Touro University

Analysis

Touro University is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in August 1970, 56 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, Touro University reported income of $367.3m and spending of $364.9m, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $308.7m to $367.3m (+19%), an average of +4.4% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 96% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Touro University 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 NY. Charities of a similar size with the same main cause include Loma Linda University ($365.3m), University Medical Service Association Inc ($370.1m) and Illinois Institute of Technology ($364.5m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 7.9% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $5.3m (1.4% of expenses). Other salaries and wages came to $149.4m. At year end it held assets of $789.7m against liabilities of $518.1m, net assets of $271.7m. It reported 3,404 employees.