DUQUESNE UNIVERSITY OF THE HOLY SP… - Form 990 Financial Data

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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

1878

Legal Domicile

Principal Officer

KENNETH G GORMLEY ESQ

Phone

4123966592

Tax Period

2024-07-01 to 2025-06-30

DUQUESNE UNIVERSITY OF THE HOLY SPIRIT, founded in 1878, is a major nonprofit in the Education sector that reported $535.2M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $507.0M left a modest 5% surplus.

Mission

DUQUESNE SERVES GOD BY SERVING STUDENTS-THROUGH COMMITMENT TO EXCELLENCE IN LIBERAL AND PROFESSIONAL EDUCATION, THROUGH PROFOUND CONCERN FOR MORAL AND SPIRITUAL VALUES, THROUGH THE MAINTENANCE OF AN ECUMENICAL ATMOSPHERE OPEN TO DIVERSITY, AND (CONTINUED ON SCH O) THROUGH SERVICE TO THE CHURCH, COMMUNITY, NATION AND THE WORLD.

Program Service Accomplishments

Program 1

Expenses: $310,147,604 Revenue: $388,167,238

EDUCATIONAL PROGRAMS, GENERAL/OTHER: INSTRUCTION - SCHOOL OF LIBERAL ARTS, BUSINESS ADMINISTRATION, EDUCATION, MUSIC, HEALTH SCIENCES, PHARMACY, LAW, NATURAL AND ENVIRONMENTAL SCIENCES, NURSING...

EDUCATIONAL PROGRAMS, GENERAL/OTHER: INSTRUCTION - SCHOOL OF LIBERAL ARTS, BUSINESS ADMINISTRATION, EDUCATION, MUSIC, HEALTH SCIENCES, PHARMACY, LAW, NATURAL AND ENVIRONMENTAL SCIENCES, NURSING, OSTEOPATHIC MEDICINE (8,282 STUDENTS). (5 FUNDING AGENCIES)

Program 2

Expenses: $72,156,768 Revenue: $48,777,035

AUXILIARY/STUDENT SERVICES: STUDENT SERVICES PROGRAMS, STUDENT SERVICES, INSTITUTIONAL SUPPORT, AND AUXILIARY ENTERPRISES (10,780 STUDENTS AND EMPLOYEES) UNIVERSITY COMMUNITY AND ROOM & BOARD, FOOD...

Program 3

Expenses: $47,451,044 Revenue: $568,064

EDUCATIONAL DELIVERY, ACADEMIC SUPPORT - LIBRARY, DEANS OFFICE, PROVOST OFFICES, CATALOGS, COMMENCEMENT, CLERGY RESIDENCE, INCLUDING 9,253 STUDENTS AND FACULTY. (6 FUNDING AGENCIES)

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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 (2024)

Revenue Breakdown

Contributions & Grants $34,269,529

Program Service Revenue $437,777,922

Investment Income $62,790,076

Other Revenue $399,719

TOTAL REVENUE $535,237,246

Expense Breakdown

Grants Paid $165,476,677

Salaries & Benefits $200,252,558

Fundraising Expenses $4,135,574

Program Expenses $442,935,586

Other Expenses $141,275,873

TOTAL EXPENSES $507,005,108

Year-over-Year Comparison

	2024	2023	Change
Revenue	$535,237,246	$472,572,327	+0.1%
Expenses	$507,005,108	$473,445,268	+0.1%
Net Income	$28,232,138	$-872,941	-33.3%

