DREXEL UNIVERSITY

Financials

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

Address and contacts

Address (IRS master file)

3201 ARCH ST STE 400, PHILADELPHIA, PA 19104-2755

In care of

% DONNA L MANN

Mailing address (990-N for 2011)

3141 Chestnut Street, Philadelphia PA 19104

Principal officer (990 for 2024)

ANTONIO MERLO, 3141 CHESTNUT ST, PHILADELPHIA, PA 19104

Principal officer (990-N for 2011)

J Richard Weggel Chapter Advisor, 3141 Chestnut Street, Philadelphia PA 19104

Signed the 990

HELEN Y BOWMAN, EXEC VP, COO, CFO, & TREASURER

Phone

(215) 895-2000

Website

WWW.DREXEL.EDU

Mission

DREXEL UNIVERSITY FULFILLS ITS FOUNDER'S VISION OF PREPARING EACH NEW GENERATION OF STUDENTS FOR PRODUCTIVE PROFESSIONAL AND CIVIC LIVES WHILE ALSO FOCUSING ITS COLLECTIVE EXPERTISE ON SOLVING SOCIETY'S GREATEST PROBLEMS. DREXEL IS AN ACADEMICALLY COMPREHENSIVE AND GLOBALLY ENGAGED URBAN RESEARCH UNIVERSITY, DEDICATED TO ADVANCING KNOWLEDGE AND SOCIETY AND TO PROVIDING EVERY STUDENT WITH A VALUABLE, RIGOROUS, EXPERIENTIAL, TECHNOLOGY-INFUSED EDUCATION, ENRICHED BY THE NATION'S PREMIER CO-OPERATIVE EDUCATION PROGRAM.

