Worcester Polytechnic Institute
501(c)(3) Donations tax-deductible
83% goes to programs $36 to raise $100 Strong reserves Growing revenue
Worcester Polytechnic Institute is a 501(c)(3) organization based in Worcester, Massachusetts, registered in 1934, with $490,769,899 in FY2023 revenue. CharityIndex grades it B+, and it directs about 83% of spending to programs.
100 Institute Rd, Worcester, MA, 01609 EIN 04-2121659 Since 1934
Revenue (FY2023)
$490.8M
▲ 6.1% vs prior year
Expenses (FY2023)
$505.3M
Net assets
$850.2M
Employees
4,526
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
BProgram efficiency40% of the rating83% to programs · $36 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 Worcester Polytechnic Institute: 83% to programs · $36 to raise $100 earns a B on this criterion. See the exact thresholds →
B+Financial health25% of the rating20 mo reserves · -3% 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 Worcester Polytechnic Institute: 20 mo reserves · -3% margin earns a B+ 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 Worcester Polytechnic Institute: 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 Worcester Polytechnic Institute: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Worcester polytechnic institute was founded in 1865 to create and convey (continued on schedule o) the latest science and engineering knowledge in ways that are most beneficial for society.
What they do
At the university, 238 faculty and post doc researchers, and 643 students are engaged in cutting-edge research across a broad range of disciplines. the university receives research funding from a variety of sources, primarily from governmental organizations such as the national science foundation, department of defense, national institute of health and other federal agencies. research at the university has a decidedly applied focus, with work focused on problems that are both interesting and important. the result is new knowledge, new innovations, and technological advances that attack some of the major challenges of our time.
Contact & location
- Address
- 100 Institute Rd, Worcester, MA, 01609
- City
- Worcester
- State
- Massachusetts
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $278.0M (FY2013) to $490.8M (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $498.0MNet assets $850.2M
Operating margin
-3.0%
Spent more than it raised in the latest fiscal year.
Total assets
$1.3B
Total liabilities
$498.0M
Net assets
$850.2M
Salaries & benefits
$205.8M
41% of expenses
Board members
24
23 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $490,769,899▲6.1% | $505,318,915▲4.6% | $850,186,016▲6.4% | $1,348,178,551▲2.2% | 990 |
| 2022 | $462,672,181▲4.0% | $483,023,410▲8.4% | $799,287,528▲4.4% | $1,319,474,615▲5.5% | 990 |
| 2021 | $444,871,646▲11.7% | $445,496,296▲11.8% | $765,619,489▼4.8% | $1,250,809,748▼4.5% | 990 |
| 2020 | $398,152,961▲3.6% | $398,514,619▲1.9% | $803,960,217▲23.3% | $1,309,104,658▲12.4% | 990 |
| 2019 | $384,496,935▲2.8% | $390,932,284▲3.2% | $651,821,144▼3.1% | $1,164,375,963▲13.6% | 990 |
| 2018 | $374,112,282▲13.8% | $378,667,852▲11.1% | $672,720,628▲1.8% | $1,024,893,080▲0.8% | 990 |
| 2017 | $328,612,535▲0.8% | $340,939,297▲3.5% | $661,125,946▲2.9% | $1,017,130,657▲3.1% | 990 |
| 2016 | $325,896,331▼8.6% | $329,405,198▲4.0% | $642,664,881▲7.4% | $986,537,071▲3.2% | 990 |
| 2015 | $356,507,124▲14.2% | $316,692,625▲3.0% | $598,156,618▲5.5% | $955,819,974▲9.5% | 990 |
| 2014 | $312,044,157▲12.3% | $307,534,991▲8.9% | $566,882,445▲0.7% | $872,836,583▲1.1% | 990 |
| 2013 | $277,952,974 | $282,285,181▲6.2% | $562,748,850▲10.3% | $863,535,367▲5.5% | 990 |
| 2012 | — | $265,900,247▲11.1% | $510,227,476▲8.2% | $818,579,977▲9.7% | 990 |
| 2011 | — | $239,390,621▲13.7% | $471,537,852▲17.8% | $745,923,526▲12.4% | 990 |
| 2009 | — | $210,611,120 | $400,214,667 | $663,586,114 | 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: Jinliu Wang — $807,682 (0.16% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Jinliu Wang | President | 40 | $807,682 |
| Michael Horan | Treasurer, Executive Vp & Cfo | 40 | $577,082 |
| David Bunis | Secretary & General Counsel | 40 | $574,842 |
| Philip Clay | Vp Student Affairs | 40 | $544,346 |
| Lauren Turner | Svp Talent & Inclusion, Cdo | 40 | $543,230 |
| Winston Soboyejo | Provost (thru 09/2023) | 40 | $540,190 |
| Donna Stock | Vp University Advancement | 40 | $461,463 |
| Jean King | Dean of Arts & Sciences | 40 | $381,003 |
