← THE GOVERNORS OF THE UNIVERSITY OF ALBERTA

Form 990 for tax year 2025

Filed by THE GOVERNORS OF THE UNIVERSITY OF ALBERTA.

Totals

Total revenue: $1,591,498,000
Total expenses: $1,583,660,000
Contributions and grants received: $889,424,000
Grants paid: $156,006,000
Program service revenue: $384,253,000
Investment income: $144,084,000
Other revenue: $173,737,000
Total assets, end of year: $4,796,853,000
Total liabilities, end of year: $2,586,060,000
Net assets or fund balances, end of year: $2,210,793,000
Program services expenses (Part IX): $1,466,791,000
Management and general expenses: $94,135,000
Fundraising expenses: $22,734,000
Program service expenses (Part III): $1,466,791,000

Program services were 92.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1a · Federated campaigns

$0
1b · Membership dues

$0
1c · Fundraising events

$0
1d · Related organizations

$580,289,000
1e · Government grants (contributions)

$183,726,000
1f · All other contributions, gifts and grants

$125,409,000
1g · Noncash contributions included above

$1,238,000
2a · Program service revenue: credit course tuition and fees

total $384,253,000 · related or exempt $384,253,000 · unrelated business $0 · excluded $0
2f · All other program service revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
3 · Investment income

total $57,317,000 · related or exempt $57,275,000 · unrelated business $42,000 · excluded $0
4 · Income from investment of tax-exempt bond proceeds

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
5 · Royalties

total $1,172,000 · related or exempt $1,172,000 · unrelated business $0 · excluded $0
6a · Gross rents

real property $0 · personal property $0
6b · Less rental expenses

real property $0 · personal property $0
6c · Rental income or loss

real property $0 · personal property $0
6d · Net rental income or loss

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
7a · Gross sales of assets other than inventory

securities $249,690,000 · other assets $290,000
7b · Less cost or other basis and sales expenses

securities $162,874,000 · other assets $339,000
7c · Gain or loss

securities $86,816,000 · other assets -$49,000
7d · Net gain or loss

total $86,767,000 · related or exempt $86,767,000 · unrelated business $0 · excluded $0
8a · Fundraising events: gross income

$0
8a · Fundraising events: contributions included on line 1c

$0
8b · Fundraising events: direct expenses

$0
8c · Net income from fundraising events

total $0 · unrelated business $0 · excluded $0
9a · Gaming: gross income

$0
9b · Gaming: direct expenses

$0
9c · Net income from gaming

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
10a · Gross sales of inventory

$0
10b · Cost of goods sold

$0
10c · Net income from sales of inventory

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11a · Other revenue: Sale of services and products

total $172,565,000 · related or exempt $172,565,000 · unrelated business $0 · excluded $0
11d · All other revenue

total $0 · related or exempt $0 · unrelated business $0 · excluded $0
11e · Other revenue, total

$172,565,000

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $4,595,000 · program services $4,595,000
2 · Grants to domestic individuals

total $0 · program services $0
3 · Grants to foreign organizations and individuals

total $151,411,000 · program services $151,411,000
4 · Benefits paid to or for members

total $0 · program services $0
5 · Compensation of officers, directors and key employees

total $2,868,000 · program services $2,868,000 · management and general $0 · fundraising $0
6 · Compensation of disqualified persons

total $0 · program services $0 · management and general $0 · fundraising $0
7 · Other salaries and wages

total $770,754,000 · program services $715,291,000 · management and general $42,127,000 · fundraising $13,336,000
8 · Pension plan contributions

total $71,643,000 · program services $63,931,000 · management and general $5,899,000 · fundraising $1,813,000
9 · Other employee benefits

total $34,228,000 · program services $23,034,000 · management and general $7,746,000 · fundraising $3,448,000
10 · Payroll taxes

total $41,358,000 · program services $38,753,000 · management and general $2,370,000 · fundraising $235,000
11a · Fees: management

total $6,569,000 · program services $656,000 · management and general $5,913,000 · fundraising $0
11b · Fees: legal

