Civic Intelligence

Mount Allison University

990 • Fiscal year 2021 • EIN 98-0033473

May 01, 2020 to Apr 30, 2021 • Filed on Mar 15, 2022

65 York StreetSackville, New Brunswick E4L 1E4CA

(506) 364-2525

Siviq Scores

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

Liabilities / Assets

44th percentile

0.25x

Higher debt load relative to assets than 44% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Liabilities / Revenue

77th percentile

1.09x

Higher debt load relative to revenue than 77% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Net Margin

73rd percentile

21%

Higher net margin than 73% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Top Officer Pay

6th percentile

$200,404

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2021

Asset Growth

83rd percentile

28%

Faster asset growth than 83% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Revenue Growth

78th percentile

29%

Faster revenue growth than 78% of similar nonprofits.

2021 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2020 to 2021

Assets

Up

$308,651,920

Up $67,021,457 (+28%) from 2020

Net Assets

Up

$231,012,716

Up $61,374,451 (+36%) from 2020

Liabilities

Up

$77,639,204

Up $5,647,006 (+7.8%) from 2020

Revenue

Up

$71,170,704

Up $15,808,175 (+29%) from 2020

Expenses

Down

$55,883,967

Down $1,279,480 (-2.2%) from 2020

Net Income

Up

$15,286,737

Up $17,087,655 (+949%) from 2020

Historical Trend

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2011: $228,875,169Liabilities 2011: $73,331,544Net Assets 2011: $155,543,6252011Assets 2012: $225,680,198Liabilities 2012: $69,015,376Net Assets 2012: $156,664,8222012Assets 2013: $245,629,645Liabilities 2013: $78,784,326Net Assets 2013: $166,845,3182013Assets 2014: $245,304,366Liabilities 2014: $76,450,944Net Assets 2014: $168,853,4222014Assets 2015: $244,409,011Liabilities 2015: $68,346,782Net Assets 2015: $176,062,2292015Assets 2016: $231,298,874Liabilities 2016: $68,326,089Net Assets 2016: $162,972,7852016Assets 2017: $231,509,393Liabilities 2017: $63,636,401Net Assets 2017: $167,872,9922017Assets 2018: $257,754,430Liabilities 2018: $72,932,981Net Assets 2018: $184,821,4492018Assets 2019: $256,530,893Liabilities 2019: $72,147,800Net Assets 2019: $184,383,0932019Assets 2020: $241,630,463Liabilities 2020: $71,992,198Net Assets 2020: $169,638,2652020Assets 2021: $308,651,920Liabilities 2021: $77,639,204Net Assets 2021: $231,012,7162021Assets 2022: $300,806,982Liabilities 2022: $76,006,411Net Assets 2022: $224,800,5712022Assets 2023: $298,644,680Liabilities 2023: $81,605,490Net Assets 2023: $217,039,1902023Assets 2024: $325,778,592Liabilities 2024: $99,873,105Net Assets 2024: $225,905,4872024Assets 2025: $342,054,155Liabilities 2025: $107,815,950Net Assets 2025: $234,238,2052025

Highlighted filing

2021

Assets$308,651,920
Liabilities$77,639,204
Net Assets$231,012,716

Operations Trend

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

$100M$50M$0-$50MRevenue 2011: $69,724,710Expenses 2011: $59,201,261Net Income 2011: $10,523,4492011Revenue 2012: $71,282,478Expenses 2012: $61,902,667Net Income 2012: $9,379,8112012Revenue 2013: $80,694,560Expenses 2013: $63,961,882Net Income 2013: $16,732,6782013Revenue 2014: $68,820,729Expenses 2014: $59,796,614Net Income 2014: $9,024,1152014Revenue 2015: $71,040,938Expenses 2015: $56,588,707Net Income 2015: $14,452,2312015Revenue 2016: $51,114,927Expenses 2016: $51,502,378Net Income 2016: -$387,4512016Revenue 2017: $58,701,960Expenses 2017: $52,121,625Net Income 2017: $6,580,3352017Revenue 2018: $59,857,143Expenses 2018: $54,585,658Net Income 2018: $5,271,4852018Revenue 2019: $57,983,535Expenses 2019: $54,221,265Net Income 2019: $3,762,2702019Revenue 2020: $55,362,529Expenses 2020: $57,163,447Net Income 2020: -$1,800,9182020Revenue 2021: $71,170,704Expenses 2021: $55,883,967Net Income 2021: $15,286,7372021Revenue 2022: $66,105,843Expenses 2022: $62,928,621Net Income 2022: $3,177,2222022Revenue 2023: $87,487,465Expenses 2023: $63,713,471Net Income 2023: $23,773,9942023Revenue 2024: $78,996,621Expenses 2024: $64,521,427Net Income 2024: $14,475,1942024Revenue 2025: $68,850,017Expenses 2025: $66,598,539Net Income 2025: $2,251,4782025

