Northwestern is committed to excellent teaching, innovative research and the personal and intellectual growth of its students in a diverse academic community.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Run by 143 volunteers and 28,548 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
4 of 6
filings with a surplus
Average surplus $186.1M a year · 5% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$36.3M
to officers and key staff · 0.8% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $15.28B in investments, Pt X · Ln 11–13
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
52
named funders · $8.3M
Looks good: 52 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$4.5B
22% of total assets
Looks good: liabilities are 22% of assets; 50% or less.
Pt X · Ln 26
Independent board members
36
of 36 voting members
Looks good: 36 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
$4.1B
-3% vs prior year
Spent
$4.3B
To programs
92%
Net assets
$16.2B
By yearFY2020–FY2025
Revenue
$4.1B
FY2025▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.1B
FY2021$3.7B
FY2022$4.0B
FY2023$3.3B
FY2024$4.2B
FY2025$4.1B
Expenses
$4.3B
FY2025▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.0B
FY2021$3.0B
FY2022$3.3B
FY2023$3.7B
FY2024$3.9B
FY2025$4.3B
Net assets
$16.2B
FY2025▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2020$12.5B
FY2021$16.1B
FY2022$15.4B
FY2023$14.9B
FY2024$15.6B
FY2025$16.2B

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

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 1945.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $3.9B Management & general 7% · $290.7M Fundraising 2% · $67.7M

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

71 people listed on the 990; $36.3M 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 Men's Basketball Coach
$3,894,564Pt VII · Sec A
Head Football Coach
$3,040,151Pt VII · Sec A
VP & Chief Investment Officer
$2,382,911Pt VII · Sec A
Professor-Kellogg
$2,262,619Pt VII · Sec A
Combe Family Vice President for Athletics and Recreation
$2,224,996Pt VII · Sec A
FMR President/President Emeritus
$1,958,594Pt VII · Sec A
$1,478,846Pt VII · Sec A
Professor-Chemistry
$1,406,345Pt VII · Sec A

Christopher Ryan Collins’s $3.9M as Head Men's Basketball Coach is at the 71st percentile of top reported officer pay among 21 $100M+ recreation & sports 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
Patrick William Fitzgerald II—$4,101,287$5,981,310$5,863,035——
Patrick W Fitzgerald II————$5,303,231$5,687,201
Morton O Schapiro$1,958,594$1,802,546$4,573,337$2,222,805$1,647,490$1,710,877
Christopher Ryan Collins$3,894,564$3,725,659$3,186,719$3,070,425——
Christopher R Collins————$2,826,700$3,201,770
David Braun$3,040,151—————
Chad a Mirkin$1,406,345$1,305,577—$3,029,210—$1,255,388
Mohanbir S Sawhney$2,262,619$2,278,357$2,365,991$2,430,051$1,538,960—

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Provides education and research, plus housing, food, and other services to support university students, faculty, and staff.

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Provided by the organization

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3 programs · $3.9B · in their own filed words · FY2024
01

Education of Students

For the 2025 academic year, 8,961 undergraduates and 11,228 graduates and professional school students enrolled full-time at the university. The exempt purpose of northwestern university is to provide educational services to its students.

$3.0Bprogram expense
02

Research Activities

The research program at northwestern university is a major component of university efforts, assuring institutional leadership in scientific discovery, intellectual inquiry, and creative performance. The character of this research shapes all areas of university endeavor, especially graduate education as well as undergraduate studies.

$725.8Mprogram expense
03

Auxiliary enterprises serve the educational mission by primarily providing residences and food services, and other various goods and services to support university student, faculty, and staff activities.

