Amount: $1,441M (FY 2023)

Gross tuition and fees (student tuition before financial aid) includes amounts charged to students or participants in exchange for instruction or course credit.

This amount also includes mandatory fees assessed to all students such as the undergraduate and graduate student activity fee.

Historical Tuition Rates

Tuition Rates

College	2022-2023	2021-2022	2020-2021	2019-2020
Endowed Ithaca	$62,456	$60,286	$58,586	$56,550
Contract College - Resident	$41,958	$40,382	$39,244	$37,880
Contract College – Nonresident	$62,456	$60,286	$58,586	$56,550
Medical Campus	$64,500	$62,650	$61,110	$58,760
Business	$76,690	$74,026	$71,940	$69,440
Law	$74,098	$71,522	$70,188	$67,748
Veterinary Medicine	$39,900	$39,206	$38,250	$37,136

Fall Enrollment Totals

Fall Enrollment

Class	2022-2023	2021-2022	2020-2021	2019-2020
Undergraduate	15,735	15,503	14,743	15,043
Graduate	8,146	8,021	7,122	7,169
Professional	3,344	3,429	3,077	3,142
Total Fall Enrollment	27,225	26,953	24,942	25,354

Amount: $153M (FY 2023)

State and federal appropriations are typically awarded based on legislation and not through an application process.

• State appropriations: Funds distributed through the State University of New York (SUNY).
• Federal appropriations: Funds distributed through various federal agencies for land grant institutions like Cornell, used for agricultural education and research, other special research projects, and extension activities.
• Federal financial aid, such as Pell grants and Perkins loans, is “passed through” Cornell and not considered revenue. This funding is recorded as either a payment on a receivable or as a liability.

Amount: $996M (FY 2023)

Also known as sponsored programs revenue, grant and contract revenue is:

• Generated from an external entity, such as a governmental agency, a corporation, or private foundation. 
• Recorded as sponsored revenue when it is for an activity with a defined budget, a period of performance, and a scope of work undertaken by the university. Outcome expected to directly benefits the resource provider.
• Earned and recognized when expenses have been incurred, except as otherwise provided for in the terms and conditions of the award.

Sponsored Funding by Major Source

The majority of sponsored funding for research and mission-related activities comes from the federal Department of Health and Human Services, the National Science Foundation, and non-federal foundations.

 

External Sponsor Funding by Major Source table

Amount: $335M (FY 2023)

Contributions are cash gifts (contributions) received during the period covered by the Operating Budget Activity. Only cash gifts, not pledges, are recorded in the Operating Budget or Sources and Uses statement.

Amount: $398M (FY 2023)

The Board of Trustees, in consultation with the finance committee, is responsible for the university’s endowment payout (distribution) policy. 

The board approves the endowment payout for the coming fiscal year at the January meeting. 

The payout is set annually by the Board of Trustees within a range of 4.4% of a twenty-eight-quarter rolling average, plus or minus 0.75%.  Our target is not to exceed 5% of the twenty-eight-quarter value.

Endowment Payout

Historical Withdrawals of the Long-Term Investment Pool (LTIP)

Payout (Withdrawal) Rates

Long-Term Investment	FY23 Actual	FY22 Actual	FY21 Actual	FY20 Actual	FY19 Actual
LTI Rate of Return	3.6%	-1.3%	41.9%	1.90%	5.30%
LTIP Annual Payout Rate per Share	$2.57	$2.39	$2.45	$2.45	$2.48
LTIP Payout Distributed (millions)	$332.78	$301.84	$300.23	$292.40	$290.40
LTIP Admin Fee (millions)	$53.69	$50.02	$49.78	$48.61	$44.30
LTIP Special Distribution (millions)			$15.00	$86.30
Total LTIP Withdrawal (millions)	$386.47	$351.86	$365.01	$427.31	$334.70

Amount: $1,362M (FY 2023)

This amount includes Weill Cornell's Medical Physician Organization clinical practice income from professional services to patients and revenues generated by physician members conducting instructional and research activities. 

Amount: $203M (FY 2023)

An auxiliary enterprise is a non-academic entity that exists predominantly to furnish goods or services to students, faculty, or staff, and that charges a fee directly related to, although not necessarily equal to, the cost of the goods or services.

The university’s auxiliary enterprises include housing, dining, conference services, and retail operations (Cornell Store).

Amount: $996M (FY 2023)

This amount includes revenues associated with non-credit education-related programs and other sales and service activities that occur in many units throughout the university.

Examples of such programs include executive education programs, Statler Hotel, Cornell University Hospital for Animals, royalty income, athletic programs and ticket revenue, rental income, student health insurance premiums, and Weill Cornell Medicine-Qatar.

Amount: $3,483M (FY 2023)

This amount includes salaries, wages, other compensation, and benefits for all non-contract college employees. 

The State of New York pays the benefits for all contract college employees. 

Historical Workforce Numbers

Amount: $640M (FY 2023)

This amount represents the financial support awarded by the university on the basis of financial need to individual undergraduate students to offset some portion of the amount of tuition and/or room and board billed to the student. Merit scholarships are not awarded.

For graduate students, the amount of financial aid awarded may be based on financial need and/or student merit.

This amount also includes the stipends awarded to students, typically as a component of a fellowship award or appointment as a graduate teaching or research assistant.

Cornell Undergraduate Financial Aid Goals

How Aid Packages Are Constructed

Differences Between Undergraduate and Graduate Aid

Sources of Undergraduate Financial Aid

Amount: $1,261M (FY 2023)

General expenses are the costs necessary to maintain the university’s daily operations and administer its business. Purchased services are expenses associated with services contracted for and performed by a third party rather than the university’s internal staff.

Examples of general expenses include office supplies, laboratory supplies, communication, travel, insurance, etc.

Examples of purchased services include search firms, technology companies, independent consultants, caterers, performers, etc.

Amount: $81M (FY 2023) 

This amount includes the cost of maintaining and operating the university’s physical plant.

Examples of such costs include utilities, routine and preventive maintenance, and lease rental costs. 

Amount: $115M (FY 2023) 

Debt service is an internally billed amount covering the repayment of principal and interest on loans the university provided to individual operating units.

Debt proceeds from external borrowings are typically managed as a university pooled resource (a.k.a., the university bond pool) and allocated out to specific units for specific projects.

Operating units repay these loans to the university bond pool through the debt service accounted for in the operating budget. Resources within the university bond pool are used to pay principal and interest to external bond holders, but this activity is not reported through the university operating budget.

Amount: $135M (FY 2023)

These expenses are personnel and non-personnel costs associated with all educational program and research operations of the Weill Cornell Medicine campus in Qatar. 

Amount: $5M (FY 2023)

A reserve amount established to satisfy unexpected obligations.