Emory University EIN 58-0566256

Emory University

EIN  58-0566256 Higher education institution Atlanta, GA Founded 1915
Form 990 (PDF) Compare with another nonprofit →
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Size
$100M+
What they do
Advances human health and knowledge through world-class higher education, cutting-edge research, and comprehensive, top-ranked clinical patient care.
Leadership
Srinivas Pulavarti · VP, Chief Investment Officer · $4.2M
Money in and out
$7.9B revenue, $7.2B expenses
Bottom line
+8% operating surplus

Advances human health and knowledge through world-class higher education, cutting-edge research, and comprehensive, top-ranked clinical patient care. For fiscal year 2024 it reported $7.9B in revenue, $7.2B in expenses, and $17.7B in net assets.Pt I

Financial scale & money flow · FY2024
Total revenue
$7.9B
Pt VIII · Ln 12
Total expenses
$7.2B
Pt IX · Ln 25
Net assets
$17.7B
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $657.9M
Where spending went · Part IX cols B–D
Program services $0.94 Management & general $0.06 Fundraising $0.01
Operating surplus
+8%
revenue over expenses, this legal entity▼ -9% vs prior filing year
Payroll share
48%
of this entity's spending is salaries & benefits▲ +1% vs prior filing year
Program spending
94%
of expenses reach program services0% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$7.9B
FY2024▲ +8%
Expenses
$7.2B
FY2024▲ +8%
Total assets
$24.9B
FY2024▲ +12%
Total liabilities
$7.2B
FY2024▲ +16%
Total revenue
$7.9B
Pt VIII · Ln 12
Total expenses
$7.2B
Pt IX · Ln 25
Net assets
$17.7B
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$657.9M
Total assetsPt X · Ln 16$24.9B
Program-expense ratioPt IX · col B94%
Voting members of governing bodyPt I · Ln 337
Independent voting membersPt I · Ln 434
Mission & Programs · Part III

Where the work happens

3 program services account for $6.7B of program spending, described in the organization's 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

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CEmory University
EINHdr · item D58-0566256
Principal addressHdr · item CAtlanta, GA
WebsiteHdr · item Jwww.emory.edu
Year of formationHdr · item L1915
State of legal domicileHdr · item MGA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFColleges & Universities (B430)
Ruling yearIRS BMFJun 2011

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a37
Independent voting membersPt VI · Ln 1b34
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
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

NameFY2024FY2024FY2023FY2022FY2021FY2020
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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Statement of Revenue

Part VIII
Program service revenue$6.1B · 77%
Contributions & grants$1.2B · 16%
Investment income$512.9M · 7%
Other revenue$64.0M · 1%
Program service revenue77%$6.1B
Contributions & grants16%$1.2B
Investment income7%$512.9M
Other revenue1%$64.0M
— government grantsLn 1e$1.0B
Total revenueLn 12$7.9B

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.94 Management & general $0.06 Fundraising $0.01
Program services94%$6.7B
Management & general6%$427.7M
Fundraising1%$38.4M
Total functional expensesLn 25$7.2B

Balance Sheet

Part X · end of year
CashLn 1$4.5B
Total assetsLn 16$24.9B
Total liabilitiesLn 26$7.2B
Total net assetsLn 32$17.7B
Months of cash on handcomputed7.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $18.8B · Operating expenses (Pt IX) $7.2B · Less non-cash grants $48.8M · Cash operating expenses/yr $7.2B
31.5 months
Where the money goes
Program services
Program services $6.7B · Total expenses $7.2B
94%
Management & General
Management & general $427.7M · Total expenses $7.2B
6%
Fundraising
Fundraising $38.4M · Total expenses $7.2B
1%
Cost to raise $1
Fundraising expense (3-yr avg) $35.8M · Solicited contributions (3-yr avg) $191.4M
$0.19 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.2B · Total revenue $7.9B
16%
Government reliance
Government grants $1.0B · Total revenue $7.9B
13%
Earned-income share
Program service revenue $6.1B · Total revenue $7.9B
77%
Investment reliance
Investment income $512.9M · Total revenue $7.9B
+7%
Program self-sufficiency
Program service revenue $6.1B · Total expenses $7.2B
84%
Growth & trend
Revenue growth (YoY)
This year $7.9B · Prior year $7.3B
+8%
Revenue CAGR
FY2019 $4.8B · FY2024 $7.9B
+11%
Net-asset trend (YoY)
End of year $17.7B · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $7.9B · Expenses $7.2B
+8%
Liabilities-to-Assets
Total liabilities — · Total assets $24.9B
Net-asset ratio
Net assets $17.7B · Total assets $24.9B
71%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $2.4B · Other securities (Pt X, ln 12) $11.9B · Total assets (Pt X, ln 16) $24.9B
57%
People & payroll
Highest Reported Total Compensation
Individual Srinivas Pulavarti · Reported title VP, Chief Investment Officer · Highest reported compensation $4.2M · Total expenses $7.2B
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $3.4B · Total expenses $7.2B
48%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 94%
Overhead ratio 6%
Fundraising cost ratio 3%
Revenue growth 8%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 30 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 InternationalNC · FY2024$3,043,332
Yale UniversityCT · FY2024$2,979,843
University of Alabama at BirminghamFY2024$2,402,375
See all 2,174 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024$7.3B revenue · ⤓ 990 PDF
FY2023$6.3B revenue · ⤓ 990 PDF
FY2022$6.4B revenue · ⤓ 990 PDF
FY2021$5.5B revenue · ⤓ 990 PDF
FY2020$4.8B revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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