University of Toronto is a 3-star charity and one of Canada's largest charities. It has a high results reporting grade and is financially transparent. The charity does not report administrative and fundraising costs in its audited financial statements. 

Founded in 1827 as King's College, University of Toronto (U of T) is a public research university in Ontario. U of T is the oldest university in Ontario. Today, U of T spans three campuses: St. George in downtown Toronto, Mississauga, and Scarborough. U of T states that it teaches over 97,000 students across its three campuses. The university's main charitable programs are education and research. It does not provide a breakdown of spending on these programs.

In F2023, University of Toronto had 86,297 (full-time equivalent) enrollment, including 65,771 undergraduate students and 20,526 graduate students. In Fall 2022, international students comprised 29.8% of total enrolment and 32.6% of undergraduate intake. U of T reported that international students in the incoming Fall 2022 class came from 135 countries and regions. The university also states that an average of 44% of students over the past five years came from low-income families. 

University of Toronto is home to 330 Canada Research Chairs. According to the university, it has the highest allocation of Canada Research Chairs in the country by a margin of over 130 chairs. In F2023, U of T managed 340 research funds and promoted 439 events to support its research and innovation community. 

University of Toronto is a Major 100 charity, one of Canada's largest charities in terms of donations. In F2023, it received $188.0m in Canadian donations, up 15% from $160.0m in F2022. It also received $2.2 billion in student fees (53% of total revenue) and $1.2 billion in government funding (29% of total revenue). In F2023, the university earned $280.0m in investment income, representing a 4% annual return. Its average yearly investment return over the past five years is 5%.

University of Toronto does not report administrative and fundraising costs in its audited financial statements. Thus, Ci reported administrative and fundraising spending from the university's T3010 filing with the CRA in F2022 and F2021. However, the university's F2023 T3010 is not available at the time of this report; therefore, Ci cannot report overhead spending for F2023. In F2022, administrative costs were 3% of revenues (excluding investment income), and fundraising costs were 24% of donations. This results in total overhead spending of 28%. For every dollar donated in F2022, 72 cents went to the cause.

U of T has $7.0 billion in reserve funds (cash and investments), of which $2.8m is donor endowed. Excluding donor-endowed funds, U of T could cover 133% or just under one year and four months of its annual program costs.

This charity report is an update that has been sent to University of Toronto. Changes and edits may be forthcoming.

Updated on July 5, 2023 by Sydney Olexa.