Nova Southeastern University Inc

EIN: 591083502 501(c)(3) Education

Fort Lauderdale, FL

Total Revenue
$1,024,052,079
Total Expenses
$957,673,254
Total Assets
$2,090,842,277
Net Assets
$1,213,078,344
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Financial Trends

Organization Details

Formation Year
1964
Legal Domicile
FL
Principal Officer
Dr Harry K Moon
Phone
9542625258
Tax Period
2023-07-01 to 2024-06-30

Nova Southeastern University Inc, founded in 1964, is a large national nonprofit in the Education sector that reported $1.0B in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $957.7M left a modest 6% surplus.

Mission

The mission of NSU - a selective, doctoral research university - is to deliver innovative academic programs in a dynamic, lifelong learning and research environment fostering integrity, academic excellence, (continued on Schedule O)leadership, and community service through engaged students, faculty, and staff.

Program Service Accomplishments

Program 1
Expenses: $441,278,779 Revenue: $45,875,520

Instructional Services: Nova Southeastern University (NSU) offers undergraduate degrees, graduate and first professional degrees, and certificate programs to more than 20,000 full-time and part-time...

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Instructional Services: Nova Southeastern University (NSU) offers undergraduate degrees, graduate and first professional degrees, and certificate programs to more than 20,000 full-time and part-time students in a wide range of fields, including the humanities, biological and environmental sciences, business, counseling, computer and information sciences, conflict resolution, education, family therapy, medicine, dentistry, various other health professions, law, marine science, performing and visual arts, psychology, and other social sciences. In addition to the main Fort Lauderdale/Davie and Oceanographic Campuses in South Florida, courses are taught at 9 regional campuses located across Florida, Puerto Rico, and Colorado; (continued on Schedule O)and at limited sites in other states and foreign countries. NSU has 15 colleges and schools : Abraham S. Fischler College of Education and School of Criminal Justice; College of Dental Medicine; College of Computing and Engineering; College of Optometry; Barry and Judy Silverman College of Pharmacy; College of Psychology; Dr. Kiran C. Patel College of Allopathic Medicine; Dr. Kiran C. Patel College of Osteopathic Medicine; Dr. Pallavi Patel College of Health Care Sciences; Farquhar Honors College; H. Wayne Huizenga College of Business and Entrepreneurship; Halmos College of Arts and Sciences; Ron and Kathy Assaf College of Nursing; Shepard Broad College of Law; and the NSU University School. In fall 2023, NSU welcomed its largest undergraduate class with 2,029 first-time-in-college freshmen. In line with NSU's strategic expansion of undergraduates, overall undergraduate enrollment has steadily increased, growing 47 percent over the last five years to 7,219 in fall 2023. The expansion of HPD's medical professional programs, D.O. and M.D., drove the overall 20 percent increase in NSU's professional-level enrollment over the past five years. NSU is the largest educator of physicians in Florida and is one of only four universities in the United States to offer both a D.O. and M.D. program, and the first and only university in the state of Florida to grant both degrees. NSU graduated more than 400 physicians (D.O. and M.D. graduates combined) in each of the past two fiscal years, meeting a critical need in the health care industry. The increase in the undergraduate population coupled with increasing professional-level enrollments in the HPD, have helped to offset graduate enrollment declines in certain programs which are reflective of changes in the economy and educational demands in particular areas. In these areas, the university has implemented specific strategies to right-size resources and program offerings. Strategic action steps have also been taken in recruitment, admission, retention, and marketing efforts through enhanced communication plans, increased personal outreach to students, and increased faculty engagement in recruitment efforts. NSU has leveraged and supported its strengths in graduate and professional education while growing its undergraduate population. For example, the university's distinctive Dual Admission Program provides highly motivated undergraduate students with the opportunity to reserve a seat in selective graduate/professional programs while earning their bachelor's degree. This unique program has continued to attract academically highly qualified students, supporting strategic goals for enhanced student quality, experience, and outcomes. Other examples include the Abraham S. Fischler College of Education's Fischler Academy, an elite teacher preparation program, and the H. Wayne Huizenga College of Business and Entrepreneurship's Huizenga Business Innovation Academy. These academy programs allow first-time-in-college students to earn both their bachelor's and master's degrees in just four years.

