Fred Victor Centre

59 Adelaide Street East, 6th Floor
Toronto, ON M5C 1K6
Executive Director: Mark Aston
Board Chair: Pamela Taylor

Charitable Reg. #: 11893 1377 RR0001
Sector: Social Services - Homeless - Shelter & Drop-In
Operating Charity

Charity Rating

[Charity Rating: 4/4]

Donor Accountability

Grade: A-

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

Full-time staff #105

Avg. Compensation $62,463

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 1
$80k - $120k 6
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2014

About Fred Victor Centre:

Founded in 1894, Fred Victor Centres (FV) works with Toronto's homeless and poor with a focus on providing shelter and housing. In F2014, FV worked with more than 8,000 people (even with F2012's reporting) through 14 locations across Toronto. FV's mission is to be a home and provide the opportunities for meaningful participation in society for all. FV operates 2 homeless shelters with a total of 114 beds (including Toronto's only shelter that accepts pets). Through collaboration with Toronto's "Street to Homes" program, 150 people left the shelter system into homes in F2014. FV operates 80 affordable housing units for families and 96 supportive housing units for previously chronically homeless people. FV's staff work across Toronto to help people living in shelters and on the streets to find a home and keep it. In F2014, FV helped 208 people get housing. FV also runs drop-in centres, serving 42,000 meals in F2014 and providing job training, supports and community projects to Toronto's homeless.

FV is campaigning to raise $3m to adapt and furnish a Pan Am Games facility in Toronto's West Donlands into 108 apartments that will benefit an estimated 300 tenants with affordable and supportive housing. As of January 2015, it has raised $1.9m.

Financial Review:

Administrative costs are 8.3% of total revenues in F2014 with fundraising costs representing 5.3% of donations. As with all charities operating homeless shelters, funding reserves are negative due to large mortgages; FV has $9.0m in mortgages on its shelters and housing facilities. As such, funding reserves are ($3.0)m. FV has donor-endowed funds of $1.3m. A further $1.2m in funding reserves is restricted for capital repairs under agreement with the City of Toronto.

Financial Ratios

Fiscal year ending March
Administrative costs as % of revenues 8.3%7.2%6.9%
Fundraising costs as % of donations 5.3%6.0%6.9%
Program cost coverage (%) (28.2%)(41.5%)(56.5%)

Summary Financial Statements

All figures in $000s
Donations 1,3541,5751,325
Government funding 10,7099,83912,782
Fees for service 450403332
Investment income 28077109
Other income 298320(886)
Total revenues 13,09112,21413,662
Program costs 10,77610,0579,260
Administrative costs 1,067872937
Fundraising costs 719491
Other costs 00384
Cash flow from operations 4868392,990
Funding reserves (3,043)(4,171)(5,229)

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