DEPAUL 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

1898

Legal Domicile

Principal Officer

ROBERT MANUEL

Phone

3123627150

Tax Period

2022-07-01 to 2023-06-30

DEPAUL UNIVERSITY, founded in 1898, is a major nonprofit in the Education sector that reported $848.4M in total revenue in fiscal year 2022.

Mission

AS AN INNOVATIVE CATHOLIC, VINCENTIAN UNIVERSITY ANCHORED IN THE GLOBAL CITY OF CHICAGO, DEPAUL SUPPORTS THE INTEGRAL HUMAN DEVELOPMENT OF ITS STUDENTS. THE UNIVERSITY DOES SO THROUGH ITS COMMITMENT TO OUTSTANDING TEACHING, ACADEMIC EXCELLENCE, (CONTINUED IN SCHEDULE O)

Program Service Accomplishments

Program 1

Expenses: $254,400,265 Revenue: $726,200,407

INSTRUCTION - FALL ENROLLMENT FOR THE 2022/23 ACADEMIC YEAR TOTALED 21,348, MAKING DEPAUL THE NATION'S LARGEST CATHOLIC UNIVERSITY FOR THE TWENTIETH CONSECUTIVE YEAR. THE ABOVE TOTAL INCLUDED 14,374 UNDERGRADUATE STUDENTS AND 6,974 GRADUATE AND PROFESSIONAL STUDENTS. OF THE UNIVERSITY'S TOTAL ENROLLMENT, FOR THE 2022/23 ACADEMIC YEAR, APPROXIMATELY 44% WERE STUDENTS OF COLOR AND APPROXIMATELY 55% WERE WOMEN. THE UNIVERSITY OFFERED NEARLY 300 COMPREHENSIVE AND INNOVATIVE UNDERGRADUATE AND GRADUATE PROGRAMS DURING THE 2022/23 ACADEMIC YEAR, ALONG WITH A BROAD CURRICULUM FOR ADULT CONTINUING EDUCATION.

Program 2

Expenses: $314,497,131

STUDENT AND OTHER FINANCIAL AID - THIS CATEGORY INCLUDES EXPENDITURES FOR ALL FORMS OF INSTITUTIONAL AID AND ACCOUNTED FOR APPROXIMATELY 36% OF TOTAL UNIVERSITY EXPENSES, MAKING IT SECOND ONLY TO...

STUDENT AND OTHER FINANCIAL AID - THIS CATEGORY INCLUDES EXPENDITURES FOR ALL FORMS OF INSTITUTIONAL AID AND ACCOUNTED FOR APPROXIMATELY 36% OF TOTAL UNIVERSITY EXPENSES, MAKING IT SECOND ONLY TO SALARIES AND BENEFITS AS THE LARGEST EXPENDITURE CATEGORY IN TERMS OF BOTH PERCENTAGE AND DOLLARS. OVER $299 MILLION OF THE TOTAL EXPENDITURES REPRESENTED AID, WHICH PROVIDED FINANCIAL ASSISTANCE TO THE UNIVERSITY'S STUDENTS DURING THE ACADEMIC YEAR. IN ADDITION, THE ABOVE TOTAL ALSO INCLUDES OVER $10 MILLION IN AID TO UNIVERSITY FACULTY AND STAFF, INCLUDING THEIR SPOUSES AND DEPENDENTS, IN THE FORM OF EMPLOYEE TUITION WAIVERS, WHICH ARE PROVIDED AS PART OF A WRITTEN BENEFITS PROGRAM AVAILABLE TO ALL QUALIFYING UNIVERSITY EMPLOYEES.

Program 3

Expenses: $72,903,322 Revenue: $333,311

STUDENT SERVICES - THIS CATEGORY CONSISTS OF STUDENT RELATED EXPENDITURES OTHER THAN THOSE RELATED TO INSTRUCTION, INCLUDE GRADUATION AND ADVERTISING EXPENSES. EXPENSES RELATED TO OFFICES THAT...

STUDENT SERVICES - THIS CATEGORY CONSISTS OF STUDENT RELATED EXPENDITURES OTHER THAN THOSE RELATED TO INSTRUCTION, INCLUDE GRADUATION AND ADVERTISING EXPENSES. EXPENSES RELATED TO OFFICES THAT SUPPORT THE UNIVERSITY'S STUDENTS, SUCH AS THE UNIVERSITY'S ENROLLMENT MANAGEMENT OFFICE, UNIVERSITY MINISTRY, CAREER CENTER, STUDENT AFFAIRS, FINANCIAL AID OFFICE, REGISTRAR, AND STUDENT LIFE OFFICES ARE ALSO INCLUDED IN THIS CATEGORY.

