Quantum Valley Ideas Laboratories
Charitable organization · Waterloo, Ontario · BN 777087321RR0001 · Research
Source: T3010 return, FPE 2024-07-31. Split of total expenditures ($11,143,070) as filed with the CRA.
Quantum Valley Ideas Laboratories is a charitable organization based in Waterloo, Ontario, classified by the CRA under research. In its fiscal year ending July 31, 2024, it reported $11.6M in revenue and $11.1M in expenditures.
Its funding that year was roughly 46% from government, 31% from other charities. In 2024, 1 other registered charity reported granting it a combined $1.8M.
Compared with 74 education charities of similar size, its share of spending on mission — charitable programs plus grants to other charities — ranked above 8% of peers. Its highest-paid position fell in the $350,000 and over range. The charity reported 36 permanent full-time positions.
Revenue has grown substantially over its filings on record here, from $4.3M in 2020 to $11.6M in 2024. Its filed list of directors and trustees shows 7 names.
In its own words
To advance education by undertaking research in the area of quantum information science and developing technologies with application for societal benefit. To receive and maintain a fund or funds and apply all or part of principal and income therefrom from time to time to qualified donees as defined in subsection 149.1(1) of the income tax act(canada) that have charitable purposes under canadian law.
Ongoing-program description from its T3010 filing, verbatim.
The ledger, 2020–2024
| Year | Revenue | Spending | Programs | Fundraising | Gifts out | Net assets |
|---|---|---|---|---|---|---|
| 2024 | $11.6M | $11.1M | $7.3M | — | — | $4.8M |
| 2023 | $5.7M | $8.6M | $5.4M | — | — | $4.4M |
| 2022 | $10.2M | $8.9M | $5.9M | — | — | $8.2M |
| 2021 | $7.4M | $5M | $4.1M | — | — | $6.9M |
| 2020 | $4.3M | $3.6M | $2.9M | — | — | $4.5M |
Revenue printed in red where the year ran a deficit. Fiscal years by period end.
Money between charities, 2024
Received $1.8M from 1 charity:
As reported on the donors’ own T3010 qualified-donee schedules.
What it pays
Its ten highest-paid positions, by band:
- $350,000 and over1 position
- $250,000–299,9991 position
- $200,000–249,9991 position
- $160,000–199,9991 position
- $120,000–159,9996 positions
- Permanent full-time positions36
- Total compensation, all staff$4.7M
Schedule 3 of its 2024 return. The CRA discloses bands, not names or exact salaries.
Directors & trustees (2024)
Cosimo Fiorenza (director); Emily Pang (director); Doug Fregin (director); William Innes (director); Michael Lazaridis (director); John Risley (director); Robin Bienfait (director).
As listed on its 2024 return.
Check the source
Every figure on this page is from Quantum Valley Ideas Laboratories’s own T3010 filings, published by the Canada Revenue Agency. Verify against the CRA’s charities listing (search BN 777087321RR0001), or read how we compute the receipt.