Norwich University: $192.7M Revenue, $196.5M Expenses

Norwich University grades a B on the NonprofitTruth efficiency rubric. 69/100 on the composite — above the national median, with strong performance on some factors balanced by middling performance on others.

Annual revenue at Norwich University runs $192.7M (2023), placing it among the larger U.S. nonprofits in the IRS Form 990 dataset. Financial health is a strength: Norwich University carries a healthy operating-reserve cushion against $196.5M in annual expenses, the kind of balance-sheet stability that helps an organization weather funding gaps without cutting programs.

Five-year revenue has grown modestly. Norwich University is not expanding rapidly but is not shrinking either; the trajectory is consistent with stable donor and grant relationships. Officer compensation is modest relative to organizational size: Norwich University reports $1.9M in total compensation for current officers and key employees (Form 990 Part IX, line 5) against $192.7M in revenue. The ratio is well within the bands third-party charity raters consider reasonable at this scale. In the Education category, Norwich University sits alongside universities, K-12 systems, scholarship funds, and education-research organizations. Education-sector nonprofits often hold large endowments, which affects how the reserves-and-revenue figures should be read.