Drexel University

Analysis

Drexel University is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in August 1927, 99 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, Drexel University reported income of $1.41bn and spending of $1.41bn, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.35bn to $1.41bn (+4.6%), an average of +1.1% a year. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Drexel University sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within PA. Charities of a similar size with the same main cause include Research Foundation for the State University of New York ($1.40bn), Baylor University ($1.45bn) and Southern New Hampshire University ($1.37bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $10.7m (0.8% of expenses). Other salaries and wages came to $443.4m. It paid $471k in professional fundraising fees. At year end it held assets of $2.84bn against liabilities of $1.52bn, net assets of $1.32bn. It reported 12,049 employees.