Nonprofit · EIN 61-0444825
TRANSYLVANIA UNIVERSITY
Tax-exempt · LEXINGTON, KY 40508
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $86,108,052 | $71,123,064 | $14,984,988 | $274,609,264 | $57,821,828 | $216,787,436 |
| June 30, 2024 | 990 | $71,833,655 | $69,813,197 | $2,020,458 | $264,515,550 | $61,261,658 | $203,253,892 |
| June 30, 2023 | 990 | $66,491,830 | $68,860,956 | -$2,369,126 | $252,651,160 | $63,874,687 | $188,776,473 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $5,716,063
- Program service revenue
- $53,447,512
- Investment income
- $25,504,662
- Net gain from sales of assets
- $22,978,168
- Other revenue
- $1,439,815
Expenses
- Grants and similar amounts paid
- $28,039,959
- Compensation of officers, directors and key employees
- $1,897,966
- Other salaries and wages
- $16,189,707
- Salaries, compensation and benefits (total)
- $23,838,935
- Professional fundraising fees
- $0
- Legal fees
- $38,234
- Accounting fees
- $55,715
- Occupancy
- $2,438,727
- Travel
- $1,466,253
- Depreciation
- $4,664,265
- Program services (functional)
- $62,976,331
- Management and general (functional)
- $6,625,614
- Fundraising (functional)
- $1,521,119
Balance sheet and other
- Total assets, start of year
- $264,515,550
- Total assets, end of year
- $274,609,264
- Total liabilities, end of year
- $57,821,828
- Net assets, end of year
- $216,787,436
- Land, buildings and equipment
- $102,812,266
- Publicly traded securities
- $73,115,206
- Net assets without donor restrictions
- $40,290,605
- Net assets with donor restrictions
- $176,496,831
- Gross receipts
- $109,387,882
- Employees
- 844
- Volunteers
- 100
- Year formed
- 1780
- State of legal domicile
- KY
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.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| WILLIAM BRIEN LEWIS | PRESIDENT Officer | 40 | $400,609 | $58,251 |
| LISA CUSTARDO | EVP FOR BUSINESS AFFAIRS, CFO Key employee | 40 | $215,637 | $36,415 |
| S REBECCA THOMAS | VICE PRESIDENT FOR ACADEMIC AFFAIRS AND DEAN OF TH Key employee | 40 | $200,219 | $35,402 |
| KARA COVERT | VICE PRESIDENT FOR ADVANCEMENT Key employee | 40 | $152,810 | $26,835 |
| MICHAEL COVERT | VICE PRESIDENT FOR STUDENT LIFE AND DEAN OF STUDEN Highest-paid employee | 40 | $141,912 | $33,753 |
| RHYAN CONYERS | VICE PRESIDENT FOR INSTITUTIONAL EFFECTIVENESS Highest-paid employee | 40 | $132,858 | $36,482 |
| G ROD ERFANI | PROFESSOR Highest-paid employee | 40 | $132,169 | $32,901 |
| MICHAEL CAIRO | PROFESSOR Highest-paid employee | 40 | $124,643 | $39,448 |
| MANNING MAURICE | PROFESSOR Highest-paid employee | 40 | $128,165 | $35,546 |
| CHRISTOPHER H YOUNG | BOARD CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| RAYMOND K COOPER II | BOARD VICE-CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| BETSY BROOKS BULLEIT | BOARD SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| LUTHER DEATON JR | BOARD TREASURER Trustee or director, Officer | 1 | $0 | $0 |
| FALGUNI AMIN-ZIMMERMAN | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
| GLEN S BAGBY | BOARD MEMBER Trustee or director | 1 | $0 | $0 |
25 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MINDY G BARFIELD | BOARD MEMBER Trustee or director | 1 | $0 |
| KAREN K CALDWELL | BOARD MEMBER Trustee or director | 1 | $0 |
| ARISTIDES S CANDRIS | BOARD MEMBER Trustee or director | 1 | $0 |
| TODD CLARK | BOARD MEMBER Trustee or director | 1 | $0 |
| SHAWNA A CORMAN | BOARD MEMBER Trustee or director | 1 | $0 |
| NORWOOD COWGILL JR | BOARD MEMBER Trustee or director | 1 | $0 |
| ROSE MARY STAMLER DOW | BOARD MEMBER Trustee or director | 1 | $0 |
| MICHAEL C FINLEY | BOARD MEMBER Trustee or director | 1 | $0 |
| CHARISSE GILLET | BOARD MEMBER Trustee or director | 1 | $0 |
| HANNAH GOODLETT | BOARD MEMBER Trustee or director | 1 | $0 |
| LAURA R HARPER | BOARD MEMBER Trustee or director | 1 | $0 |
| SHERRY D HOLLEY | BOARD MEMBER Trustee or director | 1 | $0 |
| DAVID C JOHNSON | BOARD MEMBER Trustee or director | 1 | $0 |
