Shenandoah University
1460 University Dr, Winchester, VA · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $172,357,275 | $149,319,133 | $242,546,373 |
| FY2024 | $170,968,040 | $148,108,781 | $220,542,903 |
| FY2023 | $149,163,647 | $144,223,335 | $189,639,236 |
| FY2022 | $144,576,424 | $137,500,548 | $177,208,709 |
| FY2021 | $145,533,392 | $129,821,525 | $174,694,197 |
| FY2020 | $128,402,437 | $130,031,075 | $146,571,876 |
| FY2019 | $126,554,454 | $128,638,642 | $155,359,604 |
| FY2018 | $126,866,643 | $125,796,772 | $160,526,478 |
| FY2017 | $123,893,221 | $120,972,470 | $156,419,632 |
| FY2016 | $129,317,560 | $115,173,575 | $147,425,395 |
| FY2015 | $116,724,989 | $109,432,273 | $142,575,916 |
| FY2014 | $112,221,033 | $102,811,885 | $139,365,662 |
| FY2013 | $110,565,557 | $98,211,366 | $124,379,690 |
| FY2012 | $96,912,350 | $95,262,314 | $109,629,488 |
Form 990 filings
The returns filed by Shenandoah University (EIN 54-0525605), including Form 990 PDFs and e-file data by year, are available in ProPublica's Nonprofit Explorer. The figures on this page come from IRS data files built from those returns.
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $24,539,795 | 14% |
| Program service revenue | $140,669,309 | 82% |
| Other revenue | $7,148,171 | 4% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $131,332,154 | 88% |
| Management & general | $16,178,030 | 11% |
| Fundraising | $1,808,949 | 1% |
What the numbers show
- Program service revenue made up 82% of total revenue in FY2025.
- Program services accounted for 88% of functional expenses, management & general 11%, and fundraising 1%.
- 88% of functional expenses went to program services in FY2025. That is higher than 65.4% of 136 Education organizations in VA.
- Net assets covered about 19.5 months of expenses at the end of the reporting year. That puts it in the 55th percentile among 1604 Education organizations in VA.
- Total revenue was higher than 99.5% of 1641 Education organizations in VA.
- Total revenue rose from $96,912,350 in FY2012 to $172,357,275 in FY2025. Revenue increased in 10 and decreased in 3 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 2 of 14 reported years (FY2019, FY2020).
- Net assets grew from $109,629,488 to $242,546,373 between FY2012 and FY2025.
- Contributions and grants made up 5% of revenue in FY2012 and 14% in FY2025.
- Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
SHENANDOAH UNIVERSITY EDUCATES AND INSPIRES INDIVIDUALS TO BE CRITICAL, REFLECTIVE THINKERS; LIFELONG LEARNERS, AND ETHICAL, COMPASSIONATE CITIZENS WHO ARE COMMITTED TO MAKING RESPONSIBLE CONTRIBUTIONS WITHIN A COMMUNITY, A NATION AND THE WORLD.
IRS status
| Ruling year | 1939 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B430 — Education (in VA) |
| Donations | Listed in the IRS Publication 78 data as eligible to receive tax-deductible contributions (public charity). |
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Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded November 4, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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