LOFT Community Services
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.
B+
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.
90%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 90 cents are available for programs.
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OVERVIEW
About LOFT Community Services:
LOFT Community Services is a 4-star charity with an above average results reporting grade and reasonable overhead costs. It is financially transparent. The charity can cover six months of annual program costs with current reserves.
Founded in 1967, LOFT Community Services (LOFT) supports people facing mental health and substance abuse issues. LOFT stands for Leap of Faith Together. On April 1, 2022, LOFT amalgamated with Toronto North Support Services. The current report refers to the year F2022 which goes from March 2021 to March 2022, so the effects of the amalgamation are not included.
LOFT reports that more than 40% of Canadians are affected by rising food prices and high costs of living. It also reports that the demand for mental health services increased by 238% since the beginning of the pandemic. LOFT works through 134 housing and service hub locations throughout Toronto, York, and South Simcoe. In F2022 it has helped 13,969 individuals. LOFT offers two types of services: Support Services and Housing Services. The charity does not provide a program spending breakdown.
Support Services include specialized support, outreach services, and group support. LOFT offers specialized, one-on-one support to help individuals navigate health and social services systems, as well as ensure that every client has the specific help they need. Through its Integrated Psychogeriatric Outreach Program (IPOP), LOFT provides psychiatric assessments, treatment planning and education support to help seniors with mental illness and dementia related challenges. The charity also offers campus support and peer support groups. LOFT has mental health and addiction support groups at the University of Toronto and Toronto Metropolitan University. In F2022, LOFT developed a new peer support group, named “Chaos to Calm”, aimed at racialized youth.
Through its Housing Services, LOFT provides supportive housing at over 30 residential locations. In F2022, LOFT had 1,788 bed spaces. LOFT provides housing options with 24/7 medical and mental health support. This is for those clients with complex mental health and addiction issues that prevent them from living by themselves. The charity also offers assisted living services for seniors and adults who can live by themselves, but still need help with activities of daily living. LOFT owns and operates apartment buildings, which are available to clients who prefer to live independently and do not need as much support.
LOFT helps seniors and adults who no longer need the acute care of a hospital, but do not have an appropriate caregiver or housing situation. It helps them transition from hospitals to alternative forms of care or housing. To this end, in June 2021 LOFT started The Path Home program. The program provides respite care for up to 30 low-income seniors who no longer need hospitalization. Through this program, the charity transferred 94 patients from CAMH and University Health Network to LOFT supportive housing. In F2022, LOFT helped 422 clients transition from hospitals to LOFT Community Services housing or long-term care.
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Results and Impact
In 2022, LOFT Community Services received Ontario’s Council of the Federation Award for Innovation in Mental Health and Addictions Care from Canada’s Premiers for The Path Home program. LOFT also received the Seniors Mental Health Outstanding Care & Integrative Practice Award from Canadian Academy of Geriatric Psychiatry and Canadian Coalition for its IPOP program. LOFT won the 2022 Innovation Award from Ontario Non-Profit Housing Association.
While Ci highlights these key results, they may not be a complete representation of LOFT Community Services’ results and impact. This charity is not yet rated on impact (n/r).
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Finances
LOFT Community Services had $12.0m in donations in F2022. Donations increased by 68% from F2021 ($7.1m in F2021). The charity received $54.2m in government funding, which is 68% of total revenues. Administrative costs are 5% of total revenues (less investment income) and fundraising costs are 5% of donations. This results in total overhead spending of 10%. For every dollar donated, 90 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
LOFT had $31.7m in reserve funds in F2022. Reserve funds are the charity’s cash and investments. The charity has six months of annual program costs covered by its current reserves.
This charity report has been sent to LOFT Community Services for review. Changes and edits may be forthcoming.
Updated on July 27, 2023 by Alessandra Castino.
Financial Review
Fiscal year ending March
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 5.1% | 5.4% | 7.7% |
Fundraising costs as % of donations | 5.4% | 5.4% | 4.7% |
Total overhead spending | 10.5% | 10.8% | 12.4% |
Program cost coverage (%) | 52.3% | 49.4% | 40.7% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 11,961 | 7,100 | 5,157 |
Government funding | 54,204 | 44,766 | 38,911 |
Fees for service | 5,762 | 5,802 | 5,767 |
Investment income | 1,988 | 5,778 | (19) |
Other income | 5,266 | 577 | 490 |
Total revenues | 79,182 | 64,024 | 50,306 |
Program costs | 60,686 | 52,476 | 44,941 |
Administrative costs | 3,941 | 3,156 | 3,876 |
Fundraising costs | 644 | 380 | 243 |
Other costs | 203 | 222 | 217 |
Total spending | 65,473 | 56,234 | 49,276 |
Cash flow from operations | 13,709 | 7,789 | 1,030 |
Capital spending | 8,881 | 2,645 | 1,837 |
Funding reserves | 31,746 | 25,915 | 18,272 |
Note: Ci adjusted for government and non-government deferred revenue, affecting total revenues by $242k in F2022, $156k in F2021, and $73k in F2020. In Note 17 of the audited financial statement the charity reports fundraising costs, which were included in the statement of operations under salaries and benefits and administration. Ci removed the fundraising allocation from salaries and benefits and administration on a pro rata basis. Ci reported administrative costs from the charity’s T3010 filings with the CRA.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
6 |
$120k - $160k |
1 |
$80k - $120k |
3 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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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: 416-979-1994