Civic Intelligence

Brock University

990 • Fiscal year 2021 • EIN 98-0052780

May 01, 2020 to Apr 30, 2021 • Filed on Mar 09, 2022

1812 Sir Isaac Brock WaySt Catharines, ON L2S 3A1CA

(905) 688-5550

Siviq Scores

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

Liabilities / Assets

80th percentile

0.70x

Higher debt load relative to assets than 80% of similar nonprofits.

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

Liabilities / Revenue

84th percentile

1.80x

Higher debt load relative to revenue than 84% of similar nonprofits.

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

Net Margin

38th percentile

4.7%

Higher net margin than 38% of similar nonprofits.

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

Top Officer Pay

12th percentile

$282,056

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.1% of source-year revenue.

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

Asset Growth

92nd percentile

40%

Faster asset growth than 92% of similar nonprofits.

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

Revenue Growth

20th percentile

-0.7%

Faster revenue growth than 20% of similar nonprofits.

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

Assets

Up

$689,563,670

Up $196,975,554 (+40%) from 2020

Net Assets

Up

$209,926,294

Up $43,650,475 (+26%) from 2020

Liabilities

Up

$479,637,376

Up $153,325,079 (+47%) from 2020

Revenue

Down

$266,770,231

Down $1,801,260 (-0.7%) from 2020

Expenses

Down

$254,203,755

Down $2,446,429 (-1.0%) from 2020

Net Income

Up

$12,566,476

Up $645,169 (+5.4%) from 2020

Historical Trend

Balance Sheet Trend

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

$800M$600M$400M$200M$0Assets 2011: $390,855,101Liabilities 2011: $333,762,299Net Assets 2011: $57,092,8022011Assets 2012: $427,997,598Liabilities 2012: $368,255,662Net Assets 2012: $59,741,9362012Assets 2013: $492,312,325Liabilities 2013: $398,047,369Net Assets 2013: $94,264,9562013Assets 2014: $476,543,106Liabilities 2014: $373,467,549Net Assets 2014: $103,075,5572014Assets 2015: $468,889,269Liabilities 2015: $332,714,390Net Assets 2015: $136,174,8792015Assets 2016: $452,548,119Liabilities 2016: $323,162,154Net Assets 2016: $129,385,9652016Assets 2017: $451,389,178Liabilities 2017: $307,704,142Net Assets 2017: $143,685,0362017Assets 2018: $498,459,610Liabilities 2018: $349,559,576Net Assets 2018: $148,900,0342018Assets 2019: $504,076,685Liabilities 2019: $334,671,135Net Assets 2019: $169,405,5502019Assets 2020: $492,588,116Liabilities 2020: $326,312,297Net Assets 2020: $166,275,8192020Assets 2021: $689,563,670Liabilities 2021: $479,637,376Net Assets 2021: $209,926,2942021Assets 2022: $670,515,983Liabilities 2022: $473,448,445Net Assets 2022: $197,067,5382022Assets 2023: $619,206,705Liabilities 2023: $424,543,237Net Assets 2023: $194,663,4682023Assets 2024: $603,069,505Liabilities 2024: $417,251,812Net Assets 2024: $185,817,6932024Assets 2025: $589,777,502Liabilities 2025: $415,918,429Net Assets 2025: $173,859,0732025

Highlighted filing

2021

Assets$689,563,670
Liabilities$479,637,376
Net Assets$209,926,294

Operations Trend

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

$400M$300M$200M$100M$0-$100MRevenue 2011: $254,592,862Expenses 2011: $260,441,889Net Income 2011: -$5,849,0272011Revenue 2012: $268,967,198Expenses 2012: $271,258,613Net Income 2012: -$2,291,4152012Revenue 2013: $284,875,662Expenses 2013: $276,664,452Net Income 2013: $8,211,2102013Revenue 2014: $273,698,105Expenses 2014: $269,719,988Net Income 2014: $3,978,1172014Revenue 2015: $265,652,101Expenses 2015: $250,955,695Net Income 2015: $14,696,4062015Revenue 2016: $230,862,170Expenses 2016: $227,463,356Net Income 2016: $3,398,8142016Revenue 2017: $241,275,080Expenses 2017: $232,046,038Net Income 2017: $9,229,0422017Revenue 2018: $267,345,221Expenses 2018: $251,888,717Net Income 2018: $15,456,5042018Revenue 2019: $271,200,700Expenses 2019: $252,341,207Net Income 2019: $18,859,4932019Revenue 2020: $268,571,491Expenses 2020: $256,650,184Net Income 2020: $11,921,3072020Revenue 2021: $266,770,231Expenses 2021: $254,203,755Net Income 2021: $12,566,4762021Revenue 2022: $291,417,811Expenses 2022: $285,356,739Net Income 2022: $6,061,0722022Revenue 2023: $286,920,446Expenses 2023: $289,534,629Net Income 2023: -$2,614,1832023Revenue 2024: $292,598,501Expenses 2024: $301,400,447Net Income 2024: -$8,801,9462024Revenue 2025: $301,006,472Expenses 2025: $300,004,515Net Income 2025: $1,001,9572025

