University of Waterloo
University of Waterloo reported $1.35 billion in revenue and $1.33 billion in expenses for the fiscal year ending April 30, 2025. Of every $100 it spent, $93.20 went to program services, $5.17 to management and general costs and $1.63 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 43.8% of the total. Government grants made up 31.8%. 2,245 people received more than $100,000 in reportable compensation. Revenue rose 12% between FY2021 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending April 30, 2025 · Form 990, Part IX, line 25 · total expenses $1.33BFor context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending April 30, 2025 · Form 990, Part VIII · total revenue $1.35BThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 93.2% | 84.4% |
| Management & general Part IX 25(C) ÷ 25(A) | 5.2% | 13.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.6% | 0.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.04 | $0.04 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 36.4% | 19.1% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 31.8% | 1.1% |
| Program service revenue share Part VIII 2g ÷ 12 | 43.8% | 69.9% |
| Highest reported compensation Part VII-A, columns D–F | Not reported | $331,578 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | Not reported | 1.28% |
| People paid over $100,000 Part VII, line 2 | 2,245 | 8 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 13.2 | 13.3 |
| Independent voting board members Part VI 1a–1b | 16 of 31 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expense5 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b31 · 16 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13No
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 50
- Volunteers Part I, line 619
Largest outside contractors
FY2025 · Form 990, Part VII, Section B · businesses only| Melloul-Blamey Construction Inc Construction Management | $21,842,341 |
| Harbridge and Cross Limited Construction Management | $19,305,285 |
| Collaborative Structures Limit Construction Management | $14,337,976 |
| Hypertec Systems Inc (CAD) IT services and solutions | $12,027,650 |
| CDW CANADA CORP IT services and solutions | $9,194,940 |
Individuals listed as contractors are left out. 432 contractors were paid more than $100,000 in all.
Private foundation grants it received
1 private foundation reported grants to University of Waterloo totaling $0 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from University of Waterloo's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for University of Waterloo, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 University of Waterloo spent in FY2025, $93.20 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
- The Royal Institution for the Advancement of Learning McGill UniversityCanada, · revenue $1.34B · programs 92.8% · FY2025
- The Governors of the University of CalgaryCanada, · revenue $1.36B · programs 94.5% · FY2026
- Au Medical CenterMarietta, GA · revenue $1.29B · programs 92.1% · FY2025
- The Howard UniversityWashington, DC · revenue $1.43B · programs 67.8% · FY2025
- Milton Hershey School and School TrustHershey, PA · revenue $1.26B · programs 72.2% · FY2025
Questions people ask
How much of University of Waterloo's spending goes to programs?
In the fiscal year ending April 30, 2025, University of Waterloo reported that 93.2% of its $1.33 billion in expenses went to program services, 5.2% to management and general and 1.6% to fundraising (Form 990, Part IX).
Where does University of Waterloo get its money?
Of $1.35 billion in revenue in the fiscal year ending April 30, 2025, 36.4% came from contributions and grants (including 31.8% from government grants) and 43.8% from program service revenue (Form 990, Part VIII).
Is University of Waterloo a registered charity?
The IRS lists EIN 98-0061413 as a 501(c)(3) organization (school). Form 990 filings on record here cover tax years 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending April 30, 2025, object 202600239349301410 · read the filing · XML
- FY2024: Form 990 for the fiscal year ending April 30, 2024, object 202412579349301566 · read the filing
- FY2023: Form 990 for the fiscal year ending April 30, 2023, object 202322569349300412 · read the filing
- FY2022: Form 990 for the fiscal year ending April 30, 2022, object 202232569349301403 · read the filing
- FY2021: Form 990 for the fiscal year ending April 30, 2021, object 202142589349301839 · read the filing
All filings for EIN 98-0061413: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.