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Aga Khan Foundation Canada

199 Sussex Drive
Ottawa, ON K1N 1K6
CEO: Khalil Z. Shariff
Board Chair: Riaz Ahmed

Website: www.akfc.ca
Charitable Reg. #: 10007 2586 RR0001
Sector: International Aid
Operating Charity

Donor Accountability

Grade: C

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements available only upon request [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

95¢
75¢
avg
65¢
50¢
2015 2016 2017
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #68

Avg. Compensation $94,406

Top 10 Staff Salary Range

$350k + 1
$300k - $350k 0
$250k - $300k 1
$200k - $250k 1
$160k - $200k 3
$120k - $160k 1
$80k - $120k 3
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About Aga Khan Foundation Canada:

Founded in 1980, Aga Khan Foundation Canada (AKFC) is an international development organization that is part of the global Aga Khan Development Network. AKFC focuses on social, economic and cultural development to improve living conditions and opportunities for the poor in 15 countries in Africa and Asia. The charity takes a regional approach in that it aims to improve the quality of life and develop regions as a whole. AKFC’s work centers on health, education, gender equality, community leadership, food, and clean water and air. The charity has a vision of equality in which everyone can reach their full potential.

Aga Khan Foundation Canada’s international development work is financed by public support, the Canadian government, collaborations with other development agencies, and direct support from the Aga Khan Foundation in Geneva, Switzerland.

Global Affairs Canada (GAC) works in partnership with Aga Khan Foundation Canada. One of Aga Khan Foundation’s largest current projects, Health Action Plan for Afghanistan (HAPA), running from 2015 to 2020, has a budget of $75.2m, including $55m from GAC and $7m from AKFC. The project targets women of reproductive age and children under five and provides health care services, such as providing health care in remote areas, improving the availability and quality of doctors, and improving health and nutritional practices in rural areas. HAPA helped fund the construction of the Bamyan hospital, which opened in 2016, as well as train local medical professionals. The project aims to benefit over 1.25 million people, including 450,000 Afghans whom the new hospital serves.

AKFC’s 2011-2017 education program in remote areas of Pakistan aimed to engage youth by supporting aspiring youth leaders with skills development and training. The program also aimed to develop the community by improving training and enterprise support services to prepare youth for work. The program focused on gender equality and the charity claimed that the program helped improve women’s income, the prevalence of women-owned businesses, and increased women’s participation in jobs that were traditionally male-dominated. The charity states that the project benefitted 77,680 youth and indirectly reached 174,355 youth.

AKFC’s education program also included a 2014-2017 project aimed to improve access to quality primary education and early childhood development services in five regions in Mali. The charity improved facilities at 18 schools and 30 early childhood development centers as well as trained 744 school management committee members and local leaders and created 42 student governments to improve school management and governance. Cumulatively, AKFC reports that it helped 12,079 primary school children, 4,263 preschool children, and 144,347 women and men.

Financial Review:

Aga Khan Foundation Canada is a Major 100 charity with donations of $82.6m in 2017. Its administrative and fundraising costs were 3% of revenues. For every dollar donated, 97 cents go to the cause, falling outside of Ci’s reasonable range for overhead spending. Ci reports Canadian donations from the charity’s CRA T3010 filings. Since 2017 filings were unavailable at the time the report was written, donations may be overstated and the overhead cost ratio may be understated, bringing AKFC into the reasonable range for overhead spending. The charity does not break out its fundraising costs on its audited financial statements, so Ci uses cost allocations from the charity's CRA T3010 filings. Again, since filings were unavailable at the time the report was written, 2017 administrative costs are reported with fundraising costs.

AKFC has $116.1m in funding reserves, resulting in a program cost coverage ratio of 1.2 years. This coverage means that the charity can 1.2 years of program costs using existing funding reserves.

This charity report is an update that has been sent to Aga Khan Foundation Canada. Changes and edits may be forthcoming.

Updated on August 24, 2018 by Joeyanne Cheung.

Financial Ratios

Fiscal year ending December
201720162015
Administrative costs as % of revenues 0.0%2.9%3.2%
Fundraising costs as % of donations 0.0%4.9%3.4%
Fundraising & admin costs as % of revenues 2.9%0.0%0.0%
Program cost coverage (%) 121.0%75.7%72.7%

Summary Financial Statements

All figures in $000s
201720162015
Donations 82,58030,26838,128
Goods in kind 23,05000
Government funding 43,35149,40747,601
Investment income 979857960
Other income 33,52738,28222,708
Total revenues 183,487118,814109,398
Program costs 95,92180,67667,988
Grants 018,04044,968
Administrative costs 03,4003,464
Fundraising costs 01,4941,287
Fundraising & administrative costs 5,22800
Cash flow from operations 82,33915,204(8,310)
Funding reserves 116,06174,73382,141
Note: Ci used AKFC’s T3010 figures to report Canadian donations and government funding. All non-government and non-Canadian donation revenues are included in other income. Since 2017 filings were unavailable at the time the report was written, Ci reported the charity’s donations figure from its financial statements less donations from AKF and properties received. Ci reported the fair value of the property received under goods in kind.

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