Highlighted filing

2021

Revenue$71,170,704
Expenses$55,883,967
Net Income$15,286,737
Jump To
Filing Snapshot
Filing Period
May 1, 2020 to Apr 30, 2021
Signed
Mar 15, 2022
Return Version
2020v4.1
Gross Receipts
$87,126,574
Mission and Program Overview

Mission

Provides rigorous liberal education primarily to undergraduate students in a co-educational, intimate residential environment. Provides scholarships, bursaries, and awards to students. Please see www.mta.ca for a full description of the university's activities.

Provides rigorous liberal education primarily to undergraduate students in a co-educational environment. Provides scholarships, bursaries, and awards to students. www.mta.ca

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$131,052,053$185,635,993▲ $54,583,940
Investments in Publicly Traded Securities$138,568,179$182,275,805▲ $43,707,626
Land, Buildings, and Equipment, Net$97,844,780$108,733,570▲ $10,888,790
Pd in Cap Srpls Land Bldg Eqp Fund$38,586,212$45,376,723▲ $6,790,511
Cash and Non-Interest-Bearing Accounts$154,171$6,639,676▲ $6,485,505
Accounts Receivable$1,249,593$2,091,096▲ $841,503
Prepaid Expenses and Deferred Charges$758,580$856,453▲ $97,873
Savings and Temporary Cash Investments$250,896$552,765▲ $301,869
Inventories for Sale or Use$388,584$340,134▼ $48,450
Pledges and Grants Receivable$1,360,541$324,452▼ $1,036,089
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$241,630,463$308,651,920▲ $67,021,457
Other Assets Total$1,055,139$6,837,969▲ $5,782,830
Liabilities
Other Liabilities$66,684,504$70,363,212▲ $3,678,708
Accounts Payable and Accrued Expenses$4,013,696$6,140,169▲ $2,126,473
Deferred Revenue$1,293,998$1,135,823▼ $158,175
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$71,992,198$77,639,204▲ $5,647,006
Net Assets / Fund Balance
Total Net Assets Fund Balance$169,638,265$231,012,716▲ $61,374,451
Total Liabilities and Net Assets / Fund Balance$241,630,463$308,651,920▲ $67,021,457

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$106,170,567$109,846,132$216,016,699
Equipment$2,563,002$18,002,059$20,656,061
Land$1-$1

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$171,218,416$5,847,586▲ $24,249,852-$201,315,854
2019$178,964,031$2,114,066▼ $9,859,681-$171,218,416
2018$172,602,752$1,241,137▲ $5,120,142-$178,964,031
2017$168,170,991$5,279,833▼ $848,072-$172,602,752
2016$153,293,958$957,935▲ $13,919,098-$168,170,991
Compensation and Service Providers

Employees

NameTitleBaseTotal
Boudreau Jean-PaulPresident and Vice-chancelor$200,404$200,404
Ollerhead JeffPast-Provost & VP, Academic$143,818$143,818
Jollymore GloriaVP, University Advancement$139,510$139,510
Hennessy JeffProvost & VP, Academic & Resea$133,220$133,220
Inglis RobertVP of Finance and Admin$133,085$133,085
Steuter ErinProfessor; Department Head$132,179$132,179
Meade KimVP, Intl & Student Affairs$128,882$128,882
Berry PaulDepartment Head; Asso. Prof.$128,399$128,399
Lloyd VettRegent and Full-time Faculty$118,167$118,167
Wilson AndrewRegent and Full-time Faculty$115,534$115,534
MacIntosh BarbaraController$93,972$93,972
Milner ChrisBudget Director$72,871$72,871
Titarenko EmelyanaRegent$135$135
Ferguson JonathanRegent$96$96

Highest Paid Contractors

ContractorServicesLocationCompensation
AramarkFood Service-$1,969,211
Exp Services IncArchitecture-$372,054
Avondale Construction LimitedConstruction-$290,982
Siemens Canada LimitedVentilation-$286,481
Flynn Canada LtdRoofing-$120,070
Revenue and Support

