Memorial University of Newfoundland

P.O. Box 4200
St. John’s, NL A1C 5S7
President: Neil Bose
Board Chair: Glenn Barnes

Charitable Reg. #:10769 0273 RR0001


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

[Charity Rating: 5/5]



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) 64 cents are available for programs.

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About Memorial University of Newfoundland:

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.

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Results and Impact

In April 2021, KPMG produced a report on the university’s economic impact based on 2020 data. The report states that the university adds approximately $293m to the provincial GDP due to its operations, with an additional $67m added due to capital expenditures, $210m from students, and $55m from visitors. The university supports around 9,920 jobs throughout the province.

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

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

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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

Financial Review

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 17.4%16.9%21.9%
Fundraising costs as % of donations 18.8%16.2%12.8%
Total overhead spending 36.2%33.1%34.8%
Program cost coverage (%) 12.7%14.4%15.4%

Summary Financial Statements

All figures in $000s
Donations 15,31117,05317,365
Government funding 406,313430,878400,158
Fees for service 124,384105,83585,343
Investment income 32,19034,43530,651
Other income 123,476111,908112,641
Total revenues 701,674700,109646,158
Program costs - International 878828692
Program costs - Canada 502,218492,872414,977
Administrative costs 116,495112,284135,057
Fundraising costs 2,8762,7622,227
Other costs 6,2213,929629
Total spending 628,688612,674553,582
Cash flow from operations 72,98687,43592,576
Capital spending 21,83632,79417,959
Funding reserves 170,760175,529165,476

Note: FROM FILING WITH CRA: MUN does not report donations, international program costs, administrative costs, or fundraising costs on its audited financial statements. This data was found on the charity's T3010 filing with the CRA. DEFERRED CONTRIBUTIONS: Ci excluded amortization of deferred capital contributions from revenues. Ci included received capital contributions, affecting total revenues by $44.0m in F2023, $42.9m in F2022, and $52.4m in F2021. Ci adjusted for deferred contributions, affecting revenue by $8.6m in F2023, $9.6m in F2022, and $18.2m in F2021. Deferred contributions and deferred capital contributions were included in other revenue because MUN's audited financial statements do not differentiate government deferred contributions from private deferred contributions. INVESTMENT INCOME: Unrealized investment gain is included in investment income. This affects revenues by $18.7m in F2023, $19.8m in F2022, and $20.9m in F2021. ENDOWMENT: Endowment contributions are included in donations, affecting revenue by $1.8m in F2021, $2.5m in F2020, and $2.9m in F2019. EXTERNAL COST RECOVERY: External cost recovery was removed from expenses and included in other revenue to report on a cash basis.

Salary Information

Full-time staff: 3,160

Avg. compensation: $108,007

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 F2023

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

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Charitable Registration Number: 80340 7956 RR0001