Highlighted filing

2021

Revenue$266,770,231
Expenses$254,203,755
Net Income$12,566,476
Jump To
Filing Snapshot
Filing Period
May 1, 2020 to Apr 30, 2021
Signed
Mar 9, 2022
Return Version
2020v4.2
Gross Receipts
$271,563,275
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$317,630,142$392,112,829▲ $74,482,687
Investments in Publicly Traded Securities$109,113,204$168,225,989▲ $59,112,785
Savings and Temporary Cash Investments$41,944,939$98,283,093▲ $56,338,154
Accounts Receivable$17,577,105$24,906,664▲ $7,329,559
Pledges and Grants Receivable$3,438,499$3,882,417▲ $443,918
Inventories for Sale or Use$1,104,230$1,141,420▲ $37,190
Prepaid Expenses and Deferred Charges$282,528$359,244▲ $76,716
Total Assets$492,588,116$689,563,670▲ $196,975,554
Other Assets Total$1,497,469$652,014▼ $845,455
Liabilities
Mortgage Notes Payable Secured by Investment Property$100,242,697$213,403,724▲ $113,161,027
Deferred Revenue$175,034,178$205,293,403▲ $30,259,225
Accounts Payable and Accrued Expenses$28,275,767$36,112,435▲ $7,836,668
Other Liabilities$22,759,655$24,827,814▲ $2,068,159
Total Liabilities$326,312,297$479,637,376▲ $153,325,079
Net Assets / Fund Balance
Net Assets With Donor Restrictions$166,208,961$209,843,502▲ $43,634,541
Net Assets Without Donor Restrictions$66,858$82,792▲ $15,934
Total Net Assets Fund Balance$166,275,819$209,926,294▲ $43,650,475
Total Liabilities and Net Assets / Fund Balance$492,588,116$689,563,670▲ $196,975,554

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$266,327,555$172,034,165$433,412,874
Leasehold Improvements$57,416,812$46,823,404$104,240,216
Other Land Buildings$4,885,314$49,630,643$54,515,957
Equipment$18,876,077$30,018,843$48,894,920
Land$44,607,071-$18,152,071

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$74,690,884$2,380,709▲ $15,215,846-$100,781,112
2019$79,734,363$1,011,848▼ $1,162,407-$74,690,884
2018$75,316,387$1,433,084▲ $8,300,384-$79,734,363
2017$70,543,728$1,004,525▲ $3,236,413-$75,316,387
2016$64,830,688$1,243,488▲ $8,390,934-$70,543,728
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gervan FearonPresident & Vice-chancellorFT$243,679$38,377$282,056
Dirk DeclercqProfessorFT$248,622$18,935$267,557
Fayez ElayanProfessorFT$227,832$18,935$246,767
Martin KusyProfessorFT$235,083$5,452$240,535
Eugene KaciakProfessorFT$207,809$18,935$226,744
Sheng DengProfessorFT$201,962$19,107$221,069
Greg FinnIntrm Prov/VP Acad(thru Jun 30,2020)FT$195,871$18,839$214,710
Tim KenyonVice-president, ResearchFT$188,114$18,839$206,953
Don CyrFaculty TrusteeFT$170,706$18,935$189,641
Gary LibbenFormer VP, ResearchFT$167,170$18,935$186,105
Jens CoorssenFaculty TrusteeFT$160,465$18,935$179,400
Tom DunkFrmr Interim Provost & VP AcademicFT$153,313$19,251$172,564
Joffre MercierFormer Interim VP, ResearchFT$152,752$19,470$172,222
Miriam RichardsFaculty TrusteeFT$139,208$18,364$157,572
Jack LightstoneFormer President & Vice-chancellorFT$120,670$18,935$139,605
Chabriol ColebatchSecretaryFT$116,867$15,225$132,092
Lynn WellsProv/VP Academic (as of Jul 1, 20)FT$92,872$13,088$105,960
Bradley ClarkeStaff TrusteeFT$86,444$12,487$98,931
Giulia ForsytheStaff Trustee (thru June 30, 2020)FT$70,379$10,536$80,915
Trecia MclennonStaff Trustee (as of July 1, 2020)FT$47,729$8,943$56,672

