PEPPERDINE 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

1937

Legal Domicile

Principal Officer

JAMES A GASH

Phone

8187021364

Tax Period

2024-08-01 to 2025-07-31

PEPPERDINE UNIVERSITY, founded in 1937, is a major nonprofit in the Education sector that reported $755.1M in total revenue in fiscal year 2024. Expenses of $666.5M left a modest 12% surplus.

Mission

PEPPERDINE UNIVERSITY IS A CHRISTIAN UNIVERSITY COMMITTED TO THE HIGHEST STANDARDS OF ACADEMIC EXCELLENCE AND CHRISTIAN VALUES, WHERE STUDENTS ARE STRENGTHENED FOR LIVES OF PURPOSE, SERVICE, AND LEADERSHIP. SEE SCHEDULE O FOR MORE INFORMATION.

Program Service Accomplishments

Program 1

Expenses: $233,812,960 Revenue: $61,734,780

STUDENT SERVICES, INCLUDING SCHOLARSHIPS TO ENROLLED STUDENTS - THERE ARE MANY AUXILIARY SERVICES OFFERED TO THE STUDENTS TO PROMOTE THEIR INTELLECTUAL, EMOTIONAL, AND SPIRITUAL DEVELOPMENT...

STUDENT SERVICES, INCLUDING SCHOLARSHIPS TO ENROLLED STUDENTS - THERE ARE MANY AUXILIARY SERVICES OFFERED TO THE STUDENTS TO PROMOTE THEIR INTELLECTUAL, EMOTIONAL, AND SPIRITUAL DEVELOPMENT. PEPPERDINE UNIVERSITY MAINTAINS MULTIPLE DINING AND HOUSING FACILITIES, A BOOKSTORE, BANKING SERVICES, PARKING FACILITIES LOCATED ALL OVER CAMPUS, TRANSPORTATION SERVICES, RECREATIONAL FIELDS, AND MAIL SERVICES. IN ADDITION TO THESE FACILITIES AND SERVICES, PEPPERDINE UNIVERSITY OFFERS APPROXIMATELY 83% OF ITS TOTAL STUDENT BODY FINANCIAL AID IN THE FORM OF VARIOUS SCHOLARSHIPS, GRANTS, AND LOANS.

Program 2

Expenses: $126,751,443 Revenue: $474,779

ACADEMIC SUPPORT - PEPPERDINE UNIVERSITY EQUIPS STUDENTS WITH ACADEMIC SUPPORT TO ENSURE STUDENTS REACH THEIR EDUCATIONAL GOALS. UNIVERSITY SERVICES SUCH AS THE LIBRARY, TECH CENTRAL, PEPPERDINE...

ACADEMIC SUPPORT - PEPPERDINE UNIVERSITY EQUIPS STUDENTS WITH ACADEMIC SUPPORT TO ENSURE STUDENTS REACH THEIR EDUCATIONAL GOALS. UNIVERSITY SERVICES SUCH AS THE LIBRARY, TECH CENTRAL, PEPPERDINE COUNSELING CENTER, THE HEALTH CENTER, AND ONE STOP, THE PRIMARY ACADEMIC ADVISING CENTER, ASSIST IN THE WELL-BEING AND ACADEMIC PROGRESS OF THE UNIVERSITY'S STUDENTS.

Program 3

Expenses: $118,896,962 Revenue: $491,569,432

INSTRUCTION AND RESEARCH - PEPPERDINE UNIVERSITY IS A TOP CHRISTIAN INSTITUTION FOR HIGHER EDUCATION, AND SERVES APPROXIMATELY 3,600 UNDERGRADUATE STUDENTS AND 5,400 GRADUATE STUDENTS. IN ADDITION TO THE UNIVERSITY'S CAMPUSES IN CALIFORNIA, PEPPERDINE UNIVERSITY MAINTAINS SEVERAL STUDENT LEARNING PROGRAMS IN LOCATIONS SUCH AS EUROPE, SOUTH AMERICA, AND WASHINGTON D.C. PEPPERDINE UNIVERSITY BELIEVES IN A LOW STUDENT-FACULTY RATIO (13:1) AND HAS AN AVERAGE CLASS SIZE OF 18. THE UNIVERSITY OFFERS 43 MAJORS THAT UNDERGRADUATES CAN PURSUE, AS WELL AS 38 GRADUATE DEGREES, INCLUDING SEVEN DOCTORAL DEGREES.

