Toronto Metropolitan University

350 Victoria Street
Toronto, ON M5B 2K3
President: Mohamed Lachemi
Board Chair: Tony Staffieri

Charitable Reg. #:11913 0383 RR0001


Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 4/5]



Audited financial statements for current and previous years available on the charity’s website.



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



The demonstrated impact per dollar Ci calculates from available program information.


Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.



For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 68 cents are available for programs.

My anchor


About Toronto Metropolitan University:

Toronto Metropolitan University is a four-star charity and one of Canada's largest charities. As with most universities, it has a high results reporting grade and is financially transparent. The university's overhead costs are within Ci's reasonable range, but it has high fundraising costs resulting in a four-star rating.

Founded in 1948, Toronto Metropolitan University (TMU), formerly named Ryerson University, is a public university in Ontario. Today, over 45,000 students attend TMU. The university has 62 different bachelor’s programs and 55 PhD and master’s programs. It also has 133 partner universities in 37 different countries. TMU’s main charitable programs are academics and research. In F2021, it spent $805.5m on its programs.

In fall of 2021, Toronto Metropolitan University had 46,812 students enrolled. This includes 39,871 undergraduate students, 3,006 master’s students, 646 PhD students, and 3,289 students in continuing education courses. Undergraduate students were enrolled across six faculties: Ted Rogers School of Management (11,897), Community Services (7,123), Communication and Design (6,060), Engineering and Architecture (5,685), Arts (5,256), and Science (3,850). The university reports that 3,404 of its undergraduate students are from outside of Canada, and 1,216 students are from a province other than Ontario. TMU reports that it has 900 affiliated and adjunct graduate faculty members, and 20 Canada Research Chairs. In F2021 its research program had 1,675 academic publications and supported five patent applications.

My anchor

Results and Impact

Toronto Metropolitan University reports that the graduation rate for its fall 2013 entering class was 75.3%. It also reports that 91.2% of its 2018 graduating class had found a job within two years of graduation. In F2021, other researchers cited TMU researchers 33,707 times. The charity reports that its research department created 277 full-time jobs during the year.

While Ci highlights these key results, they may not be a complete representation of Toronto Metropolitan University’s results and impact.

This charity is not yet rated on impact (n/r).


My anchor


Toronto Metropolitan University is a Major 100 charity, one of Canada’s largest charities in terms of donations. It received $25.1m in Canadian donations in F2021. The university also received $408.1m in student fees (42% of total revenue) and $451.5m in government funding (47% of total revenue) during the year. TMU earned $42.7m in investment income, representing an 11% annual return. Its average annual return from F2018 to F2021 is 6%. From 2018 to 2021 the average annual investment return of the S&P 500 is around 17%.

Administrative costs are 4% of total revenue excluding investment income. Fundraising costs are 29% of donations. This results in total overhead spending of 32%. For every dollar donated to the charity, 68 cents go to the cause. This is within Ci’s reasonable range for overhead spending.

TMU has $383.2m in net funding reserves ($684.7m in liquid assets less $301.5 in interest-bearing debts). Its liquid assets also include $137.2m in donor-endowed funds. TMU’s net funding reserves, excluding donor-endowed funds, can cover annual program costs for around four months.

This charity report is an update that has been sent to Toronto Metropolitan University for review. Changes and edits may be forthcoming.

Updated on June 23rd, 2022 by Arjun Kapur.

Financial Review

Financial Ratios

Fiscal year ending April
Administrative costs as % of revenues 3.8%4.6%4.7%
Fundraising costs as % of donations 28.5%39.0%37.2%
Total overhead spending 32.3%43.6%41.9%
Program cost coverage (%) 30.8%(0.1%)7.7%

Summary Financial Statements

All figures in $000s
Donations 25,11218,53317,886
International donations 2,86326592
Government funding 451,487378,193334,670
Fees for service 408,117375,132376,588
Business activities (net) 11,33934,63635,819
Investment income 42,6551,45221,302
Other income 19,11319,43218,204
Total revenues 960,686827,643804,561
Program costs 709,667701,287658,246
Grants 95,80238,3048,107
Administrative costs 34,88938,25936,928
Fundraising costs 7,1617,2286,656
Other costs 13,06312,2669,528
Total spending 860,582797,344719,465
Cash flow from operations 100,10430,29985,096
Capital spending 40,51160,540121,240
Funding reserves 383,236132,319186,230

Note: Ci included deferred donations in revenue. This affects total revenue by $12.1m in F2021, $4.2m in F2020, and $3.6m in F2019. Contributions to endowments was included in donations, affecting revenue by $1.3m in F2021, $666k in F2020, and $1.2m in F2019. Investment income attributed to deferred revenue, unrealized investment gain, investment income attributed to deferred capital contributions, and investment income attributed to endowments were included in investment income. This affected total revenue by $22.2m in F2021, ($1.0m) in F2020, and $9.9m in F2019. Unrealized loss on interest rate swaps was removed from expenses and subtracted from investment income. This affects both revenues and expenses by ($9.4m) in F2020, and ($2.2m) in F2019. Ci used the charity's T3010 filing with the CRA to report administrative costs and fundraising costs. The T3010 was also used to report international donations. TMU's financial statements do not specify what portion of its deferred capital contributions were from the government. As a result, Ci did not include deferred capital contributions in revenues and did not remove amortization of deferred capital contributions from revenues.

Salary Information

Full-time staff: 3,207

Avg. compensation: $135,688

Top 10 staff salary range:

$350k +
$300k - $350k
$250k - $300k
$200k - $250k
$160k - $200k
$120k - $160k
$80k - $120k
$40k - $80k
< $40k

Information from most recent CRA Charities Directorate filings for F2021

My anchor

Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-979-5000


Charity Intelligence researches Canadian charities for donors to be informed and give intelligently. Our website posts free reports on more than 800 Canadian charities, as well as in-depth primers on philanthropic sectors like Canada’s environment, cancer, and homelessness. Today over 500,000 Canadians use our website as a go-to source for information on Canadian charities reading over 1.6 million charity reports. Through rigorous and independent research, Charity Intelligence aims to assist Canada’s dynamic charitable sector in being more transparent, accountable and focused on results.


Be Informed. Give Intelligently. Have Impact


Charitable Registration Number: 80340 7956 RR0001