2024-03-14T11:47:48-05:00 2023-04-30 KPMG LLP 333 Bay St Suite 4600 Toronto ON CA M5H 2S5 990 2022-05-01 981651870 Toronto Metropolitan University FKA Ryerson University % RAVI HALDAVNEKAR TORO 4169795019 350 Victoria Street Toronto ON CA M5B 2K3 Ravi Haldavnekar Controller 4169795019 2024-03-13 true Ravi Haldavnekar 888008888 Josh Klein P01285445 4167778500 2024-03-13 2022 2023-04-26 12:10:37Z X X Ravi Haldavnekar 350 Victoria Street Toronto ON CA M5B 2K3 766533711 false X https://www.torontomu.ca/ X University/School 1964 CA See Schedule O for the full description of Toronto Metropolitan University's mission. 27 11 0 250 0 418476775 380128385 352466139 331541147 9252122 21721386 28955124 28508411 809150160 761899329 0 57681 0 0 459552592 457209172 0 0 5392542 337914452 317838651 797467044 775105504 11683116 -13206175 1783767784 1775314546 879830720 886069090 903937064 889245456 X The special mission of 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. false false 738639232 331541147 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 2023, it awarded 7,723 bachelor's degrees, 159 law degrees, 1,139 master's degrees, 79 professional master's diplomas, and 86 doctoral degrees. Overall student enrolment in the 2022-23 academic year was 46,462 (39,500 FTE) and the university achieved over CAD $90 million in research funding. 738639232 true false false false false false false true false true true false true true true false true false true true true true false false false false false false true true false false false false false false false false true true false false false true true true false false true 0 0 0 false false true CA false false true true true true false false false false false false X 27 11 false false false false false false false true true false false true true true true true true true true false X RAVI HALDAVNEKAR 4169795019 350 Victoria Street Toronto ON CA M5B 2K3 X Mohamed Lachemi President 36.25 0.0 X X 278731 0 0 Anver Saloojee Professor 36.25 0.0 X 248946 0 0 Daphne Taras Dean 36.25 0.0 X 245230 0 0 Donna Young Dean - Faculty of Law 36.35 0.0 X 245181 0 0 Thomas Duever Dean 36.25 0.0 X 234368 0 0 Julia Shi-Eun Shin Doi Gen Counsel & Secretary of BOG 36.25 0.0 X 204529 0 0 Bala Venkatesh Professor 35.0 0.0 X 201376 0 0 Steven Norman Liss V.P.- Research and Innovation 36.25 0.0 X 198548 0 0 Saeed Zolfaghari V.P. - Admin & Operations 36.25 0.0 X 195614 0 0 Tanya De Mello VP -Equity&Comm Incls 36.25 0.0 X 195614 0 0 Joanne McKee Chief Financial Officer 36.25 0.0 X 184328 0 0 Michael Kolios Professor 35.0 0.0 X 179495 0 0 Irene Gammel Professor 35.0 0.0 X 168067 0 0 Seth Dworkin Professor 35.0 0.0 X 161689 0 0 Marcelle Mullings Executive Director OVPECI 36.25 0.0 X 136749 0 0 Joanne Dallaire Elder&Sr.Advisor Indig. Relat 36.25 0.0 X 132773 0 0 Samir Sinha Research Professional 36.25 0.0 X 74484 0 0 Silvana Babikian Catering Mgr. F.S. Operations 36.25 0.0 X 65731 0 0 Anthony Staffieri Elected Member of the Board 0.0 0.0 X 0 0 0 Catherine Paisley Elected Member of the Board 0.0 0.0 X 0 0 0 David Miller Elected Member of the Board 0.0 0.0 X 0 0 0 David Porter Elected Member of the Board 0.0 0.0 X 0 0 0 Edward Shim Elected Member of the Board 0.0 0.0 X 0 0 0 Garay Camilo Elected Member of the Board 0.0 0.0 X 0 0 0 Grace Leong Elected Member of the Board 0.0 0.0 X 0 0 0 Jack Cockwell Elected Member of the Board 0.0 0.0 X 0 0 0 Janice Fukakusa Elected Member of the Board 0.0 0.0 X 0 0 0 Jasmine Fakhim Elected Member of the Board 0.0 0.0 X 0 0 0 Joel Kuriakose Elected Member of the Board 0.0 0.0 X 0 0 0 Kareena Bhatia Elected Member of the Board 0.0 0.0 X 0 0 0 Meg Davis Elected Member of the Board 0.0 0.0 X 0 0 0 Nadir Mohamed Elected Member of the Board 0.0 0.0 X 0 0 0 Neel Chauhan Elected Member of the Board 0.0 0.0 X 0 0 0 Ryan Rodrigues Elected Member of