The provision of higher education in the liberal arts and sciences, medicine and dentistry, nursing and music; research; and charitable patient care services.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Run by 5,233 volunteers and 37,371 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
6 of 6
filings with a surplus
Average surplus $160.5M a year · 3% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$32.9M
to officers and key staff · 0.5% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $5.50B in investments, Pt X · Ln 11–13
Fine: 0.4 months of spending in cash, plus $5.50B in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
27
named funders · $2.7M
Looks good: 27 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$3.9B
43% of total assets
Looks good: liabilities are 43% of assets; 50% or less.
Pt X · Ln 26
Independent board members
35
of 36 voting members
Looks good: 35 of 36 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.4B
+9% vs prior year
Spent
$6.3B
To programs
96%
Net assets
$5.2B
By yearFY2020–FY2025
Revenue
$6.4B
FY2025▲ +9%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.1B
FY2021$4.8B
FY2022$4.9B
FY2023$5.4B
FY2024$5.9B
FY2025$6.4B
Expenses
$6.3B
FY2025▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.1B
FY2021$4.3B
FY2022$4.7B
FY2023$5.3B
FY2024$5.8B
FY2025$6.3B
Net assets
$5.2B
FY2025▲ +9%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.4B
FY2021$4.7B
FY2022$4.3B
FY2023$4.5B
FY2024$4.7B
FY2025$5.2B

From the FY2025 Form 990 (year ending June 2025) · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1934.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $6.1B Management & general 3% · $174.4M Fundraising 1% · $51.1M

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

74 people listed on the 990; $32.9M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Professor - Cardiac Surgery M&d
$2,866,454Pt VII · Sec A
Professor - Neurosurgery
$2,462,832Pt VII · Sec A
SVP, Dean Smd, CEO Urmc
$2,268,785Pt VII · Sec A
Professor - Neurosurgery
$2,118,323Pt VII · Sec A
Professor - Orthopaedics M&d
$2,047,496Pt VII · Sec A
Professor - Orthopaedics M&d
$1,864,780Pt VII · Sec A
Trustee, Pres & CEO
$1,637,764Pt VII · Sec A
Pres System Integ, Urmc
$1,408,233Pt VII · Sec A

George M Alfieris MD’s $2.9M as Professor - Cardiac Surgery M&d is at the 93rd 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
George M Alfieris MD$2,866,454$2,867,020$1,690,108$1,690,215$7,492,136$1,692,037
Michael D Maloney MD$2,047,496$3,476,592$2,763,982$1,965,451$1,948,938$1,958,525
Steven I Goldstein$1,408,233$1,633,548$3,306,548$3,165,449$1,352,695$1,232,162
Tarun Bhalla MD$2,462,832$2,477,633$2,347,373$2,549,247$1,928,777$1,714,952
David Linehan MD$2,268,785—————
Robert W Molinari MD————$2,155,021—
Matthew T Bender MD$2,118,323$1,963,828—$1,352,822——
Mark B Taubman MD$742,745$1,879,642$1,783,432$1,570,098$1,402,783$1,584,714

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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II12 listed

Programs and updates

Provides higher education, conducts research, and delivers comprehensive healthcare services through its university hospital, clinics, and regional health systems.

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Provided by the organization

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3 programs · $6.0B · in their own filed words · FY2024
01

See schedule o

$4.3Bprogram expense
02

See schedule o

$1.2Bprogram expense
03

See schedule o

$417.2Mprogram 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 27 funders →
Grants paid · 9 grants · $1.7B · 2019–2024
Unitemized GrantFY2024$294,756,967
Unitemized GrantFY2023$279,621,477
Unitemized GrantFY2022$369,878,164
Unitemized GrantFY2021$262,957,259
Unitemized GrantFY2021$9,234,438
Unitemized GrantFY2020$258,055,464
Unitemized GrantFY2020$1,322,655
Unitemized GrantFY2019$257,886,010
Unitemized GrantFY2019$3,005,849

