Trustees of Tufts College

EIN: 042103634 501(c)(3) Education

Medford, MA

Total Revenue
$1,339,090,449
Total Expenses
$1,323,001,574
Total Assets
$4,585,938,808
Net Assets
$3,328,808,111
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1852
Legal Domicile
MA
Phone
6176274337
Tax Period
2022-07-01 to 2023-06-30

Trustees of Tufts College, founded in 1852, is a large national nonprofit in the Education sector that reported $1.3B in total revenue in fiscal year 2022. Revenue decreased 7% compared to the prior year. Net assets of $3.3B represent 30 months of operating reserves.

Mission

Tufts University is a student-centered research INSTITUTION dedicated to the creation and application of knowledge. With approximately 12,719 full-time students from 115 countries, we are committed to providing A transformative experience for students and faculty in an inclusive and collaborative environment where creative scholars generate bold ideas, innovate in the face of complex challenges and distinguish themselves as active citizens of the world. TUFTS UNIVERSITY'S FOCUS ON INNOVATION AND PROGRESSIVE THINKING TOOK ROOT AT ITS FOUNDING AS A LIBERAL ARTS COLLEGE IN 1852. TODAY, TUFTS UNDERGRADUATE, GRADUATE AND PROFESSIONAL SCHOOLS ARE RECOGNIZED FOR THEIR DEDICATION TO EDUCATING NEW LEADERS FOR OUR CHANGING WORLD AND TUFTS IS RECOGNIZED AMONGST THE MOST SELECTIVE ACADEMIC AND RESEARCH UNIVERSITIES IN THE UNITED STATES. SUPERB TEACHING AND WORLD-CLASS RESEARCH EQUIP TUFTS GRADUATES TO ADDRESS MULTI-FACETED CHALLENGES AROUND THE GLOBE. CREATIVE CROSS-SCHOOL COLLABORATIONS AND MULTIDISCIPLINARY CENTERS ENGAGE STUDENTS IN SEEKING SOLUTIONS TO COMPLEX ECONOMIC, HEALTH, POLITICAL AND ENVIRONMENTAL ISSUES EVEN BEFORE THEY GRADUATE. A GROWING NUMBER OF INNOVATIVE RESEARCH INITIATIVES AND JOINT DEGREE PROGRAMS ARE AVAILABLE FOR BOTH UNDERGRADUATE AND GRADUATE STUDENTS IN LIBERAL ARTS, SCIENCES AND ENGINEERING AND THE UNIVERSITY'S GRADUATE AND PROFESSIONAL SCHOOLS.

Program Service Accomplishments

Program 1
Expenses: $696,774,360 Revenue: $804,705,831

INSTRUCTION - DURING THE 2022-2023 ACADEMIC YEAR, THE FOLLOWING DEGREES WERE CONFERRED: 1,648 UNDERGRADUATE, 1,804 GRADUATE, 573 PROFESSIONAL AND 204 CERTIFICATE.

Program 2
Expenses: $326,232,573 Revenue: $127,094,389

RESEARCH -THERE WERE 1,138 GOVERNMENT AND 707 NON-GOVERNMENT GRANTS ACTIVE IN FISCAL YEAR 2023. SPONSORED RESEARCH AT TUFTS WAS PERFORMED IN THE MEDICAL, DENTAL, AND VETERINARY SCHOOLS AS WELL AS IN...

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RESEARCH -THERE WERE 1,138 GOVERNMENT AND 707 NON-GOVERNMENT GRANTS ACTIVE IN FISCAL YEAR 2023. SPONSORED RESEARCH AT TUFTS WAS PERFORMED IN THE MEDICAL, DENTAL, AND VETERINARY SCHOOLS AS WELL AS IN THE BASIC SCIENCE DEPARTMENTS OF ARTS & SCIENCE & ENGINEERING. RESEARCH IS ALSO BEING PERFORMED AT THE USDA HUMAN NUTRITION RESEARCH CENTER ON AGING. ALSO, CLINICAL AND OTHER RESEARCH ACTIVITIES INCLUDE 27 CLINICS THAT ARE OPERATED BY THE DENTAL AND VETERINARY SCHOOLS TO TRAIN STUDENTS AND SUPPORT THEIR RESEARCH. OTHER EDUCATIONAL ACTIVITIES INCLUDE, AMONG OTHERS, VETERINARY SCHOOL NEWSLETTERS AND CONTINUING EDUCATION PROGRAMS FOR HEALTH SCHOOL PROFESSIONALS.

Program 3
Expenses: $106,038,920 Revenue: $6,535,600

AUXILIARY ENTERPRISES - ACTIVITIES PRIMARILY CONSIST OF SERVICES FOR STUDENTS, INCLUDING STUDENT HOUSING, DINING SERVICES AND HEALTH SERVICES. DURING THE 2023 FISCAL YEAR THERE WERE 54 RESIDENCE...

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AUXILIARY ENTERPRISES - ACTIVITIES PRIMARILY CONSIST OF SERVICES FOR STUDENTS, INCLUDING STUDENT HOUSING, DINING SERVICES AND HEALTH SERVICES. DURING THE 2023 FISCAL YEAR THERE WERE 54 RESIDENCE HALLS HOUSING 4,079 STUDENTS. APPROXIMATELY 5,433 MEAL PLANS WERE SOLD TO STUDENTS EACH SEMESTER.