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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 $44,147,258

Program Service Revenue $772,917,260

Investment Income $26,804,500

Other Revenue $4,486,968

TOTAL REVENUE $848,355,986

Expense Breakdown

Grants Paid $315,340,469

Salaries & Benefits $357,823,849

Fundraising Expenses $16,871,567

Program Expenses $778,947,954

Other Expenses $201,105,075

TOTAL EXPENSES $874,464,149

Year-over-Year Comparison

	2022	2021	Change
Revenue	$848,355,986	$889,340,745	0.0%
Expenses	$874,464,149	$822,310,067	+0.1%
Net Income	$-26,108,163	$67,030,678	-1.4%

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

8469

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

$7,280,417

Total Directors

$1,552,795

Key Employees

$1,917,851

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR ROBERT MANUEL	PRESIDENT & TRUSTEE (BEG 8/1/22)	50.00	Officer Director	$334,284	$67,146	$401,430
A GABRIEL ESTEBAN PHD	PRESIDENT & TRUSTEE (THRU 8/12/22)	50.00	Officer Director	$1,033,057	$118,308	$1,151,365
MS SASHA L GERRITSON	VICE CHAIR	1.00	Director	$0	$0	$0
MR MICHAEL SCUDDER	VICE CHAIR	1.00	Director	$0	$0	$0
MR GERALD A BEESON	CHAIR & TRUSTEE	1.00	Officer Director	$0	$0	$0
MR MICHAEL DE ANDA	TRUSTEE	1.00	Director	$0	$0	$0
MR PETER C ARGIANAS	TRUSTEE	1.00	Director	$0	$0	$0
MS KAREN M ATWOOD	TRUSTEE	1.00	Director	$0	$0	$0
MR JOHN L BRENNAN	TRUSTEE	1.00	Director	$0	$0	$0
MS STEPHANIE BRYAN-KANGAS	TRUSTEE	1.00	Director	$0	$0	$0
MR MICHAEL CANNING	TRUSTEE (BEG 9/28/22)	1.00	Director	$0	$0	$0
MR TIMOTHY S CRANE	TRUSTEE	1.00	Director	$0	$0	$0
MR SEBASTIAN S CUALOPING	TRUSTEE	1.00	Director	$0	$0	$0
MR CHRISTOPHER DEL MORAL-NILES	TRUSTEE	1.00	Director	$0	$0	$0
MS THERESE FAUERBACH	TRUSTEE	1.00	Director	$0	$0	$0
MR MANUEL FAVELA	TRUSTEE	1.00	Director	$0	$0	$0
SR MARGARET MARY FITZPATRICK	TRUSTEE	1.00	Director	$0	$0	$0
MS JENNIFER FORTNER	TRUSTEE	1.00	Director	$0	$0	$0
MS JUDITH P GREFFIN	TRUSTEE	1.00	Director	$0	$0	$0
MR ARISTOTLE P HALIKIAS	TRUSTEE	1.00	Director	$0	$0	$0
MR HARRY J HARCZAK	TRUSTEE	1.00	Director	$0	$0	$0
DR DONALD HELLER	TRUSTEE	1.00	Director	$0	$0	$0
MR ROBERTO R HERENCIA	TRUSTEE	1.00	Director	$0	$0	$0
MS STACY JANIAK	TRUSTEE	1.00	Director	$0	$0	$0
MR KEVIN KEELEY	TRUSTEE (BEG 9/28/22)	1.00	Director	$0	$0	$0
MR JOHN KERR	TRUSTEE	1.00	Director	$0	$0	$0
MR DEMETRIOS G LOGOTHETIS	TRUSTEE	1.00	Director	$0	$0	$0
REV JAMES J MAHER CM	TRUSTEE	1.00	Director	$0	$0	$0
DR JOSEPH R MARBACH	TRUSTEE	1.00	Director	$0	$0	$0
REV PATRICK J MCDEVITT CM	TRUSTEE	1.00	Director	$0	$0	$0
MS CARLA R MICHELOTTI	TRUSTEE	1.00	Director	$0	$0	$0
MR MALIK MURRAY	TRUSTEE (BEG 12/5/22)	1.00	Director	$0	$0	$0
MS HAYDEE OLINGER	TRUSTEE	1.00	Director	$0	$0	$0
MS CLAIR O'GRADY	TRUSTEE	1.00	Director	$0	$0	$0
REV MARK S PRANAITIS CM	TRUSTEE	1.00	Director	$0	$0	$0
DR ANNE M PRISCO	TRUSTEE	1.00	Director	$0	$0	$0
MS ANNA RICHO	TRUSTEE	1.00	Director	$0	$0	$0
MR LARRY R ROGERS SR	TRUSTEE	1.00	Director	$0	$0	$0
MR BERTRAM L SCOTT	TRUSTEE	1.00	Director	$0	$0	$0
MR JOSEPH SKENDER	TRUSTEE	1.00	Director	$0	$0	$0
MS JENNIFER W STEANS	TRUSTEE	1.00	Director	$0	$0	$0
MS DONNA THOMPSON	TRUSTEE	1.00	Director	$0	$0	$0
MS DIA S WEIL	TRUSTEE	1.00	Director	$0	$0	$0
