Civic Intelligence

University of Reading

EIN 98-0524980 • 501(c)3 • Reading, UK

Profile

The university's core charitable purposes are the delivery of higher education teaching and research. The university seeks to achieve excellent standards in these areas to the benefit of the local, national and international communities.

PO Box 217Reading RG6 6AHUk

www.reading.ac.uk

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

63rd percentile

0.44x

Higher debt load relative to assets than 63% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

75th percentile

1.00x

Higher debt load relative to revenue than 75% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Net Margin

84th percentile

26%

Higher net margin than 84% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

10th percentile

$280,919

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2024

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2024

Assets

$944,885,990

No earlier filing loaded for comparison.

Liabilities

$418,672,219

No earlier filing loaded for comparison.

Net Assets

$526,213,771

No earlier filing loaded for comparison.

Revenue

$419,730,524

No earlier filing loaded for comparison.

Expenses

$309,422,393

No earlier filing loaded for comparison.

Net Income

$110,308,131

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.0B$500M$0Assets 2024: $944,885,990Liabilities 2024: $418,672,219Net Assets 2024: $526,213,7712024

Highlighted filing

2024

Assets$944,885,990
Liabilities$418,672,219
Net Assets$526,213,771

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600M$400M$200M$0Revenue 2024: $419,730,524Expenses 2024: $309,422,393Net Income 2024: $110,308,1312024

Highlighted filing

2024

Revenue$419,730,524
Expenses$309,422,393
Net Income$110,308,131

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Aug 16, 2023 to Jul 31, 2024
Signed
Jun 15, 2025
Return Version
2023v6.0
Gross Receipts
$428,153,699
Mission and Program Overview

Mission

The university's core charitable purposes are the delivery of higher education teaching and research. The university seeks to achieve excellent standards in these areas to the benefit of the local, national and international communities.

Deliver higher education teaching and research.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$674,354,183$676,706,847▲ $2,352,664
Rtn Earn Endowment Incm Other Fnds$439,384,736$526,213,771▲ $86,829,035
Savings and Temporary Cash Investments$116,391,723$88,078,933▼ $28,312,790
Investments Other Securities$38,205,719$41,799,099▲ $3,593,380
Accounts Receivable$45,374,809$30,236,871▼ $15,137,938
Pledges and Grants Receivable$15,006,271$15,808,292▲ $802,021
Cash and Non-Interest-Bearing Accounts$12,249,719$13,632,349▲ $1,382,630
Other Notes and Loans Receivable, Net$13,566,786$13,300,398▼ $266,388
Prepaid Expenses and Deferred Charges$7,868,349$9,653,520▲ $1,785,171
Intangible Assets$7,178,857$7,434,822▲ $255,965
Inventories for Sale or Use$1,987,534$1,905,209▼ $82,325
Investments in Publicly Traded Securities$190,230$96,464▼ $93,766
Investments Program Related$0$1,231▲ $1,231
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$861,214,223$944,885,990▲ $83,671,767
Other Assets Total$-71,159,957$46,231,955▲ $117,391,912
Liabilities
Unsecured Notes Loans Payable$185,524,995$183,140,851▼ $2,384,144
Other Liabilities$119,044,604$118,141,462▼ $903,142
Deferred Revenue$64,423,817$66,766,216▲ $2,342,399
Accounts Payable and Accrued Expenses$52,836,071$50,623,690▼ $2,212,381
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$421,829,487$418,672,219▼ $3,157,268
Net Assets / Fund Balance
Total Net Assets Fund Balance$439,384,736$526,213,771▲ $86,829,035
Total Liabilities and Net Assets / Fund Balance$861,214,223$944,885,990▲ $83,671,767

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$582,095,804$345,540,138$700,544,525
Equipment$28,703,788$113,776,149$142,479,937
Other Land Buildings$50,100,985-$50,100,985
Land$15,806,270-$15,806,270

