Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1938.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
99 cents of each dollar spent went to programs.
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
61 people listed on the 990; $5.3M paid to officers and key staff.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Paul O'Byrne | $340,753 | $347,586 | $343,460 | $508,955 | $354,009 | $343,609 |
| Claudia Emerson | $343,140 | $347,428 | $346,695 | $496,626 | — | — |
| John Kelton | — | $302,307 | $312,666 | $474,231 | $272,441 | $273,492 |
| Mohit Bhandari | $321,708 | $468,210 | $365,214 | $395,297 | $229,810 | — |
| Akbar Panju | — | — | — | $419,881 | $287,563 | $275,349 |
| Salim Yusuf | $360,210 | $373,913 | $374,049 | $416,757 | $368,486 | $351,192 |
| Angelo Mikrogianakis | — | — | — | $402,607 | $292,396 | $290,076 |
| David Farrar | $379,418 | $345,311 | $313,433 | $318,670 | $305,191 | $268,218 |
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 II1 listed
Programs and updates
Sells goods and services to support university education and research activities.
Questions for McMaster University Ontario
Your first name shows with your question. McMaster University Ontario answers here, for everyone.
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Operating fund -- unrestricted general revenues and expenses that are directly related to the mission of the university, education and activities supporting research.
Research fund -- research-related funds externally restricted by the university that have a non-expandable requirement as well as other legal requirements for use as agreed upon by the donor and the university.
Ancillary fund -- sales of goods and services by departments that are defined as being supplementary to the university's operating activities of education and research. Such sales may be made to the university community AND/OR external clients. Ancillary operations are self-sustaining.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $271.2M | $255.7M |
| InvestmentsLn 11–13 | $1.44B | $1.60B |
| Land, buildings, equipmentLn 10c | $1.02B | $1.00B |
| Total assetsLn 16 | $2.93B | $3.06B |
| LiabilitiesLn 26 | $1.25B | $1.19B |
| Net assetsLn 32 | $1.68B | $1.87B |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $427K | $427K | ||
| Grants to domestic individualsLn 2 | $0 | |||
| Grants and assistance to foreign recipientsLn 3 | $80.7M | $80.7M | ||
| Benefits paid to or for membersLn 4 | $0 | $0 | ||
| Pay of current officers, directors and key staffLn 5 | $3.5M | $3.5M | ||
| Pay of disqualified personsLn 6 | $0 | |||
| Other salaries and wagesLn 7 | $508.8M | $508.8M | ||
| Pension plan contributionsLn 8 | $36.1M | $36.1M | ||
| Other employee benefitsLn 9 | $30.2M | $30.2M | ||
| Payroll taxesLn 10 | $47.1M | $47.1M | ||
| Management feesLn 11a | $4.9M | $4.9M | ||
| Legal feesLn 11b | $6.3M | $6.3M | ||
| Accounting feesLn 11c | $294K | $294K | ||
| Lobbying feesLn 11d | $0 | $0 | ||
| Professional fundraising feesLn 11e | $0 | |||
| Investment management feesLn 11f | $4.3M | $4.3M | ||
| Other fees for servicesLn 11g | $0 | $0 | ||
| Advertising and promotionLn 12 | $4.0M | $4.0M | ||
| Office expensesLn 13 | $56.8M | $56.8M | ||
| Information technologyLn 14 | $8.0M | $8.0M | ||
| RoyaltiesLn 15 | $3.2M | $3.2M | ||
| OccupancyLn 16 | $20.1M | $20.1M | ||
| TravelLn 17 | $16.2M | $16.2M | ||
| Travel and entertainment for public officialsLn 18 | $0 | $0 | ||
| Conferences, conventions and meetingsLn 19 | $0 | $0 | ||
| InterestLn 20 | $13.0M | $13.0M | ||
| Payments to affiliatesLn 21 | $0 | $0 | ||
| Depreciation, depletion and amortizationLn 22 | $72.3M | $72.3M | ||
| InsuranceLn 23 | $2.8M | $2.8M | ||
| Other expenses (24a–d)Ln 24 | $40.5M | $29.2M | $11.2M | |
| All other expensesLn 24e | $40.0M | $40.0M | ||
| Total functional expensesLn 25 | $999.5M | $988.2M | $11.2M | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $1.1B | $999.5M | $115.8M | $1.9B | 990 PDF |
| FY2024 | $1.1B | $1.0B | $101.8M | $1.7B | 990 PDF |
| FY2023 | $1.1B | $944.6M | $112.5M | $1.4B | 990 PDF |
| FY2022 | $954.6M | $912.4M | $42.2M | $1.3B | 990 PDF |
| FY2021 | $993.8M | $816.5M | $177.3M | $1.5B | 990 PDF |
| FY2020 | $868.7M | $799.8M | $68.9M | $852.2M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $1,115,308,465 revenue, 12 lines filed
Part VI · Governance 34 of 50 board members independent, no flags
Part VIII · Statement of revenue $1,115,308,465 across 14 lines filed
Part IX · Statement of functional expenses $999,465,567 across 31 lines filed
Part X · Balance sheet $3,062,492,760 assets, 24 lines filed
Part XI · Reconciliation of net assets $1,870,476,397 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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