Toronto Public Library Foundation

789 Yonge Street
Toronto, ON M4W 2G8
CEO: William Scott
Board Chair: Anne Maggisano

Charitable Reg. #:88655 4476 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 3/5]

✔+

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.

62%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 62 cents are available for programs.



My anchor

OVERVIEW

About Toronto Public Library Foundation:

Toronto Public Library Foundation is a three-star charity. It has an A- results reporting grade, which is above average. For every dollar donated to the charity, 62 cents are available to go to the cause, which is outside Ci's reasonable range.

Founded in 1997, Toronto Public Library Foundation (TPLF) fundraises for the Toronto Public Library Board (TPL). TPLF believes that Toronto’s character depends on its resources, and a great library is crucial to achieving its full potential. The foundation's grants pay for improved collections, community programs, renovations, and technology upgrades. The Toronto Public Library now features over 100 branches with a collection of more than 10 million items, including books, CDs, DVDs, and e-books.

TPLF began a Sanctuary Collection in F2022. This program provides access to books that have been censored or removed from a public library or school. There are 50 books in the Sanctuary Collection in F2022. TPLF also helps fund Youth Hubs at libraries. Youth Hubs are spaces within libraries available for teens in the summer and after school. There are 23 Youth Hubs at TPL branches in F2022.  

TPLF provided a link to Toronto Public Library’s (TPL) F2021 annual report. TPL states Torontonians borrowed 24.2 million library materials in F2021. There were more than four million branch visits in F2021. Over 114,000 people registered for a library card in F2021, bringing the total to 1.2 million.

My anchor

Results and Impact

In 2019, Toronto Public Library conducted a controlled satisfaction survey of both users and non-users of the library. The charity found that satisfaction levels are high at 91%, with the highest satisfaction percentage being those who have lived in Canada for under ten years (98%). 

While Ci highlights these key results, they may not be a complete representation of Toronto Public Library Foundation’s results and impact.

My anchor

Finances

Toronto Public Library Foundation received $6.4m in donations in F2022. The charity reports administrative and fundraising costs combined within its audited financials. Fundraising and administrative costs are 38% of revenue (excluding investment income). For every dollar donated to the charity, 62 cents are available to go to the cause. This is not within Ci’s reasonable range for overhead spending.

TPLF has $14.8m in reserve funds, of which $4.2m is donor endowed. Excluding donor-endowed funds, the charity can cover 328%, or three years and three months of its annual program costs.

This charity report is an update that has been sent to Toronto Public Library Foundation. Changes and edits may be forthcoming.

Updated August 8, 2023 by Liam Chapleau.

Financial Review


Financial Ratios

Fiscal year ending December
202220212020
Fundraising & admin costs as % of revenues 37.9%30.6%37.3%
Total overhead spending 37.9%30.6%37.3%
Program cost coverage (%) 328.0%357.3%337.5%

Summary Financial Statements

All figures in $000s
202220212020
Donations 6,3616,0464,589
International donations 141739
Goods in kind 21610530
Government funding 0381351
Investment income (867)1,0071,011
Other income 126111(39)
Total revenues 5,8507,6665,982
Grants 3,4453,4402,951
Fundraising & administrative costs 2,5442,0361,854
Other costs 241516
Total spending 6,0135,4914,820
Cash flow from operations (163)2,1751,161
Capital spending 000
Funding reserves 14,80115,37512,931

Note: Ci adjusted grants by changes in payables to the Toronto Public Library Board. This affected grants and total expenses by ($359k) in F2022, ($277k) in F2021, and ($66k) in F2020. Ci included unrealized changes in investments, impacting revenue by ($1.6m) in F2022, $260k in F2021, and $468k in F2020. Ci included deferred revenue within other revenue as the charity did not disclose the source. This impacted revenue by $126k in F2022, $111k in F2021, and ($39k) in F2020.

Salary Information

Full-time staff: 15

Avg. compensation: $117,354

Top 10 staff salary range:

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
1
$160k - $200k
2
$120k - $160k
1
$80k - $120k
6
$40k - $80k
0
< $40k
0

Information from most recent CRA Charities Directorate filings for F2021

My anchor

Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

Website: www.tplfoundation.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-393-7123

Print  
Image

Charity Intelligence researches Canadian charities for donors to be informed and give intelligently. Our website posts free reports on more than 800 Canadian charities, as well as in-depth primers on philanthropic sectors like Canada’s environment, cancer, and homelessness. Today over 500,000 Canadians use our website as a go-to source for information on Canadian charities reading over 1.6 million charity reports. Through rigorous and independent research, Charity Intelligence aims to assist Canada’s dynamic charitable sector in being more transparent, accountable and focused on results.

 

Be Informed. Give Intelligently. Have Impact

 

Charitable Registration Number: 80340 7956 RR0001