MaRS Discovery District
Toronto, ON M5G 1L7
CEO: Dr. Ilse Treurnicht
Board Chair: Gordon Nixon
Charitable Reg. #: 8766 82717 RR0001
Social Results Reporting
Grade: NRCharity not yet rated on the public reporting of the work it does and the results it achieves.
Program Cost Coverage
Full-time staff #112
Avg. Compensation $114,823
Top 10 Staff Salary Range
|$300k - $350k||1|
|$250k - $300k||0|
|$200k - $250k||2|
|$160k - $200k||6|
|$120k - $160k||0|
|$80k - $120k||0|
|$40k - $80k||0|
About MaRS Discovery District:
Founded in 2005, MaRS Discovery District (MaRS) supports entrepreneurs and their business innovations in order to drive economic and social prosperity. MaRS provides resources — people, programs, physical facilities, funding and networks — to help promising new companies grow in Canada and scale in international markets. MaRS focuses on 3 sectors: information & communications technology, health, and cleantech. In the information & communications technology sector, MaRS supported 600 young ventures, raised $175m, and created 2,557 jobs in F2014. In the health sector, MaRS supported 280 young ventures, raised $193m, and created 1,064 jobs in F2014. In the cleantech sector, MaRS supported 10 initiatives, raised $174m, and created 1,456 jobs in F2014.
In 2014, the charity opened MaRS Centre, a 20-storey office tower with 1.5 million square feet of space. MaRS Center offers office space and event facilities to start-ups. In F2015, $11m of revenue came from real estate rentals and $6m was spent on property operations.
In F2015, MaRS spent 15% of revenues on administrative costs and 7% of donations on fundraising costs. Total overhead costs of 23% fall within Ci's reasonable range. The charity has funding reserves of $14m, which can cover annual programs and grants for 6 months.
Analysis updated by Ruoxi Gao in 2016, currently under review by MaRS.
Financial RatiosFiscal year ending March
|Administrative costs as % of revenues||15.4%||11.9%||11.9%|
|Fundraising costs as % of donations||7.4%||2.2%||1.3%|
|Program cost coverage (%)||47.0%||81.1%||64.7%|
Summary Financial StatementsAll figures in $000s
|Fees for service||3,188||2,967||2,865|
|Business activities (net)||4,651||4,711||4,656|
|Cash flow from operations||(4,090)||4,928||4,889|