The Trustees of Princeton University
Also known as Princeton University
The Trustees of Princeton University reported $3.21 billion in revenue and $3.20 billion in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $87.46 went to program services, $11.34 to management and general costs and $1.20 to fundraising. Its largest source of revenue was investment income: 48.0% of the total. Government grants made up 14.8%. The highest compensation it reported for one person was $4,722,776 (President of PRINCO). 3,490 people received more than $100,000 in reportable compensation. Revenue rose 51% 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 $3.20BFor 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 $3.21BThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 87.5% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 11.3% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.2% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.04 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 27.2% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 14.8% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 21.1% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $4,722,776 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.15% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 3,490 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 143.1 | 13.3 |
| Independent voting board members Part VI 1a–1b | 33 of 37 | 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 expenseResearch-one of the world's great research centers, Princeton University is the site of pioneering work across all academic areas. Every member of the faculty is engaged in scholarly research. In addition, graduate students and upperclass undergraduates pursue independent research. External sources funded 1,740 separate projects in 2024-25, reflecting and enhancing the exceptional quality of research at princeton
Education - Princeton University is a private not-for-profit, non-sectarian institution of higher learning with approximately 5,700 undergraduate and 3,300 graduate students. 2,500 students graduated in the 2024-2025 academic year. As a world-renowned research university, princeton seeks to achieve the highest levels of distinction in the discovery and transmission of knowledge and understanding. At the same time, princeton is distinctive among research universities in its commitment to undergraduate teaching
Auxiliary activities-Princeton University furnishes services to the campus community including housing, dining, and conference and event services to approximately 9,000 students, 1,300 faculty, 6,700 staff, as well as the public. One of princeton's defining characteristics is its small, residential community that offers a wealth of academic, extracurricular and campus life opportunities for students. Nearly all of the university's undergraduates and 70 percent of graduate students live on campus. The university also offers a variety of housing and dining programs for faculty and staff
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 |
|---|---|---|---|---|
| President of PRINCO Officer, 50.0 hrs/week | $3,762,747 | $0 | $960,029 | $4,722,776 |
| managing director of PRINCO Highest compensated employee, 50.0 hrs/week | $2,785,511 | $0 | $168,170 | $2,953,681 |
| managing director of PRINCO Highest compensated employee, 50.0 hrs/week | $2,049,037 | $0 | $605,484 | $2,654,521 |
| managing director of PRINCO Highest compensated employee, 50.0 hrs/week | $2,002,806 | $0 | $572,913 | $2,575,719 |
| managing director of PRINCO Highest compensated employee, 50.0 hrs/week | $1,686,082 | $0 | $605,677 | $2,291,759 |
| managing director of PRINCO Highest compensated employee, 50.0 hrs/week | $1,356,404 | $0 | $488,547 | $1,844,951 |
| PRESIDENT Director/trustee, officer, 50.0 hrs/week | $1,518,245 | $0 | $139,492 | $1,657,737 |
| Former president of PRINCO Former, 50.0 hrs/week | $1,532,931 | $0 | $65,858 | $1,598,789 |
3,490 people received more than $100,000 in reportable compensation from The Trustees of Princeton University (Part VII, line 2). Compensation of current officers, directors and key employees totaled $17M (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–1b37 · 33 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 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 517,462
- Volunteers Part I, line 627,000
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| General Atomics Research and design | $14,822,774 |
| WeDriveU Inc Transportation | $6,468,388 |
| SmithGroup Architect Fees | $5,480,118 |
| Kubik Maltbie Inc Exhibit Design and Fabrication | $4,946,026 |
Individuals listed as contractors are left out. 1,074 contractors were paid more than $100,000 in all.
Private foundation grants it received
356 private foundations reported grants to The Trustees of Princeton University totaling $57M 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 The Trustees of Princeton University's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for The Trustees of Princeton University, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 The Trustees of Princeton University spent in FY2025, $87.46 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- Gothic CorporationDurham, NC · revenue $3.18B · programs 100.0% · FY2025
- University of Notre Dame du LacNotre Dame, IN · revenue $3.42B · programs 84.7% · FY2025
- Northeastern UniversityBoston, MA · revenue $3.16B · programs 90.8% · FY2025
- Governing Council of the University of TorontoCanada, · revenue $3.49B · programs 94.8% · FY2025
- Baylor College of MedicineHouston, TX · revenue $2.98B · programs 91.9% · FY2025
Questions people ask
How much of The Trustees of Princeton University's spending goes to programs?
In the fiscal year ending June 30, 2025, The Trustees of Princeton University reported that 87.5% of its $3.20 billion in expenses went to program services, 11.3% to management and general and 1.2% to fundraising (Form 990, Part IX).
How much does The Trustees of Princeton University pay its top executive?
The largest total compensation The Trustees of Princeton University reported for one person in the fiscal year ending June 30, 2025 was $4,722,776, for the role of President of PRINCO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does The Trustees of Princeton University get its money?
Of $3.21 billion in revenue in the fiscal year ending June 30, 2025, 27.2% came from contributions and grants (including 14.8% from government grants) and 21.1% from program service revenue (Form 990, Part VIII).
Is The Trustees of Princeton University a registered charity?
The IRS lists EIN 21-0634501 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 202611349349307136 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202511349349305891 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202441369349303904 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202341359349301724 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202231369349305438 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202131379349301218 · read the filing
All filings for EIN 21-0634501: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.