$220.6Mprogram 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 52 funders →
Grants paid · 2,000 grants · $3.9B · 2019–2024
Unitemized GrantFY2024$626,846,498
University of ChicagoIL · FY2024$5,530,913
University of PittsburghPA · FY2024$3,075,791
City of EvanstonFY2024$3,010,808
Washington UniversityMO · FY2024$2,570,878
Johns Hopkins UniversityMD · FY2024$2,532,796
Mass General Brigham IncorporatedMA · FY2024$2,506,706
University of MinnesotaFY2024$2,323,775
Illinois Institute of TechnologyIL · FY2024$2,273,532
Yale UniversityCT · FY2024$2,172,814
Cornell UniversityNY · FY2024$2,097,744
University of Wisconsin-MadisonFY2024$2,045,610
University of Louisiana at LafayetteFY2024$1,729,274
See all 2,000 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$4.1B
Ln 12
Fees for servicesLn 2g$2.9B
Investment incomeLn 3$594.2M
Gifts and grantsLn 1h$497.3M
Money outPt IX
$4.3B
Ln 25
Programscol B$3.9B
Managementcol C$290.7M
Fundraisingcol D$67.7M
Owns and owesPt X
$16.2B
net assets · Ln 32
Cash and savingsLn 1–2$877.6M
Total assetsLn 16$20.8B
LiabilitiesLn 26$4.5B
PeoplePt VI, VII
71
listed · VII A
PaidVII A34
Voting boardVI 1a36
IndependentVI 1b36
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$497.3M
Government grantsLn 1e$32.7M
Noncash giftsLn 1g$30.7M
Fundraising eventsLn 1c$1.9M
Fees for servicesLn 2g$2.9B
Investment incomeLn 3$594.2M
Other incomeLn 4–11$72.9M
Gains on assetsLn 7$521.1M
Total revenueLn 12$4.1B
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$877.6M
Cash and savings togetherLn 1–2$877.6M
InvestmentsLn 11–13$15.28B
Land, buildings, equipmentLn 10c$3.75B
Other assetsLn 15$130.4M
Total assetsLn 16$20.8B
LiabilitiesLn 26$4.5B
Net assetsLn 32$16.2B
OperationsPt I, VI
EmployeesI 528,548
VolunteersI 6143
Fiscal year endsHeaderAugust
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$796.1M$877.6M
InvestmentsLn 11–13$14.36B$15.28B
Land, buildings, equipmentLn 10c$3.30B$3.75B
Total assetsLn 16$19.22B$20.79B
LiabilitiesLn 26$3.59B$4.55B
Net assetsLn 32$15.63B$16.24B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$134.2M$134.2M
Grants to domestic individualsLn 2$627.5M$627.5M
Grants and assistance to foreign recipientsLn 3$18.6M$18.6M
Pay of current officers, directors and key staffLn 5$23.9M$9.2M$13.7M$1.0M
Pay of disqualified personsLn 6$913K$913K
Other salaries and wagesLn 7$1.53B$1.45B$43.9M$40.7M
Pension plan contributionsLn 8$120.0M$112.8M$3.9M$3.3M
Other employee benefitsLn 9$222.4M$209.0M$7.3M$6.1M
Payroll taxesLn 10$99.0M$93.0M$3.3M$2.7M
Legal feesLn 11b$41.3M$41.3M
Accounting feesLn 11c$2.0M$2.0M
Lobbying feesLn 11d$969K$969K
Professional fundraising feesLn 11e$117K$117K
Investment management feesLn 11f$41.3M$41.3M
Other fees for servicesLn 11g$327.5M$319.1M$6.0M$2.4M
Advertising and promotionLn 12$15.7M$8.9M$1.9M$4.9M
Office expensesLn 13$178.2M$175.6M$1.2M$1.5M
Information technologyLn 14$56.7M$53.1M$2.8M$778K
RoyaltiesLn 15$5.9M$5.9M
OccupancyLn 16$116.9M$108.9M$7.6M$472K
TravelLn 17$72.4M$70.1M$490K$1.8M
Conferences, conventions and meetingsLn 19$49.6M$48.6M$452K$582K
InterestLn 20$99.5M$99.5M
Depreciation, depletion and amortizationLn 22$216.7M$204.4M$10.9M$1.4M
InsuranceLn 23$101.1M$101.1M
Other expenses (24a–d)Ln 24$161.2M$161.2M
All other expensesLn 24e$23.0M$21.8M$1.2M$0
Total functional expensesLn 25$4.29B$3.93B$290.7M$67.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $4.1B$4.3B−$231.9M$16.2B 990 PDF
FY2024 $4.2B$3.9B$243.8M$15.6B 990 PDF