Program 2
Expenses: $117,877,434 Revenue: $12,136,052

Academic Support: Programs include the NSU library system, computer services, museum of art operations, student education center operations and maintenance of facilities dedicated to instructional...

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Academic Support: Programs include the NSU library system, computer services, museum of art operations, student education center operations and maintenance of facilities dedicated to instructional activities. The university library system is composed of the Alvin Sherman Library, Research, and Information Technology Center; the Health Professions Division Library; the Law Center Library; the Oceanography Library; and the NSU University School Media Center. The 325,000-square-foot Alvin Sherman Library, Research, and Information Technology Center is a joint-use facility with the Broward County Board of County Commissioners. The facility contains electronic classrooms, group-study rooms, a large collaborative study room, a cafe, and (continued on Schedule O)service desks with staff trained and ready to serve library users.NSU Health's state-of-the art dental clinic at the Tampa Bay Regional Campus completed its first year of operations, treating patients in more than 6,000 individual visits during fiscal 2024. The clinic supports the College of Dental Medicine's expansion of its D.M.D. program to Tampa Bay, with its third cohort admitted in May 2024, for a total of 107 international dental students enrolled in Tampa Bay as of June 30, 2024. Fiscal 2024 also included noteworthy facilities projects, enhancing student experiences through technology and innovation. Examples include the spring 2024 opening of the Jerry Taylor and Nancy Bryant Trading Floor, an advanced educational space supporting hands-on experience in conducting research and managing a range of investments for H. Wayne Huizenga College of Business and Entrepreneurship students. The NSU University School's innovation lab was substantially completed (opening fall 2024), featuring a cutting-edge hub dedicated to robotics, exploration, experimentation, and fabrication for NSU's 2,000+ preschool through grade 12 students. The lab complements NSU's Alan B. Levan | NSU Broward Center of Innovation (the Levan Center of Innovation), which opened in fiscal 2022 and is one of the largest of its kind in the nation, featuring emerging technology supporting innovation and entrepreneurship.

Program 3
Expenses: $83,461,901 Revenue: $772,100,233

Auxiliary Enterprises: Nova Southeastern University's NSU Health is a patient centric, integrated health care network built on a foundation of education, research, and the highest quality patient...

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Auxiliary Enterprises: Nova Southeastern University's NSU Health is a patient centric, integrated health care network built on a foundation of education, research, and the highest quality patient care.NSU Health has many outpatient facilities and provides care in medical, dental, optometry, pharmacy, and mental health services, including family therapy. There are also specialty services available, such as audiology, occupational therapy, physical therapy, and speech language pathology. In addition to the health care facilities on the Fort Lauderdale/Davie Campus, NSU Health provides services to the surrounding community. (continued on Schedule O)NSU has numerous residence halls on the main campus that serve its students. The residence halls are living/learning centers that provide an environment conducive to student success.The Don Taft University Center is a more than 325,000-square-foot facility featuring three NCAA competition courts, group fitness and instruction rooms, cardio and weight training areas, squash courts, a rock climbing wall, and the Flight Deck Pub. The Performing and Visual Arts Wing of the Don Taft University Center includes state-of-the-art classrooms and facilities that support the art, dance, music, and theatre majors of the Department of Communication, Media, and the Arts (DCMA) at the Halmos College of Arts and Sciences.

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $85,158,261
Program Service Revenue $891,512,657
Investment Income $38,949,724
Other Revenue $8,431,437
TOTAL REVENUE $1,024,052,079

Expense Breakdown

Grants Paid $166,827,210
Salaries & Benefits $443,427,826
Fundraising Expenses $4,183,012
Program Expenses $823,963,922
Other Expenses $347,243,121
TOTAL EXPENSES $957,673,254

Year-over-Year Comparison

2023 2022 Change
Revenue $1,024,052,079 $937,818,588 +0.1%
Expenses $957,673,254 $886,692,937 +0.1%
Net Income $66,378,825 $51,125,651 +0.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
26
Independent Members
25
Employees
8979
Volunteers
2053