the Board 0.0 0.0 X 0 0 0 Sobi Ragunathan Elected Member of the Board 0.0 0.0 X 0 0 0 Walied Soliman Elected Member of the Board 0.0 0.0 X 0 0 0 3351453 0 0 32 true true false 10091600 Canada Inc SUITE 1810 - 1 YONGE ST TORONTO ON CA M5E 1W7 interpreter 470454 Deloitte Inc 8 ADELAIDE ST W SUITE 200 TORONTO ON CA M5H 0A9 Consulting 323483 Dr Andrew Padmos Incorporated 62 ROTHWELL DRIVE OTTAWA ON CA K1J 7G6 Advisory 298758 Cairns Oneil Strategic Media Inc 56 THE ESPLANADE SUITE 401 TORONTO ON CA M5E 1A7 Media development 278881 Spindle Strategy Corp 26 SOHO ST SUITE 335 TORONTO ON CA M5T 1Z7 Strategy Plan & Dev. 267935 5 369218413 10909972 380128385 OPERATING PROGRAM 313656627 313656627 ANCILLARY AND OTHER 17884520 17884520 331541147 21721386 21721386 0 0 0 0 0 0 0 0 0 0 0 0 8568458 4634382 3934076 3934076 AMORTIZATION OF DEFERRED CAPITAL CONTRIBUTIONS 10806147 10806147 UNREALIZED GAIN ON INTEREST RATE SWAPS 2352630 2352630 MISCELLANEOUS 11415558 11415558 24574335 761899329 381770944 0 57681 57681 0 0 2036137 2036137 0 0 0 389730321 365925583 19860207 3944531 17384783 15211455 1999870 173458 22668490 20678427 1783742 206321 25389441 23806858 1345048 237535 0 1782244 447795 1334449 205020 86445 118575 0 0 523899 523899 28722484 26400559 2321925 0 11663085 11379485 283600 0 0 0 0 0 0 14613088 14613088 0 40069189 40069189 1727417 1714140 13277 OPERATING COSTS 90092661 88440896 821068 830697 SCHOLARSHIPS 39334886 39334886 SUB GRANTS TO PARTNER INST. 77368941 77368941 REPAIRS AND MAINTENANCE 11735737 11067667 668070 775105504 738639232 31073730 5392542 110118905 14236468 31882 104419460 0 0 28885470 46107122 0 0 0 0 2788470 2368441 1160955 901631 11625883 15500375 974442180 39295457 999928551 935146723 0 0 0 0 519065995 503069352 0 0 110161673 153564974 1783767784 1775314546 73789480 84405029 0 0 20263452 57513267 0 0 0 0 0 0 0 0 0 0 785777788 744150794 879830720 886069090 X 788173568 774518483 115763496 114726973 903937064 889245456 1783767784 1775314546 X -13206175 -1485433 X false true X true false X X X X X false 115763496 520633 -1557156 114726973 0.00000 1.00000 0.00000 false false 974442180 39295457 935146723 935146723 0 EMPL FUTURE BENEFITS - PENSION 153564974 153564974 0 CURRENT PORTION OF LT DEBT 7035966 CURRENT PORTION OF FV OF INTEREST RATE SWAPS 186671 EMPLOYEE FUTURE BENEFITS - OTHER 27810364 LT DEBT 364503027 FV OF INTEREST RATE SWAPS 6607286 DEFERRED REVEUE CONTRIBUTIONS 131153327 DEFERRED CAPITAL CONTRIBUTIONS 206854153 744150794 Schedule D, Part V, Line 4 The revenue from endowment fund supports the scholarship and research expenditure at the university. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 Toronto Metropolitan University has a policy that prohibits discrimination based on protected grounds under the Ontario Human Rights code, including race. The University has a Vice President, Equity and Community Inclusion. The Office of the VP ECI oversees a Human Rights Services office that works to promote an equitable and inclusive university community, free from discrimination and harassment based on the protected grounds identified in the Ontario Human Rights Code (including race), this includes administering the University Discrimination and Harassment Prevention policy. In addition, the Office of the VP ECI works with all areas of the university to proactively embed equity, diversity and inclusion in all aspects of the work and educational programming of the university. There is a link to all Equity and Community Inclusion initiatives on the University homepage as part of the main navigation at the top of the page. Faculty of Arts admissions brochures include the statement, "... welcomes applications from prospective students of all nationalities and gender identities, regardless of age, disability, race, religion, or sexual orientation." Schedule E, Part