The Rockefeller University (the University) is a world renowned center for research (see schedule O) and graduate education in the biomedical sciences, chemistry, bioinformatics, and physics. The University's 82 laboratories conduct both clinical and basic research and study a diverse range of biological and biomedical problems with the mission of improving the understanding of life for the benefit of humanity. Laboratories are loosely clustered in nine research areas covering a wide spectrum of disciplines in the life sciences, including neuroscience, immunology, genetics, structural biology and bioinformatics. The University does not charge tuition. Its revenues are derived primarily from investment income, government grants and contracts, and private gifts and grants.

501(c)(3) charity; gifts are tax-deductible.
61¢ of each $1 spent went to programs.
$11.0M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $55.4M a year · 11% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
61%
of spending
Worth a look: 61% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$11.0M
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $3.02B in investments, Pt X · Ln 11–13
Fine: 1.6 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $327K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$1.5B
34% of total assets
Looks good: liabilities are 34% of assets; 50% or less.
Pt X · Ln 26
Independent board members
38
of 40 voting members
Looks good: 38 of 40 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$530.3M
+16% vs prior year
Spent
$585.0M
To programs
61%
Net assets
$3.0B
By yearFY2020–FY2025
Revenue
$530.3M
FY2021▲ +16%
Tap a bar for its year
Revenue by fiscal year
FY2020$455.4M
FY2021$530.3M
FY2022$535.3M
FY2023$514.6M
FY2024$501.0M
FY2025$458.4M
Expenses
$585.0M
FY2021▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2020$549.3M
FY2021$585.0M
FY2022$596.1M
FY2023$521.2M
FY2024$571.3M
FY2025$504.4M
Net assets
$3.0B
FY2021▲ +22%
Tap a bar for its year
Net assets by fiscal year
FY2020$2.5B
FY2021$3.0B
FY2022$2.7B
FY2023$2.6B
FY2024$2.5B
FY2025$2.6B

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1938.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

61 cents of each dollar spent went to programs.

Program services 61% · $359.5M Management & general 37% · $216.2M Fundraising 2% · $9.2M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

66 people listed on the 990; $11.0M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$1,439,048Pt VII · Sec A
$1,170,198Pt VII · Sec A
$911,783Pt VII · Sec A
VP, Academic Affairs
$697,207Pt VII · Sec A
SVP, Development
$689,310Pt VII · Sec A
VP & Physician-In-Chief
$667,106Pt VII · Sec A
Executive Vice President
$627,776Pt VII · Sec A
Professor, Head of Laborat
$587,612Pt VII · Sec A

Paula Volent’s $1.9M as Chief Investment Officer is at the 89th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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

NameFY2025FY2024FY2023FY2022FY2021FY2020
Paula Volent$1,928,555$1,806,255$1,630,953$396,604——
Amy Falls———$200,194—$1,452,137
Amy Falls Till 42021————$1,439,048—
Richard P Lifton MD PHD$1,308,593$1,271,737$1,221,729$1,231,319$1,170,198$1,165,464
Betty Y Chen - Managing$926,322—————
Thomas Lenehan—————$913,988
Thomas Lenehan Till 122020————$911,783—
Maren Imhoff$803,309$731,411$736,718$720,446$689,310$725,957

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.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II9 listed

Programs and updates

Conducts advanced biomedical and scientific research while providing tuition-free graduate education to improve human health and understand life sciences.

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3 programs · $324.2M · in their own filed words · FY2020
01

Research Education

70 laboratories (and 19 emeritus laboratories) including 81 faculty members, 280 post-doctoral scholars, 236 graduate students and weill medical college of cornell university medical students.

$305.8Mprogram expense
02

Hospital

Consists of 40 beds and serves as a clinical research center for outpatients and inpatients. The rockefeller university hospital exists solely to conduct clinical research. The specialized personnel and other resources available at the hospital facilitate clinical research for both the investigator and the research participant.

$15.8Mprogram expense
03

Library contains 241,013 volumes (of which 189,700 are on-line) and 7,206 on-line subscriptions and is maintained on an open stock policy. The library strives to advance knowledge by supporting our university's world class research community with technology, innovation, and collaboration in the field of science information and…

$2.7Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
See all 6 funders →
Grants paid · 6 grants · $37.3M · 2019–2024
Unitemized GrantFY2024$10,585,013
Unitemized GrantFY2024$3,506,984
Unitemized GrantFY2020$7,635,503
Unitemized GrantFY2020$3,914,355
Unitemized GrantFY2019$7,128,097
Unitemized GrantFY2019$4,553,147

