Speroway is a 2-star charity that is financially transparent. Its results reporting grade is a C-, which is below average. The overhead spending is 16%, which is within Ci’s reasonable range. Speroway has reserve funds to cover program costs for almost 2 years.

Founded in 2004, Speroway is a Christian charity that supports vulnerable children and communities around the world and in Canada by providing food, education, healthcare, and other essentials. The charity does development work in Malawi, Kenya, Haiti, Dominican Republic, El Salvador, and Nicaragua. The charity states that its goal is to find lasting and integrated solutions to hunger, malnutrition, illness, and illiteracy.

Food & Nutrition: Speroway helps with school feeding programs and community feeding programs to provide necessary meals and nutrition to vulnerable families and children. The charity also runs agricultural projects by giving improved seeds and teaching better farming practices to increase agricultural productivity. Speroway states that it provided over 6,500,000 meals across the world last year. It also states that it contributes nearly 1,000,000 meals to vulnerable people in Canada per year, and nearly 80,000 meals monthly to people in Malawi.

Education: Speroway works at providing scholarships to motivated and high academic achievers, but whose families cannot afford education. The students receive financial support for tuition and school supplies, as well as mentoring, career counselling and leadership development. Speroway also runs life skills programs which focus on trades, such as sewing and language, to increase economic opportunities.

Healthcare: Speroway’s healthcare program includes work on malnutrition, deworming, community health, and basic healthcare and medicine. A clinic in Nicaragua, which is staffed by Nicaraguan nurses, serves approximately 40 people per day.

Speroway had donations of $1.1m in F2023. Speroway also received donated goods and supplies valued at $8.8m.

The charity received $12k in government funding representing 1% of total revenues (excluding donated goods).

Administrative costs are 1% of revenues (less investment income) and fundraising costs are 15% of donations. This results in total overhead spending of 16%. This is within Ci’s reasonable range for overhead spending. 

Speroway has $1.4m in reserve funds. These reserve funds are the charity’s cash and investments. The charity has 1 year and 11 months of annual program costs (excluding donated goods) covered by its current reserves.

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

Updated on June 4, 2024, by Lily Ferguson.