Yale University (EIN 060646973) - Form 990 Financial Analysis & Trantor Score

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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

1701

Legal Domicile

Phone

2034325530

Tax Period

2023-07-01 to 2024-06-30

Yale University, founded in 1701, is a large national nonprofit in the Education sector that reported $6.8B in total revenue in fiscal year 2023. Revenue grew 8% year-over-year, indicating healthy expansion. Expenses of $6.2B left a modest 9% surplus.

Mission

TO IMPROVE THE WORLD THROUGH RESEARCH, SCHOLARSHIP, EDUCATION, PRESERVATION, AND PRACTICE.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,419,967,393

Program Service Revenue $2,982,357,785

Investment Income $2,379,740,354

Other Revenue $59,190,547

TOTAL REVENUE $6,841,256,079

Expense Breakdown

Grants Paid $800,884,314

Salaries & Benefits $3,345,923,969

Fundraising Expenses $86,668,255

Program Expenses $5,323,090,755

Other Expenses $2,050,262,976

TOTAL EXPENSES $6,197,071,259

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,841,256,079	$6,315,023,788	+0.1%
Expenses	$6,197,071,259	$5,612,701,248	+0.1%
Net Income	$644,184,820	$702,322,540	-0.1%

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

34705

Volunteers

15000

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

$9,743,642

Total Directors

$2,453,342

Key Employees

$5,632,372

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Peter Salovey	Trustee & President	50.0	Officer Director	$2,335,529	$117,813	$2,453,342
Ann Miura-Ko	Trustee	5.0	Director	$0	$0	$0
Carlos R Moreno	Trustee	5.0	Director	$0	$0	$0
Catharine B Hill	Trustee	5.0	Director	$0	$0	$0
David A Thomas	Trustee	5.0	Director	$0	$0	$0
David Sze	Trustee	5.0	Director	$0	$0	$0
Edward Miner Ned Lamont Jr	Trustee (ex-officio)	0.0	Director	$0	$0	$0
Fred Krupp	Trustee	5.0	Director	$0	$0	$0
Gina R Boswell	Trustee	5.0	Director	$0	$0	$0
Joshua Bekenstein	Trustee	5.0	Director	$0	$0	$0
Joshua L Steiner	Trustee	5.0	Director	$0	$0	$0
Marta L Tellado	Trustee	5.0	Director	$0	$0	$0
Maryana Iskander	Trustee	5.0	Director	$0	$0	$0
Maurie McInnis	Trustee (through 5/29/24)	5.0	Director	$0	$0	$0
Michael J Cavanagh	Trustee	5.0	Director	$0	$0	$0
Michael Warren	Trustee	5.0	Director	$0	$0	$0
Neal S Wolin	Trustee	5.0	Director	$0	$0	$0
Susan Bysiewicz	Trustee (ex-officio)	0.0	Director	$0	$0	$0
William E Kennard	Trustee	5.0	Director	$0	$0	$0
Alexander E Dreier	Sr VP for Institutional Affairs	50.0	Officer	$881,218	$108,059	$989,277
Jack F Callahan Jr	Sr VP for Operations	50.0	Officer	$828,950	$84,427	$913,377
Jack Michael Bellamy	VP for Facilities, Campus Development & Sustainability	50.0	Officer	$663,536	$42,354	$705,890
Joan E O'Neill	VP for Alumni Affairs & Development	50.0	Officer	$817,363	$75,238	$892,601
John Barden	VP for Technology and Campus Services	50.0	Officer	$472,613	$75,028	$547,641
John Whelan	VP for HR	50.0	Officer	$435,377	$76,436	$511,813
Kimberly M Goff-Crews	Secretary & VP for University Life	50.0	Officer	$530,671	$50,442	$581,113
Renee Kopkowski	VP for Communications	50.0	Officer	$393,137	$59,708	$452,845
Scott A Strobel	Provost	50.0	Officer	$887,887	$64,463	$952,350
Stephen C Murphy	VP for Finance & CFO	50.0	Officer	$596,624	$146,769	$743,393
Matthew S T Mendelsohn	Chief Investment Officer	50.0	Key Emp	$2,320,131	$2,122,959	$4,443,090
Nancy J Brown	Dean, School of Medicine	50.0	Key Emp	$1,130,957	$58,325	$1,189,282
Alex Hetherington	Managing Director, Investments	50.0	Highest	$1,772,887	$72,967	$1,845,854
Amelia Chivetta	Managing Director, Investments	50.0	Highest	$1,671,148	$51,966	$1,723,114
John Ricotta	Managing Director, Investments	50.0	Highest	$1,703,069	$75,217	$1,778,286
Murat Gunel	Chair, Neurosurgery	50.0	Highest	$1,683,353	$87,625	$1,770,978
Timothy R Sullivan	Sr Director of Private Equity	50.0	Highest	$2,057,602	$78,399	$2,136,001
Alexander C Banker	Former Director of Investments	50.0		$1,607,501	$79,575	$1,687,076
Benjamin Polak	Former Provost	50.0		$496,033	$63,802	$559,835
Dean J Takahashi	Former Sr Director, Investments	50.0		$540,712	$52,974	$593,686
Karen Peart	Former Interim VP for Communications	50.0		$238,586	$38,803	$277,389
Pericles Lewis	Former VP for Global Strategy	50.0		$539,793	$127,151	$666,944
Robert J Alpern	Former Dean, School of Medicine	50.0		$344,409	$39,793	$384,202

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	$6,841,256,079	$6,197,071,259	$55,210,972,740	$644,184,820
2023	$6,315,023,788	$5,612,701,248	$54,308,947,172	$702,322,540
2022	$7,410,414,729	$5,113,408,089	$54,599,818,948	$2,297,006,640
2021	$7,616,500,018	$4,656,059,084	$56,104,600,801	$2,960,440,934
2020	$5,595,177,145	$4,581,336,832	$44,198,683,391	$1,013,840,313
2019	$5,551,534,852	$4,314,687,059	$40,533,606,066	$1,236,847,793
2018	$5,089,937,007	$4,121,360,611	$39,065,768,707	$968,576,396

Yale University