Baylor University 
The information on this page was last updated 2/5/2026. If you see errors or omissions, please email: [email protected]
Summary
Baylor provides a vibrant campus community for more than 20,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship.
Contact information
Mailing address:
Baylor University
One Bear Place #97043
Waco, TX 76798
Website: baylor.edu
Phone: 800-229-5678
Email: [email protected]
Organization details
EIN: 741159753
CEO/President: Dr. Linda A. Livingstone
Chairman: Bill Mearse
Board size: 34
Founder: William Tryon, R.E.B. Baylor, and James Huckins
Ruling year: 1991
Tax deductible: Yes
Fiscal year end: 05/31
Member of ECFA: No
Member of ECFA since:
Purpose
Our goal is intellectual activity that springs from disciplined habits of the heart and inspires action on behalf of the world.
Mission statement
The mission of Baylor University is to educate men and women for worldwide leadership and service by integrating academic excellence and Christian commitment within a caring community.
Statement of faith
This statement of faith reflects the consensus of the faculty and administration of George W. Truett Theological Seminary; it is not a creed or instrument of doctrinal accountability but an expression of general doctrinal agreement.
We believe that Jesus Christ is God, Savior and Lord of all creation; he is the perfect revelation of God as well as God incarnate, the only mediator between God and humanity.
We believe in the omnipotent God who eternally exists as Father, Son and Holy Spirit: three divine persons sharing one eternal divine life and being. God is the creator of all whose rule knows no end.
We believe that human persons are created in God's image and likeness but that all persons (except Jesus Christ) come into the world under the curse of sin and need redemption when they attain the age of accountability.
We believe the cross and resurrection of Jesus Christ provide the only redemption from sin and that Christ died for all people; reconciliation and new life connected to God are possible only through his death and resurrection.
We believe that salvation is by God's grace alone through faith and that people cannot save themselves by works of righteousness but that works of righteousness are products of the Holy Spirit who indwells believers by faith.
We believe that authentic Christian life begins with conversion to Christ which involves repentance and faith in him; conversion to Christ results in justification (forgiveness) and regeneration (new birth). These are gifts that cannot be earned or inherited.
We believe that the sixty-six books of Holy Scripture are inspired by God's Spirit and are the sole supreme authority under God for Christian believing and living; Jesus Christ is the norm by which we interpret Scripture. Creeds and confessional statements are not instruments of doctrinal accountability but expressions of common faith under the authority of Christ and Scripture.
We believe that the church was instituted by Jesus Christ to be the people of God and is made up of all true believers regardless of race, gender, age or station in life; the church visible is the local congregation of believers.
We regard evangelism and missions for the salvation of the lost and social transformation to be essential works of the church as well as individual callings.
We believe in the autonomy of the local congregation, separation of church and state and voluntary cooperation between congregations for evangelism and education.
We believe in freedom of conscience from government domination or control and in the liberty and competency of every Christian believer to interpret Scripture and go directly to God in prayer.
We believe in two ordinances instituted by Christ to be observed by his people until he returns: water baptism of believers by immersion and the Lord's Supper.
We believe, on the basis of biblical teaching and together with the vast majority of Christians throughout the ages, that sex is intended by God solely for marriage between one man and one woman.
We believe that Jesus Christ will return to raise all the dead, judge people and nations, consign Satan and his followers to hell and bring into heaven all who believe in him by faith.
Articles
Donor confidence score
Show donor confidence score details
To understand our donor confidence score, click here.
Transparency grade
C
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Colleges/Universities
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 1181 of 1420 | 138 of 155 |
| Fund acquisition rating | | 812 of 1420 | 90 of 155 |
| Resource allocation rating | | 914 of 1420 | 94 of 155 |
| Asset utilization rating | | 1283 of 1421 | 147 of 155 |
According to the organization's Form 990, it received $14,183,018 in government grants in 2025.
To understand our financial efficiency ratings, click here.
