Minerva University
Minerva University reported $48.9 million in revenue and $41.6 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $89.85 went to program services, $9.71 to management and general costs and $0.44 to fundraising. Its largest source of revenue was contributions and grants: 52.9% of the total. The highest compensation it reported for one person was $652,955 (PRESIDENT). 34 people received more than $100,000 in reportable compensation. Revenue fell 10% 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 $42MFor 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 $49MThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 89.8% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 9.7% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.4% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.01 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 52.9% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 45.7% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | $652,955 | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 1.57% | 1.28% |
| People paid over $100,000 Part VII, line 2 | 34 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 6.8 | 13.3 |
| Independent voting board members Part VI 1a–1b | 8 of 8 | 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 expenseOperate affordable, high quality educational programs leading to an undergraduate degree. To accomplish this, the institute identifies students, awards scholarships and other direct aid, provides instruction using high quality, scaffolded curricula on an innovate live video-based platform and immersive residential services in seven global locations
Operate high quality educational programs leading to a graduate degree. To accomplish this, the institute identifies students and provides instruction using high quality, scaffolded curricula on an innovative live video-based platform
Operate high quality educational non-degree programs with a duration of a few weeks or up to a year. To accomplish this, the institute identifies students and provides instruction using high quality, scaffolded curricula on an innovate live video-based platform
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 Officer, 40.00 hrs/week | $630,000 | $0 | $22,955 | $652,955 |
| COO Officer, 40.00 hrs/week | $402,000 | $0 | $0 | $402,000 |
| ASSOCIATE DEAN OF FACULTY Key employee, 40.00 hrs/week | $226,000 | $0 | $15,427 | $241,427 |
| PROVOST Key employee, 40.00 hrs/week | $212,500 | $0 | $4,703 | $217,203 |
| PROFESSOR Highest compensated employee, 40.00 hrs/week | $194,549 | $0 | $15,112 | $209,661 |
| DEAN OF GLOBAL STUDENT SERVICES Highest compensated employee, 40.00 hrs/week | $180,000 | $0 | $15,093 | $195,093 |
| PROFESSOR Highest compensated employee, 40.00 hrs/week | $173,493 | $0 | $20,597 | $194,090 |
| PROFESSOR Highest compensated employee, 40.00 hrs/week | $179,574 | $0 | $11,306 | $190,880 |
34 people received more than $100,000 in reportable compensation from Minerva University (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.6M (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–1b8 · 8 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 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 5652
- Volunteers Part I, line 68
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| ENGIN VOLKAN International professor | $154,423 |
Individuals listed as contractors are left out. 11 contractors were paid more than $100,000 in all.
Private foundation grants it received
1 private foundation reported grants to Minerva University totaling $35,000 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 Minerva 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 Minerva University, you can publish a response that is linked from this page.
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Of every $100 Minerva University spent in FY2025, $89.85 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- University Physicians of BrooklynBrooklyn, NY · revenue $49M · programs 92.2% · 2024
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- The Carroll SchoolLincoln, MA · revenue $49M · programs 86.5% · FY2025
- El Camino Real AllianceWoodland Hills, CA · revenue $49M · programs 86.1% · FY2025
- Scheck Hillel Community SchoolNorth Miami Beach, FL · revenue $49M · programs 85.7% · FY2025
Questions people ask
How much of Minerva University's spending goes to programs?
In the fiscal year ending June 30, 2025, Minerva University reported that 89.8% of its $41.6 million in expenses went to program services, 9.7% to management and general and 0.4% to fundraising (Form 990, Part IX).
How much does Minerva University pay its top executive?
The largest total compensation Minerva University reported for one person in the fiscal year ending June 30, 2025 was $652,955, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Minerva University get its money?
Of $48.9 million in revenue in the fiscal year ending June 30, 2025, 52.9% came from contributions and grants and 45.7% from program service revenue (Form 990, Part VIII).
Is Minerva University a registered charity?
The IRS lists EIN 46-2589747 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 202641359349308504 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202521259349300997 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202400739349301025 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202330759349301623 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202201369349309855 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202131339349303923 · read the filing
All filings for EIN 46-2589747: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.