Carnegie Mellon University

EIN: 250969449 501(c)(3)

PITTSBURGH, PA

Total Revenue
$2,498,102,199
Total Expenses
$1,896,700,767
Total Assets
$7,636,209,610
Net Assets
$6,316,256,007
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Financial Trends

Organization Details

Formation Year
1900
Legal Domicile
PA
Principal Officer
FARNAM JAHANIAN
Phone
4122681358
Tax Period
2024-07-01 to 2025-06-30

Carnegie Mellon University, founded in 1900, is a large national nonprofit that reported $2.5B in total revenue in fiscal year 2024. Revenue surged 25% from the prior year, signaling strong growth momentum. The organization ran a surplus of $601.4M, a strong 24% operating margin.

Mission

TO CREATE A TRANSFORMATIVE EDUCATIONAL EXPERIENCE FOR STUDENTS FOCUSED ON DEEP DISCIPLINARY KNOWLEDGE; PROBLEM SOLVING; LEADERSHIP, COMMUNICATION AND INTERPERSONAL SKILLS; AND PERSONAL HEALTH AND WELL-BEING. TO CULTIVATE A TRANSFORMATIVE UNIVERSITY COMMUNITY COMMITTED TO (A) ATTRACTING AND RETAINING DIVERSE, WORLD-CLASS TALENT; (B) CREATING A COLLABORATIVE ENVIRONMENT OPEN TO THE FREE EXCHANGE OF IDEAS, WHERE RESEARCH, CREATIVITY, INNOVATION, AND ENTREPRENEURSHIP CAN FLOURISH; AND (C) ENSURING INDIVIDUALS CAN ACHIEVE THEIR FULL POTENTIAL. TO IMPACT SOCIETY IN A TRANSFORMATIVE WAY - REGIONALLY, NATIONALLY, AND GLOBALLY - BY ENGAGING WITH PARTNERS OUTSIDE THE TRADITIONAL BORDERS OF THE UNIVERSITY CAMPUS.

Program Service Accomplishments

Program 1
Expenses: $1,050,952,848 Revenue: $1,018,569,965

INSTRUCTION: CARNEGIE MELLON IS A HYBRID OF A TECHNICAL INSTITUTE, FINE-ARTS CONSERVATORY AND TRADITIONAL RESEARCH UNIVERSITY, HAVING EVOLVED IN RESPONSE TO EMERGING SOCIAL NEEDS AND INTELLECTUAL...

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INSTRUCTION: CARNEGIE MELLON IS A HYBRID OF A TECHNICAL INSTITUTE, FINE-ARTS CONSERVATORY AND TRADITIONAL RESEARCH UNIVERSITY, HAVING EVOLVED IN RESPONSE TO EMERGING SOCIAL NEEDS AND INTELLECTUAL DEVELOPMENT OF THE PAST CENTURY. UNITING TECHNOLOGY AND ARTS, FUSING THE PRACTICAL WITH THE IMAGINATIVE, MAINTAINING ITS EDUCATIONAL EMPHASIS ON DEVELOPING SKILLS TO SOLVE PROBLEMS. INCLUDES 7 COLLEGES AND SCHOOLS OFFERING DEGREE PROGRAMS AND MORE THAN 100 MAJORS AND MINORS TO APPROXIMATELY 16,700 UNDERGRADUATES, GRADUATES AND DOCTORAL STUDENTS. INSTRUCTION INCLUDES ACADEMIC SUPPORT AND STUDENT SERVICES. CARNEGIE MELLON HAS ITS MAIN CAMPUS IN PITTSBURGH, SATELLITE CAMPUSES IN SILICON VALLEY AND DOHA, QATAR, AND DEGREE-GRANTING PROGRAMS IN COORDINATION WITH GLOBAL PROGRAMS INCLUDING PORTUGAL, RWANDA, AND THAILAND. NATIONALLY AND GLOBALLY, CARNEGIE MELLON HAS BECOME A MAJOR VOICE OF CONNECTIVITY IN TECHNOLOGY, EXPANSION OF EDUCATIONAL OPPORTUNITY AND ECONOMIC DEVELOPMENT.

