Drew University

Analysis

Drew University is a registered charity in United States, based in Madison, NJ. It received its IRS tax-exemption ruling in January 1935, 91 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Drew University reported income of $112.2m and spending of $130.1m, spending 116% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $118.5m to $112.2m (-5.4%), an average of -1.4% a year. The sharpest change came in the year to June 2022, when income rose by 27%. Over the whole period it spent 112% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Drew University sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 100th percentile within NJ. Charities of a similar size with the same main cause include Dominican University ($112.1m), Oklahoma City University ($112.3m) and Ohio Wesleyan University ($112.1m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 9.1% and program service revenue 87% of the total. Compensation of current officers, directors and key employees was $1.3m (1.0% of expenses). Other salaries and wages came to $30.6m. At year end it held assets of $233.0m against liabilities of $90.9m, net assets of $142.1m. It reported 1,292 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.