Yale University
86% goes to programs $6 to raise $100 Strong reserves
Yale University is a 501(c)(3) organization based in New Haven, Connecticut, registered in 1992, with $6,841,256,079 in FY2023 revenue. CharityIndex grades it A, and it directs about 86% of spending to programs.
Po Box 208356, New Haven, CT, 06520 EIN 06-0646973 Since 1992
Revenue (FY2023)
$6.8B
▲ 8.3% vs prior year
Education median: $200K
Expenses (FY2023)
$6.2B
Net assets
$45.2B
Employees
34,705
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
AProgram efficiency40% of the rating86% 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 Yale University: 86% to programs · $6 to raise $100 earns a A on this criterion. See the exact thresholds →
B+Financial health25% of the rating88 mo reserves · +9% 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 Yale University: 88 mo reserves · +9% 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 Yale University: 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 Yale University: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
To improve the world through research, scholarship, education, preservation, and practice.
What they do
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.
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.
Other program services include academic support, public service, and other institutional support.
Contact & location
- Address
- Po Box 208356, New Haven, CT, 06520
- City
- New Haven
- State
- Connecticut
- Category
- Education
- Subcategory
- Colleges & Universities
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $4.5B (FY2013) to $6.8B (FY2023) across 11 reported years.
Financial snapshot
Financial health & position (FY2023)
Liabilities $10.0BNet assets $45.2B
Operating margin
9.4%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$55.2B
Total liabilities
$10.0B
Net assets
$45.2B
Salaries & benefits
$3.3B
54% of expenses
Board members
18
17 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2023 | $6,841,256,079▲8.3% | $6,197,071,259▲10.4% | $45,197,216,474▲3.0% | $55,210,972,740▲1.7% | 990 |
| 2022 | $6,315,023,788▼14.8% | $5,612,701,248▲9.8% | $43,899,580,411▲0.1% | $54,308,947,172▼0.5% | 990 |
| 2021 | $7,410,414,729▼2.7% | $5,113,408,089▲9.8% | $43,848,329,997▲1.0% | $54,599,818,948▼2.7% | 990 |
| 2020 | $7,616,500,018▲36.1% | $4,656,059,084▲1.6% | $43,431,083,495▲40.1% | $56,104,600,801▲26.9% | 990 |
| 2019 | $5,595,177,145▲0.8% | $4,581,336,832▲6.2% | $30,994,700,008▲0.3% | $44,198,683,391▲9.0% | 990 |
| 2018 | $5,551,534,852▲9.1% | $4,314,687,059▲4.7% | $30,914,630,289 | $40,533,606,066▲3.8% | 990 |
| 2017 | $5,089,937,007▲8.8% | $4,121,360,611▲5.6% | $30,925,375,109▲9.3% | $39,065,768,707▲6.7% | 990 |
| 2016 | $4,678,330,813▼2.7% | $3,903,898,620▲6.0% | $28,293,249,847▲9.7% | $36,620,475,385▲7.4% | 990 |
| 2015 | $4,807,997,730▼12.0% | $3,681,608,494▲4.8% | $25,790,963,158▼3.3% | $34,103,002,387▼0.1% | 990 |
| 2014 | $5,461,672,525▲22.0% | $3,513,798,862▲2.6% | $26,682,368,362▲6.2% | $34,133,509,535▲6.6% | 990 |
| 2013 | $4,477,633,568 | $3,423,617,239▲3.2% | $25,120,652,240▲14.5% | $32,031,841,267▲10.8% | 990 |
| 2012 | — | $3,318,422,271▲6.7% | $21,937,281,633▲9.3% | $28,911,175,542▲2.1% | 990 |
| 2011 | — | $3,110,478,699▲4.8% | $20,065,937,771▼2.6% | $28,321,347,357▲1.9% | 990 |
| 2010 | — | $2,966,657,595▲4.2% | $20,603,105,713▲19.4% | $27,801,734,697▲12.2% | 990 |
| 2009 | — | $2,848,408,413 | $17,260,240,441 | $24,776,355,904 | 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: Peter Salovey — $2,335,529 (0.04% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Peter Salovey | Trustee & President | 50 | $2,335,529 |
| Matthew S T Mendelsohn | Chief Investment Officer | 50 | $2,320,131 |
| Timothy R Sullivan | Sr Director of Private Equity | 50 | $2,057,602 |
| Alex Hetherington | Managing Director, Investments | 50 | $1,772,887 |
| John Ricotta | Managing Director, Investments | 50 | $1,703,069 |
| Murat Gunel | Chair, Neurosurgery | 50 | $1,683,353 |
| Amelia Chivetta | Managing Director, Investments | 50 | $1,671,148 |
| Alexander C Banker | Former Director of Investments | 50 | $1,607,501 |
| Nancy J Brown | Dean, School of Medicine | 50 | $1,130,957 |
| Scott A Strobel | Provost | 50 | $887,887 |
| Alexander E Dreier | Sr Vp For Institutional Affairs | 50 | $881,218 |
| Jack F Callahan Jr | Sr Vp For Operations | 50 | $828,950 |
| Joan E O'neill | Vp For Alumni Affairs & Development | 50 | $817,363 |
| Jack Michael Bellamy | Vp For Facilities, Campus Development & Sustainability | 50 | $663,536 |
| Stephen C Murphy | Vp For Finance & Cfo | 50 | $596,624 |
| Dean J Takahashi | Former Sr Director, Investments | 50 | $540,712 |
