Toronto Metropolitan University

“Did the organization have members or stockholders: No”

“Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? No”

“Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? N/A”

“Form 990 is reviewed by the controller before filing, and is available for all members of its governing body upon request.”

“Executive and CEO compensation is prepared by HR in compliance with Ontario laws and reviewed and approved by the independent audit committee of the board. For directors and senior leaders, compensation is determined by HR in compliance with Ontario laws and the university's salary administration policy and guidelines to ensure transparency and equity. Across the board compensation increases and performance pay is approved by the university's internal budget committee and the executive group with final approval by the president.”

“TMU has made its governing documents, conflict of interest policy, and financial statements available to the public on its website during the tax year and if necessary upon request.”

“All staff are required to declare they have agreed to the Conflict of interest (COI) policy. The responsibility for monitoring enforcing the COI policy resides with managers/senior level in the organization. Steps are taken to investigate COI for the employees, determine whether to approve/prohibit the activity and establish, together with employees and any other appropriate parties, agreements concerning the monitoring and management of conflict of interest situations. In addition to this, the University's internal audit function performs periodic assessments of compliance with the COI Policy as well as procedures to determine whether apparent COIs are appropriately managed as per the directions outlined in the Policy.”

“Description of the organization's mission: Toronto Metropolitan University is the advancement of applied knowledge and research to address societal need, and the provision of programs of study that provide a balance between theory and application and that prepare students for careers in professional and quasi-professional fields.”

“Toronto Metropolitan University (TMU) is a leading institution of innovation and entrepreneurship that responds to societal need through high-quality, professional, and career-related bachelor, master's, and doctoral programs, and relevant scholarly, research, and creative activities. In 2024-25, it awarded 8,111 bachelor's degrees, 156 law degrees, 1,121 master's degrees, 91 professional master's diplomas, and 93 doctoral degrees. Overall student enrolment in the 2024-25 academic year was 47,310 (41,558 FTE) and the university achieved over CAD$131.4 (USD$94.28) million in research funding.”

“Other changes in net assets or fund balances: -$50,004,150. Difference amounts to two items (1) Foreign exchange differences resulting from change in CAD to US rates between the balance sheet dates ($-6,588,919) and (2) items reported under Canadian GAAP ($43,415,231), consisting of: Capitalization of investment income in endowments: $3,810K Endowment Contribution: $962K Employee Future Benefit Re-measurement: $48,188K”

“All information on Form 990 for Toronto Metropolitan University's functional currency is in Canadian dollars. All activities and all management are in Canada. For Form 990 reporting purposes, the financial information was converted to U.S. dollars using the following rates: For the year ended April 30, 2025 (CAD TO USD): Income statement items using the yearly average rate: 0.71753 Balance sheet items using the year end rate: 0.72355 For the year ended April 30, 2024 (CAD TO USD): Income statement items using the yearly average rate: 0.74076 Balance sheet items using the year end rate: 0.72885”