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.
93¢ of each $1 spent went to programs.
$18.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · 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
93%
of spending
Looks good: 93% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$18.5M
to officers and key staff · 0.4% of spending
Looks good: pay to officers and key staff is 0% of spending; 15% or less.
Pt VII · Sec A
6 mo
of spending, in cash
Plus $13.00B in investments, Pt X · Ln 11–13
Looks good: 6.4 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
$5.7B
28% of total assets
Looks good: liabilities are 28% of assets; 50% or less.
Pt X · Ln 26
Independent board members
36
of 38 voting members
Looks good: 36 of 38 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$5.5B
+16% vs prior year
Spent
$5.0B
To programs
93%
Net assets
$14.6B
By yearFY2020–FY2025
Revenue
$5.5B
FY2021▲ +16%
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
$5.0B
FY2021▲ +9%
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
$14.6B
FY2021▲ +27%
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 FY2021 Form 990 (year ending August 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

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

93 cents of each dollar spent went to programs.

Program services 93% · $4.6B Management & general 6% · $314.6M Fundraising 1% · $26.8M

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

83 people listed on the 990; $18.5M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Former President
$2,640,975Pt VII · Sec A
Vp-Investments
$2,536,520Pt VII · Sec A
EVP - Business and Administration
$1,141,416Pt VII · Sec A
Former Provost/Exec VP, Academic Affairs
$773,624Pt VII · Sec A
See Schedule J, Part III
$769,854Pt VII · Sec A
Interim Provost/EVP Academic Affairs
$684,017Pt VII · Sec A
SR VP & General Counsel
$671,452Pt VII · Sec A
$671,443Pt 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II2 listed

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 · $4.6B · in their own filed words · FY2020
01

EMORY UNIVERSITY ("Emory" or "University") 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.

$2.3Bprogram expense
02

EMORY UNIVERSITY HOSPITAL MIDTOWN Since 1908, an Atlanta teaching hospital offering a myriad of patient care, education and research initiatives. In 2019, Emory University Hospital Midtown was ranked the fourth best hospital in Metro Atlanta and fifth in the state of Georgia by U.S. News and World Report.

$1.2Bprogram expense
03

EMORY UNIVERSITY HOSPITAL 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.

$1.1Bprogram 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 FY2021 990, line by line.

