Drew University is located in Madison, NJ. The organization was established in 1935. According to its NTEE Classification (B42) the organization is classified as: Undergraduate Colleges, under the broad grouping of Education and related organizations. As of 06/2021, Drew University employed 1,393 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Drew University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Drew University generated $104.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $125.0m during the year ending 06/2020. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE UNIVERSITY OFFERS GRADUATE AND UNDERGRADUATE STUDIES AND IS COMPRISED OF THE COLLEGE OF LIBERAL ARTS, THE THEOLOGICAL SCHOOL, AND THE CASPERSEN SCHOOL OF GRADUATE STUDIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DREW UNIVERSITY COLLEGE OF LIBERAL ARTS AFFIRMS A COMMITMENT TO ITS FOUNDING VISION TO OFFER ITS STUDENTS A LIBERAL ARTS EDUCATION OF THE HIGHEST QUALITY THROUGH A RIGOROUS COURSE OF STUDY. THE COLLEGE CHALLENGES STUDENTS TO EXPLORE THE ARTS, NATURAL SCIENCES, SOCIAL SCIENCES, HUMANITIES, AND INTERDISCIPLINARY FIELDS IN DEPTH AND TO DEVELOP THEIR CAPACITIES FOR CRITICAL THOUGHT, PROBLEM SOLVING, EFFECTIVE COMMUNICATION, CREATIVITY, SELF DISCIPLINE, AND EMPATHY. AS THE COLLEGE PREPARES STUDENTS FOR ACADEMIC AND PROFESSIONAL ACHIEVEMENT, IT PROVIDES THEM WITH ESSENTIAL SKILLS FOR LIVING AND CONTINUING TO LEARN AND TO GROW IN AN INCREASINGLY DIVERSE AND COMPLEX WORLD.
DREW THEOLOGICAL SCHOOL EMPOWERS LEADERSHIP FOR A GLOBAL CHRISTIANITY OF JUSTICE, ECUMENISM, AND THE INTEGRITY OF CREATION. ITS PASTORAL, SPIRITUAL, AND CONCEPTUAL DISCIPLINES GROW WITHIN AN INTIMATE LITURGICAL AND COMMUNAL CONTEXT, ONE THAT SUSTAINS MULTIPLE RELATIONS OF DIFFERENCE. THROUGH ITS PARTICULAR HISTORICAL COMMITMENTS TO AFRICAN, ASIAN, AFRICAN-AMERICAN, HISPANIC, AND WOMEN'S MINISTRIES, THE THEOLOGICAL SCHOOL REMAINS FAITHFULLY ROOTED IN ITS METHODIST HERITAGE.DREW NURTURES CHRISTIAN PRACTICES THROUGH VITAL PARTNERSHIP WITH LOCAL CHURCHES AND INTERNATIONAL NETWORKS OF EDUCATION. TRANS-DISCIPLINARY INTERPRETATION OF TEXT, TRADITION, AND EXPERIENCE ENERGIZES ITS SCHOLARLY VIGOR. CONTINUED ON SCHEDULE "O".DREW ENGENDERS THEOLOGIES RESPONSIBLE TO THE COMPLEX REALITIES OF AN INTERCONNECTED WORLD. INTO THAT WORLD, DREW SENDS PASTORS, PREACHERS AND PROPHETS, DEACONS, ACTIVISTS, AND TEACHERS.
THE CASPERSEN SCHOOL OF GRADUATE STUDIES WAS FOUNDED ON THE PRINCIPLE OF THE IMPORTANCE OF INTERDISCIPLINARY STUDY IN THE HUMANITIES. THE GOAL OF THE SCHOOL'S FOUNDERS WAS TO FOSTER BROADLY EDUCATED PEOPLE WHO HAVE EXPERTISE IN A FIELD OF THOUGHT BUT WHO ARE ALSO FAMILIAR WITH AND ARTICULATE IN A RANGE OF HUMANISTIC STUDIES. THIS MISSION CONTINUES TO DISTINGUISH THE CASPERSEN SCHOOL AMONG INSTITUTIONS WITH DOCTORAL PROGRAMS IN THE HUMANITIES. OUR INTENT IS TO TRAIN PERSONS WHO ARE PROPERLY PREPARED NOT ONLY IN SPECIFIC RECOGNIZED FIELDS BUT ALSO IN INTERDISCIPLINARY DIALOGUE. WE CELEBRATE THE JOY OF LEARNING AS WE PREPARE ABLE, WELL INFORMED GRADUATES WHO PURSUE CAREERS IN HIGHER EDUCATION, IN THE RELIGIOUS AND MEDICAL COMMUNITIES, AND IN THE BROADER INTELLECTUAL WORLD. CONTINUED ON SCHEDULE "O".AS SUCH, WE ARE WELL POSITIONED TO MEET THE INCREASING CALL FOR INTERDISCIPLINARY APPROACHES BOTH IN THE ACADEMY AND IN THE WIDER WORLD. INTEGRAL TO OUR MISSION IS ENCOURAGING OUR FACULTY AND STUDENTS ALIKE TO PURSUE CREATIVE RESEARCH IN THE HUMANITIES AND TO MAKE THE RESULTS OF THEIR WORK AVAILABLE THROUGH TEACHING, PARTICIPATION IN SCHOLARLY MEETINGS, VARIOUS FORMS OF PUBLICATION AND INTELLECTUAL DISCOURSE; TO THAT END WE CONTINUE TO EXPLORE NEW POSSIBILITIES OF ENHANCING INTERDISCIPLINARY STUDIES IN THE HUMANITIES.