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
4
$2,959,338
Total Directors
27
$1,882,049
Key Employees
5
$2,259,926
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
George L Hanbury II PhD President/Chief Executive Officer 37.50
Officer Director
$1,330,212 $551,837 $1,882,049
Ronald G Assaf Trustee 2.00
Director
$0 $0 $0
Walter L Banks Sr Trustee 2.00
Director
$0 $0 $0
Mitchell W Berger Trustee 2.00
Director
$0 $0 $0
Rita Case Trustee 2.00
Director
$0 $0 $0
Suzi Cordish Trustee 1.50
Director
$0 $0 $0
R Douglas Donn Trustee 1.50
Director
$0 $0 $0
James Donnelly Trustee 1.50
Director
$0 $0 $0
Arthur J Falcone Trustee 2.00
Director
$0 $0 $0
Steven J Halmos Trustee 1.50
Director
$0 $0 $0
Carol Harrison Kalagher Trustee 2.00
Director
$0 $0 $0
Milton L Jones Jr Trustee 2.00
Director
$0 $0 $0
Barbara Trebbi Landry Trustee 2.00
Director
$0 $0 $0
Alan B Levan Trustee 7.75
Director
$0 $0 $0
Nell McMillan Lewis Trustee 2.00
Director
$0 $0 $0
Albert J Miniaci Trustee 1.50
Director
$0 $0 $0
Samuel F Morrison Secretary 1.50
Officer Director
$0 $0 $0
Anthony N Ottaviani Trustee 1.50
Director
$0 $0 $0
Charles L Palmer Chair 5.00
Director
$0 $0 $0
Kiran C Patel Trustee 1.50
Director
$0 $0 $0
George Platt Trustee 1.50
Director
$0 $0 $0
Martin R Press Trustee 2.00
Director
$0 $0 $0
Paul M Sallarulo Trustee 1.50
Director
$0 $0 $0
Barry J Silverman Vice Chair 2.00
Director
$0 $0 $0
J Kenneth Tate Trustee 2.00
Director
$0 $0 $0
Zachariah P Zachariah Trustee 2.00
Director
$0 $0 $0
Michael Zager Trustee 2.50
Director
$0 $0 $0
Harry K Moon Exec VP & COO 37.50
Officer
$567,380 $54,184 $621,564
Alyson Silva VP Finance & CFO 37.50
Officer
$396,442 $59,283 $455,725
Elaine M Wallace Dean - Coll of Osteopathic Medicine 37.50
Key Emp
$728,530 $50,330 $778,860
Ronald Chenail Provost/Exec VP Acad Affairs 37.50
Key Emp
$473,182 $54,420 $527,602
Guy Nehrenz Interim Dean-Coll of Hlth Care Scs 37.50
Key Emp
$244,658 $45,916 $290,574
Stanley Wilson Interim Dean-Coll of Hlth Care Scs 37.50
Key Emp
$222,312 $43,866 $266,178
Daniel Alfonso VP Facilities Management 37.50
Key Emp
$348,245 $48,467 $396,712
Johannes G Vieweg Dean - Coll Of Allopathic Medicine 37.50
Highest
$707,312 $54,557 $761,869
Steven Kaltman Dean - Coll of Dental Medicine 37.50
Highest
$434,323 $53,148 $487,471
Ray Ferrero University Chancellor 37.50
Highest
$404,929 $57,417 $462,346
Brad Williams Snr VP Enrollment Mmgmt & Stud Affrs 37.50
Highest
$458,710 $43,887 $502,597
Robert Pietrykowski VP Human Resources 37.50
Highest
$394,413 $29,512 $423,925
Frederick Lippman Former Key Employee 37.50
$289,062 $30,716 $319,778
Irving Rosenbaum Former Key Employee 37.50
$302,494 $40,769 $343,263
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 $1,024,052,079 $957,673,254 $2,090,842,277 $66,378,825
2023 $937,818,588 $886,692,937 $1,990,847,965 $51,125,651
2022 $878,104,649 $811,108,948 $1,951,921,009 $66,995,701
2021 $836,787,691 $747,310,890 $1,812,347,063 $89,476,801
2020 $777,842,794 $753,646,826 $1,601,599,606 $24,195,968
2019 $732,703,021 $703,706,589 $1,546,343,253 $28,996,432
2018 $765,461,217 $674,797,007 $1,441,984,594 $90,664,210
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