Making a Financial Difference

As a not-for-profit institution, the University is exempt from paying taxes. But we voluntarily pay millions of dollars.

We feel it’s incumbent upon us to contribute as generously as possible to bettering the place where we have thrived for over a century. To this end, we’ve instituted a voluntary Payment-in-Lieu-of-Taxes agreement with the City of Boston. Last fiscal year, we voluntarily contributed $4.66 million and paid an additional $4.02 million in real estate taxes. We also launched an initiative to provide a number of additional benefits and payments which included $533,000 to the city in fees.

Our sense of civic duty extends to Brookline, where we made payments last year of $265,000, and $1.9 million in real estate taxes. In fact, despite our nonprofit status, we are Brookline’s top taxpayer, contributing as much as we can to improving the quality of life for our nearest neighbors.

Boston University Total Employment in Massachusetts

	Commonwealth of MA	Boston Met. Area	City of Boston
Faculty and Staff	11,416	10,938	2,997
Casual Employees	2,075	1,950	645
Student Employees	10,987	10,987	8,644
Subsidiary Employees	1,350	1,222	668
Total Direct Employment	25,828	25,097	12,954
Indirect Employment	17,981	14,626	1,624
Total Employment	43,809	39,723	14,578

MAKING A DIFFERENCE IN MASSACHUSETTS

Overview of Boston University’s FY-2008 Economic Impact

	City of Boston	Metropolitan Boston	Massachusetts
Boston University’s direct spending for employee salaries and benefits and the purchase of goods and services	$486,415,452	$1,275,009,208	$1,339,897,856
Direct spending by Boston University students and their out-of-state visitors	$248,876,822	$378,294,592	$383,886,085
Additional spending created by Boston University’s spending and the spending by Boston University students and their out-of-state visitors	$428,673,017	$1,823,423,719	$2,129,867,653
Total Economic Impact	$1,163,965,291	$3,476,727,519	$3,853,651,594