Form990


Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
A For the 2024 calendar year, or tax year beginning 08-01-2024 , and ending 07-31-2025
BCheck if applicable:
CName of organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
 
 
Doing business as
THE UNIVERSITY OF CAMBRIDGE
 
Number and street (or P.O. box if mail is not delivered to street address)
THE OLD SCHOOLS TRINITY LANE
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
CAMBRIDGECB21TN
United Kingdom (England, Northern Ireland, Scotland, and Wales)
D Employer identification number

13-1599108
E Telephone number

G Gross receipts $ 3,499,640,591
F Name and address of principal officer:
MATTHEW J HODGSON
THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TN
UK
I
Tax-exempt status: (   ) (insert no.) or
J
Website:
www.cam.ac.uk
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. See instructions.
H(c)
Group exemption number  
K Form of organization:  
L Year of formation: 1208
M State of legal domicile: UK
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: To provide world class teaching and research and to promote standards through examination and disseminate knowledge through the publication of academic material.
2 Check this box
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 25
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 16
5 Total number of individuals employed in calendar year 2024 (Part V, line 2a) ...... 5 201
6 Total number of volunteers (estimate if necessary) ............. 6 20
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 12,652,189
b Net unrelated business taxable income from Form 990-T, Part I, line 11 ......... 7b 11,964,768
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 683,289,610 1,018,002,496
9 Program service revenue (Part VIII, line 2g) ......... 2,054,153,052 2,209,053,203
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 87,858,553 101,147,873
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 249,539,789 168,807,261
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 3,074,841,004 3,497,010,833
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 197,546,113 193,304,390
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 894,444,406 1,455,614,899
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 0 0
b Total fundraising expenses (Part IX, column (D), line 25) 22,514,907    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 1,520,172,709 1,841,820,319
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 2,612,163,228 3,490,739,608
19 Revenue less expenses. Subtract line 18 from line 12....... 462,677,776 6,271,225
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 12,598,933,952 13,973,069,287
21 Total liabilities (Part X, line 26)............. 3,411,744,392 3,810,782,431
22 Net assets or fund balances. Subtract line 21 from line 20..... 9,187,189,560 10,162,286,856
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
Signature of officer Date
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name

Firm's EIN
Firm's address



Phone no.
May the IRS discuss this return with the preparer shown above? See Instructions. ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2024)
Form 990 (2024)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: THE MISSION OF THE UNIVERSITY OF CAMBRIDGE IS TO CONTRIBUTE TO SOCIETY THROUGH THE PURSUIT OF EDUCATION, LEARNING, AND RESEARCH AT THE HIGHEST INTERNATIONAL LEVELS OF EXCELLENCE. ORGANIZATIONALLY, WE ACHIEVE THIS THROUGH TWO DIVISIONS COMPRISING: 1) THE ACADEMIC UNIVERSITY - WHICH UNDERTAKES OVER 4,000 RESEARCH PROJECTS ANNUALLY, PROVIDES EDUCATION TO APPROXIMATELY 24,000 STUDENTS ALONG WITH A RANGE OF OTHER ACTIVITIES COMPLEMENTING ITS ACADEMIC MISSION. 2) CAMBRIDGE UNIVERSITY PRESS AND ASSESSMENT WHICH PROMOTES EDUCATIONAL EXCELLENCE AND HIGH QUALITY LEARNING THROUGH GLOBAL PUBLISHING AND RELATED SERVICES AND THE DEVELOPMENT, USE AND APPLICATION OF ASSESSMENT AND EXAMINATION.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 969,914,770 including grants of $   ) (Revenue $ 490,030,857 )
RESEARCH
4b (Code:   ) (Expenses $ 806,295,728 including grants of $ 193,304,390 ) (Revenue $ 574,945,028 )
TEACHING
4c (Code:   ) (Expenses $ 741,560,156 including grants of $   ) (Revenue $ 678,564,660 )
EXAMINATIONS AND ASSESSMENTS
(Code:   ) (Expenses $ 509,305,136 including grants of $   ) (Revenue $ 465,512,658 )
PUBLISHING AND PRINTING
4d Other program services (Describe in Schedule O.)
(Expenses $ 509,305,136 including grants of $   ) (Revenue $ 465,512,658 )
4e Total program service expenses3,027,075,790
Form 990 (2024)
Form 990 (2024)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment
List of Attached Documents:
// Content
.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. Click to see attachment
List of Attached Documents:
// Content
...
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II.........
4
 
No
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part IIIClick to see attachment
List of Attached Documents:
// Content
..
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part I.........................
6
 
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part II....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part IIIClick to see attachment
List of Attached Documents:
// Content
..............
8
Yes
 
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IV..............
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part VClick to see attachment
List of Attached Documents:
// Content
......
10
Yes
 
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment
List of Attached Documents:
// Content
...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment
List of Attached Documents:
// Content
.......
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIII.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IX............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part X
11f
 
No
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XII......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
List of Attached Documents:
// Content
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule EClick to see attachment
List of Attached Documents:
// Content
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........Click to see attachment
List of Attached Documents:
// Content
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....Click to see attachment
List of Attached Documents:
// Content
15
Yes
 
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...Click to see attachment
List of Attached Documents:
// Content
16
Yes
 
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....
17
 
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............
18
 
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....
21
 
No
Form 990 (2024)
Form 990 (2024)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........
22
 
No
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
List of Attached Documents:
// Content
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............
24a
 
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
No
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
No
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I ....
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part II...........
26
 
No
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part III.........................
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....
28b
 
No
c
A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
 
No
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..Click to see attachment
List of Attached Documents:
// Content
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................Click to see attachment
List of Attached Documents:
// Content
30
Yes
 
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............
33
 
No
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................Click to see attachment
List of Attached Documents:
// Content
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...Click to see attachment
List of Attached Documents:
// Content
35b
Yes
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2.............
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI
37
 
No
38
Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..
1a
386
b
Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
 
 
Form 990 (2024)
Form 990 (2024)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
201
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
Yes
 
b
If "Yes," enter the name of the foreign country: UK
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
 
No
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
 
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
 
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
 
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
 
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.
15
 
No
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
17
Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.
17
 
 
Form 990 (2024)
Form 990 (2024)
Page 6
Part VI
Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
25
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
16
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
Yes
 
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
Yes
 
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
No
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
 
No
b
Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
No
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filed
CA
18
Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
Daniel BenhamThe Old Schools TRINITY LANE     ,CambridgeCB21TNUK
Form 990 (2024)
Form 990 (2024)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) Professor Deborah Prentice......................................................................
Vice-Chancellor
 40.0
.................
0.0 		X   X       491,760 0 107,884
(2) Baronness Sally Morgan......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(3) Dr Diarmuid O'Brien......................................................................
Pro-Vice-Chancellor (Innovation)
 40.0
.................
0.0 		X           235,712 0 51,711
(4) Dr Ella McPherson......................................................................
University Associate Professor (Grade 10)
 40.0
.................
0.0 		X           101,526 0 23,532
(5) Dr Louise Joy......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(6) Dr Michael Sewell......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(7) Dr Pieter van Houten......................................................................
University Associate Professor (Grade 10)
 40.0
.................
0.0 		X           83,443 0 18,223
(8) Dr Scott Mandelbrote......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(9) Dr Zoe Adams......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(10) Lord Sainsbury of Turville......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(11) Mr Alex Myall......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(12) Mr Fergus Kirman......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(13) Mr Sam Carling......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(14) Mr Sumouli Bhattacharjee......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(15) Mr Vareesh Pratap......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(16) Mrs Heather Hancock......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
(17) Mrs John Dix......................................................................
Council Member
 1.0
.................
0.0 		X           0 0 0
Form 990 (2024)
Form 990 (2024)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) Ms Gaenor Bagley........................................................................
Council Member
 1.0
.......................0.0 		X           0 0 0
(19) Ms Margaret Bodfish........................................................................
Secretary of the School of the Biological Sciences
 40.0
.......................0.0 		X           100,464 0 42,557
(20) Ms Sarah Anderson........................................................................
Council Member
 1.0
.......................0.0 		X           0 0 0
(21) Ms Sharon Flood........................................................................
Council Member
 1.0
.......................0.0 		X           0 0 0
(22) Professor Alan Short........................................................................
Council Member
 1.0
.......................0.0 		X           0 0 0
(23) Professor Alex Halliday........................................................................
Council Member
 1.0
.......................0.0 		X           0 0 0
(24) Professor Andrew Neely........................................................................
Professor of Manufacturing Engineering (1960)
 40.0
.......................0.0 		X           201,130 0 4,588
(25) Professor Andrew Wathey........................................................................
Council Member
 1.0
.......................0.0 		X           0 0 0
(26) Professor Anna Philpott........................................................................
Pro-Vice-Chancellor (Resources and Operations) (AS OF 10/24)
 40.0
.......................0.0 		X           184,526 0 40,482
(27) Professor Anne Ferguson-Smith........................................................................
Arthur Balfour Professor of Genetics (1912)
 40.0
.......................0.0 		X           161,075 0 0
(28) Professor Bhaskar Vira........................................................................
Senior Pro-Vice-Chancellor
 40.0
.......................0.0 		X           215,318 0 47,167
(29) Professor Dame Madeleine Adams........................................................................
Council Member
 1.0
.......................0.0 		X           0 0 0
(30) Professor David Cardwell........................................................................
Professor of Superconducting Engineering (2003)
 40.0
.......................0.0 		X           211,783 0 46,365
(31) Professor Jason Scott-Warren........................................................................
Professor of Early Modern Literature and Culture
 40.0
.......................0.0 		X           96,498 0 21,101
(32) Professor John Aston........................................................................
Pro-Vice-Chancellor (Research)
 40.0
.......................0.0 		X           158,388 0 52,735
(33) Professor Kamal Munir........................................................................
Senior Pro-Vice-Chancellor
 40.0
.......................0.0 		X           269,025 0 47,167
(34) Professor Philippa Rogerson........................................................................
Professor of Private International Law (Grade 11)
 40.0
.......................0.0 		X           41,126 0 9,517
(35) Professor Richard Mortier........................................................................
Professor of Computing and Human-Data Interaction
 40.0
.......................0.0 		X           97,994 0 22,784
(36) Professor Sharon Peacock........................................................................
Professor of Public Health and Microbiology (2019)
 40.0
.......................0.0 		X           224,537 0 0
(37) Mr Anthony Odgers........................................................................
Unestablished Chief Financial Officer
 40.0
.......................0.0 		    X       531,386 0 0
(38) Mr Andrew Chandler........................................................................
Chief Executive - CUP&A
 40.0
.......................0.0 		      X     959,549 0 0
(39) Mr Peter Phillips........................................................................
CFO - CUP&A
 40.0
.......................0.0 		      X     956,852 0 0
(40) Ms Vanessa McPhee........................................................................
CFO - CUP&A
 40.0
.......................0.0 		      X     390,358 0 0
(41) Professor Patrick Maxwell........................................................................
Professor of Physic (Regius) (1540)
 40.0
.......................0.0 		      X     411,614 0 0
(42) Mr Mark Maddocks........................................................................
CIO - CUP&A
 40.0
.......................0.0 		        X   465,472 0 0
(43) Mr Rodrick Smith........................................................................
Managing Director - International Education
 40.0
.......................0.0 		        X   482,614 0 0
(44) Ms Christopher Marquis........................................................................
Sinyi Professor of Chinese Management (1997)
 40.0
.......................0.0 		        X   372,454 0 71,877
(45) Ms Kishore Sengupta........................................................................
Professor of Operations Management (Grade 11)
 40.0
.......................0.0 		        X   416,346 0 36,142
(46) Professor Stylianos Kavadias........................................................................
Margaret Thatcher Professor of Enterprise Studies
 40.0
.......................0.0 		        X   522,917 0 65,235
1b Sub-Total..............
c Total from continuation sheets to Part VII, Section A..
d Total (add lines 1b and 1c)......... 8,383,867 0 709,067
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 2,245
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
 