Revenue Composition

Contributions and Grants
$31,445,622
Program Service Revenue
$24,592,401
Investment Income
$-13,211,188
Other Revenue
$28,343,869
All Other Contributions
$10,441,962
Change in Net Assets
$15,286,737

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded47$2,040,042Fair Market Value (FMV)
Other Non Cash Contri Table1$1,212Fair Market Value (FMV)
Total Noncash Contributions48$2,041,254-

Audited Revenue Reconciliation

Revenue per Audited Statements
$66,098,879
Revenue Not Reported on Financial Statements
$5,071,825
Other Revenue Adjustments
$5,071,825
Total Revenue per Audited Statements
$66,098,879
Total Revenue per Form 990
$71,170,704
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$33,033,121
Other Expenses$17,593,101
Grants and Similar Amounts Paid$4,414,309
Total Fundraising Expense$1,514,898
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$25,087,991$2,363,317$1,104,680$28,555,988
Information Technology$5,875,122$457,724$134,183$6,467,029
Depreciation Depletion$4,470,340--$4,470,340
Foreign Grants$4,414,309--$4,414,309
Occupancy$3,358,888--$3,358,888
Pension Plan Contributions$1,754,141$220,801$77,238$2,052,180
Payroll Taxes$1,120,500$141,042$49,338$1,310,880
Royalties$839,270$60,753$2,456$902,479
Benefits to Members$843,436--$843,436
Current Officers, Directors, Trustees, and Key Employees-$794,612-$794,612
Fees for Services Management$445,248--$445,248
Travel$349,706$36,220$2,657$388,583
Fees for Services Legal$8,759$370,845-$379,604
Other Employee Benefits$273,066$34,372$12,023$319,461
Insurance$255,104--$255,104
Office Expenses$50,835$60,010$132,323$243,168
Interest$210,588$29,973-$240,561
Fees for Service Investment Mgmnt Fees$67,827$117,203-$185,030
Other Expenses-$133,599-$133,599
Advertising$68,956--$68,956
Fees for Services Accounting$22,445$32,011-$54,456
Conferences and Meetings$56--$56
Total Functional Expenses$49,516,587$4,852,482$1,514,898$55,883,967

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$56,417,174
Expenses per Audited Statements$55,883,967
Total Expenses per Form 990$55,883,967
Expenses Not Reported on Form 990$533,207
International Activity

International Summary

Offices
4
Employees
4,656
Spending
$55,883,967

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 AmericaProgram ServicesAcademic11,164$24,198,879
North AmericaMaintaining officesBuilding and Maintenan11,164$11,267,822
North AmericaProgram ServicesStudent Services11,164$10,887,465
North AmericaMaintaining officesAdministrative11,164$9,529,801
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
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
Deferred Contributions$70,363,212
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section B Line 12C

Mount Allison University has a code of business conduct that has a procedure for questioning financial information and compliance with this code.

Part VI, Section B Line 15B

Mount Allison University has a separate Human Resources committee that is part of the Board to help determine compensation of key employees.

Part VI, Section C Line 19

All policies and procedures are listed under Mount Allison University: www.mta.ca

Part VI, 11B

The form 990 is prepared by one person and the reviewing by two individuals. This provides segregation of preparation and review process.

Filing and Contact Details

Filer

Filer Name
Mount Allison University
EIN
98-0033473
In Care Of
% GUYLAINE ROY CPACA
Phone
5063642525
Address
CA

Signing Officer

Name
Guylaine Roy
Title
Director Fin. Contr.
Phone
5063642243
Signed
2022-03-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Jean-Paul Boudreau
Formed
1849
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

Firm
Grant Thornton LLP
Address
CA
Preparer
Bruno Godin
Phone
5068570100
Supplemental Narrative

Additional Explanations

Part XI Line 9

Adjustment on transaction from Canadian to US currency.

Financial Statement Notes

Part III, Line 4 - Description of Collection

The Owens Art Gallery permanent collection consists of approximately 3,500 works, including historical and contemporary paintings, works on paper and sculptures of Canadian, European and American origin. The historical component of the collection consists of approximately 300 18th and 19th century paintings and watercolours and a large collection of works by John Hammond. The contemporary collection consists of American and Canadian prints as well as paintings, sculptures, photography and drawings. For the year ended April 30, 2021, donated artwork valued at approximately XXX (2020 - $8,872) and purchased acquisitions of approximately $XXX ($51,660) were added to the permanent collection.

