A post-secondary education is increasingly necessary to find employment in Canada’s information economy. But once you’ve finished your degree, traded in your book bag for a briefcase, and paid off your student loans, what happens to the institution you left behind? Many universities and colleges face financial difficulties and require further support beyond your tuition dollars in order to continue their pursuit of higher education.
Fortunately, universities in Canada qualify as charities and can receive donations from the public (via Chimp!). Donors receive tax receipts like they would for donations to any other charity.
As part of their listing of highly-rated charities in Canada, our friends at Charity Intelligence have included eight universities that have achieved a 4-star rating, the highest rating they give; ratings are based on transparency, accountability, need for funding, and operating efficiency. Here are those institutions in alphabetical order.
McMaster University, Hamilton, Ontario. Endowment (2014): $609 million.
Memorial University of Newfoundland, St. John’s, Newfoundland. Endowment (2013): $69 million.
Trent University, Peterborough, Ontario. Endowment (2014): $48.6 million.
University of Alberta, Edmonton, Alberta. Endowment (2015): $1 billion.
University of Guelph, Guelph, Ontario. Endowment (2015): $308.9 million.
University of Saskatchewan, Saskatoon, Saskatchewan. Endowment (2013): $247.9 million.
University of Toronto, Toronto, Ontario. Endowment (2015): $2.14 billion.
University of Victoria, Victoria, British Columbia. Endowment (2015): $348 million.