No
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
Cognizant Worldwide Limited

1 Kingdom Street Paddington
London   W26BD
UK 		IT Services 31,230,174
CAMBRIDGE UNIVERSITY HOSPITALS NHS FOUNDATION TRUST

Addenbrookes Hospital Hills Road
Cambridge   CB20QQ
UK 		Health 23,930,844
Rm Education Plc

183 Milton Park
Abingdon   OX144SE
UK 		IT Services 17,098,820
EQUANS SERVICES LTD

Titan Court 3 Bishops Square
Hatfield   AL109NA
UK 		Buildings management 13,682,173
Canon UK Ltd

Stockley Park
Uxbridge   UB111AQ
UK 		Support Services 13,449,159
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 1,385
Form 990 (2024)
Form 990 (2024)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, Grants, and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c  
d Related organizations1d 363,138,153
e Government grants (contributions)1e 537,285,349
f All other contributions, gifts, grants, and similar amounts not included above1f 117,578,994
g Noncash contributions included in lines 1a - 1f:$ 1g 7,209,629
h Total. Add lines 1a-1f....... 1,018,002,496
Program Service RevenueAmt Business Code
2a EXAMINATIONS AND ASSESSMENTS 900099 678,564,660 678,564,660    
b TEACHING 900099 574,945,028 574,945,028    
c RESEARCH 900099 490,030,857 490,030,857    
d PUBLISHING AND PRINTING 900099 465,512,658 465,512,658    
e
f All other program service revenue. 0 0 0 0
g Total. Add lines 2a–2f ..... 2,209,053,203
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ...... 101,981,281   12,652,189 89,329,092
4 Income from investment of tax-exempt bond proceeds        
5 Royalties........... 5,316,128     5,316,128
(i) Real (ii) Personal
6a Gross rents 6a 53,523,965  
b Less: rental expenses 6b 1,796,350  
c Rental income or (loss) 6c 51,727,615 0
d Net rental income or (loss)....... 51,727,616     51,727,616
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 7a 0 0
b Less: cost or other basis and sales expenses 7b 0 833,408
c Gain or (loss) 7c 0 -833,408
d Net gain or (loss)......... -833,408     -833,408
8a Gross income from fundraising events (not including $   of contributions reported on line 1c). See Part IV, line 18 ....
8a  
b Less: direct expenses ... 8b  
c Net income or (loss) from fundraising events..      
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a  
b Less: direct expenses ... 9b  
c Net income or (loss) from gaming activities..        
10a Gross sales of inventory, less
returns and allowances ..
10a  
b Less: cost of goods sold .. 10b  
c Net income or (loss) from sales of inventory..        
OtherRevenueMiscAmt
Business Code
11a OTHER SERVICES RENDERED 900099 83,143,672     83,143,672
b SUNDRY INCOME 900099 11,759,225     11,759,225
c CONFERENCES & CATERING, ETC. 900099 16,860,620     16,860,620
d All other revenue .... 0 0 0 0
e Total. Add lines 11a–11d ...... 111,763,517
12 Total revenue. See instructions..... 3,497,010,833 2,209,053,203 12,652,189 257,302,945
Form 990 (2024)
Form 990 (2024)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising
expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....    
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ...........    
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. ............. 193,304,390 193,304,390
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 8,422,480 6,938,233 1,484,247  
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........        
7 Other salaries and wages........ 1,113,882,716 992,795,634 111,665,826 9,421,256
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 187,174,787 163,254,571 22,081,581 1,838,635
9 Other employee benefits ....... 14,159,039 14,159,039    
10 Payroll taxes ........... 131,975,877 117,262,244 13,582,665 1,130,968
11 Fees for services (non-employees):        
a Management ...... 71,858,892 65,779,333 6,079,559  
b Legal ......... 6,439,206 5,350,866 1,088,340  
c Accounting ........... 3,584,790 3,179,048 405,742  
d Lobbying ...........        
e Professional fundraising services. See Part IV, line 17    
f Investment management fees ......        
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 1,035,444 1,035,444 0 0
12 Advertising and promotion .... 18,073,481 17,134,652 938,829  
13 Office expenses ....... 73,463,212 57,560,731 15,902,481  
14 Information technology ...... 168,193,998 151,530,461 16,663,537  
15 Royalties .. 48,148,790 48,148,790    
16 Occupancy ........... 176,892,372 129,471,958 47,374,974 45,440
17 Travel ............ 50,736,804 40,159,978 10,576,826  
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 27,242,409 27,242,409    
20 Interest ........... 7,821,611 1,301,700 6,519,911  
21 Payments to affiliates ....... 310,513,443 310,513,443    
22 Depreciation, depletion, and amortization .. 242,875,851 144,557,515 98,318,336  
23 Insurance ... 11,835,912 9,107,691 2,728,221  
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a All other expenses 255,742,434 159,925,990 85,737,836 10,078,608
b Product cost of sales 216,610,543 216,610,543    
c Laboratory consumables 133,444,133 133,444,133    
d Books and periodicals 17,306,994 17,306,994    
e All other expenses 0 0 0 0
25 Total functional expenses. Add lines 1 through 24e 3,490,739,608 3,027,075,790 441,148,911 22,514,907
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).        
Form 990 (2024)
Form 990 (2024)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........ 215,957,811 1 151,814,080
2 Savings and temporary cash investments ......... 685,975,917 2 1,068,309,013
3 Pledges and grants receivable, net ...... 167,238,211 3 182,698,593
4 Accounts receivable, net ............. 491,505,887 4 488,901,560
5 Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
0 5 0
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
0 6 0
7 Notes and loans receivable, net ........... 15,062,010 7 20,633,063
8 Inventories for sale or use ............ 51,420,495 8 56,818,463
9 Prepaid expenses and deferred charges ...... 66,092,112 9 97,049,204
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 5,984,804,776
b Less: accumulated depreciation 10b 1,513,570,458 4,224,669,292 10c 4,471,234,318
11 Investments—publicly traded securities . 29,773,754 11 28,218,030
12 Investments—other securities. See Part IV, line 11 ..... 6,495,729,682 12 7,251,293,511
13 Investments—program-related. See Part IV, line 11 .. 0 13  
14 Intangible assets ............... 155,479,780 14 156,068,313
15 Other assets. See Part IV, line 11 ........... 29,001 15 31,139
16 Total assets. Add lines 1 through 15 (must equal line 33)... 12,598,933,952 16 13,973,069,287
Liabilities 17 Accounts payable and accrued expenses ..... 536,949,064 17 575,387,538
18 Grants payable ... 0 18 0
19 Deferred revenue ......... 420,864,628 19 506,743,603
20 Tax-exempt bond liabilities ......... 0 20 0
21 Escrow or custodial account liability. Complete Part IV of Schedule D 0 21 0
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
0 22 0
23 Secured mortgages and notes payable to unrelated third parties .. 0 23 0
24 Unsecured notes and loans payable to unrelated third parties .. 1,044,003,022 24 1,098,321,333
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D 1,409,927,678 25 1,630,329,957
26 Total liabilities. Add lines 17 through 25.. 3,411,744,392 26 3,810,782,431
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 5,958,656,892 27 6,526,966,753
28 Net assets with donor restrictions ........... 3,228,532,668 28 3,635,320,103
Organizations that do not follow FASB ASC 958, check here right arrow and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds ..... 0 29 0
30 Paid-in or capital surplus, or land, building or equipment fund ... 0 30 0
31 Retained earnings, endowment, accumulated income, or other funds 0 31 0
32 Total net assets or fund balances ........... 9,187,189,560 32 10,162,286,856
33 Total liabilities and net assets/fund balances ........ 12,598,933,952 33 13,973,069,287
Form 990 (2024)
Form 990 (2024)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
3,497,010,833
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
3,490,739,608
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
6,271,225
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
9,187,189,560
5
Net unrealized gains (losses) on investments ...............
5
360,787,702
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
608,038,369
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
10,162,286,856
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?
3a
 
No
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
 
 
Form 990 (2024)
Form 990 (2024)
Additional Data


Software ID: 24020961
Software Version: 2024v5.1
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public
Inspection
Name of the organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
 
Employer identification number

13-1599108
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)
1
2
3
4
5
6
7
8
9
10
11
12
a
b
c
d
e
f
Enter the number of supported organizations ...............................  
g
Provide the following information about the supported organization(s).
(i) Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 10 above (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total
 
   
For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.
Cat. No. 11285F
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") ..            
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf ....            
3 The value of services or facilities furnished by a governmental unit to the organization without charge..            
4 Total. Add lines 1 through 3            
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) ..  
6 Public support. Subtract line 5 from line 4.  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
7 Amounts from line 4..            
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...            
9 Net income from unrelated business activities, whether or not the business is regularly carried on..            
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..            
11 Total support. Add lines 7 through 10  
12
12
 
