Horizon Housing Society

400, 105 – 12 Avenue SE
Calgary, AB T2G 1A1
Executive Director: Kim O'Brien
President: Ian MacDonald Q.C.

Website: www.horizonhousing.ab.ca
Charitable Reg. #: 12196 3573 RR0001
Sector: Social Services - Homeless
Operating Charity

Social Results Reporting

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 ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #19

Avg. Compensation $58,220

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 0
$40k - $80k 10
< $40k 0
Information from most recent CRA Charities Directorate filings for F2014

About Horizon Housing Society:

Established in 1976, Horizon Housing Society (HHS) provides homes to individuals from varied backgrounds and experiences, including people living with mental health challenges, brain injuries, and physical disabilities, individuals, seniors and families living below the poverty line, and the working poor. The average tenancy for HHS is over five years and the longest tenancy is over 25 years.

HHS specializes in affordable housing within the City of Calgary. It is primarily responsible for the acquisition and property management of its buildings, while collaborating with other community organizations that refer tenants or provide the necessary services and or support they require. Today, Horizon Housing Society owns and manages 15 different residences (seven multifamily buildings and eight supported homes) in Calgary that provide a safe home to over 700 individuals. HHS promotes a mixed-use concept for its apartments, which helps reduce the stigma attached to a particular group. This model promotes community integration and acceptance while enhancing the quality of life for its tenants.

Financial Review:

Administrative costs were 6% of total revenues and fundraising costs were 52% of donations; however, donations account for only 11% of total F2015 revenue,with almost all of its revenue derived from rental and government programs. The funding reserves are negative, due to total debt of $7.3m. Excluding this debt, reserves would be $5m and cover annual program costs 2.1 times.

This charity report is an update that is being reviewed by HHS. Changes and edits may be forthcoming.

Updated on August 27, 2015 by Rohan Bhargava

Financial Ratios

Fiscal year ending March
201520142013
Administrative costs as % of revenues 6.4%6.4%4.9%
Fundraising costs as % of donations 52.4%110.2%32.6%
Program cost coverage (%) (86.9%)(128.3%)(167.7%)

Summary Financial Statements

All figures in $s
201520142013
Donations 469,321140,765210,974
Goods in kind 52,20152,20152,201
Government funding 776,863847,6801,605,272
Fees for service 2,643,1402,503,6762,416,945
Investment income 49,81652,27924,196
Other income 293,214283,135273,563
Total revenues 4,284,5553,879,7364,583,151
Program costs 2,435,9852,282,3242,223,942
Administrative costs 269,551243,442220,986
Fundraising costs 245,703155,08268,835
Other costs 367,487374,395413,029
Cash flow from operations 965,829824,4931,656,359
Funding reserves (2,116,705)(2,927,944)(3,729,756)

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