Major Categories of Revenue
Tuition and fees net of financial aid for undergraduate and graduate students is the primary source of NYU's revenue, accounting for 58% of the total budget. The combined increase in undergraduate tuition and fees in the fiscal year 2023 budget over the prior year is 2.95%, with freshman room and board charges at Washington Square increasing by 3%. The combined rate of increase is significantly below the average compared to a peer group of 25 private non-profit colleges and universities.
Student housing and dining contribute 9% of operating revenue, while all other auxiliary operations account for 1% of the total. Sponsored research and sponsored educational programs account for 10% and 8% of total operating revenue, respectively.
Expendable philanthropic contributions account for 4% of total revenue for operations. Gifts to endowment and construction (i.e., not expendable for operations) are in addition to this total.
Endowment distributions and earnings on short-term investments of operating cash balances provide 5% of the revenue budget. Although the NYU endowment is large in absolute dollars, with a market value on August 31, 2022, of approximately $5.3 billion (including NYU Langone Health), it is small relative to the number of students enrolled at NYU. In a national study by NACUBO of 733 college and university endowments in January 2022, NYU's total endowment (including the School of Medicine) was the 25th largest in total market value among U.S. universities but 185th in endowment per student ($108,118 per FTE student). A note on endowment performance can be found on the Investment Office web page.
Income from real estate represents 2% of the revenue budget, clinical income from dental patient care provides 1% of operating revenue, and all other sources of revenue total 2%.