Financial ratios
| Funding ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 13% | 17% | 23% | 11% | 11% | 11% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 2% | 1% | 1% | 1% | 1% | 1% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 15% | 7% | 5% | 10% | 10% | 9% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 2% | 1% | 1% | 1% | 1% | 1% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 85% | 93% | 95% | 90% | 90% | 91% |
| Operating ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Program expense ratio Program expense ratio = Program services / Total expenses | 84% | 82% | 79% | 88% | 89% | 89% |
Spending ratio Spending ratio = Total expenses / Total revenue | 96% | 96% | 96% | 89% | 88% | 91% |
Program output ratio Program output ratio = Program services / Total revenue | 81% | 79% | 77% | 78% | 78% | 81% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 4% | 4% | 4% | 11% | 12% | 9% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 2% | 2% | 2% | 6% | 6% | 4% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 14% | 17% | 19% | 11% | 10% | 10% |
| Investing ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.53 | 0.34 | 0.34 | 0.32 | 0.31 | 0.35 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.73 | 8.79 | 8.73 | 7.71 | 7.27 | 6.53 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.45 | 3.02 | 2.93 | 2.48 | 2.29 | 2.30 |
| Liquidity ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Current ratio Current ratio = Total current assets / Total current liabilities | 8.18 | 2.05 | 1.88 | 2.27 | 2.56 | 2.72 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.12 | 0.49 | 0.53 | 0.44 | 0.39 | 0.37 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.96 | 2.04 | 1.92 | 2.71 | 3.20 | 3.29 |
| Solvency ratios | Sector median | 2025 | 2024 | 2023 | 2022 | 2021 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 20% | 26% | 24% | 25% | 26% | 25% |
Debt ratio Debt ratio = Debt / Total assets | 10% | 6% | 4% | 5% | 5% | 2% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 148% | 216% | 225% | 233% | 236% | 213% |
Financials
| Balance sheet | |||||
| Assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Cash | $223,032,049 | $225,930,868 | $266,094,364 | $311,573,578 | $309,235,788 |
| Receivables, inventories, prepaids | $256,455,607 | $237,882,734 | $239,292,455 | $212,913,127 | $210,119,256 |
| Short-term investments | $18,948,343 | $16,892,760 | $14,044,629 | $15,832,211 | $16,340,204 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $498,435,999 | $480,706,362 | $519,431,448 | $540,318,916 | $535,695,248 |
| Long-term investments | $2,390,715,346 | $2,274,857,747 | $2,232,895,255 | $2,288,708,267 | $1,891,378,418 |
| Fixed assets | $1,493,332,490 | $1,439,732,270 | $1,250,783,934 | $1,100,310,329 | $1,072,204,458 |
| Other long-term assets | $473,611 | $238,036 | $219,947 | $159,083 | $87,010 |
| Total long-term assets | $3,884,521,447 | $3,714,828,053 | $3,483,899,136 | $3,389,177,679 | $2,963,669,886 |
| Total assets | $4,382,957,446 | $4,195,534,415 | $4,003,330,584 | $3,929,496,595 | $3,499,365,134 |
| Liabilities | 2025 | 2024 | 2023 | 2022 | 2021 |
| Payables and accrued expenses | $120,781,075 | $155,014,664 | $116,243,590 | $81,488,761 | $67,419,283 |
| Other current liabilities | $122,335,197 | $100,467,029 | $112,435,104 | $129,238,347 | $129,410,829 |
| Total current liabilities | $243,116,272 | $255,481,693 | $228,678,694 | $210,727,108 | $196,830,112 |
| Debt | $269,256,667 | $187,861,533 | $193,683,303 | $209,222,590 | $63,220,439 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $629,448,294 | $580,115,662 | $581,579,653 | $597,303,432 | $608,587,387 |
| Total long-term liabilities | $898,704,961 | $767,977,195 | $775,262,956 | $806,526,022 | $671,807,826 |
| Total liabilities | $1,141,821,233 | $1,023,458,888 | $1,003,941,650 | $1,017,253,130 | $868,637,938 |
| Net assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Without donor restrictions | $1,313,960,038 | $1,304,899,330 | $1,142,505,614 | $1,083,057,145 | $942,618,288 |
