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.
68%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 68 cents are available for programs.
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Programs
About McGill University:
Founded in 1821, McGill University was named after James McGill, a wealthy fur trader and merchant, who donated a 46-acre estate to establish a college bearing his name. McGill College began holding classes in 1829 in the merchant’s former country house. McGill University has since developed into a public research university with two campuses, 11 faculties, 14 schools, and over 300 programs of study.
McGill has an enrollment of 40,153 students, as reported in the fall of 2019. This includes 27,573 undergraduate students, 10,260 graduate students and 738 postdoctoral scholars, among others. The university reports that 48% of students are from Quebec, 20% of students are from the rest of Canada and 32% are international students. McGill University has produced 145 Rhodes Scholars. Maclean’s reports standout programs as being the civil law/common law dual degree, business analytics, and social entrepreneurship.
McGill reports that it has 1,707 tenured and tenure-stream faculty as well as 147 Canada Research Chairs. In F2019, its research projects received $566.6m in external funding, with 51% coming from the federal government. McGill signed 109 government and industry research contracts in F2019, with a total value of $18m. The university also submitted 62 national and international patent applications in 2018.
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Results and Impact
According to the 2020 Maclean’s University Rankings, McGill University is the top medical-doctoral university in Canada. McGill has retained the ranking for 15 consecutive years. In 2019, McGill was ranked 35th in the world in QS World University Rankings and 42nd in the world in Times Higher Education World University Rankings.
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Finances
McGill University is a Major 100 charity, meaning it is one of Canada’s largest charities in terms of donations. McGill received $179.5m in donations in F2019, up 37% from F2018 ($131.4m). The university also received $349.6m in tuition fees (24% of total revenue) and $701.1 in government grants (49% of total revenue) in F2019.
Administrative costs are 21% of revenues and fundraising costs are 11% of donations. For every dollar donated, 68 cents go the cause. This is within Ci’s reasonable range for overhead spending. Factoring in debt, McGill has total funding reserves of $750.4m with total donor-endowed reserves of $1.6bn, meaning non-donor-endowed reserves are negative, creating a negative program cost coverage ratio. Excluding debt of $1.1m, the charity can cover program costs for 2.8 months with current reserves.
The charity spent $239.1m on capital expenditures in F2019, $249.9m in F2018, and $132.0m in F2017.
This charity report is an update that has been sent to McGill University for review. Changes and edits may be forthcoming.
Updated on June 22, 2020 by Tenzin Shomar.
Financial Review
Fiscal year ending April
|
2019 | 2018 | 2017 |
|---|---|---|---|
| Administrative costs as % of revenues | 21.2% | 22.4% | 20.7% |
| Fundraising costs as % of donations | 11.3% | 14.5% | 12.1% |
| Total overhead spending | 32.5% | 37.0% | 32.8% |
| Program cost coverage (%) | (103.9%) | (104.2%) | (94.5%) |
Summary Financial StatementsAll figures in $000s |
2019 | 2018 | 2017 |
|---|---|---|---|
| Donations | 179,515 | 131,383 | 134,025 |
| Government funding | 701,128 | 658,579 | 641,749 |
| Fees for service | 349,649 | 319,673 | 294,314 |
| Business activities (net) | 134,915 | 132,227 | 125,815 |
| Investment income | 78,073 | 89,177 | 63,591 |
| Total revenues | 1,443,280 | 1,331,039 | 1,259,494 |
| Program costs | 861,265 | 825,991 | 779,121 |
| Grants | 47,622 | 42,571 | 51,222 |
| Administrative costs | 289,585 | 278,603 | 247,629 |
| Fundraising costs | 20,187 | 19,097 | 16,229 |
| Other costs | 37,675 | 36,240 | 35,038 |
| Total spending | 1,256,334 | 1,202,502 | 1,129,239 |
| Cash flow from operations | 186,946 | 128,537 | 130,255 |
| Capital spending | 239,074 | 249,901 | 132,008 |
| Funding reserves | 750,424 | 742,564 | 851,417 |
Note: Ci included donations for endowments in its revenue calculation. McGill does not report administrative and fundraising costs separately on its audited financial statements. Ci took administrative and fundraising costs from the charity’s T3010 filings. Ci reports sales of goods and services net of expenses, reducing both revenues and expenses by $19.7m in F2019, $19.1m in F2018 and $19.4m in F2017.
Salary Information
$350k + |
4 |
$300k - $350k |
4 |
$250k - $300k |
2 |
$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 F2019
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Comments & Contact
Comments added by the Charity:
Charity Contact
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