University of Victoria
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
A-
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
n/r
DEMONSTRATED IMPACT
The demonstrated impact per dollar Ci calculates from available program information.
NEED FOR FUNDING
Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.
72%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 72 cents are available for programs.
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OVERVIEW
About University of Victoria:
Founded in 1963, University of Victoria (UVic) is a leading research university located in the city of Victoria, on Canada’s west coast. UVic’s vision is to become the university that best integrates scholarships, engaged learning and real-life involvement to contribute to a better future for people and the planet. UVic’s core programs consist of education and research.
In the 2018-2019 academic year, University of Victoria was attended by 21,800 students (undergraduate and graduate). The university was ranked as the number one Canadian university for promoting indigenous visibility (Maclean’s 2018) with indigenous students making up 5.7% of the student population. UVic offers over 120 undergraduate and 160 graduate programs to its students under its seven faculties. It also offers professional degree and diploma programs as well as co-op opportunities on 51 different programs including Canada’s only law co-op. According to a 2017 survey, 92% of grads were satisfied/very satisfied with their programs, and 94% were satisfied/very satisfied with the quality of instruction they received.
In F2018, UVic spent $329m on research, of which $106m was sponsored. The university currently has 36 research chairs and 16 research centres. To date, UVic reports that its research has resulted in 169 start-up companies and 1,065 invention disclosures. The university also reports that it has filed 531 patents in its existence. In 2017, Maclean’s ranked UVic as the top university in Canada (tied with University of Toronto) for citation impact.
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Results and Impact
UVic reports that 74% of its co-op graduates receive an offer of employment prior to graduation. In F2019, a UVic microbiologist was awarded a patent for a potential vaccine against syphilis. The university reports that it has $3.7 billion in annual economic impact.
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Finances
University of Victoria is a Major 100 charity, with $31.3m in donations in F2018. The charity also collected $156m in tuition and received $274m in Government funding. Its administrative costs are 13% of revenues and fundraising costs are 15% of donations. For every dollar donated to the charity, 72 cents go to its programs. This is within Ci’s reasonable range for overhead spending. University of Victoria has net funding reserves of $738m of which $652m are donor-endowed. Excluding donor-endowed funds, reserves can cover program costs for 2 months.
This charity report is an update that has been sent to University of Victoria. Changes and edits may be forthcoming.
Updated on August 26, 2019 by Stefan Tetzlaff.
Financial Review
Fiscal year ending March
|
2018 | 2017 | 2016 |
|---|---|---|---|
| Administrative costs as % of revenues | 13.4% | 14.0% | 13.4% |
| Fundraising costs as % of donations | 14.7% | 14.8% | 14.2% |
| Total overhead spending | 28.1% | 28.8% | 27.6% |
| Program cost coverage (%) | 21.0% | 11.4% | (3.4%) |
Summary Financial StatementsAll figures in $000s |
2018 | 2017 | 2016 |
|---|---|---|---|
| Donations | 31,304 | 29,707 | 29,205 |
| Government funding | 273,638 | 257,850 | 264,624 |
| Fees for service | 156,128 | 155,421 | 150,756 |
| Business activities (net) | 70,269 | 71,013 | 67,619 |
| Investment income | 58,058 | 49,679 | 74,276 |
| Other income | 11,118 | 7,953 | 5,917 |
| Total revenues | 600,515 | 571,623 | 592,397 |
| Program costs | 442,905 | 471,472 | 451,940 |
| Administrative costs | 72,652 | 72,913 | 69,489 |
| Fundraising costs | 4,610 | 4,396 | 4,155 |
| Total spending | 520,167 | 548,781 | 525,584 |
| Cash flow from operations | 80,348 | 22,842 | 66,813 |
| Capital spending | 78,578 | 56,211 | 56,995 |
| Funding reserves | 737,982 | 675,296 | 590,999 |
Note: Ci has consolidated the financial statements of University of Victoria and University of Victoria Foundation. Ci used the charity’s T3010 filing to allocate admin and fundraising costs as the audited financials did not provide this breakdown. Ci backed these amounts out of program costs. Ci reported “net investment income & donations capitalized” as investment income, increasing total revenues by $7.7m in F2018, $5.3m in F2017, and $6.7m in F2016. Ci backed amortization out of program costs in F2018, F2017, and F2016.
Salary Information
$350k + |
1 |
$300k - $350k |
2 |
$250k - $300k |
5 |
$200k - $250k |
2 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2018
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Comments & Contact
Comments added by the Charity:
Charity Contact
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