Program 2
Expenses: $458,341,813 Revenue: $0

RESEARCH: CARNEGIE MELLON HOLDS A PROUD VISION OF ITSELF AS A DISTINCTIVE AND DIFFERENT KIND OF RESEARCH UNIVERSITY WHERE NATIONALLY RECOGNIZED PROGRAMS FROM ACROSS THE LEADING DISCIPLINES, FROM...

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RESEARCH: CARNEGIE MELLON HOLDS A PROUD VISION OF ITSELF AS A DISTINCTIVE AND DIFFERENT KIND OF RESEARCH UNIVERSITY WHERE NATIONALLY RECOGNIZED PROGRAMS FROM ACROSS THE LEADING DISCIPLINES, FROM COMPUTING AND ENGINEERING TO FINE ARTS, INTERSECT. IT IS A DECENTRALIZED COMMUNITY OF SCIENTISTS AND INTELLECTUALS, ARTISTS AND POLICYMAKERS, BUSINESS EXPERTS AND POETS. THE DIVERSE AND DECENTRALIZED COMMUNITY THAT CHARACTERIZES CARNEGIE MELLON CULTURE RESTS ON A SET OF CORE UNDERPINNINGS AND A STRONG COMMITMENT TO REAL-WORLD PROBLEM SOLVING, INTERDISCIPLINARY COLLABORATION AND HARD WORK, COMBINED WITH JOIE DE VIVRE. EACH OF THESE REQUIRES CONNECTIONS AMONG ENGINEERING, SCIENCE, POLICY AND MANAGEMENT, AND THE ARTS. BASIC RESEARCH IS PERFORMED IN ALL 7 COLLEGES AND SCHOOLS AND THE SOFTWARE ENGINEERING INSTITUTE. CARNEGIE MELLON IS ALSO THE HOME OF NUMEROUS RESEARCH INSTITUTES AND CENTERS FOCUSING ON SOME OF THE WORLD'S GREATEST CHALLENGES. CARNEGIE MELLON'S RESEARCH-INTENSIVE ENVIRONMENT PROVIDES A RICH SETTING FOR THE UNIVERSITY'S EDUCATIONAL OFFERINGS AND ASPIRATIONS. THE SEARCH FOR NEW KNOWLEDGE AND A SPIRIT OF ONGOING CRITICAL INQUIRY ARE THE IDEALS THAT PERMEATE ITS APPROACH TO TEACHING AND ITS EXPECTATIONS FOR WHAT STUDENTS WILL ACHIEVE.

Program 3
Expenses: $162,078,624 Revenue: $96,513,219

AUXILIARY SERVICES: SERVICES TO SUPPORT THE INSTRUCTION AND RESEARCH FUNCTIONS OF THE UNIVERSITY. THESE SERVICES INCLUDE BUT ARE NOT LIMITED TO HOUSING, DINING SERVICES, PARKING, BOOKSTORE, PRINTING...

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AUXILIARY SERVICES: SERVICES TO SUPPORT THE INSTRUCTION AND RESEARCH FUNCTIONS OF THE UNIVERSITY. THESE SERVICES INCLUDE BUT ARE NOT LIMITED TO HOUSING, DINING SERVICES, PARKING, BOOKSTORE, PRINTING, TELECOMMUNICATIONS, AND OTHER SERVICES RELATED TO THE DELIVERY OF EDUCATION AND RESEARCH.

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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 (2024)

Revenue Breakdown

Contributions & Grants $690,456,548
Program Service Revenue $1,125,956,853
Investment Income $675,231,553
Other Revenue $6,457,245
TOTAL REVENUE $2,498,102,199

Expense Breakdown

Grants Paid $322,729,972
Salaries & Benefits $1,087,194,901
Fundraising Expenses $33,908,250
Program Expenses $1,681,988,969
Other Expenses $486,289,497
TOTAL EXPENSES $1,896,700,767

Year-over-Year Comparison

2024 2023 Change
Revenue $2,498,102,199 $2,003,071,984 +0.2%
Expenses $1,896,700,767 $1,776,981,445 +0.1%
Net Income $601,401,432 $226,090,539 +1.7%
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
41
Independent Members
36
Employees
16745
Volunteers
36

