WANNER

    TRUSTEE

    Total calculated
    $0
    Hours/week
    2

  • HELEN Y BOWMAN

    EXECUTIVE VP/COO/CFO/TREASURER

    Total calculated
    $863,727
    From this org
    $731,029
    From related orgs
    $0
    Other
    $132,698
    Hours/week
    40 + 7 related

    Schedule J breakdown matched by us

    Base
    $723,722
    Bonus
    $7,307
    Other
    $0
    Deferred
    $112,950
    Nontaxable benefits
    $19,748
    Filer's total
    $863,727

  • DARIN PFEIFER

    SECRETARY

    Total calculated
    $211,193
    From this org
    $186,059
    From related orgs
    $0
    Other
    $25,134
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,166
    Bonus
    $1,893
    Other
    $0
    Deferred
    $17,204
    Nontaxable benefits
    $7,930
    Filer's total
    $211,193

  • TRACY POWELL

    SVP, UNIVERSITY MARKETING & COMM

    Total calculated
    $535,195
    From this org
    $477,757
    From related orgs
    $0
    Other
    $57,438
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $393,757
    Bonus
    $84,000
    Other
    $0
    Deferred
    $37,950
    Nontaxable benefits
    $19,488
    Filer's total
    $535,195

  • DAVID L UNRUH

    SVP, INSTITUTIONAL ADVANCEMENT

    Total calculated
    $825,716
    From this org
    $693,018
    From related orgs
    $0
    Other
    $132,698
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $525,261
    Bonus
    $5,318
    Other
    $162,439
    Deferred
    $112,950
    Nontaxable benefits
    $19,748
    Filer's total
    $825,716

  • MICHAEL J EXLER ESQ

    SVP AND GENERAL COUNSEL

    Total calculated
    $819,188
    From this org
    $686,490
    From related orgs
    $0
    Other
    $132,698
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $518,801
    Bonus
    $5,250
    Other
    $162,439
    Deferred
    $112,950
    Nontaxable benefits
    $19,748
    Filer's total
    $819,188

  • BRIAN T KEECH

    SVP, GOVERNMENT AND COMM RELATIONS

    Total calculated
    $472,993
    From this org
    $415,295
    From related orgs
    $0
    Other
    $57,698
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $341,830
    Bonus
    $73,465
    Other
    $0
    Deferred
    $37,950
    Nontaxable benefits
    $19,748
    Filer's total
    $472,993

  • PAUL JENSEN

    NINA HENDERSON PROVOST & EVP

    Total calculated
    $717,509
    From this org
    $659,811
    From related orgs
    $0
    Other
    $57,698
    Hours/week
    40 + 2 related

    Schedule J breakdown matched by us

    Base
    $653,224
    Bonus
    $6,587
    Other
    $0
    Deferred
    $37,950
    Nontaxable benefits
    $19,748
    Filer's total
    $717,509

  • ELISABETH VAN BOCKSTAELE

    SVP, GRADUATE AND ONLINE EDUCATION

    Total calculated
    $827,547
    From this org
    $699,203
    From related orgs
    $0
    Other
    $128,344
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $532,168
    Bonus
    $4,596
    Other
    $162,439
    Deferred
    $112,950
    Nontaxable benefits
    $15,394
    Filer's total
    $827,547

  • SUBIR SAHU

    SVP, STUDENT SUCCESS & INT SVP

    Total calculated
    $765,556
    From this org
    $640,018
    From related orgs
    $0
    Other
    $125,538
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $473,379
    Bonus
    $4,200
    Other
    $162,439
    Deferred
    $106,050
    Nontaxable benefits
    $19,488
    Filer's total
    $765,556

  • CHARLES CAIRNS

    DEAN & SVP, MED AFFAIRS, COM

    Total calculated
    $1,222,026
    From this org
    $1,066,351
    From related orgs
    $0
    Other
    $155,675
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $814,528
    Bonus
    $8,165
    Other
    $243,658
    Deferred
    $137,950
    Nontaxable benefits
    $17,725
    Filer's total
    $1,222,026

