Winnipeg Foundation

1350 - One Lombard Place
Winnipeg, MB R3B 0X3
CEO: Richard L. Frost
Board Chair: Susan Millican

Charitable Reg. #: 11930 0960 RR0001
Sector: Fundraising Organization - Community Foundation
Public Foundation

Social Results Reporting

Grade: C

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 #27

Avg. Compensation $71,815

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 1
$160k - $200k 0
$120k - $160k 0
$80k - $120k 5
$40k - $80k 4
< $40k 0
Information from most recent CRA Charities Directorate filings for F2011

About Winnipeg Foundation:

Founded in 1967, the Winnipeg Foundation helps strengthen its community by ensuring donors can achieve their philanthropic goals. Gifts to the Foundation are pooled and invested, and the income earned is distributed as grants that support community projects. The Foundation also connects donors who wish to establish a scholarship fund with schools in the community and provides administrative services such as advising selection committees and arranging payment of awards.

In 2012, the Winnipeg Foundation made $21.2m in grants to almost 800 charities. Grants were allocated as follows: community service (24%), education (20%), health (19%), arts and culture (16%), heritage (10%), recreation (4%), environment (4%) and fair based designations (2%). Over the Foundation's nine-decade history, it has distributed more than $300m in the community.

Financial Review:

Fundraising costs and administrative costs together are 102% of revenues (not including investment revenue). The organization has funding reserves of $498m (of which $413m is donor-endowed), which cover annual program costs 27.5 times. The Foundation had a return on investment of 12.2% in F2012, and a 10-year average ROI of 5.8%. It paid investment management fees of 0.34% of the fair value of assets in F2012. The Foundation charges a 0.5% fee on its endowment funds.

Financial Ratios

Fiscal year ending September
Fundraising & admin costs as % of revenues 102.3%124.6%146.6%
Program cost coverage (%) 2,752.1%2,265.1%2,383.5%

Summary Financial Statements

All figures in $000s
Donations 3,1272,4221,956
Investment income 22,63022,66223,252
Total revenues 25,75725,08425,208
Grants 18,11019,69019,180
Donor-designated donations 3,1102,3801,797
Fundraising & administrative costs 3,2003,0172,868
Other costs 1,6441,5491,384
Cash flow from operations (307)(1,552)(21)
Funding reserves 498,407445,990457,146
Note: Ci reported investment revenues gross of stated investment manager and trust company custodian fees and included these costs in other costs. This change increased both revenue and expenses by $1.6m in F2012, $1.5m in F2011 and $1.4m in F2010. Ci removed grants from capital apportioned to income, reducing revenue by ($905m) in F2012, ($903m) in F2011, and ($603m) in F2010. Ci removed amortization of $85k in F2012, $101k in F2011 and $99k in F2010 from fundraising and administrative costs.

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