University of Miami

Analysis

University of Miami is a registered charity in United States, based in Coral Gables, FL. It received its IRS tax-exemption ruling in October 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 May 2023, University of Miami reported income of $5.92bn and spending of $5.50bn, spending 93% of its income. Across the 5 years on record, from May 2019 to May 2023, income grew from $4.23bn to $5.92bn (+40%), an average of +8.8% a year. The sharpest change came in the year to May 2022, when income rose by 15%. 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, University of Miami 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 FL. Charities of a similar size with the same main cause include Cornell University ($5.88bn), President and Fellows of Harvard College ($6.05bn) and University of Rochester ($5.42bn).

On its Form 990 for the period ending May 2023, revenue came from contributions and grants 16% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $11.7m (0.2% of expenses). Other salaries and wages came to $2.07bn. It paid $226k in professional fundraising fees. At year end it held assets of $7.03bn against liabilities of $2.93bn, net assets of $4.10bn. It reported 28,823 employees.