NORTHEASTERN UNIVERSITY

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1898

Legal Domicile

Principal Officer

JOSEPH E AOUN

Phone

6173735947

Tax Period

2022-07-01 to 2023-06-30

NORTHEASTERN UNIVERSITY, founded in 1898, is a large national nonprofit in the Education sector that reported $2.6B in total revenue in fiscal year 2022. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $2.5B left a modest 5% surplus.

Mission

Form 990, Parts I and III, line 1 To educate students for a life of fulfillment and accomplishment. To create and translate knowledge to meet global and societal needs. This mission inspires members of the University community in whatever they do - as students and scholars, as teachers and researchers, as mentors, as administrators, and as leaders. Northeastern's commitment to this mission is focused in three areas of distinction where the university can have the greatest effect on the lives of students and the wider world: experiential learning, use-inspired research, and global connection and engagement. By concentrating its energy in these areas, Northeastern is best positioned to set priorities, make decisions, and focus resources that allow the institution to achieve its goals as a leader in higher education.

Program Service Accomplishments

Program 1

Expenses: $629,255,000 Revenue: $1,994,854,503

Instruction NORTHEASTERN ENABLES 48,335 STUDENTS TO FULFILL THEIR EDUCATIONAL GOALS BY PROVIDING TEACHING AND ADVISING THAT RESULT IN THE GRANTING OF ASSOCIATE, BACHELOR, MASTER AND DOCTORAL DEGREES IN A VARIETY OF ACADEMIC DISCIPLINES. THE UNIVERSITY'S ACADEMIC AREAS CONSIST OF THE BOUVE COLLEGE OF HEALTH SCIENCE, COLLEGE OF ARTS, MEDIA AND DESIGN, D'AMORE-MCKIM SCHOOL OF BUSINESS, COLLEGE OF COMPUTER AND INFORMATION SCIENCE, COLLEGE OF ENGINEERING, COLLEGE OF PROFESSIONAL STUDIES, COLLEGE OF SCIENCE, COLLEGE OF SOCIAL SCIENCES AND HUMANITIES, AND SCHOOL OF LAW.

Program 2

Expenses: $504,607,293

Student financial aid Northeastern awards grants and scholarships to students from several sources: federal and state governments, institutionally-funded and endowment/donor funded. The Office of...

Student financial aid Northeastern awards grants and scholarships to students from several sources: federal and state governments, institutionally-funded and endowment/donor funded. The Office of Student Financial Services administers financial aid and is committed to working with students to identify financial aid options that can help make a Northeastern education affordable.

Program 3

Expenses: $177,742,000 Revenue: $189,642,000

Auxiliary enterprises NORTHEASTERN PROVIDES STUDENT HOUSING IN 34 RESIDENTIAL BUILDINGS AND OTHER RELATED PROGRAM SERVICES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $340,098,580

Program Service Revenue $2,184,496,503

Investment Income $47,959,405

Other Revenue $13,672,515

TOTAL REVENUE $2,586,227,003

Expense Breakdown

Grants Paid $548,952,267

Salaries & Benefits $1,014,936,453

Fundraising Expenses $40,977,936

Program Expenses $2,213,793,916

Other Expenses $896,650,633

TOTAL EXPENSES $2,460,539,353

Year-over-Year Comparison

	2022	2021	Change
Revenue	$2,586,227,003	$2,393,370,957	+0.1%
Expenses	$2,460,539,353	$2,146,870,270	+0.1%
Net Income	$125,687,650	$246,500,687	-0.5%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

