Rochester Institute of Technology

Analysis

Rochester Institute of Technology is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in July 1943, 83 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, Rochester Institute of Technology reported income of $1.04bn and spending of $997.2m, spending 96% of its income. Across the 4 years on record, from June 2019 to June 2023, income grew from $846.3m to $1.04bn (+23%), an average of +7.2% a year. The sharpest change came in the year to June 2022, when income rose by 26%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rochester Institute of Technology 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 Southern Methodist University ($1.04bn), Educational Testing Service ($1.06bn) and Ohio State University Physicians Inc ($1.03bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 18% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $6.0m (0.6% of expenses). Other salaries and wages came to $324.9m. It paid $194k in professional fundraising fees. At year end it held assets of $2.69bn against liabilities of $715.5m, net assets of $1.98bn. It reported 11,647 employees.