McGill University
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.
69%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 69 cents are available for programs.
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OVERVIEW
About McGill University:
McGill University is a top-rated five-star charity and one of Canada's largest charities. As with most large universities, it has a high results reporting grade and is financially transparent. The university's gross funding reserves can cover program costs for around 6 months.
Founded in 1821, McGill University (McGill) is a public university in Montreal. McGill has three campuses: a downtown Montreal campus, a Macdonald campus, and the Gault Nature Reserve for wildlife research. McGill has more than 80 departments. It offers over 300 undergraduate and 400 graduate programs of study. McGill’s main programs are education and research, for which it does not provide a spending breakdown.
In Fall 2023, McGill enrolled 39,380 students, comprising 24,332 full-time undergraduates, 8,735 full-time graduate students, 2,864 part-time undergraduates, 1,412 part-time graduate students, 576 postdoctoral researchers, and 1,461 residents and fellows. In 2023, McGill awarded 5,722 part-time undergraduate degrees and 665 certificates and diplomas. It also awarded 8,735 full-time graduate degrees.
In Fall 2024, McGill had 1,803 faculty members, and provided $699 million in research funding. It put out 60k published papers in 2023.
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Results and Impact
McGill university has been ranked Canada’s best medical doctoral university by Macleans magazine for 19 years running.
In 2023, 41% of McGill’s publications were in the top 10% of journals. This is the highest of all the U6 universities (McMaster, University of Montreal, University of Alberta, UBC, and UofT).
While Ci highlights these key results, they may not be a complete representation of McGill University’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
McGill University is a Major 100 charity, one of Canada’s largest charities in terms of donations. It received $172.3m in cash donations in F2023, and an additional $12.0m in international donations. McGill also received $974.0m in government funding, accounting for 53% of total revenues. It also received $413.9m in tuition, accounting for 22% of total revenues.
Administrative costs are 19% of revenues and fundraising costs are 12% of donations for a total overhead spending of 31%. For every dollar donated, 69 cents are available to go to the cause.
McGill has $775.1m in total funding reserves. Its funding reserves include $1.8 billion in donor-endowed funds, resulting in a negative program cost coverage ratio. McGill’s gross funding reserves, excluding its $1.6m in debts and donor-endowed funds, can cover 50% or around six months of annual program costs.
Charity Intelligence has sent this update to McGill University for review. Changes and edits may be forthcoming.
Updated on August 26, 2024 by Ben Dobozy
Financial Review
Fiscal year ending April
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 19.0% | 17.5% | 16.9% |
| Fundraising costs as % of donations | 11.7% | 9.7% | 9.0% |
| Total overhead spending | 30.7% | 27.2% | 25.8% |
| Program cost coverage (%) | (104.7%) | (94.4%) | (102.1%) |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 172,253 | 178,961 | 179,120 |
| International donations | 11,978 | 11,853 | 13,122 |
| Goods in kind | 400 | 61,400 | 2,200 |
| Government funding | 974,002 | 943,714 | 939,575 |
| Fees for service | 413,886 | 415,745 | 400,183 |
| Business activities (net) | 127,857 | 112,269 | 74,684 |
| Investment income | 151,043 | (24,463) | 349,697 |
| Total revenues | 1,851,419 | 1,699,479 | 1,958,581 |
| Program costs | 1,030,043 | 951,909 | 884,643 |
| Grants | 61,810 | 50,690 | 55,769 |
| Administrative costs | 323,163 | 302,279 | 271,316 |
| Fundraising costs | 20,182 | 17,318 | 16,054 |
| Other costs | 42,733 | 41,640 | 40,652 |
| Total spending | 1,477,931 | 1,363,836 | 1,268,434 |
| Cash flow from operations | 373,488 | 335,643 | 690,147 |
| Capital spending | 303,081 | 301,649 | 228,481 |
| Funding reserves | 775,078 | 875,379 | 941,055 |
Note: Ci included endowment contributions in donations and investment gains (losses) from endowments in investment income. This affected revenues by $84m in F2023, ($10.0m) in F2022, and $295.1m in F2021. Ci removed gifts in kind included in donations to report them separately. Ci reported sales of goods and services net of costs in business activities, affecting revenues and expenses by ($16.6m) in F2023, ($14.4m) in F2022, and ($7.9m) in F2021. Ci adjusted for deferred government and nongovernment donations and capital contributions. This affected revenues by $124.1m in F2023, $144.8m in F2022, and $205.4m in F2021. Ci gathered fundraising costs from the charity’s T3010 filings with the CRA and removed the amounts from program costs. Ci removed amortization from program, administrative and fundraising costs on a pro rata basis.
Salary Information
$350k + |
6 |
$300k - $350k |
4 |
$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:
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