Memorial University of Newfoundland

P.O. Box 4200
St. John’s, NL A1C 5S7
President: Vianne Timmons
Board Chair: Iris Petten

Charitable Reg. #:10769 0273 RR0001


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

[Charity Rating: 5/5]



Audited financial statements for current and previous years available on the charity’s website.



Grade based on the charity's public reporting of the work it does and the results it achieves.



The demonstrated impact per dollar Ci calculates from available program information.


Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.



For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 65 cents are available for programs.

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About Memorial University of Newfoundland:

Memorial University of Newfoundland is a top-rated five-star charity with low funding reserves that can cover less than a year of program costs. As with most large universities, it has a high results reporting grade and is financially transparent.

Founded in 1925, Memorial University of Newfoundland (MUN) is a public university based in St. John’s. MUN is the only university in Newfoundland and Labrador. The university has five campuses across Newfoundland and Labrador: St. John’s, Signal Hill, Labrador, Grenfel, and Marine Institute. It also has one campus in Harlow, United Kingdom. MUN offers students 260 degree programs across its 12 faculties and schools. Its main charitable programs are Academics, Research, and Renovations. 

A Charity Intelligence 2023 Top 100 Rated Charity

In Fall of 2020, Memorial University of Newfoundland had 19,270 students enrolled, including 14,382 undergraduate students, 4,037 graduate students, 596 Marine Institute diploma students, and 255 postgraduate medical students. The charity reports that it had 3,495 international students, including 1,670 from Asia, 801 from Sub-Saharan Africa, 478 from the Middle East and North Africa, and 546 from other regions. 

The university reports that it spent $185.2m on research and development in F2021. It did not disclose the number of research grants it gave out during the year. In Fall of 2021, MUN opened its Core Science Facility and finished its energy performance project. The energy performance project involved renovating campus facilities to decrease greenhouse gas emissions.

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Results and Impact

In F2021, Memorial University of Newfoundland reports that it gave out 3,887 degrees, diplomas, and certificates to graduates. MUN ranked 9th on Maclean’s top comprehensive Canadian schools list for 2021. The university reports that it adds approximately $627m to Newfoundland and Labrador’s economy each year and supports 9,922 jobs throughout the province. These estimates are based on an economic impact assessment by KPMG.

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

This charity is not yet rated on impact (n/r),

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In F2021, Memorial University of Newfoundland received $17.4m in Canadian donations, representing a 71% increase from F2020. It received $400.2m of government funding (62% of total revenue) during the year. The university earned $30.7m in investment income (5% of total revenue), representing a 14% annual return. Its average annual investment return since F2014 is 5%. The average annual investment return of the S&P 500 from 2014 to 2021 is around 13%. MUN’s investment portfolio is 12% composed of real estate.

Administrative costs are 22% of total revenue excluding investment income. Fundraising costs are 13% of donations. This results in total overhead spending of 35%. For every dollar donated to the charity, 65 cents go to the cause. This is just within Ci’s reasonable range for overhead spending. 

Memorial University of Newfoundland has $165.5m in net funding reserves ($396.5m in liquid assets less $231.0m in interest-bearing debts). Its liquid assets also include $102.1m in donor-endowed funds. MUN’s net funding reserves, excluding donor-endowed funds, can cover annual program costs for around two months.

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

Updated on July 15th, 2022 by Arjun Kapur.

Financial Review

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 21.9%17.3%16.4%
Fundraising costs as % of donations 12.8%23.2%10.2%
Total overhead spending 34.8%40.5%26.6%
Program cost coverage (%) 15.4%1.6%15.8%

Summary Financial Statements

All figures in $000s
Donations 17,36510,13017,280
Government funding 400,158422,772420,018
Fees for service 85,34399,24287,853
Investment income 30,6519,22914,565
Other income 112,641131,241149,313
Total revenues 646,158672,614689,029
Program costs - International 692884558
Program costs - Canada 414,977483,515493,378
Administrative costs 135,057114,942110,819
Fundraising costs 2,2272,3481,754
Other costs 629375382
Total spending 553,582602,064606,891
Cash flow from operations 92,57670,55082,138
Capital spending 48,25121,81818,884
Funding reserves 165,476108,233160,774

Note: MUN does not report donations, administrative costs, or fundraising costs on its audited financial statements. This data was found on the charity's T3010A filing with the CRA. Ci excluded amortization of deferred capital contributions and included deferred capital contributions in revenue, affecting total revenues by $19.7m in F2021, $26.1m in F2020, and $41.3m in F2019. Ci adjusted for deferred contributions, affecting revenue by $18.2m in F2021, ($4.9m) in F2020, and $1.2m in F2019. Deferred contributions and deferred capital contributions were included in other revenue because MUN's audited financial statements do not differentiate government deferred contributions from private deferred contributions. Unrealized investment gain is included in investment income. This affects revenues by $20.9m in F2021, ($2.5m) in F2020, and $3.3m in F2019. Endowment contributions are included in donations, affecting revenue by $1.8m in F2021, $2.5m in F2020, and $2.9m in F2019. External cost recovery was removed from expenses and included in other revenue to report on a cash basis. This affects revenues and expenses by $17.4m in F2021, $18.6m in F2020, and $17.4m in F2019.

Salary Information

Full-time staff: 2,515

Avg. compensation: $139,402

Top 10 staff salary range:

$350k +
$300k - $350k
$250k - $300k
$200k - $250k
$160k - $200k
$120k - $160k
$80k - $120k
$40k - $80k
< $40k

Information from most recent CRA Charities Directorate filings for F2021

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Comments & Contact

Comments added by the Charity:

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Charity Contact

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Charitable Registration Number: 80340 7956 RR0001