13
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................right arrow
Section C. Computation of Public Support Percentage
14
14
 
15
15
 
16a
33 1/3% support test—2024. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization .......................right arrow
b
33 1/3% support test—2023. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow
17a
10%-facts-and-circumstances test—2024. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
b
10%-facts-and-circumstances test—2023. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose            
3 Gross receipts from activities that are not an unrelated trade or business under section 513 .....            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge            
6 Total. Add lines 1 through 5            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public support. (Subtract line 7c from line 6.)  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
33 1/3% support tests-2024. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow
b
33 1/3 % support tests—2023. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow
20
Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 4
Part IV
Supporting Organizations
(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)
Section A. All Supporting Organizations
Yes
No
1
Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.
1
 
 
2
Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.
3a
 
 
b
Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.
3b
 
 
c
Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.
3c
 
 
4a
Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.
4a
 
 
b
Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.
4b
 
 
c
Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.
4c
 
 
5a
Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).
5a
 
 
b
Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.
6
 
 
7
Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .
7
 
 
8
Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).
8
 
 
9a
Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.
9a
 
 
b
Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.
9b
 
 
c
Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.
9c
 
 
10a
Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.
10a
 
 
b
Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).
10b
 
 
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 5
Part IV
Supporting Organizations (continued)
Yes
No
11
Has the organization accepted a gift or contribution from any of the following persons?
a
A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?
11a
 
 
b
A family member of a person described on 11a above?
11b
 
 
c
A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.
11c
 
 
Section B. Type I Supporting Organizations
Yes
No
1
Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.
1
 
 
2
Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?
1
 
 
2
Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).
2
 
 
3
By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer lines 2a and 2b below.
Yes
No
a
Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.
2a
 
 
b
Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.
2b
 
 
3
Parent of Supported Organizations. Answer lines 3a and 3b below.
a
Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.
3a
 
 
b
Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.
3b
 
 
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 6
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations
1
Section A - Adjusted Net Income (A) Prior Year (B) Current Year
(optional)
1 Net short-term capital gain 1    
2 Recoveries of prior-year distributions 2    
3 Other gross income (see instructions) 3    
4 Add lines 1 through 3 4    
5 Depreciation and depletion 5    
6 Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) 6    
7 Other expenses (see instructions) 7    
8 Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) 8    
Section B - Minimum Asset Amount (A) Prior Year (B) Current Year
(optional)
1 Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year): 1
a Average monthly value of securities 1a    
b Average monthly cash balances 1b    
c Fair market value of other non-exempt-use assets 1c    
d Total (add lines 1a, 1b, and 1c) 1d    
e Discount claimed for blockage or other factors
(explain in detail in Part VI):  
2 Acquisition indebtedness applicable to non-exempt use assets 2    
3 Subtract line 2 from line 1d 3    
4 Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions). 4    
5 Net value of non-exempt-use assets (subtract line 4 from line 3) 5    
6 Multiply line 5 by 0.035 6    
7 Recoveries of prior-year distributions 7    
8 Minimum Asset Amount (add line 7 to line 6) 8    
Section C - Distributable Amount Current Year
1 Adjusted net income for prior year (from Section A, line 8, Column A) 1  
2 Enter 85% of line 1 2  
3 Minimum asset amount for prior year (from Section B, line 8, Column A) 3  
4 Enter greater of line 2 or line 3 4  
5 Income tax imposed in prior year 5  
6 Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) 6  
7
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 7
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)
Section D - Distributions Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes 1  
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in
excess of income from activity 		2  
3 Administrative expenses paid to accomplish exempt purposes of supported organizations 3  
4 Amounts paid to acquire exempt-use assets 4  
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI) 5  
6 Other distributions (describe in Part VI). See instructions 6  
7Total annual distributions. Add lines 1 through 6. 7  
8 Distributions to attentive supported organizations to which the organization is responsive (provide
details in Part VI). See instructions 		8  
9 Distributable amount for 2024 from Section C, line 6 9  
10 Line 8 amount divided by Line 9 amount 10  
Section E - Distribution Allocations (see instructions) (i)
Excess Distributions 		(ii)
Underdistributions
Pre-2024 		(iii)
Distributable
Amount for 2024
1 Distributable amount for 2024 from Section C, line 6  
2 Underdistributions, if any, for years prior to 2024 (reasonable cause required-- explain in Part VI).
See instructions.		  
3 Excess distributions carryover, if any, to 2024:
a From 2019.......  
b From 2020.......  
c From 2021.......  
d From 2022.......  
e From 2023.......  
fTotal of lines 3a through e  
g Applied to underdistributions of prior years  
h Applied to 2024 distributable amount  
i Carryover from 2019 not applied (see
instructions) 		 
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.  
4Distributions for 2024 from Section D, line 7:
$  
a Applied to underdistributions of prior years  
b Applied to 2024 distributable amount  
c Remainder. Subtract lines 4a and 4b from line 4.  
5 Remaining underdistributions for years prior to
2024, if any. Subtract lines 3g and 4a from line 2.
If the amount is greater than zero, explain in Part VI.
See instructions. 		 
6 Remaining underdistributions for 2024. Subtract
lines 3h and 4b from line 1. If the amount is greater
than zero, explain in Part VI. See instructions. 		 
7 Excess distributions carryover to 2025. Add lines
3j and 4c. 		 
8 Breakdown of line 7:
a Excess from 2020.....  
b Excess from 2021.....  
c Excess from 2022.....  
d Excess from 2023.....  
e Excess from 2024.....  
Schedule A (Form 990) (2024)

Schedule A (Form 990) 2024
Page 8
Part VI
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Return Reference Explanation
Schedule A (Form 990) 2024


Additional Data


Software ID: 24020961
Software Version: 2024v5.1
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
 
Employer identification number

13-1599108
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ
501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization


Form 990-PF
501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation
Check if your organization is covered by the General Rule or a Special Rule.  
Note:  Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.
Special Rules
For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 331/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.
For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow $  
Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025) Page 2
Name of organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
  		Employer identification number
13-1599108
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
 
 
 
 
  ,    

$ RESTRICTED


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 3
Name of organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
  		Employer identification number

13-1599108
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
(a)
No. from Part I 		(b)
Description of noncash property given 		(c)
FMV (or estimate)
(See instructions) 		(d)
Date received
 
$    
Schedule B (Form 990) (Rev. 1-2025)
Schedule B (Form 990) (Rev. 1-2025)
Page 4
Name of organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
  		Employer identification number

13-1599108
Part III
Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $  
Use duplicate copies of Part III if additional space is needed.
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a)
No. from Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990) (Rev. 1-2025)
Additional Data


Software ID: 24020961
Software Version: 2024v5.1
SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
right arrow Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow Attach to Form 990.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
 
Employer identification number

13-1599108
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .........    
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year)    
4 Aggregate value at end of year ........    
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ...................... 2a  
b Total acreage restricted by conservation easements .................... 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow  
4
Number of states where property subject to conservation easement is located right arrow  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenue included on Form 990, Part VIII, line 1 .........................right arrow $  
(ii)
Assets included in Form 990, Part X ...............................right arrow $  
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:
a
Revenue included on Form 990, Part VIII, line 1 ..........................right arrow $  
b
Assets included in Form 990, Part X ...............................right arrow $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b If "Yes," explain the arrangement in Part XIII and complete the following table: Amount
c Beginning balance ............................. 1c  
d Additions during the year ............................ 1d  
e Distributions during the year .......................... 1e  
f Ending balance ................................ 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance .... 2,920,773,191 2,629,918,394 2,880,339,115 2,896,438,656 2,270,643,916
b Contributions ... 42,712,240 68,417,428 18,730,933 46,438,597 59,032,633
c Net investment earnings, gains, and losses 417,262,759 310,010,618 -191,786,467 11,804,298 640,117,881
d Grants or scholarships ... 96,139,452 87,573,249 77,365,187 74,342,436 71,535,323
e Other expenditures for facilities
and programs ... 		        1,820,451
f Administrative expenses ....          
g End of year balance ...... 3,284,608,738 2,920,773,191 2,629,918,394 2,880,339,115 2,896,438,656
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment right arrow1.91 %
b
Permanent endowment right arrow98.09 %
c
Term endowment right arrow  
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
 
No
(ii) Related organizations .................
3a(ii)
 
No
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land ..... 638,732,808 502,128,829 1,140,861,637
b Buildings ....   3,922,096,256 856,867,335 3,065,228,921
c Leasehold improvements 0 0 0 0
d Equipment .... 0 771,210,675 656,703,123 114,507,552
e Other ..... 0 150,636,208 0 150,636,208
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..right arrow 4,471,234,318
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 3
Part VII
Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1) Financial derivatives......... 0  
(2) Closely-held equity interests........ 0  
(3) Other
(A) Closely-held equity interests		 0  

(B) Financial derivatives		 0  

(C)   		0  

(D) Cambridge University Endowment Fund units		 6,347,875,520 F

(E) Cambridge Multi-Asset Fund units		 708,369,684 F

(F) Investments in spin-out companies		 140,013,646 F

(G) Investments in subsidiaries		 53,825,252 C

(H) Other		 1,209,409 C
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)right arrow 7,251,293,511
Part VIII
Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)right arrow  
Part IX
Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........right arrow  
Part X
Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
(1) Federal income taxes 0
Federal Income Taxes 0
Investments / cash equivalents held for third parties 1,537,286,628
Cash equivalents held for subsidiaries 85,507,083
Investments / cash equivalents held for colleges and associated bodies 7,536,246





Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)right arrow 1,630,329,957
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII
Schedule D (Form 990) (Rev. 1-2025)

