67 Yonge Street, Suite 300
Toronto, ON M5E 1J8
President & CEO: William Robson
Board Chair: Hugh MacKinnon

Charitable Reg. #:11884 1626 RR0001


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

[Charity Rating: 3/5]



Audited financial statements for current and previous years available on the charity’s website.



Grade based on the charity's public reporting of the work it does and the results it achieves.



The demonstrated impact per dollar Ci calculates from available program information.


Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.



For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 100 cents are available for programs.

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About CD Howe Institute:

Founded in 1958, CD Howe Institute (CDHI) is an independent research institute and public policy think tank. CD Howe aims to raise living standards by creating stable economic public policies. CDHI addresses 4 key policy challenges: stronger economic growth, financial stability, better opportunities for individuals, and more effective economic and social policy institutions. The charity does not provide a breakdown of its spending on its programs. CDHI has more than 300 experts and researchers who produce over 60 research reports every year.
CDHI organized 65 policy events and produced 88 research and council reports in F2020. The reports covered a variety of topics including Human Capital Policy (9), Fiscal and Tax Policy (8), Financial Services and Regulation (8), Monetary Policy (7), and Retirement Savings and Income (6) and others. The institute also gave 66 policy outreach presentations and held 16 policy meetings in F2020.
In F2020, CDHI launched the Fiscal and Tax Working Group, which focused on how to pay for the rising fiscal cost as a result of covid-19. The charity also released a compilation book of its policy recommendations in response to covid-19.

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Results and Impact

CD Howe Institute’s research was cited over 13,000 times in the Canadian media including 287 times in the Globe and Mail in F2020. CD Howe's website received over 620,000 views in F2020. The Charity reports that social media engagement increased 29% on Twitter and 200% on LinkedIn in F2020.

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

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CD Howe Institute has donations and special even revenues of $5.4m in F2020. The charity received $1.2m in government funding, representing 18% of total revenues. The charity did not separate administrative and fundraising costs from its program costs. As a result, Charity Intelligence included all costs into program costs in F2020. This means that CD Howe's reported overhead costs of 0% fall outside of Ci's reasonable range due to non-disclosure. F2019 and F2018 expenses come from the charity's T3010 filing with the CRA, although the F2020 filing was not available at the time of this report.

CD Howe has $11.2m in funding reserves, of which $5.8m is donor endowed. Excluding donor-endowed funds, the charity could cover 100% or one year of annual program costs with current reserves.

This charity report is an update that has been sent to CD Howe Institute for review. Changes and edits may be forthcoming. 

Updated on July 6, 2021 by Brenleigh Jebb.  

Financial Review

Financial Ratios

Fiscal year ending December
Fundraising & admin costs as % of revenues 0.0%15.0%14.4%
Total overhead spending 0.0%15.0%14.4%
Program cost coverage (%) 99.8%78.0%80.9%

Summary Financial Statements

All figures in $000s
Donations 5,1844,3684,645
Government funding 1,242444554
Fees for service 101316
Special events 2381,5231,117
Investment income 303711(70)
Total revenues 6,9777,0586,261
Program costs 5,7405,2264,884
Fundraising & administrative costs 0951912
Total spending 5,7406,1775,796
Cash flow from operations 1,237882465
Capital spending 14496179
Funding reserves 11,2229,6129,202

Note: The charity does not disclose fundraising costs and administrative costs on its audited financial statements. As a result, in F2019 and F2018 Ci reported administrative and fundraising costs from the charity’s T3010 filings with the CRA and removed amortization from program costs to report as other expenses. The charity’s F2020 T3010 filing was not available at the time of this update. Ci reported investment income and unrealized gain from endowment funds affecting revenue by $274k in F2020, $648k in F2019, and ($122k) in F2018. In F2020, Ci did not report loss on disposal of assets as an expense. Ci reported government funding from the charity's T3010 filing and removed it from donations in F2019 and F2018. Ci could not break out changes in government vs. non-government deferred contributions and therefore could not adjust for deferred revenue or deferred capital contributions. Ci has included endowment contributions in donations, increasing revenues by 25K in F2020 and F2019 and 50k in F2018.  

Salary Information

Full-time staff: 35

Avg. compensation: $111,755

Top 10 staff salary range:

$350k +
$300k - $350k
$250k - $300k
$200k - $250k
$160k - $200k
$120k - $160k
$80k - $120k
$40k - $80k
< $40k

Information from most recent CRA Charities Directorate filings for F2019

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

Website: www.cdhowe.org
This email address is being protected from spambots. You need JavaScript enabled to view it.


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Charitable Registration Number: 80340 7956 RR0001