📊 The Revenue Structure of Canada's Top 17 Universities
| University ▲ | April/May 2023 - March/April 2024 ($Million) | (2019) April/May 2018 - March/April 2019 ($Million) | Number of Students | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Revenue | Student Fees | Grants & Donations | Sales & Other Services | Investment Income | Total Revenue | Student Fees | Grants & Donations | Sales & Other Services | Investment Income | ||
| University of Toronto | $4,640 | $2290 (49%) | $1391 (30%) | $453 (10%) | $506 (11%) | $3,593 | $1728 (48%) | $1298 (36%) | $362 (10%) | $205 (6%) | 100K |
| University of British Columbia | $3,616 | $1031 (29%) | $1934 (53%) | $500 (14%) | $150 (4%) | $2,728 | $815 (30%) | $1408 (52%) | $404 (15%) | $101 (4%) | 71K |
| Université de Montréal | $1,406 | $174 (12%) | $1056 (75%) | $143 (10%) | $33 (2%) | $1,121 | $141 (13%) | $845 (75%) | $117 (10%) | $17 (2%) | 69K |
| York University | $1,333 | $697 (52%) | $448 (34%) | $119 (9%) | $68 (5%) | $1,279 | $694 (54%) | $444 (35%) | $108 (8%) | $33 (3%) | 53K |
| University of Ottawa | $1,486 | $650 (44%) | $675 (45%) | $97 (7%) | $64 (4%) | $1,126 | $439 (39%) | $561 (50%) | $80 (7%) | $47 (4%) | 48K |
| University of Alberta | $1,961 | $468 (24%) | $1111 (57%) | $224 (11%) | $158 (8%) | $1,965 | $353 (18%) | $1303 (66%) | $214 (11%) | $94 (5%) | 46K |
| Western University | $1,618 | $544 (34%) | $585 (36%) | $252 (16%) | $237 (15%) | $1,318 | $461 (35%) | $530 (40%) | $234 (18%) | $93 (7%) | 42K |
| University of Waterloo | $1,365 | $607 (44%) | $526 (39%) | $143 (10%) | $89 (6%) | $1,188 | $516 (43%) | $477 (40%) | $143 (12%) | $53 (4%) | 41K |
| McGill | $1,768 | $412 (23%) | $1074 (61%) | $167 (9%) | $115 (7%) | $1,419 | $350 (25%) | $836 (59%) | $155 (11%) | $78 (6%) | 40K |
| McMaster University | $1,516 | $442 (29%) | $678 (45%) | $263 (17%) | $134 (9%) | $1,193 | $342 (29%) | $574 (48%) | $207 (17%) | $71 (6%) | 38K |
| Simon Fraser University | $975 | $315 (32%) | $572 (59%) | $66 (7%) | $21 (2%) | $781 | $277 (35%) | $416 (53%) | $57 (7%) | $31 (4%) | 37K |
| Queen's University at Kingston | $1,205 | $424 (35%) | $491 (41%) | $148 (12%) | $142 (12%) | $1,070 | $391 (37%) | $475 (44%) | $129 (12%) | $75 (7%) | 31K |
| University of Saskatchewan | $1,313 | $228 (17%) | $858 (65%) | $120 (9%) | $107 (8%) | $1,080 | $158 (15%) | $740 (69%) | $102 (9%) | $80 (7%) | 24K |
| Dalhousie University | $949 | $299 (31%) | $463 (49%) | $122 (13%) | $66 (7%) | $760 | $224 (29%) | $373 (49%) | $132 (17%) | $31 (4%) | 22K |
| University of Victoria | $762 | $185 (24%) | $449 (59%) | $88 (12%) | $40 (5%) | $593 | $166 (28%) | $328 (55%) | $76 (13%) | $22 (4%) | 21K |
| University of Calgary | $1,674 | $399 (24%) | $1042 (62%) | $117 (7%) | $117 (7%) | $1,502 | $243 (16%) | $1069 (71%) | $129 (9%) | $61 (4%) | 37K |
| Concordia University | $795 | $218 (27%) | $480 (60%) | $78 (10%) | $19 (2%) | $629 | $162 (26%) | $377 (60%) | $86 (14%) | $4 (1%) | 50K |
| Average | $1,669 | $552 (33%) | $814 (49%) | $182 (11%) | $122 (7%) | $1,373 | $439 (32%) | $709 (52%) | $161 (12%) | $64 (5%) | |
Their revenues come from four main sources:
- 📌 Grants & Donations (49%)
- 📌 Student Tuition (33%)
- 📌 Sales & Services (11%)
- 📌 Investments (7%)
🏛 Grants & Donations
- 🔹 Breakdown: Usually provincial grants are the largest component, followed by federal grants and donations.
- 🔹 Covers 30% (University of Toronto) to 75% (Université de Montréal) of revenue.
- 🔹 Ontario universities rely less on grants to support their budget.
🎓 Student Tuition
- 🔹 Ranks as the 1st or 2nd largest revenue source for most universities.
- 🔹 Covers from 12% (Université de Montréal) to 52% (York University) of revenue.
- 🔹 International tuition has been the biggest growth driver in the past five years.
- 🔹 At UBC, international tuition revenue exceeds domestic tuition, while at Queen’s University, domestic tuition is the larger share.
🏢 Sales & Other Services
- 🔹 Includes income from rental spaces, stores, and other services.
- 🔹 Covers 7% (University of Ottawa) to 17% (McMaster University) of revenue.
📈 Investments & Endowments
- 🔹 Contribution ranges from 2% (Simon Fraser) to 15% (Western University) of revenues.
💡 Key Takeaways
Tuition and grants dominate university funding, with tuition seeing the most growth in the past five years, primarily due to the increase in international students.
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