Toronto Public Library Foundation

789 Yonge Street
Toronto, ON M4W 2G8
Board Chair: Gillian Smith
Vice Board Chair: Pam Laycock

Website: www.tplfoundation.ca
Charitable Reg. #: 88655 4476 RR0001
Sector: Arts & Culture
Public Foundation

Social Results Reporting

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 for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Program Cost Coverage

donor
endowed
Funding Reserves Program Costs

Spending Breakdown

Full-time staff #13

Avg. Compensation $92,905

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 1
$40k - $80k 3
< $40k 6
Information from most recent CRA Charities Directorate filings for F2015

About Toronto Public Library Foundation:

Founded in 1997, the Toronto Public Library Foundation (TPLF) fundraises for the Toronto Public Library Board. TPLF believes Toronto's character and quality depends on the resources available to its people and that a great library is a fundamental requirement for Toronto to achieve its full social and economic potential. The foundation's grants pay for improved collections, community programs, technology upgrades like internet stations, and renovating community spaces.

TPLF tops up the priority needs of Toronto's library branches and services not covered by the City of Toronto's $200m funding. In 2015, Toronto's public libraries had 18.5 million visits. For context, Toronto's public libraries draw more visits each year than Toronto's museums, arts, and sports team combined. Visitors checked out 32 million books in 2015, an average 1.7 books per visit. The City of Toronto's funding per visit is $10.80, 25% higher than Calgary libraries funding per visit of $8.60, and 65% higher than Vancouver's library funding per visit cost of $6.50.

The Toronto Public Library Foundation's annual report highlights two donor-funded programs: TD's Summer Reading Club has grown from a local program into a national initiative promoting cultural diversity. After more than 20 years supporting this program, in 2015 TD continued its support pledging $2.6m to fund the program for three more years. The Sun Life Financial Museum & Arts Pass (MAP) has enabled thousands of families to freely explore Toronto's arts and cultural treasures.

Toronto's Mobile Library Services in funded in partnership with the Catherine and Maxwell Meighen Foundation. In 2015, the Library's bookmobiles made 19,000 visits to disabled, ill, and elderly readers. Toronto Public Library also launched in 2015 a Reach Out and Read program at St. Michael's Hospital providing poor families with early literacy kits funded in partnership with St. Michael's Hospital Foundation, Children's Book Bank, First Book Canada and donations from family doctors. Since 2012, Toronto Library has expanded from 98 branches and opened its 100th branch in 2015. TPLF has a measured charity impact report.

Financial Review:

Toronto Public Library Foundation is a mid-sized charity with annual donations of $3.7 million. Toronto Public Library Foundation has posted three years of consecutive deficits. In 2015, TPLF's administrative costs are 0.1% of revenues because the foundation receives certain services for free from Toronto Public Library. TPLF's increased investment in fundraising has yet to payoff. Combined overhead costs of 58.6% of donations exceed Charity Intelligence's reasonable range. TPLF's funding reserves dropped to $9.3m, which include $3m in donor-endowed funds. Toronto Public Library's investment returns over the last two years are 0.46% and 0.27% respectively. Funding reserves cover annual program costs 3.4 times.

This charity report is an update that is being reviewed by Toronto Public Library Foundation. Changes and edits may be forthcoming.

Updated October 27, 2016 by Matthew King.

Financial Ratios

Fiscal year ending December
201520142013
Administrative costs as % of revenues 0.1%0.5%0.3%
Fundraising costs as % of donations 58.4%56.8%40.4%
Program cost coverage (%) 341.3%334.7%163.2%

Summary Financial Statements

All figures in $s
201520142013
Donations 3,735,1143,602,9213,960,140
Goods in kind 264,515185,368182,121
Investment income 45,13732,82332,015
Total revenues 4,044,7663,821,1124,174,276
Program costs 000
Grants 2,720,4352,957,0267,422,967
Administrative costs 5,14919,04311,635
Fundraising costs 2,182,7972,044,7631,601,363
Other costs 42,82486,60735,345
Cash flow from operations (906,439)(1,286,327)(4,897,034)
Funding reserves 9,284,1919,895,63212,114,932

Comments added by the Charity:

No comments have been added by charity

Visitor Survey

Do you like our website? We need your help.

Please click here to fill out a short (less than 5 minutes) survey

Go to top