Board Members and Trustees

NameTitle
Christopher YendtStudent Trustee
Asad JalibStudent Trustee (as of July 1, 2020)
Bilal KhanStudent Trustee (thru June 30, 2020)
Anne MccourtTrustee
Bill MaurinTrustee
Brian LangTrustee
Elizabeth M ZimmermannTrustee
Gary ComerfordTrustee
John E FisherTrustee
MARYLEE O'NEILLTrustee
Mark ArthurTrustee
Mary DesousaTrustee
Michelle-elise BurnettTrustee
Robert WelchTrustee
Sophia AggelonitisTrustee
William G RickersTrustee
Arti FreemanTrustee (as of July 1, 2020)
Debbie ZimmermannTrustee (as of July 1, 2020)
Erin MathanyTrustee (as of July 1, 2020)
Kristian KnibutatTrustee (as of July 1, 2020)
Beverley MordenTrustee (thru June 30, 2020)
Chris PhillipsTrustee (thru June 30, 2020)
Mario De DivitiisTrustee (thru June 30, 2020)
Robin WilliamsTrustee (thru June 30, 2020)
Hilary PearsonChancellor (as of October 16, 2020)
Shirley CheechooChancellor (thru October 16, 2020)

Highest Paid Contractors

ContractorServicesLocationCompensation
GardaSecurity54 CENTENNIAL PKWY, North Hamilton, ONTARIO, Ca$746,851
Ethical Associates INCLegal225 WELLESLEY ST EAST SUITE 904, Toronto, ONTARIO, Ca$655,741
Bothwell-accurate Co INCEngineering And Construction6675 REXWOOD RD, Mississauga, ONTARIO, Ca$622,189
Workday LimitedSoftwareTHE KINGS BUILDING 152-155 CHURCH, Arran Quay, DUBLIN, Ei$591,994
Architects Tillmann Ruth Robinson INCEngineering And Construction200 QUEENS AVE SUITE 700, London, ONTARIO, Ca$587,485
Revenue and Support

Revenue Composition

Contributions and Grants
$90,980,266
Program Service Revenue
$151,782,931
Investment Income
$11,697,967
Other Revenue
$12,309,067
All Other Contributions
$6,904,752
Change in Net Assets
$12,566,476

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
Historical Artifacts4$266,252Appraised by Third Party
Other Non Cash Contri Table2$153,694Appraised by Library
Books and Publications-$32,986Appraised by the Library
Securities Publicly Traded3$28,908Fair Market Value (FMV) on Date of Donation
Other Non Cash Contri Table3$13,651Insurance Company Re
Total Noncash Contributions12$495,491-

Audited Revenue Reconciliation

Revenue per Audited Statements
$268,348,336
Revenue Not Reported on Financial Statements
$-1,578,105
Revenue Not Reported on Form 990
$7,782,094
Other Revenue Adjustments
$-3,457,051
Total Revenue per Audited Statements
$276,130,430
Total Revenue per Form 990
$266,770,231
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$166,360,204
Other Expenses$69,049,416
Grants and Similar Amounts Paid$18,794,135
Total Fundraising Expense$1,110,151
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$118,285,672$18,123,808$741,684$137,151,164
Foreign Grants$18,611,492--$18,611,492
Depreciation Depletion$15,188,736$414,527$26,085$15,629,348
Payroll Taxes$8,991,499$1,422,522$56,044$10,470,065
Occupancy$4,107,305$6,022,365$4,868$10,134,538
Pension Plan Contributions$8,286,653$1,311,010$51,651$9,649,314
Interest$997,952$7,015,844-$8,013,796
Other Employee Benefits$6,596,250$1,043,576$41,115$7,680,941
Information Technology$2,926,587$918,368$74,498$3,919,453
Fees for Services Other$1,051,439$825,650$21,084$1,898,173
Fees for Service Investment Mgmnt Fees-$1,878,946-$1,878,946
Office Expenses$912,216$588,784$6,009$1,507,009
Advertising$1,367,164$61,287$38,966$1,467,417
Current Officers, Directors, Trustees, and Key Employees$706,999$701,721-$1,408,720
Fees for Services Legal$154,684$801,948-$956,632
Other Expenses$724,431$130,776$5,429$860,636
Insurance$72,572$774,186-$846,758
Grants to Domestic Individuals$182,643--$182,643
Travel$91,620$21,187$294$113,101
Conferences and Meetings$87,321$9,119$2,618$99,058
Fees for Services Accounting$1,080$91,693-$92,773
Total Functional Expenses$206,339,150$46,754,454$1,110,151$254,203,755

