501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
Run by 2,122 volunteers and 19,482 employees.
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 $1.2B a year · 37% 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
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$31.5M
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
<1 mo
of spending, in cash
Plus $25.82B in investments, Pt X · Ln 11–13
Fine: 0.7 months of spending in cash, plus $25.82B in investments.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
20
named funders · $1.9M
Looks good: 20 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$5.1B
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
35
of 39 voting members
Looks good: 35 of 39 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.4B
+3% vs prior year
Spent
$2.4B
To programs
85%
Net assets
$24.5B
By yearFY2020–FY2025
Revenue
$3.4B
FY2025▲ +3%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.5B
FY2021$3.5B
FY2022$3.5B
FY2023$2.6B
FY2024$3.3B
FY2025$3.4B
Expenses
$2.4B
FY2025▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.7B
FY2021$1.7B
FY2022$1.9B
FY2023$2.0B
FY2024$2.2B
FY2025$2.4B
Net assets
$24.5B
FY2025▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2020$14.5B
FY2021$21.5B
FY2022$20.1B
FY2023$20.3B
FY2024$22.1B
FY2025$24.5B

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 Jan 1984.

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

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $2.0B Management & general 12% · $284.6M Fundraising 3% · $77.2M

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

50 people listed on the 990; $31.5M 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
Head Coach, Football
$8,072,688Pt VII · Sec A
VP & Chief Investment Officer (until 6/30/24)
$3,849,508Pt VII · Sec A
Offensive Coordinator, Football
$2,428,515Pt VII · Sec A
VP & Chief Investment Officer (as of 7/1/2024)
$2,294,818Pt VII · Sec A
Defensive Coordinator, Football
$2,268,020Pt VII · Sec A
Head Coach, Men's Basketball
$2,237,057Pt VII · Sec A
VP & Director of Athletics (as of 3/25/24)
$2,011,661Pt VII · Sec A
Executive Vice President
$1,956,209Pt VII · Sec A

Marcus L Freeman’s $8.1M as Head Coach, Football is at the 99th 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

NameFY2025FY2023FY2022FY2021FY2020
Marcus L Freeman$8,072,688————
Marcus Freeman—$6,629,205$2,224,311——
Scott C Malpass MBA———$4,769,181$4,934,116
Michael D Donovan Jd MBA$3,849,508$3,176,947$3,094,728$2,686,630—
Thomas G Burish PHD——$3,641,221$726,072$593,839
Brian Kelly——$2,877,687$2,202,466$2,560,144
Michael P Brey—$2,706,048$2,779,344$2,311,970$2,338,650
John B Swarbrick JR Jd$1,769,853$1,602,523$2,475,350$1,480,361—

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 University of Notre Dame Du Lac executive salaries →

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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

Programs and updates

Provides education, housing, food, recreation, and athletic programs for students and the university community.

Questions for University of Notre Dame Du Lac

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Provided by the organization

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2 programs · $2.0B · in their own filed words · FY2024
01

Academic Programs & Research

Provided academic instruction, support services, and public service and research opportunities to over 13,000 undergraduate and graduate students pursuing courses of study within six undergraduate colleges, a business school, a law school, an architecture school, a school of global affairs, and a graduate school.

$1.6Bprogram expense
02

Auxiliary Enterprises

Provided services to the University community, its guests and other patrons including food services, student and visitor lodging, laundry services, event management, and multiple recreational facilities.

