Civic Intelligence

Upper Canada College Foundation

990 • Fiscal year 2023 • EIN 23-7069576

Jul 01, 2022 to Jun 30, 2023 • Filed on Feb 29, 2024

Organization ProfileN/A
200 Lonsdale RoadToronto, Ontario M4V1W6CA

(416) 488-1125

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

3rd percentile

0.00x

Higher debt load relative to assets than 3% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

5th percentile

0.02x

Higher debt load relative to revenue than 5% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Net Margin

1st percentile

-222%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

5th percentile

$0

Higher top officer pay than 5% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2023

Asset Growth

61st percentile

8.8%

Faster asset growth than 61% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

2nd percentile

-70%

Faster revenue growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets3rd percentile

Assets

Up

$101,109,375

Up $8,149,433 (+8.8%) from 2022

Net Assets

Up

$101,092,900

Up $8,162,002 (+8.8%) from 2022

Liabilities

Down

$16,475

Down $12,569 (-43%) from 2022

Revenue And Expenses
Liabilities / Revenue5th percentileNet Margin1st percentile

Revenue

Down

$1,090,194

Down $2,487,567 (-70%) from 2022

Expenses

Down

$3,510,149

Down $98,507 (-2.7%) from 2022

Net Income

Down

-$2,419,955

Down $2,389,060 (-7733%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth61st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2022: $92,959,942Liabilities 2022: $29,044Net Assets 2022: $92,930,8982022Assets 2023: $101,109,375Liabilities 2023: $16,475Net Assets 2023: $101,092,9002023Assets 2024: $108,995,413Liabilities 2024: $14,242Net Assets 2024: $108,981,1712024Assets 2025: $121,880,274Liabilities 2025: $18,004Net Assets 2025: $121,862,2702025

Highlighted filing

2023

Assets$101,109,375
Liabilities$16,475
Net Assets$101,092,900
Open 2023 Filing

Operations Trend

Revenue Growth2nd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2022: $3,577,761Expenses 2022: $3,608,656Net Income 2022: -$30,8952022Revenue 2023: $1,090,194Expenses 2023: $3,510,149Net Income 2023: -$2,419,9552023Revenue 2024: $5,903,045Expenses 2024: $3,481,770Net Income 2024: $2,421,2752024Revenue 2025: $11,266,401Expenses 2025: $5,346,346Net Income 2025: $5,920,0552025

Highlighted filing

2023

Revenue$1,090,194
Expenses$3,510,149
Net Income-$2,419,955
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Feb 29, 2024
Return Version
2022v5.0
Gross Receipts
$6,900,592
Mission and Program Overview

Mission

Funds provided to upper canada college primarily for needs-based financial assistance for students

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$91,744,726$98,413,773▲ $6,669,047
Savings and Temporary Cash Investments$1,215,216$2,695,602▲ $1,480,386
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$92,959,942$101,109,375▲ $8,149,433
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$29,044$16,475▼ $12,569
Other Liabilities$0$0→ $0
Total Liabilities$29,044$16,475▼ $12,569
Net Assets / Fund Balance
Net Assets With Donor Restrictions$89,543,844$97,489,959▲ $7,946,115
Net Assets Without Donor Restrictions$3,387,054$3,602,941▲ $215,887
Total Net Assets Fund Balance$92,930,898$101,092,900▲ $8,162,002
Total Liabilities and Net Assets / Fund Balance$92,959,942$101,109,375▲ $8,149,433

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$78,568,455$1,891,033▲ $4,608,238-$85,067,726
2021$88,739,576$659,330-$10,830,451$78,568,455
2020$70,046,302$8,074,767▲ $10,618,507-$88,739,576
2019$70,046,302---$70,046,302
2018$70,046,302---$70,046,302
Compensation and Service Providers
Top Officer Pay5th percentile

Board Members and Trustees

NameTitle
-Board Chair
-Board Member
-Ex-officio Board Member
-Ex-officio Exec Director
-Ex-officio Principal
-Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$640,673
Program Service Revenue
$0
Investment Income
$449,521
Other Revenue
$0
All Other Contributions
$640,673
Change in Net Assets
$-2,419,955

