Friends University

EIN: 480547702 501(c)(3) Education

WICHITA, KS

Total Revenue
$52,851,669
Total Expenses
$48,397,683
Total Assets
$132,190,832
Net Assets
$126,839,537
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1898
Legal Domicile
KS
Phone
3162955000
Tax Period
2024-07-01 to 2025-06-30

Friends University, founded in 1898, is a mid-sized nonprofit in the Education sector that reported $52.9M in total revenue in fiscal year 2024. Expenses of $48.4M left a modest 8% surplus.

Mission

FRIENDS UNIVERSITY, A CHRISTIAN UNIVERSITY OF QUAKER HERITAGE, EQUIPS STUDENTS TO HONOR GOD AND SERVE OTHERS.

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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 $4,274,991
Program Service Revenue $42,024,422
Investment Income $6,289,696
Other Revenue $262,560
TOTAL REVENUE $52,851,669

Expense Breakdown

Grants Paid $17,501,942
Salaries & Benefits $17,056,897
Fundraising Expenses $794,720
Program Expenses $43,358,396
Other Expenses $13,694,831
TOTAL EXPENSES $48,397,683

Year-over-Year Comparison

2024 2023 Change
Revenue $52,851,669 $54,860,812 0.0%
Expenses $48,397,683 $53,173,355 -0.1%
Net Income $4,453,986 $1,687,457 +1.6%
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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Governance

Voting Members
21
Independent Members
20
Employees
819
Volunteers
50

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
8
$664,109
Total Directors
23
$353,907
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DR AMY CAREY TRUSTEE/PRESIDENT 50.0
Officer Director
$294,440 $59,467 $353,907
DR JOHN LEWIS TRUSTEE/VICE CHAIR - ENDING OCTOBER 2024 5.0
Officer Director
$0 $0 $0
DR KEVIN HOPPOCK TRUSTEE/VICE CHAIR - BEGINNING OCTOBER 2024 5.0
Officer Director
$0 $0 $0
DR THAYNE THOMPSON TRUSTEE/CHAIR 5.0
Officer Director
$0 $0 $0
REGINA MILLER TRUSTEE/ SECRETARY 5.0
Officer Director
$0 $0 $0
ROBERT CASPER TRUSTEE/TREASURER 5.0
Officer Director
$0 $0 $0
BRENT EDMISTEN TRUSTEE 1.0
Director
$0 $0 $0
DANIEL LITTLER TRUSTEE - BEGINNING OCTOBER 2024 1.0
Director
$0 $0 $0
DR KENT WALKEMEYER TRUSTEE 1.0
Director
$0 $0 $0
G ALEX MELUGIN TRUSTEE 1.0
Director
$0 $0 $0
GIL ALVAREZ TRUSTEE 1.0
Director
$0 $0 $0
JAMES NAGY TRUSTEE 1.0
Director
$0 $0 $0
JANA MCDANIEL TRUSTEE 1.0
Director
$0 $0 $0
JEFF RAMSEY TRUSTEE 1.0
Director
$0 $0 $0
KEVIN HENDERSON TRUSTEE - ENDING OCTOBER 2024 1.0
Director
$0 $0 $0
KIMBERLY DUGGER ATTWATER TRUSTEE 1.0
Director
$0 $0 $0
LYNN GHORMLEY TRUSTEE - BEGINNING OCTOBER 2024 1.0
Director
$0 $0 $0
MATTHEW SHEPHERD TRUSTEE/ AA CHAIR BEGINNING OCTOBER 2024 1.0
Director
$0 $0 $0
NATHAN FOREMAN TRUSTEE 1.0
Director
$0 $0 $0
PAUL MOORE TRUSTEE - ENDING OCTOBER 2024 1.0
Director
$0 $0 $0
RENAE RYAN TRUSTEE 1.0
Director
$0 $0 $0
SHANNON BOHM TRUSTEE 1.0
Director
$0 $0 $0
VICKIE YOUNG BEAM TRUSTEE 1.0
Director
$0 $0 $0
KEN STOLTZFUS VP, ACADEMIC AFFAIRS 50.0
Officer
$146,382 $13,163 $159,545
SCOTT FREY VP, FINANCE 50.0
Officer
$142,628 $8,029 $150,657
PAUL RAMSEYER VP, ATHLETICS AND STRATEGIC ADVANCEMENT 50.0
Highest
$116,690 $24,598 $141,288
PRESTON TODD VP, ENROLLMENT MANAGEMENT 50.0
Highest
$114,865 $24,997 $139,862
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 $52,851,669 $48,397,683 $132,190,832 $4,453,986
2024 No data No data No data No data
2023 $45,214,355 $45,556,612 $119,485,789 $-342,257
2022 $51,050,337 $46,766,239 $113,219,146 $4,284,098
2021 $47,909,679 $42,305,082 $127,280,945 $5,604,597
2020 $40,667,613 $41,503,339 $111,830,855 $-835,726
2019 $40,868,629 $39,922,343 $113,559,056 $946,286
2018 $38,889,276 $39,324,859 $112,606,030 $-435,583
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