Queen's University
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
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.
66%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 66 cents are available for programs.
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OVERVIEW
About Queen's University:
Queen's University is a 3-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 F2022, Queen's University had 33,021 enrolled students. This includes enrolment of 32,221 in for-credit courses (4% increase from 2021) and 800 in non-credit courses (55% increase from 2021). The university is home to students from 101 countries, with international students making up 11% of total students and 32% of tuition revenue. Queen's offers 92 undergraduate programs across 53 departments and 125 graduate degrees across 50 disciplines.
Queen's University has 24 research centres and institutes. Additionally, the university is home to 34 Canada Research Chairs. In F2022, 69 Queen's researchers published 76 articles and garnered over 1.7 million reads on The Conversation. Additionally, Queen's hosted four workshops for its researchers and graduate students.
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Results and Impact
Queen's University states that it has a graduation rate of 89%.
The university also states that it generates over $1.6 billion annually in economic and social benefits through jobs, health care, and supports for start-ups. Additionally, Queen's reports that it contributes $247m to the GDP of the Kingston region each year.
Queen's was ranked third globally and first in North America for universities advancing the United Nation's Sustainable Development Goals in 2023.
In F2022, Queen's researchers discovered an organic coating that could extend the lifespan of critical metals and save billions of dollars across the infrastructure, microchip, and healthcare industries.
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 $45.6m in F2022. This is a 55% decrease from $100.6m in donations in F2021. During the year, Queen's also received $433.4m in student fees (42% of revenues) and $425.7m in government grants (41% of revenues). Administrative costs are 4% of revenues (less investment income), and fundraising costs are 30% of donations. This results in total overhead spending of 34%, compared to 16% in F2021. This increase occurred because donations decreased by 55% while fundraising costs increased by 10%. For every dollar donated to the charity, 66 cents go to the cause. This is within Ci's reasonable range for overhead spending.
Queen's University has $2.0 billion in reserve funds (cash and investments), of which $1.1 billion is donor endowed. Excluding donor-endowed funds, Queen's could cover 100% or just over one year of annual program costs.
Charity Intelligence has sent this update to Queen's University for review. Changes and edits may be forthcoming.
Updated on June 20, 2023, by Sydney Olexa.
Financial Review
Fiscal year ending April
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Administrative costs as % of revenues | 3.8% | 3.6% | 3.4% |
| Fundraising costs as % of donations | 30.2% | 12.4% | 11.1% |
| Total overhead spending | 34.0% | 16.0% | 14.5% |
| Program cost coverage (%) | 100.2% | 116.0% | 87.9% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 45,630 | 100,628 | 113,923 |
| Government funding | 425,672 | 429,842 | 407,760 |
| Fees for service | 433,356 | 402,762 | 396,553 |
| Business activities (net) | 82,477 | 45,532 | 96,496 |
| Investment income | 35,829 | 371,577 | 51,698 |
| Other income | 21,244 | 18,323 | 22,557 |
| Total revenues | 1,044,208 | 1,368,664 | 1,088,987 |
| Program costs | 896,936 | 839,516 | 874,268 |
| Grants | 395 | 40 | 437 |
| Administrative costs | 37,956 | 35,662 | 35,591 |
| Fundraising costs | 13,778 | 12,513 | 12,633 |
| Other costs | 17,262 | 17,385 | 13,963 |
| Total spending | 966,327 | 905,116 | 936,892 |
| Cash flow from operations | 77,881 | 463,548 | 152,095 |
| Capital spending | 91,371 | 37,641 | 26,521 |
| Funding reserves | 1,990,432 | 2,040,008 | 1,648,358 |
Note: To report on a cash basis, Ci adjusted donations by changes in deferred revenue (excluding student fees and government funding) and deferred capital contributions. This affected revenues by ($17.4m) in F2022, $28.6m in F2021, and $43.9m in F2020. Ci included endowment contributions in donations and investment income on external endowments in investment income. This increased revenues by $52.8m in F2022, $209.9m in F2021, and $26.4m in F2020. Ci reported grants, administrative costs, and fundraising costs from the charity’s T3010 filings with the CRA. Ci removed amortization on a pro-rata basis from program, administrative, and fundraising costs.
Salary Information
$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 F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
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