$409.2Mprogram 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 20 funders →
Grants paid · 1,611 grants · $2.3B · 2019–2024
Unitemized GrantFY2024$462,891,287
Catholic Revival Initiative INCFL · FY2024$36,500,000
Unitemized GrantFY2024$8,214,044
Unitemized GrantFY2024$6,021,124
Enfocus INCIN · FY2024$1,552,578
Unitemized GrantFY2024$1,487,806
South Bend City Church INCIN · FY2024$1,147,841
University of UtahUT · FY2024$996,979
University of ChicagoIL · FY2024$921,985
University of ArkansasFY2024$847,196
Johns Hopkins UniversityMD · FY2024$837,555
Unitemized GrantFY2024$812,807
Trustees of Purdue UniversityIN · FY2024$791,141
See all 1,611 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$3.4B
Ln 12
Investment incomeLn 3$1.4B
Fees for servicesLn 2g$1.3B
Gifts and grantsLn 1h$698.3M
Money outPt IX
$2.4B
Ln 25
Programscol B$2.0B
Managementcol C$284.6M
Fundraisingcol D$77.2M
Owns and owesPt X
$24.5B
net assets · Ln 32
Cash and savingsLn 1–2$137.1M
Total assetsLn 16$29.6B
LiabilitiesLn 26$5.1B
PeoplePt VI, VII
50
listed · VII A
PaidVII A15
Voting boardVI 1a39
IndependentVI 1b35
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$698.3M
Government grantsLn 1e$142.4M
Noncash giftsLn 1g$168.2M
Fundraising eventsLn 1c$1.1M
Fees for servicesLn 2g$1.3B
Investment incomeLn 3$1.4B
Other incomeLn 4–11$16.2M
Gains on assetsLn 7$1.09B
Total revenueLn 12$3.4B
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$137.1M
Cash and savings togetherLn 1–2$137.1M
InvestmentsLn 11–13$25.82B
Land, buildings, equipmentLn 10c$2.82B
Other assetsLn 15$90.3M
Total assetsLn 16$29.6B
LiabilitiesLn 26$5.1B
Net assetsLn 32$24.5B
OperationsPt I, VI
EmployeesI 519,482
VolunteersI 62,122
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$119.2M$137.1M
InvestmentsLn 11–13$23.02B$25.82B
Land, buildings, equipmentLn 10c$2.74B$2.82B
Total assetsLn 16$26.69B$29.64B
LiabilitiesLn 26$4.59B$5.09B
Net assetsLn 32$22.10B$24.55B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$83.3M$83.3M
Grants to domestic individualsLn 2$479.4M$479.4M
Grants and assistance to foreign recipientsLn 3$14.3M$14.3M
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$11.3M$2.7M$8.0M$640K
Pay of disqualified personsLn 6$0$0$0$0
Other salaries and wagesLn 7$812.0M$682.1M$89.9M$40.0M
Pension plan contributionsLn 8$60.0M$48.3M$8.2M$3.5M
Other employee benefitsLn 9$129.1M$103.0M$19.0M$7.1M
Payroll taxesLn 10$48.1M$39.2M$6.0M$2.9M
Management feesLn 11a$0$0$0$0
Legal feesLn 11b$14.5M$10.7M$3.8M$0
Accounting feesLn 11c$1.9M$281K$1.5M$44K
Lobbying feesLn 11d$283K$0$283K$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$19.2M$0$19.2M$0
Other fees for servicesLn 11g$53.6M$42.1M$10.6M$873K
Advertising and promotionLn 12$5.7M$5.3M$295K$100K
Office expensesLn 13$84.9M$70.7M$11.1M$3.2M
Information technologyLn 14$39.4M$24.1M$14.0M$1.3M
RoyaltiesLn 15$847K$807K$40K$0
OccupancyLn 16$96.3M$84.1M$9.8M$2.4M
TravelLn 17$79.1M$69.6M$4.8M$4.7M
Travel and entertainment for public officialsLn 18$111K$111K$0$0
Conferences, conventions and meetingsLn 19$6.1M$4.9M$1.2M$51K
InterestLn 20$49.3M$40.6M$6.4M$2.2M
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$114.4M$110.0M$4.2M$234K
InsuranceLn 23$2.3M$847K$1.5M$0
Other expenses (24a–d)Ln 24$126.2M$67.8M$55.7M$2.7M
All other expensesLn 24e$38.5M$24.3M$9.0M$5.2M
Total functional expensesLn 25$2.37B$2.01B$284.6M$77.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $3.4B$2.4B$1.0B$24.5B 990 PDF
FY2024 $3.3B$2.2B$1.2B$22.1B 990 PDF
FY2023 $2.6B$2.0B$544.2M$20.3B 990 PDF
FY2022 $3.5B$1.9B$1.6B$20.1B 990 PDF
FY2021 $3.5B$1.7B$1.8B$21.5B 990 PDF
