University of Toronto
Toronto, ON M5S 1A2
President: Meric Gertler
Chancellor: Michael H. Wilson
Charitable Reg. #: 10816 2330 RR0001
Grade: AThe grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Cents to the Cause
Full-time staff #9,094
Avg. Compensation $147,381
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||0|
|$80k - $120k||0|
|$40k - $80k||0|
About University of Toronto:
Founded in 1827 as King’s College, University of Toronto (U of T) is a public research university. It was the first institution of higher learning in Upper Canada. U of T has 3 campuses: Scarborough, Mississauga and the historic St. George campus in downtown Toronto. To support its teaching and research, U of T established the largest library in Canada. U of T is now affiliated with 10 teaching hospitals and 3 smaller universities in Toronto. Times Higher Education ranks U of T as the 19th best university in the world.
In F2015, University of Toronto spent $2.1b on its programs, including $1.3b on salaries. It gave out $218.5m in scholarships, fellowships and bursaries. U of T has 86,709 students, including 15,930 international students. 59,434 students study at the St. George campus, while 16,498 are graduate students. The university offers 700 undergraduate and 200 graduate programs. U of T also has 255 Canada Research Chairs, the highest in any Canadian university. Over 552,000 U of T alumni live across the world.
Like many other universities, University of Toronto calculates its economic impact on both Ontario and Canada. It estimates that U of T contributes $15.7b to the Canadian economy every year. Students’ spending provides $2.6b in indirect economic benefit, employment and alumni earnings contribute $7.3b and research gives $5.7b through higher productivity.
University of Toronto is one of Canada’s Major 100 charities with donations of $118.5m along with tuition of $1.3bn and government funding of $1.1b. Administrative costs are 3% of total revenues and reported fundraising costs are 24% of total donations. Total overhead costs come to 27%, falling within Ci’s reasonable range. U of T has total funding reserves of $3.1b, including an endowment fund of $2.1b. Excluding donor-endowed funds, funding reserves can cover program costs for 5 months.
University of Toronto’s endowment fund per student comes to $25k.
This charity report is an update that is being reviewed by the charity. Changes and edits may be forthcoming.
Updated on August 30th, 2016 by Mirza Ali Shakir.
Financial RatiosFiscal year ending April
|Administrative costs as % of revenues||2.8%||2.8%||5.3%|
|Fundraising costs as % of donations||23.9%||21.5%||0.0%|
|Program cost coverage (%)||143.3%||126.2%||119.8%|
Summary Financial StatementsAll figures in $000s
|Fees for service||1,158,600||1,039,000||944,700|
|Business activities (net)||207,000||222,100||200,600|
|Cash flow from operations||708,200||617,600||313,500|