Yale University

EIN: 060646973 501(c)(3) Education

New Haven, CT

Total Revenue
$6,841,256,079
Total Expenses
$6,197,071,259
Total Assets
$55,210,972,740
Net Assets
$45,197,216,474
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Financial Trends

Organization Details

Formation Year
1701
Legal Domicile
CT
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

Yale University Financial Statements - Collections Footnote: Collections at Yale include works of art, literary works, historical treasures, and artifacts that are maintained in the University's museums and libraries. These collections are protected and preserved for public exhibition, education, research, and the furtherance of public service. Collections are not capitalized; purchases of collection items are recorded as expenses in the University's consolidated statement of activities in the period in which the items are acquired.

Program Service Accomplishments

Program 1
Expenses: $2,605,592,620 Revenue: $2,512,997,254

Instruction: The program service costs include salaries, fringe benefits and supplies of teaching approximately 15,000 students including 6,749 undergraduates and 8,263 graduate and professional...

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Instruction: The program service costs include salaries, fringe benefits and supplies of teaching approximately 15,000 students including 6,749 undergraduates and 8,263 graduate and professional school students. A faculty of nearly 5,500 teach and administer programs across a range of disciplines in the sciences and engineering, the social sciences, the humanities, and the various learned professions. More than 80 majors are available in the undergraduate college and more than 35 different degree programs are offered by the university. In addition to the graduate school of arts and sciences, the university has professional schools in disciplines of architecture, art, divinity, drama, engineering and applied science, global affairs, the environment, law, management, medicine, music, nursing, and public health.

Program 2
Expenses: $1,018,330,533 Revenue: $140,385,795

Student financial aid and services: Yale college admits students for their academic and personal promise without regard to their ability to pay. Yale is committed to an admissions policy that does...

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Student financial aid and services: Yale college admits students for their academic and personal promise without regard to their ability to pay. Yale is committed to an admissions policy that does not consider a student's ability to pay, and a financial aid policy that meets the full need of all students with no loans required. These two principles: need-blind admissions and need-based financial aid, ensure that a Yale education is affordable for everyone. With this policy, Yale strives to create a learning environment accessible to the most talented students from around the world and that incorporates the widest possible range of student backgrounds. In FY2024, 3,709 or 54% of undergraduates received need-based scholarships or grants from Yale sources of $65,347 on average. All of Yale's graduate and professional schools provide financial aid to their students based on their individual policies and procedures. This category of expenditures also includes: the operation of dining halls that provided 2,994,345 meals to students, faculty, and staff; maintenance of dormitories housing 5,120 undergraduates and 944 graduate and professional school students; operation and maintenance of athletic facilities for the 35 intercollegiate sports, over 20 intramural sports, and approximately 49 club sports teams offered at Yale. Also included are fitness, wellness, and instructional programs, parking facilities, laundry facilities, student centers, and other facilities and programs (including extracurricular activities and student health services) that provide support, services, and academic/cultural enrichment to the University's students.

Program 3
Expenses: $872,517,257 Revenue: $191,698,355

Research: The University engages in extensive research in medicine, science, engineering, the arts, social sciences, and humanities. The University's research activities are aimed at the advancement...

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Research: The University engages in extensive research in medicine, science, engineering, the arts, social sciences, and humanities. The University's research activities are aimed at the advancement of knowledge as well as training students in the research process. As integral parts of a unified, innovative, and accessible student-centered research University, Yale's labs and classrooms are turning out groundbreaking medical and scientific discoveries and the next generation of innovators in many areas of research excellence. The University's outstanding facilities devoted to research are comprised of myriad laboratories, centers, libraries, collections, and institutes that focus on research in geology, chemistry, biology, engineering and applied science, anthropology, paleontology, psychology, molecular and structural biology, nuclear structure, child development, social policy, biospheric studies and numerous biomedical sciences, to name but a few.

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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 (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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Governance

Voting Members
18
Independent Members
17
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
11
$9,743,642
Total Directors
19
$2,453,342
Key Employees
2
$5,632,372
Highest Compensated
5
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
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