Rochester Institute of Technology
93% goes to programs $6 to raise $100 Strong reserves Growing revenue
Rochester Institute of Technology is a 501(c)(3) organization based in Rochester, New York, registered in 1943, with $1,155,931,634 in FY2023 revenue. CharityIndex grades it A+, and it directs about 93% of spending to programs.
46 Lomb Memorial Dr, Rochester, NY, 14623 EIN 16-0743140 Since 1943
Revenue (FY2023)
$1.2B
▲ 10.9% vs prior year
Education median: $200K
Expenses (FY2023)
$1.1B
Net assets
$2.1B
Employees
11,980
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating93% to programs · $6 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Rochester Institute of Technology: 93% to programs · $6 to raise $100 earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating23 mo reserves · +6% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Rochester Institute of Technology: 23 mo reserves · +6% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Rochester Institute of Technology: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Rochester Institute of Technology: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Rochester institute of technology (rit) shapes the future and improves the world through creativity and innovation. as an engaged, intellectually curious, and socially conscious community, rit leverages the power of technology, the arts, and design for the greater good.
What they do
Student and auxiliary services - student services provide students with additional enrichment and educational opportunities. such services include student health, athletics, and other recreational activities. auxiliaries provide essential services to students in support of rit's educational mission. these services include housing operations and dining services. sales and services of auxiliary enterprises generated total revenue of $104.8 million, an increase of approximately $9 million from the prior year. surpluses from auxiliary services support the operating budget of the university.
Research and public support - rit engages in public service activities that benefit the general community in which it resides, including training, postsecondary education for the deaf and hard of hearing, and k-12 programs. rit also conducts research to advance the body of knowledge, enhance student and faculty learning and build its reputation in the scientific and technical communities in support of, or in concert with, the university's exempt mission, while providing positive returns to our sponsoring partners. as articulated in rit's strategic plan, the university continues to place emphasis on its revenue growth in the research portfolio.
Contact & location
- Address
- 46 Lomb Memorial Dr, Rochester, NY, 14623
- City
- Rochester
- State
- New York
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $683.0M (FY2013) to $1.2B (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $695.1MNet assets $2.1B
Operating margin
5.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$2.8B
Total liabilities
$695.1M
Net assets
$2.1B
Salaries & benefits
$460.3M
42% of expenses
Board members
44
40 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $1,155,931,634▲10.9% | $1,091,883,625▲9.5% | $2,131,542,126▲7.8% | $2,826,597,872▲5.0% | 990 |
| 2022 | $1,042,122,687▼2.7% | $997,198,958▲8.1% | $1,976,873,090▲3.4% | $2,692,370,868▲6.6% | 990 |
| 2021 | $1,071,324,345▲17.8% | $922,322,587▲10.5% | $1,912,245,355▲0.2% | $2,526,196,996▼1.0% | 990 |
| 2020 | $909,573,181▲7.1% | $834,790,858▲2.6% | $1,909,016,931▲25.4% | $2,550,492,860▲17.8% | 990 |
| 2019 | $849,584,640▲0.4% | $813,924,493▲2.1% | $1,521,892,241▲1.5% | $2,165,976,339▲7.3% | 990 |
| 2018 | $846,261,436 | $797,214,115▲17.2% | $1,499,126,915▲4.5% | $2,018,540,095▲3.1% | 990 |
| 2017 | $846,043,530▲16.0% | $679,958,794▼8.9% | $1,434,276,996▲16.5% | $1,958,756,365▲7.3% | 990 |
| 2016 | $729,320,428▼1.9% | $746,327,827▲4.0% | $1,231,018,386▲6.5% | $1,825,772,670▲6.3% | 990 |
| 2015 | $743,214,060▲5.9% | $717,452,997▲8.3% | $1,156,297,085▼0.9% | $1,717,639,043▼0.5% | 990 |
| 2014 | $701,662,801▲2.7% | $662,338,959▲1.0% | $1,166,870,457▲1.7% | $1,726,065,715▲0.9% | 990 |
| 2013 | $682,973,729 | $655,505,997▲2.9% | $1,147,420,909▲8.3% | $1,711,097,571▲6.7% | 990 |
| 2012 | — | $636,901,120▲4.4% | $1,059,868,841▲5.4% | $1,603,679,040▲7.6% | 990 |
| 2011 | — | $609,883,924▲6.1% | $1,005,486,482▲1.8% | $1,490,565,991▲1.9% | 990 |
| 2010 | — | $574,927,963▲0.1% | $987,320,185▲12.2% | $1,462,494,283▲9.2% | 990 |
| 2009 | — | $574,215,948 | $880,044,532 | $1,339,883,724 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2023)
Highest-paid: David C Munson — $1,459,273 (0.13% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| David C Munson | President | 40 | $1,459,273 |
| James H Watters | Svp Finance and Administration | 40 | $661,287 |
| Nabil Z Nasr | Assoc Provost Dir Golisano Inst of Sustainability | 40 | $651,398 |
| Jacqueline Mozrall | Dean Saunders College of Business | 40 | $434,909 |
| Phillip D Castleberry | Vp University Advancement | 40 | $426,230 |
| Ersin Uzun | Katherine Johnson Endowed Exec. Dir. Global Cybersecurity Institute | 40 | $406,316 |
