Toronto Metropolitan University
Nonprofit profile at a glance
- EIN
- 981651870
- IRS 990 coverage
- 2022–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Toronto, ON, CA
- Phone
- 4169795019
- Rating
- 73
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- University or Technological Institute
Reported finances
- Revenue
- $785,138,261
- Expenses
- $770,359,992
- Assets
- $1,791,670,010
- Liabilities
- $903,743,417
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
30 people listed
Executive titles in this filing
- Mohamed Lachemi (President)
Highest reported compensation
- Mohamed Lachemi (President): $318,993 total reported compensation
- Teresa Chan (Dean, S of Med and VP Med Aff): $272,662 total reported compensation
- Roberta Iannacito-Provenzano (Provost & VP, Acad): $266,922 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 advancement of applied knowledge and research to address societal needs, and the provision of programs of study with a balance between theory and application that prepares students for careers in professional and quasi-professional fields. Next Chapter Responding to the 22 recommendations of the Standing Strong Task Force. Visits and tours. Christie also developed TMU’s event risk management structure and introduced a university-wide event assessment and briefing process to improve coordination across departments. Monthly briefings he put in place now support data-informed decisions across the security portfolio. As he prepares for retirement, Christie credits his long tenure to the university’s culture. “I think the biggest thing I’ll leave behind is a really cohesive unit that understands how to work together, share information and support each other,” he says.
What it reported doing in 2024
Toronto Metropolitan University (TMU) is a leading institution of innovation and entrepreneurship that responds to societal needs through high-quality, professional, and career-related bachelor, master's, and doctoral programs, and relevant scholarly, research, and creative activities. In 2024-25, it awarded 8,111 bachelor's degrees, 156 law degrees, 1,121 master's degrees, 91 professional master's diplomas, and 93 doctoral degrees. Overall student enrolment in the 2024-25 academic year was 47,310 (41,558 FTE) and the university achieved over CAD$131.4 million in research funding.
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 100% 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.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and the filing reports few safeguards for money sent abroad.
Rating breakdown
- Financial Efficiency: 92
- Transparency & Controls: 60
- Accountability: 64
- Sustainability: 54
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 93.5%; rating input score 93
- Program expense ratio: 94.5%; rating input score 94
- Fundraising efficiency: $74.58 raised per $1 spent on fundraising; rating input score 81; 81st percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Scored; rating input score 0
Accountability
- Independent voting board: 37.9%; rating input score 38; 11th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- 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: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 1.9%; rating input score 42; 42nd percentile among comparable filings
- Total-asset coverage ratio: 2.33; rating input score 68; 68th percentile among comparable filings
- Liabilities to assets ratio: 0.5; rating input score 36; 36th percentile among comparable filings
- Officer compensation ratio: 0.5%; rating input score 85; 85th percentile among comparable filings
Growth
- Program expense growth: -0.7% per year; rating input score 0; 6th percentile among comparable filings
- Revenue growth: 1.5% per year; rating input score 100; 11th percentile among comparable filings
- Asset growth: 0.5% per year; rating input score 100; 8th percentile among comparable filings
Details
- What they do: 3 programs and campaigns described on the official site
- Where the money goes: 93.5% of revenue deployed · 94.5% of spending went to programs
- Governance: 11 of 29 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $728M in reported program spending
- Leadership: top reported pay $319K · 30 people listed · 1 of 6 pay-setting controls reported
- Highest-paid contractors: 5 contractors listed · $1.9M reported
- Consistency: 29 of 29 current checks pass
- Schedules: 9 filed schedules · includes foreign activity, grants, executive pay, and related organizations
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: 19 filed money-flow records
- 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.
- Moderate — Accountability: Independent voting board scored 38/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Growth: Program expense growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 42/100.
- High — Transparency & Controls: Related-party transparency scored 0/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 36/100.