FY2020 $2.5B$1.7B$829.3M$14.5B 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 F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $3,418,676,076 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $791,068,551$698,255,626
I-9 Program service revenuePrior year $1,247,538,675$1,314,818,950
I-10 Investment incomePrior year $1,190,260,660$1,389,430,059
I-11 Other revenuePrior year $93,265,988$16,171,441
I-12 Total revenuePrior year $3,322,133,874$3,418,676,076
I-13 Grants and similar amounts paidPrior year $514,338,915$576,974,727
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $994,151,285$1,060,588,723
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $660,420,413$732,676,751
I-18 Total expensesPrior year $2,168,910,613$2,370,240,201
I-19 Revenue less expensesPrior year $1,153,223,261$1,048,435,875
Part VI · Governance 35 of 39 board members independent, 1 to look at
VI-1a Voting members of the governing body39
VI-1b Independent voting members35
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 $3,418,676,076 across 16 lines filed
Lines not itemized here account for $12,855,755 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$1,117,487
VIII-1d Related organizations$0
VIII-1e Government grants$142,435,266
VIII-1f All other contributions, gifts and grants$554,702,873
VIII-1g Noncash contributions (included above)$168,207,122
VIII-1h Total contributions, gifts and grants$698,255,626
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,287,277,970 · Unrelated business $19,260,690 · Excluded from tax $0$1,306,538,660
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $27,209,434 · Excluded from tax $267,463,023$294,672,457
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,944,696$2,944,696
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax −$947,811−$947,811
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,094,757,602$1,094,757,602
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax −$777,407−$777,407
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,901,579 · Unrelated business $514,016 · Excluded from tax $4,960,903$10,376,498
VIII-12 Total revenueRelated to mission $1,304,350,725 · Unrelated business $47,638,096 · Excluded from tax $1,368,431,629$3,418,676,076
Part IX · Statement of functional expenses $2,370,240,201 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $83,274,631$83,274,631
IX-2 Grants to domestic individualsPrograms $479,427,068$479,427,068
IX-3 Grants and assistance to foreign recipientsPrograms $14,273,028$14,273,028
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $2,666,689 · Management $8,013,843 · Fundraising $640,478$11,321,010
IX-6 Pay of disqualified personsPrograms $0 · Management $0 · Fundraising $0$0
IX-7 Other salaries and wagesPrograms $682,054,308 · Management $89,946,685 · Fundraising $40,014,896$812,015,889
IX-8 Pension plan contributionsPrograms $48,264,358 · Management $8,212,245 · Fundraising $3,530,592$60,007,195
IX-9 Other employee benefitsPrograms $103,000,672 · Management $18,981,805 · Fundraising $7,143,189$129,125,666
IX-10 Payroll taxesPrograms $39,216,383 · Management $6,007,293 · Fundraising $2,895,287$48,118,963
IX-11a Management feesPrograms $0 · Management $0 · Fundraising $0$0
IX-11b Legal feesPrograms $10,708,961 · Management $3,821,766 · Fundraising $0$14,530,727
IX-11c Accounting feesPrograms $280,795 · Management $1,540,881 · Fundraising $44,103$1,865,779
IX-11d Lobbying feesPrograms $0 · Management $282,682 · Fundraising $0$282,682
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $19,194,339 · Fundraising $0$19,194,339
IX-11g Other fees for servicesPrograms $42,079,458 · Management $10,639,307 · Fundraising $873,487$53,592,252