| Gerard Buckley | President Ntid & Vp and Dean Rit | 40 | $384,372 |
| Ryne Raffaelle | Vp Research | 40 | $376,412 |
| Sandra S Johnson | Svp Student Affairs | 40 | $375,576 |
| Robert Colon | Vp & General Counsel | 40 | $368,308 |
| Doreen Edwards | Dean College of Engineering | 40 | $355,673 |
| Donald F Figer | Prof and Dir Center For Detectors | 40 | $330,453 |
| John K Trierweiler | Vp Chief Marketing Officer | 40 | $325,937 |
| Ellen M Granberg | Provost and Svp Academic Affairs | 40 | $285,207 |
| Vanessa J Herman | Vp For Govt & Community Relations | 40 | $278,248 |
| Christine M Licata | Vice Provost For Academic Affairs | 40 | $271,530 |
| Keith Jenkins | Vp & Assoc Provost For Diversity & Inclusion | 40 | $268,371 |
| Lisa A Chase | Vp & Secretary of the University | 40 | $259,137 |
| Prabu David | Provost & Sr Vp For Academic Affairs | 40 | $227,004 |
| Colleen F Peterson | Associate Vp Enrollment Management | 40 | $222,142 |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Lechase Construction Services LLC | Construction Services | $22,448,348 |
| Christa Construction LLC | Construction Services | $9,149,387 |
| Dga Builders LLC | Construction Services | $3,614,975 |
| Hbt Architects LLP | Architect Services | $1,115,704 |
| Mccarthy Tents & Events | Rental Services | $723,006 |
Grants received · $84.2M total
238 grants to Rochester Institute of Technology totaling $84.2M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| United Way of Greater Rochester and the Finger Lakes Inc | Agency allocation | 2024 | $302,950 |
| American Online Giving Foundation Inc | General support | 2024 | $285,000 |
| American Endowment Foundation | Educational | 2024 | $228,500 |
| Rochester Area Community Foundation | Higher education | 2024 | $134,165 |
| Hispanic Scholarship Fund | To provide scholarships for students | 2024 | $54,054 |
| American Physical Society | Sub awards | 2024 | $51,677 |
| Baylor University | Subcontract-research | 2024 | $47,756 |
| Community Foundation of New Jersey | Scholarship grant | 2024 | $31,000 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $25,000 |
| Rochester General Hospital | Sponsorship | 2024 | $25,000 |
| Rochester General Hospital | Sponsorship | 2024 | $25,000 |
| Raymond James Charitable Endowment Fund | General support | 2024 | $22,000 |
| Rochester Area Community Foundation | Higher education | 2024 | $20,000 |
| Greater Horizons | Education | 2024 | $20,000 |
| Charities Aid Foundation America | Charitable donation | 2024 | $19,432 |
Grants made · $414K in FY2023
26 grants totaling $414K in FY2023 — showing the 15 largest. All grants made by Rochester Institute of Technology →
| Recipient | Purpose | Amount |
|---|---|---|
| Alabama Space Science Exhibit Commission | Sponsorship | $56,913 |
| Henrietta Fire District | General support | $45,000 |
| California Educators of the Deaf | Event sponsorship | $30,000 |
| Greater Rochester Enterprise Inc | General support | $27,500 |
| Idaho Educational Services For the Deaf and the Blind Foundation Inc | General support | $27,010 |
| Rochester Fringe Festival Inc | Sponsorship | $25,000 |
| Aacsb International the Association To Advance Collegiate Schools of | Sponsorship/event sponsorship | $19,900 |
| State of Oklahoma | Sponsorship | $16,861 |
| Orange County Superintendent of Schools | Sponsorship | $14,091 |
| Distributive Education Clubs of America | Sponsorship | $12,100 |
| National Association of the Deaf | Event sponsorship | $12,050 |
| Alexander Graham Bell Association For the Deaf and Hard of Hearing | Event sponsorship | $11,500 |
| Washington Center For Deaf and Hard of Hearing Youth | Sponsorship | $11,341 |
| Signlight Inc | Event sponsorship | $10,000 |
| Conference of Educational Administrators of Schools and Prog | Event sponsorship | $10,000 |
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Frequently asked questions
- Is Rochester Institute of Technology a legitimate nonprofit?
- Yes. Rochester Institute of Technology is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 16-0743140, based in Rochester, New York. Donations are tax-deductible.
- What is Rochester Institute of Technology's EIN?
- Rochester Institute of Technology's Employer Identification Number (EIN) is 16-0743140.
- How much revenue does Rochester Institute of Technology report?
- Rochester Institute of Technology reported $1,155,931,634 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Rochester Institute of Technology's spending goes to programs?
- Rochester Institute of Technology spends about 93% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Rochester Institute of Technology have?
- CharityIndex grades Rochester Institute of Technology A+, based on program efficiency and fundraising cost.
- How much does Rochester Institute of Technology's highest-paid employee make?
- The highest reported compensation on Rochester Institute of Technology's latest Form 990 is $1,459,273, paid to David C Munson (President).
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Explore more
Data for Rochester Institute of Technology (EIN 16-0743140) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.