University of New Brunswick
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
A
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
n/r
DEMONSTRATED IMPACT
The demonstrated impact per dollar Ci calculates from available program information.
NEED FOR FUNDING
Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.
72%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 72 cents are available for programs.
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OVERVIEW
About University of New Brunswick:
University of New Brunswick is a 5-star charity. As with most Universities, it has a high results reporting grade and is financially transparent. Its overhead costs are within Ci’s reasonable range. The charity can cover just over 1 year of program costs with its funding reserves.
Founded in 1785, University of New Brunswick (UNB) is one of the oldest public universities in North America. It has a main campus in Fredericton and another in Saint John. The university has 14 faculties that offer both undergraduate and graduate programs.
In F2023, University of New Brunswick spent $287.4m on its programs, including $138.6m (48%) on teaching and non-sponsored research, and $59.0m (21%) on research grants. It gave out $18.6m (6%) in scholarships and financial aid. The remaining 25% of program spending went to university-wide expenses, such as plant operations, libraries, and central computing.
A Charity Intelligence 2023 Top 100 Rated Charity
In Fall 2023, UNB had 10,396 students enrolled, of which 8,174 were in the Fredericton campus, and 2,222 in the Saint John campus. Furthermore, the university had 8,370 undergraduate students and 2,026 graduate students. In the academic year 2023-2024 the university awarded 2,567 degrees. UNB states it has a student-faculty ratio of 15:1 and it offers more than 75 programs.
The University’s research program has 16 research groups and houses more than 20 leading research institutes and centers. As a research university, UNB is responsible for over 70% of all publicly funded research in New Brunswick. UNB is host to 33 research chairs, of which 12 were Canada Research Chairs.
In August 2023, University of New Brunswick started construction on its new Health and Social Innovation Centre. It will be 65,000 square feet and will host UNB’s Integrated Health initiative. The goal is to open the new building by September 2024.
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Results and Impact
In April 2020, Esmi conducted an economic value study on the University of New Brunswick. The report found that in F2019, UNB generated $1.8 billion in added income for the New Brunswick economy, or 5% of the province’s gross provincial product. The added income is equivalent to supporting 20,915 jobs. One out of every 17 jobs in New Brunswick is supported by the activities of UNB and its students.
The study also states that for every $1 spent on UNB students, $2.50 is returned in lifetime earnings for students, $6.00 is returned in added provincial income and social savings for society, and $4.30 is returned in added taxes and public-sector savings for taxpayers. The average bachelor’s degree graduate from UNB will see an increase in earnings of $30,200 each year compared to someone with a high school diploma working in New Brunswick.
While Ci highlights these key results, they may not be a complete representation of University of New Brunswicks’s results and impact. Charity Intelligence has not yet rated University of New Brunswick on impact. This shows as (n/r).
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Finances
In F2023, University of New Brunswick received $18.8m in donations. It also received $128.3m in tuition fees (35% of revenues), and $189.6m in government funding (52% of revenues). Administrative costs are 9% of revenues and fundraising costs are 19% of donations. The University spends 28% on overhead. This means, for every dollar donated, 72 cents are available for the cause. This is within Ci’s reasonable range for overhead spending.
In F2023, UNB spent $287.4m on its programs, which is 79% of total revenues. The university’s operating cash flow was $40.4m, which is 11% of its total revenues in F2023. The charity also spent $32.4m on capital projects, an increase of 92% from F2022.
UNB has $533.6m in reserve funds (cash and investments), of which $223.7m is donor endowed. Excluding donor-endowed funds, University of New Brunswick can cover one year and one month of annual program costs.
This charity report is an update that has been sent to University of New Brunswick for review. Changes and edits may be forthcoming.
Updated on May 24, 2024 by Alessandra Castino
Financial Review
Fiscal year ending April
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 9.1% | 8.5% | 7.7% |
| Fundraising costs as % of donations | 19.2% | 15.2% | 18.4% |
| Total overhead spending | 28.4% | 23.7% | 26.1% |
| Program cost coverage (%) | 112.2% | 119.7% | 124.8% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 18,826 | 20,672 | 16,449 |
| Government funding | 189,578 | 182,201 | 176,850 |
| Fees for service | 128,257 | 113,086 | 102,098 |
| Business activities (net) | 2,909 | 1,857 | (3,482) |
| Investment income | 22,926 | 12,461 | 25,456 |
| Other income | (71) | (16,954) | 48,494 |
| Total revenues | 362,425 | 313,323 | 365,865 |
| Program costs | 287,364 | 275,133 | 251,719 |
| Administrative costs | 31,019 | 25,582 | 26,260 |
| Fundraising costs | 3,619 | 3,138 | 3,021 |
| Total spending | 322,002 | 303,853 | 281,000 |
| Cash flow from operations | 40,423 | 9,470 | 84,865 |
| Capital spending | 32,403 | 16,880 | 32,215 |
| Funding reserves | 533,551 | 519,638 | 498,177 |
Note: DONATIONS: Ci included donations to the charity’s endowment fund and capital campaign. This increased donations by $12.4m in F2023, $13.8m in F2022, and $16.3m in F2023. ACTIVITY BASED COSTING: The charity does not report fundraising costs on its audited financial statements. Ci took fundraising costs from the charity’s T3010 filings. BUSINESS ACTIVITIES: Ci reported ancillary revenues net of expenses, reducing both revenues and expenses by $14.9m in F2023, $12.6m in F2022, and $6.7m in F2021. DEFERRED CONTRIBUTIONS: Ci adjusted for deferred contributions and received capital contributions, affecting total revenues by ($71k) in F2023, ($17.0m) in F2022, and $48.5m in F2021. Deferred contributions were included in other revenue because Ci could not break out changes in government vs. non-government deferred contributions.
Salary Information
$350k + |
1 |
$300k - $350k |
2 |
$250k - $300k |
5 |
$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 F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
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