Civic Intelligence

Drew University

990 • Fiscal year 2015 • EIN 22-1487164

Jul 01, 2014 to Jun 30, 2015 • Filed on May 16, 2016

36 Madison AvenueMadison, NJ 07940

(973) 408-3501

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

44th percentile

0.30x

Higher debt load relative to assets than 44% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Liabilities / Revenue

70th percentile

0.84x

Higher debt load relative to revenue than 70% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Net Margin

41st percentile

4.6%

Higher net margin than 41% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Top Officer Pay

8th percentile

$264,925

Higher top officer pay than 8% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2015

Asset Growth

11th percentile

-5.8%

Faster asset growth than 11% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Revenue Growth

61st percentile

6.8%

Faster revenue growth than 61% of similar nonprofits.

2015 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2014 to 2015

Assets

Flat

$361,439,632

Flat from 2015

Net Assets

Flat

$254,030,143

Flat from 2015

Liabilities

Flat

$107,409,489

Flat from 2015

Revenue

Flat

$128,218,965

Flat from 2015

Expenses

Flat

$122,299,760

Flat from 2015

Net Income

Flat

$5,919,205

Flat from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$400M$300M$200M$100M$0Assets 2011: $386,536,771Liabilities 2011: $111,671,433Net Assets 2011: $274,865,3382011Assets 2012: $367,472,521Liabilities 2012: $114,564,310Net Assets 2012: $252,908,2112012Assets 2013: $377,574,943Liabilities 2013: $109,787,209Net Assets 2013: $267,787,7342013Assets 2014: $383,504,498Liabilities 2014: $111,269,137Net Assets 2014: $272,235,3612014Assets 2015: $361,439,632Liabilities 2015: $107,409,489Net Assets 2015: $254,030,1432015Assets 2015: $361,439,632Liabilities 2015: $107,409,489Net Assets 2015: $254,030,1432015Assets 2016: $327,961,391Liabilities 2016: $102,574,147Net Assets 2016: $225,387,2442016Assets 2017: $308,325,805Liabilities 2017: $100,043,770Net Assets 2017: $208,282,0352017Assets 2018: $305,827,310Liabilities 2018: $117,074,095Net Assets 2018: $188,753,2152018Assets 2019: $293,850,894Liabilities 2019: $103,552,998Net Assets 2019: $190,297,8962019Assets 2020: $267,880,301Liabilities 2020: $103,664,279Net Assets 2020: $164,216,0222020Assets 2021: $268,276,328Liabilities 2021: $100,453,308Net Assets 2021: $167,823,0202021Assets 2022: $245,004,521Liabilities 2022: $92,562,972Net Assets 2022: $152,441,5492022Assets 2023: $233,007,198Liabilities 2023: $90,900,526Net Assets 2023: $142,106,6722023Assets 2024: $220,552,834Liabilities 2024: $91,788,803Net Assets 2024: $128,764,0312024

Highlighted filing

2015

Assets$361,439,632
Liabilities$107,409,489
Net Assets$254,030,143

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$150M$100M$50M$0-$50MExpenses 2011: $124,217,2622011Revenue 2012: $136,025,529Expenses 2012: $122,418,678Net Income 2012: $13,606,8512012Expenses 2013: $121,877,8952013Revenue 2014: $120,056,766Expenses 2014: $120,904,528Net Income 2014: -$847,7622014Revenue 2015: $128,218,965Expenses 2015: $122,299,760Net Income 2015: $5,919,2052015Revenue 2015: $128,218,965Expenses 2015: $122,299,760Net Income 2015: $5,919,2052015Revenue 2016: $139,610,010Expenses 2016: $130,480,435Net Income 2016: $9,129,5752016Revenue 2017: $142,117,168Expenses 2017: $140,479,570Net Income 2017: $1,637,5982017Revenue 2018: $136,503,466Expenses 2018: $139,371,055Net Income 2018: -$2,867,5892018Revenue 2019: $118,535,052Expenses 2019: $134,193,481Net Income 2019: -$15,658,4292019Revenue 2020: $104,896,145Expenses 2020: $125,042,898Net Income 2020: -$20,146,7532020Revenue 2021: $96,034,404Expenses 2021: $110,154,378Net Income 2021: -$14,119,9742021Revenue 2022: $122,404,308Expenses 2022: $122,795,375Net Income 2022: -$391,0672022Revenue 2023: $112,171,400Expenses 2023: $130,091,459Net Income 2023: -$17,920,0592023Revenue 2024: $117,249,894Expenses 2024: $138,305,866Net Income 2024: -$21,055,9722024