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$128,937,975$1,670,038▲ $17,380,531-$141,039,113
2022$113,498,896$2,586,076▲ $23,647,939-$128,937,974
2021$148,688,366$2,428,571▼ $27,862,593-$113,498,896
2020$307,598,773$3,707,756▲ $60,546,656-$148,688,365
2019$302,913,706$72,393▲ $12,334,147-$307,598,774
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert Van De NoortVice Chancellor & Ex OfficioFT$221,196$59,723$280,919
Michael SchmittProfesssor of LawFT$191,828$51,794$243,622
Elena Beleska-spasovaDean Bus School & Ex OfficioFT$165,865$44,783$210,648
Sandra HarrisonProfesssorFT$151,560$40,921$192,481
Richard MesserChief Strategy Off./secretaryFT$149,841$40,457$190,298
Atta BadiiProfesssorFT$174,858$11,769$186,627
James DevenneyHead of SchoolFT$145,838$33,772$179,610
Adrian BellPro Vice-chancellor/professorFT$126,464$52,084$178,548
Dominik ZaumProfesssor & Ex OfficioFT$127,938$34,543$162,481
Elizabeth MccrumPro-vc/prof & Ex OfficioFT$123,825$33,406$157,231
Parveen YaqoobDpty Vc/prof & Ex OfficioFT$123,255$33,280$156,535
Peter MiskellPro Vice-chancellor/professorFT$110,728$29,897$140,625

Board Members and Trustees

NameTitle
Mr P Milhofer BACouncil Member, Chair Audit
Mrs H Gordon MBACouncil President
Mr K Corrigan BA FCCACouncil Vice President
Mrs K Owen BACouncil Vice President
Dr C Shaw BSc PhD Reading CACouncil Member
Dr J Young BA MRICS PhDCouncil Member
Mr A McCallum BScCouncil Member
Mr J Jack BSc BA MPhil FHEACouncil Member
Mr N Richards MBA ACIB DipFSCouncil Member
Mr S Alexander BA HonsCouncil Member
Mr S Ali MA ACA CFCouncil Member
Mr S GandhiCouncil Member
Mrs S Butler BSc MSc FRSCCouncil Member
Mrs S Plank BACouncil Member
Ms P Egan BA CBECouncil Member
Ms S Maple MBACouncil Member
Professor J Gibbins BSc PhDCouncil Member
Professor K Strohfeldt-Venables PhDCouncil Member
Professor RA Frazier BSc PhDCouncil Member
Mr J HaxellCouncil Member, Pres Stu Union
Dr C Baylon Ba Ma DbaPro-vc & Ex Officio Council

Highest Paid Contractors

ContractorServicesLocationCompensation
N Kemsley Consulting LtdCorp Bus DevelopmentLIRKPATRICK AND HOPES MERLIN HOUSE, Reading, BERKSHIRE, Uk$149,689
Oxentia LimitedConsulting Services30 UPPER HIGH STREET THAME, Oxfordshire, ENGLAND, Uk$101,631
International Coaching DevelopmenBusiness Dev Support5 MINTON PLACE VICTORIA ROAD BICE, Oxfordshire, ENGLAND, Uk$100,376
Revenue and Support