| JOHN KNAPP | BOARD MEMBER Trustee or director | 1 | $0 |
| PRAKASH T MAGGAN | BOARD MEMBER Trustee or director | 1 | $0 |
| JANET MCGREGOR | BOARD MEMBER Trustee or director | 1 | $0 |
| JENNIFER MOORE | BOARD MEMBER Trustee or director | 1 | $0 |
| BILLIE JO SETZER | BOARD MEMBER Trustee or director | 1 | $0 |
| JOE M THOMPSON | BOARD MEMBER Trustee or director | 1 | $0 |
| JEFFRY TRUITT | BOARD MEMBER Trustee or director | 1 | $0 |
| PALMER G VANCE II | BOARD MEMBER Trustee or director | 1 | $0 |
| GEORGE M VANMETER JR | BOARD MEMBER Trustee or director | 1 | $0 |
| JOHN N WILLIAMS JR | BOARD MEMBER Trustee or director | 1 | $0 |
| ANN ORME WINDLEY | BOARD MEMBER Trustee or director | 1 | $0 |
| BRIAN C WOOD | BOARD MEMBER Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 49 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| William Brien Lewis | President Key employee | 40 | $437,461 | $47,389 |
| S Rebecca Thomas | Vice President for Academic Affairs and Dean of the University Key employee | 40 | $196,514 | $27,820 |
| Shawn Lyons | Vice President for Advancement Key employee | 40 | $184,585 | $24,314 |
| Sarah Coen | Vice President for Strategic Initiatives and Enrollment Management Key employee | 40 | $144,835 | $22,360 |
| Michael Covert | Vice President for Student Life and Dean of Students Key employee | 40 | $138,316 | $27,205 |
| G Rod Erfani | Professor Highest-paid employee | 40 | $129,885 | $31,392 |
| Michael Cairo | Professor Highest-paid employee | 40 | $122,988 | $37,403 |
| Gregory Partain | Professor Highest-paid employee | 40 | $117,894 | $37,274 |
| Sarah Bray | Professor Highest-paid employee | 40 | $124,799 | $29,629 |
| Lisa Custardo | EVP for Business Affairs, CFO Key employee | 40 | $132,859 | $21,222 |
| Holly Sheilley | Vice President for Athletics Key employee | 40 | $132,480 | $20,286 |
| Don Dugi | Professor Highest-paid employee | 40 | $129,155 | $21,523 |
| Megan Moloney | Vice President for Marketing and Communication Key employee | 40 | $129,524 | $20,019 |
| Rhyan Conyers | Vice President for Institutional Effectiveness Key employee | 40 | $118,645 | $25,357 |
| Deepa Dubal | Vice President for Information Technology Key employee | 40 | $120,679 | $18,719 |
| Kara Covert | Vice President for Advancement Key employee | 40 | $119,816 | $18,810 |
| Deidra Dennie | Vice President for Diversity and Inclusion Key employee | 40 | $109,160 | $14,924 |
| Falguni Amin-Zimmerman | Board Member Trustee or director | 1 | $0 | $0 |
| Glen S Bagby | Board Member Trustee or director | 1 | $0 | $0 |
| Mindy G Barfield | Board Member Trustee or director | 1 | $0 | $0 |
| George Branch | Board Member Trustee or director | 1 | $0 | $0 |
| Betsy Brooks Bulleit | Board Member Trustee or director | 1 | $0 | $0 |
| Karen K Caldwell | Board Member Trustee or director | 1 | $0 | $0 |
| Aristides S Candris | Vice-Chair of the Board and Board Member Trustee or director, Officer | 1 | $0 | $0 |
| Todd Clark | Board Member Trustee or director | 1 | $0 | $0 |
| Raymond K Cooper II | Board Member Trustee or director | 1 | $0 | $0 |
| Shawna A Corman | Board Member Trustee or director | 1 | $0 | $0 |
| Norwood Cowgill Jr | Chairman of the Board and Board Member Trustee or director | 1 | $0 | $0 |
| Luther Deaton Jr | Treasurer of the Board and Board Member Trustee or director, Officer | 1 | $0 | $0 |
| Rose Mary Stamler Dow | Secretary of the Board and Board Member Trustee or director, Officer | 1 | $0 | $0 |
| Michael C Finley | Board Member Trustee or director | 1 | $0 | $0 |
| Charisse Gillett | Board Member Trustee or director | 1 | $0 | $0 |
| Hannah Goodlett | Board Member Trustee or director | 1 | $0 | $0 |
| Laura R Harper | Board Member Trustee or director | 1 | $0 | $0 |
| Sherry D Holley | Board Member Trustee or director | 1 | $0 | $0 |
| David C Johnson | Board Member Trustee or director | 1 | $0 | $0 |
| John Knapp | Board Member Trustee or director | 1 | $0 | $0 |
| Prakash T Maggan | Board Member Trustee or director | 1 | $0 | $0 |
