Memorial University of Newfoundland is a top-rated five-star charity with low funding reserves that can cover two months of annual program costs. As with most large universities, it has a high results reporting grade and is financially transparent.

Founded in 1925, Memorial University of Newfoundland (MUN) is a public university based in St. John’s. MUN is the only university in Newfoundland and Labrador. The university has five campuses across the province: St. John’s, Signal Hill, Labrador, Grenfell, and the Marine Institute. It also has one campus in Harlow, United Kingdom. MUN offers students over 300 academic programs across its 14 faculties and schools. As well as its educational programs, the university also conducts research.

A Charity Intelligence 2023 Top 100 Rated Charity

In Fall of 2023, Memorial University of Newfoundland had 18,896 students enrolled, including 13,481 undergraduate students, 4,693 graduate students, 468 Marine Institute diploma students, and 254 postgraduate medical students. The charity reports that it had 4,889 international students. The university awarded 3,857 degrees in F2023, including 2,412 Bachelors, 1,095 Masters, 108 PhDs, and 242 diplomas and certificates.

The university reports that it spent $140.7m on research and development in F2023. It did not disclose the number of research grants it gave out during the year. MUN currently has 17 Canada Research Chairs. It states that in F2023 its researchers published 2,162 research publications. MUN also reports that 40% of its research is ocean-related.

In F2023, Memorial University of Newfoundland received $15.3m in Canadian donations. It also received $406.3m of government funding (58% of total revenue), and $124.4m in tuition fees (18% of total revenues). Tuition fee revenue increased by 18% from F2022.

Administrative costs are 17% of total revenue excluding investment income. Fundraising costs are 19% of donations. This results in total overhead spending of 36%. For every dollar donated to the charity, 64 cents go to the cause. This is just outside Ci’s reasonable range for overhead spending. 

In F2023, MUN spent $503.1m in program costs, which represents 72% of total revenues. The university had a surplus of $73.0m, which is 11% of revenues, and spent $21.8m on capital projects.

Memorial University of Newfoundland has $170.8m in net reserve funds ($400.0m in cash and investments less $229.3m in interest-bearing debts). Its cash and investments include $107.7m in donor-endowed funds. MUN’s net reserve funds, excluding donor-endowed funds, can cover annual program costs for around two months.

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

Updated on June 3, 2024 by Alessandra Castino