Trustees of the University of Pennsylvania
Public records show a registered, tax-exempt organization in good standing.
Points to look into
- It reported loans to or from officers, directors or other insiders.
These come from the organization's own tax return. There may be a good explanation; ask the charity.
What it says it does
THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA (THE "UNIVERSITY") SEES ITSELF AS HAVING A PUBLIC SERVICE MISSION. IN SUCH REGARD, THE UNIVERSITY AIMS TO PROVIDE A RICH AND DIVERSE EDUCATIONAL ENVIRONMENT FOR ITS STUDENTS; TO PIONEER RESEARCH THAT PUSHES THE BOUNDARIES OF CURRENT HUMAN KNOWLEDGE; AND TO PROVIDE THE MOST CURRENT AND HIGHEST QUALITY PATIENT CARE THROUGH THE UNIVERSITY HEALTH SYSTEM.
- Income
- $11.7 billion
- Spending
- $11.0 billion
- Spent on programs
- 90%
- Reserves
- 10.4 months of spending
- Largest source of income
- fees for its services, 70%
- Employees
- 63,003
- Volunteers
- 29,873
- Highest pay
- $8.0 million, trustee & pres.- as of 3/13/25
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 89 out of 100. Higher than 80% of charities in its peer group (education, over $100m).
Reserves
28 of 35Spendable reserves would cover 10.4 months of spending.
Debt
16 of 20It owes 21% of what it owns.
Living within its means
15 of 15Income exceeded spending by 6% of income.
Income trend
15 of 15Income rose 9% on the year before.
Spending floor
15 of 1590% of spending went to programs and raising each dollar of donations cost 7 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 90 out of 100. Higher than 14% of charities in its peer group (education, over $100m).
Independent board
25 of 2538 of 40 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
0 of 10Reports at least one of: diversion of assets, excess benefits, loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Reports results. Its tax return states measurable results. These are its own figures and nobody has checked them.
Results it reports
- Of 72,544 applicants for the Class of 2029, 3,570 were offered admission.Work delivered
- Of 72,544 applicants for the Class of 2029, 3,570 were offered admission.Work delivered
Read from the return by an AI model and shown only where the wording was found in the return. These are the charity's own figures.
Programs described in its return (2)
- $4.8 billion spent. EDUCATION, RESEARCH AND PUBLIC CHARITY- SEE SCHEDULE O FOR ADDITIONAL INFORMATION TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS THE UNIVERSITY OF PENNSYLVANIA ("PENN"UNIVERSITY") IS ONE OF THE OLDEST UNIVERSITIES IN THE UNITED STATES. IT TRACES ITS ORIGINS BACK TO A CHARITY SCHOOL FOUNDED IN 1740, WAS CHARTERED AS A COLLEGE IN 1755, AND, ON MAY 17, 1757, HELD ITS FIRST COMMENCEMENT, GRADUATING A CLASS OF SEVEN STUDENTS. FROM THESE EARLY AND MODEST BEGINNINGS, PENN HAS GROWN INTO ONE OF THE LEADING RESEARCH AND EDUCATIONAL INSTITUTIONS IN THE