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded5$79,004Market value
Total Noncash Contributions5$79,004-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,488,502
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$10,964,417
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$14,452,919
Total Revenue per Form 990
$3,488,502
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,488,502
Other Expenses$21,647
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Foreign Grants$3,488,502--$3,488,502
Other Expenses-$21,647-$21,647
Total Functional Expenses$3,488,502$21,647$0$3,510,149

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,715,097
Expenses per Audited Statements$3,510,149
Total Expenses per Form 990$3,510,149
Expenses Not Reported on Form 990$1,204,948
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
International Activity

International Summary

Offices
1
Employees
0
Spending
$101,902,275

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
North America (Canada & Mexico only)Investments-00$98,413,773
North America (Canada & Mexico only)Grantmaking-10$3,488,502
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B Review of form 990 by governing body

“The form 990 was prepared by the organization's tax preparers, and reviewed by the organization's treasurer.”

Form 990, Part VI, Line 12C Conflict of interest policy

“All officers and directors are required to complete, sign, and return a conflicts of interest disclosure to the organization annually. Any conduct of private business or rendering of personal services must be disclosed immediately in writing to the secretary of the board of governors. Follow-up action will be determined by the chairman of the board of governors of the college, in consultation with the vice-chairmen. Should a member of the board of governors or any committee thereof have a conflict, he/she must temporarily withdraw from board deliberation, voting and access to applicable board information.”

Form 990, Part VI, Line 19 Required documents available to the public

“The governing documents, conflict of interest policy and financial statements are available to the public by request. The upper canada educational foundation does not have its own website but donors and prospective donors, as well as any other interested parties, can request the documents from the treasurer and they will be provided.”

Filing and Contact Details

Filer

Filer Name
Upper Canada College Foundation
EIN
23-7069576
Phone
4164881125
Address
CA

Signing Officer

Name
Patti Macnicol
Title
Treasurer
Phone
4164881125
Signed
2024-02-29
Discuss with paid preparer
Yes

Organization Details

Formed
1962
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Ernst & Young US Llp
Address
111 MONUMENT CIRCLE, INDIANAPOLIS, IN 46204-5100
Preparer
Jennifer D Rhoderick
Phone
3176817000
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9 Other changes in net assets or fund balances

“Transfers from upper canada college - 103821; foreign rate translation differences - 912687;”

Financial Statement Notes

Schedule D, Part V, Line 4 Intended uses of endowment funds

“The endowment fund consists of externally restricted contributions received by the Foundation where the endowment principal is required to be maintained permanently or administered in accordance with the Foundation's endowment management policies. The endowment fund also includes internal resources transferred by the Board to the Endowment Fund with the intention that they be managed in accordance with such endowment management policies. The investment income generated from assets held for endowment purposes must be used in accordance with the various purposes established by the donors or the board. The Foundation's Board has established endowment management polies with the objective of protecting the real value of the Foundation's funds by limiting the amount distributed to Upper Canada College and requiring any unexpended investment income to be retained. The application of these policies in any particular year involves the application of a distribution formula that results in an annual grant to Upper Canada College, which is more or less than the Foundation's income in such year, depending on its actual results. In any particular year, should net investment income be insufficient, the amount of that is distributed to the College is funded by a transfer from the Endowment Fund.”

Schedule D, Part XI, Line 2(D) Other revenues in audited financial statements not in form 990

“Foreign rate translation difference - 1398968”

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

“Foreign rate translation difference - 1204948”

