Civic Intelligence

University of Prince Edward Island

EIN 31-1682468 • 501(c)3 • Charlottetown, Prince Edward Isl, CA

Profile

The university of prince edward island, founded on the tradition of liberal education, exists to encourage and assist people to acquire the skills, knowledge, and understanding necessary for critical and creative thinking, and thus prepare them to contribute to their own betterment and that of society through the development of their full potential. To accomplish these ends the university is a community of scholars whose primary tasks are to teach and to learn, to engage in scholarship and research, and to offer service for the benefit of our island and beyond.

550 University AvenueCharlottetown, Prince Edward Isl C1A 4P3CA

www.upei.ca

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

50th percentile

0.29x

Higher debt load relative to assets than 50% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Liabilities / Revenue

65th percentile

0.70x

Higher debt load relative to revenue than 65% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Net Margin

77th percentile

17%

Higher net margin than 77% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Top Officer Pay

12th percentile

$321,650

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.2% of source-year revenue.

501(c)3 • $250M-$1B nonprofits • Source year 2025

Asset Growth

69th percentile

10%

Faster asset growth than 69% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2024 to 2025

Revenue Growth

56th percentile

11%

Faster revenue growth than 56% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2024 to 2025

Assets

Up

$437,235,778

Up $39,782,732 (+10%) from 2024

Liabilities

Up

$127,205,375

Up $15,301,080 (+14%) from 2024

Net Assets

Up

$310,030,403

Up $24,481,652 (+8.6%) from 2024

Revenue

Up

$180,786,092

Up $17,275,545 (+11%) from 2024

Expenses

Up

$149,708,730

Up $5,891,972 (+4.1%) from 2024

Net Income

Up

$31,077,362

Up $11,383,573 (+58%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600M$400M$200M$0Assets 2018: $258,452,005Liabilities 2018: $145,880,893Net Assets 2018: $112,571,1122018Assets 2019: $259,108,706Liabilities 2019: $140,847,858Net Assets 2019: $118,260,8482019Assets 2020: $255,150,975Liabilities 2020: $162,494,657Net Assets 2020: $92,656,3182020Assets 2021: $318,278,479Liabilities 2021: $152,993,607Net Assets 2021: $165,284,8722021Assets 2022: $340,388,984Liabilities 2022: $99,670,331Net Assets 2022: $240,718,6532022Assets 2023: $369,946,161Liabilities 2023: $120,966,703Net Assets 2023: $248,979,4582023Assets 2024: $397,453,046Liabilities 2024: $111,904,295Net Assets 2024: $285,548,7512024Assets 2025: $437,235,778Liabilities 2025: $127,205,375Net Assets 2025: $310,030,4032025

Highlighted filing

2025

Assets$437,235,778
Liabilities$127,205,375
Net Assets$310,030,403

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200M$150M$100M$50M$0Revenue 2018: $115,847,067Expenses 2018: $110,722,296Net Income 2018: $5,124,7712018Revenue 2019: $124,139,820Expenses 2019: $113,264,792Net Income 2019: $10,875,0282019Revenue 2020: $119,059,575Expenses 2020: $115,492,733Net Income 2020: $3,566,8422020Revenue 2021: $136,448,153Expenses 2021: $117,361,882Net Income 2021: $19,086,2712021Revenue 2022: $150,754,089Expenses 2022: $126,628,756Net Income 2022: $24,125,3332022Revenue 2023: $150,059,871Expenses 2023: $132,685,840Net Income 2023: $17,374,0312023Revenue 2024: $163,510,547Expenses 2024: $143,816,758Net Income 2024: $19,693,7892024Revenue 2025: $180,786,092Expenses 2025: $149,708,730Net Income 2025: $31,077,3622025

Highlighted filing

2025

Revenue$180,786,092
Expenses$149,708,730
Net Income$31,077,362

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
May 1, 2024 to Apr 30, 2025
Signed
Feb 12, 2026
Return Version
2024v5.2
Gross Receipts
$180,786,092
Mission and Program Overview

Mission

The university of prince edward island, founded on the tradition of liberal education, exists to encourage and assist people to acquire the skills, knowledge, and understanding necessary for critical and creative thinking, and thus prepare them to contribute to their own betterment and that of society through the development of their full potential. To accomplish these ends the university is a community of scholars whose primary tasks are to teach and to learn, to engage in scholarship and research, and to offer service for the benefit of our island and beyond.