Highlighted filing

2015

Revenue$128,218,965
Expenses$122,299,760
Net Income$5,919,205
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
May 16, 2016
Return Version
2014v6.0
Gross Receipts
$236,714,598
Mission and Program Overview

Mission

Drew university, a phi beta kappa liberal arts university, includes the college of liberal arts, the drew theological school, and the caspersen school of graduate studies.continued on schedule o.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$149,057,684$151,121,754▲ $2,064,070
Investments Other Securities$164,121,756$136,121,362▼ $28,000,394
Investments in Publicly Traded Securities$44,423,074$30,234,886▼ $14,188,188
Savings and Temporary Cash Investments$4,984,504$24,247,987▲ $19,263,483
Pledges and Grants Receivable$4,556,878$3,773,104▼ $783,774
Cash and Non-Interest-Bearing Accounts$3,353,453$2,955,888▼ $397,565
Other Notes and Loans Receivable, Net$3,076,985$2,558,646▼ $518,339
Accounts Receivable$1,885,433$2,550,686▲ $665,253
Prepaid Expenses and Deferred Charges$1,348,532$1,075,718▼ $272,814
Inventories for Sale or Use$79,500$76,944▼ $2,556
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$383,504,498$361,439,632▼ $22,064,866
Other Assets Total$6,616,699$6,722,657▲ $105,958
Liabilities
Tax Exempt Bond Liabilities$74,550,843$68,442,259▼ $6,108,584
Other Liabilities$24,087,385$26,802,448▲ $2,715,063
Accounts Payable and Accrued Expenses$5,921,101$6,446,131▲ $525,030
Deferred Revenue$6,709,808$5,718,651▼ $991,157
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$111,269,137$107,409,489▼ $3,859,648
Net Assets / Fund Balance
Permanently Rstr Net Assets$94,226,602$98,871,501▲ $4,644,899
Temporarily Rstr Net Assets$105,490,009$97,946,931▼ $7,543,078
Unrestricted Net Assets$72,518,750$57,211,711▼ $15,307,039
Total Net Assets Fund Balance$272,235,361$254,030,143▼ $18,205,218
Total Liabilities and Net Assets / Fund Balance$383,504,498$361,439,632▼ $22,064,866

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$116,007,518$117,281,829$233,289,347
Equipment$11,991,813$12,474,004$24,465,817
Other Land Buildings$10,554,327$10,941,798$21,496,125
Land$12,568,096-$12,568,096
Other Securities$4,598,964--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$199,411,000$4,985,000▲ $3,266,000-$197,261,000
2013$187,328,000$1,982,000▲ $20,152,000-$199,411,000
2012$175,774,000$1,074,000▲ $21,595,000-$187,328,000
2011$193,928,000$891,000▼ $7,559,000-$175,774,000
2010$169,483,000$4,353,000▲ $32,741,000-$193,928,000
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Maryann BaenningerPresident Beg. 7/21/14FT$204,575$60,350$264,925
Kenneth AlexoVP AdvancementFT$214,514$37,635$252,149
Michael GroenerCFO & VP FinanceFT$201,323$49,929$251,252
Margaret HowardVP of AdministrationFT$209,810$39,459$249,269
Mark KopenskiVP Enrollment ManagementFT$182,498$61,620$244,118
Sara WaldronInterim VP Stu. LifeFT$207,686$24,811$232,497
Joseph KellyAvp Finance/treasurerFT$163,369$23,472$186,841
Christopher TaylorInterim Dean of CLAFT$144,843$36,440$181,283
Vivian BullPresident Through 7/18/14FT$130,583$47,060$177,643
Robert ReadyDean Grad SchoolFT$144,674$28,800$173,474
Michael KopasAvp Fac & OperationsFT$124,895$37,010$161,905
William BrownDirector of Legal AffairsFT$145,000$12,638$157,638
Jason FeinDirector of AthleticsFT$123,737$32,001$155,738
William SchulzDirector Enterprise AppsFT$123,380$25,112$148,492
Andrew ScrimgeourDean of the LibrariesFT$136,336$10,920$147,256
Virginia Samuel CetukInter. Dean Theo Thru 7/18/14FT$22,281$81,865$104,146
Javier VieraDean of Theo School Beg.7/1/14FT$64,932$27,212$92,144
Marti WinerChief of Staff Beg. 12/1/14FT$16,200-$16,200

