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 06/2022, Drexel University employed 11,635 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 7 years, revenues have fallen by an average of (0.6%) 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 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Drexel University has awarded 846 individual grants totaling $119,302,280. 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
990
Mission & Program ActivityExcerpts From the 990 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:
Part 3 - Line 4a
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 IS CLASSIFIED AS AN R1 RESEARCH UNIVERSITY 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 55 TOTAL NEW INVENTIONS AND RECEIVED 31 NEW UNITED STATES PATENTS IN FISCAL YEAR 2022.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, THE 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 EQUITY TO 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. THE UNIVERSITY ESTABLISHED THE DREXEL 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. DREXEL'S OFFICE OF GLOBAL ENGAGEMENT WORKS TO ADDRESS THE GREATEST CHALLENGES TODAY - SUCH AS URBAN SUSTAINABILITY, ENERGY, WATER CONSERVATION, AND PUBLIC HEALTH - BY BUILDING AN ECOSYSTEM OF GLOBAL PARTNERSHIPS AND PROGRAMS THAT FOCUS ON FACILITATING PRODUCTIVE, MUTUALLY BENEFICIAL OPPORTUNITIES.UNDERGRADUATE ENROLLMENT FOR ACADEMIC YEAR 2021-2022 = 14,367GRADUATE AND PROFESSIONAL ENROLLMENT FOR ACADEMIC YEAR 2021-2022 = 8,850 NUMBER OF DEGREES CONFERRED IN ACADEMIC YEAR 2021-2022: ASSOCIATE DEGREES = 0 BACHELOR'S DEGREES = 3,441 MASTER'S DEGREES = 2,194 DOCTORAL DEGREES = 729 CERTIFICATES AND OTHER = 467
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. THE UNIVERSITY 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 IS CREATING AN ECOSYSTEM OF INNOVATION IN AND AROUND UNIVERSITY CITY, WHILE DELIVERING ON ITS PUBLIC PURPOSE AS AN ANCHOR INSTITUTION FOR PHILADELPHIA. THIS ECOSYSTEM WILL ULTIMATELY BENEFIT STUDENTS, THROUGH CO-OPS AND CAREER OPPORTUNITIES; FACULTY, THROUGH COLLABORATIVE RESEARCH AND TRAINING; AND THE SURROUNDING COMMUNITY, THROUGH THE CREATION OF PIPELINES TO EMPLOYMENT.THIS COMMITMENT IS AT THE HEART OF SCHUYLKILL YARDS, A $3.5 BILLION MIXED-USE PROJECT WITH DEVELOPMENT PARTNER BRANDYWINE REALTY TRUST ON UNIVERSITY REAL ESTATE ADJACENT TO PHILADELPHIA'S AMTRAK 30TH STREET STATION. IN PARTNERSHIP WITH WEXFORD SCIENCE AND TECHNOLOGY, DREXEL IS ALSO EXTENDING UCITY SQUARE, A MULTI-BILLION-DOLLAR DEVELOPMENT, THROUGH A FACILITY THAT HOUSES K-8 PUBLIC SCHOOLS AND AN ACADEMIC BUILDING THAT WILL RELOCATE THE COLLEGE OF MEDICINE AND COLLEGE OF NURSING AND HEALTH PROFESSIONS TO THE UNIVERSITY CITY CAMPUS.MOST RECENTLY, SPARK THERAPEUTICS ANNOUNCED PLANS TO INVEST $575 MILLION IN THE CREATION OF A NEW, STATE-OF-THE-ART GENE THERAPY INNOVATION CENTER ON DREXEL'S CAMPUS. AND THROUGH A PARTNERSHIP WITH GATTUSO DEVELOPMENT PARTNERS, THE CAMPUS WILL ALSO BOAST WHAT IS EXPECTED TO BECOME THE CITY'S LARGEST LIFE SCIENCES RESEARCH AND LABORATORY BUILDING.DURING FY22, DREXEL UNIVERSITY CONDUCTED RESEARCH ON THE FOLLOWING RESEARCH GRANTS:FEDERALLY SPONSORED RESEARCH - 904 GRANTSSTATE OF PENNSYLVANIA SPONSORED RESEARCH - 104 GRANTSCITY OF PHILADELPHIA CONTRACTS 23 GRANTSPRIVATE FOUNDATION SPONSORED RESEARCH - 275 GRANTSINDUSTRY SPONSORED RESEARCH - 95 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 | $2,584,592 |
Alfred F Altomari Trustee | Trustee | 2 | $0 |
Chris Mckendry Andrade Trustee | Trustee | 2 | $0 |
Michael Barry Trustee | Trustee | 2 | $0 |
Jeffrey A Beachell Trustee | Trustee | 2 | $0 |
James Bean Trustee | Trustee | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Aramark Services Inc Food Service | 6/29/22 | $9,270,188 |
Bsi Construction Llc Construction Services | 6/29/22 | $7,237,505 |
Allied Universal Security Services Security Services | 6/29/22 | $5,797,228 |
Mckinsey & Company Inc United States Consulting Services | 6/29/22 | $3,850,000 |
Levlane Advertising Inc Consulting Services | 6/29/22 | $3,464,382 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $241,046,762 |
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 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 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 | $0 |
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 |
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 | $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 | $1,339,652,170 |
Over the last fiscal year, Drexel University has awarded $21,871,476 in support to 132 organizations.
Grant Recipient | Amount |
---|---|
CLARITY ASSESSMENT SYSTEMS LTD PURPOSE: RESEARCH | $124,041 |
21ST CENTURY PARTNERSHIP FOR STEM EDUCATION PURPOSE: RESEARCH | $192,520 |
100 BLACK MEN OF AMERICA INC PURPOSE: RESEARCH | $53,984 |
APEX MILLS CORPORATION PURPOSE: RESEARCH | $171,882 |
AAPLASMA PURPOSE: RESEARCH | $92,507 |
ARXIS LEAGUE INC PURPOSE: RESEARCH | $142,000 |