DENISON 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

1832

Legal Domicile

Principal Officer

ADAM S WEINBERG

Phone

7405876679

Tax Period

2022-07-01 to 2023-06-30

DENISON UNIVERSITY, founded in 1832, is a major nonprofit in the Education sector that reported $265.4M in total revenue in fiscal year 2022. Expenses of $254.9M left a modest 4% surplus.

Mission

ART COLLECTION FINANCIAL STATEMENT FOOTNOTE: ART COLLECTION - THE UNIVERSITY'S MUSEUM AND LIBRARY HOUSE NUMEROUS WORKS OF ART, HISTORICAL TREASURES, LITERARY WORKS AND ARTIFACTS. THESE COLLECTIONS ARE PROTECTED FOR PUBLIC EXHIBITION, EDUCATION AND RESEARCH. THEY ARE NEITHER DISPOSED OF FOR FINANCIAL GAIN NOR ENCUMBERED IN ANY MANNER. ACCORDINGLY, SUCH COLLECTIONS ARE NOT RECORDED FOR FINANCIAL STATEMENT PURPOSES.

Program Service Accomplishments

Program 1

Expenses: $223,259,930 Revenue: $180,904,982

OUR PURPOSE IS TO INSPIRE AND EDUCATE OUR STUDENTS TO BECOME AUTONOMOUS THINKERS, DISCERNING MORAL AGENTS AND ACTIVE CITIZENS OF A DEMOCRATIC SOCIETY. THROUGH AN EMPHASIS ON ACTIVE LEARNING, WE...

OUR PURPOSE IS TO INSPIRE AND EDUCATE OUR STUDENTS TO BECOME AUTONOMOUS THINKERS, DISCERNING MORAL AGENTS AND ACTIVE CITIZENS OF A DEMOCRATIC SOCIETY. THROUGH AN EMPHASIS ON ACTIVE LEARNING, WE ENGAGE STUDENTS IN THE LIBERAL ARTS, WHICH FOSTERS SELF-DETERMINATION AND DEMONSTRATES THE TRANSFORMATIVE POWER OF EDUCATION. WE PROVIDE UNDERGRADUATE PROGRAMS OF INSTRUCTION TO APPROXIMATELY 2,400 STUDENTS. STUDENTS ARE OFFERED APPROXIMATELY 65 MAJORS, CONCENTRATIONS AND PROGRAMS OF STUDY. SCHOLARSHIPS AND GRANTS ARE PROVIDED BASED ON MERIT AND ECONOMIC NEED. THE UNIVERSITY ALSO PROVIDES SERVICES TO STUDENTS INCLUDING COUNSELING AND PROGRAMS IN THE AREAS OF ADMISSIONS, STUDENT AID, STUDENT EMPLOYMENT, STUDENT ACTIVITIES, REGISTRATION, AND STUDENT LIFE.

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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 $29,312,291

Program Service Revenue $186,653,224

Investment Income $50,036,867

Other Revenue $-618,940

TOTAL REVENUE $265,383,442

Expense Breakdown

Grants Paid $77,834,141

Salaries & Benefits $96,837,676

Fundraising Expenses $6,212,674

Program Expenses $223,259,930

Other Expenses $80,185,580

TOTAL EXPENSES $254,857,397

Year-over-Year Comparison

	2022	2021	Change
Revenue	$265,383,442	$275,909,448	0.0%
Expenses	$254,857,397	$224,280,076	+0.1%
Net Income	$10,526,045	$51,629,372	-0.8%

