The George Washington 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

1821

Legal Domicile

Phone

5715538317

Tax Period

2024-07-01 to 2025-06-30

The George Washington University, founded in 1821, is a large national nonprofit in the Education sector that reported $2.0B in total revenue in fiscal year 2024.

Mission

THE MISSION OF THE GEORGE WASHINGTON UNIVERSITY (GW) IS TO EDUCATE INDIVIDUALS IN LIBERAL ARTS, LANGUAGES, SCIENCES, LEARNED PROFESSIONS, AND OTHER COURSES AND SUBJECTS OF STUDY, AND TO CONDUCT SCHOLARLY RESEARCH AND PUBLISH THE FINDINGS OF SUCH RESEARCH.

Program Service Accomplishments

Program 1

Expenses: $1,386,628,979 Revenue: $1,371,504,871

EDUCATION: OUR NAMESAKE ENVISIONED A UNIVERSITY IN THE NATION'S CAPITAL THAT WOULD PREPARE CITIZEN LEADERS BROUGHT TOGETHER FROM ALL OVER THE WORLD. TODAY, WE ARE THAT UNIVERSITY WITH STUDENTS AND...

EDUCATION: OUR NAMESAKE ENVISIONED A UNIVERSITY IN THE NATION'S CAPITAL THAT WOULD PREPARE CITIZEN LEADERS BROUGHT TOGETHER FROM ALL OVER THE WORLD. TODAY, WE ARE THAT UNIVERSITY WITH STUDENTS AND FACULTY MEMBERS FROM EVERY STATE AND MORE THAN 130 COUNTRIES. TAKING FULL ADVANTAGE OF OUR SETTING IN A GLOBAL NERVE CENTER, A GW EDUCATION INTEGRATES INTELLECTUAL DISCOVERY, INTERACTIVE LEARNING, AND UNPARALLELED ACCESS TO OPPORTUNITIES IN EVERY SECTOR OF SOCIETY. IN A CITY SHAPING THE FUTURE, GEORGE WASHINGTON IS A UNIVERSITY WHERE FACULTY AND STUDENTS NOT ONLY STUDY THE WORLD BUT ALSO WORK TO CHANGE IT.

Program 2

Expenses: $299,274,836 Revenue: $239,374,720

RESEARCH AND RESEARCH SUPPORT: GW'S RESEARCH IS DISTINGUISHED BY OUR COMMITMENT TO TRANSFORM POLICY THAT AFFECTS PEOPLE IN THEIR DAILY LIVES. THIS UNIQUE APPROACH TO RESEARCH GIVES SPECIAL CHARACTER TO OUR TEACHING AND ENABLES US TO OFFER OUR STUDENTS LEARNING EXPERIENCES THAT FEW CAN MATCH. WITH OUR LOCATION, CONNECTIONS AND CLOSE PROXIMITY TO INSTITUTIONS SUCH AS THE NATIONAL INSTITUTES OF HEALTH, NATIONAL SCIENCE FOUNDATION, THE SMITHSONIAN INSTITUTION, AND LIBRARY OF CONGRESS, GW'S RESEARCH HELPS SOLVE NATIONAL AND GLOBAL PROBLEMS WHILE GIVING OUR STUDENTS LEARNING OPPORTUNITIES INSIDE AND OUTSIDE THE CLASSROOM. IN THE 21ST CENTURY, GW'S FACULTY AND STUDENTS CONTINUE TO OPEN NEW DOORS OF DISCOVERY.

Program 3

Expenses: $162,752,862 Revenue: $141,629,694

AUXILIARY ENTERPRISES - STUDENTS AND COMMUNITY: GW PROVIDES A NUMBER OF SERVICES THAT SUPPORT LEARNING, BUILD COMMUNITY, AND ENHANCE THE OVERALL QUALITY OF STUDENT LIFE. AUXILIARY ENTERPRISES INCLUDE FACILITIES AND RESIDENTIAL PROPERTY MANAGEMENT, DINING, BOOKSTORE, PARKING, STUDENT HEALTH, MAIL, AND LAUNDRY SERVICES. GW'S UNIVERSITY STUDENT CENTER HOUSES STUDENT ORGANIZATION OFFICES AND MEETING ROOMS AND IS UTILIZED BY STUDENTS, FACULTY, STAFF, AND VISITORS. FOR MORE INFO ABOUT GW'S PROGRAMS & ACCOMPLISHMENTS, SEE THE 2024-2025 FINANCIAL REPORT ON THE FINANCE DIVISION WEBSITE AT: HTTP://FINANCE.GWU.EDU/REPORTS

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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 $81,279,446

Program Service Revenue $1,752,825,065

Investment Income $136,089,023

Other Revenue $71,503,833

TOTAL REVENUE $2,041,697,367

Expense Breakdown

Grants Paid $519,847,432

Salaries & Benefits $852,611,429

Fundraising Expenses $25,505,123

Program Expenses $1,848,656,677

Other Expenses $659,528,936

TOTAL EXPENSES $2,032,943,695

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,041,697,367	$1,912,174,697	+0.1%
Expenses	$2,032,943,695	$1,871,220,964	+0.1%
Net Income	$8,753,672	$40,953,733	-0.8%

