Royal Institution for the Advancement of Learning-Mcgill Uni

Analysis

Royal Institution for the Advancement of Learning-Mcgill Uni is a registered charity in United States, based in Canada. It received its IRS tax-exemption ruling in April 1944, 82 years ago. The IRS classifies it as a school under section 501(c)(3).

In the financial year ending April 2023, Royal Institution for the Advancement of Learning-Mcgill Uni reported income of $1.25bn and spending of $1.26bn, spending 101% of its income. Across the 5 years on record, from April 2019 to April 2023, income grew from $1.1m to $1.25bn (+115854%), an average of +484% a year. The sharpest change came in the year to April 2021, when income rose by 103095%. Over the whole period it spent 99% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Royal Institution for the Advancement of Learning-Mcgill Uni sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile. Charities of a similar size with the same main cause include Valley Health System ($1.22bn), Ascension Health-Is Inc ($1.25bn) and Nature Conservancy ($1.17bn).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 62% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $3.6m (0.3% of expenses). Other salaries and wages came to $590.3m. It paid $459k in professional fundraising fees. At year end it held assets of $4.47bn against liabilities of $3.11bn, net assets of $1.37bn.