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Students leaving the new Ivey business school building
Students leaving the new Ivey business school building Photograph by Jessica Darmanin

How big is your university’s endowment? See here.

Donor funding matters, so pay attention
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Western University students exit the Ivey Building on campus (Jessica Darmanin)

A couple recently donated $55,000 to Wilfrid Laurier University to fund scholarships for Aboriginal students. Thousands of others before them made similar gifts. Taken together, it all adds up to an $80-million "endowment fund." That money can’t be touched, but it earns income most years, that is then spent making life better on campus, whether it’s restricted to certain students like that recent donation, earmarked for a certain type of professor, or can be spent however Laurier pleases.

Endowments matter—and they vary greatly in size. The Canadian Association of University Business Officers provided Maclean’s with data on the sizes of the school’s entrusted funds. We’ve placed it in a chart below that shows the annual totals for 2010 and 2012 along with endowments per full-time student, which range from $635 at the Université du Québec à Montréal to $114,420 per student at Victoria University, a 178-year-old college of the University of Toronto. Laurier, a mid-sized school in Waterloo, Ont., had merely $10 million in 1998. But like many universities in Canada, it has enjoyed substantial growth in recent years, thanks in part to a big push to encourage alumni to give back. Of course, Laurier’s is still small compared to the University of Toronto’s: $2 billion, when its colleges are added in. Compare that to York University, which is nearly two-thirds as populous as U of T but had $351 million endowed. The main reason for the difference is age. The University of Toronto has had since 1827 to build its savings; York was founded in 1959. Even U of T might look enviously at American schools. In 2012, Harvard had $31 billion, Yale had $20 billion, the University of Texas system had $18 billion and MIT had $10 billion. Gillian Morrison, assistant VP of university advancement at U of T, explains why the totals are so much greater there. "Philanthropy has played a bigger role in the U.S. for a longer period of time," she says. "In Canada, while it’s always been important—Convocation Hall was put up by alumni—it’s only in the last 25 years that it’s become a very significant part of what we do." In other words: we’ve got some catching up to do.

Endowments

UniversityEndowment at end of 2012 (millions)Endowment at end of 2010 (millions)Two-year change (2010 to 2012)Endowment per full-time studentFull-time undergraduate studentsFull-time graduate students
Toronto (not including Victoria or Trinity)$1,628$1,5395.79%$21,47861,00014,800
UBC$1,107$1,0465.79%$25,72233,9509,070
McGill$1,016$9417.96%$34,18322,7806,940
Alberta $833$7678.60%$23,37929,5006,130
Queen's$657$6107.70%$30,27617,8003,900
Calgary$538$47513.26%$18,13923,3906,270
McMaster$456$4296.29%$17,30622,8003,550
Manitoba$431$37415.24%$17,61321,5002,970
Dalhousie$397$3639.37%$24,19313,1903,220
Western (not including Huron)$390$34812.07%$14,07922,7005,000
Victoria (U of T)$365$26736.70%$114,4203,14050
York$351$3209.69%$7,81740,9004,000
Victoria (B.C.)$308$2858.07%$18,96613,2502,990
Simon Fraser$278$24314.40%$16,19113,5203,650
Waterloo (not including St. Jerome's)$268$23613.56%$8,09729,1004,000
Guelph$246$20718.84%$10,16521,9002,300
Saskatchewan$232$19419.59%$12,63615,6502,710
Carleton$214$275-22.18%$9,22420,2003,000
Montréal (not including HEC)$204$16920.71%$5,93425,3109,070
Ottawa (not including Saint-Paul)$193$1797.82%$5,48629,9805,200
Laval$138$1278.66%$4,20324,8208,010
New Brunswick$123$172-28.49%$13,8057,970940
Mount Allison$123$11110.81%$50,2042,43020
Ryerson$102$939.68%$4,27521,8002,060
St. Francis Xavier$91$7718.18%$22,4693,96090
Concordia$88$827.32%$3,48920,7204,500
Wilfrid Laurier$76$4858.33%$4,63415,4001,000
Trinity (U of T)$73$704.29%$41,2431,71060
Memorial$72$669.09%$4,83212,5902,310
Windsor$70$657.69%$4,96511,8002,300
Moncton$65$5518.18%$13,5144,440370
Lakehead$65$80-18.75%$9,1686,300790
Acadia$59$60-1.67%$15,4453,600220
Brock$58$4334.88%$3,60214,8001,300
Northern B.C.$53$521.92%$21,5451,950510
HEC Montréal$50$4316.28%$7,7764,7401,690
Mount Royal$44$417.32%$4,6569,4500
Lethbridge$42$3713.51%$5,6307,030430
Brandon$42$3810.53%$19,9051,990120
Trent$41$3710.81%$5,9256,500420
Winnipeg$41$3710.81%$6,7555,970100
Laurentian (including Sudbury and Thornloe)$59$557.27%$8,6136,400450
King's (Halifax)$33$34-2.94%$28,4481,13030
Regina$32$34-5.88%$2,9829,900830
Bishop's$32$320.00%$13,0082,44020
Sherbrooke$30$287.14%$1,92810,8304,730
Saint-Paul$28N/AN/A$53,846220300
PEI$26$2123.81%$6,6503,590320
Saint Mary's$25$2119.05%$3,7596,280370
Cape Breton$23$1553.33%$8,5822,460220
Mount Saint Vincent$21$205.00%$8,7142,290120
UQAM$16N/AN/A$63521,1604,030
Huron$15N/AN/A$11,8111,26010
Vancouver Island$14N/AN/A$2,5095,320260
Trinity Western$12$1020.00%$5,3331,650600
Saint-Boniface$12$1020.00%$23,5295100
OCAD$11N/AN/A$3,0903,400160
UQAT$10N/AN/A$1,2036,9401,370
ETS$9$812.50%$1,8523,950910
Fraser Valley$8$80.00%$1,3565,86040
St. Jerome's$8N/AN/A$12,5006400
Emily Carr$5N/AN/A$2,9411,67030
Redeemer$4N/AN/A$4,8788200
Algoma$3N/AN/A$2,5421,1800
Sainte Anne$2N/AN/A$5,5563600

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