| John Mcneil | Dean of Engineering | 40 | $367,324 |
| Lee Moradi | Mechanical & Materials Eng Professor | 40 | $354,271 |
| Arthur Heinricher | Dean Ug Stud/int Prov (as of 10/23) | 40 | $342,374 |
| Kyle Siegel | Avp, Chief of Staff & Dep. Secr. | 40 | $228,456 |
| Bruce Bursten | Chemistry Professor | 40 | $201,687 |
| Elizabeth Clapp | Assoc Treas. & Controller | 40 | $164,753 |
| Carleen Maitland | Trustee | 2 | — |
| David Lapre | Trustee | 2 | — |
| Elizabeth Phalen | Trustee | 2 | — |
| Elizabeth Schweinsberg | Trustee | 2 | — |
| Erica Mason | Trustee | 2 | — |
| George Oliver | Trustee | 2 | — |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Consigli Construction Company Inc | Construction | $4,266,846 |
| Daniel O'connell's Sons Inc | Construction | $3,771,982 |
| Shawmut Design & Construction | Construction | $3,400,944 |
| Stantec Architecture and Engineering PC | Prof. Services | $1,579,163 |
| Green Leaf Construction LLC | Construction | $1,288,884 |
Grants received · $29.9M total
253 grants to Worcester Polytechnic Institute totaling $29.9M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Jewish Communal Fund | In furtherance of grantee's tax-exempt purpose | 2024 | $2,005,000 |
| American Heart Association Inc | Research | 2024 | $430,999 |
| Ayco Charitable Foundation | Education | 2024 | $385,250 |
| Charles Stark Draper Laboratory Inc | Scholar support | 2024 | $292,506 |
| Fidelity Non-profit Management Foundation | Technology plan | 2024 | $275,000 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2024 | $190,000 |
| American Online Giving Foundation Inc | General support | 2024 | $168,265 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $140,000 |
| Silicon Valley Community Foundation | Education | 2024 | $75,002 |
| Hispanic Scholarship Fund | To provide scholarships for students | 2024 | $52,283 |
| American Endowment Foundation | Educational | 2024 | $38,750 |
| Foundation For the Carolinas | Charitable gift | 2024 | $31,325 |
| Community Foundation For Greater New Haven | Scholarship/wolfe, alexandra | 2024 | $16,000 |
| United Way Miami Inc | General support | 2024 | $10,000 |
| National Christian Charitable Foundation | Colleges and universities | 2024 | $7,500 |
Grants made · $8.1M in FY2023
53 grants totaling $8.1M in FY2023 — showing the 15 largest. All grants made by Worcester Polytechnic Institute →
| Recipient | Purpose | Amount |
|---|---|---|
| Assistments Foundation Inc | Research | $1,107,292 |
| City of Worcester | Public library support | $795,713 |
| Wested | Research | $613,927 |
| American Institute of Chemical Engineers | Research | $547,593 |
| Nc A&t State University | Research | $408,750 |
| University of Illinois | Research | $313,431 |
| University of Minnesota | Research | $309,254 |
| State of West Virginia | Research | $295,310 |
| Drexel University | Research | $291,080 |
| Gdb International | Research | $281,267 |
| Lesley University | Research | $241,053 |
| Institute of Gas Technology | Research | $224,641 |
| Univ of Massachusetts Medical School | Research | $189,919 |
| Trustees of Purdue University | Research | $175,452 |
| University of Maryland | Research | $163,552 |
Frequently asked questions
- Is Worcester Polytechnic Institute a legitimate nonprofit?
- Yes. Worcester Polytechnic Institute is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 04-2121659, based in Worcester, Massachusetts. Donations are tax-deductible.
- What is Worcester Polytechnic Institute's EIN?
- Worcester Polytechnic Institute's Employer Identification Number (EIN) is 04-2121659.
- How much revenue does Worcester Polytechnic Institute report?
- Worcester Polytechnic Institute reported $490,769,899 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Worcester Polytechnic Institute's spending goes to programs?
- Worcester Polytechnic Institute spends about 83% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Worcester Polytechnic Institute have?
- CharityIndex grades Worcester Polytechnic Institute B+, based on program efficiency and fundraising cost.
- How much does Worcester Polytechnic Institute's highest-paid employee make?
- The highest reported compensation on Worcester Polytechnic Institute's latest Form 990 is $807,682, paid to Jinliu Wang (President).
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Explore more
Data for Worcester Polytechnic Institute (EIN 04-2121659) 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.