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$530.3M
Ln 12
Gifts and grantsLn 1h$239.4M
Investment incomeLn 3$230.0M
Other incomeLn 4–11$31.0M
Money outPt IX
$585.0M
Ln 25
Programscol B$359.5M
Managementcol C$216.2M
Fundraisingcol D$9.2M
Owns and owesPt X
$3.0B
net assets · Ln 32
Cash and savingsLn 1–2$78.2M
Total assetsLn 16$4.5B
LiabilitiesLn 26$1.5B
PeoplePt VI, VII
66
listed · VII A
PaidVII A18
Voting boardVI 1a40
IndependentVI 1b38
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$239.4M
Government grantsLn 1e$97.0M
Noncash giftsLn 1g$73.2M
Fees for servicesLn 2g$30.0M
Investment incomeLn 3$230.0M
Other incomeLn 4–11$31.0M
Gains on assetsLn 7$228.3M
Total revenueLn 12$530.3M
Assets in detailPt X, end of year
CashLn 1$43K
SavingsLn 2$78.2M
Cash and savings togetherLn 1–2$78.2M
InvestmentsLn 11–13$3.02B
Land, buildings, equipmentLn 10c$1.14B
Other assetsLn 15$21.9M
Total assetsLn 16$4.5B
LiabilitiesLn 26$1.5B
Net assetsLn 32$3.0B
OperationsPt I, VI
EmployeesI 51,717
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$82.6M$78.2M
InvestmentsLn 11–13$2.34B$3.02B
Land, buildings, equipmentLn 10c$1.17B$1.14B
Total assetsLn 16$3.88B$4.53B
LiabilitiesLn 26$1.42B$1.52B
Net assetsLn 32$2.46B$3.01B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$11.5M$11.5M
Pay of current officers, directors and key staffLn 5$7.2M$1.6M$5.0M$650K
Other salaries and wagesLn 7$124.4M$106.3M$14.0M$4.1M
Pension plan contributionsLn 8$11.4M$9.4M$1.4M$546K
Other employee benefitsLn 9$39.5M$32.2M$5.9M$1.4M
Payroll taxesLn 10$8.4M$7.0M$1.1M$301K
Legal feesLn 11b$1.2M$1.2M
Accounting feesLn 11c$445K$70K$374K
Investment management feesLn 11f$591K$591K
Other fees for servicesLn 11g$24.5M$22.4M$2.0M$96K
Advertising and promotionLn 12$677K$377K$41K$260K
Office expensesLn 13$50.4M$48.8M$1.5M$93K
Information technologyLn 14$2.8M$2.3M$983$475K
RoyaltiesLn 15$9.7M$9.7M
OccupancyLn 16$10.2M$9.6M$450K$113K
TravelLn 17$82K$71K$11K$149
Conferences, conventions and meetingsLn 19$123K$106K$17K$224
InterestLn 20$36.8M$32.9M$3.9M
Depreciation, depletion and amortizationLn 22$56.2M$51.2M$3.8M$1.2M
InsuranceLn 23$4.1M$1.0M$3.1M
Other expenses (24a–d)Ln 24$184.6M$12.7M$171.9M
Total functional expensesLn 25$585.0M$359.5M$216.2M$9.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $458.4M$504.4M−$46.0M$2.6B 990 PDF
FY2024 $501.0M$571.3M−$70.3M$2.5B 990 PDF
FY2023 $514.6M$521.2M−$6.6M$2.6B 990 PDF
FY2022 $535.3M$596.1M−$60.7M$2.7B 990 PDF
FY2021 Viewing $530.3M$585.0M−$54.7M$3.0B 990 PDF
FY2020 $455.4M$549.3M−$93.9M$2.5B 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support M · Noncash J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $530,345,700 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $176,863,709$239,404,552
I-9 Program service revenuePrior year $32,531,806$29,975,570
I-10 Investment incomePrior year $180,279,702$230,010,867
I-11 Other revenuePrior year $65,772,034$30,954,711
I-12 Total revenuePrior year $455,447,251$530,345,700
I-13 Grants and similar amounts paidPrior year $11,681,244$11,549,858
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $199,725,366$191,030,276
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $337,902,695$382,431,569
I-18 Total expensesPrior year $549,309,305$585,011,703
I-19 Revenue less expensesPrior year −$93,862,054−$54,666,003
Part VI · Governance 38 of 40 board members independent, 1 to look at
VI-1a Voting members of the governing body40
VI-1b Independent voting members38
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $530,345,700 across 11 lines filed
Lines not itemized here account for $444,944 of total revenue; see the IRS return.
VIII-1e Government grants$96,974,698
VIII-1f All other contributions, gifts and grants$142,429,854
VIII-1g Noncash contributions (included above)$73,189,539
VIII-1h Total contributions, gifts and grants$239,404,552
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $29,975,570$29,975,570
VIII-3 Investment incomeExcluded from tax $1,725,766$1,725,766
VIII-5 RoyaltiesExcluded from tax $21,975,808$21,975,808
VIII-6 Net rental income or lossExcluded from tax $7,273,573$7,273,573
VIII-7 Net gain or loss on sales of assetsUnrelated business −$1,552,941 · Excluded from tax $229,838,042$228,285,101
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $1,260,386$1,260,386
