THE HOWARD 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

1867

Legal Domicile

Principal Officer

STEPHEN GRAHAM

Phone

2028066100

Tax Period

2022-07-01 to 2023-06-30

THE HOWARD UNIVERSITY, founded in 1867, is a large national nonprofit in the Education sector that reported $1.3B in total revenue in fiscal year 2022. Revenue decreased 9% compared to the prior year.

Mission

THE HOWARD UNIVERSITY WAS ESTABLISHED BY AN ACT OF CONGRESS IN 1867. THE UNIVERSITY IS AN INSTITUTION THAT EDUCATES STUDENTS, DEVELOPS PROFESSIONALS, CONDUCTS RESEARCH, AND SERVES PATIENTS THROUGH 12 SCHOOLS OF HIGHER EDUCATION AND AN ACADEMIC MEDICAL CENTER.

Program Service Accomplishments

Program 1

Expenses: $619,830,000 Revenue: $517,500,000

EDUCATION, GENERAL/OTHER- HOWARD UNIVERSITY IS A COMPREHENSIVE RESEARCH-ORIENTED HISTORICALLY BLACK PRIVATE UNIVERSITY PROVIDING AN EDUCATIONAL EXPERIENCE OF EXCEPTIONAL QUALITY TO STUDENTS OF HIGH ACADEMIC POTENTIAL WITH PARTICULAR EMPHASIS UPON THE PROVISION OF EDUCATIONAL OPPORTUNITIES TO ALL STUDENTS. HOWARD UNIVERSITY IS THE NATION'S TOP PRODUCER OF MINORITY LAWYERS, DENTISTS, PHYSICIANS AND AFRICAN AMERICAN PHDS IN THE SCIENCE AND TECHNOLOGY FIELDS. THE UNIVERSITY SERVES A COMMUNITY OF APPROXIMATELY 13,000 STUDENTS.

Program 2

Expenses: $259,247,000 Revenue: $294,595,000

A PRIVATE, NONPROFIT INSTITUTION, HOWARD UNIVERSITY HOSPITAL IS THE NATION'S ONLY TEACHING HOSPITAL LOCATED ON THE CAMPUS OF A HISTORICALLY BLACK UNIVERSITY. IT OFFERS MEDICAL STUDENTS A SUPERIOR...

A PRIVATE, NONPROFIT INSTITUTION, HOWARD UNIVERSITY HOSPITAL IS THE NATION'S ONLY TEACHING HOSPITAL LOCATED ON THE CAMPUS OF A HISTORICALLY BLACK UNIVERSITY. IT OFFERS MEDICAL STUDENTS A SUPERIOR LEARNING ENVIRONMENT AND OPPORTUNITIES TO OBSERVE OR PARTICIPATE IN CLINICAL AND RESEARCH WORK WITH PROFESSIONALS THAT UNIQUELY ADDRESSES THE SPECIAL HEALTH CARE NEEDS OF MEDICALLY UNDERSERVED COMMUNITIES. HOWARD UNIVERSITY HOSPITAL ADMITS PATIENTS REGARDLESS OF THEIR ABILITY TO PAY.

Program 3

Expenses: $46,084,000 Revenue: $48,970,000

THE UNIVERSITY OFFERS EDUCATIONAL SUPPORT THROUGH ITS AUXILIARY SERVICES FOR THE BENEFIT OF ITS STAFF, FACULTY AND STUDENTS AND COMPLEMENT THE QUALITY OF THE ACADEMIC LIFE. AUXILIARY SERVICES INCLUDE STUDENT HOUSING, FOOD SERVICES, PARKING, TRANSPORTATION SERVICES AND A PUBLIC TELEVISION STATION.

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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 $325,872,000

Program Service Revenue $861,065,000

Investment Income $54,436,040

Other Revenue $28,076,960

TOTAL REVENUE $1,269,450,000

Expense Breakdown

Grants Paid $183,804,471

Salaries & Benefits $543,152,652

Fundraising Expenses $4,966,141

Program Expenses $925,161,000

Other Expenses $508,346,877

TOTAL EXPENSES $1,235,304,000

Year-over-Year Comparison

	2022	2021	Change
Revenue	$1,269,450,000	$1,401,205,000	-0.1%
Expenses	$1,235,304,000	$1,173,375,000	+0.1%
Net Income	$34,146,000	$227,830,000	-0.9%

