National Center for Education Statistics

Table 5. Amount and percentage distribution of revenues and expenses of all Title IV institutions and administrative offices, by level and control of institution or administrative office, accounting standards utilized, and source of funds and type of expense: United States, fiscal year 2021
Source of funds		4-year			2-year			Less-than-2-year
		Revenues or expenses (in thousands)	Percent		Revenues or expenses (in thousands)	Percent		Revenues or expenses (in thousands)	Percent
		Public institutions (GASB standards)1
Total revenues and investment return		$425,204,805	100.0		$59,222,535	100.0		$1,073,173	100.0
Operating revenues		229,666,915	54.0		15,519,776	26.2		344,545	32.1
Tuition and fees (net of allowances and discounts)		70,686,861	16.6		7,571,591	12.8		156,120	14.5
Grants and contracts		53,822,229	12.7		6,124,368	10.3		129,082	12.0
Federal (excludes FDSL loans)		32,226,083	7.6		2,762,385	4.7		36,054	3.4
State		6,508,268	1.5		2,850,910	4.8		59,320	5.5
Local		2,358,418	0.6		281,176	0.5		32,063	3.0
Private		12,729,460	3.0		229,896	0.4		1,645	0.2
Sales and services of auxiliary enterprises after deducting discounts and allowances		18,448,951	4.3		827,752	1.4		—	—
Sales and services of hospitals		61,091,523	14.4		0	0		—	—
Sales and services of educational activities		11,790,242	2.8		121,098	0.2		6,711	0.6
Independent operations		2,121,290	0.5		0	0		—	—
Other operating revenues		11,705,819	2.8		874,966	1.5		52,633	4.9
Nonoperating revenues		171,774,912	40.4		41,300,658	69.7		632,490	58.9
Appropriations		66,112,599	15.5		26,493,232	44.7		451,314	42.1
Federal		2,038,582	0.5		182,786	0.3		19,815	1.8
State		60,748,768	14.3		14,164,336	23.9		253,580	23.6
Local		3,325,249	0.8		12,146,109	20.5		177,919	16.6
Nonoperating grants		31,590,404	7.4		12,715,956	21.5		157,998	14.7
Federal		25,761,442	6.1		10,555,967	17.8		135,666	12.6
State		5,461,856	1.3		1,999,445	3.4		20,209	1.9
Local		367,105	0.1		160,543	0.3		2,123	0.2
Gifts		8,592,022	2.0		477,659	0.8		7,743	0.7
Investment income		53,881,725	12.7		399,556	0.7		1,653	0.2
Other nonoperating revenues		11,598,162	2.7		1,214,257	2.1		13,783	1.3
Total other revenues and additions		23,762,979	5.6		2,402,101	4.1		96,137	9.0
Capital appropriations		4,410,756	1.0		1,667,981	2.8		—	—
Capital grants and gifts		3,588,328	0.8		242,963	0.4		—	—
Additions to permanent endowments		1,614,422	0.4		34,276	0.1		—	—
Other revenues and additions		14,149,472	3.3		456,881	0.8		96,137	9.0
Total expenses		$351,691,763	100.0		$54,453,766	100.0		$873,489	100.0
Instruction		91,022,005	25.9		20,185,658	37.1		428,797	49.1
Research		40,693,171	11.6		30,161	0.1		2	#
Public service		16,701,815	4.7		729,191	1.3		6,217	0.7
Academic support		27,991,623	8.0		4,432,507	8.1		77,017	8.8
Student services		16,137,851	4.6		5,840,760	10.7		72,798	8.3
Institutional support		29,637,341	8.4		8,985,784	16.5		155,927	17.9
Scholarships and fellowships (excluding discounts and allowances)		16,652,890	4.7		5,826,978	10.7		42,754	4.9
Auxiliary enterprises		27,178,098	7.7		1,538,532	2.8		—	—
Hospital services		58,537,077	16.6		0	0		—	—
Independent operations		1,960,305	0.6		0	0		—	—
Other expenses and deductions		25,179,586	7.2		6,884,194	12.6		89,977	10.3
		Private nonprofit institutions (FASB standards)
Total revenues and investment return		$408,087,979	100.0		$977,846	100.0		$127,139	100.0
Tuition and fees		77,101,339	18.9		682,120	69.8		75,446	59.3
Government appropriations		1,265,190	0.3		20,717	2.1		1,563	1.2
Federal		599,842	0.1		20,003	2.0		1,563	1.2
State		658,884	0.2		650	0.1		0	0
Local		6,464	#		64	#		0	0
Government grants and contracts		28,608,161	7.0		98,181	10.0		30,556	24.0
Federal		26,843,424	6.6		90,242	9.2		25,165	19.8
State		1,206,464	0.3		6,982	0.7		4,352	3.4
Local		558,273	0.1		957	0.1		1,040	0.8
Private gifts		24,060,650	5.9		39,725	4.1		5,670	4.5
Private grants and contracts		7,304,411	1.8		4,620	0.5		6,236	4.9
Contributions from affiliated entities		2,748,821	0.7		19,800	2.0		329	0.3
Investment return		186,180,108	45.6		61,824	6.3		1,531	1.2
Sales and services of educational activities		9,232,979	2.3		5,053	0.5		2,010	1.6
Sales and services of auxiliary enterprises		12,039,785	3.0		13,570	1.4		—	—
Hospital revenue		36,948,364	9.1		0	0		—	—
Independent operations revenue		7,075,557	1.7		0	0		—	—
Other revenue		15,522,614	3.8		32,235	3.3		3,798	3.0
Total expenses		$222,140,744	100.0		$853,884	100.0		$120,639	100.0
Instruction		64,447,997	29.0		260,337	30.5		63,875	52.9
Research		24,034,638	10.8		614	0.1		69	0.1
Public service		3,210,091	1.4		1,016	0.1		393	0.3
Academic support		19,244,505	8.7		95,820	11.2		7,967	6.6
Student services		17,851,246	8.0		234,968	27.5		10,759	8.9
Institutional support		28,436,196	12.8		187,449	22.0		22,701	18.8
Net grant aid to students		1,188,352	0.5		5,665	0.7		447	0.4
Auxiliary enterprises		15,832,397	7.1		17,322	2.0		—	—
Hospital services		34,775,355	15.7		0	0		—	—
Independent operations		6,839,700	3.1		0	0		—	—
Other expenses		6,280,266	2.8		50,692	5.9		14,428	12.0
		Private for-profit institutions (FASB standards)
Total revenues and investment return		$11,754,190	100.0		$3,335,884	100.0		$2,747,193	100.0
Tuition and fees		11,045,602	94.0		2,992,731	89.7		2,439,562	88.8
Government appropriations		8,593	0.1		10,710	0.3		15,319	0.6
Federal		6,519	0.1		10,379	0.3		15,161	0.6
State		1,487	#		331	#		90	#
Local		586	#		0	0		68	#
Government grants and contracts		131,637	1.1		177,342	5.3		80,938	2.9
Federal (excludes FDSL loans)		126,106	1.1		167,930	5.0		76,512	2.8
State		5,302	#		6,251	0.2		2,538	0.1
Local		230	#		3,160	0.1		1,888	0.1
Private gifts, grants and contracts		15,379	0.1		1,845	0.1		506	#
Investment income and investment gains (losses)		41,902	0.4		6,066	0.2		12,886	0.5
Sales and services of educational activities		185,498	1.6		45,929	1.4		111,258	4.0
Sales and services of auxiliary enterprises		103,719	0.9		5,432	0.2		—	—
Hospital revenue		0	0		0	0		—	—
Other revenue		221,861	1.9		95,829	2.9		86,725	3.2
Total expenses		$10,321,763	100.0		$2,941,511	100.0		$2,239,971	100.0
Instruction		2,705,414	26.2		1,004,593	34.2		903,836	40.4
Research		8,664	0.1		541	#		2,902	0.1
Public service		15,895	0.2		1,512	0.1		1,986	0.1
Academic support		1,141,248	11.1		227,467	7.7		175,275	7.8
Student services		2,235,150	21.7		542,812	18.5		299,189	13.4
Institutional support		3,513,393	34.0		886,252	30.1		572,311	25.5
Net grant aid to students		12,280	0.1		1,645	0.1		4,056	0.2
Auxiliary enterprises		167,929	1.6		26,831	0.9		—	—
Hospital services		0	0		0	0		—	—
Other expenses		521,790	5.1		249,858	8.5		280,415	12.5