UNITED STATES AND IN THE WORLD. PUBLIC SERVICE IS A TOP INSTITUTIONAL PRIORITY FOR PENN. AS SUCH, THE UNIVERSITY AIMS TO PROVIDE A RICH AND DIVERSE EDUCATIONAL ENVIRONMENT FOR ITS STUDENTS; TO PIONEER RESEARCH THAT PUSHES THE BOUNDARIES OF CURRENT HUMAN KNOWLEDGE; AND TO PROVIDE THE MOST CURRENT AND HIGHEST QUALITY IN PATIENT CARE THROUGH THE UNIVERSITY HEALTH SYSTEM. THE UNIVERSITY IS HOME TO THE UNIVERSITY OF PENNSYLVANIA MUSEUM OF ARCHAEOLOGY AND ANTHROPOLOGY, THE INSTITUTE FOR CONTEMPORARY ART, AND THE ANNENBERG CENTER FOR THE PERFORMING ARTS, ALL OF WHICH CONTRIBUTE VITALLY TO ENRICHING THE CULTURAL LIFE OF PHILADELPHIA. IN ADDITION, THE UNIVERSITY IS AN ACTIVE PARTICIPANT IN THE WEST PHILADELPHIA NEIGHBORHOOD THAT IS ITS HOME. I. EDUCATION PENN'S FIRM BELIEF THAT EXCELLENCE AND DIVERSITY GO HAND-IN-HAND IS EVIDENCED BY FY 2025'S CONCOMITANT INCREASES IN ADMISSIONS SELECTIVITY AND CAMPUS MULTICULTURALISM. OF 72,544 STUDENTS WHO APPLIED FOR THE CLASS OF 2029, ONLY 3,570, OR 4.9 PERCENT, WERE OFFERED ADMISSION. FIFTY-THREE PERCENT OF THE ADMITTED CLASS WERE ASSIGNED FEMALE AT BIRTH, AND 47 PERCENT WERE ASSIGNED MALE. THIS EXCEPTIONAL CLASS HAS, AT THE SAME TIME, CONTRIBUTED TO PENN'S ONGOING GROWTH IN DIVERSITY: AMONG UNITED STATES CITIZENS AND PERMANENT RESIDENTS AT PENN, 56.6 PERCENT SELF-IDENTIFY AS STUDENTS OF COLOR. 20.8 PERCENT OF ENROLLED STUDENTS IN THE CLASS OF 2029 IDENTIFY AS FIRST-GENERATION COLLEGE STUDENTS. OF THE 13.1 PERCENT OF INTERNATIONAL STUDENTS ENROLLED IN THE CLASS OF 2029, 43.1 PERCENT WERE FROM ASIA, 19.8 PERCENT FROM EUROPE, 12.9 PERCENT FROM CANADA AND MEXICO, 10.7 PERCENT FROM CENTRAL AND SOUTH AMERICA AND THE CARIBBEAN, 10.1 PERCENT FROM AFRICA, AND 3.5 PERCENT WERE FROM AUSTRALIA AND THE PACIFIC. IN FY 2025, THE AVERAGE FRESHMAN AID PACKAGE WAS $73,405. THIS REPRESENTS A 3.8% INCREASE FROM FY 2024. SINCE FY 2008, WHEN PENN BEGAN ITS GRANT-BASED FINANCIAL AID POLICY, THE AVERAGE FRESHMAN AID PACKAGE HAS INCREASED BY 147 PERCENT. LAUNCHED IN NOVEMBER 2024, THE QUAKER COMMITMENT REAFFIRMS AND EXPANDS PENN'S UNDERGRADUATE FINANCIAL AID PROGRAM, ENSURING ALL AIDED STUDENTS RECEIVE GRANT-BASED PACKAGES THAT MEET 100% OF DEMONSTRATED NEED, WITHOUT LOANS. STUDENTS FROM FAMILIES EARNING LESS THAN $75,000 (WITH TYPICAL ASSETS) RECEIVE A FINANCIAL AID PACKAGE THAT COVERS AT LEAST TUITION, ROOM AND BOARD, AND ASSOCIATED EXPENSES. THESE STUDENTS ALSO HAVE ACCESS TO SUMMER INTERNSHIP OPPORTUNITIES, LAPTOPS, AND OTHER SUPPLEMENTAL FUNDING INITIATIVES. THE QUAKER COMMITMENT ALSO EXPANDS SUPPORT FOR MIDDLE- AND LOWER-INCOME FAMILIES: UNDERGRADUATE STUDENTS WHOSE FAMILIES MAKE UP TO $200,000 (WITH TYPICAL ASSETS) RECEIVE A FINANCIAL AID PACKAGE THAT COVERS AT LEAST THE FULL COST OF TUITION. THE PROGRAM ALSO REMOVES PRIMARY HOME EQUITY FROM THE FINANCIAL AID ASSESSMENT PROCESS. IN FEBRUARY 2025, THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA ANNOUNCED