President and Fellows of Harvard College
President and Fellows of Harvard College reported $8.32 billion in revenue and $7.24 billion in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $85.59 went to program services, $11.00 to management and general costs and $3.41 to fundraising. Its largest source of revenue was investment income: 46.6% of the total. Government grants made up 7.2%. The highest compensation it reported for one person was $1,991,045 (FACULTY). 7,844 people received more than $100,000 in reportable compensation. Revenue rose 13% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $7.24BFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $8.32BThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 85.6% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 11.0% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 3.4% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.13 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 22.3% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 7.2% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 29.8% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $1,991,045 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.03% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 7,844 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 110.2 | 13.3 |
| Independent voting board members Part VI 1a–1b | 11 of 13 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseEducation and other institutional activities: harvard university (the "university") is a private, not-for-profit institution of higher education with approximately 6,980 undergraduate and 13,986 graduate students. The university includes the faculty of arts and sciences (Harvard College), the john a. Paulson school of engineering and applied sciences, the division of continuing education, ten graduate and professional schools, the radcliffe institute for advanced study, a variety of research museums and institutes, and an extensive library system to support the teaching and research…
Sponsored research activities: the range of research activities at harvard is broad and deep. Harvard scholars conduct research in almost every field, and seek to expand human knowledge through analysis, innovation, and insight. As reported on part viii, research is supported by federal grants (line 1e), non-federal sponsored grants (line 1f) and non-federal sponsored contracts (line 2b). The university's principal source of federal sponsored funds is the department of health and human services. The university also has many non-federal sources of sponsored awards, grants, and contracts…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| FACULTY Highest compensated employee, 48.0 hrs/week | $1,904,006 | $31,500 | $55,539 | $1,991,045 |
| FACULTY Highest compensated employee, 48.0 hrs/week | $1,928,263 | $4,500 | $57,067 | $1,989,830 |
| FACULTY Highest compensated employee, 60.0 hrs/week | $1,884,004 | $0 | $52,545 | $1,936,549 |
| SEE SCHEDULE O Director/trustee, officer, 60.0 hrs/week | $1,391,448 | $0 | $251,390 | $1,642,838 |
| SEE SCHEDULE O Highest compensated employee, 60.0 hrs/week | $1,397,749 | $0 | $150,802 | $1,548,551 |
| FACULTY Highest compensated employee, 60.0 hrs/week | $1,228,579 | $0 | $56,732 | $1,285,311 |
| DEAN, FACULTY OF BUSINESS Key employee, 60.0 hrs/week | $911,062 | $0 | $202,965 | $1,114,027 |
| SEE SCHEDULE O Officer, 60.0 hrs/week | $985,882 | $0 | $76,097 | $1,061,979 |
7,844 people received more than $100,000 in reportable compensation from President and Fellows of Harvard College (Part VII, line 2). Compensation of current officers, directors and key employees totaled $14M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b13 · 11 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26Yes
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18Yes
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 539,590
- Volunteers Part I, line 610,000
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| SHAWMUT DESIGN AND CONSTRUCTION Construction contractor | $193,275,761 |
| YOH SERVICES INC Employment services | $68,153,659 |
| WALSH BROTHERS INC Construction contractor | $50,956,773 |
| SECURITAS SECURITY SERVICES Security services | $41,609,288 |
| RESTAURANT ASSOCIATES INC Dining services | $38,145,707 |
Individuals listed as contractors are left out. 773 contractors were paid more than $100,000 in all.
Private foundation grants it received
831 private foundations reported grants to President and Fellows of Harvard College totaling $341M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from President and Fellows of Harvard College's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for President and Fellows of Harvard College, you can publish a response that is linked from this page.
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Of every $100 President and Fellows of Harvard College spent in FY2025, $85.59 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Emory UniversityAtlanta, GA · revenue $7.86B · programs 93.5% · FY2025
- Yale UniversityNew Haven, CT · revenue $8.45B · programs 87.2% · FY2025
- The Trustees of Columbia University in the City of New YorkNew York, NY · revenue $7.51B · programs 90.1% · FY2025
- The Board of Trustees of the Leland Stanford Junior UniversityRedwood City, CA · revenue $10.2B · programs 88.6% · FY2025
- Cornell UniversityIthaca, NY · revenue $7.48B · programs 82.7% · FY2025
All education charities · Largest charities in Massachusetts
Questions people ask
How much of President and Fellows of Harvard College's spending goes to programs?
In the fiscal year ending June 30, 2025, President and Fellows of Harvard College reported that 85.6% of its $7.24 billion in expenses went to program services, 11.0% to management and general and 3.4% to fundraising (Form 990, Part IX).
How much does President and Fellows of Harvard College pay its top executive?
The largest total compensation President and Fellows of Harvard College reported for one person in the fiscal year ending June 30, 2025 was $1,991,045, for the role of FACULTY (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does President and Fellows of Harvard College get its money?
Of $8.32 billion in revenue in the fiscal year ending June 30, 2025, 22.3% came from contributions and grants (including 7.2% from government grants) and 29.8% from program service revenue (Form 990, Part VIII).
Is President and Fellows of Harvard College a registered charity?
The IRS lists EIN 04-2103580 as a 501(c)(3) organization (school), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202601349349306880 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202531349349307548 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202401309349304335 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202311319349301331 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202211329349303081 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202131339349302713 · read the filing
All filings for EIN 04-2103580: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.