University of Notre Dame du Lac

EIN: 350868188 501(c)(3) Education

Notre Dame, IN

Total Revenue
$3,418,676,076
Total Expenses
$2,370,240,201
Total Assets
$29,638,395,911
Net Assets
$24,547,306,740
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1844
Legal Domicile
IN
Phone
5746317575
Tax Period
2024-07-01 to 2025-06-30

University of Notre Dame du Lac, founded in 1844, is a large national nonprofit in the Education sector that reported $3.4B in total revenue in fiscal year 2024. The organization ran a surplus of $1.0B, a strong 31% operating margin.

Mission

THE UNIVERSITY DOES NOT CAPITALIZE THE COST OF LIBRARY BOOKS, NOR THE COST OR FAIR VALUE OF ITS ART COLLECTION. THE LATTER IS HELD FOR EXHIBITION AND EDUCATIONAL PURPOSES ONLY AND NOT FOR FINANCIAL GAIN.

Program Service Accomplishments

Program 1
Expenses: $1,599,291,528 Revenue: $903,021,304

Academic Programs & Research - Provided academic instruction, support services, and public service and research opportunities to over 13,000 undergraduate and graduate students pursuing courses of...

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Academic Programs & Research - Provided academic instruction, support services, and public service and research opportunities to over 13,000 undergraduate and graduate students pursuing courses of study within six undergraduate colleges, a business school, a law school, an architecture school, a school of global affairs, and a graduate school. Instructional services resulted in the conferral of over 3,800 baccalaureate, master's, doctoral, and professional degrees. Academic support services included providing world-class library facilities, the publishing of numerous academic periodicals and volumes, and the operation of a museum of art. Additionally, the University provided students with numerous volunteer opportunities as well as financial support for other non-profit organizations, both directly and through its donor advised fund program. Finally, University researchers administered around 1,400 awards for studies based within the disciplines of engineering, science, and humanities.

Program 2
Expenses: $409,184,075 Revenue: $421,758,083

Auxiliary enterprises - Provided services to the University community, its guests and other patrons including food services, student and visitor lodging, laundry services, event management, and...

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Auxiliary enterprises - Provided services to the University community, its guests and other patrons including food services, student and visitor lodging, laundry services, event management, and multiple recreational facilities. The University intercollegiate athletics program enabled student-athletes to compete in twenty-six sports programs at the NCAA Division I level.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $698,255,626
Program Service Revenue $1,314,818,950
Investment Income $1,389,430,059
Other Revenue $16,171,441
TOTAL REVENUE $3,418,676,076

Expense Breakdown

Grants Paid $576,974,727
Salaries & Benefits $1,060,588,723
Fundraising Expenses $77,162,064
Program Expenses $2,008,475,603
Other Expenses $732,676,751
TOTAL EXPENSES $2,370,240,201

Year-over-Year Comparison

2024 2023 Change
Revenue $3,418,676,076 $3,322,133,874 +0.0%
Expenses $2,370,240,201 $2,168,910,613 +0.1%
Net Income $1,048,435,875 $1,153,223,261 -0.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
39
Independent Members
35
Employees
19482
Volunteers
2122