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$255,781,860
Total Expenses per Form 990$254,203,755
Expenses per Audited Statements$252,324,809
Expenses Not Reported on Form 990$3,457,051
Expenses Not Reported on Financial Statements$1,878,946
International Activity

International Summary

Offices
3
Employees
5,221
Spending
$422,247,101

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
Yes
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 Service ExpenseEducation & Research35,221$187,545,015
North AmericaNon-us InvestmentsInvestment00$168,225,989
North AmericaManagement and GeneralEducation & Research00$46,754,454
North AmericaProgram Service ExpenseScholarship00$14,350,014
North AmericaFundraising ExpensesEducation & Research00$1,110,151
South AsiaProgram Service ExpenseScholarship00$1,056,505
East Asia and the PacificProgram Service ExpenseScholarship00$883,492
Middle East and North AfricaProgram Service ExpenseScholarship00$739,152
Sub-saharan AfricaProgram Service ExpenseScholarship00$646,864
Europe (including Iceland & Greenland)Program Service ExpenseScholarship00$268,787
South AmericaProgram Service ExpenseScholarship00$255,414
Russia and Neighboring StatesProgram Service ExpenseScholarship00$219,343
Central America and the CaribbeanProgram Service ExpenseScholarship00$191,921
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$1,224
Fundraising Direct Expenses$67
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Benefit Obligation$24,827,814
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
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, Section B, Line 11B

Form 990 is prepared and reviewed by financial services. It is available to any senior administrator or board of trustee member upon request. The form 990 is also reviewed by outside tax advisors.

Form 990, Part VI, Section B, Line 12C

The associate vice-president of human resources is responsible for maintaining compliance with the conflict-of-interest policy (https://brocku.ca/policies/). Senior management must ensure this policy is made known to members within their respective units. The associate vice-president of human resources reports all confirmed conflicts to the appropriate committee of the board of trustees. The board of trustees conflict of interest policy is available at https://brocku.ca/university-secretariat/board-of-trustees/resources/. The chair of the board is responsible for ensuring compliance and does this by regular training of board members on conflicts of interest and by ensuring there is a call for disclosure of any conflicts at the beginning of each board, committee and subcommittee meeting.

Form 990, Part VI, Section B, Line 15

All compensation for senior employees is managed through the human resources department and approved by the human resources committee of the board of trustees. Compensation is determined with consideration of relevant comparators. Decisions are documented in meeting minutes, which outline the board's approval.

Form 990, Part VI, Section C, Line 19

The university's bylaws, policies and financial statements are all available on the university's website (www.brocku.ca).

Filing and Contact Details

Filer

Filer Name
Brock University
EIN
98-0052780
Phone
9056885550
Address
CA

Signing Officer

Name
Joshua Tonnos
Title
CFO & Avp Finance
Signed
2022-03-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gervan Fearon
Formed
1964
Voting Board Members
26
Independent Board Members
21
Employees
5,221
Volunteers
800

Preparer

Firm
Kpmg Llp
Address
60 SOUTH STREET TWO FINANCIAL, CENTER, BOSTON, MA 02111
Preparer
Smita Baliga
Phone
6179881000
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

Teaching and research in broadly based undergraduate and graduate education and interdisciplinary programs.

FORM 990, PART I, LINE 5:

Brock university has no employees in the united states and does not file a form w-3.

FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION:

Brock flourishes through the scholarly, creative, and professional achievements of its students, faculty, and staff. Offering a range of undergraduate and graduate programs, brock fosters teaching and research of the highest quality. As a diverse and inclusive community, brock contributes to canada and beyond through imagination, innovation, and commitment.