Schedule D (Form 990) (Rev. 1-2025)
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ........... 2d 0
e Add lines 2a through 2d ..................... 2e 0
3 Subtract line 2e from line 1.................. 3 0
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b 0
c Add lines 4a and 4b.................... 4c 0
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 0
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ........... 2d 0
e Add lines 2a through 2d.................... 2e 0
3 Subtract line 2e from line 1................... 3 0
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ........... 4b 0
c Add lines 4a and 4b..................... 4c 0
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 0
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
Schedule D, Part III, Line 4 Collections of art - description of collections THE UNIVERSITY HOLDS AND CONSERVES CERTAIN COLLECTIONS, ARTIFACTS AND OTHER ASSETS OF HISTORICAL, ARTISTIC OR SCIENTIFIC IMPORTANCE. MOST OF THESE ARE HOUSED IN THE UNIVERSITY'S NATIONALLY ACCREDITED MUSEUMS, COLLECTIONS AND IN ITS LIBRARIES, PROVIDING A VALUABLE RESEARCH AND EDUCATIONAL RESOURCE LOCALLY, NATIONALLY AND INTERNATIONALLY AS WELL AS UNRIVALED OPPORTUNITY TO PRESENT THE UNIVERSITY'S WORK TO A WIDE AUDIENCE. OTHER COLLECTIONS ARE HELD IN ACADEMIC DEPARTMENTS OR ARE ON DISPLAY AS PUBLIC ART. MAJOR COLLECTIONS INCLUDE THOSE HELD BY THE UNIVERSITY LIBRARY, A LEGAL DEPOSIT, THE BOTANICAL GARDEN AND THE FITZWILLIAM MUSEUM. IN RESPECT OF ITS MAJOR COLLECTIONS, THE UNIVERSITY'S PRACTICE, IN ACCORDANCE WITH THE NATIONAL ACCREDITATION STANDARDS IS: TO PRESERVE, CONSERVE AND MANAGE OBJECTS IN ITS CARE; TO AUGMENT THE COLLECTIONS WHERE APPROPRIATE AND WITHIN THE RESOURCES AVAILABLE; TO ENABLE AND ENCOURAGE ACCESS TO AND USE OF THE COLLECTIONS FOR TEACHING AND RESEARCH; AND TO ENABLE WIDE ACCESS TO AND ENGAGEMENT WITH THE COLLECTIONS BY MEMBERS OF THE GENERAL PUBLIC. HERITAGE ASSETS ACQUIRED SINCE 1ST AUGUST 1999 HAVE BEEN CAPITALIZED. THE MAJORITY OF ASSETS HELD IN THE UNIVERSITY'S COLLECTIONS WERE ACQUIRED BEFORE 1ST AUGUST 1999; BECAUSE RELIABLE ESTIMATES OF COST OR VALUATION ARE NOT AVAILABLE FOR THESE ON A COST BENEFIT BASIS THEY HAVE NOT BEEN CAPITALIZED. AS A RESULT THE TOTAL INCLUDED IN THE BALANCE SHEET IS PARTIAL.
Schedule D, Part V, Line 4 Intended uses of endowment funds The University's Endowment Funds are used to further its educational and research activities.
Schedule D (Form 990) (Rev. 1-2025)


Additional Data


Software ID: 24020961
Software Version: 2024v5.1




SCHEDULE E(Form 990)
(Rev. January 2025)


Department of the Treasury
Internal Revenue Service
Schools

Right pointing arrow large image Complete if the organization answered "Yes" on Form 990,
Part IV, line 13, or Form 990-EZ, Part VI, line 48.
Right pointing arrow large image Attach to Form 990 or Form 990-EZ.
Right pointing arrow large image Go to www.irs.gov/Form990EZ for instructions and the latest information.
OMB No. 1545-0047Open to Public Inspection
Name of the organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
 
Employer identification number

13-1599108
Part I
YES
NO
1
Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws,
other governing instrument, or in a resolution of its governing body? . . . . . . . . . . . . . . . . . .
1
Yes
 
2
Does the organization include a statement of its racially nondiscriminatory policy toward students in all its
brochures, catalogues, and other written communications with the public dealing with student admissions,
programs, and scholarships? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Yes
 
3
Has the organization publicized its racially nondiscriminatory policy on its primary publicly accessible Internet homepage at
all times during its taxable year in a manner reasonably expected to be noticed by visitors to the homepage, or through
newspaper or broadcast media during the period of solicitation for students, or during the registration period if it has no
solicitation program, in a way that makes the policy known to all parts of the general community it serves? If "Yes," please
describe. If "No," please explain. If you need more space use Part II. . . . . . . . . . . . . . . . . . .
3
Yes
 
 
4
Does the organization maintain the following:
a
Records indicating the racial composition of the student body, faculty, and administrative staff? . . . . . . . . .
4a
Yes
 
b
Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory
basis? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4b
Yes
 
c
Copies of all catalogues, brochures, announcements, and other written communications to the public dealing
with student admissions, programs, and scholarships? . . . . . . . . . . . . . . . . . . . . . . .
4c
Yes
 
d
Copies of all material used by the organization or on its behalf to solicit contributions? . . . . . . . . . . . .
4d
Yes
 
If you answered "No" to any of the above, please explain. If you need more space, use Part II.
 
5
Does the organization discriminate by race in any way with respect to:
a
Students' rights or privileges? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5a
 
No
b
Admissions policies? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5b
 
No
c
Employment of faculty or administrative staff? . . . . . . . . . . . . . . . . . . . . . . . . .
5c
 
No
d
Scholarships or other financial assistance? . . . . . . . . . . . . . . . . . . . . . . . . . .
5d
 
No
e
Educational policies? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5e
 
No
f
Use of facilities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5f
 
No
g
Athletic programs? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5g
 
No
h
Other extracurricular activities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5h
 
No
If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.
 
6a
Does the organization receive any financial aid or assistance from a governmental agency? . . . . . . . . . .
6a
Yes
 
b
Has the organization's right to such aid ever been revoked or suspended? . . . . . . . . . . . . . . . .
6b
 
No
If you answered "Yes" to either line 6a or line 6b, explain in Part II.
7
Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 4.05
of Rev. Proc. 75-50, 1975-2 C.B. 587, as modified by Rev. Proc. 2019-22, 2019-22 I.R.B. 1260, covering racial nondiscrimination? If "No," explain in Part II. . . . . . . . . . . . . . . . . . . . . . . . . .
7
Yes
 
Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50085D
Schedule E (Form 990) (Rev. 1-2025)
Schedule E (Form 990) (Rev. 1-2025)
Page 2
Part II
Supplemental Information. Provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also provide
any other additional information. See instructions.
Return Reference Explanation
Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY Our admissions policy is accessible on our website and is referred to in our prospectus.
Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT The University receives various grants from governmental agencies.
Schedule E (Form 990) (Rev. 1-2025)
Additional Data


Software ID: 24020961
Software Version: 2024v5.1
SCHEDULE F(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right arrow Complete if the organization answered "Yes" to Form 990, Part IV, line 14b, 15, or 16.Right arrow Attach to Form 990.Right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
 
Employer identification number

13-1599108
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 14b.
1
For grantmakers. Does the organization maintain records to substantiate the amount of its grants and
other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria used
to award the grants or assistance? . . . . . . . . . . . . . . . . . . . . . . . . .
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.
3
Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in the region (d) Activities conducted in region (by type) (such as, fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in the region		 (f) Total expenditures
for and investments
in the region
East Asia and the Pacific 2 110 Program Services Publishing and distribution 22,390,326
Europe (Including Iceland and Greenland) 3 19,940   FUNDRAISING, PROGRAM SERVICES, GRANTMAKING, UNRELATED BUSINESS ACTIVITIES, INVESTMENTS, CONDUCTING BOARD MEETINGS, SPEAKING ENGAGEMENTS, CONFERENCE TRAVEL 3,408,979,790
South America 1 61 Program Services Publishing, assessment, research 16,937,552
Middle East and North Africa 1 18 Program Services Publishing. assessment 3,997,028
           
           
           
           
           
           
           
           
           
           
           
           
           
3a Sub-total .... 7 20,129 3,452,304,696
b Total from continuation sheets to Part I ... 0 0 0
c Totals (add lines 3a and 3b) 7 20,129 3,452,304,696
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount
of noncash
assistance 		(h) Description
of noncash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
East Asia and the Pacific Donation 1,732,312 Wire transfer      
Europe (Including Iceland and Greenland) Donations 164,307,436 Wire transfer      
             
             
             
             
             
             
             
             
             
             
             
             
             
             
2 Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .......MediumBullet
2
3 Enter total number of other organizations or entities .......................MediumBullet
0
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 16.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
noncash
assistance 		(g) Description
of noncash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
Scholarships Europe (Including Iceland and Greenland) 1,400 26,392,892 Wire transfer      
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2 Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to separately file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; don't file with Form 990). . . . . . . . . . . . . . . . . . . . . . . .
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471). . . . . . . . . . . . . . . . . . . . . . . . . . . .
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621) .
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships (see Instructions for Form 8865). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990).. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 5
Part V
Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information. See instructions.
ReturnReference Explanation
Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds Grants to individuals are made up of a high number of small payments.
Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; MIDDLE EAST AND NORTH AFRICA-Accrual; SOUTH AMERICA-Accrual
Schedule F, Part II, Line 1 Method used to account for expenditures on org's financial statements EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual
Schedule F, Part III Method used to account for expenditures on org's financial statements EUROPE (INCLUDING ICELAND AND GREENLAND) -Accrual
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) (Rev. 1-2025)
Additional Data


Software ID: 24020961
Software Version: 2024v5.1



Schedule J
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic Attach to Form 990.
medium right arrow graphic Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
 
Employer identification number

13-1599108
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....
2
Yes
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? .............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ....................
5a
 
No
b
Any related organization? .......................
5b
 
No
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ..................
6a
 
No
b
Any related organization? ......................
6b
 
No
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
 
No
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................
8
 
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation in column (B) reported as deferred on prior Form 990
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1Professor Deborah Prentice
Vice-Chancellor 		(i)

(ii)		 459,817
-------------
0 		0
-------------
0 		31,943
-------------
0 		107,884
-------------
0 		0
-------------
0 		599,644
-------------
0 		0
-------------
0
2Professor Kamal Munir
Senior Pro-Vice-Chancellor 		(i)

(ii)		 269,025
-------------
0 		0
-------------
0 		0
-------------
0 		47,167
-------------
0 		0
-------------
0 		316,192
-------------
0 		0
-------------
0
3Dr Diarmuid O'Brien
Pro-Vice-Chancellor (Innovation) 		(i)

(ii)		 235,712
-------------
0 		0
-------------
0 		0
-------------
0 		51,711
-------------
0 		0
-------------
0 		287,423
-------------
0 		0
-------------
0
4Professor Bhaskar Vira
Senior Pro-Vice-Chancellor 		(i)

(ii)		 215,318
-------------
0 		0
-------------
0 		0
-------------
0 		47,167
-------------
0 		0
-------------
0 		262,485
-------------
0 		0
-------------
0
5Professor David Cardwell
Professor of Superconducting Engineering (2003) 		(i)

