Cornell University

Analysis

Cornell University is a registered charity in United States, based in Ithaca, NY. It received its IRS tax-exemption ruling in October 1951, 75 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, Cornell University reported income of $5.88bn and spending of $5.85bn, spending 99% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $5.00bn to $5.88bn (+18%), an average of +4.1% a year. The sharpest change came in the year to June 2021, when income rose by 19%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cornell 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 University of Rochester ($5.42bn), University of Miami ($5.92bn) and University of Southern California ($5.12bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 11% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $17.4m (0.3% of expenses). Other salaries and wages came to $2.70bn. It paid $605k in professional fundraising fees. At year end it held assets of $17.34bn against liabilities of $4.00bn, net assets of $13.34bn. It reported 43,858 employees.