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$6.4B
Ln 12
Fees for servicesLn 2g$5.7B
Gifts and grantsLn 1h$541.0M
Investment incomeLn 3$194.6M
Money outPt IX
$6.3B
Ln 25
Programscol B$6.1B
Managementcol C$174.4M
Fundraisingcol D$51.1M
Owns and owesPt X
$5.2B
net assets · Ln 32
Cash and savingsLn 1–2$197.2M
Total assetsLn 16$9.1B
LiabilitiesLn 26$3.9B
PeoplePt VI, VII
74
listed · VII A
PaidVII A35
Voting boardVI 1a36
IndependentVI 1b35
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$541.0M
Government grantsLn 1e$394.6M
Noncash giftsLn 1g$32.5M
Fundraising eventsLn 1c$3.9M
Fees for servicesLn 2g$5.7B
Investment incomeLn 3$194.6M
Other incomeLn 4–11$10.2M
Gains on assetsLn 7$77.0M
Total revenueLn 12$6.4B
Assets in detailPt X, end of year
SavingsLn 2$197.2M
Cash and savings togetherLn 1–2$197.2M
InvestmentsLn 11–13$5.50B
Land, buildings, equipmentLn 10c$2.03B
Other assetsLn 15$251.9M
Total assetsLn 16$9.1B
LiabilitiesLn 26$3.9B
Net assetsLn 32$5.2B
OperationsPt I, VI
EmployeesI 537,371
VolunteersI 65,233
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 FY25End FY25
Cash and savingsLn 1–2$157.2M$197.2M
InvestmentsLn 11–13$4.68B$5.50B
Land, buildings, equipmentLn 10c$2.34B$2.03B
Total assetsLn 16$8.36B$9.07B
LiabilitiesLn 26$3.62B$3.89B
Net assetsLn 32$4.74B$5.18B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$294.8M$294.8M
Pay of current officers, directors and key staffLn 5$19.2M$13.3M$4.4M$1.5M
Pay of disqualified personsLn 6$2.0M$1.4M$591K
Other salaries and wagesLn 7$3.14B$3.06B$60.1M$26.0M
Pension plan contributionsLn 8$181.6M$174.9M$5.1M$1.6M
Other employee benefitsLn 9$461.9M$440.2M$16.6M$5.0M
Payroll taxesLn 10$181.1M$174.4M$5.1M$1.6M
Management feesLn 11a$46.3M$46.3M
Legal feesLn 11b$8.8M$5.6M$3.3M
Accounting feesLn 11c$1.4M$85K$1.3M
Lobbying feesLn 11d$634K$634K
Professional fundraising feesLn 11e$289K$289K
Other fees for servicesLn 11g$289.2M$281.8M$5.8M$1.5M
Advertising and promotionLn 12$3.2M$3.2M$10K
Office expensesLn 13$100.2M$93.4M$4.5M$2.2M
Information technologyLn 14$93.9M$92.7M$822K$364K
RoyaltiesLn 15$1.4M$1.4M
OccupancyLn 16$163.5M$162.9M$597K$8K
TravelLn 17$22.2M$14.7M$1.2M$6.3M
Conferences, conventions and meetingsLn 19$21.8M$21.0M$618K$187K
InterestLn 20$54.4M$52.4M$1.5M$466K
Depreciation, depletion and amortizationLn 22$259.1M$249.6M$7.3M$2.2M
InsuranceLn 23$45.4M$45.4M
Other expenses (24a–d)Ln 24$949.9M$892.6M$55.4M$1.9M
Total functional expensesLn 25$6.35B$6.12B$174.4M$51.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $6.4B$6.3B$69.7M$5.2B 990 PDF
FY2024 $5.9B$5.8B$116.3M$4.7B 990 PDF
FY2023 $5.4B$5.3B$77.5M$4.5B 990 PDF
FY2022 $4.9B$4.7B$189.6M$4.3B 990 PDF
FY2021 $4.8B$4.3B$461.1M$4.7B 990 PDF
FY2020 $4.1B$4.1B$48.5M$3.4B 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 FY2025 990 (6 parts)
Part I · Summary $6,415,541,241 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $491,656,138$541,015,265
I-9 Program service revenuePrior year $5,204,263,904$5,669,745,574
I-10 Investment incomePrior year $208,480,090$194,628,036
I-11 Other revenuePrior year $4,999,144$10,152,366
I-12 Total revenuePrior year $5,909,399,276$6,415,541,241
I-13 Grants and similar amounts paidPrior year $279,621,477$294,756,967
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,204,166,998$3,989,425,344
I-16a Professional fundraising feesPrior year $268,923$289,441
I-17 Other expensesPrior year $2,309,015,756$2,061,334,678
I-18 Total expensesPrior year $5,793,073,154$6,345,806,430
I-19 Revenue less expensesPrior year $116,326,122$69,734,811
Part VI · Governance 35 of 36 board members independent, no flags
VI-1a Voting members of the governing body36
VI-1b Independent voting members35
VI-2 Family or business relationship among officers or directorsNo
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 $6,415,541,241 across 15 lines filed
Lines not itemized here account for $12,925,785 of total revenue; see the IRS return.
VIII-1a Federated campaigns$310,719
VIII-1c Fundraising events$3,937,200
VIII-1d Related organizations$2,606,162
VIII-1e Government grants$394,609,756
VIII-1f All other contributions, gifts and grants$139,551,428
VIII-1g Noncash contributions (included above)$32,485,993
VIII-1h Total contributions, gifts and grants$541,015,265
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,663,387,143 · Unrelated business $6,358,431$5,669,745,574
VIII-3 Investment incomeUnrelated business $5,457,344 · Excluded from tax $99,234,006$104,691,350
VIII-5 RoyaltiesExcluded from tax $5,114,538$5,114,538
VIII-6 Net rental income or lossExcluded from tax $2,830,174$2,830,174
VIII-7 Net gain or loss on sales of assetsExcluded from tax $77,010,901$77,010,901