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
AramarkFood Service135 NEW ROAD, Madison, NJ 07940$3,953,591
Aramark Higher EdGrounds Maintenance24818 Network Pl, Chicago, IL 60673$1,855,968
Leegis GroupConstruction2333 US HWY 22, Union, NJ 07083$1,609,124
A-l ServicesLandscapingPO BOX 6391 LITTLETON RD, Parsippany, NJ 07054$1,103,724
Bravo Building Services INCCleaning Maintenance29 KING GEORGE ROAD, Greenbrook, NJ 08812$889,640
Revenue and Support

Revenue Composition

Contributions and Grants
$14,081,795
Program Service Revenue
$86,337,227
Investment Income
$25,830,535
Other Revenue
$1,969,408
All Other Contributions
$12,763,304
Change in Net Assets
$5,919,205

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded32$757,676Fair Market Value (FMV)
Other Non Cash Contri Table3$45,596Fair Market Value (FMV)
Total Noncash Contributions35$803,272-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$45,545,139
Other Expenses$40,734,146
Grants and Similar Amounts Paid$36,020,475
Total Fundraising Expense$3,340,514
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$36,020,475--$36,020,475
Other Salaries and Wages$26,140,902$5,467,240$1,603,579$33,211,721
Occupancy$8,735,023$818,994$2,867$9,556,884
Depreciation Depletion$8,967,763$467,910$57,338$9,493,011
Other Employee Benefits$4,070,955$786,156$284,831$5,141,942
Fees for Service Investment Mgmnt Fees-$2,837,707-$2,837,707
Current Officers, Directors, Trustees, and Key Employees$1,578,550$827,696$350,544$2,756,790
Interest$2,613,003--$2,613,003
Payroll Taxes$1,868,856$390,839$130,757$2,390,452
Pension Plan Contributions$1,706,058$205,513$119,368$2,030,939
All Other Expenses$1,683,286$164,238$133,665$1,981,189
Other Expenses$548,278$1,028,225$50,435$1,626,938
Information Technology$1,289,193$99,906$39,788$1,428,887
Travel$975,036$47,482$81,713$1,104,231
Office Expenses$636,947$247,174$66,547$950,668
Fees for Services Other$306,420$449,065$171,377$926,862
Conferences and Meetings$663,586$27,799$205,353$896,738
Insurance-$738,856-$738,856
Fees for Services Legal$15,617$222,450-$238,067
Fees for Services Accounting-$96,600-$96,600
Fees for Services Lobbying-$70,673-$70,673
Comp Disqual Persons-$13,295-$13,295
Total Functional Expenses$103,873,245$15,086,001$3,340,514$122,299,760
International Activity

International Summary

Spending
$55,085,578

International Compliance

Activity in boycott countries
Yes
Foreign corporation ownership
Yes
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
Yes
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments---$55,085,578
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$95,343
Fundraising Gross Income$62,950
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Green Golf$106,186$53,750$2,117$51,633
Crcc Gala$57,575$9,200$11,326$-2,126
Total Events$163,761$62,950$95,343$-32,393
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
John S NortonSee Part VCompensationNo$13,295

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Post Retirement Benefits$17,208,436
Asset Retirement Obligations$4,489,769
Federal Student Loan Funds$2,000,764
Annuity Liability$1,235,196
Student Security Deposits$1,175,873
Obligations Under Capital Leas$692,410

Bond Issues

BondIssuerIssuedIssue PricePurpose
BNj Edu Fac Auth Drew 2007 Series D2007-04-12$30,557,236Advance refunding & new money 1998
ANj Edu Fac Auth Drew 2003 Series C2003-05-29$22,872,229CAPITAL IMPROVEMENTS
CNj Edu Fac Auth Cif Series 2014 B2014-04-29$19,369,367Advance refunding of 2004 bond
ANj Edu Fac Auth Drew 2010 C1 C2 C32010-11-15$15,580,000Advance refunding and new money
DNj Edu Fac Auth Drew 2008 Series I2011-06-27$12,000,000CAPITAL IMPROVEMENTS
CNj Edu Fac Auth Drew 2008 Series B2008-04-04$11,353,764CURRENT REFUNDING 1998
BNj Edu Fac Auth Elf Series 2014 B2014-01-30$8,131,497New money-capital expenditures

