DREW UNIVERSITY

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1868

Legal Domicile

Principal Officer

HILARY LINK

Phone

9734083000

Tax Period

2022-07-01 to 2023-06-30

DREW UNIVERSITY, founded in 1868, is a major nonprofit in the Education sector that reported $112.2M in total revenue in fiscal year 2022. Revenue decreased 8% compared to the prior year. Expenses of $130.1M exceeded revenue, resulting in a 16% operating deficit.

Mission

DREW UNIVERSITY, A PHI BETA KAPPA LIBERAL ARTS UNIVERSITY, INCLUDES THE COLLEGE OF LIBERAL ARTS, THE DREW THEOLOGICAL SCHOOL, AND THE CASPERSEN SCHOOL OF GRADUATE STUDIES. CONTINUED ON SCHEDULE O.

Program Service Accomplishments

Program 1

Expenses: $77,145,926 Revenue: $78,045,558

THE DREW UNIVERSITY COLLEGE OF LIBERAL ARTS AFFIRMS A COMMITMENT TO ITS FOUNDING VISION TO OFFER ITS STUDENTS A LIBERAL ARTS EDUCATION OF THE HIGHEST QUALITY THROUGH A RIGOROUS COURSE OF STUDY. THE COLLEGE CHALLENGES STUDENTS TO EXPLORE THE ARTS, NATURAL SCIENCES, SOCIAL SCIENCES,HUMANITIES, AND INTERDISCIPLINARY FIELDS IN DEPTH AND TO DEVELOP THEIR CAPACITIES FOR CRITICAL THOUGHT, PROBLEM SOLVING, EFFECTIVE COMMUNICATION, CREATIVITY, SELF DISCIPLINE, AND EMPATHY. AS THE COLLEGE PREPARES STUDENTS FOR ACADEMIC AND PROFESSIONAL ACHIEVEMENT, IT PROVIDES THEM WITH ESSENTIAL SKILLS FOR LIVING AND CONTINUING TO LEARN AND TO GROW IN AN INCREASINGLY DIVERSE AND COMPLEX WORLD.

Program 2

Expenses: $11,517,695 Revenue: $5,014,830

DREW THEOLOGICAL SCHOOL EMPOWERS LEADERSHIP FOR A GLOBAL CHRISTIANITY OF JUSTICE, ECUMENISM, AND THE INTEGRITY OF CREATION. ITS PASTORAL, SPIRITUAL, AND CONCEPTUAL DISCIPLINES GROW WITHIN AN INTIMATE LITURGICAL AND COMMUNAL CONTEXT, ONE THAT SUSTAINS MULTIPLE RELATIONS OF DIFFERENCE. THROUGH ITS PARTICULAR HISTORICAL COMMITMENTS TO AFRICAN, ASIAN, AFRICAN-AMERICAN, HISPANIC, AND WOMEN'S MINISTRIES, THE THEOLOGICAL SCHOOL REMAINS FAITHFULLY ROOTED IN ITS METHODIST HERITAGE. DREW NURTURES CHRISTIAN PRACTICES THROUGH VITAL PARTNERSHIP WITH LOCAL CHURCHES AND INTERNATIONAL NETWORKS OF EDUCATION. TRANS-DISCIPLINARY INTERPRETATION OF TEXT, TRADITION, AND EXPERIENCE ENERGIZES ITS SCHOLARLY VIGOR. DREW ENGENDERS THEOLOGIES RESPONSIBLE TO THE COMPLEX REALITIES OF AN INTERCONNECTED WORLD. INTO THAT WORLD, DREW SENDS PASTORS, PREACHERS AND PROPHETS, DEACONS, ACTIVISTS, AND TEACHERS.

Program 3

Expenses: $3,745,023 Revenue: $3,952,435

THE CASPERSEN SCHOOL OF GRADUATE STUDIES WAS FOUNDED ON THE PRINCIPLE OF THE IMPORTANCE OF INTERDISCIPLINARY STUDY IN THE HUMANITIES. THE GOAL OF THE SCHOOL'S FOUNDERS WAS TO FOSTER BROADLY EDUCATED PEOPLE WHO HAVE EXPERTISE IN A FIELD OF THOUGHT BUT WHO ARE ALSO FAMILIAR WITH AND ARTICULATE IN A RANGE OF HUMANISTIC STUDIES. THIS MISSION CONTINUES TO DISTINGUISH THE CASPERSEN SCHOOL AMONG INSTITUTIONS WITH DOCTORAL PROGRAMS IN THE HUMANITIES. OUR INTENT IS TO TRAIN PERSONS WHO ARE PROPERLY PREPARED NOT ONLY IN SPECIFIC RECOGNIZED FIELDS BUT ALSO ININTERDISCIPLINARY DIALOGUE. WE CELEBRATE THE JOY OF LEARNING AS WE PREPARE ABLE, WELL INFORMED GRADUATES WHO PURSUE CAREERS IN HIGHER EDUCATION, IN THE RELIGIOUS AND MEDICAL COMMUNITIES, AND IN THE BROADER INTELLECTUAL WORLD. AS SUCH, WE ARE WELL POSITIONED TO MEET THE INCREASING CALL FOR INTERDISCIPLINARY APPROACHES BOTH IN THE ACADEMY AND IN THE WIDER WORLD. INTEGRAL TO OUR MISSION IS ENCOURAGING OUR FACULTY AND STUDENTS ALIKE TO PURSUE CREATIVE RESEARCH IN THE HUMANITIES AND TO MAKE THE RESULTS OF THEIR WORK AVAILABLE THROUGH TEACHING, PARTICIPATION IN SCHOLARLY MEETINGS, VARIOUS FORMS OF PUBLICATION AND INTELLECTUAL DISCOURSE; TO THAT END WE CONTINUE TO EXPLORE NEW POSSIBILITIES OF ENHANCING INTERDISCIPLINARY STUDIES IN THE HUMANITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $10,248,872

Program Service Revenue $98,054,199

Investment Income $861,157

Other Revenue $3,007,172

TOTAL REVENUE $112,171,400

Expense Breakdown

Grants Paid $38,772,509

Salaries & Benefits $40,994,999

Fundraising Expenses $4,408,000

Program Expenses $106,677,755

Other Expenses $50,323,951

TOTAL EXPENSES $130,091,459

Year-over-Year Comparison

	2022	2021	Change
Revenue	$112,171,400	$122,404,308	-0.1%
Expenses	$130,091,459	$122,795,375	+0.1%
Net Income	$-17,920,059	$-391,067	+44.8%

Key Indicators

✗ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

1292

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$540,000

Total Directors