Emory University's mission is to create, preserve, teach, and apply knowledge in the service of humanity. (See Schedule O for continuation)

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 11,148 volunteers and 27,470 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
6 of 6
filings with a surplus
Average surplus $541.7M a year · 9% 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
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$39.5M
to officers and key staff · 0.5% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
8 mo
of spending, in cash
Looks good: 7.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
39
named funders · $12.9M
Looks good: 39 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$7.2B
29% of total assets
Looks good: liabilities are 29% of assets; 50% or less.
Pt X · Ln 26
Independent board members
34
of 37 voting members
Looks good: 34 of 37 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.9B
+8% vs prior year
Spent
$7.2B
To programs
94%
Net assets
$17.7B
By yearFY2020–FY2025
Revenue
$7.9B
FY2025▲ +8%
Tap a bar for its year
Revenue by fiscal year
FY2020$4.8B
FY2021$5.5B
FY2022$6.4B
FY2023$6.3B
FY2024$7.3B
FY2025$7.9B
Expenses
$7.2B
FY2025▲ +8%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.6B
FY2021$5.0B
FY2022$5.5B
FY2023$6.0B
FY2024$6.6B
FY2025$7.2B
Net assets
$17.7B
FY2025▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2020$11.5B
FY2021$14.6B
FY2022$14.3B
FY2023$14.7B
FY2024$16.0B
FY2025$17.7B

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 Jun 2011.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $6.7B Management & general 6% · $427.7M Fundraising 1% · $38.4M

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

93 people listed on the 990; $39.5M 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
VP, Chief Investment Officer
$4,230,635Pt VII · Sec A
See Schedule J, Part III
$3,732,635Pt VII · Sec A
See Schedule J, Part III
$3,123,175Pt VII · Sec A
Highly Compensated Employee
$2,460,002Pt VII · Sec A
$2,344,632Pt VII · Sec A
Former Officer
$1,905,796Pt VII · Sec A
SVP Adv & Alumni Engagement
$1,707,722Pt VII · Sec A
Chief Information and Digital Officer (ehc)
$1,571,907Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Srinivas Pulavarti$4,230,635$3,246,557$2,848,930$5,384,471$2,536,520$2,554,522
Ravi Thadhani MD Mph$3,732,635$5,080,604————
Christopher Augostini$3,123,175$2,848,733$1,505,588$1,336,595$1,141,416$1,024,719
Claire Sterk$375,295$365,630$357,426$1,318,751$2,640,975$1,173,805
George R Painter$2,460,002—————
Gregory Fenves$2,344,632$1,858,603$1,713,096$1,793,087$671,443—
Alistair Erskine MD Mbafamia$1,571,907$2,167,983————
Matthew Alan Werner———$1,911,158——

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

Advances human health and knowledge through world-class higher education, cutting-edge research, and comprehensive, top-ranked clinical patient care.

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Provided by the organization

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3 programs · $6.7B · in their own filed words · FY2024
01

EMORY UNIVERSITY ("Emory "University") Emory University is a major research university that is privately endowed, coeducational and not-for-profit. With its nine colleges and schools, the University attracts top quality students from across the nation and abroad and has a current total enrollment of approximately 15,000 students.

$3.0Bprogram expense
02

EMORY UNIVERSITY HOSPITAL MIDTOWN Since 1908, Emory University Hospital Midtown has been an Atlanta teaching hospital offering a myriad of patient care, education and research initiatives. In 2025, Emory University Hospital Midtown was ranked nationally by U.S.

$2.0Bprogram expense
03

EMORY UNIVERSITY HOSPITAL Emory University Hospital is a teaching and research facility providing tertiary and quaternary care services, particularly cardiology, cardiac surgery, oncology, neurosciences, multiple organ and tissue transplantation, orthopaedics, geriatrics and endocrinology.

