Maharam Tav Fund
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✖
FINANCIAL TRANSPARENCY
Audited financial statements available only through official request for information from Charities Directorate.
F
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.
97%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 97 cents are available for programs.
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OVERVIEW
About Maharam Tav Fund:
Maharam Tav Fund is a 0-star charity. The charity is not financially transparent and does not provide audited financial statements to the CRA. It does not report on the results of its programs. Before you give, read Charity Intelligence's report.
Started in 2007, Maharam Tav Fund gives money to organizations and individuals to help relieve poverty through non-interest-bearing loans. Its website reports that it gives money discreetly to those in need to help maintain their dignity.
According to its F2021 T3010 filing with the CRA, Maharam Tav Fund granted $3.8m to grantees in Canada. It also spent $6.8m on activities and programs outside of Canada, a 159% increase from $2.6m in F2020.
Maharam Tav Fund’s T3010 filing with the CRA lists its vice-presidents as Lowy Leser and Joel Klein. Its secretary is Frida Fisher. Joel Klein may also be the secretary/treasurer of Canadian Friends of Ahavas Chesed.
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Results and Impact
Charity Intelligence did not find any quantified outcomes for Maharam Tav Fund. This may not be a complete representation of Maharam Tav Fund’s results and impact.
Maharam Tav Fund is not yet rated for impact (n/r).
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Finances
Maharam Tav Fund is not financially transparent. Its audited financial statements are not posted on its website. Charity Intelligence's financial review uses the F2021 unaudited statements and T3010 filing with the CRA. This is the most recent information we have received from the Charities Directorate from our request for information.
Maharam Tav Fund received $15.2m in donations in F2021, a 53% increase from donations of $10.0m in F2020. Reported fundraising costs are 2% of donations and reported administrative costs are less than 1% of revenues (less investment income). Total overhead costs are 3%. For each dollar donated, 97 cents go to the cause. This is outside of Ci’s reasonable range for overhead spending.
From F2019 to F2021, Maharam Tav Fund spent a total of $15.7m on international programs. It granted money to three individuals over these years. Yochanan Slonim received $8.1m, Elazar Ollech received $4.5m, and Yitchok Raskin received $3.1m between F2019 and F2021.
In Canada, Maharam Tav Fund’s largest grant recipient in F2021, F2020, and F2019 is Bnei Chessed Foundation. This charity had its charitable status revoked in 2021 after an audit by the CRA. From F2019 to F2021, Maharam Tav Fund granted it a total of $15.0m. Its second largest grant recipient over these three years is B’Nai Levi Foundation, another 0-star rated charity. Since 2019, Maharam Tav Fund has granted it $496k.
Ci was unable to contact Maharam Tav Fund for review of this profile.
Updated on August 9, 2023 by Emily Downing.
Financial Review
Fiscal year ending December
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 0.5% | 0.7% | 0.5% |
| Fundraising costs as % of donations | 2.2% | 0.7% | 1.8% |
| Total overhead spending | 2.7% | 1.4% | 2.3% |
| Program cost coverage (%) | 24.3% | 20.3% | 9.1% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 15,226 | 9,970 | 11,473 |
| Investment income | 141 | 0 | 0 |
| Total revenues | 15,367 | 9,970 | 11,473 |
| Program costs - International | 6,777 | 2,613 | 6,324 |
| Grants | 3,753 | 4,757 | 5,258 |
| Administrative costs | 76 | 68 | 52 |
| Fundraising costs | 336 | 72 | 211 |
| Total spending | 10,942 | 7,511 | 11,845 |
| Cash flow from operations | 4,425 | 2,459 | (372) |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 2,561 | 1,495 | 1,050 |
Note: No compensation information is available on Maharam Tav Fund’s T3010 filing with the CRA. In F2021, Maharam Tav Fund had $3.3m in loans receivable. Ci has not included these amounts in reserve funds as there is no information provided on these loans.
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 F2021
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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: 514-447-7785