1The main four
Money inPt VIII
$5.5B
Ln 12
Fees for servicesLn 2g$4.0B
Gifts and grantsLn 1h$1.1B
Investment incomeLn 3$445.3M
Money outPt IX
$5.0B
Ln 25
Programscol B$4.6B
Managementcol C$314.6M
Fundraisingcol D$26.8M
Owns and owesPt X
$14.6B
net assets · Ln 32
Cash and savingsLn 1–2$2.6B
Total assetsLn 16$20.3B
LiabilitiesLn 26$5.7B
PeoplePt VI, VII
83
listed · VII A
PaidVII A31
Voting boardVI 1a38
IndependentVI 1b36
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.1B
Government grantsLn 1e$762.8M
Noncash giftsLn 1g$27.2M
Fundraising eventsLn 1c$1.2M
Fees for servicesLn 2g$4.0B
Investment incomeLn 3$445.3M
Other incomeLn 4–11$39.1M
Gains on assetsLn 7$703.5M
Total revenueLn 12$5.5B
Assets in detailPt X, end of year
SavingsLn 2$2.65B
Cash and savings togetherLn 1–2$2.6B
InvestmentsLn 11–13$13.00B
Land, buildings, equipmentLn 10c$3.27B
Other assetsLn 15$18.1M
Total assetsLn 16$20.3B
LiabilitiesLn 26$5.7B
Net assetsLn 32$14.6B
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 FY21End FY21
Cash and savingsLn 1–2$2.46B$2.65B
InvestmentsLn 11–13$10.03B$13.00B
Land, buildings, equipmentLn 10c$3.02B$3.27B
Total assetsLn 16$16.84B$20.34B
LiabilitiesLn 26$5.37B$5.75B
Net assetsLn 32$11.46B$14.59B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$182.5M$182.5M
Grants to domestic individualsLn 2$326.6M$326.6M
Grants and assistance to foreign recipientsLn 3$23.6M$23.6M
Pay of current officers, directors and key staffLn 5$26.1M$16.4M$9.0M$714K
Pay of disqualified personsLn 6$5.2M$4.2M$1.0M
Other salaries and wagesLn 7$1.81B$1.67B$118.8M$17.7M
Pension plan contributionsLn 8$135.9M$125.0M$9.5M$1.4M
Other employee benefitsLn 9$277.6M$255.4M$19.4M$2.8M
Payroll taxesLn 10$138.9M$127.8M$9.7M$1.4M
Management feesLn 11a$19.8M$19.8M
Legal feesLn 11b$7.7M$6.5M$1.2M$77K
Accounting feesLn 11c$1.0M$1.0M
Lobbying feesLn 11d$737K$737K
Professional fundraising feesLn 11e$718K$718K
Investment management feesLn 11f$30.6M$30.6M
Other fees for servicesLn 11g$78.4M$44.2M$33.9M$349K
Advertising and promotionLn 12$3.8M$3.6M$191K
Office expensesLn 13$17.6M$17.2M$176K$176K
Information technologyLn 14$19.3M$15.6M$3.5M$193K
OccupancyLn 16$113.4M$99.8M$12.5M$1.1M
TravelLn 17$3.9M$3.2M$386K$231K
Conferences, conventions and meetingsLn 19$2.6M$2.6M
InterestLn 20$57.7M$54.8M$2.9M
Depreciation, depletion and amortizationLn 22$237.2M$227.7M$9.5M
InsuranceLn 23$24.5M$24.5M
Other expenses (24a–d)Ln 24$1.24B$1.21B$30.7M
All other expensesLn 24e$195.1M$195.0M$102K$0
Total functional expensesLn 25$4.98B$4.64B$314.6M$26.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $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 Viewing $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 R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support F · Foreign M · Noncash J · Pay O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $5,533,550,104 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $838,625,720$1,076,895,012
I-9 Program service revenuePrior year $3,584,113,824$3,972,186,557
I-10 Investment incomePrior year $288,071,181$445,336,147
I-11 Other revenuePrior year $45,048,761$39,132,388
I-12 Total revenuePrior year $4,755,859,486$5,533,550,104
I-13 Grants and similar amounts paidPrior year $486,591,011$532,762,734
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,239,531,149$2,392,863,324
I-16a Professional fundraising feesPrior year $411,662$717,901
I-17 Other expensesPrior year $1,853,872,675$2,058,187,786
I-18 Total expensesPrior year $4,580,406,497$4,984,531,745
I-19 Revenue less expensesPrior year $175,452,989$549,018,359
Part VI · Governance 36 of 38 board members independent, 1 to look at
VI-1a Voting members of the governing body38
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 $5,533,550,104 across 13 lines filed
VIII-1c Fundraising events$1,227,165
VIII-1e Government grants$762,848,801
VIII-1f All other contributions, gifts and grants$312,819,046
VIII-1g Noncash contributions (included above)$27,228,236
VIII-1h Total contributions, gifts and grants$1,076,895,012
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,970,108,963 · Unrelated business $2,077,594$3,972,186,557
VIII-3 Investment incomeUnrelated business −$18,753,302 · Excluded from tax −$239,380,684−$258,133,986
VIII-5 RoyaltiesExcluded from tax $10,102,082$10,102,082
VIII-6 Net rental income or lossExcluded from tax $13,136,024$13,136,024
VIII-7 Net gain or loss on sales of assetsExcluded from tax $703,470,133$703,470,133
VIII-8 Net income from fundraising eventsExcluded from tax $147,326$147,326
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $15,746,956$15,746,956
VIII-12 Total revenueRelated to mission $3,970,108,963 · Unrelated business −$16,675,708 · Excluded from tax $503,221,837$5,533,550,104
