99 University Avenue
Kingston, ON K7L 3N6
Principal: Patrick Deane
Board Chair: David Court

Charitable Reg. #:10786 8705 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 4/5]

✔+

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.

77%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 77 cents are available for programs.



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OVERVIEW

About Queen's University:

Queen's University is a 4-star charity. It is financially transparent, has overhead spending within Ci's reasonable range, and has an above-average results reporting grade.  

Founded in 1841, Queen's University (Queen's) is a public university in Kingston, Ontario and one of Canada's oldest degree-granting institutions. Queen's states that it has a global alumni network of more than 150,000 members. Its main programs are education and research. Queen's does not provide a breakdown of spending on these programs. 

In F2023, Queen's University had 28,142 enrolled students. This includes enrolment of 20,592 undergraduate students, 3,965 graduate students, 1,666 second degree students (law, medicine, etc), 1,357 MBA and graduate professional master's students, and 562 post-graduate medicine students.  The university is home to 4,037 international students from 120 countries. Queen's offers programs in 178 disciplines taught by eight faculties. 

Queen's University has 23 research centres and institutes. Additionally, the university is home to 49 Canada Research Chairs. In F2023, 54 Queen's researchers published 52 articles and garnered over 1.1 million reads on The Conversation Canada.  

 

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Results and Impact

Queen's University states that for its 2014 cohort, the 7-year graduation rate was 86%. The charity also reports that the first-year retention rate for the 2020 cohort was 94%. 

The university reports that in 2019 it contributed $1.9 billion to Canada’s GDP.  

Queen's was ranked third globally and first in North America for universities advancing the United Nation's Sustainable Development Goals in 2023.  

While Ci highlights these key results, they may not be a complete representation of Queen's University's results and impact. This charity is not yet rated on impact (n/r). 

 

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Finances

Queen's University had total donations of $73.8m in F2023. During the year, Queen's also received $431.1m in government grants (35% of revenues), and $425.1m in student fees (34% of revenues).  

Administrative costs are 4% of revenues (less investment income), and fundraising costs are 19% of donations. This results in total overhead spending of 23%.  For every dollar donated to the charity, 77 cents are available for programs. This is within Ci's reasonable range for overhead spending. 

In F2023, Queen’s spent $986.0m on its programs and grants, which is 80% of total revenues. The charity had $178.2m in surplus and spent $63.6m on capital projects. 

Queen's University has $2.1 billion in net reserve funds ($2.5 billion in cash and investments less $392.8m in interest-bearing debts), of which $1.2 billion is donor endowed. Excluding donor-endowed funds, Queen's could cover 94% or 11 months of annual program costs.  

Charity Intelligence has sent this update to Queen's University for review. Changes and edits may be forthcoming. 

Updated on August 23, 2024 by Alessandra Castino. 

Financial Review


Financial Ratios

Fiscal year ending April
202320222021
Administrative costs as % of revenues 3.8%3.8%3.6%
Fundraising costs as % of donations 19.0%42.1%14.6%
Total overhead spending 22.8%45.9%18.1%
Program cost coverage (%) 94.0%100.2%116.0%

Summary Financial Statements

All figures in $000s
202320222021
Donations 73,80132,74885,802
Government funding 431,113425,672429,842
Fees for service 425,083427,633409,473
Business activities (net) 115,95586,56645,532
Investment income 139,61835,829371,577
Other income 51,35430,98132,319
Total revenues 1,236,9241,039,4291,374,545
Program costs 985,830896,936839,516
Grants 19039540
Administrative costs 41,51037,95635,662
Fundraising costs 14,02713,77812,513
Other costs 17,12117,26217,385
Total spending 1,058,678966,327905,116
Cash flow from operations 178,24673,102469,429
Capital spending 63,62691,37137,641
Funding reserves 2,059,3431,990,4322,040,008

Note: DEFERRED DONATIONS: Ci adjusted for deferred revenues, affecting total revenues by $34.8m in F2023, ($9.8m) in F2022, and $45.2m in F2021. DEFERRED CAPITAL CONTRIBUTIONS: Ci excluded amortization of deferred capital contributions and included received capital contributions, affecting total revenues by ($3.3m) in F2023, ($12.4m) in F2022, and ($10.6m) in F2021. ENDOWMENT: Ci included endowment contributions in donations and investment income on external endowments in investment income. This increased revenues by $79.6m in F2023, $52.8m in F2022, and $244.7m in F2021. ACTIVITY-BASED COSTING: Ci reported grants, administrative costs, and fundraising costs from the charity’s T3010 filings with the CRA. AMORTIZATION: Ci removed amortization on a pro-rata basis from program, administrative, and fundraising costs.

Salary Information

Full-time staff: 3,604

Avg. compensation: $110,992

Top 10 staff salary range:

$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:

No comments have been added by the charity.

Charity Contact

Website: www.queensu.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 613-533-2000

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Charitable Registration Number: 80340 7956 RR0001