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$32,316,540$4,858,329$2,215,000$436,514
A$23,666,739$0$5,225,000$391,128
A$16,286,213$3,915,376$150,000$164,624
D$12,000,000$0$5,738,013$46,000
C$3,220,487$0$0$18,845
B$703,754$0$11,754$4,773
C$0$11,240,188$7,465,000$142,730

Bond Financing Compliance

No rebate due
Yes
Rebate not yet due
No
Form 8038-T filed
Yes
Gross proceeds invested
Yes
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
Yes
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Drew University
EIN
22-1487164
In Care Of
% MICHAEL GROENER
Phone
9734083501
Address
36 MADISON AVENUE, MADISON, NJ 07940

Signing Officer

Name
Michael Groener
Title
CFO & VP Finance
Phone
9734083501
Signed
2016-05-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr MARYANN BAENNINGER
Formed
1868
Legal Domicile
Nj
Voting Board Members
30
Independent Board Members
28
Employees
1,674
Volunteers
29

Preparer

Firm
Kpmg Llp
Address
345 Park Avenue, New York, NY 10154-0102
Preparer
devin l duncan
Phone
2127589700
Supplemental Narrative

Additional Explanations

Mission Statement

Form 990, part iii, line 1 drew university's mission is to offer its diverse community of learners a challenging and individualized education shaped by a deep-rooted culture of mentoring, thoughtful engagement with the world beyond its campus, and a steadfast commitment to lifelong cultivation of the whole person. Through its distinctive emphasis on the reciprocity of knowledge, experience, and service, drew prepares its students to flourish both personally and professionally as they add to the world's good by responding to the urgent challenges of our time with rigorous, independent, and imaginative thought.

Exempt Purpose Achievements

FORM 990, PART III Consisting of the College of Liberal Arts, the Drew Theological School and the Caspersen School of Graduate Studies, Drew University has a total enrollment of approximately 2,370 students. (1,580 in the College of Liberal Arts, 350 in the Caspersen School and 440 in the Theological School.) The Theological and Caspersen schools offer degrees at the M.A. and Ph.D. levels, while the College annually confers B.A. degrees in 30 different disciplines.

Exempt Purpose Achievements

Form 990, part iii, question 4b 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. 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.

Exempt Purpose Achievements

Form 990, part iii, question 4c 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. 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. Exempt purpose achievements form 990, part iii, question 4d amounts listed on line 4d represent expenses and revenues related to other programs which further the organization's exempt purpose. Other program expenses reflect educational program expenses not directly related to one of the 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 the university's continuing education and summer programs.

Donor Acknowledgement

Form 990, part v, question 7b drew university notifies the donor of the breakout between any goods and services received and their donation amount. If no goods and service were received, we then notify the donor of that too.

990 Review Policy

Form 990, part vi, question 11b all members of the board of trustees were provided with a copy of form 990 via the trustee web-site prior to its filing with the irs.

Conflict of Interest Policy

Form 990, part vi, question 12c all decisions of the board of trustees, officers and employees of drew university are to be made solely on the basis of a desire to promote the best interests of the university. It is therefore the policy of the board and the university: 1. That all activities or behavior which conflict with the best interests of the university are prohibited. This could include but would not be limited to: a) use of university resources. For a university trustee, officer or employee to make improper use of any university resources, including the services of university employees, for his or her own personal benefit. B) compliance with rules. For a university trustee, officer, or employee to fail to comply with the university's duly established rules, regulations or standards of personal behavior. C) disclosure of confidential information. For a university trustee, officer, or employee, without proper authority, to give or release to anyone not authorized to receive such information, any data of a confidential nature secured through his or her relationship to the university. D) acceptance of gifts. For a university trustee, officer or employee, or any dependent member of his or her immediate family to accept from any organization or person that they know to be doing or seeking to do business with the university, a loan or a gift or favor of more than nominal value. This paragraph shall not be deemed to prohibit loans made in the normal course of business with the terms standard for such loans from banks or financial institutions that may have or expect to have relations with the university. E) competition with the university. For a university trustee or officer, directly or through a corporation in which he or she has a substantial interest, to engage in for remuneration any other activity which is in direct competition with the university, except with the knowledge and written consent of the president or the president's designee. If the activity is that of the president such consent must be given by the chair of the board. 2. That, in the event that the board or a university officer shall be called upon to consider a transaction involving the university and (i) a member of the board or any officer of the university (or a member of his or her immediate family), or (ii) an organization with which a member of the board or any officer of the university is "affiliated," such trustee or officer, as soon as he or she has knowledge of the transaction, shall: (a) disclose fully the precise nature of his or her interest or involvement in such transaction and/or such organization; and (b) refrain from participation in the university's consideration of the proposed transaction. For the purposes of this conflict-of-interest policy, a trustee or officer is "affiliated" with any organization of which he or she (or a member of his or her immediate family) is an employee, general partner, member of the board of directors, trustee, or in which he or she (or a member of his or her immediate family) owns 10% or more of the outstanding stock. 3. That the following persons disclose to the university on a continuing basis all their relationships and business affiliations that reasonably could give rise to a conflict of interest, or the appearance of a conflict of interest, involving the university: the trustees (including the president); the vice presidents of the university; the deans; and such other officers as the president shall designate as being officers from whom, because of their respective duties and responsibilities, the university should receive a continuing disclosure of such outside relationships and business affiliations. All disclosures required to be made hereunder must be directed in writing to the executive committee of the board of trustees which shall have, with the assistance of the vice president of administration and of the vice president for finance and business affairs, the responsibility for monitoring of thi