A $328 MILLION UNDERGRADUATE FINANCIAL AID BUDGET FOR THE 2025-26 ACADEMIC YEAR THAT EXPANDS ACCESS. THIS IS A 6.4% INCREASE IN AID EXPENDITURES FROM 2024-25, DRIVEN LARGELY BY THE QUAKER COMMITMENT FINANCIAL AID INITIATIVE, WHICH IS BEING APPLIED FOR THE FIRST TIME IN ACADEMIC YEAR 2025-26. RANKED NO. 7 AMONG ALL NATIONAL UNIVERSITIES BY U.S. NEWS & WORLD REPORT, PENN IS CONSISTENTLY RECOGNIZED FOR HAVING SOME OF THE TOP ACADEMIC PROGRAMS IN THE COUNTRY. PENN'S UNDERGRADUATE BUSINESS PROGRAM IS RANKED NO. 1 NATIONALLY, WHILE PENN'S GRADUATE PROGRAMS IN BUSINESS AND NURSING ARE CONSISTENTLY RANKED IN THE TOP SIX NATIONWIDE. THE PERELMAN SCHOOL OF MEDICINE AT THE UNIVERSITY OF PENNSYLVANIA HAS BEEN RANKED AMONG THE TOP MEDICAL SCHOOLS IN THE UNITED STATES FOR THE PAST 20 YEARS, ACCORDING TO U.S. NEWS & WORLD REPORT'S SURVEY OF RESEARCH-ORIENTED MEDICAL SCHOOLS. IN FY 2025, PENN RECEIVED $686.7 MILLION IN FUNDING FROM THE NATIONAL INSTITUTES OF HEALTH (NIH). OF THE $686.7 MILLION, THE PERELMAN SCHOOL OF MEDICINE RECEIVED $589.5 MILLION. THE SCHOOL IS CONSISTENTLY AMONG THE NATION'S TOP RECIPIENTS OF FUNDING FROM NIH. II. RESEARCH PENN IS ONE OF THE TOP RESEARCH UNIVERSITIES IN THE WORLD, WITH MORE THAN $2.18 BILLION IN ANNUAL R&D EXPENDITURES FOR FY 2025. THE UNIVERSITY GENERATES GROUNDBREAKING DISCOVERIES IN THE FIELDS OF MEDICINE, TECHNOLOGY, BUSINESS, SCIENCE, AND BEYOND, AND APPLIES THIS KNOWLEDGE TO IMPROVE THE LIVES OF INDIVIDUALS AND COMMUNITIES AT HOME AND ABROAD. IN FALL 2024, LUKA KRIZANAC BECAME THE PERELMAN SCHOOL OF MEDICINE'S FIFTH HAND TRANSPLANT RECIPIENT, A MILESTONE IN THE PROGRAM'S INTERNATIONAL LEADERSHIP IN THE HIGHLY SPECIALIZED FIELD OF VASCULARIZED COMPOSITE ALLOTRANSPLANTATION. IT WAS THE FIRST SURGERY OF ITS KIND AT THE HOSPITAL OF THE UNIVERSITY OF PENNSYLVANIA SINCE 2019. SIX MONTHS AFTER KRIZANAC'S BILATERAL HAND TRANSPLANT AT PENN MEDICINE, HE IS ABLE TO DO TASKS THAT WERE IMPOSSIBLE BEFORE HIS TRANSPLANT: TYPING ON HIS IPHONE, PICKING UP FOOD TO EAT, AND HOLDING A CUP. PENN INTEGRATES KNOWLEDGE PROFESSORS HOLD APPOINTMENTS IN TWO OR MORE SCHOOLS AT PENN AND DRAW ON THEIR BREADTH OF KNOWLEDGE TO COLLABORATE WITH COLLEAGUES ACROSS DISCIPLINES ON BOUNDARY-BREAKING RESEARCH TO ILLUMINATE SOME OF THE MOST FUNDAMENTAL ISSUES OF OUR TIME. BROADENING AND DEEPENING THE UNIVERSITY'S COMMITMENT TO INTERDISCIPLINARY KNOWLEDGE, IN NOVEMBER 2024, SQUIRE BOOKER WAS APPOINTED A PENN INTEGRATES KNOWLEDGE UNIVERSITY PROFESSOR. BOOKER WAS