FY2023 $3.3B$3.7B−$336.6M$14.9B 990 PDF
FY2022 $4.0B$3.3B$666.2M$15.4B 990 PDF
FY2021 $3.7B$3.0B$647.7M$16.1B 990 PDF
FY2020 $3.1B$3.0B$127.3M$12.5B 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 $4,056,663,344 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $500,396,039$497,344,598
I-9 Program service revenuePrior year $2,779,764,340$2,892,201,748
I-10 Investment incomePrior year $839,983,033$594,248,436
I-11 Other revenuePrior year $57,607,358$72,868,562
I-12 Total revenuePrior year $4,177,750,770$4,056,663,344
I-13 Grants and similar amounts paidPrior year $749,377,157$780,323,456
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $1,832,098,020$1,997,950,859
I-16a Professional fundraising feesPrior year $140,765$117,208
I-17 Other expensesPrior year $1,352,382,557$1,510,178,416
I-18 Total expensesPrior year $3,933,998,499$4,288,569,939
I-19 Revenue less expensesPrior year $243,752,271−$231,906,595
Part VI · Governance 36 of 36 board members independent, 1 to look at
VI-1a Voting members of the governing body36
VI-1b Independent voting members36
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 $4,056,663,344 across 16 lines filed
Lines not itemized here account for $14,434,444 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$1,917,596
VIII-1d Related organizations$0
VIII-1e Government grants$32,749,789
VIII-1f All other contributions, gifts and grants$462,677,213
VIII-1g Noncash contributions (included above)$30,724,415
VIII-1h Total contributions, gifts and grants$497,344,598
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,878,699,626$2,878,699,626
VIII-3 Investment incomeRelated to mission $9,572,095 · Excluded from tax $63,623,445$73,195,540
VIII-5 RoyaltiesUnrelated business $5,296,652 · Excluded from tax $13,162,517$18,459,169
VIII-6 Net rental income or lossUnrelated business $743,077 · Excluded from tax $301,902$1,044,979
VIII-7 Net gain or loss on sales of assetsRelated to mission −$1,257,877 · Excluded from tax $522,310,773$521,052,896
VIII-8 Net income from fundraising eventsExcluded from tax −$45,135−$45,135
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Unrelated business $52,477,227$52,477,227
VIII-12 Total revenueRelated to mission $2,900,515,966 · Unrelated business $59,449,278 · Excluded from tax $599,353,502$4,056,663,344
Part IX · Statement of functional expenses $4,288,569,939 across 27 lines filed
IX-1 Grants to domestic organizationsPrograms $134,243,879$134,243,879
IX-2 Grants to domestic individualsPrograms $627,476,805$627,476,805
IX-3 Grants and assistance to foreign recipientsPrograms $18,602,772$18,602,772
IX-5 Pay of current officers, directors and key staffPrograms $9,176,214 · Management $13,711,214 · Fundraising $1,014,210$23,901,638
IX-6 Pay of disqualified personsManagement $912,594$912,594
IX-7 Other salaries and wagesPrograms $1,447,126,757 · Management $43,917,661 · Fundraising $40,663,988$1,531,708,406
IX-8 Pension plan contributionsPrograms $112,752,196 · Management $3,946,992 · Fundraising $3,282,462$119,981,650
IX-9 Other employee benefitsPrograms $209,010,061 · Management $7,331,454 · Fundraising $6,097,103$222,438,618
IX-10 Payroll taxesPrograms $93,042,262 · Management $3,257,028 · Fundraising $2,708,663$99,007,953
IX-11b Legal feesManagement $41,345,468$41,345,468
IX-11c Accounting feesManagement $2,038,687$2,038,687
IX-11d Lobbying feesManagement $969,073$969,073
IX-11e Professional fundraising feesFundraising $117,208$117,208