I, Line 6a The University receives support from numerous government agencies for operating and research grants. The university complies with all requirements for those grants and maintained good standing. Schedule E, Part I, Line 7 The University complies with legislation governing racial non discrimination (and other protected grounds) within the jurisdiction within which it operates, i.e. the Ontario Human Rights Code. The Code covers employment and services (which includes education) and requires that the University operates in a way that does not discriminate based on protected grounds under the Code, including race. true North America 1 8907 Program Services Academic & Research 775105503 1 8907 1 8907 775105503 775105503 false false false false false false Schedule F, Part I, Line 2 TMU creates unique accounts within the general ledger to segregate grants in order to monitor compliance on spending according to the university's grant documentation and internal control policies. true Bursary 5 57681 FMV N/A X true true X false false false false false false false false false Mohamed Lachemi President 278731 278731 Anver Saloojee Professor 248946 248946 Daphne Taras Dean 245230 245230 Donna Young Dean - Faculty of Law 245181 245181 Thomas Duever Dean 234368 234368 Julia Shi-Eun Shin Doi Gen Counsel & Secretary of BOG 204529 204529 Steven Norman Liss V.P.- Research and Innovation 198548 198548 Saeed Zolfaghari V.P. - Admin & Operations 195614 195614 Tanya De Mello VP -Equity&Comm Incls 195614 195614 Joanne McKee Chief Financial Officer 184328 184328 Bala Venkatesh Professor 201376 201376 Irene Gammel Professor 168067 168067 Michael Kolios Professor 179495 179495 Seth Dworkin Professor 161689 161689 X 13 223337 FMV X 1 2731349 CCPERB X 18100 FMV X 80989 FMV X 15 199345 Ready Market Value 0 false true false Form 990, part I, line 1 Description of the organization's mission: The special mission of 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. Form 990, part III, line 4a 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 2023, it awarded 7,723 bachelor's degrees, 159 law degrees, 1,139 master's degrees, 79 professional master's diplomas, and 86 doctoral degrees. Overall student enrollment in the 2022-23 academic year was 46,462 (39,500 FTE) and the university achieved over CAD $90 million in research funding. Form 990, part VI, section A, line 6 Did the organization have members or stockholders: No Form 990, part VI, section A, line 7a 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 Form 990, part VI, section A, line 7b 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, part VI, section B, line 11b Form 990 is reviewed by the CFO and the controller before filing and is required to be signed off by the controller. It is available for all members of its governing body before filing upon request. Form 990, part VI, section B, line 15 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. Form 990, part VI, section C, line 19 TMU has made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year, upon request. Form 990, part XI, Line 9 Other changes in net assets or fund balances: * Foreign Exchange Translation: $-1,485,433 Form 990, Part VI, Section B, Line 12c All staff are required to declare they have agreed to the 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. Form 990 All Information 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, 2023 (CAD TO USD): Income statement items using the yearly average rate: 0.75236 Balance sheet items using the year end rate: 0.737832 For the year ended April 30, 2022 (CAD TO USD): Income statement items using the yearly average rate: 0.797047 Balance sheet items using the year end rate: 0.777599 true true true Ryerson Futures Inc a 15795 Cash Ryerson Futures Inc b 543842 Cash Ryerson Futures Inc m 77766 Cash