$1.7Bprogram 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 39 funders →
Grants paid · 2,174 grants · $3.2B · 2019–2024
Unitemized GrantFY2024$372,720,669
Emorysaint Joseph's INCGA · FY2024$18,820,255
Georgia Tech Research CorporationGA · FY2024$9,368,194
Orasure Technologies INCFY2024$5,675,220
Fred Hutchinson Cancer CenterWA · FY2024$4,027,574
University of WashingtonFY2024$3,959,815
Morehouse School of Medicine INCGA · FY2024$3,697,452
Family Health International INCNC · FY2024$3,043,332
Yale UniversityCT · FY2024$2,979,843
University of Alabama at BirminghamFY2024$2,402,375
See all 2,174 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$7.9B
Ln 12
Fees for servicesLn 2g$6.1B
Gifts and grantsLn 1h$1.2B
Investment incomeLn 3$512.9M
Money outPt IX
$7.2B
Ln 25
Programscol B$6.7B
Managementcol C$427.7M
Fundraisingcol D$38.4M
Owns and owesPt X
$17.7B
net assets · Ln 32
Cash and savingsLn 1–2$4.5B
Total assetsLn 16$24.9B
LiabilitiesLn 26$7.2B
PeoplePt VI, VII
93
listed · VII A
PaidVII A40
Voting boardVI 1a37
IndependentVI 1b34
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.2B
Government grantsLn 1e$1.04B
Noncash giftsLn 1g$48.8M
Fundraising eventsLn 1c$5.3M
Fees for servicesLn 2g$6.1B
Investment incomeLn 3$512.9M
Other incomeLn 4–11$64.0M
Gains on assetsLn 7$406.4M
Total revenueLn 12$7.9B
Assets in detailPt X, end of year
CashLn 1$0
SavingsLn 2$4.52B
Cash and savings togetherLn 1–2$4.5B
InvestmentsLn 11–13$14.30B
Land, buildings, equipmentLn 10c$3.74B
Other assetsLn 15$67.0M
Total assetsLn 16$24.9B
LiabilitiesLn 26$7.2B
Net assetsLn 32$17.7B
OperationsPt I, VI
EmployeesI 527,470
VolunteersI 611,148
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$3.15B$4.52B
InvestmentsLn 11–13$13.15B$14.30B
Land, buildings, equipmentLn 10c$3.82B$3.74B
Total assetsLn 16$22.21B$24.89B
LiabilitiesLn 26$6.20B$7.20B
Net assetsLn 32$16.01B$17.69B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$183.9M$183.9M
Grants to domestic individualsLn 2$373.1M$373.1M
Grants and assistance to foreign recipientsLn 3$29.2M$29.2M
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$55.2M$27.7M$25.7M$1.8M
Pay of disqualified personsLn 6$7.2M$4.6M$2.6M$0
Other salaries and wagesLn 7$2.57B$2.39B$156.3M$24.6M
Pension plan contributionsLn 8$193.3M$177.8M$13.5M$1.9M
Other employee benefitsLn 9$415.6M$382.4M$29.1M$4.2M
Payroll taxesLn 10$203.5M$187.2M$14.2M$2.0M
Management feesLn 11a$12.3M$0$12.3M$0
Legal feesLn 11b$12.4M$10.4M$1.9M$124K
Accounting feesLn 11c$1.9M$0$1.9M$0
Lobbying feesLn 11d$1.4M$0$1.4M$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$57.9M$0$57.9M$0
Other fees for servicesLn 11g$90.8M$50.8M$39.0M$908K
Advertising and promotionLn 12$4.5M$4.3M$225K$0
Office expensesLn 13$21.4M$21.0M$214K$214K
Information technologyLn 14$22.1M$17.9M$4.0M$221K
RoyaltiesLn 15$22K$22K$0$0
OccupancyLn 16$159.2M$140.1M$17.5M$1.6M
TravelLn 17$13.5M$11.3M$1.3M$807K
Travel and entertainment for public officialsLn 18$0$0$0$0
Conferences, conventions and meetingsLn 19$10.4M$10.4M$0$0
InterestLn 20$81.2M$77.1M$4.1M$0
Payments to affiliatesLn 21$0$0$0$0
Depreciation, depletion and amortizationLn 22$278.5M$267.4M$11.1M$0
InsuranceLn 23$41.7M$41.7M$0$0
Other expenses (24a–d)Ln 24$2.00B$1.96B$33.4M$0
All other expensesLn 24e$361.8M$361.7M$17K$0
Total functional expensesLn 25$7.20B$6.74B$427.7M$38.4M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $7.9B$7.2B$657.9M$17.7B 990 PDF
FY2024 $7.3B$6.6B$669.3M$16.0B 990 PDF
FY2023 $6.3B$6.0B$287.5M$14.7B 990 PDF
FY2022 $6.4B$5.5B$911.3M$14.3B 990 PDF
FY2021 $5.5B$5.0B$549.0M$14.6B 990 PDF
FY2020 $4.8B$4.6B$175.5M$11.5B 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $7,861,969,527 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,199,613,458$1,225,816,919
