Fondation Desjardins
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.
C
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.
98%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 98 cents are available for programs.
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OVERVIEW
About Fondation Desjardins:
Founded in 1970 by Desjardin Group, Fondation Desjardins’ mission is to support education. The charity operates mainly in Quebec with an office in Levis. Desjardins aims to encourage young people to stay in school by awarding scholarships to students, grants to schools (its Prizes program), and grants to partner organizations. In F2020, the charity helped 322,000 young people.
Scholarships accounted for 41% of program spending in F2020. Desjardins awarded 1,123 scholarships totalling $1.7m in F2020. This is a 75% increase in the number of scholarships compared to 641 in F2019 for a total of $1.1m. In order to be eligible for a scholarship, the student must be a member of a Desjardins Caisse in Quebec or of the Desjardins Ontario Credit Union.
Grants to partner organizations accounted for 32% of program spending in F2020. Desjardins Foundation granted $1.3m to 27 organizations in F2020. The charity reports its grants allowed partner organizations to provide direct assistance to 146,000 young people and 113,000 parents.
Desjardins’ Prizes program accounted for the final 27% of program sending in F2020. The program grants to school and community leaders to carry out projects benefiting kindergarten, elementary and high school students. 421 projects were supported helping 62,000 youth in F2020. In addition to projects in Quebec and Ontario, the charity also supported projects in Alberta and New Brunswick for the first time in F2020.
Desjardins also collects endowment funds and distributes investment income to donor chosen organizations. In F2020, $1.8m was distributed to 147 donor-selected charities.
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Results and Impact
Charity Intelligence did not find any quantified outcomes reported on Fondation Desjardins' website. This charity is not yet rated on impact (n/r).
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Finances
Fondation Desjardins has donations of $7.7m in F2020. Administrative costs are 2% of revenues (less investment income). The charity did not report fundraising costs in F2020. For every dollar donated, 98 cents go to the cause. This is outside of Ci’s reasonable range for overhead spending due to potential lack of disclosure on costs.
Fondation Desjardins is related to the Fédération des caisses Desjardins du Québec. Most of the Foundation's donations come from the Desjardins Group and Caisses (credit unions).
Fondation Desjardins has $66.3m in funding reserves, of which $342.6m is donor endowed. Excluding donor-endowed funds, the charity could cover 651% or around six and a half years of annual granting activity.
This new charity report has been sent to Fondation Desjardins for review. Changes and edits may be forthcoming.
Created on August 11, 2021 by Brenleigh Jebb.
Financial Review
Fiscal year ending December
|
2020 | 2019 | 2018 |
|---|---|---|---|
| Administrative costs as % of revenues | 1.6% | 1.3% | 0.0% |
| Fundraising costs as % of donations | 0.0% | 1.1% | 0.5% |
| Total overhead spending | 1.6% | 2.4% | 0.5% |
| Program cost coverage (%) | 650.9% | 561.1% | 1,030.1% |
Summary Financial StatementsAll figures in $000s |
2020 | 2019 | 2018 |
|---|---|---|---|
| Donations | 7,744 | 6,771 | 8,073 |
| Investment income | 4,372 | 4,628 | (35) |
| Other income | 0 | 0 | 2 |
| Total revenues | 12,116 | 11,399 | 8,040 |
| Grants | 5,766 | 4,928 | 3,039 |
| Administrative costs | 121 | 88 | 0 |
| Fundraising costs | 0 | 77 | 41 |
| Total spending | 5,887 | 5,093 | 3,080 |
| Cash flow from operations | 6,229 | 6,306 | 4,960 |
| Funding reserves | 66,252 | 56,429 | 47,737 |
Note: To report on a cash basis, Ci included changes in subscriptions received decreasing donations by $2.6m in F2020 and $2.1m in F2019. Ci reported other expenses as administrative costs. Ci reported negative expenses as revenue in F2018, affecting revenues and expenses by $2k. The charity did not report administrative costs in F2018. Fondation Desjardins did report any employees on its employee compensation section on its T3010 filing with the CRA.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2019
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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: 418-835-2090