Habitat for Humanity Iqaluit

P.O. Box 1989, Building 741
Iqaluit, NU X0A 0H0
Executive Director: none
Board Chair: Glenn Cousins

Website: www.habitatiqaluit.ca
Charitable Reg. #: 81662 4142 RR0001
Sector: Social Services - Housing
Operating Charity

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 available only through official request for information from Canada Revenue Agency [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #0

Avg. Compensation $0

Top 10 Staff Salary Range

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

About Habitat for Humanity Iqaluit:

Founded in 2006, Habitat for Humanity Iqaluit (HFHIQ) is dedicated to improving housing conditions for people who are gainfully employed but are unable to afford a down payment due to the cost of housing in the North. HFHIQ builds and rehabilitates houses with the help of volunteers and partner families. The homes are sold to partner families with no down payment and are financed with no-interest mortgages. The homeowners' mortgage payments go into a revolving fund, which is used to build more homes for more families in need.

HFHIQ has built 2 homes since its founding. Its goal is to mobilize 1,000 volunteers to build 10 homes by 2020. The charity reports no full-time employees and one part-time employee, whose compensation was $52,700 in F2012.

Financial Review:

Fundraising costs are 30% of donations and administrative costs are 14% of revenues. The charity has funding reserves of $154k, which cover annual program costs 1.7 times. Excluding mortgages receivable, the charity has funding reserves of $38k, which cover 79% of annual program costs.

Financial Ratios

Fiscal year ending December
Administrative costs as % of revenues 13.5%12.2%14.4%
Fundraising costs as % of donations 30.1%46.6%15.9%
Program cost coverage (%) 174.7%1,463.3%1,200.1%

Summary Financial Statements

All figures in $s
Donations 58,63762,49389,987
Goods in kind 32,62036,7878,350
Government funding 27,5604,2652,595
Business activities (net) 18,00018,00016,500
Special events 79,74391,72387,552
Investment income 0270
Total revenues 216,560213,295204,984
Program costs 88,03620,70625,238
Administrative costs 29,15925,96329,475
Fundraising costs 41,67071,82028,287
Bank And Other Charges 2,8312,7152,780
Cash flow from operations 54,86492,091119,204
Funding reserves 153,826302,993302,889
Note: Ci removed the non-cash portion of interest income from revenue, reducing revenue by $3k in F2012, $3k in F2011 and $3k in F2010. The breakdown between administrative, fundraising and program costs is based on our best estimates, as the charity does not provide a breakdown.

Comments added by the Charity:

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