Aga Khan Foundation Canada
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
B+
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
Average
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.
94%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 94 cents are available for programs.
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OVERVIEW
About Aga Khan Foundation Canada:
Aga Khan Foundation Canada is a 3-star charity that is not financially transparent. It has an above-average results reporting grade of B+ and reasonable overhead spending of 6%. The charity has been rated Average for demonstrated impact per dollar spent.
Founded in 1980, Aga Khan Foundation Canada (AKFC) is part of the Aga Khan Development Network, a group of international development charities operating globally. AKFC was founded by His Highness the Aga Khan, the 49th Hereditary Iman of the Shia Ismaili Muslims. AKFC strives to break the cycle of poverty across Africa, Asia, and the Middle East by improving living conditions and opportunities for underprivileged people.
AKFC reports reaching over four million people with its projects annually. This includes work in the areas of agriculture and food security, civic engagement, climate resilience, early childhood development, education, engaging Canadians, gender equality and sexual violence, health and nutrition, and work and enterprise. AKFC invests in institutions, projects, and relationships that facilitate an environment supportive of gender equality. The charity reports on its programs either after they have been completed or years after they commenced.
In Aga Khan Foundation Canada’s audited financial statements, it reports spending $14.0m on health programs (16%), $12.7m on education programs (14%), $2.3m on Canadian programs (3%), and $60.3m on multi-input/other programs (67%) in F2023.
In AKFC’s “Broadening Economic & Social Transformation for Women’s Empowerment & Recovery” (BEST4WEER) project, the charity gave technical assistance and advisory services for 99 small and growing businesses in F2023. It also provided 126 grants (totalling $197,183) to local organizations and formed and trained 173 women’s Community-Based Savings Groups. In AKFC’s “Strengthening Partnerships to Advance Sexual and Reproductive Health Rights of Women and Adolescents” (SPARC) project, the charity provided 14 health facilities with equipment and supplies, held 212 monthly mobile clinics and quarterly fairs, and visited 26,783 homes to educate families on sexual and reproductive health and rights. Additionally, AKFC supported 151 schools and non-formal education centres through the “Adolescent Girls Education in Crisis Initiative” (AGENCI).
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Results and Impact
Teeko+ project: 13 new, full-time jobs were created in low- and middle-income communities because of the project. Additionally, 8,693 children (under two years old), 400 girls, and 8,694 women’s lives improved in target communities.
BEST4WEER project: AKFC reports that 49% of female graduates attained improved employment status after completion of a project-supported training program and 75% of supported small and growing businesses reported increased revenue after project support.
SPARC project: AKFC reports that 100% of target health facilities use gender-sensitive HMIS (Health Management Information Systems) data to inform planning, compared to the baseline of 53% four years ago. Additionally, 394,209 people (308,041 women) accessed sexual and reproductive health services though AKFC outreach services.
Foundations for Health and Empowerment project: 93% of Canadians state that their knowledge of international development issues increased following a public engagement activity under the project.
Integrated Newborn Care Kit project: 105 new full-time jobs were created in low- and middle-income communities because of the project and 717 people report a change in awareness, knowledge, attitude, or confidence because of training.
AGENCI project: 96% of targeted formal and non-formal teachers in Uganda demonstrate increased knowledge and skills in pedagogical practices, compared to a baseline of 83% three years earlier.
While Ci highlights these key results, they may not be a complete representation of Aga Khan Foundation Canada’s results and impact.
Charity Intelligence has given Aga Khan Foundation Canada an Average impact rating based on demonstrated impact per dollar spent.
Impact Rating: Average
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Finances
Aga Khan Foundation Canada is a Major 100 charity, meaning it is one of Canada’s largest in terms of donations. It is not financially transparent. Rather than posting its audited financial statements on its website, AKFC requires donors to contact it directly to receive this public information. Of Canada's largest charities, the Major 100, AKFC is one of seven that are not financially transparent.
AKFC had donations of $56.4m in F2023. The charity also received $7.5m worth of donated goods.
The charity received $28.5m in government funding representing 30% of total revenues. It also received $4.4m in investment income.
Administrative costs are 2% of revenues (less investment income) and fundraising costs are 4% of donations. This results in total overhead spending of 6%, which is within Ci’s reasonable range for overhead spending.
Aga Khan Foundation Canada has $116.7m in reserve funds. These reserve funds are the charity’s cash and investments. The charity has 1 year and 4 months of annual program costs covered by its current reserves.
This charity report is an update that has been sent to Aga Khan Foundation Canada for review. Changes and edits may be forthcoming.
Updated on July 30, 2024, by Lily Ferguson.
Financial Review
Fiscal year ending December
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 2.2% | 2.0% | 1.8% |
| Fundraising costs as % of donations | 4.2% | 3.7% | 1.7% |
| Total overhead spending | 6.4% | 5.6% | 3.6% |
| Program cost coverage (%) | 130.7% | 149.1% | 145.0% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 56,431 | 58,558 | 80,833 |
| Goods in kind | 5,293 | 5,900 | 0 |
| Government funding | 28,470 | 24,878 | 16,928 |
| Investment income | 4,359 | 2,131 | 846 |
| Other income | (1,388) | 6,803 | 19,554 |
| Total revenues | 95,412 | 98,269 | 118,160 |
| Program costs - International | 36,710 | 32,614 | 23,142 |
| Program costs - Canada | 2,307 | 1,542 | 1,321 |
| Grants | 50,272 | 47,025 | 60,437 |
| Administrative costs | 2,033 | 1,872 | 2,160 |
| Fundraising costs | 2,346 | 2,159 | 1,383 |
| Total spending | 93,668 | 85,211 | 88,443 |
| Cash flow from operations | 1,744 | 13,058 | 29,717 |
| Capital spending | 6,091 | 4,360 | 14,556 |
| Funding reserves | 116,733 | 121,022 | 123,116 |
Note: Ci adjusted for deferred donations, affecting revenues by ($7.4m) in F2023, ($684k) in F2022, and $12.3m in F2021. Deferred revenue was put in other, as the charity did not breakout government vs non-government revenue. Ci also adjusted for deferred goods in kind, affecting revenues by $7.5m in F2023, $5.9m in F2022, and $nil in F2021. AKFC did not disclose the source of “Other Agencies” and “Other Grants and Income” so Ci included it in other revenue. Ci used the charity's T3010 filing with the CRA to report administrative and fundraising costs.
Salary Information
$350k + |
4 |
$300k - $350k |
0 |
$250k - $300k |
3 |
$200k - $250k |
1 |
$160k - $200k |
1 |
$120k - $160k |
1 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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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.
Charity email: akfc.info@akdn.org
Tel: 613-237-2532