Drexel University is located in Philadelphia, PA. The organization was established in 1927. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2021, Drexel University employed 11,528 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Drexel 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 06/2021, Drexel University generated $1.2b in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $1.2b during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Drexel University has awarded 924 individual grants totaling $125,983,980. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
INTEGRATED ACADEMIC OFFERINGS ENHANCED BY TECHNOLOGY, COOPERATIVE EDUCATION AND CLINICAL PRACTICE
Describe the Organization's Program Activity:
INSTRUCTIONDREXEL IS A COMPREHENSIVE NATIONAL RESEARCH UNIVERSITY DEDICATED TO PROVIDING QUALITY UNDERGRADUATE, GRADUATE AND PROFESSIONAL EDUCATION FEATURING EXCELLENT ACADEMICS, STATE-OF-THE-ART TECHNOLOGY AND A FOCUS ON REAL-WORLD LEARNING AND SERVICE. THE UNIVERSITY'S RESEARCH ENTERPRISE WAS RECENTLY ELEVATED TO R1 STATUS IN THE CARNEGIE CLASSIFICATION OF INSTITUTIONS OF HIGHER EDUCATION--A RANK THAT DENOTES THE HIGHEST LEVEL OF RESEARCH ACTIVITY, HELD BY JUST 37 PRIVATE UNIVERSITIES AROUND THE COUNTRY. THE UNIVERSITY DISCLOSED 84 TOTAL NEW INVENTIONS AND RECEIVED 36 NEW UNITED STATES PATENTS IN FISCAL YEAR 2021.THE UNIVERSITY'S MISSION SERVES TRADITIONAL, ADULT AND ONLINE STUDENTS. DREXEL OFFERS NATIONALLY ACCREDITED PROGRAMS THAT MEET THE CHANGING NEEDS OF SOCIETY, INCLUDING MORE THAN 80 BACHELOR'S DEGREE PROGRAMS AND MORE THAN 120 GRADUATE AND PROFESSIONAL DEGREE PROGRAMS ORGANIZED IN 15 COLLEGES AND SCHOOLS: COLLEGE OF ARTS AND SCIENCES; SCHOOL OF BIOMEDICAL ENGINEERING, SCIENCE AND HEALTH SYSTEMS; BENNETT S. LEBOW COLLEGE OF BUSINESS; COLLEGE OF COMPUTING & INFORMATICS; SCHOOL OF EDUCATION; COLLEGE OF ENGINEERING; CHARLES D. CLOSE SCHOOL OF ENTREPRENEURSHIP; GRADUATE COLLEGE; PENNONI HONORS COLLEGE; THOMAS R. KLINE SCHOOL OF LAW; ANTOINETTE WESTPHAL COLLEGE OF MEDIA ARTS & DESIGN; COLLEGE OF MEDICINE; COLLEGE OF NURSING AND HEALTH PROFESSIONS; RICHARD C. GOODWIN COLLEGE OF PROFESSIONAL STUDIES AND DANA AND DAVID DORNSIFE SCHOOL OF PUBLIC HEALTH. DREXEL'S STRATEGIC EFFORTS FOCUS ON INVESTING FURTHER IN ACADEMIC EXCELLENCE, SERVING MORE STUDENTS WHILE IMPROVING THE STUDENT EXPERIENCE AND ENHANCING THE UNIVERSITY'S GLOBAL IMPACT. OVER THE LAST 25 YEARS, DREXEL HAS GROWN TO BECOME AN ECONOMIC ENGINE FOR PHILADELPHIA, SERVING AS ONE OF THE CITY'S LARGEST EMPLOYERS, GENERATING MILLIONS OF DOLLARS IN WAGE TAXES, ATTRACTING EXTERNAL FUNDING FOR RESEARCH AND KEY REAL ESTATE DEVELOPMENT PROJECTS, INVESTING IN PUBLIC SCHOOLS, AND SUPPORTING IMPORTANT COMMUNITY ORGANIZATIONS.DREXEL'S ACADEMIC ENTERPRISE HELPS STRENGTHEN THE NEIGHBORHOODS AROUND ITS CAMPUSES. DREXEL IS THE LEAD ACADEMIC PARTNER IN THE APPLICATION AND IMPLEMENTATION PROCESS FOR THE FEDERAL PROMISE ZONE IN WEST PHILADELPHIA, ONE OF THE FIRST FIVE LOCATIONS CHOSEN FOR A WHITE HOUSE INITIATIVE TO DIRECT RESOURCES TO THE NATION'S MOST PERSISTENTLY POVERTY-STRICKEN COMMUNITIES. DREXEL HAS FOSTERED AN ENVIRONMENT OF INCLUSION AND HAS SET INCLUSION AS A STRATEGIC PRIORITY. DREXEL RECOGNIZES AND RESPECTS PEOPLE OF ALL BACKGROUNDS AND EXPERIENCES AND WELCOMES ALL VIEWS AND OPINIONS. IN NOVEMBER 2020, A CENTER FOR BLACK CULTURE OPENED ITS DOORS. THE CENTER WAS ESTABLISHED TO INCREASE KNOWLEDGE, RECOGNITION AND RESPECT OF THE PEOPLE, HISTORIES AND