Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1938.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
89 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
68 people listed on the 990; $4.2M paid to officers and key staff.
J Thomas Forbes’s $512K as President and CEO is at the 39th 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 |
|---|---|---|---|---|---|---|
| Daniel C Smith | — | — | — | — | $793,473 | $602,984 |
| James Bergstrom | $435,986 | $732,079 | $744,444 | $394,423 | $300,981 | $263,779 |
| D Abe Weldy | $440,746 | $736,336 | $743,871 | $394,790 | $305,835 | $268,307 |
| Gary Stratten | — | — | — | $516,774 | $516,594 | $449,441 |
| J Thomas Forbes | $511,589 | $484,788 | $466,490 | $353,167 | — | — |
| Richard Dupree | — | — | — | — | $480,245 | $340,457 |
| Scott Ryan | — | $412,808 | $325,500 | $209,785 | — | — |
| Joyce Q Rogers | $352,024 | $335,368 | $323,305 | $313,461 | — | — |
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
Programs and updates
Secures and manages private philanthropic donations to fund academic programs, student scholarships, and research initiatives at Indiana University.
Questions for Indiana University Foundation
Your first name shows with your question. Indiana University Foundation answers here, for everyone.
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Academic & Student Program Support
The IUF provided over $225 million to the University to support academic & student programs. These funds enable dedicated students to develop skills and knowledge for growth and success by offering high-quality, responsive academic and student programs by employing best practices in teaching and learning; adding to the accumulated body…
Faculty Support and Research
With approximately $80.5 million from IUF, University faculty and staff received additional support allowing for increased research opportunities and improved classroom experiences for all students.
Student Scholarship and Financial Aid Support
Indiana University undergraduate and graduate students received more than $75 million in scholarships, fellowships, and awards from private gift support. Students received scholarship support across all programs and units of the University.
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 | $158.6M | $144.1M |
| InvestmentsLn 11–13 | $3.93B | $4.19B |
| Land, buildings, equipmentLn 10c | $97.7M | $112.9M |
| Total assetsLn 16 | $4.44B | $4.67B |
| LiabilitiesLn 26 | $779.3M | $811.5M |
| Net assetsLn 32 | $3.66B | $3.86B |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $403.6M | $403.6M | ||
| Grants to domestic individualsLn 2 | $17K | $17K | ||
| Pay of current officers, directors and key staffLn 5 | $4.3M | $1.8M | $2.4M | |
| Other salaries and wagesLn 7 | $25.1M | $2.7M | $11.2M | $11.2M |
| Pension plan contributionsLn 8 | $3.0M | $942K | $2.1M | |
| Other employee benefitsLn 9 | $6.4M | $731K | $1.6M | $4.1M |
| Payroll taxesLn 10 | $2.1M | $650K | $1.4M | |
| Legal feesLn 11b | $187K | $97K | $71K | $19K |
| Accounting feesLn 11c | $2.7M | $265K | $1.3M | $1.2M |
| Investment management feesLn 11f | $34.8M | $34.8M | ||
| Other fees for servicesLn 11g | $894K | $287K | $437K | $170K |
| Office expensesLn 13 | $1.5M | $4K | $948K | $555K |
| Information technologyLn 14 | $2.8M | $18K | $863K | $1.9M |
| OccupancyLn 16 | $2.1M | $410K | $1.2M | $454K |
| TravelLn 17 | $1.8M | $285K | $522K | $971K |
| Conferences, conventions and meetingsLn 19 | $442K | $5 | $260K | $182K |
| InterestLn 20 | $4.6M | $323K | $3.1M | $1.2M |
| Depreciation, depletion and amortizationLn 22 | $4.1M | $3.3M | $563K | $219K |
| InsuranceLn 23 | $543K | $226K | $226K | $90K |
| Other expenses (24a–d)Ln 24 | $631K | $461K | $171K | |
| All other expensesLn 24e | $463K | $420K | $29K | $15K |
| Total functional expensesLn 25 | $501.9M | $447.4M | $26.2M | $28.4M |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $598.7M | $501.9M | $96.7M | $3.9B | 990 PDF |
| FY2024 | $447.8M | $281.6M | $166.2M | $3.7B | 990 PDF |
| FY2023 | $426.1M | $261.1M | $165.0M | $3.4B | 990 PDF |
| FY2022 | $496.9M | $389.8M | $107.1M | $3.4B | 990 PDF |
| FY2021 | $362.9M | $231.2M | $131.7M | $3.5B | 990 PDF |
| FY2020 | $228.5M | $238.3M | −$9.8M | $2.7B | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $598,652,224 revenue, 12 lines filed
Part VI · Governance 48 of 49 board members independent, no flags
Part VIII · Statement of revenue $598,652,224 across 10 lines filed
Part IX · Statement of functional expenses $501,934,877 across 21 lines filed
Part X · Balance sheet $4,668,012,589 assets, 16 lines filed
Part XI · Reconciliation of net assets $3,856,510,292 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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