Revenue Composition

Contributions and Grants
$98,028,058
Program Service Revenue
$245,313,678
Investment Income
$18,327,453
Other Revenue
$58,061,335
All Other Contributions
$59,534,668
Change in Net Assets
$110,308,131
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$171,415,399
Salaries, Compensation, and Employee Benefits$116,306,842
Grants and Similar Amounts Paid$21,700,152
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$132,379,736$54,070,596-$186,450,332
Depreciation Depletion-$35,613,715-$35,613,715
Occupancy$34,374,563--$34,374,563
Fees for Services Other$19,436,911$7,939,020-$27,375,931
Foreign Grants$21,700,152--$21,700,152
Payroll Taxes$14,279,847$5,832,613-$20,112,460
Interest-$14,506,589-$14,506,589
Other Expenses$11,269,952$10,755,198-$10,755,198
Information Technology$10,507,130--$10,507,130
Travel$4,134,241--$4,134,241
Advertising$3,493,927--$3,493,927
Insurance-$1,932,042-$1,932,042
All Other Expenses-$1,134,777-$1,134,777
Fees for Services Accounting$601,447$245,662-$847,109
Office Expenses$635,870--$635,870
Other Employee Benefits$424,608$173,431-$598,039
Fees for Service Investment Mgmnt Fees-$555,750-$555,750
Conferences and Meetings$548,219--$548,219
Fees for Services Legal$211,200$86,265-$297,465
Fees for Services Management$174,762$71,382-$246,144
Pension Plan Contributions$-64,506,332$-26,347,657-$-90,853,989
Total Functional Expenses$200,463,260$108,959,133$0$309,422,393
International Activity

International Summary

Offices
5
Employees
3,564
Spending
$351,221,493

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)Program ServicesEducational Services33,350$287,196,303
Europe (Including Iceland and Greenland)Investments---$18,715,463
North AmericaInvestments---$17,531,876
Sub-Saharan AfricaProgram ServicesEducational Services1120$14,426,265
South AsiaProgram ServicesEducational Services194$7,799,825
East Asia and the PacificInvestments---$5,551,761
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$16,798
Fundraising Gross Income$16,798
Gaming Gross Income$8,592
Gaming Direct Expenses$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annu Comm Fete$16,798$16,798$4,384$12,414
Total Events$16,798$16,798$16,798-
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Amounts Due to Subsidiary Ut$98,739,274
Amounts Due to Associated Ut$11,372,967
Social Security & Other Tax Payable$5,193,177
Deferred Income on Site Servicing$2,547,455
Other Payables - Debt Finance Costs$288,589
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION B, LINE 11A:

The university provides a copy of the 990 to the university's executive board prior to filing.

FORM 990, PART VI, SECTION B, LINE 11A/B:

The draft 990 is reviewed by appropriate senior management at the university and pwc us tax llp. After this review is complete, a copy of the final return is provided to each member of the university's executive board. After the review of the executive committee, on behalf of the full board of trustees, a copy of the final return is provided to all members of the board and the return is filed.

FORM 990, PART VI, SECTION B, LINE 12C:

Each year, on behalf of the board of trustees, the director of governance and other compliance colleagues review the conflict-of-interest policy. The policy is raised at committee meetings at the start of each year and if an issue arises. Employees are required to raise issues where they might be conflicted.

FORM 990, PART VI, SECTION B, LINE 15:

Executive board and senior staff salaries are reviewed and approved by the remuneration committee to ensure the salaries are in line with suitable procedures and benchmarking.

FORM 990, PART VI, SECTION C, LINE 19:

The university's governing documents, financial statements and conflict of interest policy are located on the university's website.

Filing and Contact Details

Filer

Filer Name
University of Reading
EIN
98-0524980
In Care Of
% ROBERT VAN DE NOORT (VC)
Phone
1183786226
Address
UK

Signing Officer

Name
Robert Van De Noort
Title
Vice Chancellor
Phone
1183786964
Signed
2025-06-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Van De Noort
Formed
1926
Voting Board Members
26
Independent Board Members
14
Employees
1
Volunteers
50

Preparer

Firm
PwC US Tax LLP
Address
655 NEW YORK AVE NW STE 1100, WASHINGTON, DC 20001
Preparer
Travis L Patton
Phone
2024141000
Supplemental Narrative

Additional Explanations

FORM 990, PART III, LINE 4D:

Research training support grants, education contracts, and conference income.

Form 990, Parts VII, VIII, IX, and X

The financial statements of university of reading ("the university") are presented in british pounds. The amounts reported on part x of the form 990 were converted from british pounds to us dollars using the conversation rate at 07/31/2024 of 1:1.2587. The amounts reported on parts vii, viii, and ix of the form 990 were converted from british pounds to us dollars using the average conversion rate for the year ended 07/31/2024 of 1:1.2586.

