Washington University
Washington University reported $5.90 billion in revenue and $5.47 billion in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $91.93 went to program services, $6.57 to management and general costs and $1.50 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 59.9% of the total. Government grants made up 16.0%. The highest compensation it reported for one person was $13,031,999 (CHIEF INVESTMENT OFFICER). 5,873 people received more than $100,000 in reportable compensation. Revenue rose 16% 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 $5.47BFor 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 $5.90BThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 91.9% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 6.6% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.5% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.05 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 27.5% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 16.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 59.9% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $13,031,999 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.24% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 5,873 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 39.2 | 13.3 |
| Independent voting board members Part VI 1a–1b | 38 of 41 | 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 expenseInstruction - this category includes expenditures for all activities that are part of an institution's instruction program, with the exception of expenditures for remedial and tutorial instruction, which are categorized as student services. Expenditures for credit and non-credit courses for academic, occupational, vocational and medical care instruction, and for regular, special and extension sessions are included. Attendance: fall semester 16,339 and spring semester 15,198 approximately 472,976 patients were treated by medical school faculty and students
Research - this category includes all expenditures for activities specifically organized to produce research outcomes, whether commissioned by an agency external to the institution or separately budgeted by an organizational unit within the institution. Subject to these conditions, it includes expenditures for individual and/or product research as well as those of the institutes and research centers. Revenues exclude government grants which are reported as contributions. During fiscal year 2025, the university received 5,045 direct and indirect awards
Auxiliary and student support services - expenses incurred are primarily for the support of students. Auxiliary activities include student housing, food service, transportation and campus parking. Student services are those activities that directly support the students but do not qualify as management and general costs. Significant components include central and school-specific admissions, registrars, career planning and placement offices, student financial aid loan offices, student health services, athletics, student activities office, international students office, and the vice chancellor…
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 |
|---|---|---|---|---|
| CHIEF INVESTMENT OFFICER Officer, 40.0 hrs/week | $11,971,244 | $0 | $1,060,755 | $13,031,999 |
| DEP CHIEF INVESTMENT OFFICER Highest compensated employee, 40.0 hrs/week | $4,398,980 | $0 | $574,287 | $4,973,267 |
| EXEC VC MEDICAL AFFAIRS Officer, 40.0 hrs/week | $2,146,122 | $0 | $334,295 | $2,480,417 |
| CHANCELLOR Officer, 40.0 hrs/week | $1,898,738 | $0 | $483,326 | $2,382,064 |
| COO - INVESTMENT MGMT Highest compensated employee, 40.0 hrs/week | $1,645,460 | $0 | $498,825 | $2,144,285 |
| DEPT HEAD & OPHTHALMOLOGY PROF Highest compensated employee, 40.0 hrs/week | $2,037,218 | $0 | $63,203 | $2,100,421 |
| PROF OF ORTHO SURG Highest compensated employee, 40.0 hrs/week | $1,895,297 | $0 | $76,502 | $1,971,799 |
| ASSOC PROF OF ORTHO SURG Highest compensated employee, 40.0 hrs/week | $1,781,055 | $0 | $71,327 | $1,852,382 |
5,873 people received more than $100,000 in reportable compensation from Washington University (Part VII, line 2). Compensation of current officers, directors and key employees totaled $34M (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–1b41 · 38 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 5Yes
- 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 533,651
- Volunteers Part I, line 66,500
Private foundation grants it received
206 private foundations reported grants to Washington University totaling $52M 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 Washington 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 Washington University, you can publish a response that is linked from this page.
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Of every $100 Washington University spent in FY2025, $91.93 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- University of ChicagoChicago, IL · revenue $5.62B · programs 84.1% · FY2025
- University of Southern CaliforniaLos Angeles, CA · revenue $5.93B · programs 81.5% · FY2025
- Emory Group ReturnAtlanta, GA · revenue $4.83B · programs 97.9% · FY2025
- University of RochesterRochester, NY · revenue $6.42B · programs 96.4% · FY2025
- Duke UniversityDurham, NC · revenue $4.75B · programs 89.7% · FY2025
Questions people ask
How much of Washington University's spending goes to programs?
In the fiscal year ending June 30, 2025, Washington University reported that 91.9% of its $5.47 billion in expenses went to program services, 6.6% to management and general and 1.5% to fundraising (Form 990, Part IX).
How much does Washington University pay its top executive?
The largest total compensation Washington University reported for one person in the fiscal year ending June 30, 2025 was $13,031,999, for the role of CHIEF INVESTMENT OFFICER (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Washington University get its money?
Of $5.90 billion in revenue in the fiscal year ending June 30, 2025, 27.5% came from contributions and grants (including 16.0% from government grants) and 59.9% from program service revenue (Form 990, Part VIII).
Is Washington University a registered charity?
The IRS lists EIN 43-0653611 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 202641359349315719 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202531349349312818 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202421359349312512 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202321359349319812 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202241369349305474 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202101379349303075 · read the filing
All filings for EIN 43-0653611: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.