Fred Victor

59 Adelaide Street East, 6th Floor
Toronto, ON M5C 1K6
Executive Director: Mark Aston
Board Chair: David R. Black

Charitable Reg. #: 11893 1377 RR0001
Sector: Social Services - Homeless (Shelter)
Operating Charity

Charity Rating

[Charity Rating: 4/4]

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]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to the Cause

2014 2015 2016
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #321

Avg. Compensation $40,956

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 1
$80k - $120k 9
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2016

About Fred Victor:

Founded in 1894, Fred Victor aims to improve the health, income and housing stability of people experiencing homelessness and poverty. The charity operates 18 different sites across Toronto offering affordable housing, transitional housing, an emergency shelter, food access, job training and counselling, health information and community services, mental health outreach and services, and specialized support services. In 2015, Fred Victor merged with Community Resource Connections of Toronto (CRCT). CRCT has a 40-year history of providing care and support for people with mental health challenges.

The charity reports 2,000 people using its programs and services every day. In F2016, clients stayed 70,810 nights in Fred Victor housing or shelters. Of 7,415 visits to Employment and Training Services, 300 secured employment and 62 previously homeless people were trained and employed in supported work placements. Across Fred Victor programs, 500,000 healthy snacks and meals were served.  

In May 2016, tenants began moving into a 10-story apartment building acquired by Fred Victor through an RFP process with the Ontario government. The apartment building was initially used as part of the athletes village in the 2015 Pan Am/Pan Para games. Located in the Canary District of Toronto, it is now affordable and secure housing for 300 of Fred Victor's tenants.

Financial Review:

Fred Victor is a medium-sized charity with $1.9m in donations. Government funding accounted for the majority of revenue, granting $19.1m to Fred Victor in F2016. Fred Victor also received $503k in rent from clients living in the charity’s affordable housing. Administrative costs were 9% of revenues and fundraising costs were 17% of donations. For every $1 donated, 75 cents go to the cause. This falls within Charity’s Intelligence reasonable range of overhead spending.

The charity has funding reserves of ($1.6m) as it currently carries $6.9m in mortgages payable to the Bank of Canada. Removing donor-endowed funds of $1.3m from total funding reserves, Fred Victor has funding reserves of ($2.9m).

Updated July 5, 2017 by Juliana Badovinac.

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 8.7%14.5%13.8%
Fundraising costs as % of donations 16.7%21.6%2.4%
Program cost coverage (%) (8.4%)(21.2%)(29%)

Summary Financial Statements

All figures in $000s
Donations 1,9081,0941,664
Government funding 19,05211,29610,032
Fees for service 503534432
Investment income 17271315
Other income 495293284
Total revenues 21,97513,48912,728
Program costs 18,89711,16610,498
Administrative costs 1,9051,9141,707
Fundraising costs 31923639
Other costs 142524
Cash flow from operations 840148459
Funding reserves (1,586)(2,372)(3,043)
Note: Investment management fees were removed from net investment income and reported as an expense, increasing revenues and expenses by $14k in F2016, $25k in F2015, and $24k in F2014. Deferred revenues were adjusted to reflect a cash-basis of reporting. As such, revenues were adjusted by $194k in F2016, $878k in F2015, and $398k in F2014.

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