MaRS Discovery District

101 College St.
Toronto, ON M5G 1L7
CEO: Dr. Ilse Treurnicht
Board Chair: Gordon Nixon

Website: www.marsdd.com
Charitable Reg. #: 87668 2717 RR0001

Sector: Education

Operating Charity

Charity Rating

Not yet rated.

Results Reporting

Grade: NR

Charity not yet rated on the public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [Audited financial statement for most recent year]

Need for Funding

donor
endowed

Funding Reserves Program Costs

Spending Breakdown

Cents to the Cause

♦	♦	♦
			95¢



			75¢
			avg
			65¢


			50¢

2013	2014	2015

For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #112

Avg. Compensation $114,823

Top 10 Staff Salary Range

$350k +	1
$300k - $350k	1
$250k - $300k	0
$200k - $250k	2
$160k - $200k	6
$120k - $160k	0
$80k - $120k	0
$40k - $80k	0
< $40k	0

Information from most recent CRA Charities Directorate filings for F2014

About MaRS Discovery District:

Founded in 2005, MaRS Discovery District (MaRS) supports entrepreneurs and their business innovations in order to drive economic and social prosperity. MaRS provides resources — people, programs, physical facilities, funding and networks — to help promising new companies grow in Canada and scale in international markets. MaRS focuses on 3 sectors: information & communications technology, health, and cleantech. In the information & communications technology sector, MaRS supported 600 young ventures, raised $175m, and created 2,557 jobs in F2014. In the health sector, MaRS supported 280 young ventures, raised $193m, and created 1,064 jobs in F2014. In the cleantech sector, MaRS supported 10 initiatives, raised $174m, and created 1,456 jobs in F2014.

In 2014, the charity opened MaRS Centre, a 20-storey office tower with 1.5 million square feet of space. MaRS Center offers office space and event facilities to start-ups. In F2015, $11m of revenue came from real estate rentals and $6m was spent on property operations.

Financial Review:

In F2015, MaRS spent 15% of revenues on administrative costs and 7% of donations on fundraising costs. Total overhead costs of 23% fall within Ci's reasonable range. The charity has funding reserves of $14m, which can cover annual programs and grants for 6 months.

Analysis updated by Ruoxi Gao in 2016, currently under review by MaRS.

Financial Ratios Fiscal year ending March	2015	2014	2013
Administrative costs as % of revenues	15.4%	11.9%	11.9%
Fundraising costs as % of donations	7.4%	2.2%	1.3%
Program cost coverage (%)	47.0%	81.1%	64.7%

Summary Financial Statements All figures in $000s	2015	2014	2013
Donations	7,010	17,108	15,608
Government funding	15,606	13,679	12,387
Fees for service	3,188	2,967	2,865
Business activities (net)	4,651	4,711	4,656
Total revenues	30,455	38,465	35,516
Program costs	19,614	17,682	14,967
Grants	9,740	10,899	11,236
Administrative costs	4,676	4,589	4,216
Fundraising costs	515	367	208
Cash flow from operations	(4,090)	4,928	4,889
Funding reserves	13,785	23,188	16,960

Note: Ci deducted property operation expenses from real estate rental income in business activities, lowering total revenue and total costs by $6m in F2015, F2014, and F2013. The charity's F2015 T3010 filing did not list the top 10 highest compensated positions, thus compensation information is based on the charity's F2014 T3010 filing.

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