McGill University

845 Sherbrooke Street West
Montreal, QC H3A 0G4
Principal: Suzanne Fortier
Provost: Chris Manfredi

Charitable Reg. #: 11912 8981 RR0001
Sector: Education - University
Operating Charity

Charity Rating

[Charity Rating: 4/4]

Donor Accountability

Grade: B+

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

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #5,701

Avg. Compensation $118,556

Top 10 Staff Salary Range

$350k + 4
$300k - $350k 2
$250k - $300k 2
$200k - $250k 2
$160k - $200k 0
$120k - $160k 0
$80k - $120k 0
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About McGill University:

McGill University (MU) was founded in 1821 after James McGill, a wealthy fur trader and merchant, donated a 46-acre estate to establish a college bearing his name. McGill College began holding classes in 1829 in the merchant’s former country house. McGill University has since developed into a public research university with 2 campuses, 11 faculties and 10 schools with over 300 programs of study. The university has five strategic priorities: student life and learning, research and innovation, community engagement, work culture and transforming the virtual and physical campus.

In F2015, McGill University spent $704.3m on its programs, including $385.3m on academic salaries and $140.2m on student aid and student employment. MU allocated $45.8m to its partner institutions. MU has 39,988 students (25% are international students), 1,667 faculty members and 4 affiliated teaching hospitals. It granted 9,134 degrees in F2015. The university is home to 177 endowed teaching and research chairs, 158 Canada Research Chairs and 166 active Members of the Royal Society of Canada. McGill University produced 139 Rhodes Scholars which is more than any other Canadian university has. MU consistently ranks as the top university in Canada in the QS World University Rankings (as of 2015). It has 250,000 alumni living across the world.

McGill University’s annual program costs average $18k per student.  

Financial Review:

McGill University is one of Canada’s Major 100 charities with donations of $117.6m along with tuition of $258.5m and government funding of $678.8m. MU received $7.1m in grants from the US government. Administrative costs are 20% of total revenues and reported fundraising costs are 12% of total donations, as taken from the charity’s T3010 filings. Total overhead costs come to 32%, falling within Ci’s reasonable range. MU has total funding reserves of $2.2bn and total debt of $861m. Net funding reserves of $1.4bn can cover program costs for 1.8 years. MU holds an endowment fund of $1.4bn. Excluding donor-endowed funds, MU cannot cover its program costs at all.

MU’s endowment fund per student comes to $35k. MU’s high operating cash flow of $219k was used to buy capital goods worth $143k and build up the funding reserves.

This charity report is an update that is being reviewed by the charity. Changes and edits may be forthcoming.

Updated on August 19th, 2016 by Mirza Ali Shakir.

Financial Ratios

Fiscal year ending April
Administrative costs as % of revenues 19.8%20.6%21.0%
Fundraising costs as % of donations 11.9%13.3%14.1%
Program cost coverage (%) 183.3%72.8%53.5%

Summary Financial Statements

All figures in $000s
Donations 117,553110,732113,609
Government funding 678,814684,672665,336
Fees for service 258,489245,241228,623
Business activities (net) 121,667110,982109,191
Investment income 69,43953,71862,244
Total revenues 1,245,9621,205,3451,179,003
Program costs 704,278703,147698,283
Grants 45,77936,65539,978
Administrative costs 232,571237,347233,965
Fundraising costs 13,93914,76716,028
Other costs 29,91630,17431,243
Cash flow from operations 219,479183,255159,506
Funding reserves 1,374,669538,294395,284
Note: Ci included donations for endowments in its revenues calculation. MU does not report administrative and fundraising costs separately on its audited financial statements. Ci took administrative and fundraising costs from the charity’s T3010 filings. Ci reports sales of goods and services net of expenses, reducing both revenues and expenses by $17k in F2015, $18k in F2014 and $19k in F2013.  

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