Virginia · Nonprofit
SHENANDOAH UNIVERSITY
SHENANDOAH UNIVERSITY (Virginia) receives grants from 143 organizations whose IRS filings report $40,976,099 to it, the largest being Affordable Housing Corporation ($13,450,000). 78 of them have funded it in more than one year.
- Revenue FY2025
- $172M
- Funders on record
- 143
- Grants received
- $41M
- Net assets
- $243M
What Shenandoah University does
Mission
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.
As stated on its FY2025 Form 990.
Programs
During 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.
$94,202,962 spentof which $33,488,862 as grants$121,502,803 earned by the program72% of program spendingStudent 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 contended for old dominion athletic conference titles in their respective sports, and student-athletes excelled at the conference, regional and national levels.shenandoah's health professions building, located off main campus at the winchester medical center campus, serves as the home of the school of pharmacy, and su's nationally ranked physician assistant studies program as well as the occupational therapy and physical therapy programs in the school of health professions. Su's loudoun location serves students in the mba, education and leadership, nursing, occupational therapy, physical…
$16,495,660 spent$1,385,299 earned by the program13% of program spendingAuxiliary 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.
$10,244,978 spent$15,045,047 earned by the program8% of program spendingShenandoah University's other program services not detailed in part iii include the maintenance of Shenandoah University's campuses.
$10,388,554 spent$2,670,686 earned by the program8% of program spending
The 4 programs described on its FY2024 Form 990, listed largest first by expense. Program spending in total: $131,332,154.
The organization over time
Each line starts at 100 in 2017, so what you read is the shape rather than the size: 150 means half as much again as 2017, 50 means half. The number beside each label in the key is where it ended. The shaded band is where the middle 50% of its peers' revenue would sit, given their growth.
Balance sheet
Total assets and total liabilities at each year end, in dollars. The largest one-year move in total assets was 2023 to 2024, from $299M to $335M (+12%).
How it's funded, over time
Each bar is one year's revenue split into where it came from, and every bar is the same height — these are shares, not amounts, so a year that raised twice as much looks the same size. Hover a bar for the split.
Government-grant reliance: 2017 1% · 2018 1% · 2019 1% · 2020 2% · 2021 5% · 2022 6% · 2023 1% · 2024 3% · 2025 2%. Grants only. Government contracts and fees sit inside program revenue.
14% of SHENANDOAH UNIVERSITY’s revenue is contributions — more donation-reliant than the typical peer (14% for the typical peer).
Surplus & reserves
Operating surplus or deficit each year, and months of liquidity in hand. 2 of the last 9 reported years ran a deficit.
reserve
Leadership and staff
The officers, directors, trustees and key employees listed on each return. Joined and no longer listed compare each filing with the year before, matching people by surname and first initial; a year after a gap, or a roster under three people, has no comparison.
Board chair
James U Imoh
Chair
As listed on its FY2025 Form 990.
Who funds it, year by year
2017 → 2023: the base broadened from 29 funders to 50 funders, grant income rose $1.0M → $2.6M.
24 of 143 of your funders are donor-advised or pass-through sponsors (tagged DAF) — 10% of grant dollars received. That money is really individual donors directing a sponsor; the institutions to cultivate are the non-DAF funders.
From the IRS filings of SHENANDOAH UNIVERSITY’s funders (the co-funder graph). Top 30 of 143 funders by total. Association, not causation. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How concentrated its funding is
SHENANDOAH UNIVERSITY leans on a few funders — its largest provides 33% of grant income and the top three 62%; half comes from just 2 funders.
the vertical line marks half of all grant income — 2 funders to its left
74% of the income these shares are computed over arrives through pass-through sponsors or from payers whose filings do not say what kind of payment it is. Concentration is still measured over all of it, because the money is real; what it does not support is a claim about how many institutions have chosen to fund SHENANDOAH UNIVERSITY.
Largest funder’s share by year: 2017 21% · 2018 31% · 2019 18% · 2020 24% · 2021 29% · 2022 16% · 2023 38% — growing more concentrated.