The university, founded on the tradition of liberal education, exists to encourage and assist people to acquire the understanding necessary for critical and creative thinking.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$225,897,530$262,427,645▲ $36,530,115
Investments in Publicly Traded Securities$121,689,362$130,097,443▲ $8,408,081
Cash and Non-Interest-Bearing Accounts$22,574,161$25,408,873▲ $2,834,712
Accounts Receivable$7,562,607$8,684,164▲ $1,121,557
Pledges and Grants Receivable$3,137,915$5,097,605▲ $1,959,690
Investments Other Securities$7,918,661$4,245,816▼ $3,672,845
Inventories for Sale or Use$1,378,561$1,274,232▼ $104,329
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$397,453,046$437,235,778▲ $39,782,732
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$45,986,837$62,022,559▲ $16,035,722
Mortgage Notes Payable Secured by Investment Property$48,026,930$45,004,745▼ $3,022,185
Accounts Payable and Accrued Expenses$17,890,528$20,178,071▲ $2,287,543
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$111,904,295$127,205,375▲ $15,301,080
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$188,056,583$212,130,409▲ $24,073,826
Net Assets With Donor Restrictions$97,492,168$97,899,994▲ $407,826
Total Net Assets Fund Balance$285,548,751$310,030,403▲ $24,481,652
Total Liabilities and Net Assets / Fund Balance$397,453,046$437,235,778▲ $39,782,732

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$229,370,291$83,507,827$312,878,118
Equipment$29,679,952$26,029,832$55,709,784
Other Land Buildings$2,619,054$12,466,707$15,085,761
Land$758,348-$758,348