  • ALEISTER SAUNDERS

    EXEC. VICE PROVOST, RES. & INNOV

    Total calculated
    $395,567
    From this org
    $347,990
    From related orgs
    $0
    Other
    $47,577
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $344,548
    Bonus
    $3,442
    Other
    $0
    Deferred
    $27,829
    Nontaxable benefits
    $19,748
    Filer's total
    $395,567

  • MEGAN WEYLER

    SVP AND CHRO

    Total calculated
    $724,160
    From this org
    $610,242
    From related orgs
    $0
    Other
    $113,918
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $443,345
    Bonus
    $4,458
    Other
    $162,439
    Deferred
    $106,050
    Nontaxable benefits
    $7,868
    Filer's total
    $724,160

  • CATHERINE ULOZAS

    SVP, CHIEF INVESTMENT OFFICER

    Total calculated
    $657,530
    From this org
    $510,087
    From related orgs
    $0
    Other
    $147,443
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $398,696
    Bonus
    $3,100
    Other
    $108,291
    Deferred
    $137,950
    Nontaxable benefits
    $9,493
    Filer's total
    $657,530

  • REBECCA RHYNHART

    SVP FIN/CFO/DEP TREAS (TO 3/17/25)

    Total calculated
    $428,887
    From this org
    $379,252
    From related orgs
    $0
    Other
    $49,635
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $379,252
    Bonus
    $0
    Other
    $0
    Deferred
    $31,333
    Nontaxable benefits
    $18,302
    Filer's total
    $428,887

  • DAWN MEDLEY

    SVP, ENROLL MGMT (TO 6/10/25)

    Total calculated
    $466,968
    From this org
    $419,829
    From related orgs
    $0
    Other
    $47,139
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $394,329
    Bonus
    $0
    Other
    $25,500
    Deferred
    $37,950
    Nontaxable benefits
    $9,189
    Filer's total
    $466,968

  • VERDI DISESA

    SR. VICE DEAN & COO

    Total calculated
    $531,507
    From this org
    $493,054
    From related orgs
    $0
    Other
    $38,453
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $346,333
    Bonus
    $3,749
    Other
    $142,972
    Deferred
    $37,555
    Nontaxable benefits
    $898
    Filer's total
    $531,507

  • ZACHARY SPIKER

    HEAD COACH, BASKETBALL

    Total calculated
    $541,135
    From this org
    $491,044
    From related orgs
    $0
    Other
    $50,091
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $486,244
    Bonus
    $4,800
    Other
    $0
    Deferred
    $31,050
    Nontaxable benefits
    $19,041
    Filer's total
    $541,135

  • THOMAS DECHIARO

    VP, INFORMATION TECHNOLOGY & CIO

    Total calculated
    $535,914
    From this org
    $490,541
    From related orgs
    $0
    Other
    $45,373
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $405,260
    Bonus
    $4,062
    Other
    $81,219
    Deferred
    $37,950
    Nontaxable benefits
    $7,423
    Filer's total
    $535,914

  • SHARON WALKER

    DEAN, COLLEGE OF ENGINEERING

    Total calculated
    $539,751
    From this org
    $488,953
    From related orgs
    $0
    Other
    $50,798
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $488,953
    Bonus
    $0
    Other
    $0
    Deferred
    $31,050
    Nontaxable benefits
    $19,748
    Filer's total
    $539,751

  • PAUL BRANDT-RAUF

    DEAN, SCHOOL OF BIOMEDICAL ENG

    Total calculated
    $526,477
    From this org
    $479,541
    From related orgs
    $0
    Other
    $46,936
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $474,766
    Bonus
    $4,775
    Other
    $0
    Deferred
    $37,950
    Nontaxable benefits
    $8,986
    Filer's total
    $526,477