— Not available. Non-degree-granting institutions and administrative offices do not separately report these categories.

# Rounds to zero.

1In addition to the public institutions using Governmental Accounting Standards Board (GASB) standards, 18 public institutions (0.9 percent of public institutions) not displayed in this table reported $19.3 billion in revenue and investment return and $14.2 billion in expenses using Financial Accounting Standards Board (FASB) standards.

NOTE: Title IV institutions are those with a written agreement with the U.S. Department of Education that allows the institution to participate in any of the Title IV federal student financial assistance programs. United States includes the 50 states and the District of Columbia. The four U.S. service academies that are not Title IV eligible are included in the Integrated Postsecondary Education Data System (IPEDS) universe because they are federally funded and open to the public and are included in this table. Percentages in the columns of this table use the corresponding dollar amount in the appropriate total row of each section as the denominator. Due to differences between Governmental Accounting Standards Board (GASB) standards and Financial Accounting Standards Board (FASB) standards, figures from public institutions are not comparable with figures from private institutions, even in categories with identical labels. FDSL is the Federal Direct Student Loan program. Detail may not sum to totals because of rounding. Definitions for terms used in this table may be found in the IPEDS online glossary located at https://surveys.nces.ed.gov/ipeds/public/glossary. The glossary is primarily focused on terms used in the current IPEDS collection and may not reflect the definitions in effect when the data in this table were collected.

SOURCE: U.S. Department of Education, National Center for Education Statistics, IPEDS, Spring 2022, Finance component (provisional data).