22569

Volunteers

963

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$7,880,830

Total Directors

$2,228,952

Key Employees

$3,023,150

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Joseph E Aoun	President/Trustee	40.0	Officer Director	$1,678,748	$550,204	$2,228,952
Thomas Nedell	SVP Finance and Treasurer	40.0	Officer	$929,193	$232,000	$1,161,193
Diane N MacGillivray	SVP of University Advancement	40.0	Officer	$944,117	$174,739	$1,118,856
David Madigan	Provost & SVP	40.0	Officer	$977,817	$62,990	$1,040,807
SATYAJIT DATTAGUPTA	CHIEF ENRL OFF. (EFF 6/22)	40.0	Key Emp	$910,847	$25,888	$936,735
Kenneth W Henderson	Chancellor and SVP Learning	40.0	Officer	$665,860	$207,862	$873,722
MARY STROTHER	SVP & GEN COUNSEL	40.0	Officer	$726,394	$26,799	$753,193
USAMA M FAYYAD	EXEC. DIR - INSTITUTE FOR AI	40.0	Highest	$717,757	$34,100	$751,857
David Luzzi	Sr Vice Provost - Research	40.0	Highest	$687,010	$60,828	$747,838
ALEXANDROS MAKRIYANNIS	GEORGE D BEHRAKIS CHAIR	40.0	Highest	$690,609	$35,147	$725,756
JAMES HACKNEY	DEAN SCHOOL OF LAW	40.0	Highest	$632,156	$73,205	$705,361
Michael A Armini	SVP - External Affairs	40.0	Officer	$568,131	$135,976	$704,107
Emery Trahan UNTIL 622	Interim Dunton Family Dean	40.0	Key Emp	$630,815	$60,229	$691,044
William Coen	Head Coach Men's Basketball	40.0	Highest	$620,902	$60,801	$681,703
Gregory Abowd	Dean - COE	40.0	Key Emp	$541,286	$44,640	$585,926
ELIZABETH MYNATT EFF 122	DEAN-KHOURY COLLEGE COMP SCI	40.0	Key Emp	$517,647	$30,984	$548,631
Carmen Sceppa	Dean - Bouv Health Sciences	40.0		$463,629	$57,880	$521,509
Alan Mislove	PROF. & SR ASSOC DEAN	40.0		$368,321	$40,786	$409,107
Ralph C Martin II	SPECIAL ADVISOR TO PRESIDENT	40.0		$363,614	$31,665	$395,279
Jacqueline Isaacs	VICE PROVOST FACULTY AFFAIRS	40.0		$320,497	$31,183	$351,680
Mary Loeffelholz	PROFESSOR OF ENGLISH	40.0		$301,148	$44,803	$345,951
Jack Reynolds	Prof Pharmacy & Health System	40.0		$223,538	$49,606	$273,144
Sundar Kumarasamy	SR Vice Chancellor Strategic	40.0	Key Emp	$217,243	$43,571	$260,814
Jeffrey S Bornstein	Trustee	1.0	Director	$0	$0	$0
Subodh Chanrai	Trustee	1.0	Director	$0	$0	$0
Jeffrey J Clarke	Trustee	1.0	Director	$0	$0	$0
William J Conley	Trustee	2.0	Director	$0	$0	$0
Richard A D'Amore	Trustee/Chair	5.0	Director	$0	$0	$0
Susan Deitch	Trustee	1.0	Director	$0	$0	$0
Deborah Dunsire	Trustee	1.0	Director	$0	$0	$0
Spencer T Fung	Trustee	1.0	Director	$0	$0	$0
Edward G Galante	Trustee/VICE CHAIR	2.0	Director	$0	$0	$0
Sir Lucian Grainge CBE	Trustee	1.0	Director	$0	$0	$0
David House	Trustee	1.0	Director	$0	$0	$0
Frances N Janis	Trustee	2.0	Director	$0	$0	$0
Chaitanya Kanojia	Trustee	1.0	Director	$0	$0	$0
Amin Khoury	Trustee	1.0	Director	$0	$0	$0
Venetia Kontogouris	Trustee	1.0	Director	$0	$0	$0
William A Lowell	Trustee	2.0	Director	$0	$0	$0
Alan S McKim	Trustee/VICE CHAIR	2.0	Director	$0	$0	$0
Todd M Manganaro	Trustee	1.0	Director	$0	$0	$0
Anita Nassar	Trustee	1.0	Director	$0	$0	$0
James Pallotta	Trustee	1.0	Director	$0	$0	$0
IRENE PANAGOPOULOS	Trustee (EFF 9/22)	1.0	Director	$0	$0	$0
John V Pulichino	Trustee	1.0	Director	$0	$0	$0
Marcy L Reed	Trustee	2.0	Director	$0	$0	$0
KATHLEEN SANBORN	Trustee (EFF 9/22)	1.0	Director	$0	$0	$0
Winslow L Sargeant	Trustee	2.0	Director	$0	$0	$0
Jeannine P Sargent	Trustee	1.0	Director	$0	$0	$0
Ronald Sargent	Trustee	1.0	Director	$0	$0	$0
Maha Shair	Trustee	1.0	Director	$0	$0	$0
Melpomeni Travlos	Trustee	1.0	Director	$0	$0	$0
Jean-Pascal Tricoire	Trustee	1.0	Director	$0	$0	$0
Joseph M Tucci	Trustee	1.0	Director	$0	$0	$0
Christopher A Viehbacher	Trustee	1.0	Director	$0	$0	$0
Christophe P Weber	Trustee	1.0	Director	$0	$0	$0
Michael J Zamkow	Trustee	1.0	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$2,586,227,003	$2,460,539,353	$5,973,617,000	$125,687,650
2022	$2,393,370,957	$2,146,870,270	$5,456,278,000	$246,500,687
2021	$2,060,202,511	$1,846,626,305	$4,696,880,000	$213,576,206
2020	$1,943,632,573	$1,704,024,042	$3,597,441,000	$239,608,531
2019	$1,828,592,362	$1,623,876,099	$3,421,451,000	$204,716,263
2018	$1,691,438,907	$1,536,933,716	$2,991,273,000	$154,505,191