University of Manitoba
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.
92%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 92 cents are available for programs.
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OVERVIEW
About University of Manitoba:
University of Manitoba is a 5-star charity and one of Canada’s largest charities in terms of donations. It has an A results reporting grade, which is above average. Its overhead spending is within Ci’s reasonable range and it has reserve funds to cover its annual program costs for just over a year.
Founded in 1877, University of Manitoba (UM) is a public research university in Winnipeg, Manitoba. It is Manitoba’s largest and most research-intensive university. UM also hosts the National Centre for Truth and Reconciliation. UM is ranked 13th in Canada in Macleans’ 2023 medical/doctoral university rankings. UM has two programs: Academics and Research.
Academics: In the fiscal year ended March 2023 (F2023), University of Manitoba had 29,844 students. International students made up 22.1% of enrolled students. 8.8% of enrolled students self-declared as Indigenous. UM reports that it offers over 100 programs of study and almost 150 graduate programs. It has thirteen faculties, nine colleges, and four schools. Each year, UM reports that it provides $35m in awards and $14m in bursaries. In F2023, UM provided 526,221 undergraduate student credit hours.
Research: University of Manitoba reports that it has over 50 research centres, institutes, and shared facilities. UM has 50 Canada Research Chairs. It also has a Canadian Excellence Research chair and a Canada 150 Research Chair. UM is a member of the U15 group of research-intensive Canadian universities.
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Results and Impact
University of Manitoba reports that 32% of its 2017-2018 undergraduate class graduated within four years of enrolment, 48% graduated within five years of enrolment, and 58% graduated within six years of enrolment. It reports that 66% of its 2015-2016 undergraduate class graduated within eight years of enrolment.
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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Finances
University of Manitoba is a Major 100 charity, one of Canada’s largest charities in terms of donations. In F2023, University of Manitoba received $100.3m in Canadian and International donations. It received $543.3m (49% of total revenue) in government funding and $226.0m (21% of total revenue) in tuition and related fees. Administrative costs are 3% of total revenue (excluding investment income) and fundraising costs are 5% of donations. Overhead spending is 8%, which is within Ci’s reasonable range. For every dollar donated, 92 cents are available for the cause. In F2023, UM spent $833.3m (76% of total revenue) on its programs. $20.6m of program spending went towards programming outside of Canada. Most of these funds went to India Health Action Trust.
In F2023, UM had a surplus of $213.8m and spent $69.8m on capital expenditures.
At the end of F2023, UM had $1.5b in reserve funds. This includes $620.0m in donor-endowed funds. Excluding donor-endowed funds, UM has reserve funds to cover 105% or around a year of its annual program costs.
There appears to be an error with the charity's T3010 compensation filing with the CRA. The charity reports no full-time employees and 4,318 part-time employees. It reports spending $nil on compensation for part-time employees in the fiscal period, and spending $471.3m on compensation for full-time employees in the fiscal period.
This charity report is an update that was sent to University of Manitoba for review. Changes and edits may be forthcoming.
Updated on June 24, 2024 by Thea Clark.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 3.0% | 3.1% | 3.1% |
| Fundraising costs as % of donations | 5.0% | 3.4% | 2.8% |
| Total overhead spending | 8.0% | 6.5% | 5.9% |
| Program cost coverage (%) | 104.9% | 104.3% | 93.8% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 94,979 | 106,534 | 91,151 |
| International donations | 5,340 | 2,024 | 5,284 |
| Government funding | 543,288 | 542,319 | 560,899 |
| Fees for service | 225,955 | 221,992 | 206,690 |
| Business activities (net) | 47,370 | 34,979 | 23,038 |
| Investment income | 60,273 | 41,842 | 39,698 |
| Other income | 120,672 | 61,233 | 48,708 |
| Total revenues | 1,097,877 | 1,010,923 | 975,468 |
| Program costs - International | 20,633 | 26,695 | 19,661 |
| Program costs - Canada | 812,637 | 752,754 | 727,456 |
| Administrative costs | 31,470 | 29,681 | 29,022 |
| Fundraising costs | 4,734 | 3,614 | 2,537 |
| Other costs | 14,578 | 14,943 | 15,466 |
| Total spending | 884,053 | 827,687 | 794,143 |
| Cash flow from operations | 213,824 | 183,236 | 181,325 |
| Capital spending | 69,825 | 65,352 | 69,065 |
| Funding reserves | 1,461,817 | 1,381,767 | 1,226,063 |
Note: FUNDRAISING: The charity does not report fundraising costs on its audited financial statements. Ci used the charity’s T3010 filing with the CRA to determine fundraising costs. DEFERRED REVENUE: The charity uses deferred accounting. To show donors this information on a consistent basis, Ci adjusted for deferred revenues. This affected revenues by $99.9m in F2023, $39.7m in F2022, and $25.5m in F2021. ENDOWED DONATIONS: Ci included contributions to the endowment fund in revenue, affecting revenues by $17.1m in F2023, $22.0m in F2022, and $13.5m in F2021. ANCILLARY SERVICES: Ci reported the net value of ancillary services, affecting revenues and expenses by ($24.5m) in F2023, ($20.3m) in F2022, and ($20.5m) in F2021. AMORTIZATION: Ci removed amortization from program, administrative, and fundraising costs on a pro-rata basis. NET GAIN (LOSS) ON DEBT: Ci removed net gain (loss) on debt from revenues and expenses, affecting revenues and expenses by $nil in F2023, $nil in F2022, and ($224k) in F2021.
Salary Information
$350k + |
10 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$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
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 1-800-432-1960