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

7732

Volunteers

133

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

$6,791,203

Total Directors

$1,823,097

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR LAURENCE C MORSE	CHAIRMAN	1.00	Director	$0	$0	$0
MS LESLIE D HALE	VICE CHAIR	1.00	Director	$0	$0	$0
MR MARK A L MASON	VICE CHAIR	1.00	Director	$0	$0	$0
MINNIE BAYLOR-HENRY ESQ	BOARD TRUSTEE	1.00	Director	$0	$0	$0
DR RICHARD BESSER	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MR CHRIS CARR	BOARD TRUSTEE	1.00	Director	$0	$0	$0
DONALD B CHRISTIAN CPA CISA	BOARD TRUSTEE	1.00	Director	$0	$0	$0
BRENT DRENON JD	BOARD TRUSTEE	1.00	Director	$0	$0	$0
THE HONORABLE ARNE DUNCAN	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MR NCHACHA ETTA	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MR GODFREY GILL	BOARD TRUSTEE	1.00	Director	$0	$0	$0
REVEREND DR MICHELE V HAGANS	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MS ABIGAIL HALL	BOARD TRUSTEE	1.00	Director	$0	$0	$0
DR DANETTE G HOWARD	BOARD TRUSTEE	1.00	Director	$0	$0	$0
THE HONORABLE ALPHONSO JACKSON	BOARD TRUSTEE	1.00	Director	$0	$0	$0
THE HONORABLE MARIE C JOHNS	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MR KEVIN E LOFTON	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MS TYRA A MARIANI	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MS DEPELSHA MCGRUDER	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MR JAMES J MURREN	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MS HILARY ROSEN	BOARD TRUSTEE	1.00	Director	$0	$0	$0
THE HONORABLE RONALD ROSENFELD	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MR SHELLEY STEWART JR	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MR BRUCE E THOMPSON	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MR CHRISTOPHER J TYSON	BOARD TRUSTEE	1.00	Director	$0	$0	$0
MR CHRIS WASHINGTON	BOARD TRUSTEE	1.00	Director	$0	$0	$0
DR JOHN E JACOB	CHAIRMAN EMERITUS	1.00	Director	$0	$0	$0
MR ROBERT L LUMPKINS	TRUSTEE EMERITUS	1.00	Director	$0	$0	$0
THE HONORABLE GABRIELLE K MCDONALD	TRUSTEE EMERITUS	1.00	Director	$0	$0	$0
STACEY J MOBLEY ESQ	CHAIRMAN EMERITUS	1.00	Director	$0	$0	$0
RICHARD D PARSONS ESQ	TRUSTEE EMERITUS	1.00	Director	$0	$0	$0
MARTIN D PAYSON ESQ	TRUSTEE EMERITUS	1.00	Director	$0	$0	$0
THE HONORABLE M KASIM REED	TRUSTEE EMERITUS	1.00	Director	$0	$0	$0
MR FRANK SAVAGE	CHAIRMAN EMERITUS	1.00	Director	$0	$0	$0
THE HONORABLE L DOUGLAS WILDER	TRUSTEE EMERITUS	1.00	Director	$0	$0	$0
MRS BENAREE P WILEY	TRUSTEE EMERITUS	1.00	Director	$0	$0	$0
THE HONORABLE MIGUEL CARDONA	PATRON EX OFFICIO	1.00	Director	$0	$0	$0
WAYNE A I FREDERICK MD MBA	PRESIDENT	40.00	Officer Director	$1,779,312	$43,785	$1,823,097
HUGH MIGHTY MD	VP CLINICAL AFFAIRS	40.00	Officer	$721,375	$36,904	$758,279
TASHNI DUBROY PHD MBA	EVP COO & INTERIM CHIEF HR	40.00	Officer	$522,305	$33,653	$555,958
ANTHONY WUTOH PHD PROVOST	AND CHIEF ACADEMIC OFFICER	40.00	Officer	$447,276	$42,374	$489,650
FLORENCE PRIOLEAU ESQ	GENERAL COUNSEL	40.00	Officer	$424,936	$32,728	$457,664
RASHAD YOUNG	SVP & CHIEF STRATEGY OFFICER	40.00	Officer	$410,264	$42,314	$452,578
STEPHEN GRAHAM	CHIEF FINANCIAL OFFICER	40.00	Officer	$432,605	$32,803	$465,408
DAVID BENNETT	VP OF DEVELOPMENT	40.00	Officer	$358,645	$40,397	$399,042
BRUCE JONES PHD	VP OF RESEARCH	40.00	Officer	$323,990	$27,251	$351,241
CHRISTIE TAYLOR	SECRETARY OF THE BOARD	40.00	Officer	$268,768	$20,612	$289,380
FRANK TRAMBLE	VP COMMUNICATIONS	40.00	Officer	$240,158	$31,435	$271,593
CYNTHIA EVERS	VP STUDENT AFFAIRS	40.00	Officer	$229,286	$18,876	$248,162
WARREN PETTY	VP & CHIEF HUMAN RESOURCES OFFICER	40.00	Officer	$212,826	$16,325	$229,151
ANDREA A HAYES MD FACS PHD	DEAN AND VP OF CLINICAL AFFAIRS	40.00	Highest	$971,934	$42,873	$1,014,807
EDWARD CORNWELL MD	SURGEON-IN-CHIEF	40.00	Highest	$676,432	$32,462	$708,894
GUOYANG LUO MD	CHAIR OF OB/GYN	40.00	Highest	$584,138	$44,008	$628,146
ROBERT WILSON MD	ASSOCIATE PRF. OF ORTHOPEDIC SURGERY	40.00	Highest	$559,184	$44,929	$604,113
ROGER MITCHELL MD	PROF. & CHAIR/CHIEF MEDICAL OFFICER	40.00	Highest	$529,131	$19,571	$548,702

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	$1,269,450,000	$1,235,304,000	$2,635,844,000	$34,146,000
2022	$1,401,205,000	$1,173,375,000	$2,607,941,000	$227,830,000
2021	$1,293,039,199	$1,020,867,573	$2,110,254,000	$272,171,626
2020	$1,025,632,000	$966,309,000	$1,667,010,000	$59,323,000
2019	$1,042,285,000	$968,511,000	$1,595,463,000	$73,774,000
2018	$976,883,000	$962,648,000	$1,546,619,000	$14,235,000