(ii)		 211,783
-------------
0 		0
-------------
0 		0
-------------
0 		46,365
-------------
0 		0
-------------
0 		258,148
-------------
0 		0
-------------
0
6Professor Anna Philpott
Pro-Vice-Chancellor (Resources and Operations) (AS OF 10/24) 		(i)

(ii)		 184,526
-------------
0 		0
-------------
0 		0
-------------
0 		40,482
-------------
0 		0
-------------
0 		225,008
-------------
0 		0
-------------
0
7Professor Sharon Peacock
Professor of Public Health and Microbiology (2019) 		(i)

(ii)		 224,537
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		224,537
-------------
0 		0
-------------
0
8Professor John Aston
Pro-Vice-Chancellor (Research) 		(i)

(ii)		 158,388
-------------
0 		0
-------------
0 		0
-------------
0 		52,735
-------------
0 		0
-------------
0 		211,123
-------------
0 		0
-------------
0
9Professor Andrew Neely
Professor of Manufacturing Engineering (1960) 		(i)

(ii)		 201,130
-------------
0 		0
-------------
0 		0
-------------
0 		4,588
-------------
0 		0
-------------
0 		205,718
-------------
0 		0
-------------
0
10Professor Anne Ferguson-Smith
Arthur Balfour Professor of Genetics (1912) 		(i)

(ii)		 161,075
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		161,075
-------------
0 		0
-------------
0
11Mr Anthony Odgers
Unestablished Chief Financial Officer 		(i)

(ii)		 531,386
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		531,386
-------------
0 		0
-------------
0
12Mr Andrew Chandler
Chief Executive - CUP&A 		(i)

(ii)		 795,762
-------------
0 		163,787
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		959,549
-------------
0 		0
-------------
0
13Mr Peter Phillips
CFO - CUP&A 		(i)

(ii)		 690,218
-------------
0 		266,634
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		956,852
-------------
0 		0
-------------
0
14Professor Patrick Maxwell
Professor of Physic (Regius) (1540) 		(i)

(ii)		 411,614
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		411,614
-------------
0 		0
-------------
0
15Ms Vanessa McPhee
CFO - CUP&A 		(i)

(ii)		 283,050
-------------
0 		107,308
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		390,358
-------------
0 		0
-------------
0
16Professor Stylianos Kavadias
Margaret Thatcher Professor of Enterprise Studies 		(i)

(ii)		 522,917
-------------
0 		0
-------------
0 		0
-------------
0 		65,235
-------------
0 		0
-------------
0 		588,152
-------------
0 		0
-------------
0
17Mr Rodrick Smith
Managing Director - International Education 		(i)

(ii)		 357,310
-------------
0 		125,304
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		482,614
-------------
0 		0
-------------
0
18Mr Mark Maddocks
CIO - CUP&A 		(i)

(ii)		 341,220
-------------
0 		124,252
-------------
0 		0
-------------
0 		0
-------------
0 		0
-------------
0 		465,472
-------------
0 		0
-------------
0
19Ms Kishore Sengupta
Professor of Operations Management (Grade 11) 		(i)

(ii)		 289,270
-------------
0 		127,076
-------------
0 		0
-------------
0 		36,142
-------------
0 		0
-------------
0 		452,488
-------------
0 		0
-------------
0
20Ms Christopher Marquis
Sinyi Professor of Chinese Management (1997) 		(i)

(ii)		 266,227
-------------
0 		106,227
-------------
0 		0
-------------
0 		71,877
-------------
0 		0
-------------
0 		444,331
-------------
0 		0
-------------
0
Schedule J (Form 990) (Rev. 1-2025)

Schedule J (Form 990) (Rev. 1-2025)
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference Explanation
Schedule J, Part I, Line 1a Housing allowance or residence for personal use The University provides the Vice Chancellor, Professor Deborah Prentice, with a residence for personal use. This is treated as taxable compensation. The university also reimburses business flights.
Schedule J (Form 990) (Rev. 1-2025)

Additional Data


Software ID: 24020961
Software Version: 2024v5.1
SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large image Complete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
Right pointing arrow large image Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
Name of the organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
 
Employer identification number

13-1599108
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of contributions or items contributed 		(c)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash contribution amounts
1 Art—Works of art ....   9 2,735,299 Opinions of experts
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications ..      
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded .   6 4,474,330 Market value
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		       
12 Securities—Miscellaneous ..        
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential .        
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( )
26 Other Right pointing arrow large image ( )
27 Other Right pointing arrow large image ( )
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement
29
0
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that it must hold for at least three years from the date of the initial contribution, and which isn't required to be used for exempt purposes for the entire holding period? ...................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any nonstandard contributions?
31
 
No
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash
contributions? ..........................
32a
 
No
b
If "Yes," describe in Part II.
33
If the organization didn't report an amount in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) (2024)
Schedule M (Form 990) (2024)
Page 2
Part IISupplemental Information. Provide the information required by Part I, lines 30b, 32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.
Return Reference Explanation
Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art - THE ORGANIZATION REPORTS THE NUMBER OF CONTRIBUTIONS. Securities - Publicly traded - THE ORGANIZATION REPORTS THE NUMBER OF CONTRIBUTIONS.
Schedule M (Form 990) (2024)

Additional Data


Software ID: 24020961
Software Version: 2024v5.1
SCHEDULE O
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
 Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public
Inspection
Name of the organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
 
Employer identification number

13-1599108
Return Reference Explanation
Form 990, Part III, Line 4a-4c Description of program services (Expenses $ 509,305,136 including grants of $)(Revenue $ 465,512,658) PUBLISHING AND PRINTING
Form 990, Part VI, Line 15 A&B: THE UNIVERSITY COUNCIL (GOVERNING BODY) HAS A REMUNERATION COMMITTEE CHAIRED BY AN EXTERNAL MEMBER. THE COMMITTEE DRAWS HEAVILY ON EXTERNAL PROFESSIONAL ADVICE AND BENCH-MARKING IN DETERMINING APPROPRIATE RATES OF REMUNERATION.
Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE UNIVERSITY IS A DEMOCRATIC BODY ULTIMATELY CONTROLLED BY ITS ACADEMIC STAFF WHO ARE MEMBERS OF THE REGENT HOUSE. THERE ARE APPROXIMATELY 7,200 MEMBERS OF THE REGENT HOUSE. THESE MEMBERS ELECT 8 OF THE 25 MEMBERS OF THE UNIVERSITY COUNCIL AND HAVE THE RIGHT TO REVIEW THE COUNCIL'S DECISIONS.
Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders PLEASE REFER TO RESPONSE FROM 990, PART VI, LINE 7A.
Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM WITH INFORMATION PROVIDED BY THE UNIVERSITY'S FINANCE AND ACCOUNTING DEPARTMENT. AFTER PREPARATION IT IS REVIEWED BY THE FINANCE AND ACCOUNTING DEPARTMENT AND APPROVED FOR FILING BY THE UNIVERSITY'S HEAD OF TAX.
Form 990, Part VI, Line 12c Conflict of interest policy 1) SENIOR OFFICERS, DIRECTORS OF SUBSIDIARY COMPANIES AND MEMBERS OF DECISION-MAKING BODIES ARE REQUIRED TO COMPLETE AN ANNUAL RETURN DISCLOSING ANY OUTSIDE INTERESTS. 2) EVERY MEETING OF A DECISION-MAKING BODY (E.G. UNIVERSITY COMMITTEE) MUST START WITH AN INVITATION TO DISCLOSE ANY CONFLICTS OF INTEREST THE MATTERS BEING ADDRESSED. ANY INDIVIDUAL DISCLOSING A CONFLICT OF INTEREST IS NOT ABLE TO TAKE AN ACTIVE PART IN THE MATTER FOR DECISION. THE MINUTES OF THESE MEETINGS SHOWING THE DECLARATION OF THE CONFLICT OF INTEREST ARE PUBLISHED ONLINE.
Form 990, Part VI, Line 19 Required documents available to the public GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE UNIVERSITY'S WEBSITE.
Form 990, Part XI, Line 9 Other changes in net assets or fund balances Taxation - -13160747; Actuarial gain - 10892013; FX on balance sheet translation - XXX-XX-XXXX; Total - XXX-XX-XXXX;
SCHEDULE B, PART I SCHEDULE B IS REPORTING ALL GRANTS RECEIVED BY THE UNIVERSITY. A PORTION OF EACH CONTRIBUTION LISTED INCLUDES PROGRAM SERVICE REVENUE.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) (Rev. 1-2025)


Additional Data


Software ID: 24020961
Software Version: 2024v5.1
SCHEDULE R
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047
Open to Public Inspection
Name of the organization
THE CHANCELLOR MASTERS AND SCHOLARS Of the University of Cambridge
 
Employer identification number

13-1599108
Part I
Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity










Part II
Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No
(1)CAMBRIDGE INSTITUTE FOR SUSTAINABILITY
MELBOURNE VIC 3004
MELBOURNE,MELBOURNE3004
AS
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(2)CAMBRIDGE INSTITUTE FOR SUSTAINABILITY
27 BUITEKANT STREET
CAPETOWN,CAPETOWN6848
SF
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(3)CAMBRIDGE INSTITUTE FOR SUSTAINABILITY
THE PERICLES BLDG RUE DE LA SC
BRUSSELS,BRUSSELSB1040
BE
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(4)CAMBRIDGE COMMONWEALTH EURO & INT'L
53-54 SIDNEY STREET
CAMBRIDGE,CAMBRIDGECB23HX
UK
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(5)GATES CAMBRIDGE TRUST
33 BRIDGE STREET
CAMBRIDGE,CAMBRIDGECB21UW
UK
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(6)MALAYSIAN COMMONWEALTH STUDIES CENTRE
11 MADINGLEY ROAD
CAMBRIDGE,CAMBRIDGECB30EG
UK
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(7)DENNIS AVERY ENDOWMENT TRUST
TRINITY LANE
CAMBRIDGE,CAMBRIDGECB21TS
UK
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(8)UTS CAMBRIDGE
TRINITY LANE
CAMBRIDGE,CAMBRIDGECB21TS
UK
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(9)FOUNDATION FOR POPULATION HEALTH & GEN
2 WORTS CAUSEWAY
CAMBRIDGE,CAMBRIDGECB18RN
UK
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(10)LODGE PROPERTY SERVICES LIMITED
THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE,CAMBRIDGECB21TN
UK
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(11)CAMBRIDGE INDIA RESEARCH FOUNDATION
314 -321 SPLENDOR FORUM
NEW DELHI   110025
IN
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
(12)FUNDACION UCLES
ALCALA 21
MADRID   110025
SP
SERVICES   501(c)(3)   CAMBRIDGE
 