Form 990, Part XI, Line 9

Actuarial gain/(loss) in respect of pension schemes : $(19,024,998) fx revaluation difference : $ (8,619,882) ------------- total : $(27,644,880) -------------

Financial Statement Notes

Schedule D, Part III, Line 4

Heritage assets include many unique items and collections which the university has accumulated since incorporation. These are held and maintained principally for their contribution to knowledge and culture. The university conserves these assets and augments the collections where appropriate in order to enable use of the assets for teaching and research and access to the assets for engagement with members of the public. The items and collections are carefully catalogued and custodianship is given to specific areas and persons for their care and maintenance. The university's collections span museum, archive and library holdings of regional, national and international significance. These include the university's library and archive special collections, the art collection, the museum of english rural life, the cole museum of zoology, the university herbarium, the ure museum of greek archaeology, and the lettering, printing and graphic design collections. These collections can be viewed by members of the public (some collections can only be viewed by appointment). The university's special collections include rare books (pre-1851), private press books, modern literary first editions and other printed material. They also include over 300 archive collections, notably the samuel beckett collection and the archive of british publishing and printing, both of which are designated as outstanding collections by arts council england. Other collections cover a wide range of subjects from manuscripts dating back to the 12th century to modern records of the university. The university's art collection comprises around 1000 works of painting, drawing, sculpture and graphic art and includes many pieces of national and international significance. The museum of english rural life (merl) tells the story of rural england through interactive and immersive galleries. The collection has over 25,000 objects and the museum library has the most comprehensive collection of books related to rural england with around 50,000 volumes. The collection also contains hundreds of hours of historic film and over 1 million photographs, including material from prominent agricultural publications and organisations. The archives cover more than 4.5 kilometres of shelving. The cole museum of zoology was established in the early 20th century by francis j. Cole, professor of zoology from 1907 to 1939. It contains around 4,000 specimens. The museum illustrates the relationship between form and function in the animal kingdom and houses one of britain's most important zoological collections. The museum is located in the new health and life sciences building. The university herbarium was founded in 1900 and contains over 260,000 dried plant specimens. The collection is rich in specimens from europe, north africa, macaronesia, the middle east, temperate south america and the falkland islands. Ferns and fern allies are also represented on a worldwide scale. There are very significant british lichen and bryophyte holdings. The ure museum of greek archaeology was formed in the early 1920s and contains the fourth largest collection of ancient greek ceramics in britain. The collection primarily consists of material from the greek and grecoroman civilisations of the mediterranean, most notably greek and etruscan ceramics and terracottas. Other artefacts include prehistoric pottery and an important collection of egyptian antiquities, the total size of the collection is over 2,000 objects.

Schedule D, Part III, Line 3E

Use in public engagement and community outreach activities.

Schedule D, Part V, Line 1

Details of endowment fund amounts are reported in the financial statements of the university of reading and are presented in gbp in those financial statements.all amounts reported on schedule d, part v, line 1 were converted from british pounds to us dollars using the gbp/usd conversion rates applicable at 30 june for each relevant year, as taken from https://www.fiscal.treasury.gov/reports-statements/treasury-reporting-rate s-exchange/

Schedule D, Part V, Line 4

The endowment funds are solely used for furthering academic aims at the university. They include land and property held to generate investment returns. They are used to fund scholarships, prizes, and provide other funding where appropriate, including larger grants to the university to fund capital expenditure or underpin running costs. They may have restrictions on expenditure which in terms of both use or source (income or capital) run from the freely expendable to the higher limited. An accounting change in 2021 moves a large balance out of endowment funds into general reserves within our balance sheet, when a charitable trust was dissolved, removing all restrictions.this movement has been recorded under "administrative expenses" as there is no line for fundamental changes of treatment in the pro forma.

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