MaRS Discovery District

101 college street
Toronto, ON M5G 1L7
CEO: Yung Wu
Board Chair: Annette Verschuren

Charitable Reg. #:87668 2717 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.

B-

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.

89%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 89 cents are available for programs.



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Programs

About MaRS Discovery District:

Founded in 2005, MaRS Discovery District supports Canadian science and start-ups – helping them grow, create jobs, and solve society’s greatest problems. MaRS focuses on four sectors – cleantech (tackling climate change and increasing sustainability), health (improving the healthcare system), fintech (modernizing financial transactions), and enterprise software (optimizing work and employee engagement). MaRS currently occupies 1.5 million square feet in downtown Toronto and houses more than 120 tenants. MaRS’ goal is to drive discoveries in Canada.

MaRS groups its ventures into three groupings: start, grow, and scale. In the “start” group, MaRS helps ventures begin to generate revenue, attract investors, and build a strong team of employees. In the “grow” stage, Mars helps ventures increase their revenues, build their customer base, attract top talent, and raise money. Lastly, in the “scale” stage, MaRS helps ventures achieve growth targets, expand into international markets, and get clinical studies and trials regulatory approval.

MaRS works to expand the economic, social, ecosystem, and investment impact of it ventures. In total, MaRS-supported companies employed 12,800 employees in 2017. MaRS reports that its programs have positively impacted 17 million people. Since 2008, MaRS-supported ventures have had cumulative revenues of $3.2 billion and have cumulatively raised $4.8 billion from investors.

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Finances

MaRS Discovery District is one of Canada’s Major 100 charities, with donations and special events revenue of $22m in F2018. Administrative costs are 11% of revenues. For every dollar donated to the charity, 89 cents go to the cause. This is within Ci’s reasonable range for overhead spending. MaRS has funding reserves of $66.2m. Reserves can cover program costs for just over 2 years.

The charity’s audited financials report no fundraising costs. However, its T3010 CRA filings report fundraising costs of $761k in F2018, $718k in 2017, and $516k 2016. These amounts are not recognized in Ci’s analysis as we could not reconcile the audited financials with the CRA filings. 

This charity report is an update that has been sent to MaRS Discovery District. Comments and edits may be forthcoming.

Updated on July 26, 2019 by Stefan Tetzlaff.

Financial Review


Financial Ratios

Fiscal year ending March
201820172016
Administrative costs as % of revenues 10.8%11.2%10.5%
Program cost coverage (%) 229.8%191.5%113.7%

Summary Financial Statements

All figures in $000s
201820172016
Donations 20,05214,21913,683
Government funding 18,38418,90017,535
Fees for service 1,4021,6171,451
Business activities (net) 3,51311,39610,712
Special events 1,9041,9871,665
Total revenues 45,25548,11945,046
Program costs 28,79630,29628,883
Donor-designated donations 14,1238,4568,526
Administrative costs 4,8935,3694,734
Cash flow from operations (2,557)3,5422,315
Funding reserves 66,17958,02932,845

Note: Ci removed amortization of deferred capital contributions from revenue affecting revenue by $2k in F2017, and $3k in F2016. 

Salary Information

Full-time staff: 156

Avg. Compensation $127,135

Top 10 staff salary range

$350k +
1
$300k - $350k
1
$250k - $300k
0
$200k - $250k
5
$160k - $200k
3
$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.marsdd.com
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