University of Prince Edward Island

550 University Avenue
Charlottetown, PE C1A 4P3
President: Dr. Alaa S. Abd-El-Aziz
Chancellor: Dr. Don McDougall

Charitable Reg. #: 10816 2108 RR0001
Sector: Education - University
Operating Charity

Results Reporting

Grade: A-

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

Cents to the Cause

2013 2014 2015
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #654

Avg. Compensation $112,103

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 1
$250k - $300k 0
$200k - $250k 3
$160k - $200k 6
$120k - $160k 0
$80k - $120k 0
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About University of Prince Edward Island:

University of Prince Edward Island (UPEI) is a public research university which has roots in two founding institutions, Prince of Wales College (established in 1834) and St. Dunstan’s University (established in 1855). UPEI has 4 faculties (arts, education, science and veterinary medicine) and 2 schools (business and nursing).

In F2015, University of Prince Edward Island spent $102.9m on its programs, including $72.8m on salaries and benefits. It gave out $5.6m in scholarships to 2,879 total recipients. The university has 4,400 students, including 4,105 undergraduate students and 389 graduate students and a network of 23,000 alumni across the world. UPEI is home to 5 Canada Research Chairs, 2 research institutes and 7 research centres. It runs 100 student exchange programs throughout the world. 25 to 30 students travel outside of Canada as part of a 6-week placement for the International and Indigenous Education specialization. 100 business students completed work assignments with public and private companies. UPEI’s research programs support more than 70 researchers in areas of natural sciences, engineering, health sciences and social sciences.

University of Prince Edward Island used input-output models from Statistics Canada to disclose its economic impact on the province. It reports that, in 2013, UPEI’s contribution to the GDP was $150.1m and the university supported labour income of $91.1m. UPEI states that its consumer spending impact on the province is $69m.

Financial Review:

University of Prince Edward Island is a Big-Cap charity with donations of $2.7m along with tuition of $32.5m and government funding of $70.4m. Administrative costs are 7% of total revenues and reported fundraising costs are 39% of total donations. Total overhead costs come to 45%, falling above Ci’s reasonable range. UPEI has total funding reserves of $63.3m, including an endowment fund of $23.4m. Excluding donor-endowed funds, UPEI’s funding reserves can cover program costs for 5 months.

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

Updated on August 18th, 2016 by Mirza Shakir.

Financial Ratios

Fiscal year ending April
Administrative costs as % of revenues 6.8%7.4%6.8%
Fundraising costs as % of donations 38.6%20.6%26.6%
Program cost coverage (%) 61.5%47.4%28.8%

Summary Financial Statements

All figures in $000s
Donations 2,7143,7063,395
Government funding 70,43770,94575,819
Fees for service 32,51330,86129,819
Business activities (net) 18,46517,57219,130
Investment income 3,3571,1422,349
Total revenues 127,485124,227130,512
Program costs 102,851100,546115,222
Administrative costs 8,4749,0758,707
Fundraising costs 1,048764903
Other costs 4,2534,0574,323
Cash flow from operations 10,8609,7871,357
Funding reserves 63,25947,68233,133
Note: Ci included donations to the charity’s endowment fund. UPEI 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 removed amortization of deferred revenue from the income statement.

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