Yes
 
(13)CAMBRIDGE ASSESSMENT INC
295 MADISON AVENUE SUITE 715

NEW YORK,NY10017
 SERVICES   501(c)(3)   CAMBRIDGE
 
Yes
 
(14)CAMBRIDGE ASSESSMENTS SINGAPORE
331 N BRIDGE RD ODEON TOWERS 07
SINGAPORE   188720
SN
EXAM SERVICES   501(c)(3)   CAMBRIDGE
 
Yes
 
(15)OXFORD CAMBRIDGE AND RSA EXAMS
THE TRIANGLE BLDGSHAFTESBURY
CAMBRIDGE   CB28EA
UK
EXAM SERVICES   501(c)(3)   CAMBRIDGE
 
Yes
 
(16)WEST MIDLANDS EXAMS BOARD
THE TRIANGLE BLDGSHAFTESBURY
CAMBRIDGE   CB28EA
UK
EXAM SERVICES   501(c)(3)   CAMBRIDGE
 
Yes
 
(17)OCR NATIONALS
THE TRIANGLE BLDGSHAFTESBURY
CAMBRIDGE   CB28EA
UK
EXAM SERVICES   501(c)(3)   CAMBRIDGE
 
Yes
 
(18)RSA EXAMINATIONS BOARD
THE TRIANGLE BLDGSHAFTESBURY
CAMBRIDGE   CB28EA
UK
EXAM SERVICES   501(c)(3)   CAMBRIDGE
 
Yes
 
(19)CAMBRIDGE ENGLISH (AUS)
LEVEL 11 466 COLLINS STREET
MELBOURNE   VIC3000
AS
EDUCATION   501(c)(3)   CAMBRIDGE
 
Yes
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) CAMBRIDGE CLASSSERVER LLP

SHAFTESBURY RD UNIV PRINTING
CAMBRIDGE,CAMBRIDGECB28BS
UK
DEVELOPMENT AND COMMERCIALISATION OF DIGITAL EDUCATIONAL MATERIAL UK U OF CAMBRIDGE
  		N/A 0 0   No     No 67 %
(2) CAMBRIDGE UNIV ENDOWMENT FUND

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TN
UK
INVESTMENTS UK  
Unrelated       No     No 78 %
(3) CAMBRIDGE MULTI-ASSET FUND

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21T
UK
INVESTMENTS UK  
Unrelated       No     No 100 %








Part IV
Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) CAMBRIDGE CENTRE FOR ADVANCED RESEARCH AND EDUCATION IN SINGAPORE LIMITED

22B DUXTON HILL
  Tanjong Pagar089605
SN
RESEARCH AND EXPERIMENTAL DEVELOPMENT SN C CORP
  		C Corporation 9,757,961 2,883 100 % Yes  
(2) CAMBRIDGE ENTERPRISE LIMITED

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TS
UK
COMMERCIAL EXPLOITATION OF INTELLECTUAL PROPERTY   C CORP
  		C Corporation 8,438,123 -4,227,911 100 % Yes  
(3) CAMBRIDGE SUSTAINABILITY LTD

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TN
UK
SUSTAINABILITY LEADERSHIP PROGRAMMES   C CORP
  		C Corporation 0 -1,036 100 % Yes  
(4) UNIVERSITY OF CAMBRIDGE INVESTMENT MANAGEMENT LIMITED

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TS
UK
INVESTMENT MANAGEMENT   C CORP
  		C Corporation 10,804,193 3,837,677 100 % Yes  
(5) CAMBRIDGE UNIVERSITY TECHNICAL SERVICES LIMITED

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TS
UK
CONSULTANCY AND COMMERCIAL EXPLOITATION OF INTELLECTUAL PROPERTY   C CORP
  		C Corporation 16,327,157 1,353,283 100 % Yes  
(6) CURATING CAMBRIDGE LTD

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TS
UK
PUBLICATION OF FINE ART BOOKS AND SALE OF MUSEUM MERCHANDISE   C CORP
  		C Corporation 3,011,185 168,932 100 % Yes  
(7) IFM ENGAGE LIMITED

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TS
UK
CONSULTANCY AND COMMERCIAL EXPLOITATION OF INTELLECTUAL PROPERTY   C CORP
  		C Corporation 8,128,115 858,671 100 % Yes  
(8) JBS EXECUTIVE EDUCATION LIMITED

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TS
UK
PROVISION OF CORPORATE EDUCATION SERVICES   C CORP
  		C Corporation 33,580,333 4,107,383 100 % Yes  
(9) LYNXVALE LIMITED

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TS
UK
PROVISION OF CONSTRUCTION AND DEVELOPMENT SERVICES   C CORP
  		C Corporation 53,855,285 133 100 % Yes  
(10) CAMBRIDGE UNIVERSITY INTERNATIONAL HOLDINGS LIMITED

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TN
UK
HOLDING COMPANY FOR UNIVERSITY'S INVESTMENTS IN OVERSEAS PROJECTS   C CORP
  		C Corporation 0 737,693 100 % Yes  
(11) CAMBRIDGE UNIVERSITY RESEARCH AND INNOVATION (NANJING) LTD

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TN
UK
RESEARCH AND DEVELOPMENT CH C CORP
  		C Corporation 5,627 656,323 100 % Yes  
(12) PORTAL ESTATE MANAGEMENT LIMITED

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TN
UK
MANAGEMENT AND MAINTENANCE OF THE NORTH WEST CAMBRIDGE ESTATE   C CORP
  		C Corporation 1,861,193 -340,603 100 % Yes  
(13) CORE SUSTAINABLE HEAT MANAGEMENT LIMITED

THE OLD SCHOOLS TRINITY LANE
CAMBRIDGE   CB21TN
UK
NORTH WEST CAMBRIDGE ESTATE HOT WATER AND HEATING SERVICES   C CORP
  		C Corporation 1,896,492 -217,631 100 % Yes  
(14) STOREYS FIELD COMMUNITY TRUST

STOREYS FIELD CENTRE EDDINGTON A
CAMBRIDGE   CB31AA
UK
MANAGEMENT SERVICES FOR THE NORTH WEST   C CORP
  		C Corporation 488,235 1,056,806 100 % Yes  
(15) INNOVATE CAMBRIDGE LTD

3RD FLOOR 22 STATION ROAD
CAMBRIDGE   CB12JD
UK
PUBLIC RELATIONS   C CORP
  		C Corporation 813,487 108,259 100 % Yes  
(16) UNIVERSITY OF CAMBRIDGE RESEARCH SERVICES EUROPE LTD

13-18 CITY QUAY DUBLIN 2
DUBLIN   D02ED70
EI
DORMANT EI C CORP
  		C Corporation 0 0 100 % Yes  
(17) CAMBRIDGE KNOWLEDGE (CHINA) LIMITED

6 DUDDELL STREET CENTRAL
HONG KONG    
CH
OVERSEAS OFFICE SERVICES CH CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 388,166 1,001,389 100 % Yes  
(18) CAMBRIDGE LEARNING LIMITED UNIVERSITY PRINTING HOUSE

UNIVERSITY PRINTING HOUSE SHAFTESB
CAMBRIDGE   CB28BS
UK
NOT ACTIVE   CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 0 0 100 % Yes  
(19) CAMBRIDGE-OBEIKAN COMPANY LIMITED

POST OFFICE BOX 43158
Riyadh   11561
SA
OVERSEAS OFFICE SERVICES SA CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 0 1,105,162 50 %   No
(20) CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED

UNIVERSITY PRINTING HOUSE SHAFTESB
CAMBRIDGE   CB28BS
UK
HOLDING COMPANY   CAMBRIDGE UNIVERSITY
  		C Corporation 18,004,516 36,309,035 100 % Yes  
(21) CAMBRIDGE UNIVERSITY PRESS AND ASSESSMENT INDIA PRIVATE LIMITED

314-321 PLOT NO 3 SPLENDOR FORUM J
NEW DELHI   110025
IN
EDUCATION SERVICES IN CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 20,584,094 33,384,436 100 % Yes  
(22) CAMBRIDGE KAZAKHSTAN LIMITED

UNIVERSITY PRINTING HOUSE SHAFTESB
CAMBRIDGE   CB28BS
UK
NOT ACTIVE   CAMBRIDGE UNIVERSITY
  		C Corporation 0 0 100 % Yes  
(23) CAMBRIDGE UNIVERSITY PRESS NIGERIA LIMITED

AMPAK PLAZA PLOT 3 OTUNBA JOBI FEL
Otunba Jobi Fele Way    
NI
OVERSEAS OFFICE SERVICES NI CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 392,617 181,261 100 % Yes  
(24) CAMBRIDGE DAIGAKU SHUPPAN KK

1-1-1 MINAMI AOYAMA MINATO-KU
Minatoku   1010054
JA
OVERSEAS OFFICE SERVICES JA CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 1,718,248 518,280 100 % Yes  
(25) CAMBRIDGE UNIVERSITY PRESS OPERATIONS LIMITED

UNIVERSITY PRINTING HOUSE SHAFTESB
CAMBRIDGE   CB28BS
UK
NOT ACTIVE   CAMBRIDGE UNIVERSITY
  		C Corporation 0 639,975 100 % Yes  
(26) CAMBRIDGE UNIVERSITY PRESS SATISVE DAGITIMTICARETLIMITED

SIRKETI LCERENKOY MAHALLESI SKUD
ATA EHIR   34022
TU
NOT ACTIVE TU CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 332,384 1,323 100 % Yes  
(27) CAMBRIDGE UNIVERSITY PRESS TURKEY SATISDESTEK LIMITED

SIRKETI LCERENKOY MAHALLESI SKUD
ATA EHIR,ATA EHIR34022
TU
OVERSEAS OFFICE SERVICES TU CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 1,132,279 366,718 100 % Yes  
(28) CAMBRIDGE UNIVERSITY PRESS SOUTH AFRICA PROPRIETARY LIMITED

NAUTICA BUILDING THE WATER CLUB B
CAPE TOWN   8005
SF
EDUCATION SERVICES SF CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 3,364,025 6,755,003 100 % Yes  
(29) DIGITAL SERVICES CAMBRIDGE LIMITED