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
5
$8,702,441
Total Directors
39
$2,937,548
Key Employees
2
$4,394,903
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Rev Robert A Dowd CSC MDiv PhD President, Fellow & Trustee 40.0
Officer Director
$996,513 $21,247 $1,017,760
Anne E Thompson Trustee 2.0
Director
$0 $0 $0
Byron O Spruell Trustee 3.0
Director
$0 $0 $0
Carlos J Betancourt Trustee 2.0
Director
$0 $0 $0
Catherine A Molnar Trustee 2.0
Director
$0 $0 $0
Clare Stack Richer Trustee 2.0
Director
$0 $0 $0
J Christopher Reyes Trustee 3.0
Director
$0 $0 $0
James C Parsons Trustee 2.0
Director
$0 $0 $0
James F Flaherty III Fellow & Trustee 3.0
Director
$0 $0 $0
James J Dunne III Trustee 3.0
Director
$0 $0 $0
Jennifer F Scanlon Trustee 3.0
Director
$0 $0 $0
John B Veihmeyer Fellow & Trustee 4.0
Director
$0 $0 $0
John J Brennan Fellow & Trustee 2.0
Director
$0 $0 $0
John J Coyle Trustee 2.0
Director
$0 $0 $0
Justin R Liu Trustee 2.0
Director
$0 $0 $0
Karen McCartan DeSantis Trustee 2.0
Director
$0 $0 $0
Kathryn A Koch Trustee 2.0
Director
$0 $0 $0
Kenneth C Ricci Trustee 3.0
Director
$0 $0 $0
Lois K Folger Trustee 2.0
Director
$0 $0 $0
Martin W Rodgers Trustee 2.0
Director
$0 $0 $0
Michael G O'Grady Trustee 2.0
Director
$0 $0 $0
Nathan O Hatch Trustee 2.0
Director
$0 $0 $0
Paulita A Pike Trustee 2.0
Director
$0 $0 $0
Phyllis W Stone Trustee 2.0
Director
$0 $0 $0
Raul R Romero Trustee 2.0
Director
$0 $0 $0
Rev Daniel G Groody CSC MDiv PhD VP & Associate Provost, Fellow & Trustee 40.0
Director
$433,927 $21,247 $455,174
Rev Gregory P Haake CSC MDiv PhD Associate Professor, Fellow & Trustee 40.0
Director
$157,532 $21,247 $178,779
Rev John I Jenkins CSC PhD Fellow & Trustee, Former President 40.0
Director
$1,174,889 $110,946 $1,285,835
Rev Jose E Ahumada F CSC Trustee 2.0
Director
$0 $0 $0
Rev Thomas P Looney CSC Fellow & Trustee 2.0
Director
$0 $0 $0
Rev William M Lies CSC Fellow & Trustee 2.0
Director
$0 $0 $0
Ryan M McInerney Trustee 2.0
Director
$0 $0 $0
Sara Martinez Tucker Fellow & Trustee 3.0
Director
$0 $0 $0
Scott A Dahnke Trustee 2.0
Director
$0 $0 $0
Shayla Keough Rumely Fellow & Trustee 2.0
Director
$0 $0 $0
Stephanie A Gallo Fellow & Trustee 3.0
Director
$0 $0 $0
Tanya M Kne Trustee 2.0
Director
$0 $0 $0
Thomas G Maheras Trustee 3.0
Director
$0 $0 $0
Tracy D Graham Trustee 2.0
Director
$0 $0 $0
John T McGreevy PhD Provost 40.0
Officer
$871,472 $131,980 $1,003,452
Marianne Corr JD VP & General Counsel 40.0
Officer
$974,486 $48,272 $1,022,758
Shannon B Cullinan MBA Executive Vice President 40.0
Officer
$1,956,209 $400,075 $2,356,284
Timothy W Dolezal CFA VP & Chief Investment Officer (as of 7/1/2024) 40.0
Officer
$2,294,818 $1,007,369 $3,302,187
John B Swarbrick Jr JD VP & Director of Athletics (until 3/24/24) 40.0
Key Emp
$1,769,853 $250,044 $2,019,897
Peter Bevacqua JD VP & Director of Athletics (as of 3/25/24) 40.0
Key Emp
$2,011,661 $363,345 $2,375,006
Alfred J Golden Defensive Coordinator, Football 40.0
Highest
$2,268,020 $63,862 $2,331,882
Marcus L Freeman Head Coach, Football 40.0
Highest
$8,072,688 $65,260 $8,137,948
Micah W Shrewsberry Head Coach, Men's Basketball 40.0
Highest
$2,237,057 $71,783 $2,308,840
Michael D Donovan JD MBA VP & Chief Investment Officer (until 6/30/24) 40.0
Highest
$3,849,508 $44,251 $3,893,759
Michael F Denbrock Offensive Coordinator, Football 40.0
Highest
$2,428,515 $62,947 $2,491,462
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 $3,418,676,076 $2,370,240,201 $29,638,395,911 $1,048,435,875
2024 $3,322,133,874 $2,168,910,613 $26,690,008,945 $1,153,223,261
2023 $2,590,868,335 $2,046,716,226 $24,762,525,400 $544,152,109
2022 $3,495,548,499 $1,883,298,833 $24,599,540,506 $1,612,249,666
2021 $3,514,539,733 $1,705,430,078 $26,263,144,687 $1,809,109,655
2020 $2,518,434,460 $1,689,125,624 $18,413,618,903 $829,308,836
2019 $2,147,367,576 $1,708,465,004 $17,343,365,261 $438,902,572
2018 $2,542,318,947 $1,679,035,974 $16,574,755,629 $863,282,973
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