University Of Ontario Institute Of Technology
- Assets
- $395.0m
- Revenue
- $178.0m
- Investments
- $24.0m
- Employees
- 2,038
- Location
- Founding
- 11/2016
- Data as of
- 03/2023
- EIN
- 98-1263645
Organization Overview
University Of Ontario Institute Of Technology is located in null. The organization was established in 2016. According to its NTEE Classification (B43) the organization is classified as: Universities, under the broad grouping of Education and related organizations. As of 03/2023, University Of Ontario Institute Of Technology employed 2,038 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Of Ontario Institute Of Technology is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 03/2023, University Of Ontario Institute Of Technology generated $178.0m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $176.8m during the year ending 03/2023. While expenses have increased by 3.8% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE UNIVERSITY IS A MARKET-ORIENTED UNIVERSITY INTEGRATING INQUIRY, DISCOVERY, AND APPLICATION THROUGH EXCELLENCE IN TEACHING, LEARNING, AND VALUE-ADDED RESEARCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATION: THE UNIVERSITY WAS INCORPORATED WITHOUT SHARE CAPITAL UNDER THE UNIVERSITY OF ONTARIO INSTITUTE OF TECHNOLOGY ACT, WHICH RECEIVED ROYAL ASSENT ON JUNE 27, 2002. ITS PRIMARY MISSION IS TO DEVELOP RESEARCH AND OFFER GRADUATE AND UNDERGRADUATE EDUCATION. THERE ARE 7 FACULTIES SINCE INCEPTION OF THE UNIVERSITY NAMELY FACULTY OF BUSINESS AND INFORMATION TECHNOLOGY, FACULTY OF EDUCATION, FACULTY OF ENERGY SYSTEMS AND NUCLEAR SCIENCE, FACULTY OF ENGINEERING AND APPLIED SCIENCE, FACULTY OF SCIENCE, FACULTY OF HEALTH SCIENCES, AND FACULTY OF SOCIAL SCIENCE AND HUMANITIES. THE TOTAL STUDENT HEADCOUNT IN THE FISCAL YEAR ENDING MARCH 31, 2023 IS 11,054 (OR 9,555 FTE). THE LARGEST FACULTY IS THE FACULTY OF ENGINEERING AND APPLIED SCIENCE.
RESEARCH: TECHNOLOGY-DRIVEN RESEARCH PLAYS A KEY ROLE ON CAMPUS. ONTARIO TECH IS COMMITTED TO RECRUITING RESEARCHERS WHO ARE SMART AND FOCUSED, HELPING TO SOLIDIFY ITS REPUTATION FOR CONDUCTING RESEARCH THAT LEADS TO TRANSFORMATIVE CULTURAL, ECONOMIC, AND SCIENTIFIC CHANGES WORLDWIDE. THIS SPIRIT, COMBINED WITH AN UNWAVERING DEDICATION TO INNOVATION AND SCHOLARSHIP, CONTINUES TO PROPEL THE UNIVERSITY'S RESEARCH AGENDA FORWARD.
AUTOMOTIVE CENTRE OF EXCELLENCE: THE AUTOMOTIVE CENTRE OF EXCELLENCE (ACE) IS THE FIRST CLIMATIC TESTING AND RESEARCH CENTRE OF ITS KIND IN CANADA. THIS INTEGRATED RESEARCH AND TRAINING FACILITY SPANS FIVE FLOORS WITH DEDICATED SPACE FOR RESEARCH, EDUCATION, AND TRAINING. THIS FACILITY IS FOSTERING AN ENVIRONMENT FOR COLLABORATION BETWEEN INDUSTRY, RESEARCHERS, AND STUDENTS THAT DRIVES INNOVATIVE AUTOMOTIVE RESEARCH AND ENGINEERING. THE UNIVERSITY OFFERS UNIQUE RESEARCH PROGRAMS THAT ARE FINDING NEW SOLUTIONS TO AUTOMOTIVE PROBLEMS AND EDUCATING FUTURE ENGINEERS TO ADVANCE THE FRONTIERS OF RESEARCH AND TRANSFORM THE AUTOMOTIVE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Murphy President & Vice Chancellor | OfficerTrustee | 36 | $253,864 |
Susan Mcgovern VP Ext Affairs (thru 4/22), Governor | OfficerTrustee | 36 | $208,803 |
Eric Agius Governor | Trustee | 1 | $0 |
Ahmad Barari Governor | Trustee | 1 | $0 |
Carla Carmichael Governor | Trustee | 1 | $0 |
Kevin Chan Governor | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
1568796 Ontario Inc Construction Services | 3/30/23 | $1,597,890 |
Durham College Student, It & Finance Services | 3/30/23 | $11,113,568 |
Gdi Services (Canada) Lp Cleaning Services | 3/30/23 | $1,240,719 |
Carnevale Law Office Legal Services | 3/30/23 | $1,074,761 |
Marek Hospitality Inc Food Services | 3/30/23 | $466,692 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $41,276 |
| Related organizations | $0 |
| Government grants | $70,087,188 |
| All other contributions, gifts, grants, and similar amounts not included above | $12,451,006 |
| Noncash contributions included in lines 1a–1f | $5,206,426 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $82,579,470 |
| Total Program Service Revenue | $85,649,611 |
| Investment income | $2,847,066 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $988 |
| Net Gain/Loss on Asset Sales | -$1,549,338 |
| Net Income from Fundraising Events | $1,120 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $178,021,698 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $12,327,431 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,523,293 |
| Compensation of current officers, directors, key employees. | $3,523,293 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $80,003,746 |
| Pension plan accruals and contributions | $6,112,285 |
| Other employee benefits | $4,059,467 |
| Payroll taxes | $5,779,081 |
| Fees for services: Management | $411,873 |
| Fees for services: Legal | $488,698 |
| Fees for services: Accounting | $1,435,585 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,371,144 |
| Office expenses | $4,633,543 |
| Information technology | $6,157,224 |
| Royalties | $0 |
| Occupancy | $10,445,796 |
| Travel | $1,806,197 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $555,029 |
| Interest | $9,956,610 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $16,954,267 |
| Insurance | $515,261 |
| All other expenses | $610,571 |
| Total functional expenses | $176,759,308 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $58,353,408 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $6,868,296 |
| Accounts receivable, net | $6,374,410 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $24,944 |
| Prepaid expenses and deferred charges | $1,985,600 |
| Net Land, buildings, and equipment | $294,502,464 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $23,981,629 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,920,204 |
| Total assets | $395,010,955 |
| Accounts payable and accrued expenses | $22,172,658 |
| Grants payable | $0 |
| Deferred revenue | $26,125,367 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $117,433,295 |
| Unsecured mortgages and notes payable | $302,250 |
| Other liabilities | $135,830,140 |
| Total liabilities | $301,863,710 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $93,147,245 |
| Total liabilities and net assets/fund balances | $395,010,955 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|