Indiana University Foundation
Indiana University Foundation reported $598.7 million in revenue and $501.9 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $89.13 went to program services, $5.22 to management and general costs and $5.65 to fundraising. Its largest source of revenue was contributions and grants: 56.0% of the total. The highest compensation it reported for one person was $585,576 (President and CEO). 131 people received more than $100,000 in reportable compensation. Revenue rose 162% 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 $502MFor 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 $599MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 89.1% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 5.2% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 5.7% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.08 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 56.0% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 9.1% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $585,576 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.12% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 131 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 92.2 | 13.3 |
| Independent voting board members Part VI 1a–1b | 48 of 49 | 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 expenseAcademic & Student Program Support - The IUF provided over $225 million to the University to support academic & student programs. These funds enable dedicated students to develop skills and knowledge for growth and success by offering high-quality, responsive academic and student programs by employing best practices in teaching and learning; adding to the accumulated body of knowledge and creative work; enriching the community through cultural leadership and providing resources for problem solving
Faculty Support and Research - With approximately $80.5 million from IUF, University faculty and staff received additional support allowing for increased research opportunities and improved classroom experiences for all students. Private gift support helps meet the University's goal to attract and retain world-class faculty, which ultimately attracts the best and brightest students. During 2025, the number of endowed faculty positions (chairs, professorships, and fellowships) totaled 595
Student Scholarship and Financial Aid support - Indiana University undergraduate and graduate students received more than $75 million in scholarships, fellowships, and awards from private gift support. Students received scholarship support across all programs and units of the University. With the University seeing record enrollment numbers, private gift support is critical to ensure that all willing students are able to explore their educational opportunities, experience college life, and efficiently manage tuition costs and debt loads. In FY2025, nearly 16,500 scholarships supporting…
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 and CEO Director/trustee, officer, 40.00 hrs/week | $511,589 | $0 | $73,987 | $585,576 |
| Co-CIO Key employee, 40.00 hrs/week | $440,746 | $0 | $86,040 | $526,786 |
| Co-CIO Key employee, 40.00 hrs/week | $435,986 | $0 | $85,484 | $521,470 |
| EVP for Development Key employee, 40.00 hrs/week | $352,024 | $0 | $62,332 | $414,356 |
| Interim EVP Finance and Bus Op, VP Project Managem Key employee, 40.00 hrs/week | $288,207 | $0 | $53,241 | $341,448 |
| VP, Principal Gifts Highest compensated employee, 40.00 hrs/week | $263,452 | $0 | $51,673 | $315,125 |
| EVP, Gen Counsel & Sec. (until 6/25) Officer, 40.00 hrs/week | $246,263 | $0 | $68,386 | $314,649 |
| VP, University Advancement Highest compensated employee, 40.00 hrs/week | $272,224 | $0 | $36,699 | $308,923 |
131 people received more than $100,000 in reportable compensation from Indiana University Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $4.3M (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–1b49 · 48 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 11aNo
- 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 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- 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 5378
- Volunteers Part I, line 6524
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| Kensington Vanguard National Real Estate Services | $1,050,000 |
| Cambridge Associates LLC Investment Management | $895,000 |
| Champlain Investment Partners LLC Investment Management | $786,076 |
| Hylant Group Insurance Services | $759,367 |
| Snyder Capital Management LP Investment Management | $689,227 |
Individuals listed as contractors are left out. 16 contractors were paid more than $100,000 in all.
Private foundation grants it received
119 private foundations reported grants to Indiana University Foundation totaling $22M 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 Indiana University Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Indiana University Foundation, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Indiana University Foundation spent in FY2025, $89.13 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- University of the PacificStockton, CA · revenue $588M · programs 95.5% · FY2025
- University of St ThomasSt Paul, MN · revenue $603M · programs 91.1% · FY2025
- University of Minnesota FoundationMinneapolis, MN · revenue $586M · programs 79.3% · FY2025
- University of California Berkeley FoundationBerkeley, CA · revenue $606M · programs 96.3% · FY2025
- Carleton UniversityCanada, · revenue $582M · programs 95.2% · FY2026
Questions people ask
How much of Indiana University Foundation's spending goes to programs?
In the fiscal year ending June 30, 2025, Indiana University Foundation reported that 89.1% of its $501.9 million in expenses went to program services, 5.2% to management and general and 5.7% to fundraising (Form 990, Part IX).
How much does Indiana University Foundation pay its top executive?
The largest total compensation Indiana University Foundation reported for one person in the fiscal year ending June 30, 2025 was $585,576, for the role of President and CEO (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Indiana University Foundation get its money?
Of $598.7 million in revenue in the fiscal year ending June 30, 2025, 56.0% came from contributions and grants and 9.1% from program service revenue (Form 990, Part VIII).
Is Indiana University Foundation a registered charity?
The IRS lists EIN 35-6018940 as a 501(c)(3) organization (organization operated for a governmental college or university), 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 202611329349300021 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202531199349300633 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202431349349308023 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202331249349302338 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202211279349300936 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202101319349300005 · read the filing
All filings for EIN 35-6018940: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.