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Furman University

Greenville, SC · EIN 57-0314395 · 501(c)(3) · School
Latest filing: Form 990 for the fiscal year ending June 30, 2025 (tax year 2024) · View the filing · Correct or respond

Furman University reported $296.9 million in revenue and $280.1 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $89.35 went to program services, $8.78 to management and general costs and $1.87 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 65.4% of the total. The highest compensation it reported for one person was $827,680 (MEN'S HEAD BASKETBALL COACH). 146 people received more than $100,000 in reportable compensation. Revenue rose 43% 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 $280M

Program services$89.35 $250M
Management & general$8.78 $25M
Fundraising$1.87 $5.2M

For 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 $297M

Contributions & grants (non-government)$11.44 $34M
Government grants$1.40 $4.1M
Program service revenue$65.35 $194M
Investment income$21.70 $64M
Other revenue$0.11 $330K

The 990 scorecard · same measures for every charity, no grades

FY2025 filing. Median across 5,499 covered charities in this category, from their latest filings.
Measure	FY2025	Median
Program services Part IX 25(B) ÷ 25(A)	89.4%	84.4%
Management & general Part IX 25(C) ÷ 25(A)	8.8%	13.4%
Fundraising Part IX 25(D) ÷ 25(A)	1.9%	0.8%
Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h	$0.14	$0.04
Contributions & grants share of revenue Part VIII 1h ÷ 12	12.8%	19.1%
Government grants share of revenue Part VIII 1e ÷ 12	1.4%	1.1%
Program service revenue share Part VIII 2g ÷ 12	65.4%	69.9%
Highest reported compensation Part VII-A, columns D–F	$827,680	$331,578
Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A)	0.30%	1.28%
People paid over $100,000 Part VII, line 2	146	8
Net assets, in months of expenses Part X 33(B) ÷ monthly expenses	50.6	13.3
Independent voting board members Part VI 1a–1b	31 of 31	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 expense

$182M expenses · 72.6% of program spending · grants $93M · revenue $148M

Instruction of students in both undergraduate and graduate programs. A personalized four-year pathway for students instituted by the furman advantage includes high impact, engaged learning through research, internships, and study abroad programs. Scholarships are awarded to eligible students based on financial need and academic merit

$39M expenses · 15.8% of program spending · revenue $4.3M

Student services includes intercollegiate athletics, intramural and club sports, enrollment management, student government and a large variety of student organizations, services and activities

$29M expenses · 11.6% of program spending · revenue $42M

The university conducted auxiliary enterprises for the convenience of students, faculty, staff and the at-large community. These auxiliary enterprises include student housing, dining services, golf course, sports arena and conference center

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
MEN'S HEAD BASKETBALL COACH Highest compensated employee, 40.00 hrs/week	$760,270	$0	$67,410	$827,680
PRESIDENT Officer, 40.00 hrs/week	$633,775	$0	$69,198	$702,973
VP FOR FIN & ADMIN Officer, 40.00 hrs/week	$415,651	$0	$47,764	$463,415
HEAD FOOTBALL COACH Highest compensated employee, 40.00 hrs/week	$387,885	$0	$68,683	$456,568
CHIEF INVESTMENT OFFICER Key employee, 40.00 hrs/week	$317,843	$0	$68,501	$386,344
VP FOR INTERCOLLEGIATE ATHLETICS Officer, 40.00 hrs/week	$315,039	$0	$69,193	$384,232
VP FOR ACAD AFFAIRS & PROVOST Officer, 40.00 hrs/week	$303,493	$0	$60,212	$363,705
VP FOR UNI COMM (THRU 3/25) Officer, 40.00 hrs/week	$303,631	$0	$54,757	$358,388

146 people received more than $100,000 in reportable compensation from Furman University (Part VII, line 2). Compensation of current officers, directors and key employees totaled $3.8M (Part IX, line 5).

6 years of filings

Form 990, Parts I, VII, IX and X · each row is that year's own filing, linked

RevenueExpenses

Filing	Revenue	Expenses	Programs	Net assets	Top pay
FY2025 ⓘ	$297M	$280M	89.4%	$1.18B	$827,680
FY2024 ⓘ	$289M	$270M	89.1%	$1.13B	$706,578
FY2023 ⓘ	$223M	$256M	88.3%	$1.09B	$896,095
FY2022 ⓘ	$253M	$240M	87.7%	$1.14B	$532,735
FY2021 ⓘ	$304M	$214M	87.1%	$1.17B	$540,980
FY2020 ⓘ	$208M	$233M	86.8%	$931M	$604,545

Governance 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–1b31 · 31 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 11aNo
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 4No
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 52,357
Volunteers Part I, line 631

Largest outside contractors

FY2025 · Form 990, Part VII, Section B · businesses only

THE HARPER CORPORATION Construction	$47,351,252
TRIANGLE CONSTRUCTION CO Construction	$17,628,571
COMPASS GROUP USA INC Dining services	$11,539,737
BAIN & COMPANY INC Professional consultancy	$3,000,000
ESSENTIAL LIGHTING SOLUTIONS INC Lighting system/maintenance	$2,329,838

Individuals listed as contractors are left out. 60 contractors were paid more than $100,000 in all.

Private foundation grants it received

68 private foundations reported grants to Furman University totaling $23M 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 Furman 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 Furman University, you can publish a response that is linked from this page.

Report a correction Respond as Furman University How this works

Similar-sized charities in this cause

Davidson College
Davidson, NC · revenue $296M · programs 85.2% · FY2025
New York University in Abu Dhabi Corp
New York, NY · revenue $297M · programs 87.3% · FY2025
Widener University
Chester, PA · revenue $295M · programs 89.6% · FY2025
Denison University
Granville, OH · revenue $299M · programs 87.4% · FY2025
University of Scranton
Scranton, PA · revenue $294M · programs 87.7% · FY2025

All education charities · Largest charities in South Carolina

Questions people ask

How much of Furman University's spending goes to programs?

In the fiscal year ending June 30, 2025, Furman University reported that 89.4% of its $280.1 million in expenses went to program services, 8.8% to management and general and 1.9% to fundraising (Form 990, Part IX).

How much does Furman University pay its top executive?

The largest total compensation Furman University reported for one person in the fiscal year ending June 30, 2025 was $827,680, for the role of MEN'S HEAD BASKETBALL COACH (Form 990, Part VII, including compensation from related organizations and other compensation).

Where does Furman University get its money?

Of $296.9 million in revenue in the fiscal year ending June 30, 2025, 12.8% came from contributions and grants (including 1.4% from government grants) and 65.4% from program service revenue (Form 990, Part VIII).

Is Furman University a registered charity?

The IRS lists EIN 57-0314395 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 202641349349303494 · read the filing
FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202521339349310007 · read the filing
FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202421369349305782 · read the filing
FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202311359349303801 · read the filing
FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202211369349312211 · read the filing
FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202111379349310101 · read the filing

All filings for EIN 57-0314395: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.