  • DANIEL SCHIDLOW

    FORMER KEY EMPLOYEE

    Total calculated
    $348,897
    From this org
    $314,086
    From related orgs
    $0
    Other
    $34,811
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $311,086
    Bonus
    $3,000
    Other
    $0
    Deferred
    $33,330
    Nontaxable benefits
    $1,481
    Filer's total
    $348,897

  • NIKI GIANAKARIS

    FORMER KEY EMPLOYEE

    Total calculated
    $191,303
    From this org
    $166,533
    From related orgs
    $0
    Other
    $24,770
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,833
    Bonus
    $1,700
    Other
    $0
    Deferred
    $15,453
    Nontaxable benefits
    $9,317
    Filer's total
    $191,303

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 · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees
  • 1a · Personal services (maid, chauffeur, chef)
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 1b · Written policy on the line-1a expenses
  • 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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
UNIVERSITY BUSINESS TRAVEL POLICY AUTHORIZES BUSINESS TRAVEL OR FIRST-CLASS TRAVEL (IF BUSINESS CLASS IS NOT AVAILABLE) FOR ALL EMPLOYEES IF THE FLIGHT EXCEEDS FIVE HOURS IN DURATION AND IF WRITTEN APPROVAL IS OBTAINED IN ADVANCE. GENERALLY, THE UNIVERSITY DOES NOT PAY FOR OR REIMBURSE THE TRAVEL-RELATED OR ENTERTAINMENT EXPENSES OF AN EMPLOYEE'S OR OTHER AUTHORIZED PERSON'S SPOUSE/COMPANION. SPOUSAL/COMPANION TRAVEL IS PAID FOR OR REIMBURSED BY THE UNIVERSITY ON RARE OCCASIONS, AND ONLY IF SUCH TRAVEL MEETS EXCEPTIONS OUTLINED IN THE UNIVERSITY'S SPOUSAL/COMPANION POLICY. TO QUALIFY FOR AN EXCEPTION, THERE MUST BE A DOCUMENTED AND BONA FIDE BUSINESS PURPOSE DIRECTLY BENEFITING THE UNIVERSITY, AND THE PRESENCE OF THE SPOUSE/COMPANION MUST BE ESSENTIAL TO THE UNIVERSITY EMPLOYEE OR OTHER AUTHORIZED PERSONNEL. THE PRESIDENT IS PROVIDED A MONTHLY HOUSING ALLOWANCE, WHICH IS INCLUDED IN HIS TAXABLE INCOME. THE PRESIDENT IS ALSO PROVIDED A DRIVER TO ATTEND UNIVERSITY RELATED EVENTS, THE VALUE OF WHICH IS NOT INCLUDED IN TAXABLE INCOME. THE PRESIDENT WAS PROVIDED FINANCIAL PLANNING SERVICES, WHICH IS INCLUDED IN TAXABLE INCOME. THE PRESIDENT RECEIVES SOCIAL CLUB MEMBERSHIPS FOR BUSINESS-RELATED ACTIVITIES. THE PRESIDENT IS REQUIRED TO REPORT ANY PERSONAL USE OF SOCIAL CLUB MEMBERSHIPS, AND SUCH USE IS INCLUDED IN TAXABLE INCOME. SOCIAL CLUB DUES FOR BUSINESS-RELATED ACTIVITIES WERE PROVIDED FOR SENIOR VICE PRESIDENTS AND DEANS, AND ARE TREATED AS NON-TAXABLE COMPENSATION. SENIOR VICE PRESIDENTS AND DEANS ARE REQUIRED TO REPORT ANY PERSONAL USE OF SOCIAL CLUB MEMBERSHIPS, AND SUCH USE IS INCLUDED IN TAXABLE INCOME.
PART I, LINE 1B
HOUSING ALLOWANCE AND SOCIAL CLUB MEMBERSHIPS WERE APPROVED FOR THE PRESIDENT BY THE BOARD.
PART I, LINES 4A-B
