Covenant House Vancouver

575 Drake Street
Vancouver, BC V6B 4K8
Executive Director: Krista Thompson
Board Chair: Sean Muggah

Website: www.covenanthousebc.org
Charitable Reg. #: 89767 5625 RR0001
Sector: Social Services - Homeless (Shelter)
Operating Charity

Charity Rating

[Charity Rating: 4/4]

Donor Accountability

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

95¢
75¢
avg
65¢
50¢
2015 2016 2017
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Impact Rating: Fair

Full-time staff #292

Avg. Compensation $30,096

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 2
$120k - $160k 2
$80k - $120k 5
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2017

About Covenant House Vancouver:

Founded in 1997, Covenant House Vancouver helps local youth who do not have a permanent home. These youth may have aged out of foster care or fled physical, emotional, or sexual abuse. Homeless youth in Vancouver often suffer from mental illness, and 85% of these illnesses are undiagnosed. In F2017, the charity helped 1,168 young people aged 16 to 24. Covenant House Vancouver is a part of Covenant House International, which was incorporated in 1972.

Covenant House Vancouver is in the process of constructing 2 new buildings and renovating a third. All buildings are set for completion in 2020 and Covenant House Vancouver hopes to be able to serve 70% more homeless youth.  The project is expected to cost $45 million, of which the B.C. Government provided $5 million in funding.

In F2017, Covenant House Vancouver allocated 51% of program spending to the Shelter and Crisis Care Program. This program has 59 beds available for short-term housing. Young people staying at a crisis centre receive medical treatment, food, and clothing. Covenant House Vancouver also offers support for finding a job, counselling, and treatment for mental illness or substance abuse.

The Rights of Passage program received 24% of spending in F2017. Rights of Passage provides housing for youth while preparing them for living independently. They must set aside a portion of income to mimic paying rent, and they must obey curfew, and attend classes on cooking, personal finance, and self-care.

Community Support Services made up 20% of program spending in F2017. Covenant House Vancouver’s Outreach Team visits youth on the streets and short-term motels of Vancouver. The team helps youth by giving out food, counselling, and minor medical treatment. The team builds relationships with homeless youth and encourages them to go to Covenant House Vancouver for more help.

The remaining 5% of spending was allocated to Public Education.

Results and Impact: Covenant House Vancouver reports that 100% of youth in the Rights of Passage program transitioned off the streets in F2017 and F2018.

Financial Review:

Covenant House Vancouver is a large charity with $17.4m in donations and special events revenues in F2017. Its administrative costs are 7% of revenues and fundraising costs are 20% of donations. For every $1 donated to the charity, 74 cents go to programs, falling within Ci's reasonable range. Covenant House Vancouver has $10.2m in funding reserves, which can cover program costs for 1.1 years.

Covenant House reports having spent $1.9m on professional services, development, and rezoning related to the extraordinary capital project in process. The organization also reports $5.9m in deferred contributions related to this project.

This charity report is an update that has been sent to Covenant House Vancouver for review. Changes and edits may be forthcoming.

NOTE: Donors are asking why the financial numbers Charity Intelligence reports are different from the financial numbers Covenant House Vancouver is reporting. First, Covenant House Vancouver's financial numbers are fine and much improved. Second, Charity Intelligence consistently reports for all charities a. donations when received (not when spent), and b. adjusts program and other costs for non-cash expenses, namely amortization. Charities may have different ways of presenting their ratios. That's fine. For more details on financial analysis of charity reporting, read more here

Updated on October 9, 2018 by Katie Khodawandi.

Financial Ratios

Fiscal year ending June
201720162015
Administrative costs as % of revenues 6.9%7.8%8.0%
Fundraising costs as % of donations 19.5%27.8%29.9%
Program cost coverage (%) 113.4%61.7%34.1%

Summary Financial Statements

All figures in $000s
201720162015
Donations 17,19913,89912,466
Government funding 8631,004776
Special events 156132132
Investment income 60159
Other income 353168106
Total revenues 18,63215,21713,489
Program costs 8,9958,6388,004
Administrative costs 1,2841,1871,084
Fundraising costs 3,3813,9023,768
Cash flow from operations 4,9721,490633
Funding reserves 10,1975,3262,726
Note: To report on a cash basis, Ci adjusted for deferred contributions received during the year and omitted amortization of deferred capital contributions, affecting total revenues by $3.9m in F2017, $802k in F2016, and $584kk in F2015. Ci omitted amortization of property and equipment, decreasing total expenses by $356k in F2017, $352k in F2016, and $344k in F2015. Amortization not allocated to programs was omitted from administrative and fundraising expenses on a pro-rata basis.

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