Officer Compensation Review

Form 990, part vi, question 15a & 15b compensation for the president, other officers and key employees is determined by the drew board of trustees on the recommendation of the board's executive compensation committee. No individuals with a conflict of interest may be involved in the compensation determination process. Comparability data for similarly qualified persons in functionally comparable positions at similar organizations is prepared by the organization and reviewed by the board's executive compensation committee. The minutes of the board of trustees and its executive compensation committee document the board's and committee's deliberations and decisions regarding compensation. Compensation reviews take place in may of each year. The most recent compensation review was in may 2015. The benchmark data is derived from a custom report provided by the college and university personnel association {cupa). The university maintains a list of about 68 institutions that are similar to drew in size, scope and operating budget. Mean and median salaries for positions that are comparable to drew's administrative officers are derived from the data provided by cupa and to determine the benchmark. The benchmark is used by the committee to determine the appropriateness of current salaries, salary increases and salaries of new executive hires.

Document Review Policy

Form 990, part vi, question 19 drew university makes its governing documents, form 990 and financial statements available upon request.

University President

Form 990, part vii dr. Maryann baenninger began working as the university's president in july 2014. Dr. Baenninger succeeds dr. Vivian a. Bull who served as interim president from july 2012 to july 2014.

Other Changes in Net Assets

Form 990, part xi, line 9 other changes change in fair value of trusts, pooled income funds and gift annuities..............................................(756,787) pension - related charges other than net periodic pension cost......................................................(3,114,276) ------------ total.....................................................(3,871,063)

Financial Statement Notes

Intended Uses of Endowment Funds

Schedule d, part v, line 4 the intended use of drew university endowment funds is principally to accomplish the following: endowment funds are to be held in perpetuity and to provide for the generation of investment income through strategic investing as approved by the board of trustees investment committee. This investment income is used to provide support of the university's education mission statement as described on page two, part iii of form 990, commensurate with the donor and board specific instructions on how the funds are to be used.

