University of Chicago

Analysis

University of Chicago is a registered charity in United States, based in Chicago, IL. 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, University of Chicago reported income of $4.66bn and spending of $4.83bn, spending 104% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $4.49bn to $4.66bn (+3.8%), an average of +0.9% a year. The sharpest change came in the year to June 2020, when income dropped by 17%. Over the whole period it spent 97% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of Chicago 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 IL. Charities of a similar size with the same main cause include Icahn School of Medicine at Mount Sinai ($4.16bn), Massachusetts Institute of Technology ($4.95bn) and California Institute of Technology ($3.93bn).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 42% of the total. Compensation of current officers, directors and key employees was $21.1m (0.4% of expenses). Other salaries and wages came to $2.18bn. It paid $238k in professional fundraising fees. At year end it held assets of $14.66bn against liabilities of $6.17bn, net assets of $8.50bn. It reported 28,318 employees.