I-9 Program service revenuePrior year $5,305,481,342$6,059,293,564
I-10 Investment incomePrior year $763,936,395$512,855,353
I-11 Other revenuePrior year $41,937,420$64,003,691
I-12 Total revenuePrior year $7,310,968,615$7,861,969,527
I-13 Grants and similar amounts paidPrior year $636,544,761$586,214,166
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,141,116,405$3,449,244,513
I-16a Professional fundraising feesPrior year $1,271,799$0
I-17 Other expensesPrior year $2,862,755,189$3,168,563,402
I-18 Total expensesPrior year $6,641,688,154$7,204,022,081
I-19 Revenue less expensesPrior year $669,280,461$657,947,446
Part VI · Governance 34 of 37 board members independent, no flags
VI-1a Voting members of the governing body37
VI-1b Independent voting members34
VI-2 Family or business relationship among officers or directorsNo
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 $7,861,969,527 across 16 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$5,348,871
VIII-1d Related organizations$0
VIII-1e Government grants$1,036,695,264
VIII-1f All other contributions, gifts and grants$183,772,784
VIII-1g Noncash contributions (included above)$48,809,005
VIII-1h Total contributions, gifts and grants$1,225,816,919
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,047,027,475 · Unrelated business $12,266,089 · Excluded from tax $0$6,059,293,564
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $19,488,118 · Excluded from tax $86,957,087$106,445,205
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $14,038,438$14,038,438
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $21,388,929$21,388,929
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $406,410,148$406,410,148
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax −$819,889−$819,889
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $0 · Unrelated business $0 · Excluded from tax $29,396,213$29,396,213
VIII-12 Total revenueRelated to mission $6,047,027,475 · Unrelated business $31,754,207 · Excluded from tax $557,370,926$7,861,969,527
Part IX · Statement of functional expenses $7,204,022,081 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $183,897,727$183,897,727
IX-2 Grants to domestic individualsPrograms $373,072,367$373,072,367
IX-3 Grants and assistance to foreign recipientsPrograms $29,244,072$29,244,072
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $27,669,390 · Management $25,717,164 · Fundraising $1,805,318$55,191,872
IX-6 Pay of disqualified personsPrograms $4,554,396 · Management $2,599,233 · Fundraising $0$7,153,629
IX-7 Other salaries and wagesPrograms $2,393,609,948 · Management $156,257,907 · Fundraising $24,562,440$2,574,430,295
IX-8 Pension plan contributionsPrograms $177,844,958 · Management $13,531,682 · Fundraising $1,933,097$193,309,737
IX-9 Other employee benefitsPrograms $382,385,735 · Management $29,094,567 · Fundraising $4,156,367$415,636,669
IX-10 Payroll taxesPrograms $187,240,526 · Management $14,246,562 · Fundraising $2,035,223$203,522,311
IX-11a Management feesPrograms $0 · Management $12,347,956 · Fundraising $0$12,347,956
IX-11b Legal feesPrograms $10,417,674 · Management $1,860,299 · Fundraising $124,020$12,401,993
IX-11c Accounting feesPrograms $0 · Management $1,885,855 · Fundraising $0$1,885,855
IX-11d Lobbying feesPrograms $0 · Management $1,359,193 · Fundraising $0$1,359,193
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0 · Management $57,918,446 · Fundraising $0$57,918,446
IX-11g Other fees for servicesPrograms $50,834,060 · Management $39,033,297 · Fundraising $907,751$90,775,108