VIII-8 Net income from fundraising eventsExcluded from tax $1,398,407$1,398,407
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $809,247$809,247
VIII-12 Total revenueRelated to mission $5,663,387,143 · Unrelated business $12,625,022 · Excluded from tax $198,513,811$6,415,541,241
Part IX · Statement of functional expenses $6,345,806,430 across 24 lines filed
IX-2 Grants to domestic individualsPrograms $294,756,967$294,756,967
IX-5 Pay of current officers, directors and key staffPrograms $13,324,228 · Management $4,385,674 · Fundraising $1,533,096$19,242,998
IX-6 Pay of disqualified personsPrograms $1,407,603 · Management $590,900$1,998,503
IX-7 Other salaries and wagesPrograms $3,057,505,871 · Management $60,073,802 · Fundraising $25,982,194$3,143,561,867
IX-8 Pension plan contributionsPrograms $174,909,608 · Management $5,146,558 · Fundraising $1,555,275$181,611,441
IX-9 Other employee benefitsPrograms $440,230,273 · Management $16,645,000 · Fundraising $5,005,816$461,881,089
IX-10 Payroll taxesPrograms $174,445,399 · Management $5,132,900 · Fundraising $1,551,147$181,129,446
IX-11a Management feesPrograms $46,315,527$46,315,527
IX-11b Legal feesPrograms $5,563,840 · Management $3,267,652$8,831,492
IX-11c Accounting feesPrograms $85,378 · Management $1,337,593$1,422,971
IX-11d Lobbying feesPrograms $634,208$634,208
IX-11e Professional fundraising feesFundraising $289,441$289,441
IX-11g Other fees for servicesPrograms $281,831,073 · Management $5,818,695 · Fundraising $1,523,525$289,173,293
IX-12 Advertising and promotionPrograms $3,150,311 · Management $10,000$3,160,311
IX-13 Office expensesPrograms $93,417,799 · Management $4,536,717 · Fundraising $2,246,781$100,201,297
IX-14 Information technologyPrograms $92,702,467 · Management $821,833 · Fundraising $363,762$93,888,062
IX-15 RoyaltiesPrograms $1,359,112$1,359,112
IX-16 OccupancyPrograms $162,865,069 · Management $596,893 · Fundraising $7,698$163,469,660
IX-17 TravelPrograms $14,723,379 · Management $1,176,173 · Fundraising $6,341,294$22,240,846
IX-19 Conferences, conventions and meetingsPrograms $20,989,930 · Management $617,610 · Fundraising $186,640$21,794,180
IX-20 InterestPrograms $52,401,087 · Management $1,541,855 · Fundraising $465,944$54,408,886
IX-22 Depreciation, depletion and amortizationPrograms $249,580,189 · Management $7,343,673 · Fundraising $2,219,237$259,143,099
IX-23 InsurancePrograms $45,430,766$45,430,766
IX-24 Other expenses (24a–d)Programs $892,593,078 · Management $55,392,469 · Fundraising $1,875,421$949,860,968
IX-25 Total functional expensesPrograms $6,120,223,162 · Management $174,435,997 · Fundraising $51,147,271$6,345,806,430
Part X · Balance sheet $9,066,505,710 assets, 22 lines filed
Asset lines not itemized here account for $27,029,774; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $157,182,144$197,230,413
X-3 Pledges and grants receivableStart of year $221,953,453$246,844,642
X-4 Accounts receivableStart of year $607,057,038$709,527,238
X-8 Inventories for sale or useStart of year $66,144,984$74,628,683
X-9 Prepaid expenses and deferred chargesStart of year $28,940,875$34,321,378
X-10c Land, buildings and equipment, netStart of year $2,343,017,795$2,025,698,109
X-11 Publicly traded securitiesStart of year $456,900,663$891,114,053
X-12 Other securitiesStart of year $4,224,621,038$4,608,257,482
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $231,633,925$251,853,938
X-16 Total assetsStart of year $8,355,774,412$9,066,505,710
X-17 Accounts payable and accrued expensesStart of year $694,620,345$861,874,867
X-19 Deferred revenueStart of year $76,412,647$73,438,445
X-20 Tax-exempt bond liabilitiesStart of year $1,380,482,203$1,382,794,086
X-24 Unsecured notes and loans payableStart of year $269,282,734$269,282,734
X-25 Other liabilitiesStart of year $938,503,104$1,056,999,015
X-26 Total liabilitiesStart of year $3,618,207,830$3,886,621,208
X-27 Net assets without donor restrictionsStart of year $2,873,222,316$3,268,381,013
X-28 Net assets with donor restrictionsStart of year $1,864,344,266$1,911,503,489
X-32 Total net assets or fund balancesStart of year $4,737,566,582$5,179,884,502
X-33 Total liabilities and net assetsStart of year $8,355,774,412$9,066,505,710
Part XI · Reconciliation of net assets $5,179,884,502 net assets at year end
XI-1 Total revenue$6,415,541,241
XI-2 Total expenses$6,345,806,430
XI-3 Revenue less expenses$69,734,811
XI-4 Net assets at start of year$4,737,566,582
XI-5 Net unrealized gains (losses) on investments$372,583,109
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,179,884,502

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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