Part V, Line 4

The Endowment Funds are used to support financial aid and the academic mission of the University.

Part XI, Line 4B

$5,071,825) Revenue adjustment for deferred donations that are restricted.

Part XII, Line 2D

$533,206 Cost of Goods Sold are recorded in the Expenditures side of the Financial Statements

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IRS990/Form990PartVIISectionAGrp/PersonNm1Ollerhead Jeff
IRS990/Form990PartVIISectionAGrp/PersonNm2Jollymore Gloria
IRS990/Form990PartVIISectionAGrp/PersonNm3Hennessy Jeff
IRS990/Form990PartVIISectionAGrp/PersonNm4Inglis Robert
IRS990/Form990PartVIISectionAGrp/PersonNm5Steuter Erin
IRS990/Form990PartVIISectionAGrp/PersonNm6Meade Kim
IRS990/Form990PartVIISectionAGrp/PersonNm7Berry Paul
IRS990/Form990PartVIISectionAGrp/PersonNm8Lloyd Vett
IRS990/Form990PartVIISectionAGrp/PersonNm9Wilson Andrew
IRS990/Form990PartVIISectionAGrp/PersonNm10MacIntosh Barbara
IRS990/Form990PartVIISectionAGrp/PersonNm11Milner Chris
IRS990/Form990PartVIISectionAGrp/PersonNm12Titarenko Emelyana
IRS990/Form990PartVIISectionAGrp/PersonNm13Ferguson Jonathan
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT AND VICE-CHANCELOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1Past-Provost & VP, Academic
IRS990/Form990PartVIISectionAGrp/TitleTxt2VP, University Advancement
IRS990/Form990PartVIISectionAGrp/TitleTxt3Provost & VP, Academic & Resea
IRS990/Form990PartVIISectionAGrp/TitleTxt4VP of Finance and Admin
IRS990/Form990PartVIISectionAGrp/TitleTxt5Professor; Department Head
IRS990/Form990PartVIISectionAGrp/TitleTxt6VP, Intl & Student Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt7Department Head; Asso. Prof.
IRS990/Form990PartVIISectionAGrp/TitleTxt8REGENT AND FULL-TIME FACULTY
IRS990/Form990PartVIISectionAGrp/TitleTxt9REGENT AND FULL-TIME FACULTY
IRS990/Form990PartVIISectionAGrp/TitleTxt10Controller
IRS990/Form990PartVIISectionAGrp/TitleTxt11Budget Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Regent
IRS990/Form990PartVIISectionAGrp/TitleTxt13Regent
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IRS990/MissionDesc0Provides rigorous liberal education primarily to undergraduate students in a co-educational, intimate residential environment. Provides scholarships, bursaries, and awards to students. Please see www.mta.ca for a full description of the University's activities.
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IRS990/PrincipalOfficerNm0Dr Jean-Paul Boudreau
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt06258750
IRS990/ProgSrvcAccomActy3Grp/Desc0Sales
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$342$108$234$68.9$66.6$2.25
2024Detailed filing. Detailed filing data is available for this year.$326$99.9$226$79.0$64.5$14.5
2023Detailed filing. Detailed filing data is available for this year.$299$81.6$217$87.5$63.7$23.8
2022Detailed filing. Detailed filing data is available for this year.$301$76.0$225$66.1$62.9$3.18
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$309$77.6$231$71.2$55.9$15.3
2020Summary only. Only limited summary data is available for this year.$242$72.0$170$55.4$57.2$1.80
2019Summary only. Only limited summary data is available for this year.$257$72.1$184$58.0$54.2$3.76
2018Summary only. Only limited summary data is available for this year.$258$72.9$185$59.9$54.6$5.27
2017Summary only. Only limited summary data is available for this year.$232$63.6$168$58.7$52.1$6.58
2016Summary only. Only limited summary data is available for this year.$231$68.3$163$51.1$51.5$0.39
2015Summary only. Only limited summary data is available for this year.$244$68.3$176$71.0$56.6$14.5
2014Summary only. Only limited summary data is available for this year.$245$76.5$169$68.8$59.8$9.02
2013Summary only. Only limited summary data is available for this year.$246$78.8$167$80.7$64.0$16.7
2012Summary only. Only limited summary data is available for this year.$226$69.0$157$71.3$61.9$9.38
2011Summary only. Only limited summary data is available for this year.$229$73.3$156$69.7$59.2$10.5
Peer Organizations

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