IX-12 Advertising and promotionPrograms $4,277,837 · Management $225,149 · Fundraising $0$4,502,986
IX-13 Office expensesPrograms $20,957,322 · Management $213,850 · Fundraising $213,850$21,385,022
IX-14 Information technologyPrograms $17,933,772 · Management $3,985,283 · Fundraising $221,405$22,140,460
IX-15 RoyaltiesPrograms $22,309 · Management $0 · Fundraising $0$22,309
IX-16 OccupancyPrograms $140,054,571 · Management $17,506,821 · Fundraising $1,591,529$159,152,921
IX-17 TravelPrograms $11,303,079 · Management $1,345,605 · Fundraising $807,363$13,456,047
IX-18 Travel and entertainment for public officialsPrograms $0 · Management $0 · Fundraising $0$0
IX-19 Conferences, conventions and meetingsPrograms $10,424,929 · Management $0 · Fundraising $0$10,424,929
IX-20 InterestPrograms $77,119,675 · Management $4,058,930 · Fundraising $0$81,178,605
IX-21 Payments to affiliatesPrograms $0 · Management $0 · Fundraising $0$0
IX-22 Depreciation, depletion and amortizationPrograms $267,381,971 · Management $11,140,915 · Fundraising $0$278,522,886
IX-23 InsurancePrograms $41,726,586 · Management $0 · Fundraising $0$41,726,586
IX-24 Other expenses (24a–d)Programs $1,964,235,544 · Management $33,367,255 · Fundraising $0$1,997,602,799
IX-24e All other expensesPrograms $361,742,150 · Management $17,151 · Fundraising $0$361,759,301
IX-25 Total functional expensesPrograms $6,737,950,598 · Management $427,713,120 · Fundraising $38,358,363$7,204,022,081
Part X · Balance sheet $24,888,450,281 assets, 24 lines filed
X-1 Cash, non-interest-bearingStart of year $0$0
X-2 Savings and temporary cash investmentsStart of year $3,149,748,001$4,520,708,811
X-3 Pledges and grants receivableStart of year $150,497,782$122,641,980
X-4 Accounts receivableStart of year $1,616,818,502$1,853,320,634
X-8 Inventories for sale or useStart of year $39,104,368$41,361,627
X-9 Prepaid expenses and deferred chargesStart of year $217,018,485$242,367,131
X-10c Land, buildings and equipment, netStart of year $3,818,929,041$3,742,572,035
X-11 Publicly traded securitiesStart of year $2,331,878,122$2,421,692,366
X-12 Other securitiesStart of year $10,801,242,364$11,859,861,978
X-13 Program-related investmentsStart of year $14,523,539$16,904,189
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $72,497,969$67,019,530
X-16 Total assetsStart of year $22,212,258,173$24,888,450,281
X-17 Accounts payable and accrued expensesStart of year $804,067,845$785,360,442
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $284,875,356$348,370,906
X-20 Tax-exempt bond liabilitiesStart of year $2,141,652,130$2,900,095,973
X-24 Unsecured notes and loans payableStart of year $1,162,626,813$1,267,916,837
X-25 Other liabilitiesStart of year $1,805,266,334$1,900,105,004
X-26 Total liabilitiesStart of year $6,198,488,478$7,201,849,162
X-27 Net assets without donor restrictionsStart of year $8,329,603,034$9,476,508,859
X-28 Net assets with donor restrictionsStart of year $7,684,166,661$8,210,092,260
X-32 Total net assets or fund balancesStart of year $16,013,769,695$17,686,601,119
X-33 Total liabilities and net assetsStart of year $22,212,258,173$24,888,450,281
Part XI · Reconciliation of net assets $17,686,601,119 net assets at year end
XI-1 Total revenue$7,861,969,527
XI-2 Total expenses$7,204,022,081
XI-3 Revenue less expenses$657,947,446
XI-4 Net assets at start of year$16,013,769,695
XI-5 Net unrealized gains (losses) on investments$804,355,733
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$210,528,245
XI-10 Net assets at end of year$17,686,601,119

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

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