THOMAS JEFFERSON 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

1824

Legal Domicile

Principal Officer

JOSEPH G CACCHIONE MDFACC

Phone

2155038344

Tax Period

2023-07-01 to 2024-06-30

THOMAS JEFFERSON UNIVERSITY, founded in 1824, is a large national nonprofit in the Education sector that reported $1.6B in total revenue in fiscal year 2023.

Mission

THOMAS JEFFERSON UNIVERSITY ("TJU") IS A COMPREHENSIVE UNIVERSITY WITH PREEMINENCE IN TRANSDISCIPLINARY, EXPERIENTIAL PROFESSIONAL EDUCATION, RESEARCH AND DISCOVERY, DELIVERING EXCEPTIONAL VALUE FOR THE 21ST CENTURY STUDENTS WITH EXCELLENCE IN ARCHITECTURE, BUSINESS, DESIGN, FASHION, ENGINEERING, HEALTH, MEDICINE, SCIENCE AND TEXTILES - INFUSED WITH THE LIBERAL ARTS. THE ORGANIZATION IS THE TAX-EXEMPT PARENT ORGANIZATION OF THOMAS JEFFERSON UNIVERSITY/JEFFERSON HEALTH; A COMPREHENSIVE PROFESSIONAL UNIVERSITY AND TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM ("SYSTEM"), WITH A TRIPARTITE MISSION OF EDUCATION, RESEARCH AND PATIENT CARE. THE ORGANIZATION CONDUCTS RESEARCH AND OFFERS UNDERGRADUATE AND GRADUATE INSTRUCTION THROUGH THE SIDNEY KIMMEL MEDICAL COLLEGE AND THE JEFFERSON COLLEGES OF NURSING, PHARMACY, HEALTH PROFESSIONS, POPULATION HEALTH, AND BIOMEDICAL SCIENCES.

Program Service Accomplishments

Program 1

Expenses: $1,613,581,033 Revenue: $1,551,148,170

EXPENSES INCURRED IN FUNCTIONING AS AN INNOVATIVE HEALTH SCIENCES UNIVERSITY THAT CONDUCTS RESEARCH AND OFFERS UNDERGRADUATE AND GRADUATE INSTRUCTION THROUGH THE SIDNEY KIMMEL MEDICAL COLLEGE AT...

EXPENSES INCURRED IN FUNCTIONING AS AN INNOVATIVE HEALTH SCIENCES UNIVERSITY THAT CONDUCTS RESEARCH AND OFFERS UNDERGRADUATE AND GRADUATE INSTRUCTION THROUGH THE SIDNEY KIMMEL MEDICAL COLLEGE AT THOMAS JEFFERSON UNIVERSITY, AS WELL AS, THE JEFFERSON COLLEGES OF NURSING, PHARMACY, HEALTH PROFESSIONS, POPULATION HEALTH, REHABILITATION SCIENCES AND LIFE SCIENCES. ADDITIONALLY, THIS ORGANIZATION SERVES AS THE TAX-EXEMPT PARENT ORGANIZATION OF THOMAS JEFFERSON UNIVERSITY/JEFFERSON HEALTH; A COMPREHENSIVE PROFESSIONAL UNIVERSITY AND TAX-EXEMPT INTEGRATED HEALTHCARE DELIVERY SYSTEM ("SYSTEM"), WITH A TRIPARTITE MISSION OF EDUCATION, RESEARCH AND PATIENT CARE. FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE ORGANIZATION'S COMMUNITY BENEFIT STATEMENT INCLUDED IN SCHEDULE O.

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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 (2023)

Revenue Breakdown

Contributions & Grants $44,702,851

Program Service Revenue $1,551,148,170

Investment Income $14,041,663

Other Revenue $3,356,599

TOTAL REVENUE $1,613,249,283

Expense Breakdown

Grants Paid $42,297,315

Salaries & Benefits $926,301,543

Fundraising Expenses $1,057,514

Program Expenses $1,613,581,033

Other Expenses $700,960,821

TOTAL EXPENSES $1,669,559,679

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,613,249,283	$1,666,137,809	0.0%
Expenses	$1,669,559,679	$1,649,493,276	+0.0%
Net Income	$-56,310,396	$16,644,533	-4.4%