| With donor restrictions | $1,927,176,175 | $1,867,176,197 | $1,856,883,320 | $1,829,186,320 | $1,688,108,908 |
| Net assets | $3,241,136,213 | $3,172,075,527 | $2,999,388,934 | $2,912,243,465 | $2,630,727,196 |
| Revenues and expenses | |||||
| Revenue | 2025 | 2024 | 2023 | 2022 | 2021 |
| Total contributions | $103,290,370 | $75,563,779 | $150,556,686 | $137,489,560 | $117,906,363 |
| Program service revenue | $1,296,161,338 | $1,229,447,252 | $1,169,082,158 | $1,156,294,638 | $1,134,030,025 |
| Membership dues | $13,839,606 | $18,968,060 | $17,471,904 | $15,696,108 | $13,020,257 |
| Investment income | $127,954,253 | $124,858,026 | $107,162,532 | $79,137,746 | $75,987,148 |
| Other revenue | $17,105,898 | $13,659,889 | $9,838,302 | $11,859,706 | $9,370,857 |
| Total other revenue | $1,455,061,095 | $1,386,933,227 | $1,303,554,896 | $1,262,988,198 | $1,232,408,287 |
| Total revenue | $1,558,351,465 | $1,462,497,006 | $1,454,111,582 | $1,400,477,758 | $1,350,314,650 |
| Expenses | 2025 | 2024 | 2023 | 2022 | 2021 |
| Program services | $1,231,376,481 | $1,120,472,160 | $1,127,812,321 | $1,098,541,091 | $1,093,438,487 |
| Management and general | $254,558,915 | $272,485,650 | $143,203,943 | $121,664,515 | $128,084,046 |
| Fundraising | $17,784,013 | $17,478,599 | $15,999,092 | $15,036,204 | $12,986,085 |
| Total expenses | $1,503,719,409 | $1,410,436,409 | $1,287,015,356 | $1,235,241,810 | $1,234,508,618 |
| Change in net assets | 2025 | 2024 | 2023 | 2022 | 2021 |
| Surplus (deficit) | $54,632,056 | $52,060,597 | $167,096,226 | $165,235,948 | $115,806,032 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $54,632,056 | $52,060,597 | $167,096,226 | $165,235,948 | $115,806,032 |
Compensation
| Name | Title | Compensation |
| Scott Drew | Head Men's Basketball Coac | $6,836,352 |
| Dave Aranda | Football Head Coach | $4,559,637 |
| Mack Rhoades | VP & Director of Athletics | $3,600,357 |
| Linda Livingstone | President | $3,033,323 |
| Nicki Collen | Head Women's Basketball Co | $1,507,736 |
| David Morehead | Chief Investment Officer | $1,313,656 |
| Jacob Spavital | Football Offensive Coordinator | $1,060,444 |
| Renee Hanna | Managing Dir of Investments | $918,155 |
| Nancy Brickhouse | Vice President and Provost | $800,285 |
| Chris Holmes | General Counsel & Chief Le | $753,288 |
| Jason Cook | VP For Mkt & Comm & CMO | $682,098 |
| Jason Diffenderfer | VP For University Advancem | $573,074 |
| Curtis Reynolds | VP of Business & Finance & | $564,438 |
| Gary Carini | Vice Provost | $505,931 |
| Robyn Driskell | VP & Chief Compliance Officer | $500,491 |
| Cheryl Gochis | VP and Chief HR Officer | $481,548 |
| Toby Barnett | Assoc VP of Engagement | $464,876 |
| Susan Anz | Sr Assoc VP of Fin & Treas | $458,513 |
| Kevin Jackson | Vice President For Student | $418,114 |
| Lee Nordt | Dean of Arts & Sciences | $378,692 |
| Tiffany Hogue | Chief of Staff To the Pres | $355,096 |
| Kristy J Orr | Board Professional | $335,316 |
| Dave Clendennen | Asst VP For Fin Sys & Asst | $225,527 |
| Brett Powell | Assoc VP of Finance (thru 07/2024) | $204,661 |
| Andrew Arterbury | Regent | $197,151 |
| Lesley McAllister | Regent | $149,764 |
| Felicia Cruz | Dir of Legal Intl Services | $94,117 |
| Taylor J Perry | Asst To General Counsel & Admin Director | $80,771 |
| Meghan Fletcher | Regent | $11,590 |
| Stephen Wells | Regent | $5,666 |
| Michael McFarland | Regent | $5,153 |
| Michael P Heiskell | Regent | $3,060 |
| Xavier Dawes | Regent | $2,902 |
| Rene Maciel | Regent | $1,788 |
| Manny Ruiz | Regent | $1,103 |
| Katie Jo Luningham | Regent | $1,024 |
| Don Willet | Regent | $913 |
| Barbara Cargill | Regent | $894 |
| Carey Hendrickson | Regent | $843 |
| Sarah Gahm | Regent | $823 |
| Martha Delehanty | Regent | $488 |
| Angelique Cunningham | Regent | $407 |
| William Mearse | Regent | $397 |
| Ashley Hooper | Regent | $296 |
| Tyler C Cooper | Regent | $188 |
| Jill Manning | Regent | $184 |
| Gail Stewart | Regent | $168 |
| B Todd Patterson | Regent | $164 |
| Todd A Reppert | Regent | $164 |
| Alicia Dh Monroe | Regent | $153 |
| David Brooks | Regent | $153 |
