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.
69%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 69 cents are available for programs.
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OVERVIEW
About University of Victoria:
University of Victoria is a 5-star charity with a good results reporting grade. Excluding donor-endowed funds from its funding reserves, UVic can only cover program costs for under three months. Like most Universities, UVic is financially transparent.
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.
University of Victoria states 22,020 students (undergraduate and graduate) attend the school. The University was ranked as the number one Canadian university for promoting Indigenous visibility (Maclean’s 2022). UVic offers over 120 undergraduate and 160 graduate programs to its students under its ten faculties. It also offers professional degree and diploma programs as well as co-op opportunities with 51 different programs including Canada’s only law co-op.
In F2021, UVic spent $109.3m on sponsored research. The University currently has 37 research chairs and 40 faculty members who have been named fellows of the Royal Society of Canada. To date, UVic reports that its research has resulted in 169 start-up companies and 1,145 invention disclosures. The University also reports that it has filed over 580 patents in its existence. In 2021, Maclean’s ranked UVic third among all Canadian universities in citation impact per faculty member.
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Results and Impact
UVic reports that 75% of its co-op graduates receive an offer of employment prior to graduation. In a 2019 survey, UVic reported an 87% employment rate with the average salary being $57,674.
In a 2020 report completed by Esmi, it found that UVic’s total impact in BC supported 40,595 jobs. It states that UVic contributed $3.3b to the BC economy and $1.8b in added income to the Greater Victoria economy. The report also states that for every $1 spent, students gained $1.40 in higher earnings over their working lifetime, taxpayers gained $2.70 in added tax revenue and public sector savings, and society gained $4.20 in added provincial revenue and social savings.
While Charity Intelligence highlights these key results, they may not be a complete representation of University of Victoria’s results.
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Finances
University of Victoria received $46.0m in donations in F2021. The charity also collected $173.7m (29% of revenues) in tuition and $323.4m (54% of revenues) in government funding. Administrative costs are 19% of revenues and fundraising costs are 12% of donations. UVic spends 31% on overhead. This means for every dollar donated, 69 cents go to its programs. This is within Ci’s reasonable range for overhead spending.
University of Victoria has net funding reserves of $859.1m of which $762.8m are donor-endowed. Excluding donor-endowed funds, reserves can cover program costs for just under three months.
This charity report is an update that has been sent to University of Victoria. Changes and edits may be forthcoming.
Updated on July 8, 2022 by Emma Saganowich.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 19.2% | 17.1% | 17.8% |
| Fundraising costs as % of donations | 11.7% | 14.6% | 13.9% |
| Total overhead spending | 30.9% | 31.7% | 31.7% |
| Program cost coverage (%) | 22.5% | (0.3%) | 21.2% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 46,042 | 36,601 | 36,341 |
| Government funding | 323,352 | 309,238 | 285,317 |
| Fees for service | 173,715 | 180,968 | 165,762 |
| Business activities (net) | 30,288 | 72,299 | 68,819 |
| Investment income | 22,825 | 57,117 | 56,950 |
| Other income | 5,732 | 7,408 | 7,612 |
| Total revenues | 601,954 | 663,632 | 620,801 |
| Program costs | 450,575 | 470,580 | 446,620 |
| Grants | 15,642 | 12,871 | 5,275 |
| Administrative costs | 110,996 | 103,736 | 100,452 |
| Fundraising costs | 5,398 | 5,332 | 5,050 |
| Total spending | 582,611 | 592,519 | 557,397 |
| Cash flow from operations | 19,343 | 71,113 | 63,404 |
| Capital spending | 87,575 | 66,418 | 68,988 |
| Funding reserves | 859,136 | 726,236 | 768,418 |
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 allocation. Ci backed these amounts out of program costs. Ci reported “net investment income & donations capitalized” as investment income, increasing total revenues by $2.6m in F2021, $7.9m in F2020, and $3.6m in F2019. Ci backed amortization out of program costs. Ci removed revenue recognized from deferred capital contributions, decreasing total revenues by ($27.4m) in F2021, ($26.0m) in F2020, and ($25.2m) in F2019.
Salary Information
$350k + |
2 |
$300k - $350k |
1 |
$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 F2021
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Comments & Contact
Comments added by the Charity:
Charity Contact
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No: (205) 721-7211