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

2582

Volunteers

1800

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

$2,160,843

Total Directors

Key Employees

$1,543,880

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAMES L ANDERSON '85	TRUSTEE	1.00	Director	$0	$0	$0
GEORGE W BODENHEIMER '80	TRUSTEE	1.00	Director	$0	$0	$0
CYNTHIA OOTEN BOOTH '79	TRUSTEE	1.00	Director	$0	$0	$0
ASHLEY EDWARDS BRADLEY '93	TRUSTEE	1.00	Director	$0	$0	$0
DANIEL J BRICKMAN '80	TRUSTEE	1.00	Director	$0	$0	$0
LISA M COLEMAN '88	TRUSTEE	1.00	Director	$0	$0	$0
MARCUS COLWELL '84	TRUSTEE	1.00	Director	$0	$0	$0
KATHRYN CORREIA '79	TRUSTEE	1.00	Director	$0	$0	$0
BEN CROSS '20	TRUSTEE	1.00	Director	$0	$0	$0
FATIMAH ELGHAZAWI '21	TRUSTEE	1.00	Director	$0	$0	$0
H TIMOTHY EWING '89	TRUSTEE	1.00	Director	$0	$0	$0
JEREMY FLUG '83	TRUSTEE	1.00	Director	$0	$0	$0
KRISTEN FITZWILLIAM GIARRUSSO '84	VICE CHAIR/TREASURER	1.00	Officer Director	$0	$0	$0
JAMES T GLERUM JR '82	TRUSTEE	1.00	Director	$0	$0	$0
LAUREN STANIAR HAARLOW '90	TRUSTEE	1.00	Director	$0	$0	$0
MATTHEW J HARRINGTON '84	TRUSTEE	1.00	Director	$0	$0	$0
JERYL HAYES '04	TRUSTEE	1.00	Director	$0	$0	$0
JEFF JOHNSON '81	TRUSTEE	1.00	Director	$0	$0	$0
RICHARD A KIENZLE '85	TRUSTEE	1.00	Director	$0	$0	$0
SUZANNE B KRISCUNAS '72	TRUSTEE	1.00	Director	$0	$0	$0
MARC B LAUTENBACH '83	VICE CHAIR	1.00	Officer Director	$0	$0	$0
ERIC LINDBERG '93	TRUSTEE	1.00	Director	$0	$0	$0
DOUGLAS W MABIE '86	TRUSTEE	1.00	Director	$0	$0	$0
JEFFREY MASTEN '86	TRUSTEE	1.00	Director	$0	$0	$0
AMY TODD MIDDLETON '93	TRUSTEE	1.00	Director	$0	$0	$0
WILLIAM C MULLIGAN '76	TRUSTEE	1.00	Director	$0	$0	$0
STEPHEN POLK '78	TRUSTEE	1.00	Director	$0	$0	$0
ABIGAIL E PRINGLE '96	TRUSTEE	1.00	Director	$0	$0	$0
VIVIAN QUAYE '03	TRUSTEE	1.00	Director	$0	$0	$0
GEORGE V RUSSELL '88	TRUSTEE	1.00	Director	$0	$0	$0
LEWIS A SACHS '85	CHAIR	1.00	Officer Director	$0	$0	$0
ARTHUR P STEINMETZ JR '80	TRUSTEE	1.00	Director	$0	$0	$0
THOMAS E SZYKOWNY '79	TRUSTEE	1.00	Director	$0	$0	$0
G JACKSON TANKERSLEY JR '72	TRUSTEE	1.00	Director	$0	$0	$0
GREGORY N TAYLOR	TRUSTEE	1.00	Director	$0	$0	$0
JAMIE K THORSEN '77	TRUSTEE	1.00	Director	$0	$0	$0
RAYSHON WALKER '22	TRUSTEE	1.00	Director	$0	$0	$0
SUSAN D WHITING '78	TRUSTEE	1.00	Director	$0	$0	$0
ADAM S WEINBERG	PRESIDENT	40.00	Officer	$692,283	$346,508	$1,038,791
DAVID A ENGLISH	VP FINANCE & MGMT	40.00	Officer	$327,882	$56,647	$384,529
ALEXANDRA T SCHIMMER	SECRETARY&GENERAL COUNSEL	40.00	Officer	$319,295	$50,983	$370,278
KIMBERLY A COPLIN	PROVOST	40.00	Officer	$299,049	$68,196	$367,245
KATHLEEN R BROWNE	CHIEF INVESTMENT OFFICER	40.00	Key Emp	$736,431	$110,437	$846,868
GREGORY R BADER	VP INSTIUTIONAL ADVANCEMEN	40.00	Key Emp	$312,327	$43,651	$355,978
GREGORY W SNEED	VP ENROLLMENT MGMT	40.00	Key Emp	$274,731	$66,303	$341,034
ALEXANDER R MILLER	VP STUDENT DEVELOPMENT	40.00	Highest	$249,718	$42,777	$292,495
JOSHUA M BEITZEL	MANAGING DIR.OF INVESTMENTS	40.00	Highest	$261,121	$68,173	$329,294
DAVID O WOODYARD	PROFESSOR	40.00	Highest	$246,482	$23,736	$270,218
JULIA CROSBY	MANAGING DIR.OF INVESTMENTS	40.00	Highest	$353,895	$10,452	$364,347
ELIZABETH ECKHARDT	VP UNIV.COMMUN.&BRANDING	40.00	Highest	$239,296	$59,608	$298,904

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	No data	No data	No data	No data
2023	$265,383,442	$254,857,397	$1,463,954,073	$10,526,045
2022	$275,909,448	$224,280,076	$1,502,847,785	$51,629,372
2021	$297,443,289	$208,062,501	$1,706,364,119	$89,380,788
2020	$248,509,652	$202,991,198	$1,411,393,687	$45,518,454
2019	$213,251,671	$200,397,127	$1,357,579,565	$12,854,544
2018	$255,577,046	$193,391,707	$1,277,374,789	$62,185,339