McGill 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.
64%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 64 cents are available for programs.
My anchor
OVERVIEW
About McGill University:
Founded in 1821, McGill University (McGill) is a public university in Montreal, named after fur trader James McGill for his donation of a 46-acre estate to build the school’s campus. Today, McGill University spans three campuses: a downtown Montreal campus, a Macdonald campus, and the Gault Nature Reserve for wildlife research. McGill has more than 80 departments, which offer over 300 undergraduate and 400 graduate programs of study. McGill’s main programs are education and research, for which it does not provide a spending breakdown.
In fall 2020, McGill University had 39,736 enrolled students. This included 27,484 undergraduate students, 10,265 graduate and PhD students, 1,349 residents and fellows, and 638 postdoctoral scholars. McGill reports that around 47% of its students are from Quebec, 23% are from the rest of Canada, and 30% are from outside Canada. It states that 11% of its students are currently pursuing PhDs as part of their graduate studies, compared to 7% of students at other Canadian research universities.
McGill reported 1,730 tenured and tenure-stream faculty members in F2020. During the year, McGill signed 198 government and industry-sponsored research contracts, valued at around $20m. It also signed 26 new clinical trial agreements in F2020. Currently, McGill is home to 174 Canada Research Chairs.
My anchor
Results and Impact
According to the 2021 Maclean’s University Rankings, McGill University is the top medical-doctoral university in Canada. McGill has retained this ranking for 16 consecutive years. In 2021, McGill also ranked 36th in the QS World University Rankings and 40th in the Times Higher Education World University Rankings.
While Ci highlights these key results, they may not be a complete representation of McGill University’s results and impact. This charity is not yet rated on impact (n/r).
My anchor
Finances
McGill University is a Major 100 charity, one of Canada’s largest charities in terms of donations. It received cash donations of $156.3m in F2020. During the year, McGill also received $731.1m in government funding (55% of revenues) and $380.9m in tuition and contract fees (29% of revenues).
Administrative costs are 23% of revenues (less investment income) and fundraising costs are 14% of donations. This results in total overhead spending of 36%. For every dollar donated to the charity, 64 cents go to the cause. This is just outside of Ci’s reasonable range for overhead spending. McGill was previously within this reasonable range in F2019. Its fundraising ratio rose in F2020 due to a 12% drop in donations and a 6% increase in fundraising costs.
McGill has $498.7m in net funding reserves ($1.8 billion in liquid assets less $1.3 billion in interest-bearing debts). Its liquid assets also include $1.5 billion in donor-endowed funds, resulting in a negative net program cost coverage ratio. McGill’s gross funding reserves, excluding donor-endowed funds, can cover 31% or less than four months of annual program costs.
Charity Intelligence has sent this update to McGill University for review. Changes and edits may be forthcoming.
Updated on August 30, 2021 by Eric Zhao.
Financial Review
Fiscal year ending April
|
2020 | 2019 | 2018 |
---|---|---|---|
Administrative costs as % of revenues | 22.7% | 22.7% | 24.0% |
Fundraising costs as % of donations | 13.8% | 11.3% | 14.6% |
Total overhead spending | 36.4% | 34.0% | 38.6% |
Program cost coverage (%) | (123.4%) | (119.2%) | (119.4%) |
Summary Financial StatementsAll figures in $000s |
2020 | 2019 | 2018 |
---|---|---|---|
Donations | 156,295 | 178,015 | 130,883 |
International donations | 7,236 | 4,797 | 6,100 |
Goods in kind | 700 | 1,500 | 500 |
Government funding | 731,128 | 682,203 | 636,215 |
Fees for service | 380,930 | 363,777 | 335,937 |
Business activities (net) | 119,455 | 134,915 | 132,227 |
Investment income | (59,225) | 78,441 | 65,651 |
Total revenues | 1,336,519 | 1,443,648 | 1,307,513 |
Program costs | 861,842 | 841,078 | 806,894 |
Grants | 45,091 | 47,622 | 42,571 |
Administrative costs | 316,307 | 309,772 | 297,700 |
Fundraising costs | 21,495 | 20,187 | 19,097 |
Other costs | 40,766 | 37,675 | 36,240 |
Total spending | 1,285,501 | 1,256,334 | 1,202,502 |
Cash flow from operations | 51,018 | 187,314 | 105,011 |
Capital spending | 223,247 | 239,074 | 249,901 |
Funding reserves | 498,701 | 647,209 | 645,568 |
Note: Ci included endowment contributions in donations and investment gains (losses) from endowments in investment income. This affected revenues by ($88.6m) in F2020, $44.8m in F2019, and $406k in F2018. Ci removed gifts in kind included in donations to report them separately. Ci reported sales of goods and services net of costs in business activities, affecting revenues and expenses by ($15.6m) in F2020, ($19.7m) in F2019, and ($19.1m) in F2018. Ci gathered fundraising costs from the charity’s T3010 filings with the CRA and removed the amounts from program costs. Ci excluded amortization expenses.
Salary Information
$350k + |
6 |
$300k - $350k |
4 |
$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 F2020
My anchor
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: 514-398-4455