Executive Compensation at Texas Christian University (2022)

Texas Christian University (TCU) is a private, tax-exempt non-profit research university in Fort Worth, Texas that is affiliated with the Christian Church (Disciples of Christ).  Approximately 11,000 undergraduate and 2,000 graduate students are pursuing 114 undergraduate areas of study and 98 graduate degrees on the 300 acre campus a few miles from downtown Fort Worth.

Tuition, room and board are approximately $80,000 annually for an undergraduate student (with about 80% receiving financial aid). With an acceptance rate of 40% (20,000 applications in 2022 of which 8,000 were accepted, and about 3,000 chose to attend), TCU counts about 55% of its students coming from out of state.

TCU has 46 voting members (trustees) of its governing body, although 47 are listed on the Form 990 which appears to be due to timing differences.  44 of the trustees are independent. 34 of the 47 (72%)are male while 13 of the 47 (28%) are female (note:  the Form 990 does not report gender; determinations were made based on name and google searches).

Key financial information in 2022 reported by TCU includes:

• Total revenue was $1.2 billion (compared to $956 million in 2021, $895 million in 2020, and $904 million in 2019) with most revenue from tuition and fees ($588 million), gains on the sale of assets  and investment income ($273 million), contributions, gifts, and grants ($140 million), athletics, dining, residential, and bookstore ($146 million), and royalties and other sources ($21 million).
• Expenses totaled $918 million (including $75 million in depreciation) with the largest expenses reported to be compensation ($335 million), grants and other assistance ($263 million), fees for services – primarily investment management ($91 million), office-related expenses ($63 million), travel and conferences ($23 million), and food services ($18 million).
• The largest recipient of grants were undergraduate and graduate students. 6,927 undergraduates received $223 million in cash grants, or an average of $32,000.  1,491 graduate students received $27 million, or an average of $18,000.  1,223 students received $13 million (an average of $11,000 each) in grants in aid and stipends.
• Net assets were $3.1 billion at year-end:  a $700 million increase since 2020.

In short, TCU spent $250 million less than they received in 2022. What is particularly interesting is they took in $588 million in tuition and fees and gave out $263 million in cash grants to students, covered all expenses and made $250 million.  In essence, the full pay students paid for the grants to other students, allowing TCU to add $250 million to savings.

With regards to compensation, TCU’s largest expense, 6,093 employees received $335 million in compensation, an average of $55,000.  670 employees received more than $100,000 in compensation with the  21 most highly compensated reported to be:

• $17,204,401:  Gary A Patterson, Head Football Coach
• $ 3,808,347:  James P Dixon, Mens Basketball Coach
• $ 2,323,475:  Victor J Boschini Jr, Chancellor
• $ 1,050,089:  James R Hille, Chief Investment Officer
• $ 1,069,704:  Jeremiah Donati, Athletic Director
• $   950,514:  Stuart D Flynn, Dean of Medical School
• $   885,784:  Kirk C Saarloos, Head Baseball Coach
• $   865,870:  Jennifer Pebley, Head Womens Basketball Coach
• $   814,207:  Brian G Gutierrez, VC, Finance and Administration
• $   716,838:  Donald J Whelan, VC, University Advancement
• $   709,180:  Teresa Abi-Nader Dahlberg, Provost VC, Academic Affairs
• $   616,586:  Jason Safran, Chief Investment Officer
• $   444,912:  Bryan C Lucas, Chief Technology Officer
• $   432,492:  Kathryn M Cavins Tull, VC, Student Affairs
• $   424,761;  Tracy D Syler-Jones, VC, Marketing and Communication
• $   368,030:  Yohna J Chambers, VC, Human Resources
• $   332,846:  Kimberly K Adams, Interim Associate VC and Controller
• $   315,425:  Raymond Nowell Donovan, Former Provost Emeritus, Professor
• $   294,007:  Cheryl Kennon, Associate VC and Controller
• $   267,834:  Todd S Waldvogel, Associate VC, Facilities and Campus Planning
• $   239,057:  Jean M Pickett, Board Secretary

As illustrated above, the 21 most highly compensated employees received $34 million in compensation in 2022.

13 of the 21 (62%) most highly compensated employees are male while 8 of the 21 (38%) are female. 9 of the 10 most highly compensated employees are male.

