CanadaHelps
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
A-
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
n/r
DEMONSTRATED IMPACT
The demonstrated impact per dollar Ci calculates from available program information.
NEED FOR FUNDING
Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.
99%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 99 cents are available for programs.
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OVERVIEW
About CanadaHelps:
CanadaHelps is a five-star charity. It has an above average results reporting score, is fully financially transparent and spent less than one percent of donations on overhead costs.
Founded in 2000, CanadaHelps simplifies giving with its online platform for donations. Its website helps donors send funds to charities of their choice. It also stores donation receipts. CanadaHelps also provides charities with fundraising platforms and donor management tools. CanadaHelps receives cash donations and donated securities on behalf of charities across Canada. To cover its costs, it distributes the funds to charities for a processing fee of between 2% (security donations over $100k) and 4% (one-time donations).
In F2022 CanadaHelps gave out $420.6m in donations. Since 2000, CanadaHelps reports that it has raised over $2 billion. In F2022, Canadians donated to more than 30,455 charities through CanadaHelps.
CanadaHelps helps charities by streamlining the donation process and reducing overhead costs. It offers customizable donation forms, ticketed event pages, peer-to-peer fundraising, and monthly donation options. CanadaHelps also reports that in F2022, it had 1,393 new charity partners. In F2020, CanadaHelps launched its Donor Management System (DMS). The system stores donor data and helps charities track patterns in donations. As of F2022, 591 charities are using DMS. CanadaHelps hosts free webinars to help charities improve their online fundraising. In F2022, more than 1,216 fundraising professionals attended their webinars.
CanadaHelps aims to help Canadians donate with ease. It also aims to engage more people in charitable giving. In F2022, CanadaHelps launched United for Change, the new website for the Cause Funds initiative. The Cause Funds initiative encourages more young people to donate to charity. In F2022, Cause Funds received $858k in donations. In F2022, five new Cause Funds were launched: the Period Equity Fund, the International Covid-19 Relief Fund, the Ukraine Emergency Relief Fund, the Climate Change Policy Fund and the Land and Food Justice Fund. CanadaHelps launched a new annual campaign: Make It Monthly. Its aim is to help charities have monthly donors and have a consistent source of funding. CanadaHelps also publishes an annual Giving Report to provide data on Canada’s charitable sector.
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Results and Impact
In F2022, 1.2 million donors used CanadaHelps, for a total of 3.2 million donations. The total funds raised were $437.4m, and $70.3m were donated monthly.
While Ci highlights these key results, they may not be a complete representation of CanadaHelps’ results and impact.
This charity is not yet rated on impact (n/r).
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Finances
CanadaHelps received $437.4m in donations in F2022, up 45% from $301.4m in F2020. In F2022, CanadaHelps distributed $420.6m in donor-designated grants, compared to $280.1m in F2020.
CanadaHelps' audited financial statements do not disclose activity-based costing. Charity Intelligence has used its information filed in its annual T3010 return for cost allocations. Administrative costs are less than 1% of revenues and fundraising costs as a percentage of donations are virtually zero. Nearly all dollars donated go to the cause.
This is not within Ci's reasonable range for overhead spending, which is between 65 and 95 cents. However, given the low-cost nature of this charity, this likely does not raise any concerns about understated overhead costs.
CanadaHelps has $4.6m in reserve funds. These are CanadaHelps’ cash and investments. With its current reserve funds, the charity can cover 28% or about 3 months of program costs.
Charity Intelligence has sent this update to CanadaHelps for review. Changes and edits may be forthcoming.
Updated on June 9, 2023 by Alessandra Castino.
Financial Review
Fiscal year ending June
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 0.5% | 0.4% | 0.4% |
Fundraising costs as % of donations | 0.0% | 0.0% | 0.0% |
Total overhead spending | 0.5% | 0.4% | 0.4% |
Program cost coverage (%) | 28.2% | 40.1% | 28.9% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 437,380 | 404,563 | 301,449 |
Goods in kind | 0 | 0 | 22 |
Fees for service | 1,172 | 494 | 237 |
Investment income | 107 | 80 | 83 |
Other income | 422 | 358 | 325 |
Total revenues | 439,080 | 405,496 | 302,115 |
Program costs | 16,483 | 11,981 | 8,721 |
Donor-designated donations | 420,630 | 391,822 | 280,060 |
Administrative costs | 2,287 | 1,756 | 1,166 |
Fundraising costs | 76 | 63 | 61 |
Total spending | 439,476 | 405,623 | 290,007 |
Cash flow from operations | (396) | (127) | 12,109 |
Capital spending | 1,464 | 2,050 | 811 |
Funding reserves | 4,649 | 4,806 | 2,524 |
Note: To report on a cash basis, Ci adjusted donor-designated funds by changes in contributions due to charities. This affected grants and expenses by $1.9m in F2022, $4.4m in F2021, and ($8.8m) in F2020. Ci adjusted for deferred donations which affected revenues by $528k in F2022, $82k in F2021 and $14k in F2020. Ci reported program, administrative, and fundraising costs from the charity’s T3010 filings with the CRA and removed amortization on a pro-rata basis.
Salary Information
$350k + |
0 |
$300k - $350k |
1 |
$250k - $300k |
1 |
$200k - $250k |
3 |
$160k - $200k |
2 |
$120k - $160k |
3 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-628-6948