- $5.1 billion spent. TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS THE UNIVERSITY OF PENNSYLVANIA ("PENN"UNIVERSITY") IS ONE OF THE OLDEST UNIVERSITIES IN THE UNITED STATES. IT TRACES ITS ORIGINS BACK TO A CHARITY SCHOOL FOUNDED IN 1740, WAS CHARTERED AS A COLLEGE IN 1755, AND, ON MAY 17, 1757, HELD ITS FIRST COMMENCEMENT, GRADUATING A CLASS OF SEVEN STUDENTS. FROM THESE EARLY AND MODEST BEGINNINGS, PENN HAS GROWN INTO ONE OF THE LEADING RESEARCH AND EDUCATIONAL INSTITUTIONS IN THE UNITED STATES AND IN THE WORLD. PUBLIC SERVICE IS A TOP INSTITUTIONAL PRIORITY FOR PENN. AS SUCH, THE UNIVERSITY AIMS TO PROVIDE A RICH AND DIVERSE EDUCATIONAL ENVIRONMENT FOR ITS STUDENTS; TO PIONEER RESEARCH THAT PUSHES THE BOUNDARIES OF CURRENT HUMAN KNOWLEDGE; AND TO PROVIDE THE MOST CURRENT AND HIGHEST QUALITY IN PATIENT CARE THROUGH THE UNIVERSITY HEALTH SYSTEM. THE UNIVERSITY IS HOME TO THE UNIVERSITY OF PENNSYLVANIA MUSEUM OF ARCHAEOLOGY AND ANTHROPOLOGY, THE INSTITUTE FOR CONTEMPORARY ART, AND THE ANNENBERG CENTER FOR THE PERFORMING ARTS, ALL OF WHICH CONTRIBUTE VITALLY TO ENRICHING THE CULTURAL LIFE OF PHILADELPHIA. IN ADDITION, THE UNIVERSITY IS AN ACTIVE PARTICIPANT IN THE WEST PHILADELPHIA NEIGHBORHOOD THAT IS ITS HOME. I. EDUCATION PENN'S FIRM BELIEF THAT EXCELLENCE AND DIVERSITY GO HAND-IN-HAND IS EVIDENCED BY FY 2025'S CONCOMITANT INCREASES IN ADMISSIONS SELECTIVITY AND CAMPUS MULTICULTURALISM. OF 72,544 STUDENTS WHO APPLIED FOR THE CLASS OF 2029, ONLY 3,570, OR 4.9 PERCENT, WERE OFFERED ADMISSION. FIFTY-THREE PERCENT OF THE ADMITTED CLASS WERE ASSIGNED FEMALE AT BIRTH, AND 47 PERCENT WERE ASSIGNED MALE. THIS EXCEPTIONAL CLASS HAS, AT THE SAME TIME, CONTRIBUTED TO PENN'S ONGOING GROWTH IN DIVERSITY: AMONG UNITED STATES CITIZENS AND PERMANENT RESIDENTS AT PENN, 56.6 PERCENT SELF-IDENTIFY AS STUDENTS OF COLOR. 20.8 PERCENT OF ENROLLED STUDENTS IN THE CLASS OF 2029 IDENTIFY AS FIRST-GENERATION COLLEGE STUDENTS. OF THE 13.1 PERCENT OF INTERNATIONAL STUDENTS ENROLLED IN THE CLASS OF 2029, 43.1 PERCENT WERE FROM ASIA, 19.8 PERCENT FROM EUROPE, 12.9 PERCENT FROM CANADA AND MEXICO, 10.7 PERCENT FROM CENTRAL AND SOUTH AMERICA AND THE CARIBBEAN, 10.1 PERCENT FROM AFRICA, AND 3.5 PERCENT WERE FROM AUSTRALIA AND THE PACIFIC. IN FY 2025, THE AVERAGE FRESHMAN AID PACKAGE WAS $73,405. THIS REPRESENTS A 3.8% INCREASE FROM FY 2024. SINCE FY 2008, WHEN PENN BEGAN ITS GRANT-BASED FINANCIAL AID POLICY, THE AVERAGE FRESHMAN AID PACKAGE HAS INCREASED BY 147 PERCENT. LAUNCHED IN NOVEMBER 2024, THE QUAKER COMMITMENT REAFFIRMS AND EXPANDS PENN'S UNDERGRADUATE FINANCIAL AID PROGRAM, ENSURING ALL AIDED STUDENTS RECEIVE GRANT-BASED PACKAGES THAT MEET 100% OF DEMONSTRATED NEED, WITHOUT LOANS. STUDENTS FROM FAMILIES EARNING LESS THAN $75,000 (WITH TYPICAL ASSETS) RECEIVE A FINANCIAL AID PACKAGE THAT COVERS AT LEAST TUITION, ROOM AND BOARD, AND ASSOCIATED EXPENSES. THESE STUDENTS ALSO HAVE ACCESS TO SUMMER INTERNSHIP OPPORTUNITIES, LAPTOPS, AND OTHER SUPPLEMENTAL FUNDING INITIATIVES. THE QUAKER COMMITMENT ALSO EXPANDS SUPPORT FOR MIDDLE- AND LOWER-INCOME FAMILIES: UNDERGRADUATE STUDENTS WHOSE FAMILIES MAKE UP TO $200,000 (WITH TYPICAL ASSETS) RECEIVE A FINANCIAL AID PACKAGE THAT COVERS AT LEAST THE FULL COST OF TUITION. THE PROGRAM ALSO REMOVES PRIMARY HOME EQUITY FROM THE FINANCIAL AID ASSESSMENT PROCESS. IN