FORM 990, PART V, LINE 2A:

Brock university has no employees in the united states and does not file a form w-3. All of brock university's employees are canadian residents. The university reports these employees on canada form t4 summary, which is the equivalent of united states' federal form w-3.

FORM 990, PART V, LINE 3B:

The university does not file a form 990-t to report unrelated business taxable income because none of the unrelated business taxable income is effectively connected with the conduct of a trade or business within the united states, and none of the unrelated business taxable income is derived from sources within the united states.

FORM 990, PART V, LINE 7:

The university may receive contributions from taxpayers who claim a tax deduction on their us income tax return. However, since the university is an entity that is organized and operating in canada, any tax deductions claimed on a us income tax return is claimed under the united states-canada income tax treaty and not under internal revenue code section 170(c).

FORM 990, PART XI, LINE 9:

Current year endowment effects of foreign exchange rates 23,302,077. Pension obligation -272,475.

Financial Statement Notes

PART III, LINE 4:

Contributed works of art are recorded as revenue and expense, at fair market value, at the date of contribution. Artwork purchases are expensed as acquired. The contributed works of art enhance program delivery of many degree programs (visual arts, history, classics, comparative literatures & arts, and medieval and renaissance studies).

PART V, LINE 4:

The endowment funds are restricted contributions received by the university and unrestricted donations are internally designated by the board of trustees. The principal is required to be maintained intact. The investment income generated from the endowment must be used in accordance with the various purposes established by donors or the board of trustees.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Actuarial loss in employee future benefits -272,304.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Cost of goods sold related to the campus bookstore -3,457,051.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold related to the campus bookstore 3,457,051.

PART V, LINE 1F:

Administrative expenses includes the adjustment related to the change in the foreign exchange rates from the prior year to current year.

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IRS990/Desc0INCORPORATED IN 1964, BROCK UNIVERSITY HAS CONTINUALLY DEVELOPED RIGOROUS UNDERGRADUATE, GRADUATE, AND DOCTORAL PROGRAMS, INCLUDING EXPERIENTIAL LEARNING OPPORTUNITIES AND ONE OF CANADA'S LARGEST CO-OP PROGRAMS. TOTAL STUDENT HEADCOUNT FOR 2020-2021 WAS OVER 19,000 STUDENTS. BROCK HAS 7 ACADEMIC FACULTIES: APPLIED HEALTH SCIENCES, GOODMAN SCHOOL OF BUSINESS, EDUCATION, HUMANITIES, MATHEMATICS AND SCIENCE, SOCIAL SCIENCES, AND GRADUATE STUDIES. BROCK HAS A TOTAL FACULTY OF 600 AND 8 CANADA RESEARCH CHAIRS. BROCK IS A COMPREHENSIVE UNIVERSITY WITH STRONG ACADEMIC PROGRAMMING AND CUTTING EDGE RESEARCH DONE IN WORLD-CLASS FACILITIES. BROCK OFFERS MORE THAN 120 UNDERGRADUATE AND GRADUATE PROGRAMS.
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$590$416$174$301$300$1.00
2024Detailed filing. Detailed filing data is available for this year.$603$417$186$293$301$8.80
2023Detailed filing. Detailed filing data is available for this year.$619$425$195$287$290$2.61
2022Detailed filing. Detailed filing data is available for this year.$671$473$197$291$285$6.06
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$690$480$210$267$254$12.6
2020Summary only. Only limited summary data is available for this year.$493$326$166$269$257$11.9
2019Summary only. Only limited summary data is available for this year.$504$335$169$271$252$18.9
2018Summary only. Only limited summary data is available for this year.$498$350$149$267$252$15.5
2017Summary only. Only limited summary data is available for this year.$451$308$144$241$232$9.23
2016Summary only. Only limited summary data is available for this year.$453$323$129$231$227$3.40
2015Summary only. Only limited summary data is available for this year.$469$333$136$266$251$14.7
2014Summary only. Only limited summary data is available for this year.$477$373$103$274$270$3.98
2013Summary only. Only limited summary data is available for this year.$492$398$94.3$285$277$8.21
2012Summary only. Only limited summary data is available for this year.$428$368$59.7$269$271$2.29
2011Summary only. Only limited summary data is available for this year.$391$334$57.1$255$260$5.85