Grand Canyon 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

2014

Legal Domicile

Phone

8554285673

Tax Period

2024-07-01 to 2025-06-30

Grand Canyon University, founded in 2014, is a large national nonprofit in the Education sector that reported $2.0B in total revenue in fiscal year 2024.

Mission

GCU is a missional, Christ-centered university with an innovative and adaptive spirit that addresses the world's deep needs by cultivating compassionate Christian community, empowering free and virtuous action, and serving others in ways that promote human flourishing. Through academic excellence, the university equips students with knowledge of the Christian worldview, instilling in them a sense of purpose and vocational calling that enables them to be innovative thinkers, effective communicators, global contributors, and transformative leaders who change their communities by placing the interests of others before their own.

Program Service Accomplishments

Program 1

Expenses: $1,917,015,425 Revenue: $1,958,523,555

INSTRUCTIONAL PROGRAM SERVICES - INSTRUCTIONAL PROGRAM SERVICES INCLUDE ALL ACTIVITIES DIRECTLY TIED TO THE EDUCATIONAL SERVICES PROVIDED BY THE UNIVERSITY. GCU HAS APPROXIMATELY 123,000 ENROLLED...

INSTRUCTIONAL PROGRAM SERVICES - INSTRUCTIONAL PROGRAM SERVICES INCLUDE ALL ACTIVITIES DIRECTLY TIED TO THE EDUCATIONAL SERVICES PROVIDED BY THE UNIVERSITY. GCU HAS APPROXIMATELY 123,000 ENROLLED STUDENTS (ON CAMPUS AND ONLINE) IN UNDERGRADUATE, GRADUATE, AND DOCTORAL LEVEL PROGRAMS. GCU PROVIDES SCHOLARSHIPS, GRANTS, AND OTHER FINANCIAL ASSISTANCE TO ELIGIBLE STUDENTS BASED ON FINANCIAL NEED AND ACADEMIC MEASURES.

Program 2

Expenses: $12,211,485 Revenue: $15,836,603

AUXILIARY ENTERPRISES - AUXILIARY ENTERPRISES REPRESENT VARIOUS BUSINESS UNITS THAT OPERATE TO ENHANCE THE EDUCATIONAL EXPERIENCE OF THE UNIVERSITY'S STUDENTS, INCLUDING AN ARENA, HOTEL, RESTAURANTS...

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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 $12,192,100

Program Service Revenue $1,974,360,158

Investment Income $22,850,607

Other Revenue $522,706

TOTAL REVENUE $2,009,925,571

Expense Breakdown

Grants Paid $386,098,916

Salaries & Benefits $304,890,034

Fundraising Expenses $2,561,585

Program Expenses $1,929,226,910

Other Expenses $1,283,196,379

TOTAL EXPENSES $1,974,185,329

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,009,925,571	$1,870,735,835	+0.1%
Expenses	$1,974,185,329	$1,836,959,828	+0.1%
Net Income	$35,740,242	$33,776,007	+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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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

12802

Volunteers

796

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

$2,831,579

Total Directors

$185,212

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Fred Miller	Chairman of the Board	0.5	Officer Director	$10,000	$0	$10,000
Dave Donaldson	Director (Term 04/2025)	0.5	Director	$2,500	$0	$2,500
Jerry Colangelo	Director	0.5	Director	$127,712	$0	$127,712
Jim Rice	Director	0.5	Director	$10,000	$0	$10,000
Lupita Hightower	Director	0.5	Director	$10,000	$0	$10,000
Marion Kelly	Director	0.5	Director	$10,000	$0	$10,000
Mike Ingram	Director	0.5	Director	$2,500	$0	$2,500
Peggy Chase	Director	0.5	Director	$10,000	$0	$10,000
Shawn Boskie	Director	0.5	Director	$2,500	$0	$2,500
Brian Mueller	President	20.0	Officer	$799,495	$0	$799,495
Junette West	CFO/Treasurer	40.0	Officer	$483,772	$178,146	$661,918
Randall Gibb	Provost	40.0	Officer	$606,652	$175,815	$782,467
Raymond Kaselonis	CAO/General Counsel/Secretary	40.0	Officer	$394,537	$183,162	$577,699
Bryce Drew	Head Basketball Coach	40.0	Highest	$1,726,205	$5,037	$1,731,242
Jennifer Lech	Vice Provost	40.0	Highest	$539,497	$183,212	$722,709
Kenneth Wooden	Dean, College of Natural Sciences	40.0	Highest	$382,332	$142,159	$524,491
Taylor Gober	VP for Advancement	40.0	Highest	$386,032	$5,162	$391,194
Timothy Griffin	Dean of Students	40.0	Highest	$416,762	$178,146	$594,908
Daniel Majerle	Former Head Basketball Coach	0.0		$1,000,000	$0	$1,000,000

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	$2,009,925,571	$1,974,185,329	$2,090,273,231	$35,740,242
2024	$1,870,735,835	$1,836,959,828	$2,047,713,640	$33,776,007
2023	$1,688,317,236	$1,665,639,619	$2,029,077,541	$22,677,617
2022	$1,645,639,814	$1,633,843,789	$1,965,149,910	$11,796,025
2021	$1,588,609,610	$1,556,197,920	$1,831,364,701	$32,411,690
2020	$1,470,193,710	$1,447,124,091	$1,676,203,892	$23,069,619
2019	$1,708,190,506	$1,320,519,351	$1,647,641,748	$387,671,155