SEVERANCE PAYMENTS CONTINGENT ON SEPARATION FROM THE ORGANIZATION: VERDI DISEA RECEIVED $124,950 IN A LUMP-SUM SEVERANCE PAYMENT AS WELL AS $18,022 IN VACATION PAYOUT. THE FOLLOWING INDIVIDUALS WERE PAID DEFERRED COMPENSATION DURING CALENDAR YEAR 2024. SEE DISCLOSURE FOR PART II FOR MORE DETAIL ON EACH INDIVIDUAL'S DEFERRED COMPENSATION ARRANGEMENT. CHARLES CAIRNS $243,658 ELISABETH VAN BOCKSTAELE $162,439 DAVID UNRUH $162,439 MICHAEL EXLER $162,439 SUBIR SAHU $162,439 MEGAN WEYLER $162,439 CATHERINE ULOZAS $108,291 THOMAS DECHIARO $81,219
PART I, LINE 7
PRESIDENT FRY SHALL BE ENTITLED TO A MINIMUM ANNUAL PERFORMANCE BONUS OF 20% OF BASE PAY, PROVIDED HE CONTINUES TO BE EMPLOYED BY THE UNIVERSITY ON THE LAST DAY OF THE FISCAL YEAR AND SHALL BE ELIGIBLE FOR A HIGHER BONUS BASED ON GOAL ACHIEVEMENT. MEMBERS OF THE SENIOR LEADERSHIP TEAM SHALL BE ELIGIBLE FOR AN ANNUAL PERFORMANCE BONUS, SUBJECT TO LIMITATION, RECOMMENDED BY PRESIDENT FRY AND APPROVED BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD.
SCHEDULE J, PART I, LINE 7:
IN JANUARY 2024, A 1% ONE-TIME PAYMENT WAS ISSUED TO FACULTY AND PROFESSIONAL STAFF WHO WERE EMPLOYED BY DREXEL OR THE ACADEMY BEFORE JULY 2023 AND DID NOT RECEIVE A SALARY INCREASE SINCE THAT TIME. TO BE ELIGIBLE FOR THE PAYMENT, ALL COMPLIANCE AND PERFORMANCE DEVELOPMENT REQUIREMENTS MUST HAVE BEEN COMPLETED ON TIME.
PART II:
THE UNIVERSITY PROVIDES HELEN BOWMAN, CHARLES CAIRNS, DAVID UNRUH, ELIZABETH VAN BOCKSTAELE, MICHAEL EXLER, MEGAN WEYLER, SUBIR SAHU, AND CATHERINE ULOZAS WITH DEFERRED COMPENSATION ARRANGEMENTS. THE UNIVERSITY WILL CREDIT MS. BOWMAN WITH $75,000 EACH JULY 1, BEGINNING WITH JULY 1, 2023, AND ENDING JULY 1, 2026, IF SHE REMAINS EMPLOYED WITH THE UNIVERSITY. THE ACCOUNT WILL BE CREDITED ANNUALLY WITH INTEREST. MS. BOWMAN WILL BECOME FULLY VESTED IN THE BALANCE OF THE ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2026, (II) INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MS. BOWMAN RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. THE UNIVERSITY WILL CREDIT DR. CAIRNS WITH $100,000 EACH JULY 1, BEGINNING WITH JULY 1, 2024, AND ENDING JULY 1, 2026, IF HE REMAINS EMPLOYED WITH THE UNIVERSITY. THE ACCOUNT WILL BE CREDITED ANNUALLY WITH INTEREST. DR. CAIRNS WILL BECOME FULLY VESTED IN THE BALANCE OF THE ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2026, (II) INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF DR. CAIRNS RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. THE UNIVERSITY WILL CREDIT MR. UNRUH WITH $75,000 EACH JULY 1, BEGINNING WITH JULY 1, 2024, AND ENDING JULY 1, 2026, IF HE REMAINS EMPLOYED WITH THE UNIVERSITY. THE ACCOUNT WILL BE CREDITED ANNUALLY WITH INTEREST. MR. UNRUH WILL BECOME FULLY VESTED IN THE BALANCE OF THE ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2026, (II) INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MR. UNRUH RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. THE UNIVERSITY WILL CREDIT MS. VAN BOCKSTAELE WITH $75,000 EACH JULY 1, BEGINNING WITH JULY 1, 2024, AND ENDING JULY 1, 2026, IF SHE REMAINS EMPLOYED WITH THE UNIVERSITY. THE ACCOUNT WILL BE CREDITED ANNUALLY WITH INTEREST. MS. VAN BOCKSTAELE WILL BECOME FULLY VESTED IN THE BALANCE OF THE ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2026, (II) INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MS. VAN BOCKSTAELE RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. THE UNIVERSITY WILL CREDIT MR. EXLER WITH $75,000 EACH JULY 1, BEGINNING WITH JULY 1, 2024, AND ENDING JULY 1, 2026, IF HE REMAINS EMPLOYED WITH THE UNIVERSITY. THE ACCOUNT WILL BE CREDITED ANNUALLY WITH INTEREST. MR. EXLER WILL BECOME FULLY VESTED IN THE BALANCE OF THE ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2026, (II) INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MR. EXLER RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. THE UNIVERSITY WILL CREDIT MS. WEYLER WITH $75,000 EACH JULY 1, BEGINNING WITH JULY 1, 2024, AND ENDING JULY 1, 2026, IF SHE REMAINS EMPLOYED WITH THE UNIVERSITY. THE ACCOUNT WILL BE CREDITED ANNUALLY WITH INTEREST. MS. WEYLER WILL BECOME FULLY VESTED IN THE BALANCE OF THE ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2026, (II) INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MS. WEYLER RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. THE UNIVERSITY WILL CREDIT MR. SAHU WITH $75,000 EACH JULY 1, BEGINNING WITH JULY 1, 2024, AND ENDING JULY 1, 2026, IF HE REMAINS EMPLOYED WITH THE UNIVERSITY. THE ACCOUNT WILL BE CREDITED ANNUALLY WITH INTEREST. MR. SAHU WILL BECOME FULLY VESTED IN THE BALANCE OF THE ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2026, (II) INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MR. SAHU RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. THE UNIVERSITY WILL CREDIT MS. ULOZAS WITH $100,000 EACH JULY 1, BEGINNING WITH JULY 1, 2024, AND ENDING JULY 1, 2026, IF SHE REMAINS EMPLOYED WITH THE UNIVERSITY. THE ACCOUNT WILL BE CREDITED ANNUALLY WITH INTEREST. MS. ULOZAS WILL BECOME FULLY VESTED IN THE BALANCE OF THE ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2027, (II) INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MS. ULOZAS RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED.

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

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • 3509 SPRING GARDEN LP

    RELATED · REAL ESTATE · PA · 10% owned · share of income -$45,456 · share of assets $745,259

    Directly controlled by 3509 SPRING GARDEN GP INC

  • DUC LLC

    RELATED · DEVELOPMENT AND INVESTMENT · PA · 95% owned · share of income $216,769 · share of assets $19,666,779 · general or managing partner

    Directly controlled by DREXEL UNIVERSITY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • 3509 SPRING GARDEN GP INC

    C · REAL ESTATE · PA · 100% owned · share of income -$392,419 · share of assets $2,542,269 · controlled entity

    Directly controlled by DREXEL UNIVERSITY

  • DREXEL GLOBAL INDIA PRIVATE LIMITED

    C · EDUCATIONAL · IN · 100% owned · share of assets $12,000 · controlled entity

    Directly controlled by DREXEL UNIVERSITY

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2026
IRS schema version
2024v5.5
Source object
202611349349311266

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