GOVERNING COUNCIL OF THE UNIVERSITY OF TORONTO

EIN: 986001141 501(c)(3)
Total Revenue
$3,486,918,000
Total Expenses
$3,115,293,000
Total Assets
$11,185,048,000
Net Assets
$7,627,373,000
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1827
Principal Officer
Sanish Samuel
Phone
4169782802
Tax Period
2024-05-01 to 2025-04-30

GOVERNING COUNCIL OF THE UNIVERSITY OF TORONTO, founded in 1827, is a large national nonprofit that reported $3.5B in total revenue in fiscal year 2024. Expenses of $3.1B left a modest 11% surplus.

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,055,415,000
Program Service Revenue $1,825,434,000
Investment Income $422,879,000
Other Revenue $183,190,000
TOTAL REVENUE $3,486,918,000

Expense Breakdown

Grants Paid $366,848,000
Salaries & Benefits $1,849,905,000
Fundraising Expenses $40,750,000
Program Expenses $2,951,880,000
Other Expenses $898,540,000
TOTAL EXPENSES $3,115,293,000

Year-over-Year Comparison

2024 2023 Change
Revenue $3,486,918,000 $3,393,422,000 +0.0%
Expenses $3,115,293,000 $3,022,353,000 +0.0%
Net Income $371,625,000 $371,069,000 +0.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
49
Independent Members
32
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
13
$3,811,390
Total Directors
49
$3,155,192
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Alan Aspuru-Guzik Professor of Chemistry and Computer Science 36.25
Highest
$507,085 $0 $507,085
Meric Gertler Ex Officio, President, University of Toronto 36.25
Officer Director
$454,771 $0 $454,771
David Goldreich Professor of Finance 36.25
Highest
$397,088 $0 $397,088
Mikhail Simutin Associate Professor of Finance 36.25
Highest
$394,656 $0 $394,656
Brian Golden Professor of Strategic Management 36.25
Highest
$376,603 $0 $376,603
William Strange Professor of Economic Analysis and Policy 36.25
Highest
$375,892 $0 $375,892
Susan Christoffersen Professor of Finance 36.25
$370,311 $0 $370,311
Brian Silverman Professor of Strategic Management 36.25
$369,438 $0 $369,438
Wei-Yi Scott Liao Professor of Accounting 36.25
$368,459 $0 $368,459
Mihnea Moldoveanu Professor of Economic Analysis and Policy 36.25
$363,806 $0 $363,806
Alexander Dyck Professor of Finance 36.25
$363,580 $0 $363,580
Glen Whyte Professor of Organizational Behaviour and Human Resource Management 36.25
$361,122 $0 $361,122
Craig Andrew Doidge Professor of Finance 36.25
$359,798 $0 $359,798
David Palmer Vice-President Advancement 36.25
Officer
$358,110 $0 $358,110
Lionel Trevor Young Presidential Appointee, Professor, Psychiatry and Dean, Temerty Faculty of Medicine 36.25
Officer Director
$357,585 $0 $357,585
John Hull Professor of Finance 36.25
$355,085 $0 $355,085
Joel Baum Professor of Strategic Management 36.25
$347,150 $0 $347,150
Cheryl Regehr Professor, Factor-Inwentash Faculty of Social Work 36.25
$346,957 $0 $346,957
Leah Cowen Vice-President, Research and Innovation, and Strategic Initiatives; Professor, Molecular Genetics 36.25
Officer
$324,573 $0 $324,573
Scott Mabury Vice-President, Operations and Real Estate Partnerships; Professor of Environmental Chemistry 36.25
Officer
$320,996 $0 $320,996
Kelly Hannah-Moffat Vice-President, People Strategy, Equity and Culture; Professor Criminology and Sociolegal Studies 36.25
Officer
$320,904 $0 $320,904
Jan Mahrt-Smith Associate Professor of Finance 36.25
$317,769 $0 $317,769
Joseph Wong Vice-President, International; Professor, Political Science 36.25
Officer
$277,920 $0 $277,920
Alexandra Gillespie Vice-President; Principal, University of Toronto Mississauga; Professor, Dep of English and Drama 36.25
Officer
$261,323 $0 $261,323
Wisdom Tettey Professor of Political Science 36.25
$254,314 $0 $254,314
Christine Szustaczek Vice-President, Communications 36.25
Officer
$252,774 $0 $252,774
Trevor Rodgers Chief Financial Officer 36.25
Officer
$248,416 $0 $248,416
Linda Johnston Presidential Appointee, Vice-President, Research and Innovation; Professor, Molecular Genetics 36.25
Officer Director
$246,127 $0 $246,127
Mark Lautens Professor of Chemistry, Astra Zeneca Chair in Organic Synthesis, Chair in Chemsitry 36.25
Director
$240,839 $0 $240,839
Avrum Gotlieb Professor, Laboratory Medicine and Pathobiology 36.25
$239,553 $0 $239,553
Alex Mihailidis Associate Vice President, International Partnerships, Assoc Prof, Occupational Science and Therapy 36.25
$236,049 $0 $236,049
Ramy Elitzur Professor of Accounting 36.25