“Effective funders” = inverse Herfindahl index (1 / Σ shareᵢ²) — the number of equal-sized funders that would give the same concentration. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
How long its funders stay
46% of SHENANDOAH UNIVERSITY's funders are still giving 3 years after their first grant; 55% give in more than one year at all.
Share of funders still giving k years after their first recorded grant, pooled across every acquisition cohort. A funder counts as retained in a year only if it made a grant that year. Measured to FY2023, the last fiscal year that has finished arriving — a funder cannot be counted as lapsed in a year most filers have not reached.
Where its funders are
86% of SHENANDOAH UNIVERSITY's grant income comes from Virginia funders.
In-state vs out-of-state, by year
Funder states come from each funder’s own filing. $4.0M arriving through sponsors registered in 13 states is excluded from the map and the split above: a sponsor holds money on a donor’s behalf, so its registered address would place those dollars somewhere no donor need ever have been. Trends are read to FY2023, the last fiscal year that has finished arriving. FY2024–FY2026 are still being filed and are shown unshaded; they do not move any figure on this page.
Against its field
SHENANDOAH UNIVERSITY runs a healthier operating margin than half of the 684 education nonprofits its size.
this organization peer median middle 50% of peers· 684 education nonprofits over $100M, FY2025
Government funding SHENANDOAH UNIVERSITY receives
Grants and contracts to this organization from federal (USASpending) and state checkbooks, reconciled to its EIN. $14.2M on record — $14.2M federal, $4k state.
- Department of Education$11.5M
- Department of Health and Human Services$2.4M
- Department of State$150k
- Department of Defense$96k
- DE$4k
- NJ$60
Federal grants vs contracts are distinguished; state line items keep their reported category. Matched by name + geography (the BMF), so coverage is partial and precision-first.
Organizations like SHENANDOAH UNIVERSITY
Organizations whose mission and program text most resemble this one, by semantic similarity over every organization in the US filings — the closest peers, and often the clearest route to shared or prospective funders.
In Virginia
Nationally
Read directly from this organization’s own Form 990, as neutral context.
Where the money goes
88% of spending goes to programs.
Governance
Public support
49%
Share of support from the public (Schedule A) — the basis for its public-charity status.
Screen this organization
A dated, signed PDF of the compliance screen for SHENANDOAH UNIVERSITY: IRS status (Business Master File, Publication 78, auto-revocation), the OFAC sanctions lists, the Internal Revenue Bulletin, and California registration, with the Rev. Proc. 2018-32 §8.01 reliance elements stated element by element. Generated from the current files at the moment you download it.
Screens are triage, not determinations; a source that cannot be read reports not screened, never clear. Screen this nonprofit · How the screen works · on the API as GET /api/screening/{ein}?format=pdf
Questions and answers
- Who funds SHENANDOAH UNIVERSITY?
- SHENANDOAH UNIVERSITY (Virginia) receives grants from 143 organizations whose IRS filings report $40,976,099 to it, the largest being Affordable Housing Corporation ($13,450,000). 78 of them have funded it in more than one year.
- How many funders does SHENANDOAH UNIVERSITY have?
- IRS filings report 143 organizations giving $40,976,099 in grants to SHENANDOAH UNIVERSITY, 78 of which have funded it in more than one year.
- Who is the largest funder of SHENANDOAH UNIVERSITY?
- Affordable Housing Corporation is the largest funder on record, with $13,450,000 in grants. The full list of funders is on this page.
- How can an organization like SHENANDOAH UNIVERSITY find more funders?
- Start with the funders already giving here, then look at the foundations that back similar organizations in Virginia. The funding by cause and by state pages list the largest funders for a given area and how to approach them.
Play a game about who funds Shenandoah University →
These figures are read directly from IRS Form 990 / 990-PF e-file XML: this organization’s own return for FY2025 (financials across 2017–2025), and the filings of 143 funders that report grants to it. “On record” means captured in the filings we have parsed — a funder that does not e-file, or whose grant detail is not itemized, will not appear. Filings run roughly 12–24 months behind. Trends on this page end at FY2023, the last fiscal year that has finished arriving; later years are shown and marked, and move no figure. Data on this page was exported October 22, 2026. What this page cannot tell you · view filing