Queen's University

99 University Avenue
Kingston, ON K7L 3N6
Principal: Daniel Woolf
Board Chair: Barbara Palk

Website: www.queensu.ca
Charitable Reg. #: 10786 8705 RR0001
Sector: Education - University
Operating Charity

Charity Rating

[Charity Rating: 4/4]

Results Reporting

Grade: B+

The grade is based on the charity's 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

Funding Reserves Program Costs

Spending Breakdown

Cents to the Cause

2013 2014 2015
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #2,560

Avg. Compensation $118,967

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 F2015

About Queen's University:

Founded in 1841, Queen’s University (QU) is a public research university in Kingston, Ontario. QU’s 4 strategic goals are to enhance learning, research, strengthen the community and become financially sustainable. QU is home to 23,222 students, including 17,390 undergraduate and 3,746 graduate students. 6% of undergraduate students and 25% of graduate students are international students, coming from 109 countries. The university has 30 research chairs. Maclean’s rates Queen’s University as one of the best universities in Canada.

In F2015, Queen’s University spent $684.2m on its programs, including $430.1m on salaries of 8,289 faculty and staff. QU gave out $56m in financial aid and scholarships. In F2015, QU opened the Isabel Bader Centre for the Performing Arts and launched a one-year Master of Entrepreneurship and Innovation degree to encourage innovation. To similar effect, QU started the Queen’s Innovation Connector Summer Initiative to support young entrepreneurs. In F2015, 5 Queen’s faculty members were elected to the Royal Society of Canada.

Compared to students at 500 institutions for the Collegiate Learning Assessment, Queen’s University’s students ranked in the 90th percentile for critical thinking, problem solving and written communication. When compared to 4th year students only, QU’s students ranked in the 98th percentile. The improvement highlights Queen’s University’s learning experience. The 2013 Ontario University Graduate Survey shows that, in 2013, 92% of QU’s graduates were employed. The provincial average is 87%.

Financial Review:

Queen’s University is one of Canada’s Major 100 charities with donations of $75.7m along with tuition of $268.5m and government funding of $366.2m. Administrative costs are 4% of total revenues and reported fundraising costs are 15% of total donations, as taken from the charity’s T3010 filings. Total overhead costs come to 19%, falling within Ci’s reasonable range. QU has total funding reserves of $1.1bn, including an endowment fund of $918.8m. Excluding donor-endowed funds, QU’s funding reserves can cover program costs for 3 months.

QU’s endowment fund per student comes to $40k. QU’s high operating cash flow of $213.4m was used to buy capital goods worth $52.3m and build up funding reserves.

This charity report is an update that is being reviewed by the charity. Changes and edits may be forthcoming.

Updated on August 26th, 2016 by Mirza Shakir.

Financial Ratios

Fiscal year ending April
Administrative costs as % of revenues 3.5%2.9%2.6%
Fundraising costs as % of donations 15.3%10.7%12.5%
Program cost coverage (%) 155.9%130.1%112.8%

Summary Financial Statements

All figures in $000s
Donations 75,671106,30894,381
Government funding 366,158357,285356,501
Fees for service 268,548244,534233,095
Business activities (net) 85,40181,14977,841
Investment income 130,851123,810122,216
Other income 23,78722,79121,522
Total revenues 950,416935,877905,556
Program costs 684,215690,435674,902
Administrative costs 28,33723,26220,304
Fundraising costs 11,58811,36311,840
Other costs 12,88512,56212,371
Cash flow from operations 213,391198,255186,139
Funding reserves 1,066,412898,018761,480
Note: Ci included donations for endowments and investment income from endowments in its revenues calculation. Ci also included contributions for capital assets in its revenues calculation. QU does not report administrative and fundraising costs on its audited financial statements. Ci took administrative and fundraising costs from the charity’s T3010 filings. Ci removed amortization of deferred capital contributions from the income statement.

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