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
17
$11,968,114
Total Directors
42
$7,236,233
Key Employees
2
$1,354,520
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
EDWARD J GREFENSTETTE TRUSTEE(PRES/CEO,DIETRICH FDN) 1.0
Director
$0 $1,496,211 $3,594,546
FARNAM JAHANIAN PRESIDENT/EX-OFFICIO TRUSTEE 50.0
Officer Director
$2,749,101 $381,175 $3,155,276
CHARLES A KENNEDY CHIEF INVESTMENT OFFICER 50.0
Officer
$1,517,452 $725,801 $2,243,253
MICHAEL TRICK DEAN, QATAR CAMPUS 50.0
Highest
$1,077,086 $100,446 $1,177,532
JAMES H GARRETT PROVOST & CAO 50.0
Officer
$904,204 $56,881 $961,085
THOMAS GOFF MAN. DIR,OPERATIONS-INV OFFICE 50.0
Highest
$618,489 $296,277 $914,766
MARY JO DIVELY VP/GEN. COUN & SEC. OF THE COR 50.0
Officer
$840,612 $57,305 $897,917
ISABELLE BAJEUX BESNAINOU PROF.& DEAN, TEPPER SCH.OF BUS 50.0
Highest
$730,550 $64,972 $795,522
KRZYSZTOF MATYJASZEWSKI JC WARNER UNIV. PROF. OF NAT. 50.0
Highest
$697,562 $53,173 $750,735
THERESA MAYER V.P. FOR RESEARCH 50.0
Officer
$557,760 $180,819 $738,579
PAUL D NIELSEN DIRECTOR & CEO, SEI 50.0
Highest
$697,501 $38,198 $735,699
MARTIAL HEBERT PROF. & DEAN, SCH OF COMP SCIE 50.0
Key Emp
$640,602 $66,900 $707,502
WILLIAM SANDERS PROF. & DEAN, COLLEGE OF ENGIN 50.0
Key Emp
$605,612 $41,406 $647,018
DARYL WEINERT VP FOR OPERATIONS 50.0
Officer
$551,953 $56,636 $608,589
SCOTT MORY FORMER OFFICER 50.0
$528,809 $56,525 $585,334
ANGELA BLANTON VP OF FINANCE & CFO 50.0
Officer
$513,229 $70,530 $583,759
STAN WADDELL VP FOR INFO TECH & CHIEF INFO 50.0
Officer
$472,354 $92,222 $564,576
GINA CASALEGNO VP FOR STUD AFF & DEAN OF STUD 50.0
Officer
$455,159 $92,481 $547,640
PAM EAGER INT VP UNIV ADV(EXITED 2/25) 50.0
Officer
$463,522 $61,463 $524,985
JONATHAN CAGAN FORMER KE/PROFESSOR 50.0
$406,046 $74,492 $480,538
LOWELL TAYLOR EX-OFFICIO TRUSTEE/PROFESSOR 50.0
Director
$369,631 $56,980 $426,611
TOM MITCHELL FORMER KE/PROFESSOR 50.0
$363,776 $47,727 $411,503
CARRIE NELSON ASSISTANT TREASURER 50.0
Officer
$314,659 $48,397 $363,056
JOHN DOLAN TREASURER 50.0
Officer
$296,271 $51,849 $348,120
TYSEN KENDIG VP UNI COMM & MARK(AS OF 9/24) 50.0
Officer
$192,591 $44,595 $237,186
KATE LIPPERT ASSISTANT SEC. OF THE CORP. 50.0
Officer
$152,033 $42,060 $194,093
J MICHAEL MCQUADE VOTING TRUSTEE/COMP SERVICES 0.8
Director
$34,800 $0 $34,800
JEANNE CUNICELLI VOTING TRUSTEE 1.15
Director
$0 $0 $25,000
DAVID COULTER CHAIR/VOTING TRUSTEE 7.5
Officer Director
$0 $0 $0
ANNE M MOLLOY VICE CHAIR/VOTING TRUSTEE 2.4
Officer Director
