Northeastern University
- Assets
- $5.5b
- Revenue
- $2.4b
- Investments
- $1.1b
- Employees
- 20,377
- Location
- Boston, MA
- Founding
- 04/1995
- Data as of
- 06/2022
- EIN
- 04-1679980
Organization Overview
Northeastern University is located in Boston, MA. The organization was established in 1995. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. As of 06/2022, Northeastern University employed 20,377 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeastern University is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Northeastern University generated $2.4b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $2.1b during the year ending 06/2022. While expenses have increased by 7.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Northeastern University has awarded 953 individual grants totaling $189,570,495. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O.
Describe the Organization's Program Activity:
INSTRUCTION NORTHEASTERN ENABLES 44,867 STUDENTS TO FULFILL THEIR EDUCATIONAL GOALS BY PROVIDING TEACHING AND ADVISING THAT RESULT IN THE GRANTING OF ASSOCIATE, BACHELOR, MASTER AND DOCTORAL DEGREES IN A VARIETY OF ACADEMIC DISCIPLINES. THE UNIVERSITY'S ACADEMIC AREA CONSISTS OF THE BOUVE COLLEGE OF HEALTH SCIENCE, COLLEGE OF ARTS, MEDIA AND DESIGN, D'AMORE-MCKIM SCHOOL OF BUSINESS, COLLEGE OF COMPUTER AND INFORMATION SCIENCE, COLLEGE OF ENGINEERING, COLLEGE OF PROFESSIONAL STUDIES, COLLEGE OF SCIENCE, COLLEGE OF SOCIAL SCIENCES AND HUMANITIES, AND SCHOOL OF LAW.
STUDENT FINANCIAL AID NORTHEASTERN AWARDS GRANTS AND SCHOLARSHIPS TO STUDENTS FROM SEVERAL SOURCES: FEDERAL AND STATE GOVERNMENTS, INSTITUTIONALLY-FUNDED AND ENDOWMENT/DONOR FUNDED. THE OFFICE OF STUDENT FINANCIAL SERVICES ADMINISTERS FINANCIAL AID AND IS COMMITTED TO WORKING WITH STUDENTS TO IDENTIFY FINANCIAL AID OPTIONS THAT CAN HELP MAKE A NORTHEASTERN EDUCATION AFFORDABLE.
AUXILIARY ENTERPRISES NORTHEASTERN PROVIDES STUDENT HOUSING IN 34 RESIDENTIAL BUILDINGS AND OTHER RELATED PROGRAM SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph E Aoun President/trustee | OfficerTrustee | 40 | $2,568,096 |
Diane N Macgillivray SVP Of University Advancement | Officer | 40 | $1,242,785 |
Ralph C Martin II SVP & Gen Counsel(until 12/21) | Officer | 40 | $1,227,042 |
Thomas Nedell SVP Finance And Treasurer | Officer | 40 | $919,600 |
David Madigan Provost & SVP | Officer | 40 | $931,137 |
Michael A Armini SVP - External Affairs | Officer | 40 | $833,270 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Suffolk Construction Co Inc Construction | 6/29/22 | $85,703,658 |
Compass Group Food Services | 6/29/22 | $23,973,771 |
Life Technologies Corp Applied Science | 6/29/22 | $17,096,778 |
Accenture Llp Technology Svcs | 6/29/22 | $17,096,355 |
Abm Industry Groups Llc Facility Svcs | 6/29/22 | $15,513,592 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $189,926 |
| Related organizations | $0 |
| Government grants | $155,623,130 |
| All other contributions, gifts, grants, and similar amounts not included above | $118,237,870 |
| Noncash contributions included in lines 1a–1f | $16,712,828 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $274,050,926 |
| Total Program Service Revenue | $1,980,951,936 |
| Investment income | $15,403,308 |
| Tax Exempt Bond Proceeds | $97 |
| Royalties | $924,781 |
| Net Rental Income | $7,001,783 |
| Net Gain/Loss on Asset Sales | $105,157,754 |
| Net Income from Fundraising Events | -$76,805 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,393,370,957 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $29,936,593 |
| Grants and other assistance to domestic individuals. | $485,865,509 |
| Grants and other assistance to Foreign Orgs/Individuals | $715,995 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $12,031,280 |
| Compensation of current officers, directors, key employees. | $7,690,945 |
| Compensation to disqualified persons | $1,633,776 |
| Other salaries and wages | $687,787,247 |
| Pension plan accruals and contributions | $40,926,532 |
| Other employee benefits | $76,551,915 |
| Payroll taxes | $40,640,092 |
| Fees for services: Management | $633,377 |
| Fees for services: Legal | $8,611,559 |
| Fees for services: Accounting | $559,573 |
| Fees for services: Lobbying | $529,995 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $3,232,299 |
| Fees for services: Other | $20,676,499 |
| Advertising and promotion | $15,041,704 |
| Office expenses | $51,126,305 |
| Information technology | $75,988,337 |
| Royalties | $265,645 |
| Occupancy | $159,792,909 |
| Travel | $27,621,040 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,556,339 |
| Interest | $34,423,752 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $93,594,026 |
| Insurance | $5,284,596 |
| All other expenses | $126,944,854 |
| Total functional expenses | $2,146,870,270 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $41,991,000 |
| Savings and temporary cash investments | $269,496,000 |
| Pledges and grants receivable | $236,262,000 |
| Accounts receivable, net | $151,006,000 |
| Loans from Officers, Directors, or Controlling Persons | $2,700,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $15,077,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $12,265,000 |
| Net Land, buildings, and equipment | $2,483,383,000 |
| Investments—publicly traded securities | $754,921,000 |
| Investments—other securities | $1,099,811,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $389,366,000 |
| Total assets | $5,456,278,000 |
| Accounts payable and accrued expenses | $254,393,000 |
| Grants payable | $15,304,000 |
| Deferred revenue | $227,604,000 |
| Tax-exempt bond liabilities | $548,720,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $485,420,000 |
| Unsecured mortgages and notes payable | $29,238,000 |
| Other liabilities | $424,345,000 |
| Total liabilities | $1,985,024,000 |
| Net assets without donor restrictions | $2,355,652,000 |
| Net assets with donor restrictions | $1,115,602,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,456,278,000 |
Grants Awarded
Over the last fiscal year, Northeastern University has awarded $29,461,341 in support to 152 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN UNIVERSITY PURPOSE: SUB-AWARD | $28,800 |
BOSTON MEDICAL CENTER CORPORATION PURPOSE: SUB-AWARD | $273,800 |
BOARD OF TRUSTEES OF WHITMAN COLLEGE PURPOSE: SUB-AWARD | $22,312 |
BOSTON CHILDRENS HOSPITAL PURPOSE: SUB-AWARD | $75,688 |
BOSTON UNIVERSITY PURPOSE: SUB-AWARD | $139,873 |
BETH ISRAEL DEACONESS MEDICAL CENTER INC PURPOSE: SUB-AWARD | $434,530 |