Part IX · Statement of functional expenses $4,984,531,745 across 27 lines filed
IX-1 Grants to domestic organizationsPrograms $182,548,214$182,548,214
IX-2 Grants to domestic individualsPrograms $326,565,697$326,565,697
IX-3 Grants and assistance to foreign recipientsPrograms $23,648,823$23,648,823
IX-5 Pay of current officers, directors and key staffPrograms $16,383,236 · Management $8,990,056 · Fundraising $713,649$26,086,941
IX-6 Pay of disqualified personsPrograms $4,152,104 · Management $1,014,226$5,166,330
IX-7 Other salaries and wagesPrograms $1,672,687,235 · Management $118,827,870 · Fundraising $17,690,946$1,809,206,051
IX-8 Pension plan contributionsPrograms $124,984,334 · Management $9,509,678 · Fundraising $1,358,525$135,852,537
IX-9 Other employee benefitsPrograms $255,408,318 · Management $19,433,242 · Fundraising $2,776,177$277,617,737
IX-10 Payroll taxesPrograms $127,819,030 · Management $9,725,361 · Fundraising $1,389,337$138,933,728
IX-11a Management feesManagement $19,803,172$19,803,172
IX-11b Legal feesPrograms $6,459,511 · Management $1,153,484 · Fundraising $76,899$7,689,894
IX-11c Accounting feesManagement $1,024,523$1,024,523
IX-11d Lobbying feesManagement $737,121$737,121
IX-11e Professional fundraising feesFundraising $717,901$717,901
IX-11f Investment management feesManagement $30,566,985$30,566,985
IX-11g Other fees for servicesPrograms $44,160,033 · Management $33,908,596 · Fundraising $349,130$78,417,759
IX-12 Advertising and promotionPrograms $3,638,329 · Management $191,491$3,829,820
IX-13 Office expensesPrograms $17,216,053 · Management $175,674 · Fundraising $175,674$17,567,401
IX-14 Information technologyPrograms $15,621,615 · Management $3,471,470 · Fundraising $192,859$19,285,944
IX-16 OccupancyPrograms $99,802,829 · Management $12,475,354 · Fundraising $1,134,123$113,412,306
IX-17 TravelPrograms $3,238,941 · Management $385,588 · Fundraising $231,353$3,855,882
IX-19 Conferences, conventions and meetingsPrograms $2,644,377$2,644,377
IX-20 InterestPrograms $54,793,961 · Management $2,883,893$57,677,854
IX-22 Depreciation, depletion and amortizationPrograms $227,696,558 · Management $9,487,357$237,183,915
IX-23 InsurancePrograms $24,535,988$24,535,988
IX-24 Other expenses (24a–d)Programs $1,214,153,064 · Management $30,718,719$1,244,871,783
IX-24e All other expensesPrograms $194,981,363 · Management $101,699 · Fundraising $0$195,083,062
IX-25 Total functional expensesPrograms $4,643,139,613 · Management $314,585,559 · Fundraising $26,806,573$4,984,531,745
Part X · Balance sheet $20,337,113,893 assets, 21 lines filed
Asset lines not itemized here account for $290,000; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $2,455,604,360$2,645,606,186
X-3 Pledges and grants receivableStart of year $160,429,362$180,994,384
X-4 Accounts receivableStart of year $897,464,163$984,734,719
X-8 Inventories for sale or useStart of year $34,500,567$41,116,875
X-9 Prepaid expenses and deferred chargesStart of year $205,231,474$204,477,793
X-10c Land, buildings and equipment, netStart of year $3,021,677,913$3,266,415,920
X-11 Publicly traded securitiesStart of year $771,373,497$916,515,945
X-12 Other securitiesStart of year $9,242,280,625$12,060,466,331
X-13 Program-related investmentsStart of year $20,783,155$18,440,893
X-15 Other assetsStart of year $27,556,008$18,054,847
X-16 Total assetsStart of year $16,836,981,124$20,337,113,893
X-17 Accounts payable and accrued expensesStart of year $906,271,253$962,390,010
X-19 Deferred revenueStart of year $242,931,241$311,547,710
X-20 Tax-exempt bond liabilitiesStart of year $1,617,897,286$1,581,596,370
X-24 Unsecured notes and loans payableStart of year $945,017,614$944,541,062
X-25 Other liabilitiesStart of year $1,662,210,700$1,948,925,024
X-26 Total liabilitiesStart of year $5,374,328,094$5,749,000,176
X-27 Net assets without donor restrictionsStart of year $5,335,642,746$6,583,569,730
X-28 Net assets with donor restrictionsStart of year $6,127,010,284$8,004,543,987
X-32 Total net assets or fund balancesStart of year $11,462,653,030$14,588,113,717
X-33 Total liabilities and net assetsStart of year $16,836,981,124$20,337,113,893
Part XI · Reconciliation of net assets $14,588,113,717 net assets at year end
XI-1 Total revenue$5,533,550,104
XI-2 Total expenses$4,984,531,745
XI-3 Revenue less expenses$549,018,359
XI-4 Net assets at start of year$11,462,653,030
XI-5 Net unrealized gains (losses) on investments$2,169,541,202
XI-9 Other changes in net assets$406,901,126
XI-10 Net assets at end of year$14,588,113,717

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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