CULTURES OF THE AFRICAN DIASPORA AND ITS MANY CONTRIBUTIONS TO THE WORLD, AND TO SERVE AS A HUB OF INFORMATION AND ACTIVITY. MOST RECENTLY, DREXEL'S DORNSIFE SCHOOL OF PUBLIC HEALTH ANNOUNCED THE LAUNCH OF THE UBUNTU CENTER ON RACISM, GLOBAL MOVEMENTS AND POPULATION HEALTH EQUITYTO UNITE DIVERSE PARTNERS, GENERATE AND TRANSLATE EVIDENCE, ACCELERATE ANTIRACISM SOLUTIONS, AND TRANSFORM THE HEALTH OF COMMUNITIES LOCALLY, NATIONALLY AND GLOBALLY. AS THE UNITED STATES TRANSITIONS TO AN INFORMATION ECONOMY AND HAS DEALT WITH UNPRECEDENTED CHALLENGES BROUGHT ON BY THE COVID-19 PANDEMIC, MANY JOBS REQUIRE THE CRITICAL THINKING AND INNOVATIVE PROBLEM-SOLVING SKILLS INSTILLED AT DREXEL. FOR 100 YEARS, DREXEL HAS EQUIPPED STUDENTS FOR THE REAL WORLD THROUGH OUR RENOWNED COOPERATIVE EDUCATION PROGRAM. DREXEL ESTABLISHED THE SOLUTIONS INSTITUTE THAT HAS BECOME THE NEW GATEWAY FOR INDUSTRY PARTNERSHIPS--CONNECTING DREXEL'S 1,600 CO-OP EMPLOYERS, AS WELL AS OTHER BUSINESSES AND NONPROFITS, AND LINKING THEM TO DREXEL STUDENT TALENT, FACULTY EXPERTISE AND WORLD-CLASS RESOURCES. DREXEL HAS MADE A STRATEGIC COMMITMENT TO HELP IMPROVE THE NATION'S GLOBAL COMPETITIVENESS BY INCREASING STUDENTS' INTERNATIONAL ENGAGEMENT TO BUILD CULTURAL COMPETENCIES. IN RECENT YEARS, THE UNIVERSITY HAS GROWN THE NUMBER OF STUDY ABROAD OPPORTUNITIES BY MORE THAN A QUARTER AND THE NUMBER OF GLOBAL POSITIONS IN DREXEL'S SIGNATURE COOPERATIVE EDUCATION PROGRAM BY A THIRD, WHILE TRIPLING BOTH THE PROGRAMMING OF THE OFFICE OF INTERNATIONAL PROGRAMS AND THE TOTAL NUMBER OF INITIATIVES AT DREXEL THAT SUPPORT CROSS-CULTURAL EDUCATION AND ENGAGEMENT.
RESEARCHDREXEL RESEARCHERS WORK ACROSS DISCIPLINES TO INCREASE THE WORLD'S STORE OF KNOWLEDGE AND TRANSLATE THAT NEW KNOWLEDGE INTO SOLUTIONS WITH TREMENDOUS POSITIVE IMPACT ON SOCIETY. TYPICALLY, THE UNIVERSITY RECEIVES ABOUT $110 MILLION PER YEAR IN RESEARCH EXPENDITURES, BUT ITS OUTPUT RIVALS THAT OF UNIVERSITIES THAT RECEIVE ANYWHERE FROM THREE TO FIVE TIMES THAT AMOUNT. DREXEL IS COMMITTED TO USING ITS RESEARCH AND TECHNOLOGICAL EXPERTISE TO BECOME AN EVEN MORE POWERFUL ECONOMIC ENGINE FOR GREATER PHILADELPHIA, HELPING TO CREATE NEW HIGH-TECH BUSINESSES AND JOBS. DREXEL LAUNCHED TWO NEW ACCELERATOR PROGRAMS IN 2015, IN COLLABORATION WITH THE STATE-FUNDED BEN FRANKLIN TECHNOLOGY PARTNERS OF SOUTHEASTERN PENNSYLVANIA AND THE CITY OF PHILADELPHIA, TO HELP GROW NEW BUSINESSES IN TECHNOLOGY AND MEDICAL DEVICES AND THERAPEUTICS. THESE ACCELERATORS ARE AMONG THE FIRST BUILDING BLOCKS OF SCHUYLKILL YARDS, A DREXEL AND BRANDYWINE REALTY TRUST INITIATIVE TO DRIVE UNIVERSITY CITY'S ASCENDANCY AS A GLOBAL INNOVATION DISTRICT. DREXEL'S RESEARCHERS CONTINUE TO BUILD PARTNERSHIPS THAT ARE CRITICAL TO CREATING 21ST-CENTURY SOLUTIONS TO AMERICA'S CHALLENGES. IN APRIL 2016, THE U.S. DEPARTMENT OF DEFENSE TAPPED DREXEL AS A KEY LEADER IN THE CREATION OF A $75 MILLION NATIONAL RESEARCH INSTITUTE THAT WILL SUPPORT AMERICAN TEXTILE MANUFACTURERS IN BRINGING SOPHISTICATED NEW MATERIALS AND TEXTILES TO THE MARKETPLACE. THE INSTITUTE, CALLED ADVANCED FUNCTIONAL FABRICS OF AMERICA, HAS BECOME A NATIONAL MANUFACTURING RESOURCE CENTER FOR INDUSTRY AND GOVERNMENT TO DRAW ON ACADEMIC EXPERTISE IN NEW FIBERS AND TEXTILES. THE RESULT WILL BE FABRICS ENGINEERED TO SEE, HEAR, SENSE AND COMMUNICATE; SERVING AN ARRAY OF INDUSTRIES INCLUDING AEROSPACE, APPAREL, ARCHITECTURE AND HEALTH. IN 2019, THE UNIVERSITY OPENED THE CENTER FOR FUNCTIONAL FABRICS AND THE PENNSYLVANIA FABRIC DISCOVERY CENTER. THE LATTER WAS CREATED TO SUPPORT DREXEL'S ROLE AS THE REGIONAL LEADER OF ADVANCED FUNCTIONAL FABRICS OF AMERICA'S NETWORK OF FABRIC DISCOVERY CENTERS. DURING FY21, DREXEL UNIVERSITY CONDUCTED RESEARCH ON THE FOLLOWING RESEARCH GRANTS:FEDERALLY SPONSORED RESEARCH - 973 GRANTSSTATE OF PENNSYLVANIA SPONSORED RESEARCH - 105 GRANTSCITY OF PHILADELPHIA CONTRACTS - 19 GRANTSPRIVATE FOUNDATION SPONSORED RESEARCH - 284 GRANTSINDUSTRY SPONSORED RESEARCH - 145 GRANTS