| Jack Harper | Regent | $153 |
| Jay A Brown | Regent | $153 |
| Julie Hermansen Turner | Regent | $153 |
| Melissa Purdy Mines | Regent | $153 |
| Paula Hurd | Regent | $153 |
| Charles Williams | Regent | $76 |
| Kyle Deaver | Regent | $69 |
Compensation data as of: 5/31/2025
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 2/5/2026. To update the information below, please email: [email protected]
History
In 1841, 35 delegates to the Union Baptist Association meeting accepted the suggestion of Reverend William Milton Tryon and District Judge R.E.B. Baylor to establish a Baptist university in Texas.
The Texas Baptist Education Society then petitioned the Congress of the Republic of Texas to charter a Baptist university in the fall of 1844. Republic President Anson Jones signed the Act of Congress on Feb. 1, 1845, officially establishing Baylor University. Reverend James Huckins, the first Baptist missionary to Texas, was Baylor's first full-time fundraiser and the third founding father of the university. Although these three men are credited as being the founders of Baylor University, there are many others who worked to see our university established in Texas.
After the University was chartered on February 1, 1845, four communities made bids to be the location: Travis, Huntsville, Shannon's Prairie and Independence. Independence was selected, and classes for preparatory students began in May 1846 with college courses offered the following June. In 1886, Baylor and Waco University consolidated to form Baylor University at Waco.
From humble beginnings in Independence, Texas, the campus has grown to approximately 1,000 acres in Waco, Texas, annually educating more than 15,000 men and women to pursue their individual life callings.
These are exciting times in the life of the University - a period in which our institution is striving to remain both a relevant institution of higher learning for the coming years and to continue to fulfill our original mission laid down by our founders: to be a Christian University "fully susceptible of enlargement and development to meet the needs of all ages to come." In a world where faith is often the casualty of a serious pursuit of academic achievement, Baylor is a special place.
The ability and willingness of Baylor to adapt and change to achieve continual progress can be traced throughout its history. It has endured and survived hardships, from financial difficulties, to the Great Depression, to world wars. It made a historic and critical decision to move from Independence to Waco, its current home. It divested its medical and dental schools at a time when that proved to be the most prudent decision for the success of each program. It even had the foresight and fortitude to change its very charter to insulate the institution from denominational struggles.
Had Baylor and its leaders throughout history not faced these decisions and challenges with foresight and a commitment to progress, it would not be the leading university that it is today. The University's Pro Futuris vision will continue to help Baylor adapt and grow with the world around it, while ever strengthening its original mission and heritage.
Baylor is classified as a Doctoral University with Higher Research Activity by the Carnegie Commission on Higher Education. Baylor has an international reputation for educational excellence built upon the faculty's commitment to teaching, scholarship and interdisciplinary research that produces outstanding graduates.
Baylor University is a private Christian university and a nationally ranked liberal arts institution. Our rank of alumni include missionaries and pastors, heads of Fortune 500 companies, governors of Texas and professional athletes. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating university in the state.
Program accomplishments
Baylor is the oldest continually operating university in Texas. Located in Waco, Baylor welcomes students from all 50 states, the District of Columbia, and more than 90 countries to study a broad range of degrees among its 12 nationally recognized academic divisions.