Cornell University
- Assets
- $17.4b
- Revenue
- $6.1b
- Investments
- $8.4b
- Employees
- 41,865
- Location
- Ithaca, NY
- Founding
- 10/1951
- Data as of
- 06/2021
- EIN
- 15-0532082
Organization Overview
Cornell University is located in Ithaca, NY. The organization was established in 1951. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 06/2022, Cornell University employed 41,865 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cornell 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 06/2021, Cornell University generated $6.1b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $5.4b during the year ending 06/2021. While expenses have increased by 3.6% 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, Cornell University has awarded 2,139 individual grants totaling $568,497,905. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION, RESEARCH, MEDICAL SERVICES AND OTHER PUBLIC SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CORNELL UNIVERSITY IS RENOWNED FOR ITS ACADEMIC RIGOR, INTELLECTUAL VIBRANCY, ENTREPRENEURIAL CHARACTER, AND THE DIVERSITY AND QUALITY OF ITS CURRICULA AND AREAS OF MULTIDISCIPLINARY RESEARCH AND STUDY. THE UNIVERSITY'S UNDERGRADUATE, GRADUATE, PROFESSIONAL, POST-DOCTORAL, AND CONTINUING EDUCATION PROGRAMS HAVE A GLOBAL REPUTATION FOR EXCELLENCE AND INNOVATION. CORNELL'S MAIN CAMPUS IS IN ITHACA, NEW YORK, WITH THE CAMPUSES OF WEILL CORNELL MEDICAL COLLEGE AND CORNELL TECH IN NEW YORK CITY. THE UNIVERSITY HAS A SIGNIFICANT INTERNATIONAL EDUCATIONAL PRESENCE, INCLUDING WEILL CORNELL MEDICAL COLLEGE'S CAMPUS IN DOHA, QATAR. DURING THE REPORTING YEAR, THE UNIVERSITY GRANTED THE FOLLOWING DEGREES: UNDERGRADUATE (3,781); MASTERS (3,756); D.V.M. (114); J.D. (199), AND PH.D., J.D., AND D.M.A. (512).
OTHER PROGRAM SERVICE ACCOMPLISHMENTS INCLUDE, BUT ARE NOT LIMITED TO, CORNELL'S LAND-GRANT MISSION, ACADEMIC CONFERENCES, PUBLICATIONS, AND ROOM AND BOARD FOR STUDENTS.
MEDICAL SERVICES, INCLUDING THE TRAINING AND EDUCATION OF PHYSICIANS, IS A PRIMARY COMPONENT OF THE UNIVERSITY'S MISSION. CORNELL IS COMMITTED TO EXCELLENCE IN PATIENT CARE, SCIENTIFIC DISCOVERY, AND THE EDUCATION OF FUTURE PHYSICIANS IN NEW YORK CITY AND AROUND THE WORLD. THE DOCTORS AND SCIENTISTS OF WEILL CORNELL MEDICINE -FACULTY FROM WEILL CORNELL MEDICAL COLLEGE, WEILL CORNELL GRADUATE SCHOOL OF MEDICAL SCIENCES, AND THE WEILL CORNELL PHYSICIAN ORGANIZATION- PROVIDE CLINICAL CARE AND RESEARCH THAT CONNECT PATIENTS TO THE LATEST TREATMENT INNOVATIONS AND PREVENTION STRATEGIES.
