Praxis Spinal Cord Institute
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.
A-
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.
65%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 65 cents are available for programs.
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OVERVIEW
About Praxis Spinal Cord Institute:
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Results and Impact
Praxis-funded researchers published 250 peer reviewed studies in F2020. Two studies published in Nature, a leading scientific journal, were ranked among the most cited papers in their field in 2020.
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Finances
Praxis Spinal Cord Institute has donations of $105k in F2021. The charity received $10.4m in government funding, representing 96% of total revenues. Administrative costs are 8% of revenues (less investment income) and fundraising costs are 27% of donations. This results in total overhead spending of 35%. For every dollar donated, 65 cents go to the cause. This is just outside of Ci’s reasonable range for overhead spending. There is fluctuation in both fundraising costs and donations causing large swings in the overhead spending ratio.
Praxis Spinal Cord Institute has $2.4m in funding reserves. The charity could cover 24% or almost 3 months of annual program costs with current reserves.
This charity report is an update that has been sent to Praxis Spinal Cord Institute for review. Changes and edits may be forthcoming.
Updated on July 29, 2021 by Brenleigh Jebb.
Financial Review
Fiscal year ending March
|
2021 | 2020 | 2019 |
---|---|---|---|
Administrative costs as % of revenues | 8.2% | 6.8% | 4.7% |
Fundraising costs as % of donations | 26.9% | 71.8% | 23.5% |
Total overhead spending | 35.1% | 78.6% | 28.2% |
Program cost coverage (%) | 24.3% | 66.3% | 107.4% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
---|---|---|---|
Donations | 105 | 370 | 515 |
Government funding | 10,381 | 11,524 | 10,177 |
Investment income | 98 | 176 | 225 |
Other income | 209 | 163 | 53 |
Total revenues | 10,793 | 12,233 | 10,970 |
Program costs | 9,886 | 5,701 | 5,798 |
Grants | 0 | 5,689 | 4,577 |
Administrative costs | 873 | 824 | 509 |
Fundraising costs | 28 | 265 | 121 |
Total spending | 10,787 | 12,479 | 11,004 |
Cash flow from operations | 6 | (247) | (34) |
Capital spending | 181 | 71 | 107 |
Funding reserves | 2,398 | 7,550 | 11,145 |
Note: Ci adjusted for deferred contributions affecting donations by $25k in F2021, ($11k) in F2020, and ($291k) in F2019. Ci reported grants from the charity’s T3010 filing with the CRA in F2020 and F2019 and backed out the amounts out of donations. The 2021 T3010 was not available at the time of this update. Ci included the Canadian Wage Subsidy in administrative costs, increasing expenses by $57k in F2021.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
1 |
$200k - $250k |
1 |
$160k - $200k |
1 |
$120k - $160k |
2 |
$80k - $120k |
5 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2020
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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: 604.827.2421