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

4510

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

$3,598,997

Total Directors

$989,863

Key Employees

$3,122,145

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNETH G GORMLEY	PRESIDENT EX OFFICIO BOARD	55.00	Officer Director	$859,218	$47,539	$906,757
REV RAYMOND FRENCH	SR VP MISSION BOARD EX OFFICIO	55.00	Officer Director	$0	$16,622	$16,622
DIANE S HUPP VICE CHAIR THRU	10/24, CHAIRMAN AS OF 10/24	2.00	Officer Director	$0	$0	$0
JOHN R MCGINLEY JR EXIT 1024	BOARD MEMBER CHAIRMAN	2.00	Officer Director	$0	$0	$0
CHARLES KENNEDY BOARD MEMBER	THRU 10/24, VICE CHAIR AS OF 10/24	2.00	Officer Director	$0	$0	$0
V REV JAMES MCCLOSKEY	SECRETARY OF BOARD	55.00	Officer Director	$0	$16,621	$16,621
REV JOHN FOGARTY ENTER 1024	CORP BOARD CHAIRMAN	2.00	Director	$0	$16,619	$16,619
V REV DONALD MCEACHIN	CORP BOARD CHAIRMAN EXIT 9/24	2.00	Director	$0	$0	$0
REV WILLIAM CHRISTY	CORP BOARD VICE CHAIR EX OFFICIO	2.00	Director	$0	$16,622	$16,622
REV JOHN A SAWICKI	CORP BOARD SECRETARY EX OFFICIO	2.00	Director	$0	$16,622	$16,622
GARY ALETTO ENTER 724	BOARD MEMBER	2.00	Director	$0	$0	$0
GREGORY S BEARD	BOARD MEMBER	2.00	Director	$0	$0	$0
ANTHONY CARFANG	BOARD MEMBER	2.00	Director	$0	$0	$0
SR MARY CARNEY OSF	BOARD MEMBER	2.00	Director	$0	$0	$0
ANNIE H CESTRA	BOARD MEMBER	2.00	Director	$0	$0	$0
JAY COSTA	BOARD MEMBER	2.00	Director	$0	$0	$0
STEVEN M COSTABILE	BOARD MEMBER	2.00	Director	$0	$0	$0
MATTHEW V COSTELLO	BOARD MEMBER	2.00	Director	$0	$0	$0
DANIEL DRAWBRAUGH	BOARD MEMBER	2.00	Director	$0	$0	$0
ENRICO J FRANCANI	BOARD MEMBER	2.00	Director	$0	$0	$0
LINDA EREMITA	BOARD MEMBER	2.00	Director	$0	$0	$0
RODNEY W FINK	BOARD MEMBER	2.00	Director	$0	$0	$0
GREGORY J GERUSON	BOARD MEMBER	2.00	Director	$0	$0	$0
MICHAEL GRACE EXIT 1024	BOARD MEMBER	2.00	Director	$0	$0	$0
KENDRA INGRAM	BOARD MEMBER	2.00	Director	$0	$0	$0
CHARLOTTE S JEFFERIES	BOARD MEMBER	2.00	Director	$0	$0	$0
MARY CLAIRE KASUNIC	BOARD MEMBER	2.00	Director	$0	$0	$0
JON R KINOL	BOARD MEMBER	2.00	Director	$0	$0	$0
WILLIAM LYONS	BOARD MEMBER	2.00	Director	$0	$0	$0
ROBERT I MALLET	BOARD MEMBER	2.00	Director	$0	$0	$0
CHRISTOPHER S MCMAHON	BOARD MEMBER	2.00	Director	$0	$0	$0
BRIAN PARKER	BOARD MEMBER	2.00	Director	$0	$0	$0
JOSEPH ROCKEY	BOARD MEMBER	2.00	Director	$0	$0	$0
HERBERT SHEAR	BOARD MEMBER	2.00	Director	$0	$0	$0
LINDA VARRENTI	BOARD MEMBER	2.00	Director	$0	$0	$0
REV MICHAEL WHITE	BOARD MEMBER	2.00	Director	$0	$0	$0
MATTHEW J FRIST	SR VP FINANCE & BUSINESS	55.00	Officer	$503,201	$98,108	$601,309
DAVID DAUSEY	EXEC PROVOST VP ACADEMIC	55.00	Officer	$392,074	$134,644	$526,718
JOEL BAUMAN	SR VP ENROLLMENT MGMT	55.00	Officer	$274,901	$108,465	$383,366
JAMES MILLER	SR VP OF UNIVERSITY ADV	55.00	Officer	$262,551	$100,921	$363,472
WILLIAM GENERETT JR	SR VP COMMUNITY ENGAGEMENT	55.00	Officer	$273,323	$56,715	$330,038
PAMELA WILKINS	SR VP LEGALAFFAIRS/COUNSEL	55.00	Officer	$280,391	$33,564	$313,955
LEANNA FENNEBERG	SR VP STUDENT LIFE	55.00	Officer	$132,721	$7,418	$140,139
DAVID HARPER	VP OF ATHLETICS	55.00	Key Emp	$393,213	$155,964	$549,177
MARY ELLEN GLASGOW	DEAN, SCHOOL OF NURSING	55.00	Key Emp	$302,485	$39,050	$341,535
DEAN B MCFARLIN	DEAN, BUSINESS SCHOOL	55.00	Key Emp	$274,218	$60,484	$334,702
GABRIEL WELSCH	VP OF MKTG/COMMUNICATION	55.00	Key Emp	$215,733	$118,218	$333,951
FEVZI AKINCI	DEAN, HEALTH SCIENCES	55.00	Key Emp	$273,191	$39,169	$312,360
JAMES K DRENNEN	DEAN, SCHOOL OF PHARMACY	55.00	Key Emp	$249,221	$47,882	$297,103
CHARLES BARTEL	VP IT AND CIO	55.00	Key Emp	$219,447	$33,098	$252,545
ELLEN GAWALT	DEAN, SCHOOL OF ENGINEERING	55.00	Key Emp	$218,756	$27,536	$246,292
KRISTINE BLAIR	DEAN, SCHOOL LIBERAL ARTS	55.00	Key Emp	$223,136	$21,642	$244,778
DANIEL GILMAN	CHIEF OF STAFF	55.00	Key Emp	$189,597	$20,105	$209,702
MATTHEW ROZYCZKA	CHIEF INVESTMENT OFFICER	55.00	Highest	$540,594	$123,712	$664,306
JAMES DRU JOYCE	HEAD COACH MEN BASKETBALL	55.00	Highest	$463,576	$38,733	$502,309
JOHN KAUFFMAN	DEAN, OSTEOPATHIC MEDICINE	55.00	Highest	$462,183	$31,176	$493,359
DANIEL BURT	HEAD COACH W BASKETBALL	55.00	Highest	$286,433	$66,450	$352,883
ALEEM GANGJEE	PROFESSOR PHARMACY	55.00	Highest	$276,192	$23,765	$299,957
DOUGLAS FRIZZELL EXIT 624	FORMER OFFICER	55.00		$364,561	$19,963	$384,524
KEITH DAMBROT	FORMER HIGHEST PD	55.00		$1,455,480	$18,805	$1,474,285

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	$535,237,246	$507,005,108	$1,256,472,249	$28,232,138
2024	$472,572,327	$473,445,268	$1,161,262,130	$-872,941
2023	$543,326,738	$438,489,939	$1,090,118,452	$104,836,799
2022	$474,135,728	$424,709,981	$1,039,124,199	$49,425,747
2021	$444,411,178	$431,300,772	$1,037,258,014	$13,110,406
2020	$434,180,406	$422,073,851	$869,263,663	$12,106,555
2019	$507,257,046	$420,837,526	$869,320,794	$86,419,520
2018	$430,801,713	$408,599,165	$745,632,090	$22,202,548

DUQUESNE UNIVERSITY OF THE HOLY SPIRIT