CORNELL HAS A LONG TRADITION OF COMBINING SCHOLARLY WORK AND LEADERSHIP IN RESEARCH -BOTH BASIC AND APPLIED- WITH PUBLIC SERVICE AND ENGAGEMENT IN NEW YORK STATE AND AROUND THE WORLD. REVENUES FROM SPONSORED AWARDS INCLUDE $873,143,000 IN DIRECT SUPPORT AND $215,008,000 IN INDIRECT COST RECOVERY. REVENUES ALSO INCLUDE GRANT AND CONTRACT REVENUE TO SUPPORT PUBLIC OUTREACH AND INSTRUCTION, THE SINGLE LARGEST PORTION IS RELATED TO RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed President | OfficerTrustee | 55 | $1,481,897 |
Name Not Listed Employee & Trustee | Trustee | 2 | $141,835 |
Name Not Listed Trustee | Trustee | 2 | $0 |
Name Not Listed Trustee | Trustee | 0.2 | $0 |
Name Not Listed Trustee | Trustee | 2 | $0 |
Name Not Listed Trustee | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
575 Lex Property Owner Llc Real Estate Management | 6/29/22 | $13,375,549 |
Gemini Consulting & Services Llc Consulting Services | 6/29/22 | $8,257,808 |
Hudson Cornell Tech Llc Real Estate Management | 6/29/22 | $7,823,389 |
Forest City Trs Llc Real Estate Management | 6/29/22 | $7,372,749 |
Sciarabba Walker & Co Llp Consulting Services | 6/29/22 | $5,802,829 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $660,310,439 |
| Investment income | $79,932,572 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $31,475,800 |
| Net Rental Income | $1,678,297 |
| Net Gain/Loss on Asset Sales | $700,181,267 |
| Net Income from Fundraising Events | -$250,606 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,763,447 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,105,457,911 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $491,826,211 |
| Grants and other assistance to Foreign Orgs/Individuals | $158,308,652 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $11,653,850 |
| Compensation to disqualified persons | $302,950 |
| Other salaries and wages | $2,377,330,217 |
| Pension plan accruals and contributions | $111,586,789 |
| Other employee benefits | $428,507,541 |
| Payroll taxes | $110,916,318 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,931,235 |
| Fees for services: Accounting | $1,900,516 |
| Fees for services: Lobbying | $537,552 |
| Fees for services: Fundraising | $626,400 |
| Fees for services: Investment Management | $36,952,901 |
| Fees for services: Other | $412,491,697 |
| Advertising and promotion | $0 |
| Office expenses | $55,305,755 |
| Information technology | $39,267,608 |
| Royalties | $22,382,133 |
| Occupancy | $228,534,471 |
| Travel | $6,842,374 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,284,595 |
| Interest | $82,439,730 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $300,458,036 |
| Insurance | $58,871,243 |
| All other expenses | $0 |
| Total functional expenses | $5,392,092,121 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $208,686,965 |
| Savings and temporary cash investments | $522,923,956 |
| Pledges and grants receivable | $751,345,090 |
| Accounts receivable, net | $544,934,746 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $55,161,420 |
| Inventories for sale or use | $9,570,092 |
| Prepaid expenses and deferred charges | $76,543,983 |
| Investments—publicly traded securities | $1,832,540,753 |
| Investments—other securities | $8,441,917,787 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $766,766,048 |
| Total assets | $17,400,544,171 |
| Accounts payable and accrued expenses | $772,613,828 |
| Grants payable | $30,026,780 |
| Deferred revenue | $239,394,021 |
| Tax-exempt bond liabilities | $945,410,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $4,451,067 |
| Unsecured mortgages and notes payable | $689,890,000 |
| Other liabilities | $1,674,251,320 |
| Total liabilities | $4,356,037,016 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $13,044,507,155 |
Grants Awarded
Over the last fiscal year, Cornell University has awarded $92,588,684 in support to 299 organizations.
| Grant Recipient | Amount |
|---|---|
1199 SEIU HOME CARE INDUSTRY PURPOSE: Research | $17,350 |
ANN & ROBERT H LURIE PURPOSE: Research | $17,727 |
BARNARD COLLEGE PURPOSE: Research | $9,900 |
BAYLOR COLLEGE OF MEDICINE PURPOSE: Research | $117,201 |
BRADLEY UNIVERSITY PURPOSE: Research | $26,674 |
ALBERT EINSTEIN COLLEGE OF MEDICINE PURPOSE: Research | $1,064,713 |