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Rensselaer Polytechnic Institute EIN 14-1340095

Rensselaer Polytechnic Institute

EIN  14-1340095 Higher education institution Troy, NY Founded 1824
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/4/26 · see original filing: IRS
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Size
$100M+
What they do
Educates future leaders for technology careers and conducts cutting-edge scientific research to drive global prosperity and innovation.
Leadership
Martin Schmidt · President · $1.2M
Money in and out
$737.2M revenue, $732.5M expenses
Bottom line
+1% operating surplus

Educates future leaders for technology careers and conducts cutting-edge scientific research to drive global prosperity and innovation. For fiscal year 2024 it reported $737.2M in revenue, $732.5M in expenses, and $969.1M in net assets.Pt I

Financial scale & money flow · FY2024
Total revenue
$737.2M
Pt VIII · Ln 12
Total expenses
$732.5M
Pt IX · Ln 25
Net assets
$969.1M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $4.7M
Where spending went · Part IX cols B–D
Program services $0.88 Management & general $0.11 Fundraising $0.01
Operating surplus
+1%
revenue over expenses, this legal entity▼ -28% vs prior filing year
Payroll share
35%
of this entity's spending is salaries & benefits▲ +5% vs prior filing year
Program spending
88%
of expenses reach program services▼ -1% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$737.2M
FY2024▲ +4%
Expenses
$732.5M
FY2024▲ +4%
Total assets
$1.8B
FY2024▲ +1%
Total liabilities
$785.4M
FY2024▼ -4%
Total revenue
$737.2M
Pt VIII · Ln 12
Total expenses
$732.5M
Pt IX · Ln 25
Net assets
$969.1M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$4.7M
Total assetsPt X · Ln 16$1.8B
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 322
Independent voting membersPt I · Ln 422
Mission & Programs · Part III

Where the work happens

3 program services account for $590.7M of program spending, described in the organization's own filed words · FY2024.
01

Instruction Number of Students Enrolled

Undergraduate: 5687 Graduate: 1280 Special: 54

$242.2Mprogram expense
02

Scholarships and Fellowships. Number of undergraduate students on scholarship: 5338 Number of graduate students on scholarships/fellowships: 1158

$241.6Mprogram expense
03

Research Number of Active Research Projects

510

$106.9Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CRensselaer Polytechnic Institute
EINHdr · item D14-1340095
Principal addressHdr · item CTroy, NY
WebsiteHdr · item Jwww.rpi.edu
Year of formationHdr · item L1824
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B430)
Ruling yearIRS BMFApr 1941

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a22
Independent voting membersPt VI · Ln 1b22
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 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$1,230,040Pt VII · Sec A
$676,131Pt VII · Sec A
Jonathan Dordick
Vice President for Strategic Alliances and Translation
$526,502Pt VII · Sec A
Craig Cook
Secretary and General Counsel
$514,929Pt VII · Sec A
Matthew Ter Molen
VP of Institute Advancement
$508,202Pt VII · Sec A
John Kolb
Vice President for Information Services & CTO
$498,472Pt VII · Sec A
Eileen McLoughlin
Vice President for Finance and CFO
$453,278Pt VII · Sec A
Rosaline Lee
VP and Chief Strategy Officer for Institutional Impact
$450,633Pt VII · Sec A

Martin Schmidt’s $1.2M as President is at the 81st 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

NameFY2024FY2024FY2023FY2022FY2021FY2020
Shirley Ann Jackson————$4,197,754$1,847,271
Dr Shirley Ann Jackson—$2,425,559$2,466,713———
Shirley Ann Jackson———$2,407,222——
Martin Schmidt$1,230,040$1,252,452$530,942———
Curtis N Powell————$1,130,016$536,670
Graig Eastin——$693,015$500,511——
Rebecca Doerge$676,131$321,137————
Curtis Powell—$471,888$590,273$560,268——

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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Statement of Revenue