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

15227

Volunteers

3800

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

$5,745,887

Total Directors

$1,907,439

Key Employees

$2,793,676

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ellen Granberg	President - Ex Officio	50.0	Officer Director	$1,649,216	$258,223	$1,907,439
Aaron Bates	Trustee	2.0	Director	$0	$0	$0
Adam Conner	Trustee	2.0	Director	$0	$0	$0
Ali H Kolaghassi	Trustee	2.0	Director	$0	$0	$0
Avram Tucker	Secretary of the Board/Comm Chair	5.0	Director	$0	$0	$0
Camila Tapias	Trustee	2.0	Director	$0	$0	$0
Charles R Bendit	Trustee/Comm Chair	3.0	Director	$0	$0	$0
Christine Piorkowski Barth	Trustee/Comm Chair	3.0	Director	$0	$0	$0
Donna Hill Staton	Trustee/Comm Chair	3.0	Director	$0	$0	$0
Grace E Speights	Board Chair/Comm Chair	5.0	Director	$0	$0	$0
Jeffrey Flaks	Trustee	2.0	Director	$0	$0	$0
Jennifer Park Stout	Trustee	2.0	Director	$0	$0	$0
Jonathan Perlin	Trustee (as of 06/25)	0.0	Director	$0	$0	$0
Judith Lane Rogers	Trustee/Comm Chair	3.0	Director	$0	$0	$0
Luis Otero-Bravo	Trustee	2.0	Director	$0	$0	$0
Mark H Chichester	Vice Chair of the Board/Comm Chair	5.0	Director	$0	$0	$0
Michelle Rubin	Trustee/Comm Chair	3.0	Director	$0	$0	$0
Pamela Lawrence	Trustee	2.0	Director	$0	$0	$0
Raymond J Brimble	Trustee (as of 01/25)	2.0	Director	$0	$0	$0
Regina James	Trustee	2.0	Director	$0	$0	$0
Richard A Jones	Trustee	2.0	Director	$0	$0	$0
Stacie R Lissette	Trustee (as of 06/25)	0.0	Director	$0	$0	$0
Ted Segal	Trustee (as of 06/25)	0.0	Director	$0	$0	$0
Todd Klein	Trustee	2.0	Director	$0	$0	$0
Bruno Fernandes	Executive Vice President, Chief Financial Officer and Treasurer	40.0	Officer	$981,778	$86,352	$1,068,130
Charles Barber	VP and General Counsel	50.0	Officer	$767,348	$55,996	$823,344
Christopher Bracey	Provost and EVP for Academic Affairs	50.0	Officer	$946,134	$132,163	$1,078,297
Jonathan Post	Vice President for Board Relations and Secretary of the University	50.0	Officer	$328,160	$34,845	$363,005
Scott Mory	Senior VP & Chief of Staff	50.0	Officer	$472,776	$32,896	$505,672
Barbara Lee Bass	VP for Health Affairs and Dean of SMHS	50.0	Key Emp	$1,346,972	$154,868	$1,501,840
Lynn Goldman	Dean, Milken Institute School of Public Health	50.0	Key Emp	$652,430	$35,592	$688,022
Paul J Wahlbeck	Dean, CCAS	50.0	Key Emp	$538,293	$65,521	$603,814
Christian Caputo	Mens' Basketball Coach	50.0	Highest	$902,154	$95,270	$997,424
Donna Arbide	VP for Development and Alumni Relations	50.0	Highest	$774,597	$54,109	$828,706
Julie Bauman	GW Cancer Center	50.0	Highest	$885,389	$141,829	$1,027,218
Shahram Sarkani	Director and Professor of EMSE	50.0	Highest	$1,501,865	$63,593	$1,565,458
Thomas A Mazzuchi	Chair, Dept. of Engineering	50.0	Highest	$820,770	$56,271	$877,041
Forrest Maltzman	Former Provost and EVP for Academic Affairs	50.0		$380,839	$44,605	$425,444
Jeffrey S Akman	Former VP for Health Affairs and Dean of SMHS	50.0		$485,181	$45,753	$530,934
Mark Diaz	Former Executive VP and CFO	0.0		$125,000	$0	$125,000
Sharon L Reich Paulsen	Former Executive vice president	50.0		$883,009	$14,301	$897,310

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	$2,041,697,367	$2,032,943,695	$5,460,399,051	$8,753,672
2024	No data	No data	No data	No data
2023	$1,803,011,076	$1,749,076,031	$4,984,564,537	$53,935,045
2022	$1,730,337,567	$1,665,300,765	$4,854,587,342	$65,036,802
2021	$1,577,044,473	$1,529,825,645	$5,052,548,646	$47,218,828
2020	$1,667,611,791	$1,698,549,530	$4,920,138,728	$-30,937,739
2019	$1,665,636,831	$1,679,146,901	$4,563,094,483	$-13,510,070
2018	$1,620,270,222	$1,623,057,969	$4,567,697,789	$-2,787,747