Director
$231,243 $0 $231,243
Roselle Drummond Secretary of the Governing Council 36.25
Officer
$230,450 $0 $230,450
Ron Levi Professor Global Affairs and Sociology, Associate Director Munk School, Special Advisor 36.25
Director
$213,282 $0 $213,282
David Zingg Professor of Aerospace Studies 36.25
Director
$209,369 $0 $209,369
Shashi Kant Professor, Institute for Management and Innovation 36.25
$191,051 $0 $191,051
Donald Ainslie Professor of Philosophy 36.25
Director
$182,664 $0 $182,664
Nicholas Terpstra Professor of History and Interim Chair of Italian Studies 36.25
$179,710 $0 $179,710
Douglas McDougall Professor of Education 36.25
Director
$178,548 $0 $178,548
Stark Draper Professor of Electrical and Computer Engineering and Vice-Dean, Research 36.25
$175,478 $0 $175,478
Ernest Lam Professor of Dentistry and Associate Dean Graduate Education 36.25
$162,559 $0 $162,559
Vina Goghari Professor of Psychology and Vice-Dean, Research and Program Innovation 36.25
$158,570 $0 $158,570
Rhonda Mcewen Professor, Institute of Communication, Culture, Information and Technology, President, Victoria Univ 36.25
Officer
$157,441 $0 $157,441
Nhung Tran Associate Professor of History 36.25
$150,619 $0 $150,619
Paul Kingston Professor of Political Science 36.25
$146,140 $0 $146,140
Laurent Bozec Professor of Dentistry 36.25
Director
$142,297 $0 $142,297
Andrew Petersen Professor, Teaching Stream, Department of Mathematical and Computational Sciences 36.25
Director
$137,397 $0 $137,397
Aarthi Ashok Professor, Teaching Stream of Biological Sciences 36.25
Director
$132,104 $0 $132,104
Vikram Chadalawada Director, Student Life Information Technology Strategy, Innovations, and Digital Transformation 36.25
Director
$128,693 $0 $128,693
Sotirios Damouras Professor, Teaching Stream of Computer and Mathematical Sciences 36.25
$115,272 $0 $115,272
Sarosh Jamal Development and Operations Administrator 36.25
Director
$106,863 $0 $106,863
Glen Bandiera Associate Dean, PGME 36.25
Director
$64,470 $0 $64,470
K Sonu Gaind Clincian Teacher 36.25
Director
$64,470 $0 $64,470
Audrey Karlinsky Clincian Teacher 36.25
Director
$64,470 $0 $64,470
Sharleen Ahmed Government Appointee 1
Director
$0 $0 $0
Janet Cloud Government Appointee 1
Director
$0 $0 $0
Robert Cooper Government Appointee 1
Director
$0 $0 $0
Ann Curran Government Appointee 1
Director
$0 $0 $0
Samuel Elfassy Government Appointee 1
Director
$0 $0 $0
Sandra Hanington Government Appointee, Vice-Chair 1
Director
$0 $0 $0
Maureen Harquail Government Appointee 1
Director
$0 $0 $0
Thomas Hofmann Government Appointee 1
Director
$0 $0 $0
David Jacobs Government Appointee, Chair 1
Director
$0 $0 $0
Anna Kennedy Government Appointee 1
Director
$0 $0 $0
Kikelomo Lawal Government Appointee 1
Director
$0 $0 $0
Rajiv Mathur Government Appointee 1
Director
$0 $0 $0
Joanne McNamara Government Appointee 1
Director
$0 $0 $0
Danielle Skipp Government Appointee 1
Director
$0 $0 $0
Mary-Agnes Wilson Government Appointee 1
Director
$0 $0 $0
Wesley Hall Ex Officio, Chancellor 1
Director
$0 $0 $0
Amanda Bartley Alumni 1
Director
$0 $0 $0
Mathangi Gopinathan Alumni 1
Director
$0 $0 $0
Paul Huyer Alumni 1
Director
$0 $0 $0
Richard MacKendrick Alumni 1
Director
$0 $0 $0
Brian Madden Alumni 1
Director
$0 $0 $0
Eha Naylor Alumni 1
Director
$0 $0 $0
Grace Westcott Alumni 1
Director
$0 $0 $0
Geeta Yadav Alumni 1
Director
$0 $0 $0
Luca Calabretta Undergraduate Student 1
Director
$0 $0 $0
Liam Dravid Undergraduate Student 1
Director
$0 $0 $0
Ankita Goyat Undergraduate Student 1
Director
$0 $0 $0
Cameron Miranda-Radbord Undergraduate Student 1
Director
$0 $0 $0
Jovan Bursac Graduate Student 1
Director
$0 $0 $0
William Verreault Graduate Student 1
Director
$0 $0 $0
Akina Lalla Part-Time Undergraduate Student 1
Director
$0 $0 $0
Maya Povhe Part-Time Undergraduate Student 1
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $3,486,918,000 $3,115,293,000 $11,185,048,000 $371,625,000
2024 $3,393,422,000 $3,022,353,000 $10,772,193,000 $371,069,000
2023 $3,214,233,000 $2,799,769,000 $10,285,716,000 $414,464,000
2022 $3,050,426,000 $2,719,216,000 $10,461,501,000 $331,210,000
2021 $3,059,060,000 $2,503,934,000 $9,472,643,000 $555,126,000
2020 $2,719,637,000 $2,388,578,000 $8,045,063,000 $331,059,000
2019 $2,730,190,000 $2,346,611,000 $7,898,729,000 $383,579,000
2018 $2,635,200,000 $2,272,601,000 $7,716,936,000 $362,599,000