University of Prince Edward Island

550 University Avenue
Charlottetown, PE C1A 4P3
Chancellor: Hon. Catherine Callbeck
Board Chair: Pat Sinnott

Charitable Reg. #:10816 2108 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

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✔+

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.

62%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 62 cents are available for programs.



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Programs

About University of Prince Edward Island:

Founded in 1969, the University of Prince Edward Island (UPEI) is the result of the amalgamation of Prince of Wales College and St. Dunstan’s University. Located in Charlottetown, the capital city of Prince Edward Island, UPEI offers several programs in eight faculties: Arts, Business, Education, Nursing, Science, Sustainable Design Engineering, Graduate Studies, and Atlantic Veterinary College.

University of Prince Edward Island had 4,286 full-time undergraduate and graduate students, and 382 part-time undergraduate and graduate students in 2018. UPEI gave 3,602 scholarships and awards to 2,149 recipients in F2018. The university reported having 246 permanent faculty and 28 term faculty in 2018. This results in a student to faculty ratio of 16:1 in 2018.

University of Prince Edward Island is home to one Canada Excellence Research Chair, two Canada Research Chairs, two Endowed Chairs, and one UNESCO Chair. In 2018, UPEI operated 8 research institutes and centres.

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Results and Impact

In 2015, Jupia Consultants Inc. conducted a study on UPEI’s economic impact. Their research found that large and small businesses across PEI benefitted from having a large university located in Charlottetown. In F2014, the university did business with over 930 local suppliers which generated $24.8 million worth of revenue from the university. This study also projected a $12.5 million boost to provincial GDP and $2.8 million worth of annual tax revenue from the university by 2018.

While Ci highlights these key results, they may not be a complete representation of University of Prince Edward Island’s results and impact.

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Finances

University of Prince Edward Island received total donations of $3.9m in F2018. Administrative costs are 7% of revenues (excluding investment income) and fundraising costs are 31% of donations. For every dollar donated, 62 cents go to the cause. This is outside Ci’s reasonable range for overhead spending.

Net funding reserves of $84.3m (of which $29.2m are donor-endowed) can cover 9 months of annual program costs. Excluding donor-endowed funds, UPEI can cover 6 months of annual program costs.

­­This charity report is an update that has been sent to University of Prince Edward Island for review. Changes and edits may be forthcoming.

Updated on July 25, 2019 by Lauren Chin.

Financial Review


Financial Ratios

Fiscal year ending April
201820172016
Administrative costs as % of revenues 6.9%6.8%7.2%
Fundraising costs as % of donations 31.0%44.5%49.9%
Total overhead spending 38.0%51.3%57.1%
Program cost coverage (%) 76.7%60.0%56.6%

Summary Financial Statements

All figures in $000s
201820172016
Donations 3,8752,7602,616
Government funding 73,48475,34872,089
Fees for service 39,58836,95434,221
Business activities (net) 20,43018,68418,852
Investment income 1,6403,9021,757
Total revenues 139,018137,648129,535
Program costs 109,923109,269103,619
Administrative costs 9,5259,0289,168
Fundraising costs 1,2021,2291,306
Other costs 5,0295,0974,952
Total spending 125,678124,624119,045
Cash flow from operations 13,33913,02410,489
Capital spending 9,68516,74020,738
Funding reserves 84,32465,54458,614

Note: Ci included donations to the charity’s endowment fund. UPEI does not report administrative and fundraising costs on its audited financial statements. Ci took administrative and fundraising costs from the charity’s T3010 filings. Ci removed amortization of deferred revenue from the income statement.

Salary Information

Full-time staff: 756

Avg. Compensation $100,307

Top 10 staff salary range

$350k +
0
$300k - $350k
1
$250k - $300k
2
$200k - $250k
2
$160k - $200k
5
$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

Website: www.upei.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 1-800-606-UPEI

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