| Samuel Mitchell Jr | Board Member Trustee or director | 1 | $0 | $0 |
| Billie Jo Setzer | Board Member Trustee or director | 1 | $0 | $0 |
| Joe M Thomson | Board Member Trustee or director | 1 | $0 | $0 |
| Jeffrey Truitt | Board Member Trustee or director | 1 | $0 | $0 |
| Palmer G Vance II | Board Member Trustee or director | 1 | $0 | $0 |
| George M VanMeter Jr | Board Member Trustee or director | 1 | $0 | $0 |
| John N Williams Jr | Board Member Trustee or director | 1 | $0 | $0 |
| Ann Orme Windley | Board Member Trustee or director | 1 | $0 | $0 |
| Brian C Wood | Board Member Trustee or director | 1 | $0 | $0 |
| Christopher H Young | Board Member Trustee or director | 1 | $0 | $0 |
| William T Young Jr | Board Member Trustee or director | 1 | $0 | $0 |
990 for the year ended June 30, 2023: 49 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| William Brien Lewis | President Key employee | 40 | $417,361 | $41,682 |
| Sarah Coen | Vice President for Strategic Initiatives and Enrollment Management Key employee | 40 | $187,280 | $30,681 |
| S Rebecca Thomas | Vice President for Academic Affairs and Dean of the University Key employee | 40 | $181,416 | $29,300 |
| Shawn Lyons | Vice President for Advancement Key employee | 40 | $184,409 | $23,874 |
| Nelson Murphy | Vice President for Finance and Business Key employee | 40 | $164,193 | $24,791 |
| Johnnie Johnson | Vice President for Admissions Key employee | 40 | $147,414 | $18,300 |
| Michael Covert | Vice President for Student Life and Dean of Students Key employee | 40 | $128,117 | $24,503 |
| G Rod Erfani | Professor Highest-paid employee | 40 | $123,416 | $27,116 |
| Charles Jack Girard | Professor Highest-paid employee | 40 | $115,423 | $33,674 |
| Michael Cairo | Professor Highest-paid employee | 40 | $112,090 | $33,374 |
| Megan Moloney | Vice President for Marketing and Communication Key employee | 40 | $124,584 | $18,489 |
| Holly Sheilley | Vice President for Athletics Key employee | 40 | $123,567 | $18,398 |
| Don Dugi | Professor Highest-paid employee | 40 | $122,239 | $18,278 |
| Veronica Dean-Thacker | Professor of Foreign Languages Highest-paid employee | 40 | $116,259 | $17,740 |
| Rhyan Conyers | Vice President for Institutional Effectiveness Key employee | 40 | $110,520 | $22,920 |
| Deepa Dubal | Vice President for Information Technology Key employee | 40 | $113,788 | $17,069 |
| Deidra Dennie | Vice President for Diversity and Inclusion Key employee | 40 | $114,391 | $10,775 |
| Falguni Amin-Zimmerman | Board Member Trustee or director | 1 | $0 | $0 |
| Glen S Bagby | Board Member Trustee or director | 1 | $0 | $0 |
| Mindy G Barfield | Board Member Trustee or director | 1 | $0 | $0 |
| George Branch | Board Member Trustee or director | 1 | $0 | $0 |
| Betsy Brooks Bulleit | Board Member Trustee or director | 1 | $0 | $0 |
| Karen K Caldwell | Board Member Trustee or director | 1 | $0 | $0 |
| Aristides S Candris | Vice-Chair of the Board and Board Member Trustee or director, Officer | 1 | $0 | $0 |
| Todd Clark | Board Member Trustee or director | 1 | $0 | $0 |
| Raymond K Cooper II | Board Member Trustee or director | 1 | $0 | $0 |
| Shawna A Corman | Board Member Trustee or director | 1 | $0 | $0 |
| Norwood Cowgill Jr | Chairman of the Board and Board Member Trustee or director, Officer | 1 | $0 | $0 |
| Luther Deaton Jr | Treasurer of the Board and Board Member Trustee or director, Officer | 1 | $0 | $0 |
| Rose Mary Stamler Dow | Secretary of the Board and Board Member Trustee or director, Officer | 1 | $0 | $0 |
| Michael C Finley | Board Member Trustee or director | 1 | $0 | $0 |
| Charisse Gillett | Board Member Trustee or director | 1 | $0 | $0 |
| Laura R Harper | Board Member Trustee or director | 1 | $0 | $0 |
| Sherry D Holley | Board Member Trustee or director | 1 | $0 | $0 |
| David C Johnson | Board Member Trustee or director | 1 | $0 | $0 |
| John Knapp | Board Member Trustee or director | 1 | $0 | $0 |
| Prakash T Maggan | Board Member Trustee or director | 1 | $0 | $0 |