Program accomplishments

• 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. DREXEL 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. DREXEL DISCLOSED 56 NEW INVENTIONS AND RECEIVED 25 NEW UNITED STATES PATENTS IN FISCAL YEAR 2025. 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 100 BACHELOR'S DEGREE PROGRAMS AND MORE THAN 120 GRADUATE AND PROFESSIONAL DEGREE PROGRAMS ORGANIZED IN 17 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; 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; DANA AND DAVID DORNSIFE SCHOOL OF PUBLIC HEALTH; SCHOOL OF ECONOMICS; GRADUATE SCHOOL OF BIOMEDICAL SCIENCES AND PROFESSIONAL STUDIES AND PENNSYLVANIA COLLEGE OF OPTOMETRY.MOST RECENTLY, FOLLOWING APPROVAL FROM THE MIDDLE STATES COMMISSION ON HIGHER EDUCATION (MSCHE) ACCREDITING BODY AND THE U.S. DEPARTMENT OF EDUCATION, DREXEL COMPLETED A MERGER WITH SALUS UNIVERSITY THAT BRINGS TOGETHER THE COMPLEMENTARY STRENGTHS OF BOTH INSTITUTIONS IN GRADUATE HEALTH SCIENCES EDUCATION, RESEARCH, AND CLINICAL PRACTICE. THE MERGER STRENGTHENS DREXEL'S PLACE AS A LEADER IN PREPARING FUTURE INTERPROFESSIONAL HEALTH SCIENCES PRACTITIONERS BY ADDING RENOWNED SALUS GRADUATE DEGREE PROGRAMS SUCH AS OPTOMETRY, AUDIOLOGY, BLINDNESS AND LOW VISION STUDIES, SPEECH-LANGUAGE PATHOLOGY, OCCUPATIONAL THERAPY, AND ORTHOTICS AND PROSTHETICS. IN ADDITION, THE MERGER WITH SALUS EXPANDS DREXEL'S PHYSICIAN ASSISTANT PROGRAM, GRADUATE ENROLLMENT, AND PROMOTE INTERDISCIPLINARY RESEARCH OPPORTUNITIES IN NEW AREAS.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. 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 HAS LED AND SUPPORTED A NUMBER OF PROJECTS THAT BRING RESOURCES TO THE COMMUNITY. THIS INCLUDES WORKING TO BRING GRANTS TO SUPPORT LOCAL SCHOOLS AND EARLY CHILDHOOD EDUCATION IN WEST PHILADELPHIA. THE UNIVERSITY ESTABLISHED ITS DIGITAL NAVIGATORS PROGRAM IN 2021 TO PROVIDE ACCESS TO LOW-COST INTERNET, DEVICES AND DIGITAL SKILLS TRAINING TO COMMUNITY MEMBERS WHO ARE LACKING ACCESS. DREXEL IS CURRENTLY RENOVATING THE FORMER WEST PHILADELPHIA COMMUNITY CENTER TO PRESERVE ITS LONGSTANDING ROLE IN SERVING THE LOCAL NEIGHBORHOOD WITH PUBLICLY ACCESSIBLE PROGRAMS AND ACTIVITIES. AS PART OF ITS "ACADEMIC TRANSFORMATION" INITIATIVE, DREXEL IS REIMAGINING THE INSTITUTION'S FUTURE THROUGH THE INTEGRATION OF PROGRAMS AND SCHOOLS AND A REDESIGN OF CURRICULUM AROUND CORE COMPETENCIES. DREXEL IS ALSO TRANSITIONING TO A SEMESTER SYSTEM. THIS SHIFT WILL PROVIDE STUDENTS WITH EVEN GREATER FLEXIBILITY AS THEY PURSUE CO-OP AND EXPERIENTIAL LEARNING OPPORTUNITIES. DRIVING THESE EFFORTS IS THE UNIVERSITY'S STEADFAST COMMITMENT TO DELIVERING A STUDENT-CENTERED, WORLD-CLASS EDUCATION - ONE THAT'S DEEPLY EXPERIENTIAL AND DESIGNED TO GIVE STUDENTS A POWERFUL HEAD START BEFORE THEY GRADUATE.DREXEL IS AN INSTITUTION THAT STANDS APART WITHIN THE HIGHER EDUCATION SECTOR BECAUSE EXPERIENTIAL EDUCATION HAS BEEN AT ITS CORE SINCE ITS FOUNDING IN 1891. BECAUSE OF THIS, DREXEL IS ONE OF A SMALL NUMBER OF UNIVERSITIES LEADING THE WAY AS THE SECTOR SHIFTS TO FOCUS ON RETURN ON INVESTMENT AND OTHER POSITIVE STUDENT OUTCOMES THAT EXPERIENTIAL EDUCATION HAS SHOWN TO PROVIDE. ABOUT 95 PERCENT OF STUDENTS PARTICIPATE IN CO-OP OPPORTUNITIES OR OTHER EXPERIENTIAL LEARNING, AND DREXEL GRADUATES RANK IN THE TOP 3 PERCENT NATIONWIDE FOR LIFETIME EARNINGS.EXPANDING ON THIS MODEL, THE UNIVERSITY ANNOUNCED THE LAUNCH OF AN EXPERIENTIAL EDUCATION HUB, A VISIONARY STEP THAT PROVIDES STUDENTS WITH AN ENHANCED OPPORTUNITY TO IMMEDIATELY APPLY THEIR EDUCATION TO THE REAL WORLD. THIS HUB WILL CLOSELY ALIGN THE UNIVERSITY'S FLAGSHIP CO-OP PROGRAM AND OTHER EXPERIENTIAL LEARNING OPPORTUNITIES INCLUDING RESEARCH, CIVIC ENGAGEMENT, GLOBAL EXPERIENCES AND PROJECT-BASED LEARNING WITH DREXEL'S ACADEMIC ENTERPRISE. AS AN IMPORTANT FIRST STEP IN CONNECTING ALL THESE EXPERIENCES, THE UNIVERSITY IS BRINGING TOGETHER - WITHIN THE OFFICE OF THE PROVOST - DREXEL GLOBAL AND THE STEINBRIGHT CAREER DEVELOPMENT CENTER. DREXEL HAS MADE A STRATEGIC COMMITMENT TO HELP IMPROVE THE NATION'S GLOBAL COMPETITIVENESS BY INCREASING STUDENTS' INTERNATIONAL ENGAGEMENT TO BUILD CULTURAL COMPETENCIES. DREXEL GLOBAL WORKS WITH UNITS ACROSS THE UNIVERSITY TO BUILD AN ECOSYSTEM OF GLOBAL PARTNERSHIPS AND PROGRAMS BOTH ON AND OFF CAMPUS THROUGH DREXEL'S TRADEMARK PROGRAMS IN CO-OP, EDUCATION ABROAD, RESEARCH PARTNERSHIPS AND INDUSTRY RELATIONS.UNDERGRADUATE ENROLLMENT FOR ACADEMIC YEAR 2024-2025 = 13,282GRADUATE AND PROFESSIONAL ENROLLMENT FOR ACADEMIC YEAR 2024-2025 = 7,871 NUMBER OF DEGREES CONFERRED IN ACADEMIC YEAR 2024-2025: ASSOCIATE DEGREES = 0 BACHELOR'S DEGREES = 2,830 MASTER'S DEGREES = 2,043 DOCTORAL DEGREES = 820 CERTIFICATES AND OTHER = 495LEADERSHIP:FOLLOWING A UNANIMOUS VOTE BY DREXEL UNIVERSITY'S BOARD OF TRUSTEES, POLITICAL ECONOMIST AND ACADEMIC, ANTONIO MERLO, PHD, WAS CONFIRMED ON JANUARY 31, 2025 AS THE 16TH PRESIDENT IN THE UNIVERSITY'S 133-YEAR HISTORY. MERLO, FORMER ANNE AND JOEL EHRENKRANZ DEAN OF NEW YORK UNIVERSITY'S FACULTY OF ARTS & SCIENCE, SUCCEEDED INTERIM PRESIDENT DENIS P. O'BRIEN AND BEGAN HIS TENURE AT DREXEL ON JULY 1, 2025.A HIGHLY ACCOMPLISHED SCHOLAR, MERLO IS RECOGNIZED AS AN ADMINISTRATOR WHO LEVERAGES ACADEMIC STRENGTHS, FOSTERS COMMUNITY, AND PROMOTES SCHOLARSHIP AND COLLABORATION ACROSS DEPARTMENTS. HE HAS REINFORCED DREXEL'S COMMITMENT TO PROVIDING A STUDENT-FOCUSED, TOP-TIER EDUCATION THAT EMPHASIZES REAL-WORLD EXPERIENCE AND GIVES STUDENTS A STRONG ADVANTAGE BEFORE THEY GRADUATE.
  Expenses $1,061,601,628 · grants $425,377,015 · revenue $1,111,509,131
• 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. 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 RELOCATED THE COLLEGE OF MEDICINE AND COLLEGE OF NURSING AND HEALTH PROFESSIONS TO THE UNIVERSITY CITY CAMPUS.MOST RECENTLY, SPARK THERAPEUTICS BROKE GROUND ON A $575 MILLION STATE-OF-THE-ART GENE THERAPY INNOVATION CENTER ON DREXEL'S CAMPUS. THROUGH A PARTNERSHIP WITH GATTUSO DEVELOPMENT PARTNERS, THE CAMPUS WILL ALSO BOAST WHAT IS EXPECTED TO BECOME THE CITY'S LARGEST LIFE SCIENCES FACILITY.DURING FY25, DREXEL UNIVERSITY CONDUCTED RESEARCH ON THE FOLLOWING RESEARCH GRANTS:FEDERALLY SPONSORED RESEARCH - 911 GRANTSSTATE OF PENNSYLVANIA SPONSORED RESEARCH - 93 GRANTSCITY OF PHILADELPHIA CONTRACTS - 25 GRANTSPRIVATE FOUNDATION SPONSORED RESEARCH - 369 GRANTSINDUSTRY SPONSORED RESEARCH - 82 GRANTS
  Expenses $172,735,685 · grants $19,333,350 · revenue $26,168,369
• PATIENT CARE/PUBLIC SERVICEIT IS DREXEL UNIVERSITY'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. THE UNIVERSITY'S CLINICAL PRACTICES PROVIDE PATIENT-CENTERED HEALTH CARE IN A VARIETY OF SERVICES INCLUDING GENERAL INTERNAL MEDICINE, HIV/AIDS, STUDENT HEALTH, ADDICTION MEDICINE, PSYCHIATRY, EATING DISORDERS, AND OPTOMETRY, AMONG OTHERS.
  Expenses $40,812,616 · revenue $28,531,429