VIII-12 Total revenueRelated to mission $29,975,570 · Unrelated business −$1,552,941 · Excluded from tax $262,518,519$530,345,700
Part IX · Statement of functional expenses $585,011,703 across 21 lines filed
IX-2 Grants to domestic individualsPrograms $11,549,858$11,549,858
IX-5 Pay of current officers, directors and key staffPrograms $1,563,034 · Management $4,994,387 · Fundraising $649,600$7,207,021
IX-7 Other salaries and wagesPrograms $106,337,761 · Management $14,015,151 · Fundraising $4,093,792$124,446,704
IX-8 Pension plan contributionsPrograms $9,441,528 · Management $1,435,215 · Fundraising $546,179$11,422,922
IX-9 Other employee benefitsPrograms $32,206,220 · Management $5,915,937 · Fundraising $1,396,435$39,518,592
IX-10 Payroll taxesPrograms $7,047,053 · Management $1,087,359 · Fundraising $300,625$8,435,037
IX-11b Legal feesManagement $1,159,274$1,159,274
IX-11c Accounting feesPrograms $70,209 · Management $374,487$444,696
IX-11f Investment management feesManagement $590,501$590,501
IX-11g Other fees for servicesPrograms $22,415,297 · Management $2,026,990 · Fundraising $96,196$24,538,483
IX-12 Advertising and promotionPrograms $376,722 · Management $40,813 · Fundraising $259,692$677,227
IX-13 Office expensesPrograms $48,780,379 · Management $1,492,002 · Fundraising $93,038$50,365,419
IX-14 Information technologyPrograms $2,345,755 · Management $983 · Fundraising $475,005$2,821,743
IX-15 RoyaltiesPrograms $9,727,733$9,727,733
IX-16 OccupancyPrograms $9,647,191 · Management $449,753 · Fundraising $113,407$10,210,351
IX-17 TravelPrograms $70,565 · Management $11,387 · Fundraising $149$82,101
IX-19 Conferences, conventions and meetingsPrograms $105,847 · Management $17,080 · Fundraising $224$123,151
IX-20 InterestPrograms $32,887,337 · Management $3,865,099$36,752,436
IX-22 Depreciation, depletion and amortizationPrograms $51,169,316 · Management $3,771,194 · Fundraising $1,221,811$56,162,321
IX-23 InsurancePrograms $1,049,801 · Management $3,080,853$4,130,654
IX-24 Other expenses (24a–d)Programs $12,727,388 · Management $171,918,091$184,645,479
IX-25 Total functional expensesPrograms $359,518,994 · Management $216,246,556 · Fundraising $9,246,153$585,011,703
Part X · Balance sheet $4,529,661,441 assets, 21 lines filed
Asset lines not itemized here account for $43,300,972; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $38,433$42,800
X-2 Savings and temporary cash investmentsStart of year $82,573,981$78,204,097
X-3 Pledges and grants receivableStart of year $213,249,491$216,414,098
X-4 Accounts receivableStart of year $8,789,670$9,432,721
X-8 Inventories for sale or useStart of year $1,023,791$1,323,678
X-9 Prepaid expenses and deferred chargesStart of year $3,515,408$3,912,098
X-10c Land, buildings and equipment, netStart of year $1,171,360,181$1,139,613,256
X-11 Publicly traded securitiesStart of year $1,142,058,651$1,378,194,621
X-12 Other securitiesStart of year $1,195,688,985$1,633,386,478
X-13 Program-related investmentsStart of year $3,979,320$3,973,926
X-15 Other assetsStart of year $20,211,294$21,862,696
X-16 Total assetsStart of year $3,879,645,094$4,529,661,441
X-17 Accounts payable and accrued expensesStart of year $42,196,323$53,952,567
X-19 Deferred revenueStart of year $14,912,836$17,269,475
X-20 Tax-exempt bond liabilitiesStart of year $795,709,598$793,451,478
X-25 Other liabilitiesStart of year $464,419,781$455,728,478
X-26 Total liabilitiesStart of year $1,417,583,538$1,520,746,998
X-27 Net assets without donor restrictionsStart of year $362,918,488$342,100,568
X-28 Net assets with donor restrictionsStart of year $2,099,143,068$2,666,813,875
X-32 Total net assets or fund balancesStart of year $2,462,061,556$3,008,914,443
X-33 Total liabilities and net assetsStart of year $3,879,645,094$4,529,661,441
Part XI · Reconciliation of net assets $3,008,914,443 net assets at year end
XI-1 Total revenue$530,345,700
XI-2 Total expenses$585,011,703
XI-3 Revenue less expenses−$54,666,003
XI-4 Net assets at start of year$2,462,061,556
XI-5 Net unrealized gains (losses) on investments$546,657,360
XI-9 Other changes in net assets$54,861,530
XI-10 Net assets at end of year$3,008,914,443

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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