Momentum Community Economic Development Society

16-2936 Radcliffe Drive SE
Calgary, AB T2A 6M8
Executive Director: Jeff Loomis
Board Chair: Ted Braun

Website: www.momentum.org
Charitable Reg. #: 88379 3218 RR0001
Sector: Social Services
Operating Charity

Charity Rating

[Charity Rating: 4/4]

Social Results Reporting

Grade: B+

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #45

Avg. Compensation $79,079

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 4
$80k - $120k 6
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Momentum Community Economic Development Society:

Established in 1991, Momentum Community Economic Development Society offers hope and opportunity to people living in poverty in Calgary. The charity believes that people can get out of poverty by building strength in five different asset areas, which include personal, physical, social, human and financial. On an individual level, the charity offers training in job skills and financial literacy; and on a community level, the charity works with over 200 community organizations to influence policies and reduce poverty.

As of F2015, 40,000 people have participated in the charity's training programs, 70% of which were employed in their field 6 months after graduation. In F2015, momentum matched $2.9m to program participants, and enabled 135 families to buy their own homes. The charity encourages program participants to pursue self-employment as a means of income, and it loaned $2.4m to local entrepreneurs in support of their small businesses in F2015.

Financial Review:

In F2015, Momentum Community Economic Development Society spent 11% of revenues on administrative costs and 3% of donations on fundraising costs. Total overhead costs of 13% fall within Ci's reasonable range. The charity has funding reserves of $5.3m, which can cover annual programs for 11 months.

Analysis updated by Ruoxi Gao in 2016, currently under review by Momentum Community Economic Development Society.

Financial Ratios

Fiscal year ending December
201520142013
Administrative costs as % of revenues 10.8%10.3%10.6%
Fundraising costs as % of donations 2.5%2.9%2.7%
Program cost coverage (%) 90.4%82.5%64.9%

Summary Financial Statements

All figures in $000s
201520142013
Donations 3,7063,7683,467
Government funding 2,7432,0022,097
Fees for service 5588981,027
Investment income 807171
Total revenues 7,0876,7386,661
Program costs 5,8405,5895,570
Administrative costs 754685696
Fundraising costs 9310892
Cash flow from operations 401355303
Funding reserves 5,2824,6113,613
Note: The charity's F2015 T3010 filing was not posted on the CRA's website when this profile was created and compensation information is based on the charity's F2014 T3010 filing.  

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