The Howard Hughes Medical Institute (HHMI) advances the discovery and sharing of scientific knowledge to benefit us all. Founded in 1953, HHMI is a biomedical research organization and philanthropy with a vibrant community of researchers, educators, students, and professionals. Together, we’re unlocking the fundamentals of biology and building an open, inclusive future for science.
HHMI operates under the guidance of its board of trustees, which meets four times per year. HHMI’s trustees are distinguished individuals who are leaders in one or more of the broad range of disciplines relevant to HHMI’s activities, including academia, government, business, law, and finance. Trustees are elected to five-year appointments and fulfill their governance responsibilities through the work of five standing committees: the Audit and Compensation, Education, Finance, Nominating and Governance, and Research committees.
With the guidance of the trustees, HHMI’s senior leadership oversees the Institute’s programs and operations, including its strategy and day-to-day management.
HHMI retains an independent accounting firm to perform annual audits of its consolidated financial statements in accordance with standards generally accepted in the United States. At the end of fiscal year (FY) 2023, the Institute had $24.2 billion in consolidated diversified net assets, making it one of the world’s largest basic biomedical research and science education philanthropies. Over the last five years, the Institute has spent approximately $4.4 billion on research and science education, based on generally accepted accounting principles (GAAP).
Basic financial information from HHMI’s 2019–2023 fiscal years follows. Complete details can be found in our audited financial statements.
Audited Financial Statements