University of Toronto
Legal name: Governing Council of the University of Toronto
Nonprofit profile at a glance
- EIN
- 986001141
- IRS 990 coverage
- 2010–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Toronto, Ontario, CA
- Phone
- 4169782802
- Rating
- 79
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
Reported finances
- Revenue
- $3,486,918,000
- Expenses
- $3,115,293,000
- Assets
- $11,185,048,000
- Liabilities
- $3,557,675,000
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
86 people listed
Executive titles in this filing
- Meric Gertler (Ex Officio, President, University of Toronto)
- David Palmer (Vice-President Advancement)
- Leah Cowen (Vice-President, Research and Innovation, and Strategic Initiatives; Professor, Molecular Genetics)
- Scott Mabury (Vice-President, Operations and Real Estate Partnerships; Professor of Environmental Chemistry)
- Kelly Hannah-Moffat (Vice-President, People Strategy, Equity and Culture; Professor Criminology and Sociolegal Studies)
- Joseph Wong (Vice-President, International; Professor, Political Science)
Highest reported compensation
- Alan Aspuru-Guzik (Professor of Chemistry and Computer Science): $507,085 total reported compensation
- Meric Gertler (Ex Officio, President, University of Toronto): $454,771 total reported compensation
- David Goldreich (Professor of Finance): $397,088 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The University's vision is to be a leader among the world's best public universities in its discovery, preservation and sharing of knowledge through its teaching and research and its commitment to excellence and equity. The Governing Council, established by the University of Toronto Act, 1971, oversees the academic, business and student affairs of the university. Together with the Chancellor, President and senior administration, the Council represents the university’s vision, mission and purpose both locally and globally. Melanie A. Woodin Melanie A. Woodin. Deeply rooted in one of the world’s most diverse city regions, U of T is committed to inclusive excellence — the idea that every member of our community should thrive in an environment of belonging. A welcoming and global community that supports equity, diversity and inclusion (EDI) for all is an essential part of our university....
What it reported doing in 2024
Credit Courses (Total Enrolment 102,431)
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 87% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and liabilities are high compared with assets.
Rating breakdown
- Financial Efficiency: 87
- Transparency & Controls: 67
- Accountability: 75
- Sustainability: 75
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 86.5%; rating input score 87
- Program expense ratio: 94.8%; rating input score 95
- Fundraising efficiency: $25.9 raised per $1 spent on fundraising; rating input score 63; 63rd percentile among comparable filings
Transparency & Controls
- Consistency checks: 93.8%; rating input score 94; 25th percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: 1 of 8 controls in place; rating input score 12
- Claims monitoring procedures: Pass
- Requires narrative reports: Limited
- Conducts field audits: Limited
- May suspend future funding: Limited
- Requires financial reports: Limited
- Conducts site visits: Limited
- Requires grant agreements: Limited
- May require repayment: Limited
- Grant itemization coverage: 97.9%; rating input score 98; 34th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 65.3%; rating input score 65; 18th percentile among comparable filings
- Governance controls: 8 of 9 controls in place; rating input score 89
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 10.7%; rating input score 74; 74th percentile among comparable filings
- Total-asset coverage ratio: 3.59; rating input score 80; 80th percentile among comparable filings
- Liabilities to assets ratio: 0.32; rating input score 54; 54th percentile among comparable filings
- Officer compensation ratio: 0.4%; rating input score 85; 85th percentile among comparable filings
Growth
- Program expense growth: 3.3% per year; rating input score 100; 25th percentile among comparable filings
- Revenue growth: 2.8% per year; rating input score 100; 20th percentile among comparable filings
- Asset growth: 5.3% per year; rating input score 100; 39th percentile among comparable filings
Details
- What they do: 7 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 86.5% of revenue deployed · 94.8% of spending went to programs
- Governance: 32 of 49 board members independent · 8 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $3B in reported program spending
- Leadership: top reported pay $507K · 86 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $182.1M reported
- Consistency: 45 of 46 current checks pass · 1 finding to review
- Schedules: 8 filed schedules · includes foreign activity, grants, and executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 71 filed money-flow records
- Related organizations: 17 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- Review — Sustainability: Liabilities to assets ratio scored 54/100.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.