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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 $56,339,649

Program Service Revenue $553,972,247

Investment Income $121,647,437

Other Revenue $23,157,358

TOTAL REVENUE $755,116,691

Expense Breakdown

Grants Paid $150,373,104

Salaries & Benefits $260,303,276

Fundraising Expenses $9,354,583

Program Expenses $507,444,167

Other Expenses $255,299,506

TOTAL EXPENSES $666,452,572

Year-over-Year Comparison

	2024	2023	Change
Revenue	$755,116,691	$705,484,656	+0.1%
Expenses	$666,452,572	$664,734,965	+0.0%
Net Income	$88,664,119	$40,749,691	+1.2%

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

5155

Volunteers

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

$8,286,263

Total Directors

$1,323,005

Key Employees

$3,371,693

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DEE ANNA SMITH	CHAIR, REGENT	1.00	Officer Director	$0	$0	$0
ALAN BEARD	REGENT THRU 5/25	1.00	Director	$0	$0	$0
ANNA MERGELE	REGENT	1.00	Director	$0	$0	$0
CHRISTOPHER RUDD	REGENT	1.00	Director	$0	$0	$0
DALE BROWN	REGENT	1.00	Director	$0	$0	$0
DENNIS LEWIS	REGENT	1.00	Director	$0	$0	$0
ERIC WOLFORD	REGENT	1.00	Director	$0	$0	$0
FREDERICK RICKER	VICE CHAIR, REGENT	1.00	Officer Director	$0	$0	$0
JAMES GASH	PRESIDENT & CEO	40.00	Officer Director	$917,815	$405,190	$1,323,005
JAY WELKER	SECRETARY, REGENT	1.00	Officer Director	$0	$0	$0
JEREMY JOHNSON	REGENT	1.00	Director	$0	$0	$0
JOHN LEWIS	ASSISTANT SECRETARY, REGENT	1.00	Officer Director	$0	$0	$0
JOHN PLUEGER	REGENT	1.00	Director	$0	$0	$0
KASEY PIPES	REGENT	1.00	Director	$0	$0	$0
KIMBERLY LINDLEY	REGENT	1.00	Director	$0	$0	$0
MICHAEL OKABAYASHI	REGENT	1.00	Director	$0	$0	$0
PETER JOHNSON JR	REGENT	1.00	Director	$0	$0	$0
R CHARLES WALKER JR	REGENT	1.00	Director	$0	$0	$0
SETH HAYE	REGENT	1.00	Director	$0	$0	$0
SHELLE ENSIO	REGENT	1.00	Director	$0	$0	$0
STEPHEN STEWART	REGENT	1.00	Director	$0	$0	$0
VIRGINIA MILSTEAD	REGENT	1.00	Director	$0	$0	$0
BEN VEENENDAAL	VP PLANNING, OPS & CONSTRUCTION	40.00	Officer	$239,148	$63,275	$302,423
CONNIE HORTON	VP STUDENT AFFAIRS, VC RISE	40.00	Officer	$204,856	$161,918	$366,774
DAMON SEAN BURNETT	SVP, INTEGRATED MARKETING & CMO	40.00	Officer	$302,795	$157,216	$460,011
DANIEL DEWALT	VP & CHIEF OF STAFF	40.00	Officer	$389,748	$68,421	$458,169
GREG RAMIREZ	CHIEF FINANCIAL OFFICER	40.00	Officer	$427,277	$36,961	$464,238
JAY BREWSTER	PROVOST & CHIEF ACADEMIC OFFICER	40.00	Officer	$473,194	$382,341	$855,535
JERI-ELAYNE GOOSBY SMITH	VP COMM BELONGING & CDO	40.00	Officer	$292,655	$37,840	$330,495
