NORWICH UNIVERSITY
158 HARMON DR, NORTHFIELD, VT · IRS data through FY2025
Revenue, expenses and net assets
Revenue Expenses Net assets
| Tax year | Revenue | Expenses | Net assets |
|---|---|---|---|
| FY2025 | $191,963,960 | $199,379,384 | $439,179,407 |
| FY2024 | $198,906,593 | $198,496,012 | $426,677,471 |
| FY2023 | $192,660,298 | $196,525,026 | $392,287,164 |
| FY2022 | $203,934,578 | $193,724,043 | $413,055,689 |
| FY2021 | $181,187,651 | $177,215,212 | $456,840,239 |
| FY2020 | $177,857,949 | $178,649,098 | $332,960,063 |
| FY2019 | $178,415,780 | $174,011,657 | $330,283,229 |
| FY2018 | $170,737,618 | $167,060,923 | $327,961,048 |
| FY2017 | $160,530,250 | $161,911,665 | $309,785,046 |
| FY2016 | $146,863,976 | $147,637,534 | $289,489,051 |
| FY2015 | $162,308,235 | $144,415,969 | $304,502,734 |
| FY2014 | $167,821,469 | $135,131,152 | $291,234,080 |
| FY2013 | $139,348,968 | $130,367,398 | $240,877,546 |
| FY2012 | $117,317,871 | $126,067,930 | $207,663,143 |
Where the revenue came from
| Source | Amount | % of revenue |
|---|---|---|
| Contributions & grants | $36,201,195 | 20% |
| Program service revenue | $142,707,741 | 80% |
Where the money was spent
| Category | Amount | % of expenses |
|---|---|---|
| Program services | $176,646,072 | 89% |
| Management & general | $19,483,209 | 10% |
| Fundraising | $3,250,103 | 2% |
What the numbers show
- Program service revenue made up 80% of total revenue in FY2025.
- Program services accounted for 89% of functional expenses, management & general 10%, and fundraising 2%.
- 89% of functional expenses went to program services in FY2025. That is higher than 85.7% of 21 Education organizations in VT.
- Net assets covered about 26.4 months of expenses at the end of the reporting year. That puts it in the 67th percentile among 236 Education organizations in VT.
- Total revenue was higher than 99.6% of 236 Education organizations in VT.
- Total revenue rose from $117,317,871 in FY2012 to $191,963,960 in FY2025, Revenue increased in 8 and decreased in 5 of 13 year-over-year comparisons.
- Expenses exceeded revenue in 6 of 14 reported years (FY2012, FY2016, FY2017, FY2020, FY2023, FY2025).
- The highest revenue on record here is $203,934,578 in FY2022.
- Net assets grew from $207,663,143 to $439,179,407 between FY2012 and FY2025.
- Contributions and grants made up 6% of revenue in FY2012 and 19% in FY2025.
- Donations are generally tax-deductible (public charity).
Figures compared against other organizations of the same NTEE program area in the same state. See the methodology page for how these are calculated and the guide to reading nonprofit financials for their limits.
About this organization
Norwich's mission is to give our youth an education that shall be American in its character.
IRS status
| Ruling year | 1935 |
| Subsection | 501(c)(3) |
| Classification | Public charity |
| Program area (NTEE) | B430 — Education |
| Donations | Donations are generally tax-deductible (public charity). |
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- PRESIDENT & FELLOWS OF MIDDLEBURY COLLEGE — MIDDLEBURY, VT · $511,285,123
Source: Internal Revenue Service — Exempt Organizations Business Master File (downloaded September 20, 2026), Statistics of Income extracts, Form 990 e-file data, Publication 78 and the Automatic Revocation list. Figures are as reported by the organization; IRS processing may adjust them. This is not a charity rating and not tax advice. Confirm deductibility in IRS Tax Exempt Organization Search.
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