NORTHEASTERN UNIVERSITY

EIN: 041679980 501(c)(3) Education

BOSTON, MA

Total Revenue
$2,586,227,003
Total Expenses
$2,460,539,353
Total Assets
$5,973,617,000
Net Assets
$3,720,467,000
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1898
Legal Domicile
MA
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

THE UNIVERSITY WILL APPROVE FIRST CLASS AIR TRAVEL, IF BUSINESS CLASS IS NOT AVAILABLE, FOR THE PRESIDENT AS APPROPRIATE. TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED IN TAXABLE WAGES. THE PRESIDENT HAS AUTHORITY TO APPROVE FIRST CLASS TRAVEL IF NECESSARY IN CERTAIN CIRCUMSTANCES FOR INDIVIDUALS LISTED IN SCHEDULE J, PART II. ONE OFFICER USED SUCH ACCOMMODATIONS FOR BUSINESS PURPOSES DURING THE YEAR ENDED DECEMBER 31, 2022. THE PRESIDENT'S SPOUSE TRAVELS ON OCCASION WITH THE PRESIDENT WHEN NECESSARY FOR BUSINESS PURPOSES AND UPON APPROVAL OF THE CHAIRMAN OF THE BOARD. TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED IN TAXABLE WAGES. HOUSING IS PROVIDED FOR THE PRESIDENT AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE EMPLOYER AND IS NOT INCLUDED IN TAXABLE WAGES. TWO KEY EMPLOYEES WERE PROVIDED WITH HOUSING ALLOWANCES WHICH ARE INCLUDED AS TAXABLE WAGES IN SCHEDULE J, PART II, COLUMN (B) (III). SOCIAL CLUB DUES ARE PROVIDED FOR THE PRESIDENT. USE OF THE SOCIAL CLUB IS FOR BUSINESS PURPOSES ONLY AND DUES ARE NOT INCLUDED IN TAXABLE WAGES.

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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%)

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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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Liquidity & Cash Position

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Governance

Voting Members
35
Independent Members
34
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
$7,880,830
Total Directors
35
$2,228,952
Key Employees
5
$3,023,150
Highest Compensated
5
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
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