University of Toronto
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.
77%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 77 cents are available for programs.
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Programs
About University of Toronto:
Founded in 1827 as King’s College, University of Toronto (U of T) is a public research university. U of T was the first institution of higher learning in Upper Canada. Outside of its main St. George campus in downtown Toronto, U of T has two satellite campuses in Mississauga and Scarborough. U of T is currently affiliated with 12 teaching hospitals. Times Higher Education ranked U of T as the 21st best university in the world and the best in Canada. U of T’s main programs are education and research. U of T’s alumni include three Governor-Generals and four Prime Ministers of Canada. U of T reports having a $15.7 billion impact on the Canadian economy in F2018.
In the 2017-2018 school year, U of T was attended by 90,077 students, of which 19,187 were international students. In its 2018-2019 school year, U of T had 14,931 new full-time students enter one of its over 980 programs. Furthermore, U of T offers over 300 graduate programs which include over 60 professional programs, 76 combined programs that include a professional master’s component, 3 diploma programs, and 40 collaborative programs. Collectively, U of T’s graduate program makes up 21% of the student body. In F2018, U of T had 19,484 students graduate.
Through its research program, U of T awarded $1.1 billion to researchers. U of T funded a total of 1,800 programs and 230 commercialization projects. U of T gets 4,000 new funding applications annually. It reports that over the last three years, it has created 59 research and tech companies. In F2018, U of T had 40 external audits, 177 lab assessments for animals, 1,060 lab safety inspections, 220 worksite assessments, and 800 occupational health assessments.
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Results and Impact
U of T reports it had a 75.6% graduation rate in F2018 and that its graduates had a 93.9% employment rate.
For the period of 2013-2017, U of T ranked second in the world in terms of number of publications with 52,886. U of T ranked third in the world with 905,887 citations during the same period.
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Finances
University of Toronto is one of Canada’s Major 100 charities with donations of $118.5m along with tuition of $1.3bn and government funding of $1.1b. Administrative costs are 3% of total revenues (excluding investment income) and fundraising costs are 20% of total donations. For every dollar donated to the charity, 77 cents go to its programs. This is within Ci’s reasonable range. U of T has net funding reserves of $4.5b, including $2.6b in donor-endowed funds. Excluding donor-endowed funds, funding reserves can cover program costs for 8 months.
This charity report is an update that has been sent to University of Toronto. Changes and edits may be forthcoming.
Updated on August 9th, 2019 by Stefan Tetzlaff.
Financial Review
Fiscal year ending April
|
2018 | 2017 | 2016 |
|---|---|---|---|
| Administrative costs as % of revenues | 3.1% | 2.8% | 2.7% |
| Fundraising costs as % of donations | 19.9% | 23.4% | 20.8% |
| Total overhead spending | 23.0% | 26.1% | 23.5% |
| Program cost coverage (%) | 70.6% | 66.4% | 50.1% |
Summary Financial StatementsAll figures in $000s |
2018 | 2017 | 2016 |
|---|---|---|---|
| Donations | 167,000 | 137,000 | 143,000 |
| Government funding | 1,259,000 | 1,227,000 | 1,149,000 |
| Fees for service | 1,583,000 | 1,431,000 | 1,292,000 |
| Business activities (net) | 239,000 | 227,000 | 212,000 |
| Investment income | 180,000 | 220,000 | 109,000 |
| Total revenues | 3,428,000 | 3,242,000 | 2,905,000 |
| Program costs | 2,399,477 | 2,320,989 | 2,242,411 |
| Administrative costs | 99,245 | 82,954 | 75,834 |
| Fundraising costs | 33,278 | 32,057 | 29,755 |
| Other costs | 91,000 | 92,000 | 102,000 |
| Total spending | 2,623,000 | 2,528,000 | 2,450,000 |
| Cash flow from operations | 805,000 | 714,000 | 455,000 |
| Capital spending | 576,000 | 284,000 | 228,000 |
| Funding reserves | 4,110,000 | 3,842,000 | 3,168,000 |
Note: Ci included donations to the charity’s endowment fund in revenues, affecting total revenue by $39m in F2018, $36m in F2017, and $29m in F2016. U of T 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 reports sales and services revenues net of expenses. The charity's audited financials report in millions, the T3010 filing used for admin and fundraising costs report in dollars, and Ci is reporting in thousands.
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 F2018
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Comments & Contact
Comments added by the Charity:
Charity Contact
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