Carleton University FY2022 filing

Tax-deductible

Canada501(c)(3)Since 1942EIN 23-7088831Revenue $553.9M in FY2022

On file with the IRScarleton.caOttawa Ontario K1s 5b6, 00000-0000 · CanadaTax-exempt since Dec 1970School — 170(b)(1)(A)(ii)

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Carleton University provides post secondary education

501(c)(3) charity; gifts are tax-deductible.
95¢ of each $1 spent went to programs.
$3.2M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible by treaty
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $11.3M a year · 2% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$3.2M
to officers and key staff · 0.6% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
14 mo
of spending, in cash
Looks good: 13.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $427K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$614.5M
41% of total assets
Looks good: liabilities are 41% of assets; 50% or less.
Pt X · Ln 26
Independent board members
24
of 32 voting members
Looks good: 24 of 32 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$553.9M
+13% vs prior year
Spent
$546.7M
To programs
95%
Net assets
$898.0M
By yearFY2021–FY2025
Revenue
$553.9M
FY2022▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2021$491.2M
FY2022$553.9M
FY2023$544.5M
FY2024$560.4M
FY2025$586.4M
Expenses
$546.7M
FY2022▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2021$484.3M
FY2022$546.7M
FY2023$557.9M
FY2024$591.5M
FY2025$612.6M
Net assets
$898.0M
FY2022▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2021$982.1M
FY2022$898.0M
FY2023$866.4M
FY2024$843.8M
FY2025$853.5M

From the FY2022 Form 990 (year ending April 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1970.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $518.7M Management & general 4% · $23.5M Fundraising 1% · $4.5M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

44 people listed on the 990; $3.2M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$328,628Pt VII · Sec A
$240,261Pt VII · Sec A
Vice President Finance and Admin
$225,334Pt VII · Sec A
$223,412Pt VII · Sec A
$217,214Pt VII · Sec A
$215,467Pt VII · Sec A
Provost and VP Academic
$205,454Pt VII · Sec A
$200,481Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Benoit Antoine Bacon—$291,090$311,691$328,628$310,740
Thomas Tomberlin$311,100$231,004$193,959$205,454$197,101
Isaac Otchere$245,469$205,788$207,010——
Dana Brown—$215,523$227,512$240,261$218,055
Howard Nemiroff$235,792$198,700———
Larry Kostiuk$228,053$211,354$212,815$223,412$211,921
Michel Piche——$212,975$225,334$215,970
Halim Yanikomeroglu—$196,724—$217,214—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers post-secondary education to students.

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Provided by the organization

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3 programs · $518.7M · in their own filed words · FY2021
01