total $1,867,000 · program services $1,867,000 · management and general $0 · fundraising $0
11c · Fees: accounting

total $0 · program services $0 · management and general $0 · fundraising $0
11d · Fees: lobbying

total $0 · program services $0 · management and general $0 · fundraising $0
11e · Fees: professional fundraising services

total $0 · fundraising $0
11f · Fees: investment management

total $15,609,000 · program services $0 · management and general $15,609,000 · fundraising $0
11g · Fees: other

total $34,624,000 · program services $34,624,000 · management and general $0 · fundraising $0
12 · Advertising and promotion

total $5,201,000 · program services $5,201,000 · management and general $0 · fundraising $0
13 · Office expenses

total $10,057,000 · program services $9,808,000 · management and general $249,000 · fundraising $0
14 · Information technology

total $38,359,000 · program services $38,359,000 · management and general $0 · fundraising $0
15 · Royalties

total $761,000 · program services $761,000 · management and general $0 · fundraising $0
16 · Occupancy

total $54,305,000 · program services $54,305,000 · management and general $0 · fundraising $0
17 · Travel

total $24,546,000 · program services $24,110,000 · management and general $436,000 · fundraising $0
18 · Travel or entertainment for public officials

total $0 · program services $0 · management and general $0 · fundraising $0
19 · Conferences, conventions and meetings

total $10,624,000 · program services $10,624,000 · management and general $0 · fundraising $0
20 · Interest

total $7,540,000 · program services $6,915,000 · management and general $625,000 · fundraising $0
21 · Payments to affiliates

total $127,148,000 · program services $127,148,000 · management and general $0 · fundraising $0
22 · Depreciation, depletion and amortization

total $4,551,000 · program services $0 · management and general $4,551,000 · fundraising $0
24a · Other expenses: Repairs and maintenance

total $55,732,000 · program services $55,732,000 · management and general $0 · fundraising $0
24b · Other expenses: General supplies and services

total $39,581,000 · program services $27,069,000 · management and general $8,610,000 · fundraising $3,902,000
24c · Other expenses: Lab supplies

total $11,944,000 · program services $11,944,000 · management and general $0 · fundraising $0
24d · Other expenses: Cost of Goods Sold

total $9,591,000 · program services $9,591,000 · management and general $0 · fundraising $0
24e · All other expenses

total $48,194,000 · program services $48,194,000 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $46,883,000 · end of year $28,796,000
2 · Savings and temporary cash investments

beginning of year $204,611,000 · end of year $200,561,000
3 · Pledges and grants receivable

beginning of year $0 · end of year $0
4 · Accounts receivable

beginning of year $145,092,000 · end of year $164,138,000
5 · Loans and receivables from officers and key people

beginning of year $0 · end of year $0
6 · Loans and receivables from disqualified persons

beginning of year $0 · end of year $0
7 · Other notes and loans receivable

beginning of year $0 · end of year $0
8 · Inventories for sale or use

beginning of year $1,591,000 · end of year $1,689,000
9 · Prepaid expenses and deferred charges

beginning of year $10,259,000 · end of year $10,207,000
10a · Land, buildings and equipment: cost or other basis

$4,731,326,000
10b · Land, buildings and equipment: accumulated depreciation

$2,779,833,000
10c · Land, buildings and equipment, net

beginning of year $1,929,121,000 · end of year $1,951,493,000
11 · Investments: publicly traded securities

beginning of year $1,247,803,000 · end of year $1,360,468,000
12 · Investments: other securities

beginning of year $477,743,000 · end of year $512,585,000
13 · Investments: program-related

beginning of year $475,900,000 · end of year $568,288,000
14 · Intangible assets

beginning of year $0 · end of year $0
15 · Other assets

beginning of year -$350,000 · end of year -$1,372,000
17 · Accounts payable and accrued expenses

