President and Fellows of Harvard College

Analysis

President and Fellows of Harvard College is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in December 1967, 59 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, President and Fellows of Harvard College reported income of $6.05bn and spending of $6.25bn, spending 103% of its income. Across the 3 years on record, from June 2019 to June 2023, income fell from $7.85bn to $6.05bn (-23%), an average of -12% a year. The sharpest change came in the year to June 2023, when income dropped by 32%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, President and Fellows of Harvard College sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include University of Miami ($5.92bn), Emory University ($6.31bn) and Cornell University ($5.88bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 31% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $14.7m (0.2% of expenses). Other salaries and wages came to $2.28bn. It paid $910k in professional fundraising fees. At year end it held assets of $70.65bn against liabilities of $11.16bn, net assets of $59.49bn. It reported 37,629 employees.