Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1931.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
57 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
30 people listed on the 990; $3.9M paid to officers and key staff.
David Cooper’s $560K as Chief Investment Officer is at the 47th 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
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| David Cooper | $560,139 | $477,705 | $529,011 | $406,252 | $349,199 | $287,295 |
| David Broecker | $551,795 | $333,294 | $437,980 | $412,220 | $385,770 | $230,399 |
| Michelle Giuda | $545,747 | $533,351 | — | — | — | — |
| Matthew Folk | $449,817 | $493,561 | $426,106 | $357,424 | $250,278 | — |
| Bonnie Glick | — | — | $460,444 | — | — | — |
| Lee Rubenstein | $430,633 | — | — | — | — | — |
| Chad Pittman | — | — | — | — | — | $405,089 |
| Scott Seidle | $387,836 | $374,128 | $364,456 | $358,063 | $352,158 | $322,318 |
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 Purdue Research Foundation executive salaries →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
Supports Purdue University by managing its intellectual property, funding research, acquiring endowments, and developing land to foster scientific and educational innovation.
Questions for Purdue Research Foundation
Your first name shows with your question. Purdue Research Foundation answers here, for everyone.
Purdue Research Foundation (the Foundation) was created in 1930. The primary purpose of the Foundation is to promote the educational purpose of Purdue University (the University); seek, acquire, manage gifts, bequests and endowments; make funding available to faculty, staff, and students to aid in scientific investigation, research or…
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|
| End of yearLn 1g | $916.6M | $896.3M | $988.8M | $727.6M | $762.4M |
| Given inLn 1b | $10.8M | $5.3M | $12.7M | $8.3M | $8.0M |
| SpentLn 1d–1f | $39.9M | $36.7M | $54.7M | $43.3M | $37.0M |
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $25.5M | $21.8M |
| InvestmentsLn 11–13 | $3.81B | $4.05B |
| Land, buildings, equipmentLn 10c | $202.2M | $212.1M |
| Total assetsLn 16 | $4.14B | $4.44B |
| LiabilitiesLn 26 | $2.84B | $3.14B |
| Net assetsLn 32 | $1.31B | $1.30B |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $52.5M | $52.5M | ||
| Pay of current officers, directors and key staffLn 5 | $2.1M | $515K | $1.3M | $206K |
| Other salaries and wagesLn 7 | $36.3M | $4.3M | $10.0M | $21.9M |
| Pension plan contributionsLn 8 | $3.8M | $429K | $1.0M | $2.4M |
| Other employee benefitsLn 9 | $4.4M | $371K | $1.1M | $2.9M |
| Payroll taxesLn 10 | $2.7M | $299K | $682K | $1.7M |
| Legal feesLn 11b | $4.1M | $4.1M | ||
| Accounting feesLn 11c | $345K | $345K | ||
| Investment management feesLn 11f | $470K | $470K | ||
| Other fees for servicesLn 11g | $7.6M | $7K | $7.6M | $0 |
| Advertising and promotionLn 12 | $3.6M | $6K | $1.9M | $1.6M |
| Office expensesLn 13 | $1.3M | $58K | $421K | $781K |
| Information technologyLn 14 | $1.7M | $34K | $224K | $1.4M |
| RoyaltiesLn 15 | $19.5M | $19.5M | ||
| OccupancyLn 16 | $8.4M | $7.2M | $897K | $379K |
| TravelLn 17 | $2.5M | $54K | $1.4M | $1.0M |
| Conferences, conventions and meetingsLn 19 | $7.3M | $32K | $4.6M | $2.6M |
| InterestLn 20 | $6.1M | $6.1M | ||
| Depreciation, depletion and amortizationLn 22 | $6.8M | $6.7M | $14K | |
| InsuranceLn 23 | $24K | $12K | $12K | |
| Other expenses (24a–d)Ln 24 | $21.5M | $11.9M | $9.1M | $467K |
| All other expensesLn 24e | $6.4M | $2.8M | $2.0M | $1.6M |
| Total functional expensesLn 25 | $199.2M | $112.8M | $47.4M | $39.0M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Apr 30, 2026 | $235.3M | $196.2M | $39.1M | $1.5B | 990 PDF |
| FY2024Filed with the IRS May 12, 2025 | $322.8M | $335.6M | −$12.9M | $1.4B | 990 PDF |
| FY2023 ViewingFiled with the IRS May 2, 2024 | $169.4M | $199.2M | −$29.7M | $1.3B | 990 PDF |
| FY2022Filed with the IRS May 11, 2023 | $255.7M | $157.8M | $97.9M | $1.3B | 990 PDF |
| FY2021Filed with the IRS May 4, 2022 | $243.9M | $138.5M | $105.4M | $1.3B | 990 PDF |
| FY2020Filed with the IRS May 10, 2021 | $183.2M | $153.9M | $29.2M | $1.0B | 990 PDF |
Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $169,421,704 revenue, 12 lines filed
Part VI · Governance 16 of 16 board members independent, 1 to look at
Part VIII · Statement of revenue $169,421,704 across 10 lines filed
Part IX · Statement of functional expenses $199,166,269 across 22 lines filed
Part X · Balance sheet $4,439,087,595 assets, 23 lines filed
Part XI · Reconciliation of net assets $1,300,044,603 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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