| Pericles Lewis | Former Vp For Global Strategy | 50 | $539,793 |
| Kimberly M Goff-crews | Secretary & Vp For University Life | 50 | $530,671 |
| Benjamin Polak | Former Provost | 50 | $496,033 |
| John Barden | Vp For Technology and Campus Services | 50 | $472,613 |
Top vendors & contractors (FY2023)
| Contractor | Services | Paid |
|---|---|---|
| Hhlr Advisors Ltd | Investment Management Services | $203,292,127 |
| The Whiting-turner Contracting Company | Construction & Related Services | $111,405,435 |
| Gilbane Building Company | Construction & Related Services | $29,945,820 |
| Dimeo Construction Company | Construction & Related Services | $28,599,341 |
| Turner Construction Company | Construction & Related Services | $25,723,586 |
Grants received · $952.8M total
1,823 grants to Yale University totaling $952.8M, reported by foundations on their Schedule I filings — showing the 15 most recent.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Michael J Fox Foundation For Parkinsons Research | Parkinson's research | 2024 | $18,387,153 |
| The New York Community Trust | For general support. | 2024 | $12,063,720 |
| Greater Horizons | Education | 2024 | $5,006,000 |
| Pharmaceutical Research and Manufacturers of America | General contribution | 2024 | $5,000,000 |
| Silicon Valley Community Foundation | Education | 2024 | $4,666,562 |
| American Cancer Society Inc | Extramural research | 2024 | $4,516,757 |
| Gs Donor Advised Philanthropy Fund For Wealth Management Inc | Education | 2024 | $4,075,237 |
| Morgan Stanley Global Impact Funding Trust Inc | Unrestricted general support | 2024 | $3,662,500 |
| Fidelity Non-profit Management Foundation | Endowment | 2024 | $3,000,000 |
| American Heart Association Inc | Research | 2024 | $2,041,135 |
| American Endowment Foundation | Educational | 2024 | $2,001,129 |
| Foundation For the Carolinas | Charitable gift | 2024 | $1,830,100 |
| Greater Houston Community Foundation | Educational | 2024 | $1,820,000 |
| The V Foundation | Cancer research | 2024 | $1,800,000 |
| The Clear Fund | Operating support | 2024 | $1,299,147 |
Grants made · $137.2M in FY2023
344 grants totaling $137.2M in FY2023 — showing the 15 largest. All grants made by Yale University →
| Recipient | Purpose | Amount |
|---|---|---|
| Regents of the University of California At San Diego | Subaward - sponsored research | $6,510,977 |
| New Haven Promise Inc | Charitable contribution and community support | $4,376,411 |
| Mass General Brigham Incorporated | Subaward - sponsored research | $3,736,877 |
| Trustees of Columbia University | Subaward - sponsored research | $3,290,737 |
| Trustees of the University of Pennsylvania | Subaward - sponsored research | $3,221,817 |
| Vanderbilt University Medical Center | Subaward - sponsored research | $2,753,308 |
| Duke University | Subaward - sponsored research | $2,751,253 |
| New York University | Subaward - sponsored research | $2,387,168 |
| Childrens Hospital Corporation | Subaward - sponsored research | $2,386,079 |
| The University of Texas Southwestern Medical Center | Subaward - sponsored research | $2,333,322 |
| University of Massachusetts | Subaward - sponsored research | $2,307,590 |
| Mayo Clinic | Subaward - sponsored research | $2,248,787 |
| University of Cincinnati | Subaward - sponsored research | $2,030,917 |
| Mass General Brigham Incorporated | Subaward - sponsored research | $2,018,902 |
| Carbon Containment Lab | Charitable contribution and community support | $2,000,000 |
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Frequently asked questions
- Is Yale University a legitimate nonprofit?
- Yes. Yale University is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 06-0646973, based in New Haven, Connecticut. Donations are tax-deductible.
- What is Yale University's EIN?
- Yale University's Employer Identification Number (EIN) is 06-0646973.
- How much revenue does Yale University report?
- Yale University reported $6,841,256,079 in total revenue on its fiscal year 2023 IRS Form 990 filing.
- How much of Yale University's spending goes to programs?
- Yale University spends about 86% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Yale University have?
- CharityIndex grades Yale University A, based on program efficiency and fundraising cost.
- How much does Yale University's highest-paid employee make?
- The highest reported compensation on Yale University's latest Form 990 is $2,335,529, paid to Peter Salovey (Trustee & President).
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Data for Yale University (EIN 06-0646973) 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.