York University
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.
77%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 77 cents are available for programs.
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OVERVIEW
About York University:
York University is a 5-star rated charity. Like most universities, it is financially transparent and has a high results reporting grade. Its overhead costs are within Ci’s reasonable range. With its current reserves the university can cover five months of annual program costs.
Founded in 1959, York University (York U) is the second-largest university in Ontario and the third largest in Canada. Its vision is to offer a high quality, research-intensive learning environment for a diversity of students. In Ontario, York U runs a Keele Campus and a Glendon Campus. Outside of Canada, York U operates a Hyderabad Campus for MBA programs in India and a Las Nubes EcoCampus for environmental studies in Costa Rica. The university has been in the process of adding a new campus. The new Markham Campus is set to welcome students in Fall 2024.
A Charity Intelligence 2024 Top 100 Rated Charity.
York U’s main charitable programs are education and research, for which it does not provide a spending breakdown.
Across 11 faculties, York U offers over 200 undergraduate and graduate degree programs. In the 2023-2024 academic year, York University had 47,178 undergraduate students and 6,279 graduate students. This included a total of 15,217 international students. In 2023 the university awarded a total of 12,707 degrees, including 10,119 Bachelors, 2,352 Masters, and 236 PhDs.
York University funds innovative research projects across its faculties and departments. In 2022, York U reported that its students and faculty produced 3,014 research publications. Its researchers had 543 successful grant applications. York U also holds 35 Canada Research Chair positions.
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Results and Impact
In April 2020, York University completed an impact assessment with Higher Education Strategy Associates (HESA), an independent social audit firm. Its impact evaluation found that York U directly contributed $2.3 billion in value and 10,569 jobs to Ontario’s economy in 2018. When including the indirect effects of spending, HESA estimated that York U added $4.4 billion in value and 13,480 jobs.
York U measures undergraduate employment rates both six months and two years after graduation. Among all graduates in 2020, 82% found jobs within six months and 93% found jobs within two years.
While Ci highlights these key results, they may not be a complete representation of York University’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
York University is a Major 100 charity, one of Canada’s largest charities in terms of donations. It received donations of $35.7m in F2023. During the year, it also received $763.1m in tuition and service fees (56% of revenues) and $416.5m in government grants (30% of revenues).
Administrative costs are 5% of revenues (less investment income) and fundraising costs were 18% of donations. This results in total overhead spending of 23%. For every dollar donated to the charity, 77 cents are available for programs. This is within Ci’s reasonable range for overhead spending.
In F2023, York University spent $1.1 billion on its programs, which is 83% of total revenues. The university had a surplus of $135.2m (10% of revenues) and capital expenditures of $139.0m, up $68.4m from F2022.
York U has $1.0 billion in net reserve funds ($1.6 billion in cash and investments less $617.7m in interest-bearing debts). In these reserve funds $548.7m are donor endowed. Excluding donor-endowed funds, the charity can cover around five months of annual program costs with its existing reserves.
Charity Intelligence has sent this update to York University for review. Changes and edits may be forthcoming.
Updated on June 4, 2024 by Alessandra Castino.
Financial Review
Fiscal year ending April
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 4.9% | 4.6% | 4.0% |
| Fundraising costs as % of donations | 17.8% | 11.8% | 18.5% |
| Total overhead spending | 22.6% | 16.3% | 22.5% |
| Program cost coverage (%) | 43.2% | 52.1% | 55.4% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 35,729 | 44,608 | 28,685 |
| Government funding | 416,494 | 396,355 | 407,020 |
| Fees for service | 763,135 | 760,212 | 769,090 |
| Business activities (net) | 59,858 | 35,999 | 19,426 |
| Investment income | 97,001 | (5,401) | 144,534 |
| Total revenues | 1,372,217 | 1,231,773 | 1,368,755 |
| Program costs | 1,140,456 | 1,077,663 | 1,031,020 |
| Administrative costs | 61,946 | 56,685 | 49,264 |
| Fundraising costs | 6,345 | 5,240 | 5,309 |
| Other costs | 28,240 | 29,511 | 30,269 |
| Total spending | 1,236,987 | 1,169,099 | 1,115,862 |
| Cash flow from operations | 135,230 | 62,674 | 252,893 |
| Capital spending | 138,956 | 70,525 | 70,525 |
| Funding reserves | 1,029,109 | 1,064,558 | 1,115,125 |
Note: DEFERRED CONTRIBUTIONS: Ci adjusted for deferred contributions and received capital contributions, affecting total revenues by $33.9m in F2023, $31.1m in F2022, and $35.7m in F2021. Ci removed amortization of deferred capital contributions, decreasing total revenues by $19.5m in F2023, $18.5m in F2022, and $18.3m in F2021. ENDOWMENT: Ci included endowment contribution in donations, affecting revenues by $7.3m in F2023, $3.9m in F2022, and $3.6m in F2021. Ci included investment income from endowments in investment income, affecting revenue by $40.9m in F2023, ($32.3m) in F2022, and $108.3m in F2021. SALES AND SERVICES: Ci reported sales and services revenue net of costs in business activities. This affected revenues and expenses by ($7.4m) in F2023, ($7.2m) in F2022, and ($7.4m) in F2021. ACTIVITY-BASED COSTING: Ci gathered fundraising costs from the charity’s T3010 filings with the CRA and removed the amounts from program costs.
Salary Information
$350k + |
10 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
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