Overview
What is Drexel University?
Drexel University, a comprehensive national research institution based in Philadelphia, Pennsylvania, is dedicated to delivering quality undergraduate, graduate, and professional education. With a strong focus on academics, cutting-edge technology, and real-world learning, the university serves both traditional and non-traditional students. Classified as an R1 research university, Drexel boasts a robust research program, reporting 55 new inventions and 31 new US patents in 2022. Organized into 15 colleges and schools, Drexel offers a diverse range of accredited programs, including over 80 bachelor's degrees and over 120 graduate and professional degrees. The university's strategic focus lies in academic excellence, increasing access to education, and enhancing global impact. Over the past 25 years, Drexel has grown to become an economic engine for Philadelphia, generating millions in wage taxes, external funding, and key real estate development projects. Drexel's academic enterprise strengthens the neighborhoods around its campuses, and the university partners with various community organizations and initiatives. The university has fostered an inclusive environment and sets inclusion as a strategic priority. Drexel's mission is to prepare students for productive professional and civic lives while addressing society's greatest problems. The university's cooperative education program and the Drexel Solutions Institute facilitate industry partnerships, providing students with valuable work experiences and connecting businesses to faculty expertise and world-class resources. Drexel's commitment to global engagement has led to an increase in study abroad opportunities and global positions in its cooperative education program. The university has made a strategic commitment to help improve the nation's global competitiveness by increasing students' international engagement and building a global partnership ecosystem. With a total workforce of 11,635, Drexel University is a thriving academic community dedicated to transforming lives and making a positive impact on society.
Official website here: www.drexel.edu
What are the reviews and ratings of this charity?
Charity Navigator Rating 93%
Drexel University has received a Four-Star out of Four Star rating from Charity Navigator, indicating a strong performance in accountability and finance. With an impressive score of 93%, the university demonstrates a commitment to transparency and responsible financial practices, as evidenced by its independent board composition and comprehensive policies related to conflicts of interest and whistleblower protections.
The organization excels in maintaining a high program expense ratio, allocating 87.13% of its expenses directly to programs, which reflects its dedication to fulfilling its educational mission. Additionally, the university has no reported asset diversions, further highlighting its integrity in financial management.
While the liabilities to assets ratio is noted at 53.50%, which could suggest a moderate level of debt, the overall financial health and governance structures appear robust. The emphasis on accountability and oversight positions Drexel University as a reliable institution within the nonprofit sector.
This AI summary has been generated from information found on Charity Navigator.
Is Drexel University legitimate?
Drexel University is a legitimate nonprofit organization registered as a 501(c)(3) entity. Drexel University submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $10,160,398
Professional Fundraising Fees: $462,254
Other Salaries and Wages: $463,900,027
For more financial information, click here
Official website here: www.drexel.edu
What is the mission statement of Drexel University?
Drexel University is committed to realizing its founder's vision of preparing students for successful professional and civic lives while addressing societal challenges. As an academically comprehensive and globally engaged urban research institution, Drexel University strives to advance knowledge and society, providing students with a valuable, rigorous, experiential, and technology-infused education. The university's premier cooperative education program enhances this educational experience, enabling students to apply theoretical knowledge in real-world settings before graduation. Drexel University's mission is to foster each new generation of students and utilize the collective expertise of its faculty and resources to tackle society's greatest problems.
Official website here: www.drexel.edu
What is the revenue of Drexel University?
Drexel University's revenue in 2024 was $1,400,964,891.
Official website here: www.drexel.edu
Who are the executives of Drexel University and what are their salaries?
The average compensation at Drexel University during 2024 was $39,525. There are 11994 employees and 4978 volunteers at Drexel University.
Here are 84 key members and their salaries:
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Official website here: www.drexel.edu
Where can I find the form 990 for Drexel University?
Drexel University's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.drexel.edu
Learn more at the official website: www.drexel.edu
Mission Statement of Drexel University
Drexel University, an academically comprehensive and globally engaged urban research institution, strives to bring each new generation of students into productive professional and civic lives while tackling society's most significant challenges. Founded on the belief that knowledge and society are interconnected, Drexel University is dedicated to advancing both.
In alignment with its founder's vision, Drexel University offers its students a valuable, rigorous, experiential, technology-infused education, enriched by the nation's premier cooperative education program. The university prepares students for the future by integrating academic offerings with advanced technology, real-world experience, and clinical practice. This holistic approach equips students with the skills they need to make a meaningful impact on their communities and in their careers.
Drexel University's mission goes beyond just educating students. It also focuses on addressing the world's most pressing issues by harnessing the collective expertise of its faculty, staff, and students. Through its research initiatives, Drexel University aims to provide innovative solutions to society's most complex problems. By staying committed to its mission, Drexel University continues to contribute to the betterment of society and to empower its students to create positive change in their chosen fields.
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Impact
October, 2024
Drexel University significantly influences both its students and the broader community through its comprehensive and technology-enhanced academic offerings. As a prominent R1 research institution, Drexel is dedicated to providing high-quality education at the undergraduate, graduate, and professional levels across various fields, including arts and sciences, engineering, public health, and business. The university's commitment to real-world learning is exemplified by its renowned cooperative education program, which has prepared students for productive careers for a century.
The university plays a pivotal role in Philadelphia's economy as one of its largest employers, generating substantial wage tax revenue and drawing external research funding. Drexel invests in local schools and supports community organizations, thereby strengthening the neighborhoods surrounding its campuses. Furthermore, it engages actively in initiatives aimed at addressing persistent poverty, exemplified by its leadership in the Federal Promise Zone in West Philadelphia.
Drexel's dedication to inclusion is evident through initiatives like the Center for Black Culture and the Ubuntu Center on Racism, Global Movements and Population Health Equity. These centers strive to foster understanding and respect for diverse backgrounds while addressing public health disparities.
The university is also committed to enhancing global competitiveness and cultural competencies by increasing international engagement through study abroad opportunities and global cooperative education positions. This forward-thinking approach equips students with critical thinking and innovative problem-solving skills essential for success in today's information economy.
Overall, Drexel University’s multifaceted impact encompasses educational excellence, economic contribution, community development, and a commitment to social justice, thus continuing to fulfill its mission of preparing students for civic responsibility and professional success.
This information is meant to be a general summary of Drexel University. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $28,221,625
- Program Service Revenue: $1,102,642,279
- Gross Receipts: $1,498,606,058
Assets and Liabilities:
- Total Assets: $2,419,583,188
- Total Liabilities: $1,144,608,526
- Net Assets: $1,274,974,662
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TUITION AND FEES
Revenue
$1,038,513,084
NON-DIRECT PUB SUPPORT
Revenue
$26,740,095
PATIENT CARE
Revenue
$24,007,650
AUXILIARY ENTERPRISES
Revenue
$13,285,718
OTHER PROGRAM SERVICES
Revenue
$95,732
Organization Details
Founding Year
1894
Phone
(215) 895-2000Principal Officer
John A Fry
Main Address
3141 CHESTNUT ST, PHILADELPHIA, PA, 19104
Website
www.drexel.eduNTEE Category
Code: B43 - Education
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