LARRY PERRIN	SVP STRATEGIC IMPLEMENTATION	40.00	Officer	$400,269	$54,006	$454,275
MICHAEL THOMAS	VP, INTEGRATED MARKETING	40.00	Officer	$250,549	$57,994	$308,543
NICOLLE TAYLOR	SENIOR VP, COO	40.00	Officer	$409,633	$51,461	$461,094
PHIL PHILLIPS	EXEC. VICE PRESIDENT	40.00	Officer	$440,255	$276,727	$716,982
SARA COSENTINO	VP FOR ADV & CHIEF DEV OFFICER	40.00	Officer	$399,210	$81,779	$480,989
SARA YOUNG JACKSON	CHANCELLOR	40.00	Officer	$498,205	$61,860	$560,065
SHARON BEARD	INTERIM VP STUDENT AFFAIRS FROM 7/25	40.00	Officer	$167,163	$164,224	$331,387
TIMOTHY SPIVEY	VP SPIRITUAL LIFE	40.00	Officer	$167,453	$244,825	$412,278
DEBORAH CROWN	DEAN OF PGBS	40.00	Key Emp	$410,079	$55,752	$465,831
FARZIN MADJIDI	DEAN, GSEP	40.00	Key Emp	$258,769	$165,219	$423,988
FAYE HOLTON	DIRECTOR OF INVESTMENTS	35.00	Key Emp	$248,525	$44,705	$293,230
JEFFREY ROHDE	CHIEF INVESTMENT OFFICER	40.00	Key Emp	$447,528	$76,885	$524,413
JONATHAN SEE	CHIEF INFORMATION OFFICER	40.00	Key Emp	$249,221	$74,690	$323,911
KATELYN CROWE	CONTROLLER THRU 6/25	40.00	Key Emp	$227,278	$23,964	$251,242
LEE KATS	DEAN, SEAVER FROM 3/25	40.00	Key Emp	$409,117	$43,259	$452,376
LILA MCDOWELL CARLSEN	VICE PROVOST FROM 3/25 & PROFESSOR	40.00	Key Emp	$250,775	$60,187	$310,962
MICHAEL NICKS	DIRECTOR OF INVESTMENTS	40.00	Key Emp	$250,151	$75,589	$325,740
EDMUND SCHILLING	HEAD COACH, BASKETBALL	40.00	Highest	$558,269	$21,022	$579,291
EDWARD LARSON	DARLING CHAIR IN LAW & PROF	40.00	Highest	$358,415	$53,334	$411,749
KIRON SKINNER	PROFESSOR, SCHOOL OF PUBLIC POLICY	40.00	Highest	$478,467	$48,896	$527,363
LORENZO ROMAR	HEAD COACH, BASKETBALL	40.00	Highest	$461,602	$17,684	$479,286
MICHAEL FELTNER	DEAN OF COLLEGE OF HEALTH SCIENCE	40.00	Highest	$405,249	$84,029	$489,278
GARY HANSON	SENIOR EVP THRU 7/24	40.00		$237,358	$39,443	$276,801
RICK GIBSON	SV CHANCELLOR THRU 7/24	40.00		$119,305	$78,325	$197,630
DAVID SMITH	SENIOR ASSOCIATE PROVOST & PROFESSOR	40.00		$346,575	$36,241	$382,816
PAUL CARON	DEAN, CARUSO SCHOOL OF LAW	40.00		$353,109	$221,378	$574,487

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	$755,116,691	$666,452,572	$2,732,551,710	$88,664,119
2024	$705,484,656	$664,734,965	$2,610,614,882	$40,749,691
2023	$699,813,135	$649,440,096	$2,474,830,926	$50,373,039
2022	$719,080,959	$639,625,912	$2,445,970,391	$79,455,047
2021	$724,218,664	$559,572,997	$2,401,385,933	$164,645,667
2020	$580,174,202	$555,422,254	$2,047,744,709	$24,751,948
2019	$543,386,701	$521,304,808	$1,930,853,615	$22,081,893
2018	$520,306,542	$472,196,499	$1,897,654,028	$48,110,043