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

IRS record

EIN

23-1352630

Tax-exempt status

501(c)(3): Charitable, religious, educational or scientific organization

Foundation status

School

Donations deductible (Pub 78)

Public charity, 50% deduction limit

Exempt since

1927

Accounting year ends

June

Files

Form 990 or 990-EZ

Category (NTEE)

Education (B43)

Assets (IRS master file)

$2,938,982,871

Income (IRS master file)

$1,597,461,925

Filing history

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-1352630).

Questions about DREXEL UNIVERSITY

What is the EIN of DREXEL UNIVERSITY?

The employer identification number (EIN) of DREXEL UNIVERSITY is 23-1352630.

Is DREXEL UNIVERSITY tax-exempt?

Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1927.

Are donations to DREXEL UNIVERSITY tax-deductible?

Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).

Which annual return does DREXEL UNIVERSITY file?

Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.

When is the next return of DREXEL UNIVERSITY due?

The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.

When did DREXEL UNIVERSITY last file with the IRS?

The latest return in the IRS public files is the 990 for the year ended June 2025.

Who is the principal officer of DREXEL UNIVERSITY?

The 990 for the year ended June 30, 2025 names ANTONIO MERLO.

Who are the officers and directors of DREXEL UNIVERSITY?

The 990 for the year ended June 30, 2025 lists 88 people; 24 received compensation from the organization, the highest $1,829,538 (JOHN A FRY, PRESIDENT (TO 9/30/24)).

How much revenue does DREXEL UNIVERSITY have?

On its 990 for the year ended June 30, 2025 it reported revenue of $1,465,915,989, expenses of $1,473,388,878 and total assets of $2,938,982,871 at year end.

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