OTHER PROGRAM EXPENSES REFLECT EDUCATIONAL PROGRAM EXPENSES NOT DIRECTLY RELATED TO ONE OF THE SCHOOLS DESCRIBED ABOVE. IT INCLUDES AN ALLOCATED METHOD OF PROGRAM, AUXILIARY, AND STUDENT SERVICE EXPENSES. OTHER PROGRAM ACTIVITIES ALSO INCLUDE EXPENSES AND REVENUES FROM THEUNIVERSITY'S CONTINUING EDUCATION AND SUMMER PROGRAMS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Maryann Baenningeruntil 0720 President (non-Voting) | OfficerTrustee | 35 | $467,452 |
Bret Silver Vp, University Advancement | Officer | 35 | $373,188 |
John Vitali Until 63021 VP Finance & Administration | Officer | 34 | $300,500 |
Robert Herr VP Enrollment Mgt. (until 09/20) | Officer | 35 | $248,606 |
Louise Hood Asst Vp, Advancement | 35 | $210,996 | |
Javier Viera Until 1220 Associate Provost & Dean | Officer | 35 | $199,239 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Aramark Higher Education Food Services | 6/29/21 | $1,062,388 |
Fortium Partners Lp It Consultants | 6/29/21 | $368,658 |
Robert Half Finance Recruitment Services | 6/29/21 | $144,011 |
The Execusearch Group Accounting/auditing Services | 6/29/21 | $139,649 |
Baker Tilly Us Accounting/auditing Services | 6/29/21 | $124,650 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $7,168,646 |
Investment income | $606,142 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $1,204,084 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $104,896,145 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic individuals. | $36,878,067 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $2,899,213 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $32,460,727 |
Pension plan accruals and contributions | $2,050,876 |
Other employee benefits | $4,535,591 |
Payroll taxes | $2,439,836 |
Fees for services: Management | $0 |
Fees for services: Legal | $688,161 |
Fees for services: Accounting | $97,892 |
Fees for services: Lobbying | $16,065 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $632,754 |
Fees for services: Other | $1,458,007 |
Advertising and promotion | $1,740,763 |
Office expenses | $690,295 |
Information technology | $2,764,118 |
Royalties | $0 |
Occupancy | $11,446,328 |
Travel | $455,824 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,133,615 |
Interest | $5,623,873 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $8,123,711 |
Insurance | $603,778 |
All other expenses | $0 |
Total functional expenses | $125,042,898 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $5,769,169 |
Savings and temporary cash investments | $402,696 |
Pledges and grants receivable | $1,847,620 |
Accounts receivable, net | $1,368,540 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $568,943 |
Inventories for sale or use | $165,835 |
Prepaid expenses and deferred charges | $438,470 |
Investments—publicly traded securities | $22,291,448 |
Investments—other securities | $92,381,790 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $7,644,332 |
Total assets | $267,880,301 |
Accounts payable and accrued expenses | $11,448,157 |
Grants payable | $0 |
Deferred revenue | $9,130,747 |
Tax-exempt bond liabilities | $77,418,632 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $5,666,743 |
Total liabilities | $103,664,279 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Total liabilities and net assets/fund balances | $164,216,022 |
Over the last fiscal year, we have identified 1 grants that Drew University has recieved totaling $2,000.
Awarding Organization | Amount |
---|---|
William C & Mabel D Hunt Dallas, TX PURPOSE: SCHOLARSHIPS | $2,000 |
Beg. Balance | $151,122,000 |
Earnings | $15,304,000 |
Net Contributions | $3,709,000 |
Other Expense | $25,000,000 |
Grants | $3,741,000 |
Ending Balance | $141,394,000 |
Organization Name | Assets | Revenue |
---|---|---|
Ithaca College Ithaca, NY | $834,703,732 | $365,679,639 |
Touro University New York, NY | $558,489,117 | $321,976,604 |
Saint Josephs University Philadelphia, PA | $901,366,941 | $347,052,680 |
Colgate University Treasurers Office Hamilton, NY | $1,984,946,016 | $378,114,548 |
Skidmore College Saratoga Springs, NY | $987,033,808 | $268,742,242 |
Lafayette College Easton, PA | $1,381,563,896 | $228,460,340 |
Swarthmore College Swarthmore, PA | $3,573,029,000 | $364,464,007 |
Barnard College New York, NY | $934,956,587 | $267,817,606 |
Gettysburg College Gettysburg, PA | $570,755,194 | $196,773,554 |
Trustees Of Hamilton College Clinton, NY | $1,394,895,135 | $220,131,728 |
Siena College Loudonville, NY | $358,979,613 | $209,305,526 |
St Lawrence University Canton, NY | $671,631,077 | $204,208,934 |