beginning of year $152,354,000 · end of year $136,196,000
18 · Grants payable

beginning of year $0 · end of year $0
19 · Deferred revenue

beginning of year $1,913,547,000 · end of year $1,984,883,000
20 · Tax-exempt bond liabilities

beginning of year $0 · end of year $0
21 · Escrow or custodial account liability

beginning of year $0 · end of year $0
22 · Loans and payables to officers and key people

beginning of year $0 · end of year $0
23 · Secured mortgages and notes payable

beginning of year $234,071,000 · end of year $231,440,000
24 · Unsecured notes and loans payable

beginning of year $0 · end of year $0
25 · Other liabilities

beginning of year $247,885,000 · end of year $233,541,000
27 · Net assets without donor restrictions

beginning of year $660,149,000 · end of year $711,316,000
28 · Net assets with donor restrictions

beginning of year $1,330,647,000 · end of year $1,499,477,000

Mission and programs · 2025

Mission

Within a vibrant and supportive learning environment, the University of Alberta discovers, disseminates and applies new knowledge through teaching and learning, research and creative activity, community involvement and partnerships. The University of Alberta gives a national and international voice to innovation in our province, taking a lead role in placing Canada at the global forefront.

Activities or mission (Part I)

The Governors of The University of Alberta is a corporation that manages and operates the University of Alberta under the Post-secondary Learning Act (Alberta). Under the Post-secondary Learning Act, the university is a comprehensive academic and research institution offering undergraduate and graduate degree programs as well as a full range of continuing education programs and activities.

General Operations - This fund includes the provincial government operating grant, tuition fee revenue, investment income available for general spending and any new revenues generated by faculties and administrative units. Approximately 40,061 students from all Canadian provinces and territories and 156 other countries, participating in: College of Health Sciences (Kinesiology, Sport, + Recreation; Medicine + Dentistry; Nursing; Pharmacy + Pharmaceutical Sciences; School of Public Health; Rehabilitation Medicine); College of Natural + Applied Sciences (Agricultural, Life + Environmental Sciences; Engineering; Science); College of Social Sciences + Humanities (Alberta School of Business; Arts; Education; Law); Faculties (Augustana; Campus Saint-Jean (French); Extension; Graduate Studies + Research; Native Studies)

Expenses $773,147,000 · Grants $51,572,000 · Revenue $551,310,000
Sponsored Research - Funded by grants and contracts from external sponsors, donations and endowment investment income available for spending. The University ranks among the top five Canadian universities in annual sponsored research funding, including clinical trials and related research funding. The University is also among the top five Canadian universities in annual total research funding from the three federal government granting councils: the Canadian Institutes of Health Research, the Natural Sciences and Engineering Research Council, and the Social Sciences and Humanities Research Council.

Expenses $401,942,000 · Grants $91,004,000 · Revenue $45,177,000
Ancillary Services - These University business enterprises provide goods and services to the University community and to individuals, companies and organizations external to the University. These units are expected to operate on either a break-even basis, covering their full operating and capital costs, or on a profit basis which is used to support the University's activities.

Expenses $61,861,000 · Revenue $83,171,000
Other program services include: special purpose (funded by grants and contracts from external sponsors, donations and endowment investment income available for spending. Expenditures include scholarships and bursaries, and other special projects involving teaching and community service.); capital (funded by provincial, federal and other government grants and donations. Funds are primarily designated for the acquisition of buildings, equipment and furnishings, including major renovations).

Expenses $229,841,000 · Grants $13,430,000 · Revenue $22,416,000

As filed on the 2025 return.