IX-11f Investment management feesManagement $41,284,710$41,284,710
IX-11g Other fees for servicesPrograms $319,074,263 · Management $6,024,142 · Fundraising $2,399,311$327,497,716
IX-12 Advertising and promotionPrograms $8,892,872 · Management $1,901,379 · Fundraising $4,918,355$15,712,606
IX-13 Office expensesPrograms $175,567,025 · Management $1,203,632 · Fundraising $1,472,958$178,243,615
IX-14 Information technologyPrograms $53,122,585 · Management $2,762,885 · Fundraising $777,925$56,663,395
IX-15 RoyaltiesPrograms $5,930,937$5,930,937
IX-16 OccupancyPrograms $108,850,115 · Management $7,559,524 · Fundraising $472,394$116,882,033
IX-17 TravelPrograms $70,059,584 · Management $489,893 · Fundraising $1,849,471$72,398,948
IX-19 Conferences, conventions and meetingsPrograms $48,603,811 · Management $452,312 · Fundraising $582,124$49,638,247
IX-20 InterestManagement $99,478,341$99,478,341
IX-22 Depreciation, depletion and amortizationPrograms $204,420,181 · Management $10,918,058 · Fundraising $1,374,670$216,712,909
IX-23 InsurancePrograms $101,139,505$101,139,505
IX-24 Other expenses (24a–d)Programs $161,215,294$161,215,294
IX-24e All other expensesPrograms $21,827,030 · Management $1,199,902 · Fundraising $0$23,026,932
IX-25 Total functional expensesPrograms $3,930,134,148 · Management $290,704,949 · Fundraising $67,730,842$4,288,569,939
Part X · Balance sheet $20,789,227,097 assets, 24 lines filed
Asset lines not itemized here account for $43,856,987; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $796,095,232$877,620,061
X-3 Pledges and grants receivableStart of year $187,422,488$200,456,793
X-4 Accounts receivableStart of year $332,068,582$500,859,145
X-8 Inventories for sale or useStart of year $921,819$1,104,147
X-9 Prepaid expenses and deferred chargesStart of year $4,408,951$2,526,353
X-10c Land, buildings and equipment, netStart of year $3,302,834,678$3,752,067,690
X-11 Publicly traded securitiesStart of year $1,004,302,134$927,992,884
X-12 Other securitiesStart of year $13,225,646,781$14,231,633,031
X-13 Program-related investmentsStart of year $129,971,597$120,698,641
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $158,535,033$130,411,365
X-16 Total assetsStart of year $19,217,819,256$20,789,227,097
X-17 Accounts payable and accrued expensesStart of year $279,243,605$595,189,436
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $455,424,624$424,549,911
X-20 Tax-exempt bond liabilitiesStart of year $379,138,592$454,654,554
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $2,392,751,601$2,973,109,135
X-26 Total liabilitiesStart of year $3,589,543,718$4,546,217,516
X-27 Net assets without donor restrictionsStart of year $9,489,563,666$9,593,931,537
X-28 Net assets with donor restrictionsStart of year $6,138,711,872$6,649,078,044
X-32 Total net assets or fund balancesStart of year $15,628,275,538$16,243,009,581
X-33 Total liabilities and net assetsStart of year $19,217,819,256$20,789,227,097
Part XI · Reconciliation of net assets $16,243,009,581 net assets at year end
XI-1 Total revenue$4,056,663,344
XI-2 Total expenses$4,288,569,939
XI-3 Revenue less expenses−$231,906,595
XI-4 Net assets at start of year$15,628,275,538
XI-5 Net unrealized gains (losses) on investments$846,640,938
XI-9 Other changes in net assets−$300
XI-10 Net assets at end of year$16,243,009,581

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

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