McMaster 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.
91%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 91 cents are available for programs.
My anchor
OVERVIEW
About McMaster University:
McMaster University is a 5-star charity. It has an A- results reporting score, which is above average. Its overhead spending is within Ci’s reasonable range and it is fully financially transparent.
Founded in 1887, McMaster University is a public university in Hamilton, Ontario. It is a research-intensive university with six faculties: business, engineering, health sciences, humanities, science, and social sciences. McMaster’s main programs are education and research. It does not provide a spending breakdown for these programs.
A Charity Intelligence 2023 Top 100 Rated Charity
Education: In the fiscal year ending April 2023 (F2023), McMaster had 37,537 students. 32,174 (86%) were undergraduate students and 5,363 (14%) were graduate students. McMaster had 1,036 full-time faculty and 16,043 total staff in F2023. McMaster ranked 85th in the 2023 Times Higher Education World University Ranking.
Research: McMaster has 60 research centres and institutes. In F2023, McMaster had 86 Canada Research Chairs and two Ontario Research Chairs. Clarivite Analytics’ 2022 list of the World’s Most Highly Cited Researchers featured 16 McMaster researchers. McMaster states that it ranks second in Canada for faculty research intensity. In F2023, McMaster provided $419k per faculty member and $74k per graduate student for research.
My anchor
Results and Impact
In 2022, McMaster awarded 8,087 degrees. The six-year graduation rate for the 2014-2016 cohorts was 82%. McMaster reports that 2017 graduates had an employment rate of 91% six months after graduation and an employment rate of 96% two years after graduation.
KPMG Management Consulting conducted an economic impact survey of McMaster University. It determined that McMaster’s annual economic impact is $9.2b. KPMG reported that McMaster has a $3.87b impact on Hamilton’s GDP. KPMG also reported that every dollar invested in McMaster returns nearly eight dollars to the economy.
While Ci highlights these key results, they may not be a complete representation of McMaster University’s results and impact.
This charity is not yet rated on impact (n/r).
My anchor
Finances
McMaster University is a Major 100 charity, one of Canada’s largest charities in terms of donations. In F2023, McMaster University received $84.8m in donations. It also received $519.6m in government funding (34% of total revenue) and $592.2m in tuition and other fees (39% of total revenue). McMaster made $140.5m in investment income in F2023 (9% of total revenue). Administrative costs are 2% of revenue (less investment income) and fundraising costs are 8% of donations. Overhead spending is 9%, which is within Ci’s reasonable range. For every dollar donated, 91 cents are available for the cause.
In F2023 McMaster University had a surplus of $363.9m and spent $179.6m on capital expenditures.
At the end of F2023, McMaster University had $1.8b in reserve funds. $589.4m of reserve funds were donor endowed. Excluding donor-endowed funds, McMaster’s reserve funds could cover 113% or a year and 1 month of its annual program costs.
This charity profile is an update that was sent to McMaster University for review. Changes and edits may be forthcoming.
Profile created on June 17, 2024 by Thea Clark
Financial Review
Fiscal year ending April
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 1.7% | 2.2% | 2.6% |
| Fundraising costs as % of donations | 7.5% | 4.6% | 9.0% |
| Total overhead spending | 9.2% | 6.8% | 11.6% |
| Program cost coverage (%) | 113.0% | 113.2% | 121.1% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 84,786 | 120,996 | 55,851 |
| Government funding | 519,601 | 450,641 | 466,737 |
| Fees for service | 592,183 | 567,387 | 529,597 |
| Business activities (net) | 86,101 | 64,718 | 17,767 |
| Investment income | 140,474 | (66,777) | 315,722 |
| Other income | 107,437 | 70,220 | 98,725 |
| Total revenues | 1,530,582 | 1,207,185 | 1,484,399 |
| Program costs | 1,118,787 | 1,006,056 | 937,951 |
| Administrative costs | 23,351 | 28,400 | 29,878 |
| Fundraising costs | 6,364 | 5,514 | 5,025 |
| Other costs | 18,185 | 17,392 | 13,211 |
| Total spending | 1,166,687 | 1,057,362 | 986,065 |
| Cash flow from operations | 363,895 | 149,823 | 498,334 |
| Capital spending | 179,573 | 131,926 | 105,608 |
| Funding reserves | 1,820,226 | 1,656,235 | 1,684,823 |
Note: GOVERNMENT FUNDING: Ci reported government funding from the charity’s T3010 filing with the CRA and removed these amounts from donations. DEFERRED REVENUE: McMaster University uses deferred accounting. To show donors this information on a consistent basis, Ci adjusted for deferred revenues and deferred capital contributions. This affected revenue by $61k in F2023, $25k in F2022, and $60k in F2021. ENDOWMENT CONTRIBUTIONS: Ci included external endowment contributions in donations, affecting revenue by $33k in F2023, $21k in F2022, and $11k in F2021. ENDOWMENT INVESTMENT INCOME: Ci included external endowment investment income (loss) in investment income, affecting revenue by $32k in F2023, ($36k) in F2022, and $116k in F2021. LINE-ITEM COSTING: McMaster University uses line-item costing and does not report administrative and fundraising costs in its audited financial statements. Ci reported administrative and fundraising costs from McMaster’s T3010 filings with the CRA and removed these amounts from program costs. AMORTIZATION: Ci removed amortization from program, administrative, and fundraising costs on a pro-rata basis.
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 F2023
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: 905-525-9140