Listed in Part VII

Morck Randall K

Mr

Total calculated

$452,933

From this org

$452,933

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$399,748

Bonus

$0

Other

$53,185

Deferred

$3,865

Nontaxable benefits

$6,645

Filer's total

$463,443
Wong Edy Lai-Man

Mr

Total calculated

$365,126

From this org

$365,126

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$252,600

Bonus

$0

Other

$112,526

Deferred

$1,343

Nontaxable benefits

$6,740

Filer's total

$373,209
Jamal Karim

Mr

Total calculated

$350,262

From this org

$350,262

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$273,524

Bonus

$0

Other

$76,738

Deferred

$10,769

Nontaxable benefits

$9,301

Filer's total

$370,332
Flanagan William Francis

Mr

Total calculated

$344,683

From this org

$344,683

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$340,341

Bonus

$0

Other

$4,342

Deferred

$101,976

Nontaxable benefits

$31,291

Filer's total

$477,950
Major Paul William

Mr

Total calculated

$323,318

From this org

$323,318

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$205,372

Bonus

$0

Other

$117,946

Deferred

$3,174

Nontaxable benefits

$6,817

Filer's total

$333,309
Yiu Verna

Ms

Total calculated

$323,043

From this org

$323,043

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$245,708

Bonus

$0

Other

$77,335

Deferred

$65,756

Nontaxable benefits

$10,591

Filer's total

$399,390
Gilchrist Richard T

Mr

Total calculated

$320,786

From this org

$320,786

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$315,844

Bonus

$0

Other

$4,942

Deferred

$110,140

Nontaxable benefits

$11,066

Filer's total

$441,992
Michalak Marek

Mr

Total calculated

$316,891

From this org

$316,891

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$230,060

Bonus

$0

Other

$86,831

Deferred

$1,343

Nontaxable benefits

$6,695

Filer's total

$324,929
Dew Steven K

Mr

Total calculated

$285,399

From this org

$285,399

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$285,399

Bonus

$0

Other

$0

Deferred

$29,068

Nontaxable benefits

$9,396

Filer's total

$323,863
Li Xin-Min

Ms

Total calculated

$276,370

From this org

$276,370

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$263,629

Bonus

$0

Other

$12,741

Deferred

$28,301

Nontaxable benefits

$6,874

Filer's total

$311,545
Kalcounis-Rueppell Matina

Ms

Total calculated

$272,947

From this org

$272,947

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$193,588

Bonus

$0

Other

$79,359

Deferred

$28,468

Nontaxable benefits

$9,351

Filer's total

$310,766
Hemmelgarn Brenda

Ms

Total calculated

$271,807

From this org

$271,807

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$186,846

Bonus

$0

Other

$84,961

Deferred

$28,793

Nontaxable benefits

$9,347

Filer's total

$309,947
MacDonald Elan Marie

Ms

Total calculated

$270,500

From this org

$270,500

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$266,158

Bonus

$0

Other

$4,342

Deferred

$74,320

Nontaxable benefits

$10,854

Filer's total

$355,674
Robinson Fayek Aminah

Ms

Total calculated

$265,015

From this org

$265,015

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$260,673

Bonus

$0

Other

$4,342

Deferred

$56,049

Nontaxable benefits

$10,052

Filer's total

$331,116
Shapiro A M James

Mr

Total calculated

$262,478

From this org

$262,478

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$188,309

Bonus

$0

Other

$74,169

Deferred

$27,111

Nontaxable benefits

$8,502

Filer's total

$298,091
Maier Michael Shane

Mr

Total calculated

$242,843

From this org

$242,843

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$82,744

Bonus

$0

Other

$160,099

Deferred

$26,578

Nontaxable benefits

$8,364

Filer's total

$277,785
Spencer Kelly Dawn

Ms

Total calculated

$224,596

From this org

$224,596

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$224,097

Bonus

$0

Other

$499

Deferred

$27,473

Nontaxable benefits

$8,909

Filer's total

$260,978
Turpin David Howard

Mr

Total calculated

$220,083

From this org

$220,083

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$0

Bonus

$0

Other

$220,083

Deferred

$3,206

Nontaxable benefits

$1,386

Filer's total

$224,675
Bressler David Curtis

Mr

Total calculated

$203,704

From this org

$203,704

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$188,786

Bonus

$0

Other

$14,918

Deferred

$27,787

Nontaxable benefits

$9,654

Filer's total

$241,145
Kunimoto Dennis Y

Mr

Total calculated

$158,206

From this org

$158,206

From related orgs

$0

Other

$0

Hours/week

40

Schedule J breakdown matched by us

Base

$158,206

Bonus

$0

Other

$0

Deferred

$0

Nontaxable benefits

$6,756

Filer's total

$164,962

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

1a · Housing allowance or residence for personal use
1b · Written policy on the line-1a expenses
2 · Substantiation required before reimbursing expenses
3 · Compensation committee
3 · Written employment contract
3 · Approval by the board or compensation committee
4b · Supplemental nonqualified retirement plan