The 10 most highly compensated employees in 2022 received $114 million in compensation from 2017-2022 (note:  highly compensated employees from 2016-2021 but not in 2022 are not included in the list below):

Gary Patterson:  Total Compensation 2017-2022:  $45 million

• 2022:  $17,204,401
• 2021:  $ 5,664,247
• 2020:  $ 6,103,543
• 2019:  $ 6,130,197
• 2018:  $ 4,900,776
• 2017:  $ 4,840,717

James Dixon:  Total Compensation 2017-2022:  $23 million

• 2022:  $3,808,347
• 2021:  $3,512,107
• 2020:  $4,347,975
• 2019:  $3,617,018
• 2018:  $3,423,401
• 2017:  $4,144,586

Victor Boschini:  Total Compensation 2017-2022:  $17 million

• 2022:  $2,323,475
• 2021:  $2,491,580
• 2020:  $2,574,219
• 2019:  $3,042,191
• 2018:  $3,113,259
• 2017:  $3,345,278

James Hille:  Total Compensation 2017-2022:  $8 million

• 2022:  $1,050,089
• 2021:  $1,079,566
• 2020:  $1,447,280
• 2019:  $1,447,917
• 2018:  $1,503,535
• 2017:  $1,323,289

Kirk Saaloos:  Total Compensation 2022:  $0.9 million

• 2022:  $885,784

Jeremiah Donati:  Total Compensation 2018-2022:  $4 million

• 2022:  $1,069,704
• 2021:  $  860,158
• 2020:  $1,148,525
• 2019:  $  938,473
• 2018:  $  231,369

Brian G Gutierrez:  Total Compensation 2017-2022:  $6 million

• 2022:  $  814,207
• 2021:  $1,143,922
• 2020:  $1,097,916
• 2019:  $  853,027
• 2018:  $  784,564
• 2017:  $1,073,860

Jennifer Pebley:  Total Compensation 2022:  $0.9 million

• 2022:  $865,870

Stuart Flynn:  Total Compensation 2018-2022:  $5 million

• 2022:  $950,514
• 2021:  $860,474
• 2020:  $913,755
• 2019:  $1,045,075
• 2018:  $850,750

Donald Whelan:  Total Compensation 2017-2022:  $4 million

• 2022:  $716,838
• 2021:  $643,188
• 2020:  $833,061
• 2019:  $640,807
• 2018:  $707,587
• 2017:  $583,976

TCU paid for first class or charter travel. Specifically, charter travel was provided to Chancellor Boschini, Vice Chancellors (VC’s), the Athletic Director, and coaches for purposes of travel to certain athletic events. In addition, charter travel was provided to the Chancellor and VC’s for donor visits, visits to other universities, and funeral services.

TCU paid for social club dues and initiation fees in accordance with employment contracts or approval by the chancellor in accordance with the person’s position. Social club dues were provided for Victor Boscini, Kathryn Cavins Tull, James Dixon, Jeremiah Donati, Stuart Flynn, James Hills Gary Patterson, Jennifer Raegan Pebley, Kirk Saarloos, and Donald Whelan.  Social club dues for business purposes were provided for teresa Abi-Nader Dahlberg and Jason Safran.

TCU paid for companion travel.

TCU paid for personal services (i.e. maid, chauffeur, chef). Specifically, the Chancellor received limited housekeeping services.

TCU provided a residence for personal use or a housing allowance. Specifically, the Chancellor was provided a residence for personal use while Theresa Abi-Nader was provided a $24,000 housing allowance.

Gary Patterson received a lump sum separation payment of $11,449,656 during 2021.

For more information and details on contributions to deferred compensation plans, see the Form 990, Schedule J, Part III Supplemental Information.

90 independent contractors received more than $100,000 in compensation with the five most highly compensated reported to be:

• $21 million:  Sodexo Inc and Affiliates, of Atlanta, GA for dining services
• $10 million:  Turner Construction Company, of Dallas, TX for construction services
• $ 3 million:  Hunt Construction Group, of Dallas, TX for construction services
• $ 2 million:  Linbeck Group LLC, of Fort Worth, TX for construction services
• $ 2 million:  Blackmon-Mooringbms Cat LLC, of Haltom City, TX for cleaning services

In summary, TCU raised nearly $1.2 billion in 2022 with the largest source reported to be tuition and fees (about $600 million). Tuition and fees are about $80,000 annually although 7,000 of the 11,000 undergraduate students received an average cash grant of $32,000 (approximately $260 million was awarded to both undergraduate and graduate students).  Expenses were $920 million or about $250 million less than the organization raised, contributing to TCU’s  accumulation of $3.1 billion in net assets.  In other words, TCU raised enough revenue to cover all expenses (including $260 million in cash grants to students) and still had $250 million left over at the end of the year to add to the general fund.

The 21 most highly compensated employees received $34 million while the 10 most highly compensated employees received $114 million in compensation from 2017-2022.

To read the Form 990 (2021 for the year ending June 30, 2022), click here.