Trustees of the University of Pennsylvania

Analysis

Trustees of the University of Pennsylvania is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in October 1940, 86 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, Trustees of the University of Pennsylvania reported income of $9.93bn and spending of $9.26bn, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.94bn to $9.93bn (+25%), an average of +5.7% a year. The sharpest change came in the year to June 2021, when income rose by 22%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Trustees of the University of Pennsylvania 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 PA. Charities of a similar size with the same main cause include The Board of Trustees of the Leland Stanford Junior University ($8.47bn), Johns Hopkins University ($10.23bn) and Trustees of Columbia University ($6.65bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 19% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $53.2m (0.6% of expenses). Other salaries and wages came to $3.82bn. It paid $788k in professional fundraising fees. At year end it held assets of $32.93bn against liabilities of $7.56bn, net assets of $25.37bn. It reported 59,792 employees.