Ottawa Community Foundation

75 Albert St., Suite 301
Ottawa, ON K1P 5E7
President & CEO: Marco Pagani
Board Chair: Tim Redpath

Website: www.ocf-fco.ca
Charitable Reg. #: 11922 7891 RR0001
Sector: Fundraising Organization - Community Foundation
Public Foundation

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

Need for Funding

donor
endowed
Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

95¢
75¢
avg
65¢
50¢
2014 2015 2016
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #14

Avg. Compensation $82,534

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 1
$160k - $200k 0
$120k - $160k 1
$80k - $120k 4
$40k - $80k 4
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Ottawa Community Foundation:

Founded in 1987, Ottawa Community Foundation nurtures philanthropy and works with partners to have an enduring impact on communities. The foundation pools the charitable gifts of many donors into a permanent, income-earning endowment that benefits the community at large and fulfills the philanthropic objectives of individual donors. Grants are made to charities from the earnings of these funds to seed, nurture and support initiatives that strengthen the Ottawa community.

Ottawa Community Foundation manages $124m in total assets and has granted out more than $100m since it was established in 1987. In F2016, the foundation granted $7.9m to 611 charities in the following sectors: social services (27% of total grants), health (16%), international aid (13%), children and youth (11%), education (10%), religion (7%), arts and culture (7%), environment (5%), scholarship (2%), community economic development (1%), and animal welfare (1%). The foundation established 45 new funds in F2016.

Notice to Donors: Charity Intelligence initially reported on community foundations given the large size of donations these foundations receive. In subsequent research and discussions with community foundations, their operating model does not fit with Charity Intelligence's analysis. Community foundations have significantly different cost structures, invested funds, and results that are not comparable with other charities. Donors looking to establish funds within community foundations should assess: 1. prior investment return track records, 2. restrictions on how much is paid out of funds each year to charities (the payout ratio maximum and minimum), 3. the quality of research provided in helping donors grant to charities, and 4. annual fees. Community foundations can provide services making giving easy, as do other financial service providers. Donors should talk with their financial advisor.

Charity Intelligence can update this report on Ottawa Community Foundation, if there is sufficient donor interest.

Financial Review:

Ottaw Community Foundation is a big-cap charity with $14.9m in donations in F2016. Investment income contributed an additional $6.5m to the foundation’s revenues. Administrative costs were 12% of revenues. The foundation did not report any fundraising costs in F2016. As such, for every $1 donated, 88 cents went to the cause. This falls within Charity Intelligence’s reasonable range for overhead spending. The foundation has funding reserves of $130.4m, of which $101.7m are donor-endowed. Excluding donor-endowed funds, Ottawa Community Foundation can cover annual grants 10.3 times.

The foundation paid external investment management fees of 7% of investment income in F2016. It charges service fees of 1.5% on the first $5m of an endowment fund, 0.75% on the next $5m, and 0.25% on any excess over $10. It charges service fees of 2% on scholarship funds and flow-through gifts. In F2016, the foundation collected average service fees of 0.85% of grants. The overall return of the investment portfolio was 6.5% in F2016. The foundation has a 10-year average return of 5.4%.

This charity report is an update that is currently being reviewed by Ottawa Community Foundation. Changes and edits may be forthcoming.

Updated on June 6, 2017 by Juliana Badovinac.

Financial Ratios

Fiscal year ending December
201620152014
Administrative costs as % of revenues 11.5%10.8%15.1%
Program cost coverage (%) 1,656.3%1,250.1%1,343.1%

Summary Financial Statements

All figures in $000s
201620152014
Donations 14,89514,3269,195
Fees for service 676874
Investment income 6,4804,8846,967
Other income 834
Total revenues 21,45019,28116,240
Grants 7,8759,5568,334
Administrative costs 1,7191,5531,396
Other costs 459668442
Cash flow from operations 11,3977,5046,068
Funding reserves 130,437119,459111,934

Comments added by the Charity:

The Community Foundation of Ottawa commends Charity Intelligence for developing a standard profile of charities to help donors make informed decisions but some metrics can be misleading when analyzing a specific charity and in particular, public foundations.

Administrative costs should not be a factor of yearly revenues as endowed gifts vary significantly from year to year. More appropriately, administrative costs should be shown as a percent of assets managed, which is what foundations do, and would be 1.4%.

Fundraising costs are not a line item in our operating expenses but actually are a component of salaries of some staff and would represent 3.7% of donations.

Program cost coverage is again not an appropriate measure for foundations as funding reserves are permanently endowed gifts that are invested and grants are made from the investment income. In fact, the Community Foundation of Ottawa grants almost 100% of available revenues.

As noted in the previous comments, funding reserves are actually permanently endowed gifts and funding reserves is really a misnomer.

Go to top