Penn has four undergraduate schools as well as twelve graduate and professional schools. Schools enrolling undergraduates include the College of Arts and Sciences, the School of Engineering and Applied Science, the Wharton School, and the School of Nursing. Penn’s “One University Policy” allows students to enroll in classes in any of Penn’s twelve school
, and the first collegiate business school (Wharton School, 1881). Penn is also home to the first “student union” building and organization (Houston Hall, 1896), the first Catholic student club in North America (Newman Center, 1893),
 the first double-decker college football stadium (Franklin Field, 1924 when second deck was constructed), and Morris Arboretum, the official arboretum of the Commonwealth of Pennsylvania.
As of June 30, 2021, the university had an endowment of $20.5 billio
n and in 2019 had a research budget of $1.02 billion. The university’s athletics program, the Quakers, fields varsity teams in 33 sports as a member of the NCAA Division I Ivy League conference.
As of 2018, distinguished alumni and trustees include three U.S. Supreme Court justices, 32 U.S. senators, 46 U.S. governors, 163 members of the U.S. House of Representatives, eight signers of the Declaration of Independence[22
 As of October 2019, 36 Nobel laureates, 80 members of the American Academy of Arts and Sciences, 64 living alumni billionaires (and with 25 undergraduate alumni billionaires has the most living undergraduate alumni billionaires of any university in the world), 21 Marshall Scholars, 33 Rhodes Scholars, 16 Pulitzer Prize winners, 43 Olympic medal winners (who won 81 medals, 26 of them gold), and five United States Medal of Honor recipients have been affiliated with the university.