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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 $341,596,825
Program Service Revenue $938,845,352
Investment Income $58,744,799
Other Revenue $-96,527
TOTAL REVENUE $1,339,090,449

Expense Breakdown

Grants Paid $215,359,131
Salaries & Benefits $697,679,355
Fundraising Expenses $27,834,126
Program Expenses $1,129,045,853
Other Expenses $408,136,683
TOTAL EXPENSES $1,323,001,574

Year-over-Year Comparison

2022 2021 Change
Revenue $1,339,090,449 $1,433,143,172 -0.1%
Expenses $1,323,001,574 $1,252,572,176 +0.1%
Net Income $16,088,875 $180,570,996 -0.9%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
41
Independent Members
39
Employees
13151
Volunteers
N/A

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
16
$7,400,405
Total Directors
45
$1,257,795
Key Employees
6
$2,848,784
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A Trustee & University President - End Date 6/30/2023 60.0
Officer Director
$1,073,523 $184,272 $1,257,795
N/A Trustee - Vice Chair 3.0
Officer Director
$0 $0 $0
N/A Trustee - Chairman 3.0
Officer Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee - Start Date 11/5/2022 3.0
Director
$0 $0 $0
N/A Trustee - Start Date 11/5/2022 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee - End Date 11/5/2022 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee - Start Date 11/5/2022 3.0
Director
$0 $0 $0
N/A Trustee - End Date 11/5/2022 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee - Start Date 11/5/2022 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee - End Date 11/5/2022 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee - End Date 11/5/2022 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A Trustee 3.0
Director
$0 $0 $0
N/A See Schedule O for Title 40.0
Officer
$232,697 $32,287 $264,984
N/A VP Operations 40.0
Officer
$354,175 $66,624 $420,799
N/A Provost and Senior Vice President Ad Interim 40.0
Officer
$608,307 $61,844 $670,151
N/A VP - Information Technology, CIO 40.0
Officer
$428,203 $63,507 $491,710
N/A Associate Treasurer 40.0
Officer
$210,026 $75,343 $285,369
N/A SVP - University Advancement 40.0
Officer
$548,036 $62,009 $610,045
N/A CFO, VP-Finance & Treasurer 40.0
Officer
$475,603 $49,135 $524,738
N/A VP Human Resources 40.0
Officer
$362,592 $62,009 $424,601
N/A SVP - University Relations and General Counsel 40.0
Officer
$536,767 $49,235 $586,002
N/A VP Communications & Marketing 40.0
Officer
$256,523 $63,269 $319,792
N/A Executive VP 40.0
Officer
$636,338 $68,268 $704,606
N/A Secretary of Corporation 40.0
Officer
$181,608 $175,930 $357,538
N/A VP Development 40.0
Officer
$433,563 $48,712 $482,275
N/A Dean Cummings School 40.0
Key Emp
$328,218 $62,363 $390,581
N/A Dean School for Graduate Biomedical Sciences End Date 6/30/2023 40.0
Key Emp
$267,281 $38,346 $305,627
N/A Dean of Medical School - Start Date 7/1/2022 40.0
Key Emp
$678,871 $64,684 $743,555
N/A Dean Arts & Sciences 40.0
Key Emp
$433,746 $48,509 $482,255
N/A Dean of Engineering 40.0
Key Emp
$349,624 $67,082 $416,706
N/A Dean Dental School 40.0
Key Emp
$440,014 $70,046 $510,060
N/A Dean of Global Business 40.0
Highest
$394,616 $64,006 $458,622
N/A Chief Investment Officer 40.0
Highest
$543,276 $71,716 $614,992
N/A Dean Friedman School 40.0
Highest
$415,039 $69,343 $484,382
N/A Professor & Senior Advisor to Dean 40.0
Highest
$771,342 $64,751 $836,093
N/A Dean Fletcher School 40.0
Highest
$436,730 $38,700 $475,430
N/A Interim VP Human Resources - End Date 7/20/2020 40.0
$184,608 $31,146 $215,754
N/A Interim Provost & Sr VP - End Date 6/30/2019 40.0
$233,639 $25,884 $259,523
N/A Interim VP - Communications & Marketing - End Date 8/27/2018 40.0
$202,455 $31,371 $233,826
N/A Interim Dean Cummings School - End Date 7/14/2019 40.0
$181,576 $30,081 $211,657
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 $1,339,090,449 $1,323,001,574 $4,585,938,808 $16,088,875
2022 $1,433,143,172 $1,252,572,176 $4,549,997,073 $180,570,996
2021 $1,328,201,622 $1,138,493,828 $4,849,020,407 $189,707,794
2020 $1,118,552,829 $1,086,530,539 $3,763,335,065 $32,022,290
2019 $1,234,322,522 $1,078,435,077 $3,756,859,625 $155,887,445
2018 $1,144,480,452 $1,034,608,728 $3,646,586,839 $109,871,724
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