IX-12 Advertising and promotionPrograms $5,278,210 · Management $295,032 · Fundraising $100,414$5,673,656
IX-13 Office expensesPrograms $70,711,004 · Management $11,052,224 · Fundraising $3,176,940$84,940,168
IX-14 Information technologyPrograms $24,087,912 · Management $13,958,553 · Fundraising $1,347,739$39,394,204
IX-15 RoyaltiesPrograms $807,088 · Management $39,965 · Fundraising $0$847,053
IX-16 OccupancyPrograms $84,120,637 · Management $9,798,552 · Fundraising $2,363,738$96,282,927
IX-17 TravelPrograms $69,639,340 · Management $4,783,872 · Fundraising $4,653,776$79,076,988
IX-18 Travel and entertainment for public officialsPrograms $110,867 · Management $0 · Fundraising $0$110,867
IX-19 Conferences, conventions and meetingsPrograms $4,914,952 · Management $1,182,910 · Fundraising $50,628$6,148,490
IX-20 InterestPrograms $40,631,698 · Management $6,434,593 · Fundraising $2,221,689$49,287,980
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $110,015,970 · Management $4,182,873 · Fundraising $234,018$114,432,861
IX-23 InsurancePrograms $846,923 · Management $1,501,117 · Fundraising $0$2,348,040
IX-24 Other expenses (24a–d)Programs $67,795,488 · Management $55,738,900 · Fundraising $2,674,183$126,208,571
IX-24e All other expensesPrograms $24,269,163 · Management $8,993,097 · Fundraising $5,196,907$38,459,167
IX-25 Total functional expensesPrograms $2,008,475,603 · Management $284,602,534 · Fundraising $77,162,064$2,370,240,201
Part X · Balance sheet $29,638,395,911 assets, 23 lines filed
Asset lines not itemized here account for $10,675,162; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $119,215,061$137,110,181
X-3 Pledges and grants receivableStart of year $596,763,205$626,274,510
X-4 Accounts receivableStart of year $100,355,647$96,745,919
X-8 Inventories for sale or useStart of year $4,880,613$5,692,892
X-9 Prepaid expenses and deferred chargesStart of year $37,144,022$30,550,937
X-10c Land, buildings and equipment, netStart of year $2,740,086,139$2,822,785,854
X-11 Publicly traded securitiesStart of year $4,904,504,980$6,220,522,237
X-12 Other securitiesStart of year $18,114,228,165$19,597,723,746
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $57,345,894$90,314,473
X-16 Total assetsStart of year $26,690,008,945$29,638,395,911
X-17 Accounts payable and accrued expensesStart of year $229,276,869$258,154,345
X-18 Grants payableStart of year $7,800,000$2,100,000
X-19 Deferred revenueStart of year $207,764,667$225,276,552
X-20 Tax-exempt bond liabilitiesStart of year $7,890,000$7,890,000
X-24 Unsecured notes and loans payableStart of year $1,215,000,000$1,215,000,000
X-25 Other liabilitiesStart of year $2,886,540,008$3,382,668,274
X-26 Total liabilitiesStart of year $4,592,629,313$5,091,089,171
X-27 Net assets without donor restrictionsStart of year $10,358,727,975$11,505,843,109
X-28 Net assets with donor restrictionsStart of year $11,738,651,657$13,041,463,631
X-32 Total net assets or fund balancesStart of year $22,097,379,632$24,547,306,740
X-33 Total liabilities and net assetsStart of year $26,690,008,945$29,638,395,911
Part XI · Reconciliation of net assets $24,547,306,740 net assets at year end
XI-1 Total revenue$3,418,676,076
XI-2 Total expenses$2,370,240,201
XI-3 Revenue less expenses$1,048,435,875
XI-4 Net assets at start of year$22,097,379,632
XI-5 Net unrealized gains (losses) on investments$1,338,020,524
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$63,470,709
XI-10 Net assets at end of year$24,547,306,740

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

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