The Upper Canada College Foundation
Public foundation · Toronto, Ontario · BN 119260776RR0001 · Support of Schools and Education
Source: T3010 return, FPE 2024-06-30. Split of total expenditures ($4,857,723) as filed with the CRA.
The Upper Canada College Foundation is a public foundation based in Toronto, Ontario, classified by the CRA under support of schools and education. In its fiscal year ending June 30, 2024, it reported $24.9M in revenue and $4.9M in expenditures.
Its funding that year was roughly 7% from donations, 22% from other charities. In 2024, 13 other registered charities reported granting it a combined $598K.
Compared with 74 education charities of similar size, its share of spending on mission — charitable programs plus grants to other charities — ranked above 90% of peers. Its reserves, measured in years of spending on hand, sat in the top decile of the group.
As a grantmaker, it reported gifts to 1 qualified donee totalling $4.8M in 2024, the largest being $4.8M to Upper Canada College. Revenue has grown substantially over its filings on record here, from $3M in 2020 to $24.9M in 2024. Its filed list of directors and trustees shows 13 names.
In its own words
Funds provided to upper canada college primarily for needs-based financial assistance for students.
Ongoing-program description from its T3010 filing, verbatim.
The ledger, 2020–2024
| Year | Revenue | Spending | Programs | Fundraising | Gifts out | Net assets |
|---|---|---|---|---|---|---|
| 2024 | $24.9M | $4.9M | — | — | $4.8M | $149.1M |
| 2023 | $14.5M | $4.7M | — | — | $4.7M | $129.4M |
| 2022 | -$10.5M | $4.6M | — | — | $4.5M | $119.6M |
| 2021 | $29.5M | $4.2M | — | — | $4.2M | $134.6M |
| 2020 | $3M | $4.1M | — | — | $4.1M | $109.2M |
Revenue printed in red where the year ran a deficit. Fiscal years by period end.
Money between charities, 2024
Granted $4.8M to 1 qualified donee:
- Upper Canada College$4.8M
Received $598K from 13 charities:
- Conam Charitable Foundation$206K
- Upper Canada College$156K
- The Delaney Family Foundation$100K
- The Browning Watt Foundation$56K
- Trust Under the Will of Colonel E Ibbotson Leonard Estate$20K
- The Hope Charitable Foundation$18K
- The Margaret and Colin G. Watson Foundation$17K
- The Michael Young Family Foundation$10K
- Canadian Online Giving Foundation$6,382
- Jewish Foundation of Greater Toronto$6,000
- The Calgary Foundation$2,491
- The Anderson Family Foundation$1,000
- The Sid and Denise Levin Charitable Foundation$1,000
As reported on the donors’ own T3010 qualified-donee schedules.
Directors & trustees (2024)
Tanya Covassin (board member); Matthew Farb (board member); J.P. Mackay (board member); James Garner (board member); Blake Hutcheson (ex-officio board member); Elliot Johnson (board member); Niral Merchant (board member); Raymond Shiu (board member); Sam McKinney (ex-officio-principal); Patti Macnicol (treasuer); Brendan Dellandrea (ex-officeio ex. director); Stephanie Tjon (board member); Christine McLean (board member).
As listed on its 2024 return.
Check the source
Every figure on this page is from The Upper Canada College Foundation’s own T3010 filings, published by the Canada Revenue Agency. Verify against the CRA’s charities listing (search BN 119260776RR0001), or read how we compute the receipt.