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$67,379,162$6,249,287▲ $5,697,092$5,892,115$73,433,426
2023$65,386,573$4,753,889▲ $7,886,076$10,647,375$67,379,163
2022$60,858,283$690,075▲ $6,636,298$2,933,184$65,251,472
2021$46,599,235$8,405,756▲ $8,863,404$3,010,112$60,858,283
2020$41,567,183$-584,083▲ $8,504,287$2,888,152$46,599,235
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Wendy RogersPresident, UPEI$321,650-$321,650
Wendy RogersAssociate Professor$287,685$18,015$321,650
Gregory Paul KeefeDean, Former Interim President$288,170-$288,170
Gregory Paul KeefeAssociate Vice-President$271,504$6$288,170
Preston Albert SmithDean, Faculty of Med$277,985-$277,985
Preston Albert SmithInterim Dean, Faculty of Vet$249,113$19,205$277,985
Greg NatererVice-President, Admin & Res$244,049-$244,049
Greg NatererVice-President, Admin & Fin$223,864$9,801$244,049
Susan Maureen RidgewayVice-President, People & Cult$213,554-$213,554
Susan Maureen RidgwayProfessor$191,421$20,128$213,554
Tara Leigh JudsonAdvisor to Vice Pres. of Admin$213,543-$213,543
Tara Leigh Judson-$191,421$970$213,543
Dominique GriffonDean, AVC$210,702-$210,702
Dominique Griffon-$190,625$20,113$210,702
Leigh Anne LamontProfessor, Former Assoc Dean$192,019-$192,019
Leigh Anne Lamont-$173,005$20,533$192,019
Etienne CoteProfessor$191,748-$191,748
Etienne Cote-$171,549-$191,748
Laurie Anne McDuffeeProfessor$190,322-$190,322
Laurie Anne McDuffee-$170,190-$190,322
John Arnoldus VanleeuwenInterim Dean, Faculty of Vet$181,689-$181,689
John Arnoldus Vanleeuwen-$161,156-$181,689
Dana SandersonChief Information Officer$178,712-$178,712
Dana SandersonAssociate Vice-President of St$157,396$20,132$178,712
Stephanie Marie HamiltonChair, Compa Animals$176,594-$176,594
Stephanie Marie Hamilton-$158,451-$176,594
Daniel HurnikProfessor$175,948-$175,948
Daniel Hurnik-$155,991-$175,948
William MontelpareDirector$171,895-$171,895
William MontelpareProfessor$153,370$3,044$171,895
Michael Peter FoleyAssociate Professor$169,422-$169,422
Michael Peter Foley-$149,646-$169,422
Jonathan SpearsProfessor$169,100-$169,100
Jonathan Spears-$149,895-$169,100
Trenton J McClureProfessor$168,878-$168,878
Trenton J McClure-$148,750-$168,878
Marva Sweeny-NixonAssociate Vice-President$167,326-$167,326
Marva Sweeny-Nixon-$147,213-$167,326
Donald Anton DesserudProfessor$160,028-$160,028
Donald Anton Desserud-$140,313-$160,028
Frederick KibengeProfessor$155,227-$155,227
Frederick Kibenge-$138,618-$155,227
Christina R LacroixDirector$148,102-$148,102
Christina R LacroixDean, Former Interim President$129,490$20,185$148,102
Nebojsa Kujundzic-$127,989-$146,703
Nebosja KujundzicDean, Faculty of Arts$146,703-$146,703
Gary EvansDirector$145,702-$145,702
Gary EvansVice-President, Admin & Fin$142,757$18,525$145,702
Shannon Fitzpatrick-$128,346-$145,000
Shannon FitzpatrikInterim Associate Dean$145,000-$145,000
Ouma CuniahUniversity Auditor & Risk Mgmt$135,223-$135,223
Ouma Cuniah-$117,208-$135,223
Katherine Gottschall-PassProfessor$125,269-$125,269
Katherine Gottschall-Pass-$108,264-$125,269
William WatermanDirector$119,354-$119,354
William WatermanProfessor$104,235$19,776$119,354
Tim CarrolDirector$102,030-$102,030
Tim Carrol-$98,986-$102,030
Ronald Joseph MacDonaldDean, Faculty of Education$84,652-$84,652
Ronald Joseph MacDonald-$74,851-$84,652
Jeffery T DavidsonProfessor$81,490-$81,490
Jeffery T Davidson-$78,563-$81,490
Donna SuttonAssociate Vice-President of St$56,511-$56,511
Donna Sutton-$55,541-$56,511
Jackie PodgerVice-President, Admin & Fin$50,946-$50,946
Jackie Podger-$50,940-$50,946
Adam FenechAssociate Professor$38,894-$38,894
Adam Fenech-$34,099-$38,894
Timothy J WalkerVice-President, Admin & Fin$7,934-$7,934
Timothy J WalkerProfessor$6,442$18,714$7,934
George JiangDirector$690-$690
George JiangVice-President, People & Cult$646$15,119$690

