RainCity Housing
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
B-
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
n/r
DEMONSTRATED IMPACT
The demonstrated impact per dollar Ci calculates from available program information.
NEED FOR FUNDING
Charity's cash and investments (funding reserves) relative to how much it spends on programs in most recent year.
67%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 67 cents are available for programs.
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OVERVIEW
About RainCity Housing:
RainCity Housing is a three-star financially transparent charity. It has a B- results reporting score which is below average. For every dollar donated, 67 cents are available to go to the cause. This is within Ci’s reasonable range.
Founded in 1982, RainCity Housing (RCH) runs both emergency and long-term housing projects for people living in British Columbia’s Sunshine Cost and Lower Mainland regions. It operates 25 services including shelters, apartments, modular housing, harm reduction facilities, indigenous cultural services, and community outreach. The charity runs four main programs: Transitional & Long-Term Housing, Emergency Shelters, Indigenous Cultural & Peer Services, and Outreach Teams.
RainCity Housing has not yet updated its annual report for the 2023 fiscal year. Charity Intelligence used its F2023 audited financial statements for finances and its F2022 annual report for program discussion and breakdown. RCH spent $38.9m on its programs in the fiscal year ending March 2022 (F2022).
Transitional & Long-Term Housing was 66% of RCH’s F2022 program spending. This program provides both stable housing and 24- hour support for people living in its community apartments. The charity reported that 1,194 people lived inside its long-term housing units in F2022.
Emergency Shelters was 13% of RCH’s F2022 program spending. The charity provides both short-term shelter and permanent housing referrals, as well as hot meals to those living within its shelters. In F2022, the charity helped over 900 people at its shelters and served 985,600 meals.
Indigenous Cultural Services & Peer Services was 11% of RCH’s F2022 program spending. This program provides specialized support to Indigenous clients through its Indigenous Cultural Services and Peer Services teams that provide specialized support. In F2022, the charity helped 4,000 Indigenous clients.
Outreach Teams was 10% of RCH’s F2022 program spending. This program includes the charity’s Housing LGBTQ2S+ Youth Program which is reportedly the first of its kind in Canada. In F2022, RCH’s outreach teams connected with over 295 people.
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Results and Impact
In F2022, RainCity Housing provided emergency shelter to over 900 people and served three meals each day of the year. This means that 985,500 meals were served in its shelters in F2022.
The charity also reported helping 1,089 people secure long-term housing in F2022.
While Charity Intelligence highlights these key results, they may not be a complete representation of RainCity Housing’s results and impact. Ci has not yet rated RainCity Housing on demonstrated social impact per dollar spent (n/r).
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Finances
In F2023, RainCity Housing received $644k of donations which is 1% of revenues and a 27% increase from $508k in F2022. The charity also received $48.6m in government funding which is 91% of revenues and a 23% increase from $39.4m in F2022. Administrative costs are 9% of revenues and fundraising costs are 24% of donations. This results in 33% total overhead spending, meaning that for every dollar donated, 67 cents are available to go to the cause. This is within Ci’s reasonable range.
In F2023, RainCity Housing spent $46.5m on its programs which is 87% of revenues and a 20% increase from $38.9m in F2022.
At the end of F2023, RainCity Housing had $9.0m gross and ($21.1m) net reserve funds. Ci backed out $30.1m worth of interest-bearing debts from the charity’s gross reserve funds. Excluding the debt, RCH could cover around four months of its annual program spending.
Profile updated by Julian Dranitsaris on July 26, 2024. Comments and corrections may be forthcoming.
Financial Review
Fiscal year ending March
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 9.3% | 9.4% | 9.1% |
| Fundraising costs as % of donations | 23.5% | 19.4% | 22.7% |
| Total overhead spending | 32.8% | 28.8% | 31.8% |
| Program cost coverage (%) | (45.4%) | (65.1%) | (72.8%) |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 644 | 508 | 476 |
| Government funding | 48,583 | 39,393 | 36,889 |
| Fees for service | 3,559 | 3,253 | 3,328 |
| Investment income | 249 | 105 | 169 |
| Total revenues | 53,034 | 43,258 | 40,862 |
| Program costs | 46,546 | 38,849 | 35,394 |
| Administrative costs | 4,901 | 4,051 | 3,714 |
| Fundraising costs | 151 | 99 | 108 |
| Total spending | 51,598 | 42,998 | 39,216 |
| Cash flow from operations | 1,436 | 260 | 1,646 |
| Capital spending | 360 | 0 | 31 |
| Funding reserves | (21,111) | (25,309) | (25,770) |
Note: 1. LINE ITEM COSTING: Since RainCity Housing follows line item costing and did not separate program, administrative, and fundraising costs, Ci referred to the charity’s T3010 filings with the CRA for these expenses. 2. FUNDING RESERVE ADJUSTMENT: Ci backed out interest-bearing debt from the charity’s gross reserve funds, affecting it by ($30.1m), ($31.0m), and ($31.9m) in F2023, F2022, and F2021 respectively. 3. UNREALIZED INVESTMENT GAIN: Ci backed out unrealized investment gain from its revenues. This affected revenues by ($47k), ($nil), and ($nil) in F2023, F2022, and F2021 respectively. 4. DEFERRED GOVERNMENT FUNDING: Since RainCity Housing also follows deferred accounting, Ci adjusted government funding for changes in deferred government revenue. This affected revenues by $1.1m, $348k, and $559k in F2023, F2022, and F2021 respectively. 5. DEFERRED DONATIONS: Ci also adjusted donations for changes in deferred donations. This affected revenues by $475k, $357k, and $187k in F2023, F2022, and F2021 respectively. 6. ADJUSTMENT FOR DEFERRED CAPITAL CONTRIBUTIONS: Ci also adjusted government funding for changes in deferred capital contributions. This affected revenues by ($372k), ($443k), and $103k in F2023, F2022, and F2021 respectively. 7. ADJUSTMENT FOR DEFERRED BC HOUSING LOAN: Ci also adjusted government revenue for changes in the deferred amount of its forgivable BC Housing loan. This affected revenues by ($512k), ($573k), and ($573k) in F2023, F2022, and F2021 respectively.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
2 |
$80k - $120k |
7 |
$40k - $80k |
1 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 604.662.7023