Shenandoah University
Shenandoah University reported $172.4 million in revenue and $149.3 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $87.95 went to program services, $10.84 to management and general costs and $1.21 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 81.6% of the total. The highest compensation it reported for one person was $436,293 (PRESIDENT AND REGISTERED AGENT). 113 people received more than $100,000 in reportable compensation. Revenue rose 34% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $149MFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $172MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 88.0% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 10.8% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.2% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.07 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 14.2% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 1.6% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 81.6% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $436,293 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.29% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 113 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 19.5 | 13.3 |
| Independent voting board members Part VI 1a–1b | 28 of 32 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseDuring the fiscal year 2024-2025, Shenandoah University saw enrollment remain steady, with 4,454 students enrolled in fall 2024. Shenandoah continued to expand its list of over 200 academic offerings at the undergraduate and graduate levels, adding master of science in applied cyber security, master of science in clinical mental health counseling, master of science in speech-language pathology, doctor of philosophy in organizational leadership and doctor of philosophy in educational leadership
Student services includes admissions, registrar, student affairs, student organizations, and athletic programs. During fiscal year 2024-2025, Shenandoah University had over 70 recognized student clubs and organizations. Shenandoah University sponsored 22 intercollegiate teams (11 for women and 11 for men) with a total student-athlete involvement of more than 500. Intercollegiate athletics are an integral aspect of student life on the Shenandoah University campus, with the majority of students involved either as participants or spectators. Several su sports teams earned national rankings and…
Auxiliary services includes the university's residence halls, bookstore, and child care facilities. During fiscal year 2024-2025, shenandoah set a new all-time high with over 1,230 students residing in its 11 residence halls
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT AND REGISTERED AGENT Officer, 40.00 hrs/week | $363,848 | $0 | $72,445 | $436,293 |
| DEAN OF PHARMACY Key employee, 40.00 hrs/week | $225,906 | $0 | $44,983 | $270,889 |
| SENIOR VP AND VP FOR ADVANCEMENT Officer, 40.00 hrs/week | $212,949 | $0 | $43,771 | $256,720 |
| VP FOR ADMIN. & GENERAL COUNSEL Officer, 40.00 hrs/week | $205,443 | $0 | $23,889 | $229,332 |
| PROFESSOR OF PHARMACOGENOMICS Highest compensated employee, 40.00 hrs/week | $185,354 | $0 | $42,065 | $227,419 |
| PROVOST Officer, 40.00 hrs/week | $199,535 | $0 | $14,061 | $213,596 |
| VP FOR FINANCE AND CFO Officer, 40.00 hrs/week | $170,587 | $0 | $42,117 | $212,704 |
| DEAN-ARTS & SCIENCE (INT. DEAN-BUS.) Key employee, 40.00 hrs/week | $162,923 | $0 | $39,702 | $202,625 |
113 people received more than $100,000 in reportable compensation from Shenandoah University (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.5M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b32 · 28 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 53,013
- Volunteers Part I, line 6300
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| SODEXO CAMPUS SERVICES Food services | $2,325,062 |
| ARAMARK SERVICES INC Food services | $2,044,601 |
| ELLUCIAN COMPANY LP Software | $641,506 |
| VARSITY TRAVEL Transportation | $445,574 |
Individuals listed as contractors are left out. 26 contractors were paid more than $100,000 in all.
Private foundation grants it received
31 private foundations reported grants to Shenandoah University totaling $1.6M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Shenandoah University's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Shenandoah University, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Shenandoah University spent in FY2025, $87.95 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- The Queens Borough Public LibraryJamaica, NY · revenue $172M · programs 87.4% · FY2025
- University of Massachusetts FoundationNewton, MA · revenue $173M · programs 61.1% · FY2025
- Maryville University - St LouisSt Louis, MO · revenue $172M · programs 82.0% · FY2025
- The Seminar NetworkArlington, VA · revenue $173M · programs 95.7% · 2024
- Wheaton CollegeNorton, MA · revenue $171M · programs 90.4% · FY2025
Questions people ask
How much of Shenandoah University's spending goes to programs?
In the fiscal year ending June 30, 2025, Shenandoah University reported that 88.0% of its $149.3 million in expenses went to program services, 10.8% to management and general and 1.2% to fundraising (Form 990, Part IX).
How much does Shenandoah University pay its top executive?
The largest total compensation Shenandoah University reported for one person in the fiscal year ending June 30, 2025 was $436,293, for the role of PRESIDENT AND REGISTERED AGENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Shenandoah University get its money?
Of $172.4 million in revenue in the fiscal year ending June 30, 2025, 14.2% came from contributions and grants (including 1.6% from government grants) and 81.6% from program service revenue (Form 990, Part VIII).
Is Shenandoah University a registered charity?
The IRS lists EIN 54-0525605 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202601349349302610 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202541349349307489 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202401369349309475 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202301359349305140 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202221369349317442 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202141329349301919 · read the filing
All filings for EIN 54-0525605: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.