Board Members and Trustees

NameTitle
Donald K MacKenzieChair
Sandy MacDonaldChair
Sara UnderwoodChair, Compa Animals
Lynn EllsworthPresident, UPEI
Alex MacBeathVice Chair
Hon DIane GriffinVice-President, Admin & Res
Ajay SahajpalDirector
Betty Anne YounkerDirector
Brian ThompsonDirector
Camille MadyDirector
Carolyn SimpsonDirector
Geraldine JohnstonDirector
Hon Mary RobertsonDirector
Karen CreighanDirector
Kateri CoadeDirector
Katerie CoadeDirector
Kevin MageeDIrector
Kristi KellyDirector
Lynn EllsworthDirector
Mary Anne McMahonDirector
Pam MontgomeryDirector
Sara UnderwoodDirector
Shannon MacDonaldDirector
Steve BellamyDirector
Sandy MacDonaldAdvisor to Vice Pres. of Admin
Carolyn SimpsonAssociate Professor
Hon Diane GriffinChancellor
Geraldine JohnstonChief Information Officer
Shannon MacDonaldDean, AVC
Steve BellamyDean, Faculty of Arts
Kristi KellyDean, Faculty of Education
Alex MacBeathDean, Faculty of Med
Ajay SahanpjalInterim Associate Dean
Betty Anne YounkerProfessor
Brian ThompsonProfessor
HonMary RObertsonProfessor
Kevin MageeProfessor
Pam MontgomeryProfessor
Donald K MacKenzieProfessor, Former Assoc Dean
Mary Anne McMahonUniversity Auditor & Risk Mgmt

Highest Paid Contractors

ContractorServicesLocationCompensation
Brighton Construction IncConstruction Mgmt99 POWNAL ST PO BOX 306, Charlottetown, PRINCE EDWARD ISL, Ca$24,806,220
PEI Energy SystemsUtilities40 RIVERSIDE DRIVE, Charlottetown, PRINCE EDWARD ISL, Ca$3,400,260
Leading Edge Homescontruction mgmt12 STORE FIELD LANE, Johnsonriver, PE, Ca$2,572,515
Dana Hospitality LpHospitality2898 S SHERIDAN WAY 200, Oakville, ONTARIO, Ca$2,243,027
Ivan's Audio-VisualEquipment Supply181 RUE ST GEORGE STREET, Moncton, NB, Ca$1,297,591
Revenue and Support

Revenue Composition

Contributions and Grants
$101,751,709
Program Service Revenue
$68,607,206
Investment Income
$10,310,920
Other Revenue
$116,257
All Other Contributions
$7,022,813
Change in Net Assets
$31,077,362

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded17$134,884selling price
Other Non Cash Contri Table16$92,285Selling price
Books and Publications-$2,286selling price
Works of Art1$484selling price
Total Noncash Contributions34$229,939-

Audited Revenue Reconciliation

Revenue per Audited Statements
$180,786,092
Revenue Not Reported on Form 990
$2,164,689
Total Revenue per Audited Statements
$182,950,781
Total Revenue per Form 990
$180,786,092
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$94,624,280
Other Expenses$45,020,234
Grants and Similar Amounts Paid$10,064,216
Total Fundraising Expense$1,193,964
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$68,529,432$10,653,271$950,352$80,133,055
Foreign Grants$9,808,822--$9,808,822
Depreciation Depletion$6,324,664$1,795,020-$8,119,684
Other Employee Benefits$6,062,593$1,596,745$105,907$7,765,245
Occupancy$2,642,121$5,041,929-$7,684,050
Office Expenses$5,992,489$972,211$60,328$7,025,028
Fees for Services Legal$4,307,531$2,701,797$7,328$7,016,656
Pension Plan Contributions$4,046,337$777,918-$4,824,255
All Other Expenses$3,127,158$532,471$33,649$3,693,278
Travel$2,241,265$389,222$13,076$2,643,563
Current Officers, Directors, Trustees, and Key Employees$797,366$1,104,359-$1,901,725
Interest$1,541,878$347,535$14$1,889,427
Insurance$60,955$397,358-$458,313
Other Expenses$282,805$20,263$16,287$319,355
Grants to Domestic Individuals$255,394--$255,394
Fees for Services Accounting$77,092$106,180-$183,272
Total Functional Expenses$119,992,735$28,522,029$1,193,964$149,708,730

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$149,708,728
Total Expenses per Audited Statements$149,708,728
Total Expenses per Form 990$149,708,728
International Activity