PATIENT CARE/PUBLIC SERVICEIT IS THE COLLEGE'S PATIENT CARE MISSION TO SERVE THE COMMUNITY THROUGH THE DELIVERY OF HIGH-QUALITY, COST-EFFECTIVE HEALTH CARE SERVICES, INCLUDING PROGRAMS OF HEALTH PROMOTION AND DISEASE PREVENTION. ALL CLINICAL SERVICES ARE PROVIDED WITH CAREFUL REGARD FOR THE INDIVIDUAL PATIENT AND THEIR FAMILY. DREXEL UNIVERSITY'S CLINICAL PRACTICES PROVIDE EXCEPTIONAL CARE IN GENERAL INTERNAL MEDICINE, HIV/AIDS, STUDENT HEALTH, ADDICTION MEDICINE, AND PSYCHIATRY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John A Fry President | OfficerTrustee | 40 | $2,037,295 |
Helen Y Bowman Executive Vp/treasurer/coo | Officer | 40 | $880,901 |
Charles Cairns Dean & Svp, Med Affairs Com | Officer | 40 | $714,891 |
Daniel V Schidlow Former Dean Emeritus, College Of Medicine | 40 | $625,635 | |
Paul Jensen SVP & Nina Henderson Provost | Officer | 40 | $595,872 |
David L Unruh SVP Inst Advancement | Officer | 40 | $466,876 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Bsi Construction Llc Construction Services | 6/29/21 | $25,647,225 |
Hunter Roberts Construction Group Llc Construction Services | 6/29/21 | $6,635,624 |
Aramark Services Inc Food Service | 6/29/21 | $6,544,616 |
P Agnes Inc Construction Services | 6/29/21 | $4,443,916 |
Allied Universal Security Services Security Services | 6/29/21 | $5,675,549 |
Statement of Revenue | |
---|---|
Federated campaigns | $6,449 |
Membership dues | $0 |
Fundraising events | $325,422 |
Related organizations | $41,060,567 |
Government grants | $161,501,732 |
All other contributions, gifts, grants, and similar amounts not included above | $38,152,592 |
Noncash contributions included in lines 1a–1f | $1,072,366 |
Total Revenue from Contributions, Gifts, Grants & Similar | $241,046,762 |
Total Program Service Revenue | $1,003,411,076 |
Investment income | $14,164,438 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $929,509 |
Net Rental Income | $3,300,301 |
Net Gain/Loss on Asset Sales | -$33,152,487 |
Net Income from Fundraising Events | -$54,963 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,241,696,208 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $17,560,563 |
Grants and other assistance to domestic individuals. | $405,690,739 |
Grants and other assistance to Foreign Orgs/Individuals | $2,165,994 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $8,467,027 |
Compensation of current officers, directors, key employees. | $5,259,074 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $403,826,379 |
Pension plan accruals and contributions | $8,342,781 |
Other employee benefits | $46,150,004 |
Payroll taxes | $27,791,900 |
Fees for services: Management | $1,404,147 |
Fees for services: Legal | $3,339,603 |
Fees for services: Accounting | $517,566 |
Fees for services: Lobbying | $755,382 |
Fees for services: Fundraising | $201,245 |
Fees for services: Investment Management | $3,560,982 |
Fees for services: Other | $50,233,511 |
Advertising and promotion | $12,160,729 |