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

7711

Volunteers

2558

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

$11,443,407

Total Directors

$5,747,930

Key Employees

$6,714,376

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOSEPH G CACCHIONEMDFACC	TRUSTEE - CEO TJU/JEFF HEALTH	60.0	Officer Director	$5,674,228	$73,702	$5,747,930
BRUCE A MEYER MD MBA	FORMER KEY EMPLOYEE	0.0		$2,817,454	$18,488	$2,835,942
SRINIVAS PRASAD MD MS	PROFESSOR & PHYSICIAN	55.0	Highest	$59,932	$49,774	$2,686,893
PETER L DEANGELIS JR	FORMER OFFICER	0.0		$2,621,299	$62,405	$2,683,704
JACK JALLO MD PHD	PROFESSOR & PHYSICIAN	55.0	Highest	$318,245	$96,877	$2,660,137
Baligh R YehiaMDMPPMSc	PRESIDENT JEFFERSON HEALTH	55.0	Key Emp	$2,327,969	$10,379	$2,338,348
JOSHUA HELLER MD	PROFESSOR & PHYSICIAN	55.0	Highest	$60,002	$69,848	$2,250,034
ROBERT H ROSENWASSER MD	PROFESSOR & PHYSICIAN	55.0	Highest	$1,775,562	$91,285	$2,148,670
MICHAEL REID GOOCH MD	PROFESSOR & PHYSICIAN	55.0	Highest	$47,997	$64,052	$2,120,533
CRISTINA G CAVALIERI ESQ	SEC - EVP, CHIEF LEGAL COUNSEL	60.0	Officer	$2,011,424	$62,704	$2,074,128
STEPHEN K KLASKO MD MBA	FORMER OFFICER	0.0		$2,015,000	$0	$2,015,000
MARK L TYKOCINSKI MD	FORMER KEY EMPLOYEE	0.0		$1,853,582	$65,726	$1,919,308
MARK M WHALEN	EVP, CSO & CAO	55.0	Officer	$1,227,107	$47,805	$1,274,912
LAURENCE M MERLIS	FORMER KEY EMPLOYEE	0.0		$1,220,433	$18,396	$1,238,829
JOHN P MORDACH	TREASURER - EVP & CFO	60.0	Officer	$1,174,158	$27,717	$1,201,875
CLAYTON FITZHUGH	EVP, CHIEF HR OFF. (TERM 7/23)	55.0	Key Emp	$1,124,607	$49,224	$1,173,831
KATHLEEN GALLAGHER	EVP, COO TJU (TERM 7/23)	55.0	Officer	$1,081,924	$62,638	$1,144,562
MICHAEL B WALSH	SVP, FIN TJU & JH (term 8/23)	55.0	Key Emp	$0	$13,356	$977,109
STEPHEN T SMITH	EVP, CAO	55.0	Key Emp	$879,732	$85,927	$965,659
LISA SATTESON SHRM-SCP	EVP, CHIEF HR OFFicer	55.0	Key Emp	$708,087	$82,356	$790,443
ELIZABETH DALE EDD MPA	FORMER KEY EMPLOYEE	0.0		$537,585	$1,003	$538,588
JOHN C EKARIUS	FORMER KEY EMPLOYEE	0.0		$516,318	$6,851	$523,169
SUSAN C ALDRIDGE PHD	PRESIDENT TJU	55.0	Key Emp	$460,317	$8,669	$468,986
PATRICIA D WELLENBACH	CHAIR - TRUSTEE	5.0	Officer Director	$0	$0	$0
LESLIE J MCNAMARA	VICE CHAIR - TRUSTEE	5.0	Officer Director	$0	$0	$0
MICHAEL E SNEED	VICE CHAIR - TRUSTEE	5.0	Officer Director	$0	$0	$0
ROBERT S ADELSON ESQ	TRUSTEE	5.0	Director	$0	$0	$0
STEPHEN P CRANE	TRUSTEE	5.0	Director	$0	$0	$0
MIMI DRAKE	TRUSTEE	5.0	Director	$0	$0	$0
JOHN J FUNG MD PHD	TRUSTEE	5.0	Director	$0	$0	$0
LEA D KNIGHT	TRUSTEE	5.0	Director	$0	$0	$0
MATTHEW S LEVITTIES	TRUSTEE	5.0	Director	$0	$0	$0
ANDREW J MORRISROE	TRUSTEE	5.0	Director	$0	$0	$0
DEBRA L NESS	TRUSTEE	5.0	Director	$0	$0	$0
TIM O'ROURKE	TRUSTEE	5.0	Director	$0	$0	$0
MELANIE M PENNA	TRUSTEE	5.0	Director	$0	$0	$0
LAWRENCE S REICHLIN	TRUSTEE	5.0	Director	$0	$0	$0
RICHARD T RILEY	TRUSTEE	5.0	Director	$0	$0	$0
RAMONA ROGERS-WINDSOR	TRUSTEE	5.0	Director	$0	$0	$0
RICHARD C SHEERR	TRUSTEE	5.0	Director	$0	$0	$0
JOHN P SILVESTRI	TRUSTEE	5.0	Director	$0	$0	$0
TRISTA M WALKER	TRUSTEE	5.0	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	$1,613,249,283	$1,669,559,679	$5,080,196,016	$-56,310,396
2023	$1,666,137,809	$1,649,493,276	$4,738,692,430	$16,644,533
2022	$1,341,009,086	$1,330,229,702	$4,773,850,575	$10,779,384
2021	$1,370,617,747	$1,321,584,707	$3,656,877,922	$49,033,040
2020	$1,089,489,788	$1,101,399,101	$3,573,425,169	$-11,909,313
2019	$881,372,226	$861,799,983	$3,323,829,633	$19,572,243
2018	$696,876,987	$678,046,402	$2,783,358,881	$18,830,585