International Summary

Offices
2
Employees
974
Spending
$253,436,793

International Compliance

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 AmericaProgram ServicesEducation1709$119,992,735
North AmericaInvestments---$99,528,624
North AmericaMaintaining offices-1255$20,470,260
Europe (Including Iceland and Greenland)Investments---$6,326,347
East Asia and the PacificInvestments---$2,741,170
North AmericaFundraising--10$856,908
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
Yes
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Gaming Gross Income$116,257
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
10 for 10$64,134$64,134$415$63,719
Golf Tournament$35,009$35,009$251$34,758
Total Events$99,143$99,143$21,326$77,817
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Benefit Liabilities$33,530,862
Short Term Loan$24,558,080
Deferred Revenue$3,546,162
Derivative Instruments$387,455
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
Yes
Other officer compensation reviewed
Yes
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 7

The Board of Governors consists of 27 members, which includes the UPEI Chancellor; UPEI President; President of Holland College; nine members appointed by the Lieutenant Governor in Council, six members elected by the UPEI Board of Governors; two members elected by and from the UPEI Alumni Association; two members elected by and from the Senate of the University; two members elected by and from the Faculty of the University; and two members elected by and from the student body of the University.

Form 990, Part VI, Line 11B

Related information is provided to an external independent accounting firm, Doane Grant Thornton LLP, who is turn completed/reviews the Form 990 and related schedules and then files the return with the appropriate agency.

Form 990, Part VI, Line 15

Compensation of top management and other key employees is determined using comparable data obtained through compensation surveys and studies.

Form 990, Part VI, Line 9

Wendy Rodgers: Stewart McKelvey, 65 Grafton St, Box 2140, Charlottetown, PE C1A 8B9 Paul M. Kiley: Stewart McKelvey, 65 Grafton St, Box 2140, Charlottetown, PE C1A 8B9 Tim Walker: Stewart McKelvey, 65 Grafton St, Box 2140, Charlottetown, PE C1A 8B9 Murray L. Murphy: Stewart McKelvey, 65 Grafton St, Box 2140, Charlottetown, PE C1A 8B9 Breanne MacInnis: Stewart McKelvey, 65 Grafton St, Box 2140, Charlottetown, PE C1A 8B9 Perlene Morrison: Stewart McKelvey, 65 Grafton St, Box 2140, Charlottetown, PE C1A 8B9

Form 990 Part VI, Line 19

The organization makes its governing documents and financial statements available on the University's website.

Form 990, Part VII, Section A

All the employees are in Canada, therefore no reporting obligation of W-2/1099-MISC. However, compensation information is being reported on this form as actually paid in Canada.

Filing and Contact Details

Filer

Filer Name
University of Prince Edward Island
EIN
31-1682468
In Care Of
% TIMOTHY WALKER
Phone
9025660474
Address
CA

Signing Officer

Name
Timothy Walker
Title
VP- Admin & Finance
Phone
9025660360
Signed
2026-02-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Walker
Formed
1969
Voting Board Members
27
Independent Board Members
27
Employees
0
Volunteers
100

Preparer

Firm
Doane Grant Thornton Llp
Address
CA
Preparer
Amy Zhang
Phone
4163660100
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Other changes in net assets or fund balances: Change in pension liability ($4,488,893) Change in Derivative liability ($3,872,296) Change in FX translation ($21,578,944)

Financial Statement Notes

Schedule D

The University maintains a collection of historical artifacts and art of historical and cultural significance. Before being accepted by the University the work must meet certain criteria, namely: Does the works creator have a significant connection to Prince Edward Island or to the University? Does the work directly support teaching and research activity? Accordingly, works of art are only accepted if they meet the above, and other criteria. They further the purpose of the school in terms of cultural awareness and the ability to be used for research activities as well as various hands on teaching functions.

Schedule D

The endowment funds held by the University are used for various purposes such as sources of funds to award scholarships to students, and other purposes or intentions as set out by the donor.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm16Jonathan Spears

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