Office expenses | $29,680,238 |
Information technology | $20,532,610 |
Royalties | $1,617,033 |
Occupancy | $70,098,230 |
Travel | $1,461,492 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $1,021,286 |
Interest | $19,223,667 |
Payments to affiliates | $5,621,095 |
Depreciation, depletion, and amortization | $49,984,717 |
Insurance | $6,546,142 |
All other expenses | $10,202,171 |
Total functional expenses | $1,249,941,935 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $88,965 |
Savings and temporary cash investments | $86,082,232 |
Pledges and grants receivable | $135,234,941 |
Accounts receivable, net | $78,509,097 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $7,048,205 |
Net Land, buildings, and equipment | $900,708,248 |
Investments—publicly traded securities | $502,046,843 |
Investments—other securities | $492,895,000 |
Investments—program-related | $13,051,787 |
Intangible assets | $0 |
Other assets | $204,615,836 |
Total assets | $2,420,281,154 |
Accounts payable and accrued expenses | $184,573,053 |
Grants payable | $0 |
Deferred revenue | $139,273,833 |
Tax-exempt bond liabilities | $454,657,462 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $104,100,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $198,024,636 |
Total liabilities | $1,080,628,984 |
Net assets without donor restrictions | $592,807,203 |
Net assets with donor restrictions | $746,844,967 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $2,420,281,154 |
Over the last fiscal year, Drexel University has awarded $17,485,280 in support to 118 organizations.
Grant Recipient | Amount |
---|---|
Davis, CA PURPOSE: RESEARCH | $1,840,554 |
Cleveland, OH PURPOSE: RESEARCH | $759,084 |
Philadelphia, PA PURPOSE: RESEARCH | $709,312 |
MEDICAL DECISION LOGIC INC PURPOSE: RESEARCH | $670,000 |
ICF INCORPORATED LLC PURPOSE: RESEARCH | $533,344 |
Los Angeles, CA PURPOSE: RESEARCH | $520,252 |
Over the last fiscal year, we have identified 4 grants that Drexel University has recieved totaling $58,349.
Awarding Organization | Amount |
---|---|
Jts Foundation Berwyn, PA PURPOSE: CHARITABLE ACTIVITIES | $46,500 |
John A & Irene Papines Scholarship Trust Ahepa Nat West Bank Dallas, TX PURPOSE: SCHOLARSHIPS | $5,800 |
Walter L Dickes 5 Nect Pittsburgh, PA PURPOSE: GENERAL SUPPORT | $4,549 |
Eva Anderson Scholarship Tuw 20008616 Dallas, TX PURPOSE: SCHOLARSHIP | $1,500 |
Beg. Balance | $742,896,000 |
Earnings | $171,591,000 |
Net Contributions | $11,173,000 |
Other Expense | $24,193,000 |
Grants | $10,297,000 |
Ending Balance | $891,170,000 |
Organization Name | Assets | Revenue |
---|---|---|
Fordham University Bronx, NY | $2,430,141,698 | $953,892,663 |
Rochester Institute Of Technology Rochester, NY | $2,526,196,996 | $1,071,324,345 |
St Johns University New York Jamaica, NY | $1,703,677,283 | $798,473,536 |
University Of Dayton Dayton, OH | $1,782,604,426 | $747,930,230 |
Villanova University Villanova, PA | $2,287,455,797 | $872,271,471 |
Rensselaer Polytechnic Institute Troy, NY | $1,598,843,813 | $653,047,178 |
Rockefeller University New York, NY | $4,263,008,941 | $535,346,959 |
Lehigh University Bethlehem, PA | $3,057,301,515 | $713,288,867 |
The New School New York, NY | $1,263,076,833 | $558,997,855 |
Hofstra University Hempstead, NY | $1,538,245,078 | $606,887,297 |
American University Of Beirut New York, NY | $1,902,791,001 | $608,300,843 |
Seton Hall University South Orange, NJ | $890,349,000 | $473,034,000 |