Answered no

4a · Severance or change-of-control payment
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a: This benefit represents the fair value of the personal use portion of the university-owned residence. Previously, the President paid the university that fair value.
Schedule J, Part I, Line 3: The current President's contract is the first to be limited by provincial regulation from the outset. There was therefore no need to conduct a compensation survey.
Schedule J, Part I, Line 4: "Part I Line 4b (supplemental nonqualified retirement plan) - Under the terms of the Defined Benefit Supplementary Retirement plan (DB SRP), the executive may receive supplemental payments. Retirement arrangement costs as detailed below are not cash payments in the period but are period expenses for the rights to future compensation. Costs shown reflectthe total estimated cost to provide supplementary retirement benefits. The DB SRP provides future benefits to participants based on years of service and earnings. The cost of these benefits is actuarially determined using the projected benefit method pro-rated on service, a market interest rate, and other assumptions included in the Canadian Institute of Actuaries' lump sum commuted value standard. The DB SRP was closed to new members effective June 30, 2014. Under the terms of the executive Defined Contribution Supplementary Retire Plan (DC SRP), the executive may receive supplemental payments. Retirement arrangement costs as detailed below are not cash payments in the period but are period expenses for the rights to future compensation. Costs shown reflect the total cost to provide supplementary retirement benefits. The DC SRP provides future benefits to participants based on the value of the contributions at the end of their service. The cost of these benefits is calculated based on pensionable salary multiplied by a factor based on age and service. The DC SRP was introduced effective July 1, 2014, for all executives commencing employment on or after that date. Current year expense; Provost and Vice-President (Academic) - $26,000; President - $22,000; Vice-President (University Services and Finance) - $19,000; Vice-President (Research and Innovation) - $17,000; Vice-President (External Relations) - $14,000; Vice-President (International, Innovation and Enterprise) - $1,000; Professor, AB School of Business - $1,000; Professor, AB School of Business - $1,000; Professor and Chair, Accounting and Business Analytics - $1,000; Professor and ACFD Project Lead, Faculty of Medicine and Dentistry - $1,000; Professor, Faculty of Medicine and Dentistry - $1,000; Former Provost and Vice-President (Academic) - $1,000; Dean, College of Health Sciences - $1,000; Professor, Faculty of Medicine & Dentistry - $1,000; Professor, Faculty of Medicine and Dentistry - $1,000; Dean, College of Natural and Applied Sciences - $1,000; Associate Dean MBA, AB School of Business - $1,000; Former Interim Vice-President (Advancement) - $1,000 Supplementary Retire Plan (SRP) payouts - these amounts represent the payouts of employer provided supplementary retirement benefits which were earned and expensed as the employees provided services. Payout of SRP; Former President - $119,000"

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Government of Alberta

Administration · CA

Directly controlled by Federal Government
Pacific Marine Science Alliance Society

CM · Marine Research · CA
Northern Alberta Clinical Trials and Research Centre

Clinical research · CA

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

University of Alberta Properties Trust Inc

T · Property Development · CA · 100% owned · share of income $100 · share of assets $100 · controlled entity

Directly controlled by University of Alberta
University of Alberta Innovation Fund

C · Investment in research · CA · 100% owned · share of income $100 · share of assets $100 · controlled entity

Directly controlled by University of Alberta

Provenance

Return type: form_990
Tax year: 2025
IRS schema version: 2025v4.0
Source object: 202612279349300901

The source document this was parsed from is served over the API, which is where bulk and document access live.