Toronto Public Library Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
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
Fiscal year ending December
|
2022 | 2021 | 2020 |
|---|---|---|---|
| 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 StatementsAll figures in $000s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 6,361 | 6,046 | 4,589 |
| International donations | 14 | 17 | 39 |
| Goods in kind | 216 | 105 | 30 |
| Government funding | 0 | 381 | 351 |
| Investment income | (867) | 1,007 | 1,011 |
| Other income | 126 | 111 | (39) |
| Total revenues | 5,850 | 7,666 | 5,982 |
| Grants | 3,445 | 3,440 | 2,951 |
| Fundraising & administrative costs | 2,544 | 2,036 | 1,854 |
| Other costs | 24 | 15 | 16 |
| Total spending | 6,013 | 5,491 | 4,820 |
| Cash flow from operations | (163) | 2,175 | 1,161 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 14,801 | 15,375 | 12,931 |
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
$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:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-393-7123