Part VIII
Program service revenue$513.2M · 70%
Contributions & grants$144.5M · 20%
Investment income$78.0M · 11%
Program service revenue70%$513.2M
Contributions & grants20%$144.5M
Investment income11%$78.0M
Other revenue$1.5M
— government grantsLn 1e$70.3M
Total revenueLn 12$737.2M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.11 Fundraising $0.01
Program services88%$644.2M
Management & general11%$78.4M
Fundraising1%$10.0M
Total functional expensesLn 25$732.5M

Balance Sheet

Part X · end of year
CashLn 1$7.8M
Total assetsLn 16$1.8B
Total liabilitiesLn 26$785.4M
Total net assetsLn 32$969.1M
Months of cash on handcomputed0.1

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.0B · Operating expenses (Pt IX) $732.5M · Less non-cash grants $5.4M · Cash operating expenses/yr $727.1M
17.3 months
Where the money goes
Program services
Program services $644.2M · Total expenses $732.5M
88%
Management & General
Management & general $78.4M · Total expenses $732.5M
11%
Fundraising
Fundraising $10.0M · Total expenses $732.5M
1%
Cost to raise $1
Fundraising expense (3-yr avg) $7.7M · Solicited contributions (3-yr avg) $59.4M
$0.13 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $144.5M · Total revenue $737.2M
20%
Government reliance
Government grants $70.3M · Total revenue $737.2M
10%
Earned-income share
Program service revenue $513.2M · Total revenue $737.2M
70%
Investment reliance
Investment income $78.0M · Total revenue $737.2M
+11%
Program self-sufficiency
Program service revenue $513.2M · Total expenses $732.5M
70%
Growth & trend
Revenue growth (YoY)
This year $737.2M · Prior year $709.4M
+4%
Revenue CAGR
FY2019 $653.0M · FY2024 $737.2M
+2%
Net-asset trend (YoY)
End of year $969.1M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $737.2M · Expenses $732.5M
+1%
Liabilities-to-Assets
Total liabilities — · Total assets $1.8B
—
Net-asset ratio
Net assets $969.1M · Total assets $1.8B
55%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $447.1M · Other securities (Pt X, ln 12) $591.3M · Total assets (Pt X, ln 16) $1.8B
59%
People & payroll
Highest Reported Total Compensation
Individual Martin Schmidt · Reported title President · Highest reported compensation $1.2M · Total expenses $732.5M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $255.6M · Total expenses $732.5M
35%
Fundraising vendors
Fundraiser cost ratio
Paid to fundraisers $224K · Gross raised $200K
112%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 88%——
Overhead ratio 11%——
Fundraising cost ratio 7%——
Revenue growth 4%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
The Fullgraf FoundationFY2025$1.0M
The Ayco Charitable FoundationFY2025$193K
Fredric Fenstermacher Foundation INCFY2025$5K
Total grants receivedfrom 3 funders$1.2M
See all 3 funders →
Grants paid · 411 grants · $59.6M · 2019–2024
Unitemized GrantFY2024$1,757,160
Albany Med Health SystemNY · FY2024$659,031
Carnegie Mellon UniversityPA · FY2024$555,270
University of South CarolinaFY2024$543,406
Unitemized GrantFY2024$472,268
Regents of the University of ColoradoCO · FY2024$370,362
Johns Hopkins UniversityMD · FY2024$349,595
Regents Univ of CaliforniaCA · FY2024$306,107
Research Foundation for the State University of New YorkNY · FY2024$302,388
University of North Carolina at Chapel HillNC · FY2024$273,946
University of ChicagoIL · FY2024$255,496
Carnegie Institution of WashingtonDC · FY2024$249,504
Institute of Gas TechnologyIL · FY2024$249,363
Mass General Brigham IncorporatedMA · FY2024$242,350
Unitemized GrantFY2024$228,075
Hudson Valley Textile Project INCNY · FY2024$202,410
The University of South FloridaFY2024$198,011
Danimer Scientific INCFY2024$174,947
See all 411 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$709.4M revenue · ⤓ 990 PDF
FY2023$666.6M revenue · ⤓ 990 PDF
FY2022$703.2M revenue · ⤓ 990 PDF
FY2021$616.6M revenue · ⤓ 990 PDF
FY2020$653.0M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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