| Samuel J Mitchell Jr | Board Member Trustee or director | 1 | $0 | $0 |
| William C Oehmig | Board Member Trustee or director | 1 | $0 | $0 |
| Billie Jo Setzer | Board Member Trustee or director | 1 | $0 | $0 |
| Joe M Thomson | Board Member Trustee or director | 1 | $0 | $0 |
| Palmer G Vance II | Board Member Trustee or director | 1 | $0 | $0 |
| George M VanMeter Jr | Board Member Trustee or director | 1 | $0 | $0 |
| John N Williams Jr | Board Member Trustee or director | 1 | $0 | $0 |
| Ann Orme Windley | Board Member Trustee or director | 1 | $0 | $0 |
| Brian C Wood | Board Member Trustee or director | 1 | $0 | $0 |
| Byron Young | Board Member Trustee or director | 1 | $0 | $0 |
| Christopher H Young | Board Member Trustee or director | 1 | $0 | $0 |
| William T Young Jr | Board Member Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 300 N BROADWAY, LEXINGTON, KY 40508-1797
- Principal officer (990 for 2024)
- LISA CUSTARDO, 300 NORTH BROADWAY, LEXINGTON, KY 40508
- Signed the 990
- LISA CUSTARDO, CHIEF FINANCIAL OFFICER
- Phone
- (859) 233-8100
- Website
- TRANSY.EDU
- Return prepared by
- BLUE & CO LLC
Mission
THROUGH AN ENGAGEMENT WITH THE LIBERAL ARTS, TRANSYLVANIA UNIVERSITY PREPARES ITS STUDENTS FOR A HUMANE AND FULFILLING PERSONAL AND PUBLIC LIFE BY CULTIVATING INDEPENDENT THINKING, OPEN-MINDEDNESS, CREATIVE EXPRESSION AND COMMITMENT TO LIFELONG LEARNING AND SOCIAL RESPONSIBILITY IN A DIVERSE WORLD.
Program accomplishments
- TRANSYLVANIA UNIVERSITY, LOCATED IN THE HEART OF DOWNTOWN LEXINGTON, KENTUCKY, IS A TOPRANKED PRIVATE LIBERAL ARTS COLLEGE FEATURING A COMMUNITY-DRIVEN, PERSONALIZED APPROACH TO A LIBERAL ARTS EDUCATION. FOUNDED IN 1780, IT IS THE 16TH OLDEST INSTITUTION OF HIGHER LEARNING IN THE COUNTRY, WITH APPROXIMATELY 1,000 STUDENTS.Expenses $62,976,331 · grants $28,039,959 · revenue $54,887,327
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.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 61-0444825
- 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
- 1943
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B420)
- Assets (IRS master file)
- $274,609,264
- Income (IRS master file)
- $109,387,882
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $86,108,052 | $71,123,064 | $274,609,264 | IRS |
| 990-T | June 2025 | – | – | – | IRS |
| 990 | June 2024 | $71,833,655 | $69,813,197 | $264,515,550 | IRS |
| 990-T | June 2024 | – | – | – | IRS |
| 990 | June 2023 | $66,491,830 | $68,860,956 | $252,651,160 | XML |
| 990-T | June 2023 | – | – | – | IRS |
| 990 | June 2022 | $57,979,581 | $64,217,503 | $249,634,669 | IRS |
| 990-T | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-T | June 2021 | – | – | – | IRS |
| 990 | June 2020 | – | – | – | IRS |
| 990 | June 2019 | – | – | – | IRS |
| 990 | June 2018 | – | – | – | IRS |
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 61-0444825).
Questions about TRANSYLVANIA UNIVERSITY
- What is the EIN of TRANSYLVANIA UNIVERSITY?
- The employer identification number (EIN) of TRANSYLVANIA UNIVERSITY is 61-0444825.
- Is TRANSYLVANIA UNIVERSITY tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1943.
- Are donations to TRANSYLVANIA UNIVERSITY tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does TRANSYLVANIA 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 TRANSYLVANIA 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 TRANSYLVANIA 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 TRANSYLVANIA UNIVERSITY?
- The 990 for the year ended June 30, 2025 names LISA CUSTARDO.
- Who are the officers and directors of TRANSYLVANIA UNIVERSITY?
- The 990 for the year ended June 30, 2025 lists 40 people; 9 received compensation from the organization, the highest $400,609 (WILLIAM BRIEN LEWIS, PRESIDENT).
- How much revenue does TRANSYLVANIA UNIVERSITY have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $86,108,052, expenses of $71,123,064 and total assets of $274,609,264 at year end.
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