Hult International Business School

Legal name: Hult International Business School Inc

Nonprofit profile at a glance

EIN
043348440
IRS 990 coverage
2011–2024
Official website data refreshed
Aug 2026
Forms available
Form 990 2024
Location
Cambridge, MA, USA
Phone
6177461990
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$217,685,844
Expenses
$215,062,354
Assets
$118,087,489
Liabilities
$97,791,949

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • MATT LILLEY (PRESIDENT/DIRECTOR)
  • MANPREET DHILLON (PROVOST & EXECUTIVE VICE PRESIDENT)
  • STEPHEN WYNN (EXECUTIVE DIRECTOR OF RECRUITMENT)

Highest reported compensation

  • MANPREET DHILLON (PROVOST & EXECUTIVE VICE PRESIDENT): $406,590 total reported compensation
  • MATTHEW FISHER (FACULTY): $337,050 total reported compensation
  • STEPHEN WYNN (EXECUTIVE DIRECTOR OF RECRUITMENT): $325,365 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Hult international business school is a global institution that transforms lives by providing an exceptionally valuable and enduring education that brings together people, cultures, and ideas from all around the world. The school encourages personal growth, intellectual integrity, global sensitivity, local engagement, and civic values, so that students are able to flourish in the global economy and are empowered to contribute meaningfully to their business and community.

What it reported doing in 2024

The school offers one year masters programs in business administration, finance, international business and international marketing, as well as a bachelors program in business administration, to a broadly-based international student body. The school has campus locations in cambridge, Massachusetts, and san francisco, California, and also services students in london, united kingdom and dubai, united arab emirates. During the 2025 academic year, the school had approximately 3,700 students enrolled in all programs.

Operating model

Revenue model
Earned-program. 98% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 66% for direct work, and 34% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 79
  • Transparency & Controls: 81
  • Accountability: 89
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88%; rating input score 88
  • Program expense ratio: 89.6%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 0 of 8 controls in place; rating input score 0
    • Claims monitoring procedures: Limited
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Limited
    • May require repayment: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 88.9%; rating input score 89; 36th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.2%; rating input score 38; 38th percentile among comparable filings
  • Total-asset coverage ratio: 0.55; rating input score 21; 21st percentile among comparable filings
  • Liabilities to assets ratio: 0.83; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: 13.5% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 14.4% per year; rating input score 100; 88th percentile among comparable filings
  • Asset growth: 15.8% per year; rating input score 100; 87th percentile among comparable filings

Details

  • What they do: 1 programs and campaigns described on the official site
  • Where the money goes: 88% of revenue deployed · 89.6% of spending went to programs
  • Governance: 8 of 9 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $192.8M in reported program spending
  • Leadership: top reported pay $407K · 16 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $101K reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 10 filed schedules · includes major donors, foreign activity, grants, executive pay, and related organizations
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • Moderate — Sustainability: Operating margin scored 38/100.
  • High — Sustainability: Total-asset coverage ratio scored 21/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.
  • High — Grant Readiness: Federal audit findings: this organization reported findings in its latest federal Single Audit.