Worcester Polytechnic Institute FY2022 filing

Worcester, MA · Higher education institution · Since 1865

✓ Tax-deductible Latest data FY2022
Revenue
$444.9M
▲ +12% vs prior year
Spent
$445.5M
To programs
80%
Net assets
$765.6M
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Form 990 for the fiscal year ending June 2022 (IRS tax year 2021).

Figures match the IRS filing checked 7/4/26 · see original: IRS

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
8 funders, incl. The Ayco Charitable Foundation
$222K in the latest grant year.
Spent on programs?
80% to programs
Form 990 Part IX, latest filing.
Size and trend
$100M+
↑ +12% vs prior year
Legal name (IRS)Hdr · item CWorcester Polytechnic Institute
EINHdr · item D04-2121659
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFAug 1934
Year of formationHdr · item L1865
Latest filingForm 990FY2024 · Form 990-T
Principal addressHdr · item CWorcester, MA
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.wpi.edu

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.80 Management & general $0.18 Fundraising $0.02
Program services80%$357.8M
Management & general18%$79.6M
Fundraising2%$8.2M
Total functional expensesLn 25$445.5M

Financial health

Revenue & expenses by yearFY2020–FY2024
Revenue
$444.9M
FY2022▲ +12%
Expenses
$445.5M
FY2022▲ +12%

Summary of the Filing

Part I · fiscal year 2022 · Form 990-T
Total assets
$1.3B
FY2022▼ -4%
Total liabilities
$485.2M
FY2022▼ -4%
Revenue less expensesPt I · Ln 19−$625K
Total assetsPt X · Ln 16$1.3B
Program-expense ratioPt IX · col B80%
Voting members of governing bodyPt I · Ln 330
Independent voting membersPt I · Ln 429

Balance Sheet

Part X · end of year
CashLn 1$9.0M
Total assetsLn 16$1.3B
Total liabilitiesLn 26$485.2M
Total net assetsLn 32$765.6M
Months of cash on handcomputed0.2

Statement of Revenue

Part VIII
Program service revenue$414.3M · 93%
Contributions & grants$25.9M · 6%
Investment income$4.3M · 1%
Program service revenue93%$414.3M
Contributions & grants6%$25.9M
Investment income1%$4.3M
Other revenue$317K
— government grantsLn 1e$1.5M
Total revenueLn 12$444.9M

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President (thru 05/2022)
$1,905,265Pt VII · Sec A
Treas, Exec VP, CFO (thru 08/21)
$738,198Pt VII · Sec A
Secretary & General Counsel
$608,493Pt VII · Sec A
Provost (thru 05/22)/Interim. Pres.
$564,121Pt VII · Sec A
VP Student Affairs
$417,975Pt VII · Sec A
VP and Chief of Staff
$397,411Pt VII · Sec A
Dean of Arts & Sciences
$369,685Pt VII · Sec A
Vice Provost Research
$345,675Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Laurie Leshin——$1,146,542$1,905,265$990,672—
Laurie Leshin—————$1,206,233
Jinliu Wang$995,961$807,682————
Jeffrey Solomon——$276,084$738,198$493,020—
Stephen Flavin—————$729,114
Winston Soboyejo—$540,190$726,939$564,121$443,922—
David Bunis$552,517$574,842$571,132$608,493$449,315—
Michael Horan$589,073$577,082$476,179$194,712——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Worcester Polytechnic Institute executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a30
Independent voting membersPt VI · Ln 1b29
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Mission and programs

Provides higher education and conducts applied science and engineering research to develop technological innovations that benefit society.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

2 program services account for $357.8M of program spending, described in the organization's own filed words · FY2021.
01

The university provides education in the fields of science, technology, engineering and mathematics to approximately 5,200 undergraduate and 2,000 graduate students. In addition, housing and board auxiliary services are provided for approximately 2,400 students.

$311.5Mprogram expense
02

At the university, 223 faculty and post doc researchers, and 546 students are engaged in cutting-edge research across a broad range of disciplines. The university receives research funding from a variety of sources, primarily from governmental organizations such as the national science foundation, department of defense, national…

$46.2Mprogram expense

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Funders

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 8 funders →
Grants paid · 251 grants · $785.0M · 2019–2024
Unitemized GrantFY2024$155,149,656
Unitemized GrantFY2023$144,171,767
Assistments Foundation INCMA · FY2023$1,107,292
City of WorcesterFY2023$795,713
WestedCA · FY2023$613,927
NC A&t State UniversityFY2023$408,750
University of IllinoisFY2023$313,431
University of MinnesotaFY2023$309,254
West Virginia UniversityWV · FY2023$295,310
Drexel UniversityPA · FY2023$291,080
Gdb InternationalFY2023$281,267
Lesley UniversityMA · FY2023$241,053
Institute of Gas TechnologyIL · FY2023$224,641
Univ of Massachusetts Medical SchoolFY2023$189,919
Trustees of Purdue UniversityIN · FY2023$175,452
University of MarylandFY2023$163,552
University of FloridaFL · FY2023$159,152
See all 251 grants →

Filing history

YearRevenueExpensesChangeFiling
FY2024 $490.8M$505.3M+6% 990 PDF
FY2023 $462.7M$483.0M+4% 990 PDF
FY2022 Viewing $444.9M$445.5M+12% 990 PDF
FY2021 $398.2M$398.5M+4% 990 PDF
FY2020 $384.5M$390.9M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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