DePauw 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

1837

Legal Domicile

Phone

7656584800

Tax Period

2022-07-01 to 2023-06-30

DePauw University, founded in 1837, is a major nonprofit in the Education sector that reported $215.8M in total revenue in fiscal year 2022. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $185.6M left a modest 14% surplus.

Mission

DePauw University develops leaders the world needs through an uncommon commitment to the liberal arts. DePauw's diverse and inclusive learning and living experience, distinctive in its rigorous intellectual engagement and its global and experiential learning opportunities, leads to a life of meaning and means. DePauw prepares graduates who support and create positive change in their communities and the world.

Program Service Accomplishments

Program 1

Expenses: $168,915,115 Revenue: $109,442,867

Depauw University is a nationally-recognized, leading liberal arts college in Greencastle, Indiana, dedicated to educating 1,820 students from across the country and around the globe. Connected to...

Depauw University is a nationally-recognized, leading liberal arts college in Greencastle, Indiana, dedicated to educating 1,820 students from across the country and around the globe. Connected to the liberal arts college is one of the nation's first schools of music. For 186 years, DePauw has created an atmosphere of intellectual challenge and social engagement that prepares students for lifelong success. Academic exploration at DePauw pushes students to gain broad exposure to multiple disciplines before narrowing their focus. DePauw offers dozens of majors and minors, a handful of honors and fellows programs, and a set of experiential learning opportunities that challenge students within and beyond the classroom. Building networks has never been more important than it is right now. At DePauw, students make connections through student-run clubs and organizations, NCAA Division III athletics and recreational sports, fraternities and sororities, and service organizations. DePauw alumni go on to careers in academia, medicine, law, music, finance, education, and numerous other fields. They are surgeons, actors, legal advocates, astronauts, and environmental activists. DePauw takes pride in having given each one the confidence to take risks and the tools to realize their goals.

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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 $60,289,367

Program Service Revenue $109,251,002

Investment Income $39,934,905

Other Revenue $6,335,589

TOTAL REVENUE $215,810,863

Expense Breakdown

Grants Paid $65,362,586

Salaries & Benefits $54,178,844

Fundraising Expenses $3,532,076

Program Expenses $168,915,115

Other Expenses $66,033,077

TOTAL EXPENSES $185,632,708

Year-over-Year Comparison

	2022	2021	Change
Revenue	$215,810,863	$197,947,778	+0.1%
Expenses	$185,632,708	$176,852,787	+0.0%
Net Income	$30,178,155	$21,094,991	+0.4%

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

1601

Volunteers

144

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

$2,118,129

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
N/A	Trustee	1.0	Officer Director	$0	$0	$0
N/A	Board Secretary, Trustee	1.0	Officer Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Board Chair, Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Trustee	1.0	Director	$0	$0	$0
N/A	Vice President for Finance and Administration (BEGINNING 7/15/2022)	55.0	Officer	$128,794	$25,214	$154,008
N/A	Vice President for Development and Alumni Engagement (through 10/20/23)	55.0	Officer	$249,042	$34,071	$283,113
N/A	Vice President for Academic Affairs	55.0	Officer	$236,900	$36,879	$273,779
N/A	Vice President for Institutional Equity (BEGINNING 6/15/22)	55.0	Officer	$125,734	$19,193	$144,927
N/A	Vice President for Student Affairs and Dean of Students (BEGINNING 8/1/22)	55.0	Officer	$99,533	$20,027	$119,560
N/A	President	55.0	Officer	$540,714	$148,724	$689,438
N/A	Vice President for Enrollment Management	55.0	Officer	$200,720	$48,218	$248,938
N/A	Vice President for Communications (BEGINNING 7/1/22)	55.0	Officer	$165,504	$38,862	$204,366
N/A	Dean of Student Academic Success and Equity	55.0	Highest	$216,433	$28,239	$244,672
N/A	CIO	55.0	Highest	$159,202	$45,054	$204,256
N/A	Professor of Economics and Management	55.0	Highest	$189,412	$47,077	$236,489
N/A	Professor of Econ and Management and Dir of Management Fellows	55.0	Highest	$162,283	$108,205	$270,488
N/A	Exec Dir of Center for Stu Eng and Dir of Center for Mgmt and Entrepreneurship	55.0	Highest	$156,302	$39,423	$195,725
N/A	VP for Student Academic Life (through 6/30/22)	0.0		$102,203	$9,483	$111,686
N/A	Former President	0.0		$183,612	$0	$183,612
N/A	VP for Communications and Marketing (through 6/30/22)	0.0		$106,040	$31,292	$137,332
N/A	VP for Finance and Administration (through 6/30/22)	0.0		$135,687	$10,815	$146,502

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	$215,810,863	$185,632,708	$1,147,698,639	$30,178,155
2022	$197,947,778	$176,852,787	$1,096,715,482	$21,094,991
2021	$191,010,740	$160,784,484	$1,175,395,994	$30,226,256
2020	$170,125,801	$181,130,904	$1,044,669,443	$-11,005,103
2019	$185,003,992	$186,530,077	$1,062,376,504	$-1,526,085
2018	$200,711,825	$181,502,185	$1,060,604,993	$19,209,640