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IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt013
IRS990/GrantAmt03488502
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt00
IRS990/GrantsToDomesticOrgsGrp/TotalAmt00
IRS990/GrantsToIndividualsInd0false
IRS990/GrantsToOrganizationsInd0false
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossAmountSalesAssetsGrp/SecuritiesAmt06259919
IRS990/GrossReceiptsAmt06900592
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0false
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt013
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InfoInScheduleOPartVInd0X
IRS990/InfoInScheduleOPartXIInd0X
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
IRS990/InvestmentsProgramRelatedGrp/BOYAmt00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt091744726
IRS990/InvestmentsPubTradedSecGrp/EOYAmt098413773
IRS990/IRPDocumentCnt00
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt00
IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt05810398
IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MiscellaneousRevenueGrp/ExclusionAmt00
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt00
IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/MissionDesc0FUNDS PROVIDED TO UPPER CANADA COLLEGE PRIMARILY FOR NEEDS-BASED FINANCIAL ASSISTANCE FOR STUDENTS
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0true
IRS990/NetAssetsOrFundBalancesBOYAmt092930898
IRS990/NetAssetsOrFundBalancesEOYAmt0101092900
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0449521
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0449521
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt09565449
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt03387054
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt03602941
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NoncashContributionsAmt079004
IRS990/NondeductibleContributionsInd0false
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt01016508
IRS990/OtherExpensesGrp/Desc0ADMINISTRATIVE EXPENSES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt021647
IRS990/OtherExpensesGrp/TotalAmt021647
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0Patti Macnicol
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0653643
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt03590043
IRS990/PYInvestmentIncomeAmt02924118
IRS990/PYOtherExpensesAmt018613
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0-30895
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt03608656
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt03577761
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-2419955
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01215216
IRS990/SavingsAndTempCashInvstGrp/EOYAmt02695602
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0640673
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0653643
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt04461409
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01070404
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01806013
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt08632142
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.5514
IRS990ScheduleA/PublicSupportPY170Pct00.6692
IRS990ScheduleA/PublicSupportTotal170Amt04759581
IRS990ScheduleA/SubstantialContributorsTotAmt03872561
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0640673
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0653643
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt04461409
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt01070404
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01806013
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt08632142
IRS990ScheduleA/TotalSupportAmt08632142
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.284
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt078568455
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt01891033
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt085067726
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt04608238
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt088739576
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0659330
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt078568455
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt010830451
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt070046302
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt08074767
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt088739576
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt010618507
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt070046302
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt070046302
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt070046302
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt070046302
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/ExpensesNotReportedAmt01204948
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03510149
IRS990ScheduleD/NetUnrealizedGainsInvstAmt09565449
IRS990ScheduleD/OtherExpensesIncludedAmt01204948
IRS990ScheduleD/OtherExpensesNotIncludedAmt00
IRS990ScheduleD/OtherRevenueAmt01398968
IRS990ScheduleD/OtherRevenuesNotIncludedAmt00
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.716
IRS990ScheduleD/RevenueNotReportedAmt010964417
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03488502
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The endowment fund consists of externally restricted contributions received by the Foundation where the endowment principal is required to be maintained permanently or administered in accordance with the Foundation's endowment management policies. The endowment fund also includes internal resources transferred by the Board to the Endowment Fund with the intention that they be managed in accordance with such endowment management policies. The investment income generated from assets held for endowment purposes must be used in accordance with the various purposes established by the donors or the board. The Foundation's Board has established endowment management polies with the objective of protecting the real value of the Foundation's funds by limiting the amount distributed to Upper Canada College and requiring any unexpended investment income to be retained. The application of these policies in any particular year involves the application of a distribution formula that results in an annual grant to Upper Canada College, which is more or less than the Foundation's income in such year, depending on its actual results. In any particular year, should net investment income be insufficient, the amount of that is distributed to the College is funded by a transfer from the Endowment Fund.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1FOREIGN RATE TRANSLATION DIFFERENCE - 1398968
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2FOREIGN RATE TRANSLATION DIFFERENCE - 1204948
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part V, Line 4 Intended uses of endowment funds
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.0
IRS990ScheduleD/TotalExpensesPerForm990Amt03510149

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$101,109,375
Liabilities
$16,475
Net assets
$101,092,900
Revenue
$1,090,194
Expenses
$3,510,149
Net income
-$2,419,955
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$122$0.02$122$11.3$5.35$5.92
2024Detailed filing. Detailed filing data is available for this year.$109$0.01$109$5.90$3.48$2.42
2023Detailed filing. Detailed filing data is available for this year.$101$0.02$101$1.09$3.51$2.42
2022Detailed filing. Detailed filing data is available for this year.$93.0$0.03$92.9$3.58$3.61$0.03