California Institute of Technology

Analysis

California Institute of Technology is a registered charity in United States, based in Pasadena, CA. It received its IRS tax-exemption ruling in February 1937, 89 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 September 2023, California Institute of Technology reported income of $3.93bn and spending of $3.70bn, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.69bn to $3.93bn (+6.7%), an average of +1.6% a year. Over the whole period it spent 95% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, California 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 CA. Charities of a similar size with the same main cause include Duke University ($3.75bn), Icahn School of Medicine at Mount Sinai ($4.16bn) and Princeton University ($3.61bn).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 17% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $12.9m (0.3% of expenses). Other salaries and wages came to $1.56bn. At year end it held assets of $6.94bn against liabilities of $2.64bn, net assets of $4.30bn. It reported 12,365 employees.