UNIVERSITY PRINTING HOUSE SHAFTESB
CAMBRIDGE   CB28BS
UK
OVERSEAS OFFICE SERVICES   CAMBRIDGE UNIVERSITY
  		C Corporation 29,846,182 10,880,315 100 % Yes  
(30) EDITORIAL EDICAMBRIDGE CIA LTDA

Los Granados E14-606 3er Piso
Quito,PichinchaEC170505
EC
OVERSEAS OFFICE SERVICES EC CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 1,026,346 423,523 100 % Yes  
(31) ELT TRADING SA DE CV

INSURGENTES SUR 1196 PISO 10 COLONI
JuareZ   03200
MX
EDUCATION SERVICES MX CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 15,660,391 53,310,674 100 % Yes  
(32) HOTMATHS PTY LIMITED

32 LLOYD AVENUE
SYDNEY   NSW2090
AS
EDUCATION SERVICES AS CAMBRIDGE UNIVERSITY
  		C Corporation 2,491,616 2,621,033 65 %   No
(33) ONCOWEB LIMITED

UNIVERSITY PRINTING HOUSE SHAFTESB
CAMBRIDGE   CB28BS
UK
NOT ACTIVE   CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 0 0 100 % Yes  
(34) ENGLISH LANGUAGE ITUTORING LIMITED

THE TRIANGLE BUILDING SHAFTESBURY
CAMBRIDGE   CB28EA
UK
TECHNOLOGY AND BUSINESS ACTIVITY   CAMBRIDGE UNIVERSITY
  		C Corporation 2,836,741 266,276 100 % Yes  
(35) CAMBRIDGE UNIVERSITY PRESS EGYPT LLC

1ST FLOOR RED CON BUILDING NEW C
NEW CAIRO   12588
EG
OVERSEAS OFFICE SERVICES EG CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 503,791 137,611 100 % Yes  
(36) COGBOOKS LIMITED

2ND FLOOR NORTH SALTIRE COURT 20
EDINBURGH   EH12EN
UK
HOLDING COMPANY   CAMBRIDGE UNIVERSITY
  		C Corporation 54 4,944,758 100 % Yes  
(37) COGBOOKS INDIA PRIVATE LIMITED

GF 7 KARUNA COMPLEX NO337 SAMPIG
BANGALORE   56003
IN
EDUCATION SERVICES IN COGBOOKS LTD
  		C Corporation 252,056 892,183 100 % Yes  
(38) CAMBRIDGE UNIVERSITY PRESS VIETNAM COMPANY LIMITED

5TH FLOOR YOCO BUILDING 41 NGUYEN
HO CHI MINH    
VM
OVERSEAS OFFICE SERVICES VM CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 454,229 128,348 100 % Yes  
(39) CAMBRIDGE UNIVERSITY PRESS PAKISTAN (PRIVATE) LIMITED

THE HIVE AT CLIFTON D-39 2ND FLOO
KARACHI    
PK
NOT ACTIVE PK CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 0 2 100 % Yes  
(40) CAMBRIDGE UNIVERSITY PRESS MALAYSIA

SENDIRIAN BERHAD SUITE 1303 13
KUALA LUMPUR   50400
MY
OVERSEAS OFFICE SERVICES MY CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 779,339 247,697 100 % Yes  
(41) CAMBRIDGE UNIVERSITY PRESS SINGAPORE PRIVATE LIMITED

103 PENANG ROAD 05-06/07 VISIONCR
    238647
SN
OVERSEAS OFFICE SERVICES SN CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 3,445,821 1,516,107 100 % Yes  
(42) CAMBRIDGE UNIVERSITY PRESS-QATAR LLC

OFFICE 45 HUB BUSINESS CENTER 2N
QATAR,QATAR  
QA
OVERSEAS OFFICE SERVICES QA CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 340,251 192,966 100 % Yes  
(43) CAMBRIDGE ASSESSMENT OVERSEAS LIMITED

THE TRIANGLE BUILDING SHAFTESBURY
CAMBRIDGE   CB28EA
UK
HOLDING COMPANY   CAMBRIDGE UNIVERSITY
  		C Corporation 15,073,691 2,278,399 100 % Yes  
(44) CAMBRIDGE AVALIACAO REPRESENTACAO E PROMOCAO LTDA

AV PAULISTA 1337 CONJ 201
SAO PAULO   01311200
BR
EDUCATION SERVICES BR CAMBRIDGE ASSESSMENT OVERSEAS LTD
  		C Corporation 1,019,095 1,359,611 100 % Yes  
(45) CAMBRIDGE CONSULTING (BEIJING) CO LTD

ROOM 0603 NO 2 BUILDING 66 ZHONGG
BEIJING    
CH
OVERSEAS OFFICE SERVICES CH CAMBRIDGE ASSESMENT OVERSEAS LIMITED
  		C Corporation 8,750,421 3,356,725 100 % Yes  
(46) CAMBRIDGEBOXHILL LANGUAGE ASSESSMENT UNIT TRUST

MEZZANINE 278 FLINDERS LANE
MELBOURNE   3000
AS
EDUCATION SERVICES AS CAMBRIDGE BOXHILL LANGUAGE PTY LIMITED
  		Trust 21,053,334 45,171,175 70 % Yes  
(47) CAMBRIDGE BOXHILL LANGUAGE PTY LIMITED

MEZZANINE 278 FLINDERS LANE
MELBOURNE   3000
AS
EDUCATION SERVICES AS CAMBRIDGE ENGLISH (AUS)
  		C Corporation     70 % Yes  
(48) OET GLOBAL PTY LTD

LEVEL 17 452 FLINDERS STREET
MELBOURNE   3000
AS
EDUCATION SERVICES AS CAMBRIDGE BOXHILL LANGUAGE ASSESSMENT UNIT TRUST
  		C Corporation     70 % Yes  
(49) OET USA LLC

1209 ORANGE STREET
WILMINGTON,DE19801
 EXAMINATION SERVICES DE CAMBRIDGE BOXHILL LANGUAGE ASSESSMENT UNIT TRUST
  		C Corporation     70 % Yes  
(50) CAMBRIDGE ASSESSMENT INDIA PRIVATE LIMITED

3RD FLOOR 314-321 PLOT NO3 SPLE
NEW DELHI   110025
IN
NOT ACTIVE IN CAMBRIDGE ASSESMENT OVERSEAS LIMITED
  		C Corporation 0 907,489 100 % Yes  
(51) CAMBRIDGE ASSESSMENT PAKISTAN PRIVATE LIMITED

OFFICE NO 23 2ND FLOOR PARK LANE
LAHORE    
PK
OVERSEAS OFFICE SERVICES PK CAMBRIDGE ASSESMENT OVERSEAS LIMITED
  		C Corporation 1,752,877 96,926 100 % Yes  
(52) OXFORDAND CAMBRIDGE INTERNATIONAL ASSESSMENT SERVICES LIMITED

THE TRIANGLE BUILDING SHAFTESBURY
CAMBRIDGE   CB28EA
UK
OVERSEAS OFFICE SERVICES   CAMBRIDGE UNIVERSITY
  		C Corporation 183,644 127,134 100 % Yes  
(53) CAMBRIDGE PRESS & ASSESSMENT OPERATIONS INDIA PRIVATE LIMITED

3RD FLOOR 314-321 PLOT NO3 SPLE
NEW DELHI   110025
IN
EDUCATION SERVICES IN CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 6,175,853 2,870,005 100 % Yes  
(54) QUICK PLACEMENT TESTS LIMITED

THE TRIANGLE BUILDING SHAFTESBURY
CAMBRIDGE   CB28EA
UK
NOT ACTIVE   CAMBRIDGE UNIVERSITY
  		C Corporation 0 0 100 % Yes  
(55) PT CAMBRIDGE PRESS AND ASSESSMENT INDONESIA

15TH FLOOR PRIVATE OFFICE 102 PAN
    10270
ID
OVERSEAS OFFICE SERVICES ID CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 607,351 770,864 100 % Yes  
(56) CAMBRIDGE UNIVERSITY PRESS AL-ARABIA KINGDOM OF SAUDI ARABIA'

C/O AL SHARIF LAW FIRM AL MOUSA CO
RIYADH   11413
SA
NOT ACTIVE SA CAMBRIDGE UNIVERSITY PRESS (HOLDINGS) LIMITED
  		C Corporation 238,718 528,420 100 % Yes  
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 3
Part V
Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................
1a
Yes
 
b Gift, grant, or capital contribution to related organization(s) ............................
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) ............................
1c
Yes
 
d Loans or loan guarantees to or for related organization(s) ............................
1d
 
No
e Loans or loan guarantees by related organization(s) ............................
1e
 
No
f Dividends from related organization(s) ............................
1f
Yes
 
g Sale of assets to related organization(s) ............................
1g
 
No
h Purchase of assets from related organization(s) ............................
1h
 
No
i Exchange of assets with related organization(s) ............................
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) .......................
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) ......................
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) .....................
1l
Yes
 
m Performance of services or membership or fundraising solicitations by related organization(s) .................
1m
Yes
 
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................
1n
 
No
o Sharing of paid employees with related organization(s) ............................
1o
Yes
 
p Reimbursement paid to related organization(s) for expenses ............................
1p
Yes
 
q Reimbursement paid by related organization(s) for expenses ............................
1q
Yes
 
r Other transfer of cash or property to related organization(s) ............................
1r
Yes
 
s Other transfer of cash or property from related organization(s) ............................
1s
 
No
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) Cambridge Daigaku Shuppan KK

 M 1,695,909 Recharge of costs with a mark up, as per services agreement
(2) Cambridge Daigaku Shuppan KK

 Q 21,363 Recharge of costs (with no mark up)
(3) Cambridge Knowledge China Ltd

 M 389,916 Recharge of costs with a mark up, as per services agreement
(4) Cambridge Knowledge China Ltd

 Q 6,830 Recharge of costs (with no mark up)
(5) Cambridge University Press (Holdings) Limited

 M 16,673,126 Recharge of costs with a mark up, as per services agreement
(6) Cambridge University Press (Holdings) Limited

 Q 27,408 Recharge of costs (with no mark up)
(7) Cambridge University Press Egypt LLC

 M 502,363 Recharge of costs with a mark up, as per services agreement
(8) Cambridge University Press Egypt LLC

