Southern Alberta Institute of Technology
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔
FINANCIAL TRANSPARENCY
Most recent Audited financial statements available on the charity’s website.
B+
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 Southern Alberta Institute of Technology:
Southern Alberta Institute of Technology is a 4-star charity. It has an above-average results reporting grade and is financially transparent. Its overhead costs are within Ci’s reasonable range. Its reserve funds can cover program costs for around eight months.
Founded in 1916, Southern Alberta Institute of Technology (SAIT) aims to be a global leader in applied education. Located in Calgary, Alberta, SAIT has career programs, continuing education courses, and corporate training courses. SAIT offers programs to students in eight schools– Business; Construction; Energy; Health and Public Safety; Hospitality and Tourism; Advanced Digital Technology; Manufacturing and Automation; Transportation.
In F2023, Southern Alberta Institute of Technology reported having a total enrolment of 15,622 full-time learning equivalents. Of these, 11,560 are domestic, and 4,062 are international. SAIT offered 28 apprentice programs and 5,157 apprentices were enrolled in F2023. It also held 575 continuing education and corporate training courses to 15,329 students.
SAIT has 77,000 square feet of specialized research labs. The university has four research centres, and in F2023 it received 47 grants from government and other sources.
Southern Alberta Institute of Technology was rated one of the top 10 research colleges in Canada in F2023 by Research Infosource Inc.
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Results and Impact
In a 2023 employer satisfaction survey, Southern Alberta Institute of Technology reports that 90% of employers are satisfied with the quality of SAIT graduates, and 90% of employers agree that SAIT provides graduates with appropriate skills.
In a 2023 graduate survey, SAIT reports that 91% would recommend SAIT, 89% were satisfied with overall quality of teaching, and 91% were satisfied with the overall quality of their educational experience.
Additionally, Southern Alberta Institute of Technology reports that in F2023 its graduates had a 91% employment rate, with 83% being employed in a field relating to their degrees.
While Ci highlights these key results, they may not be a complete representation of Southern Alberta Institute of Technology’s results and impact.
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Finances
Southern Alberta Institute of Technology received total donations of $10.3m in F2023. It also received $247.2m in student fees and tuition (53% of revenues) and $157.9m in government funding (33% of revenues).
Administrative costs are 5% of revenues (excluding investment income) and fundraising costs are 18% of donations. This results in a total overhead spending of 23%. For every dollar donated, 77 cents are available for programs. This is within Ci’s reasonable range for overhead spending.
In F2023 SAIT spent $306.2m on its programs, which is 65% of total revenues. The charity had a surplus of $140.3m (30% of revenues), and no capital expenditures.
SAIT has net reserve funds of $261.1m ($364.6m in cash and investments less $103.5m in interest-bearing debts). In these reserve funds, $58.0m are endowed by donors. Excluding donor-endowed funds, SAIT can cover annual program costs for eight months.
This charity report is an update that has been sent to Southern Alberta Institute of Technology for review. Changes and edits may be forthcoming.
Updated on June 13, 2024 by Alessandra Castino.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 5.2% | 6.4% | 14.4% |
| Fundraising costs as % of donations | 18.0% | 13.5% | 3.5% |
| Total overhead spending | 23.2% | 19.9% | 17.9% |
| Program cost coverage (%) | 67.0% | 61.7% | 61.6% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 10,347 | 9,578 | 28,613 |
| Goods in kind | 782 | 174 | 0 |
| Government funding | 157,877 | 161,564 | 138,693 |
| Fees for service | 247,157 | 133,986 | 85,826 |
| Business activities (net) | 24,827 | 20,289 | 11,716 |
| Investment income | 8,128 | 7,409 | 4,128 |
| Other income | 23,542 | 6,713 | 0 |
| Total revenues | 472,660 | 339,713 | 268,976 |
| Program costs | 306,172 | 267,938 | 154,094 |
| Administrative costs | 24,327 | 21,417 | 38,235 |
| Fundraising costs | 1,863 | 1,292 | 1,004 |
| Total spending | 332,362 | 290,647 | 193,333 |
| Cash flow from operations | 140,298 | 49,066 | 75,643 |
| Capital spending | 0 | 0 | 18,322 |
| Funding reserves | 261,106 | 222,729 | 153,887 |
Note: FISCAL YEAR END: In F2021, SAIT changed its fiscal year end from June to March. The available data for F2021 represents only a nine-month period ending on March 31, 2021. As a result, F2021 figures are not comparable. DEFERRED TUITION FEES: Ci adjusted for deferred tuition fees, affecting total revenues by $82.8m in F2023, $7.1m in F2022, and $11.5m in F2021. DEFERRED REVENUE: Ci adjusted for deferred revenue, affecting other revenue by $23.5m in F2023, $6.7m in F2022, and $8.8m in F2021. Ci included this in other revenue as the audited financial statements do not separate government and non-government deferred revenues. CAPITAL CONTRIBUTIONS: Ci removed expended capital contributions recognized as revenue, decreasing total revenues by $22.6m in F2023, $25.7m in F2022, and $18.8m in F2021. ENDOWMENT: Ci included endowment contributions, increasing donations by $1.4m in F2023, $1.2m in F2022, and $2.0m in F2021. Ci included endowment investment income, affecting investment income by $1.6m in F2022. GIFTS IN KIND: Ci included the gifts in kind as showcased in Note 13, increasing total revenues by $782k in F2023, $174k in F2022, and $901k in F2021. ACTIVITY-BASED COSTING: Ci reported fundraising costs from the charity’s T3010 filing with the CRA. AMORTIZATION: Ci removed amortization from program, administrative, and fundraising costs on a pro-rata basis.
Salary Information
$350k + |
1 |
$300k - $350k |
3 |
$250k - $300k |
5 |
$200k - $250k |
1 |
$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:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 403-284-7248