$0 $0 $0
JOEL P ADAMS VOTING TRUSTEE 1.25
Director
$0 $0 $0
LANE M BESS VOTING TRUSTEE 0.5
Director
$0 $0 $0
RONALD BIANCHINI JR VOTING TRUSTEE 1.0
Director
$0 $0 $0
KEITH BLOCK VOTING TRUSTEE 1.5
Director
$0 $0 $0
DARRYL BRITT VOTING TRUSTEE (EXITED 8/24) 1.0
Director
$0 $0 $0
FRANK BRUNCKHORST VOTING TRUSTEE 5.0
Director
$0 $0 $0
GLORIA CHEN VOTING TRUSTEE 1.0
Director
$0 $0 $0
NATHALIE COWAN VOTING TRUSTEE 1.0
Director
$0 $0 $0
RUSSELL CROCKETT VOTING TRUSTEE 5.0
Director
$0 $0 $0
TED DECKER VOTING TRUSTEE 1.0
Director
$0 $0 $0
SHRINIVAS V DEMPO VOTING TRUSTEE 0.13
Director
$0 $0 $0
FRANCISCO B D'SOUZA VOTING TRUSTEE 5.0
Director
$0 $0 $0
HOWARD L ELLIN VOTING TRUSTEE 5.0
Director
$0 $0 $0
CHARLES EVANS VOTING TRUSTEE 1.5
Director
$0 $0 $0
EDWARD H FRANK VOTING TRUSTEE 2.0
Director
$0 $0 $0
YOSHIAKI FUJIMORI VOTING TRUSTEE 0.5
Director
$0 $0 $0
MAYOR ED GAINEY EX-OFFICIO TRUSTEE 0.08
Director
$0 $0 $0
ERIC GILER VOTING TRUSTEE 2.5
Director
$0 $0 $0
AJEI GOPAL VOTING TRUSTEE 0.67
Director
$0 $0 $0
THOMAS HEALY VOTING TRUSTEE 0.0
Director
$0 $0 $0
LARRY E JENNINGS JR VOTING TRUSTEE 2.0
Director
$0 $0 $0
KATHERINE KOHATSU EX-OFFICIO TRUSTEE 0.96
Director
$0 $0 $0
DANIEL LAVELLE EX-OFFICIO TRUSTEE 0.0
Director
$0 $0 $0
JOANNA LOVERING EX-OFFICIO TRUSTEE 0.5
Director
$0 $0 $0
BRIAN OLSAVSKY VOTING TRUSTEE 1.0
Director
$0 $0 $0
SHALINI RAY VOTING TRUSTEE 0.97
Director
$0 $0 $0
KRISTIEANNE REED VOTING TRUSTEE 2.0
Director
$0 $0 $0
SAM REIMAN VOTING TRUSTEE 1.0
Director
$0 $0 $0
JEWELL RHODES VOTING TRUSTEE 0.75
Director
$0 $0 $0
MANOJ P SINGH VOTING TRUSTEE 2.0
Director
$0 $0 $0
LUKE SKURMAN VOTING TRUSTEE 3.0
Director
$0 $0 $0
LIP-BU TAN VOTING TRUSTEE 1.0
Director
$0 $0 $0
DAVID A TEPPER VOTING TRUSTEE 3.0
Director
$0 $0 $0
THOMAS TULL VOTING TRUSTEE 0.5
Director
$0 $0 $0
TAMARA TUNIE VOTING TRUSTEE 1.5
Director
$0 $0 $0
DAVID BENNETT VP FOR UNIV ADV (AS OF 2/25) 50.0
Officer
$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 $2,498,102,199 $1,896,700,767 $7,636,209,610 $601,401,432
2024 No data No data No data No data
2023 $1,881,828,034 $1,640,976,103 $6,841,480,872 $240,851,931
2022 $1,976,389,642 $1,513,112,668 $6,497,771,735 $463,276,974
2021 $1,962,040,329 $1,383,731,619 $6,284,436,792 $578,308,710
2020 $1,850,131,561 $1,438,488,964 $4,726,328,922 $411,642,597
2019 $1,643,363,312 $1,393,872,568 $4,402,305,882 $249,490,744
2018 $1,526,822,729 $1,335,161,953 $4,067,622,368 $191,660,776
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