 Q 104,375 Recharge of costs (with no mark up)
(9) Cambridge University Press Egypt LLC

 P 19,504 Withholding tax expense from Egypt
(10) Cambridge University Press Vietnam Company Limited

 M 454,229 Recharge of costs with a mark up, as per services agreement
(11) Cambridge University Press Vietnam Company Limited

 Q 8,472 Recharge of costs (with no mark up)
(12) Cambridge University Press Malaysia Sendirian Berhad

 M 752,700 Recharge of costs with a mark up, as per services agreement
(13) Cambridge University Press Malaysia Sendirian Berhad

 Q 71,226 Recharge of costs (with no mark up)
(14) Cambridge University Press Singapore Private Limited

 M 3,283,754 Recharge of costs with a mark up, as per services agreement
(15) Cambridge University Press Singapore Private Limited

 Q 56,535 Recharge of costs (with no mark up)
(16) Cambridge University Press - Qatar LLC

 M 314,675 Recharge of costs with a mark up, as per services agreement
(17) Cambridge University Press - Qatar LLC

 Q 43,210 Recharge of costs (with no mark up)
(18) Cambridge University Press (Holdings) Limited

 C 1,428,789 Gift aid income received from Cambridge University Press (Holdings) Limited
(19) Cambridge University Press and Assessment India Private Limited

 L 6,837,575 Income in the year based on goods provided
(20) Cambridge University Press and Assessment India Private Limited

 M 548,459 Expenses in the year based on goods purchased
(21) Cambridge University Press and Assessment India Private Limited

 Q 1,185,809 Recharge of costs with a mark up, as per services agreement
(22) Cambridge University Press and Assessment India Private Limited

 L 922,214 Trademark income received from India
(23) Cambridge University Press and Assessment India Private Limited

 L 426,214 Intra-group IP income
(24) Cambridge University Press and Assessment India Private Limited

 P 502,874 Withholding tax expense from India
(25) Cambridge University Press and Assessment India Private Limited

 Q 319,165 15% commission on sales, subject to 15% mark up on costs
(26) Cambridge University Press and Assessment India Private Limited

 Q 24,495 Recharge of costs (with no mark up)
(27) Cambridge University Press Nigeria Limited

 M 246,863 Recharge of costs with a mark up, as per services agreement
(28) Cambridge Press & Assessment Operations India Private Limited

 M 6,626,799 Recharge of costs with a mark up, as per services agreement
(29) Cambridge Press & Assessment Operations India Private Limited

 Q 5,185 Recharge of costs (with no mark up)
(30) Cambridge University Press South Africa (Proprietary) Limited

 L 1,794,948 Income in the year based on goods provided
(31) Cambridge University Press South Africa (Proprietary) Limited

 M 510,253 Expenses in the year based on goods provided
(32) Cambridge University Press South Africa (Proprietary) Limited

 L 181,512 Recharge of costs with a mark up, as per services agreement
(33) Cambridge University Press South Africa (Proprietary) Limited

 L 94,209 15% commission on sales, subject to 15% mark up on costs
(34) Cambridge University Press South Africa (Proprietary) Limited

 L 245,450 Trademark income received from CUPSA
(35) Cambridge University Press Turkey Satis Destek Limited Sirketi

 M 1,098,895 Recharge of costs with a mark up, as per services agreement
(36) Cambridge University Press Turkey Satis Destek Limited Sirketi

 Q 17,851 Recharge of costs (with no mark up)
(37) Digital Services Cambridge Limited

 M 29,994,443 Recharge of costs with a mark up, as per services agreement
(38) Digital Services Cambridge Limited

 Q 141,586 Recharge of costs (with no mark up)
(39) ELT Trading SA de CV

 L 20,313,836 Income in the year based on goods provided
(40) ELT Trading SA de CV

 Q 490,222 15% commission on sales, subject to 15% mark up on costs
(41) ELT Trading SA de CV

 M 3,747,217 Expenses in the year based on goods provided
(42) ELT Trading SA de CV

 P 1,286,011 Recharge of costs with a mark up, as per services agreement
(43) Editorial Cambridge Ecuador

 M 1,020,263 Recharge of costs with a mark up, as per services agreement
(44) HOTmaths Pty Limited

 F 382,419 Dividend income from HotMaths
(45) Cambridge Assessment Overseas Limited

 M 15,122,886 Recharge of costs with a mark up, as per services agreement
(46) Cambridge Assessment Overseas Limited

 Q 3,783,991 Recharge of costs (with no mark up)
(47) Cambridge Assessment Overseas Limited

 A 51,125 Refund of principal + agreed interest rate on loan balance outstanding
(48) Cambridge Assessment Singapore

 B 1,732,312 Cash donation
(49) Cambridge Assessment Singapore

 Q 1,000,077 Recharge of costs (with no mark up)
(50) Cambridge Assessment Singapore

 M 477,520 Recharge of costs with a mark up, as per services agreement
(51) Cambridge Avaliacao Representacao e Promocao Ltda

 M 966,627 Recharge of costs with a mark up, as per services agreement
(52) Cambridge Avaliacao Representacao e Promocao Ltda

 Q 19,054 Recharge of costs (with no mark up)
(53) Cambridge Boxhill Language Assessment (Group)

 L 2,341,518 Recharge of costs with a mark up, as per services agreement
(54) Cambridge English (Aus)

 M 277,084 Recharge of costs with a mark up, as per services agreement
(55) Fundacion UCLES

 B 2,836,954 Cash donation
(56) Fundacion UCLES

 Q 579,925 Recharge of costs (with no mark up)
(57) Oxford and Cambridge International Assessment Services Limited

 M 163,381 Recharge of costs with a mark up, as per services agreement
(58) Oxford and Cambridge International Assessment Services Limited

 Q 82,607 Recharge of costs (with no mark up)
(59) Cambridge OCR (formerly Oxford Cambridge and RSA Examinations)

 L 42,612,290 Recharge of costs (with no mark up)
(60) Cambridge OCR (formerly Oxford Cambridge and RSA Examinations)

 P 9,793,815 Recharge of costs (with no mark up)
(61) Cambridge Consulting (Beijing) Co Ltd

 M 8,796,038 Recharge of costs with a mark up, as per services agreement
(62) English Language iTutoring Limited

 A 40,446 Agreed interest rate on loan balance outstanding
(63) English Language iTutoring Limited

 Q 435,783 Recharge of costs (with no mark up)
(64) English Language iTutoring Limited

 M 1,866,827 Recharge of costs with a mark up, as per services agreement
(65) English Language iTutoring Limited

 C 974,174 Write off of loan
(66) The West Midlands Examinations Board

 Q 5,196 Recharge of costs (with no mark up)
(67) Cambridge University Press Pakistan (Private) Limited

 Q 19,286 Recharge of costs (with no mark up)
(68) PT Cambridge Press and Assessment Indonesia

 M 618,036 Recharge of costs with a mark up, as per services agreement
(69) PT Cambridge Press and Assessment Indonesia

 Q 60,601 Recharge of costs (with no mark up)
(70) Cambridge University Press Al-Arabia

 M 241,611 Recharge of costs with a mark up, as per services agreement
(71) Cambridge University Press Al-Arabia

 Q 88,248 Recharge of costs (with no mark up)
(72) Cogbooks India Private Limited

 M 329,527 Recharge of costs with a mark up, as per services agreement
(73) Lodge Property Services Ltd

 J 8,019,235 As per lease agreement
(74) Cambridge Enterprise Limited

 L 1,217,726 As per services agreement
(75) Cambridge Institute for Sustainability Leadership (Belgium)

 L 63,864 As per services agreement
(76) Cambridge Institute for Sustainability Leadership (South Africa) NPC

 L 15,990 As per services agreement
(77) Cambridge University Technical Services Limited

 L 4,572,340 As per services agreement
(78) Cambridge&

 L 126 As per services agreement
(79) Core Sustainable Heat Management Limited

 L 62,613 As per services agreement
(80) Curating Cambridge Ltd

 L 330,888 As per services agreement
(81) Gates Cambridge Trust

 L 4,200,665 As per services agreement
(82) IfM Engage Limited

 L 660,912 As per services agreement
(83) JBS Executive Education Limited

 L 4,862,588 As per services agreement
(84) Lodge Property Services Ltd

 L 412,277 As per services agreement
(85) Lynxvale Limited

 L 514,295 As per services agreement
(86) PHG foundation

 L 76,569 As per services agreement
(87) Portal Estate Management

 L 259,163 As per services agreement
(88) Storeys Field Community Trust

 L 62,400 As per services agreement
(89) University of Cambridge Investment Management Limited

 L 1,431,174 As per services agreement
(90) Cambridge Institute for Sustainability Leadership (Belgium)

 A 1,425 Agreed rate on loan balance outstanding
(91) Cambridge Institute for Sustainability Leadership (South Africa) NPC

 A 18,823 Agreed rate on loan balance outstanding
(92) Curating Cambridge Ltd

 A 24,934 Agreed rate on loan balance outstanding
(93) Cambridge Enterprise Limited

 M 9,408,820 As per services agreement
(94) Cambridge Institute for Sustainability Leadership (Belgium)

 M 1,446,244 As per services agreement
(95) Cambridge Institute for Sustainability Leadership (South Africa) NPC

 M 536,548 As per services agreement
(96) Core Sustainable Heat Management Limited

 M 1,863 As per services agreement
(97) Curating Cambridge Ltd

 M 19,166 As per services agreement
(98) Gates Cambridge Trust

 M -31,547 As per services agreement
(99) IfM Engage Limited

 M 185,038 As per services agreement
(100) JBS Executive Education Limited

 M 1,349,547 As per services agreement
(101) Lodge Property Services Ltd

 M -274,136 As per services agreement
(102) Lynxvale Limited

 M 53,841,594 As per services agreement
(103) PHG foundation

 M 667,957 As per services agreement
(104) Portal Estate Management

 M 224,493 As per services agreement
(105) Storeys Field Community Trust

 M 264,996 As per services agreement
(106) University of Cambridge Investment Management Limited

 B 830,904 As per share capital subscription agreement
(107) Cambridge Enterprise Limited

 D 3,894,863 As per loan agreement
Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V-UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) (Rev. 1-2025)
Schedule R (Form 990) (Rev. 1-2025)
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R. See instructions.
Return Reference Explanation
Schedule R (Form 990) (Rev. 1-2025)

Additional Data


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