Momentum Community Economic Development Society
Calgary, AB T2A 6M8
Executive Director: Jeff Loomis
Board Chair: Ted Braun
Charitable Reg. #: 88379 3218 RR0001
Grade: B+The grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Cents to The Cause
Full-time staff #45
Avg. Compensation $79,079
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||4|
|$80k - $120k||6|
|$40k - $80k||0|
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.
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 RatiosFiscal year ending December
|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 StatementsAll figures in $000s
|Fees for service||558||898||1,027|
|Cash flow from operations||401||355||303|