MS RUTH WILLIAMS-BRINKLEY	TRUSTEE	1.00	Director	$0	$0	$0
MS KATHY STIEBER	VP, GENERAL COUNSEL & SECRETARY	50.00	Officer	$373,593	$39,559	$413,152
MR ARBIN SMITH	VP SI, CHIEF OF STAFF (BEG 11/1/22)	50.00	Officer	$105,792	$1,497	$107,289
MR EUGENE ZDZIARSKI PHD	VP FOR STUDENT AFFAIRS	50.00	Officer	$354,089	$50,867	$404,956
MS LINDA BLAKLEY	VP FOR PUBLIC RELATIONS	50.00	Officer	$324,844	$39,559	$364,403
REV GUILLERMO CAMPUZANO CM	VP FOR MISSION AND VALUES	50.00	Officer	$184,747	$55,262	$240,009
MS ELIZABETH F ORTIZ EDD	VP FOR INST. DIVERSITY AND EQUITY	50.00	Officer	$236,554	$32,510	$269,064
MS STEPHANIE SMITH	VP FOR HUMAN RESOURCES	50.00	Officer	$330,895	$50,867	$381,762
MR RICHARD WILTSE	VP FOR FACILITY OPS (BEG 11/1/22)	50.00	Officer	$222,098	$49,215	$271,313
MR ROBERT JANIS	VP FOR FACILITY OPS (THRU 10/31/22)	50.00	Officer	$491,806	$38,804	$530,610
MR SOUMITRA GHOSH	VP FOR ENROLLMENT MANAGEMENT	50.00	Officer	$335,256	$50,867	$386,123
MS LORI SMEDLEY	VP FOR ADVANCEMENT (INTERIM)	50.00	Officer	$298,724	$38,475	$337,199
MR ROBERT MCCORMICK	VP FOR INFORMATION SERVICES	50.00	Officer	$343,054	$58,551	$401,605
MR BRIAN SULLIVAN	TREASURER	50.00	Officer	$268,559	$45,752	$314,311
MS SALMA GHANEM	PROVOST	50.00	Officer	$510,760	$39,933	$550,693
MS SHERRI SIDLER	EXECUTIVE VP	50.00	Officer	$452,460	$47,612	$500,072
MS JO SMITH	CONTROLLER	50.00	Officer	$220,771	$33,790	$254,561
REV DENNIS HOLTSCHNEIDER CM	CHANCELLOR	1.00	Officer	$500	$0	$500
MR GUILLERMO VASQUEZ DE VELASCO	DEAN, LA&S	50.00	Key Emp	$366,298	$50,867	$417,165
MS SULIN BA	DEAN, DRIEHAUS COLLEGE (BEG 7/1/22)	50.00	Key Emp	$204,408	$24,506	$228,914
MS STEPHANIE DANCE-BARNES	DEAN, COLLEGE OF SCIENCE AND HEALTH	50.00	Key Emp	$277,165	$46,943	$324,108
MR DEWAYNE PEEVY	ATHLETICS DIRECTOR	50.00	Key Emp	$473,599	$58,551	$532,150
MR DAVID MILLER	DEAN, COMPUTER SCIENCE (THRU 6/30/23)	50.00	Key Emp	$364,647	$50,867	$415,514
MR RICHARD BRUNO	WOMEN'S HEAD BASKETBALL COACH	50.00	Highest	$548,082	$50,867	$598,949
MR JAMES SHILLING	PROFESSOR	50.00	Highest	$420,076	$50,867	$470,943
MR ANTHONY STUBBLEFIELD	MEN'S HEAD BASKETBALL COACH	50.00	Highest	$1,534,409	$40,090	$1,574,499
MS JENNIFER PEREA	DEAN, COLLEGE OF LAW	50.00	Highest	$463,603	$9,059	$472,662
MR ORLANDO RANSON	ASST. MEN'S BASKETBALL COACH	50.00	Highest	$421,443	$14,579	$436,022
MR DAN ALLEN PHD	VP FOR ADVANCEMENT (THRU 4/9/22)	50.00		$145,658	$21,691	$167,349
MR STEVE STOUTE JD	VP SI & CHIEF OF STAFF (THRU 6/4/22)	50.00		$105,745	$9,850	$115,595
MS TONYA BAEZ	INTERIM TREASURER	50.00		$116,190	$21,921	$138,111
MS MISTY JOHANSON	DEAN, DRIEHAUS COLLEGE OF BUSINESS	0.00		$303,701	$47,885	$351,586
MS DORTHY KOZLOWSKI	INTERIM DEAN, SCIENCE AND HEALTH	0.00		$113,195	$39,679	$152,874
MR THOMAS DONLEY	INTERIM DEAN, DRIEHAUS COLLEGE OF BUSINESS	0.00		$287,333	$31,524	$318,857

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	$848,355,986	$874,464,149	$1,823,700,020	$-26,108,163
2022	$889,340,745	$822,310,067	$1,799,315,702	$67,030,678
2021	$868,047,140	$773,703,489	$1,952,881,623	$94,343,651
2020	$903,291,560	$795,777,740	$1,757,707,866	$107,513,820
2019	$827,706,516	$796,973,882	$1,705,651,334	$30,732,634
2018	$841,982,047	$765,946,937	$1,690,048,598	$76,035,110