University of Calgary
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.
82%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 82 cents are available for programs.
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OVERVIEW
About University of Calgary:
University of Calgary is a top-rated 5-star charity. It has an A results reporting score, which is above average, and its overhead costs are within Ci’s reasonable range. Excluding donor-endowed funds, University of Calgary has reserve funds to cover its annual program costs for 11 months.
University of Calgary (UCalgary) gained autonomy from University of Alberta in 1966. It focuses on powering positive change through innovative teaching and learning. In the QS World University Rankings 2024, University of Calgary ranked 8th in Canada. The Association of University Technology Managers ranked UCalgary Canada’s number one research startup creator for the third consecutive year in 2022. The University has two programs: Academics and Research.
A Charity Intelligence 2024 Top 100 Rated Charity.
In the fiscal year ended March 2023 (F2023), University of Calgary spent 64% of program spending on Academics. UCalgary has five campuses and 14 faculties. It offers over 250 undergraduate programs and 80 graduate programs. In F2023, it awarded $127.2m in scholarships and bursaries. This is $8.1m more than it awarded in F2022. In F2023, UCalgary reported that it had over 29,000 undergraduate students and over 7,900 graduate students. By 2030, UCalgary aims to increase total enrolment by 10,000.
In F2023, UCalgary spent 36% of program spending on Research. UCalgary provided $377.6k in sponsored research funding per tenure and tenure-track faculty member. In F2023, UCalgary had 7,613 publications and 27,727 citations. Over the past three years, it had 380 new inventions and innovations. It also submitted 54 patents over the past three years. In F2023, UCalgary had over 1,850 academic staff engaged in research scholarship or teaching.
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Results and Impact
In F2023, University of Calgary reported a 95% undergraduate retention rate and a 96.3% graduate employment rate. It reported that 81.6% of employed graduates were employed in fields related to their discipline of study. In F2023, UCalgary awarded 5,500 undergraduate degrees and 3,024 graduate degrees.
In 2021, Hanover Research conducted an independent economic impact analysis on the University of Calgary. Their report estimated that UCalgary had an annual economic impact of $16.5b. Hanover Research also calculated an estimated $4.8b in additional income earned by alumni in Alberta and an estimated $8.2b in economic impact of research.
While Ci highlights these key results, they may not be a complete representation of UCalgary’s results and impact.
University of Calgary is not yet rated on impact (n/r).
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Finances
In F2023, University of Calgary received $220.3m in donations. It received $805.8m (50% of total revenue) in government funding and $349.7m (22% of total revenue) in student tuition and fees. Administrative costs are 8% of total revenue (excluding investment income) and fundraising costs are 10% of donations. Overhead spending is 18%, which is within Ci’s reasonable range. For every dollar donated, 82 cents are available for the cause. In F2023, UCalgary spent $1.2b on its programs (74% of total revenue).
In F2023, UCalgary had a surplus of $264.2m and spent $139.9m on capital expenditures.
At the end of F2023, UCalgary had $2.2b in reserve funds. $1.2b of these funds are donor endowed. Excluding donor-endowed funds, UCalgary has reserve funds to cover 95% or 11 months of its annual program costs.
This charity report is an update that was sent for review to University of Calgary. Changes and edits may be forthcoming.
Updated on June 24 by Thea Clark.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 8.3% | 8.9% | 8.7% |
| Fundraising costs as % of donations | 9.5% | 11.5% | 12.0% |
| Total overhead spending | 17.8% | 20.4% | 20.6% |
| Program cost coverage (%) | 94.8% | 95.8% | 97.6% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 220,294 | 184,228 | 163,209 |
| Government funding | 805,819 | 809,295 | 822,233 |
| Fees for service | 349,737 | 300,964 | 269,638 |
| Business activities (net) | 110,826 | 96,829 | 68,840 |
| Investment income | 89,873 | 100,385 | 81,424 |
| Other income | 24,088 | 60,910 | 2,291 |
| Total revenues | 1,600,637 | 1,552,611 | 1,407,635 |
| Program costs | 1,190,000 | 1,124,730 | 1,113,267 |
| Administrative costs | 125,514 | 129,868 | 114,964 |
| Fundraising costs | 20,946 | 21,120 | 19,515 |
| Total spending | 1,336,461 | 1,275,719 | 1,247,745 |
| Cash flow from operations | 264,176 | 276,892 | 159,890 |
| Capital spending | 139,862 | 189,650 | 158,104 |
| Funding reserves | 2,249,280 | 2,184,182 | 2,151,995 |
Note: ADMINISTRATIVE AND FUNDRAISING COSTS: The charity does not report administrative and fundraising costs in its audited financial statements. Ci used the charity’s T3010 filing with the CRA to determine these costs. DEFERRED REVENUE: The charity uses deferred accounting. To show donors this information on a consistent basis, Ci adjusted for deferred revenues. This affected revenues by $31.7m in F2023, $59.9m in F2022, and $6.8m in F2021. SOLD SERVICES: Ci reported sales of services and products on a net basis. This affected revenues and expenses by ($14.9m) in F2023, ($13.0m) in F2022, and ($7.8m) in F2021. ENDOWMENT: Ci included endowment contributions in revenue, affecting revenues by $37.4m in F2023, $9.0m in F2022, and $15.4m in F2021. Ci included endowment investment income in revenue, affecting revenues by $9.2m in F2023, $27.6m in F2022, and $nil in F2021. AMORTIZATION: Ci removed amortization from program, administrative, and fundraising costs on a pro-rata basis.
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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