Fin 48

SCHEDULE D, PART X, line 2 DREW UNIVERSITY AND ITS WHOLLY OWNED SUBSIDIARY, UHP, ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. CBCA IS EXEMPT UNDER THE NEW JERSEY NONPROFIT CORPORATION ACT, TITLE 15A OF THE NEW JERSEY STATUSES ANNOTATED. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THERE ARE CERTAIN TRANSACTIONS THAT COULD BE DEEMED UNRELATED BUSINESS INCOME AND WOULD RESULT IN A TAX LIABILITY. MANAGEMENT REVIEWS TRANSACTIONS TO ESTIMATE POTENTIAL TAX LIABILITIES USING A THRESHOLD OF MORE LIKELY THAN NOT. IT IS MANAGEMENT'S ESTIMATION THAT THERE ARE NO MATERIAL TAX LIABILITIES THAT NEED TO BE RECORDED.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0THE 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.
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IRS990/Desc0THE 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.
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IRS990/Form990PartVIISectionAGrp/PersonNm10WILLIAM M FREEMAN
IRS990/Form990PartVIISectionAGrp/PersonNm11FREDRICK FUEST
IRS990/Form990PartVIISectionAGrp/PersonNm12GATES H HAWN
IRS990/Form990PartVIISectionAGrp/PersonNm13PEGGY A JOHNSON
IRS990/Form990PartVIISectionAGrp/PersonNm14WILLIAM T KNOX
IRS990/Form990PartVIISectionAGrp/PersonNm15WILLIAM W LANDIS III
IRS990/Form990PartVIISectionAGrp/PersonNm16HWAIN C LEE
IRS990/Form990PartVIISectionAGrp/PersonNm17KEVIN H MARINO
IRS990/Form990PartVIISectionAGrp/PersonNm18MARTIN MCLEE
IRS990/Form990PartVIISectionAGrp/PersonNm19BETSY S MICHEL
IRS990/Form990PartVIISectionAGrp/PersonNm20EDWARD MOED
IRS990/Form990PartVIISectionAGrp/PersonNm21LAWRENCE G MORRIS
IRS990/Form990PartVIISectionAGrp/PersonNm22JEFFREY B NOSS
IRS990/Form990PartVIISectionAGrp/PersonNm23ERIC PURCELL
IRS990/Form990PartVIISectionAGrp/PersonNm24JOHN SCHOL
IRS990/Form990PartVIISectionAGrp/PersonNm25CHRIS SMITH
IRS990/Form990PartVIISectionAGrp/PersonNm26SUZANNE MERTZ SPERO
IRS990/Form990PartVIISectionAGrp/PersonNm27GARY S STEIN
IRS990/Form990PartVIISectionAGrp/PersonNm28JENNIFER VELEZ
IRS990/Form990PartVIISectionAGrp/PersonNm29PAULINE WARDELL-SANKOH
IRS990/Form990PartVIISectionAGrp/PersonNm30MARYANN BAENNINGER
IRS990/Form990PartVIISectionAGrp/PersonNm31VIVIAN BULL
IRS990/Form990PartVIISectionAGrp/PersonNm32KENNETH ALEXO
IRS990/Form990PartVIISectionAGrp/PersonNm33MICHAEL GROENER
IRS990/Form990PartVIISectionAGrp/PersonNm34MARGARET HOWARD
IRS990/Form990PartVIISectionAGrp/PersonNm35MARK KOPENSKI
IRS990/Form990PartVIISectionAGrp/PersonNm36ROBERT READY
IRS990/Form990PartVIISectionAGrp/PersonNm37VIRGINIA SAMUEL CETUK
IRS990/Form990PartVIISectionAGrp/PersonNm38ANDREW SCRIMGEOUR
IRS990/Form990PartVIISectionAGrp/PersonNm39CHRISTOPHER TAYLOR
IRS990/Form990PartVIISectionAGrp/PersonNm40JAVIER VIERA
IRS990/Form990PartVIISectionAGrp/PersonNm41SARA WALDRON
IRS990/Form990PartVIISectionAGrp/PersonNm42MARTI WINER
IRS990/Form990PartVIISectionAGrp/PersonNm43ROBERT MASSA
IRS990/Form990PartVIISectionAGrp/PersonNm44KIRA POPLOWSKI
IRS990/Form990PartVIISectionAGrp/PersonNm45WILLIAM BROWN
IRS990/Form990PartVIISectionAGrp/PersonNm46JASON FEIN
IRS990/Form990PartVIISectionAGrp/PersonNm47JOSEPH KELLY
IRS990/Form990PartVIISectionAGrp/PersonNm48MICHAEL KOPAS
IRS990/Form990PartVIISectionAGrp/PersonNm49WILLIAM SCHULZ
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$221$91.8$129$117$138$21.1
2023Summary only. Only limited summary data is available for this year.$233$90.9$142$112$130$17.9
2022Summary only. Only limited summary data is available for this year.$245$92.6$152$122$123$0.39
2021Summary only. Only limited summary data is available for this year.$268$100$168$96.0$110$14.1
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$268$104$164$105$125$20.1
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$294$104$190$119$134$15.7
2018Summary only. Only limited summary data is available for this year.$306$117$189$137$139$2.87
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$308$100$208$142$140$1.64
2016Detailed filing. Detailed filing data is available for this year.$328$103$225$140$130$9.13
2015Detailed filing. Detailed filing data is available for this year.$361$107$254$128$122$5.92
2015Summary only. Only limited summary data is available for this year.$361$107$254$128$122$5.92
2014Detailed filing. Detailed filing data is available for this year.$384$111$272$120$121$0.85
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$378$110$268$122
2012Summary only. Only limited summary data is available for this year.$367$115$253$136$122$13.6
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$387$112$275$124