Northwestern University
Northwestern University reported $4.06 billion in revenue and $4.29 billion in expenses for the fiscal year ending August 31, 2025. Of every $100 it spent, $91.64 went to program services, $6.78 to management and general costs and $1.58 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 71.3% of the total. The highest compensation it reported for one person was $3,976,787 (Head Men's Basketball Coach). 3,935 people received more than $100,000 in reportable compensation. Revenue rose 29% between FY2020 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending August 31, 2025 · Form 990, Part IX, line 25 · total expenses $4.29BFor context, the median across 237 covered recreation & sports charities: $88.05 programs, $10.89 management, $1.06 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending August 31, 2025 · Form 990, Part VIII · total revenue $4.06BThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 91.6% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 6.8% | 10.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.6% | 1.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.14 | $0.05 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 12.3% | 25.2% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.8% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 71.3% | 61.0% |
| Highest reported compensation Part VII-A, columns D–F | $3,976,787 | $365,322 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.09% | 2.14% |
| People paid over $100,000 Part VII, line 2 | 3,935 | 6 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 45.5 | 14.9 |
| Independent voting board members Part VI 1a–1b | 36 of 36 | 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 of students: for the 2025 academic year, 8,961 undergraduates and 11,228 graduates and professional school students enrolled full-time at the university. The exempt purpose of Northwestern University is to provide educational services to its students. This includes superior undergraduate education for a diverse student body in a comprehensive range of academic and professional fields. At the graduate level, northwestern's role encompasses offerings in the major academic and professional fields, closely related to research, creative activities, and clinical services
Research activities: the research program at Northwestern University is a major component of university efforts, assuring institutional leadership in scientific discovery, intellectual inquiry, and creative performance. The character of this research shapes all areas of university endeavor, especially graduate education as well as undergraduate studies
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 |
|---|---|---|---|---|
| Head Men's Basketball Coach Highest compensated employee, 40.0 hrs/week | $3,894,564 | $0 | $82,223 | $3,976,787 |
| VP & Chief Investment Officer Officer, 40.0 hrs/week | $2,382,911 | $0 | $1,279,146 | $3,662,057 |
| Head Football Coach Highest compensated employee, 40.0 hrs/week | $3,040,151 | $0 | $65,939 | $3,106,090 |
| Professor-Kellogg Highest compensated employee, 40.0 hrs/week | $2,262,619 | $0 | $71,287 | $2,333,906 |
| Combe Family Vice President for Athletics and Recreation Officer, 40.0 hrs/week | $2,224,996 | $0 | $54,449 | $2,279,445 |
| President Officer, 40.0 hrs/week | $1,478,846 | $0 | $607,044 | $2,085,890 |
| FMR President/President Emeritus Former, 40.0 hrs/week | $1,958,594 | $0 | $66,588 | $2,025,182 |
| Managing Dir Absolute Return Highest compensated employee, 40.0 hrs/week | $1,405,635 | $0 | $618,305 | $2,023,940 |
3,935 people received more than $100,000 in reportable compensation from Northwestern University (Part VII, line 2). Compensation of current officers, directors and key employees totaled $24M (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–1b36 · 36 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 2Yes
- 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 528,548
- Volunteers Part I, line 6143
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| CENTRAL STREET CONSORTIUM Construction services | $110,201,784 |
| THE FAMILY INSTITUTE Instruction services | $49,965,059 |
| POWER CONSTRUCTION CO LLC Construction services | $33,115,607 |
| ARAMARK SERVICES Food and dining services | $20,370,518 |
| BULLEY REWS LLC Construction services | $20,358,445 |
Individuals listed as contractors are left out. 500 contractors were paid more than $100,000 in all.
Private foundation grants it received
398 private foundations reported grants to Northwestern University totaling $67M 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 Northwestern 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 Northwestern University, you can publish a response that is linked from this page.
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Of every $100 Northwestern University spent in FY2025, $91.64 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- National Collegiate Athletic AssociationIndianapolis, IN · revenue $1.56B · programs 96.6% · FY2025
- Southeastern ConferenceBirmingham, AL · revenue $1.11B · programs 95.2% · FY2025
- Atlantic Coast ConferenceCharlotte, NC · revenue $826M · programs 96.2% · FY2025
- ElderhostelBoston, MA · revenue $446M · programs 92.6% · FY2025
- Legacy CaresScottsdale, AZ · revenue $333M · programs 0.0% · 2024
All recreation & sports charities · Largest charities in Illinois
Questions people ask
How much of Northwestern University's spending goes to programs?
In the fiscal year ending August 31, 2025, Northwestern University reported that 91.6% of its $4.29 billion in expenses went to program services, 6.8% to management and general and 1.6% to fundraising (Form 990, Part IX).
How much does Northwestern University pay its top executive?
The largest total compensation Northwestern University reported for one person in the fiscal year ending August 31, 2025 was $3,976,787, for the role of Head Men's Basketball Coach (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Northwestern University get its money?
Of $4.06 billion in revenue in the fiscal year ending August 31, 2025, 12.3% came from contributions and grants (including 0.8% from government grants) and 71.3% from program service revenue (Form 990, Part VIII).
Is Northwestern University a registered charity?
The IRS lists EIN 36-2167817 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 August 31, 2025, object 202611959349301976 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending August 31, 2024, object 202531959349301243 · read the filing
- FY2023: Form 990 for the fiscal year ending August 31, 2023, object 202421949349301317 · read the filing
- FY2022: Form 990 for the fiscal year ending August 31, 2022, object 202301989349301715 · read the filing
- FY2021: Form 990 for the fiscal year ending August 31, 2021, object 202221959349300517 · read the filing
- FY2020: Form 990 for the fiscal year ending August 31, 2020, object 202141959349301014 · read the filing
All filings for EIN 36-2167817: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.