IRS 990 form for AU – 2017-18

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The most recent IRS 990 form for Ashland University – this one covering the fiscal year 2017-18, is now available. I obtained the form from ProPublica’s Nonprofit Explorer. The form is not yet available on, which is where I have gotten forms in the past.

There were a couple of things that stood out to me, especially when I compared this year with the previous year, the biggest one being the 41 percent base compensation increase that Ashland University President Carlos Campo received. (Keep in mind that the salary figures on this form are for the calendar year 2017, and not for the fiscal or academic year.)

Campo received $218,504 in 2016 as his base pay. In 2017, that jumped to $308,247. His total compensation increased 16.8 percent, rising to $565,703. This includes retirement and deferred compensation ($96,794), as well as a column on the form listed as “Other reportable compensation.” That number in 2017 stood at $141,515, down by $1,905 from 2016.

The university also gave Campo a housing allowance of $24,000 in 2017 (AU gave former president Fred Finks $35,586 and former seminary president John Shultz $44,471 in housing allowances in 2015).

I was also surprised by the fact that AU paid Elad Granot, the dean of the College of Business and Economics $248,542 in base pay, making him the second-highest paid university employee. That meant he was making more than the provost, Eun-Woo Chang, whose base pay was $172,357.

Chang is no longer at the university. According to a story in the Times-Gazette, he resigned.

Finally, it looks as though the university’s endowment is finally growing. The 990-form showed the endowment sitting at $45,554,224, a more than $4-million growth over the year. Nearly $1.7 million of that came through contributions, while investments netted a nearly $3 million growth.

Oh, and one more thing; Ashland University still has a banking account in the Cayman Islands.

You can look at the entire document by clicking here: 2017 AU 990.

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