University of Manitoba

66 Chancellors Circle
Winnipeg, MB R3T 2N2
President: Michael Benarroch
Board Chair: Laurel Hyde

Charitable Reg. #:11926 0669 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) 95 cents are available for programs.

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About University of Manitoba:

University of Manitoba is a top-rated five-star charity and one of Canada's largest charities. As with most large universities, it has a high results reporting grade and is financially transparent. The university does not have large funding reserves and can cover less than a year of program costs. 

Founded in 1877, the University of Manitoba (U of M) is a public research university located in Winnipeg, Manitoba. It is the oldest university in western Canada and the only research-intensive university in Manitoba. U of M has two main campuses: the Bannatyne campus in downtown Winnipeg and the Fort Garry Campus located 20 minutes outside of the city centre. It also has multiple satellite sites across the province. The university’s main charitable programs are Academics, Research, and Renovations.

In fall of 2021, University of Manitoba had 31,037 students enrolled. This included 26,412 undergraduate students, 3,931 graduate students, and 694 postgraduate medical students. The charity reports that 2,614 of its students are indigenous and 6,788 students are from outside of Canada. U of M offers over 100 programs of study to undergraduate students and over 140 programs for graduate students. In the fall 2021 term, the university taught a total of 275,585 credit hours.

U of M reports that it has 85 endowed and sponsored research chairs, including 50 Canada Research Chairs, a Senior Canada 150 Research Chair, a Canada Excellence Research Chair, and a Canada Excellence Research Chair Laureate. The university has over 50 different research centres. In F2021, U of M spent $2.3m renovating the Drake Centre, $2.1m renovating the RTDS Technologies Research building, and $1.6m renovating the Pathology building.

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Results and Impact

University of Manitoba reports that 34% of its 2016 undergraduate entering class graduated within four years of enrollment. It reports that 65% of its 2013 undergraduate entering class graduated within eight years of enrollment.

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

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

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University of Manitoba is a Major 100 charity, one of Canada’s largest charities in terms of donations. In F2021 it received $114.9m in Canadian donations. It also received $206.7m in student fees (21% of total revenue) and $560.9m in government funding (58% of total revenue). In F2021, the university earned $36.4m in investment income, which represents a 3% annual return. Its average annual investment return since F2014 is 6%. The average annual investment return of the S&P 500 from 2014 to 2021 is around 13%. Investments in a private infrastructure fund comprise 6% of the charity’s portfolio.

University of Manitoba’s administrative costs are 3% of total revenue excluding investment income. Its fundraising costs are 2% of Canadian donations. This results in total overhead spending of 5%. For every dollar donated to the charity, 95 cents go to the cause. This is within Ci’s reasonable range for overhead spending.

The university has $1.2 billion in net funding reserves ($1.5 billion in liquid assets less $323.9m in interest-bearing debts). Its liquid assets also include $550.8m in donor-endowed funds. The charity’s net funding reserves, excluding donor-endowed funds, can cover annual program costs for around 11 months.

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

Updated on June 28th, 2022 by Arjun Kapur.

Financial Review

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 3.1%3.2%3.0%
Fundraising costs as % of donations 2.2%3.8%2.7%
Total overhead spending 5.3%6.9%5.7%
Program cost coverage (%) 93.8%74.2%72.1%

Summary Financial Statements

All figures in $000s
Donations 114,93883,109105,919
International donations 5,2842,6085,267
Government funding 560,899528,322533,757
Fees for service 206,690195,743184,996
Business activities (net) 23,03849,59849,744
Investment income 36,40629,37856,553
Other income 23,19017,47217,031
Total revenues 970,445906,230953,267
Program costs - International 19,66129,84214,680
Program costs - Canada 727,456717,678712,014
Administrative costs 29,02227,89727,236
Fundraising costs 2,5373,1282,836
Other costs 15,46616,09816,144
Total spending 794,142794,643772,910
Cash flow from operations 176,303111,587180,357
Capital spending 69,06565,772118,800
Funding reserves 1,226,0631,008,1771,012,365

Note: Ci used the charity’s T3010 filing with the CRA to report fundraising costs. Ci includes contributions to the endowment in donations, affecting revenues by $13.5m in F2021, $15.9m in F2020, and $17.5m in F2019. Ci includes deferred donations and deferred investment income in revenue, affecting revenues by $20.5m in F2021, ($33.6m) in F2020, and $21.6m in F2019. Net gain on debt and net loss on debt were removed from revenues and expenses respectively, affecting them by ($224k) in F2021, ($3.8m) in F2020, and ($80.3m) in F2019. The cost of ancillary services was subtracted from business activity revenue, affecting both revenues and expenses by ($20.5m) in F2021, ($25.7m) in F2020, and ($25.3m) in F2019. Amortization was removed from program costs, administrative costs, and fundraising costs on a pro-rata basis.  

Salary Information

Full-time staff: 4,942

Avg. compensation: $77,497

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

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Comments & Contact

Comments added by the Charity:

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Charity Contact

This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 1-800-432-1960 


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Charitable Registration Number: 80340 7956 RR0001