Victoria Cool Aid Society is a 4-star charity. It has a B+ results reporting grade, which is above average. Its overhead spending is within Ci’s reasonable range, and it has negative reserve funds.

Founded in 1976, Victoria Cool Aid Society (the Society) offers housing and support services to adults affected by poverty and homelessness. Its vision is a community where everyone has the dignity that comes with home, health, and connection. The Society was formed when the Cool Aid hotline, medical clinic, and dental clinic combined. The Society has three main programs: Housing, Health and Support Services, and Shelters. Victoria Cool Aid Society reports that it helps over 12,000 people annually at 20 locations in Victoria, Saanich, and Langford.

In the fiscal year ending March 2024 (F2024), Victoria Cool Aid Society spent $20.2m (51% of program spending) on Housing. The Society has 609 total housing units. It reports that it has over 550 permanent housing tenants in greater Victoria. In F2024, the Society completed a new building called the Lily. The Lily has 56 new units of supportive housing. The charity reports that it will begin welcoming residents in July 2024. The Society also built 54 new units of supportive housing and 100 new units of affordable housing at its Crosstown development. Move in for new Crosstown tenants is expected to start in the fall of 2024. Victoria Cool Aid Society reports that it is currently building 233 new homes.

In F2024, the Society spent $11.5m (29% of program spending) on Health and Support Services. The Society offers health services through the Community Health Centre (CHC) and Outreach. The CHC has one location in Victoria. Construction is in process for a second CHC at the Crosstown development. Outreach operates out of two mobile health clinics. In F2024, the Society had 52,000 health encounters through the CHC and Outreach. The Society filled 77,000 prescriptions. Outreach conducted 1,200 hep C tests in F2024. The Victoria Cool Aid Society also has a dental clinic.  In F2024, the Society received 4,351 dental visits. The charity offers a Resources, Education, Employment, and Support (REES) program. In F2024, REES provided trauma-informed professional counselling to 350 people. The Downtown Community Centre (DCC) offers free social and recreational activities. In F2024, 20,000 visitors participated in programs at the DCC.

In F2024, the Society spent $8.2m (21% of program spending) on Shelters. The Society has three emergency shelters. Emergency shelters provide 165 guests with a warm bed, meals, healthcare, and other supports. Rock Bay Landing has 84 shelter beds and 23 transitional rooms for residents working to be permanently housed. Sandy Merriman House provides emergency shelter for 25 women who are homeless. At Next-Steps Transitional Shelter, staff help tenants find permanent homes and employment. The Society also operates a temporary shelter at the DCC during the winter.

Victoria Cool Aid Society's F2024 T3010 filing with the CRA is not available at the time of this update. The charity does not fully report administrative and fundraising costs in its audited financial statements. Ci used the charity's annual report to determine program and administrative costs. Fundraising costs were taken from the charity's audited financial statements and are likely understated.

In F2024, Victoria Cool Aid Society received $6.3m in donations. It also received $31.4m in government funding (63% of total revenue). The Society made $760k from fees for service (2% of total revenue) and $6.7m from business activities (13% of total revenue). Fees for service are mainly dental fees. Business activities include pharmacy revenue, and rental income and occupancy fees. Administrative costs are 4% of total revenue (less investment income) and fundraising costs are 6% of donations. Overhead spending is 10%, which is within Ci’s reasonable range. For every dollar donated, 90 cents are available for the cause. Victoria Cool Aid Society spent $40.0m (80% of total revenue) on its programs in F2024.

In F2024, the Society had a surplus of $6.5m and spent $25.5m on capital expenditures.

At the end of F2024, the Society had ($11.6m) in reserve funds (cash and investments). Reserve funds are negative due to long-term debt from mortgages on its properties. $314k of its reserve funds are donor endowed. Excluding debt, the charity has enough reserve funds to cover 27% or three months of its annual program costs.

Victoria Cool Aid Society also spends money on mortgage and construction financing, but this is not reflected in its Statement of Operations. This would affect revenues by ($17.9m) in F2024, ($2.3m) in F2023, and ($18.0m) in F2022.

This charity profile is an update that has been sent to Victoria Cool Aid Society for review. Changes and edits may be forthcoming.

Updated on August 9^th, 2024 by Thea Clark.