FEBRUARY 2025, THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA ANNOUNCED A $328 MILLION UNDERGRADUATE FINANCIAL AID BUDGET FOR THE 2025-26 ACADEMIC YEAR THAT EXPANDS ACCESS. THIS IS A 6.4% INCREASE IN AID EXPENDITURES FROM 2024-25, DRIVEN LARGELY BY THE QUAKER COMMITMENT FINANCIAL AID INITIATIVE, WHICH IS BEING APPLIED FOR THE FIRST TIME IN ACADEMIC YEAR 2025-26. RANKED NO. 7 AMONG ALL NATIONAL UNIVERSITIES BY U.S. NEWS & WORLD REPORT, PENN IS CONSISTENTLY RECOGNIZED FOR HAVING SOME OF THE TOP ACADEMIC PROGRAMS IN THE COUNTRY. PENN'S UNDERGRADUATE BUSINESS PROGRAM IS RANKED NO. 1 NATIONALLY, WHILE PENN'S GRADUATE PROGRAMS IN BUSINESS AND NURSING ARE CONSISTENTLY RANKED IN THE TOP SIX NATIONWIDE. THE PERELMAN SCHOOL OF MEDICINE AT THE UNIVERSITY OF PENNSYLVANIA HAS BEEN RANKED AMONG THE TOP MEDICAL SCHOOLS IN THE UNITED STATES FOR THE PAST 20 YEARS, ACCORDING TO U.S. NEWS & WORLD REPORT'S SURVEY OF RESEARCH-ORIENTED MEDICAL SCHOOLS. IN FY 2025, PENN RECEIVED $686.7 MILLION IN FUNDING FROM THE NATIONAL INSTITUTES OF HEALTH (NIH). OF THE $686.7 MILLION, THE PERELMAN SCHOOL OF MEDICINE RECEIVED $589.5 MILLION. THE SCHOOL IS CONSISTENTLY AMONG THE NATION'S TOP RECIPIENTS OF FUNDING FROM NIH. II. RESEARCH PENN IS ONE OF THE TOP RESEARCH UNIVERSITIES IN THE WORLD, WITH MORE THAN $2.18 BILLION IN ANNUAL R&D EXPENDITURES FOR FY 2025. THE UNIVERSITY GENERATES GROUNDBREAKING DISCOVERIES IN THE FIELDS OF MEDICINE, TECHNOLOGY, BUSINESS, SCIENCE, AND BEYOND, AND APPLIES THIS KNOWLEDGE TO IMPROVE THE LIVES OF INDIVIDUALS AND COMMUNITIES AT HOME AND ABROAD. IN FALL 2024, LUKA KRIZANAC BECAME THE PERELMAN SCHOOL OF MEDICINE'S FIFTH HAND TRANSPLANT RECIPIENT, A MILESTONE IN THE PROGRAM'S INTERNATIONAL LEADERSHIP IN THE HIGHLY SPECIALIZED FIELD OF VASCULARIZED COMPOSITE ALLOTRANSPLANTATION. IT WAS THE FIRST SURGERY OF ITS KIND AT THE HOSPITAL OF THE UNIVERSITY OF PENNSYLVANIA SINCE 2019. SIX MONTHS AFTER KRIZANAC'S BILATERAL HAND TRANSPLANT AT PENN MEDICINE, HE IS ABLE TO DO TASKS THAT WERE IMPOSSIBLE BEFORE HIS TRANSPLANT: TYPING ON HIS IPHONE, PICKING UP FOOD TO EAT, AND HOLDING A CUP. PENN INTEGRATES KNOWLEDGE PROFESSORS HOLD APPOINTMENTS IN TWO OR MORE SCHOOLS AT PENN AND DRAW ON THEIR BREADTH OF KNOWLEDGE TO COLLABORATE WITH COLLEAGUES ACROSS DISCIPLINES ON BOUNDARY-BREAKING RESEARCH TO ILLUMINATE SOME OF THE MOST FUNDAMENTAL ISSUES OF OUR TIME. BROADENING AND DEEPENING THE UNIVERSITY'S COMMITMENT TO INTERDISCIPLINARY KNOWLEDGE, IN NOVEMBER 2024, SQUIRE BOOKER WAS APPOINTED A PENN INTEGRATES KNOWLEDGE UNIVERSITY PROFESSOR. BOOKER WAS NAMED THE RICHARD PERRY UNIVERSITY PROFESSOR IN THE DEPARTMENT OF CHEMISTRY IN TH
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated November 6, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since October 1940.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated November 4, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.