General operations, plant fund, scholarship and bursaries

$404.2Mprogram expense
02

Sponsored and contract research

$73.8Mprogram expense
03

Ancillary operations

$40.7Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$427K
See all 3 funders →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$553.9M
Ln 12
Fees for servicesLn 2g$367.3M
Gifts and grantsLn 1h$148.0M
Investment incomeLn 3$38.6M
Money outPt IX
$546.7M
Ln 25
Programscol B$518.7M
Managementcol C$23.5M
Fundraisingcol D$4.5M
Owns and owesPt X
$898.0M
net assets · Ln 32
Cash and savingsLn 1–2$632.7M
Total assetsLn 16$1.5B
LiabilitiesLn 26$614.5M
PeoplePt VI, VII
44
listed · VII A
PaidVII A19
Voting boardVI 1a32
IndependentVI 1b24
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$148.0M
Government grantsLn 1e$139.0M
Noncash giftsLn 1g$116K
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$367.3M
Investment incomeLn 3$38.6M
Total revenueLn 12$553.9M
Assets in detailPt X, end of year
CashLn 1$397.2M
SavingsLn 2$235.5M
Cash and savings togetherLn 1–2$632.7M
InvestmentsLn 11–13$271.5M
Land, buildings, equipmentLn 10c$570.9M
Other assetsLn 15$4.5M
Total assetsLn 16$1.5B
LiabilitiesLn 26$614.5M
Net assetsLn 32$898.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 6100
Fiscal year endsHeaderApril
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$491.5M$632.7M
InvestmentsLn 11–13$286.2M$271.5M
Land, buildings, equipmentLn 10c$592.1M$570.9M
Total assetsLn 16$1.41B$1.51B
LiabilitiesLn 26$429.1M$614.5M
Net assetsLn 32$982.1M$898.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$46.7M$46.7M
Pay of current officers, directors and key staffLn 5$2.4M$1.0M$1.4M
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$290.8M$277.5M$9.5M$3.7M
Pension plan contributionsLn 8$14.2M$13.6M$629K
Other employee benefitsLn 9$44.1M$41.3M$2.7M
Management feesLn 11a$0
Legal feesLn 11b$873K$429K$444K
Accounting feesLn 11c$89K$3K$86K
Investment management feesLn 11f$665K$665K
Other fees for servicesLn 11g$11.5M$10.9M$324K$247K
Advertising and promotionLn 12$2.0M$1.8M$55K$69K
Office expensesLn 13$15.8M$15.1M$536K$233K
Information technologyLn 14$699K$675K$4K$19K
OccupancyLn 16$30.9M$27.0M$3.8M$16K
TravelLn 17$1.8M$1.8M$3K$132
Conferences, conventions and meetingsLn 19$1.3M$1.2M$15K$10K
InterestLn 20$2.1M$2.1M
Depreciation, depletion and amortizationLn 22$32.8M$32.8M
InsuranceLn 23$994K$801K$192K
Other expenses (24a–d)Ln 24$47.2M$43.3M$3.7M$232K
Total functional expensesLn 25$546.7M$518.7M$23.5M$4.5M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $586.4M$612.6M−$26.2M$853.5M 990 PDF
FY2024 $560.4M$591.5M−$31.0M$843.8M 990 PDF
FY2023 $544.5M$557.9M−$13.4M$866.4M 990 PDF
FY2022 Viewing $553.9M$546.7M$7.2M$898.0M 990 PDF
FY2021 $491.2M$484.3M$6.9M$982.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $553,911,412 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $143,906,203$147,999,205
I-9 Program service revenuePrior year $330,474,142$367,340,083
I-10 Investment incomePrior year $16,866,295$38,572,124
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $491,246,640$553,911,412
I-13 Grants and similar amounts paidPrior year $40,668,347$46,685,206
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $323,108,129$351,468,878
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $120,535,613$148,550,524
I-18 Total expensesPrior year $484,312,089$546,704,608
I-19 Revenue less expensesPrior year $6,934,551$7,206,804
Part VI · Governance 24 of 32 board members independent, 1 to look at
VI-1a Voting members of the governing body32
VI-1b Independent voting members24
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $553,911,412 across 12 lines filed
Lines not itemized here account for $21,595,753 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$139,007,743
VIII-1f All other contributions, gifts and grants$8,991,462
VIII-1g Noncash contributions (included above)$116,123
VIII-1h Total contributions, gifts and grants$147,999,205
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $345,744,330 · Unrelated business $0 · Excluded from tax $0$345,744,330
VIII-3 Investment incomeRelated to mission $38,572,124 · Unrelated business $0 · Excluded from tax $0$38,572,124
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $405,912,207 · Unrelated business $0 · Excluded from tax $0$553,911,412
Part IX · Statement of functional expenses $546,704,608 across 21 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $46,685,206$46,685,206
IX-5 Pay of current officers, directors and key staffPrograms $1,000,490 · Management $1,406,735$2,407,225
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $277,549,175 · Management $9,536,516 · Fundraising $3,699,690$290,785,381
IX-8 Pension plan contributionsPrograms $13,561,794 · Management $629,328$14,191,122
IX-9 Other employee benefitsPrograms $41,338,439 · Management $2,746,711$44,085,150
IX-11a Management fees$0
IX-11b Legal feesPrograms $428,660 · Management $444,186$872,846
IX-11c Accounting feesPrograms $3,016 · Management $86,002$89,018
IX-11f Investment management feesPrograms $665,423$665,423
IX-11g Other fees for servicesPrograms $10,906,193 · Management $323,562 · Fundraising $247,435$11,477,190
IX-12 Advertising and promotionPrograms $1,840,930 · Management $55,139 · Fundraising $69,378$1,965,447
IX-13 Office expensesPrograms $15,059,641 · Management $536,051 · Fundraising $233,449$15,829,141
IX-14 Information technologyPrograms $675,187 · Management $4,480 · Fundraising $19,160$698,827
IX-16 OccupancyPrograms $27,019,058 · Management $3,836,930 · Fundraising $15,670$30,871,658
IX-17 TravelPrograms $1,767,611 · Management $3,283 · Fundraising $132$1,771,026
IX-19 Conferences, conventions and meetingsPrograms $1,227,881 · Management $14,612 · Fundraising $9,516$1,252,009
IX-20 InterestPrograms $2,065,058$2,065,058
IX-22 Depreciation, depletion and amortizationPrograms $32,799,163$32,799,163
IX-23 InsurancePrograms $801,339 · Management $192,267$993,606
IX-24 Other expenses (24a–d)Programs $43,276,058 · Management $3,691,675 · Fundraising $232,379$47,200,112
IX-25 Total functional expensesPrograms $518,670,322 · Management $23,507,477 · Fundraising $4,526,809$546,704,608
Part X · Balance sheet $1,512,501,069 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $376,644,879$397,229,884
X-2 Savings and temporary cash investmentsStart of year $114,819,135$235,475,445
X-4 Accounts receivableStart of year $26,951,608$24,983,032
X-9 Prepaid expenses and deferred chargesStart of year $9,002,619$7,976,792
X-10c Land, buildings and equipment, netStart of year $592,134,485$570,887,055
X-13 Program-related investmentsStart of year $286,241,975$271,459,619
X-15 Other assetsStart of year $5,434,063$4,489,242
X-16 Total assetsStart of year $1,411,228,764$1,512,501,069
X-17 Accounts payable and accrued expensesStart of year $122,179,950$144,281,599
X-19 Deferred revenueStart of year $258,637,744$255,139,145
X-24 Unsecured notes and loans payableStart of year $0$172,046,600
X-26 Total liabilitiesStart of year $429,093,734$614,466,526
X-27 Net assets without donor restrictionsStart of year $312,153,395$262,827,635
X-28 Net assets with donor restrictionsStart of year $669,981,635$635,206,908
X-32 Total net assets or fund balancesStart of year $982,135,030$898,034,543
X-33 Total liabilities and net assetsStart of year $1,411,228,764$1,512,501,069
Part XI · Reconciliation of net assets $898,034,543 net assets at year end
XI-1 Total revenue$553,911,412
XI-2 Total expenses$546,704,608
XI-3 Revenue less expenses$7,206,804
XI-4 Net assets at start of year$982,135,030
XI-5 Net unrealized gains (losses) on investments−$21,391,919
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets−$69,915,372
XI-10 Net assets at end of year$898,034,543

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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