Fung Loy Kok Institute of Taoism

134 D’Arcy Street
Toronto, ON M5T 1K3
Executive Director: Andrew Hung
Founder: Master Moy Lin Shin

Website: www.taoist.org
Charitable Reg. #: 11893 4371 RR0001
Sector: Religion
Operating Charity

Donor Accountability

Grade: C+

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

Cents to The Cause

95¢
75¢
avg
65¢
50¢
2013 2014 2015
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #24

Avg. Compensation $57,375

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 1
$120k - $160k 0
$80k - $120k 1
$40k - $80k 8
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Fung Loy Kok Institute of Taoism:

Founded in 1983, Fung Loy Kok (FLK) Institute of Taoism observes the unified teachings of the three religions of Confucianism, Buddhism and Taoism. It aims to make the Taoist Tai Chi arts available to every community and to promote the health benefits of this ancient practice. All FLK instructors are volunteers and all of its branches are run by volunteers.

FLK has two main programs: International Centre Programs and Health Recovery Programs. The International Centre Programs involve various activities for the advancement of physical, mental and spiritual well-being. These activities are aimed towards the development of the participant's heart, mind and body. Health Recovery Programs are focused on helping people with chronic illness, injuries and aging problems. The charity states that these programs have proven to be effective as complementary therapy in aiding and speeding recovery. FLK also aims to promote awareness about Taoist Tai Chi among the public. The charity hosts an event called International Awareness Day once every year.

In F2016, Fung Loy Kok Institute of Taoism hosted a “Danyu Challenge”, where participants in Canada collectively did 4,893,767 danyus, a squatting exercise focusing on the pelvic region, legs, and lower back. FLK’s programs had a total of 11,721 participants in F2016, with 74% of them being senior citizens. In a nationwide health survey regarding the use of its services, FLK claims over 500 respondents report being able to avoid surgery because of FLK’s programs.

Financial Review:

Fung Loy Kok Institute of Taoism is a medium-sized charity with donations of $1.1m in F2015. Its administrative costs were 8% of revenues, and its fundraising costs were 36% of donations. For every dollar donated, 56 cents go towards FLK’s programs, falling outside of Ci’s reasonable range. FLK has negative funding reserves due to having $8.8m in bank loans. This results in a negative program cost coverage ratio, meaning that the charity cannot fund any of its annual program costs using its reserves, showing a need for funding.

This charity report is an update that is being reviewed by FLK. Changes and edits may be forthcoming.

Updated June 8, 2017 by Kevin Silberberg.

Financial Ratios

Fiscal year ending December
201520142013
Administrative costs as % of revenues 7.8%11.4%11.9%
Fundraising costs as % of donations 36.0%48.0%49.4%
Program cost coverage (%) (150.7%)(208%)(164%)

Summary Financial Statements

All figures in $000s
201520142013
Donations 1,0821,1431,117
Goods in kind 655374419
Fees for service 6,9077,2726,462
Business activities (net) 229265239
Other income 29766229
Total revenues 9,1709,1198,466
Program costs 4,4724,3204,332
Grants 1220
Administrative costs 7121,0351,006
Fundraising costs 389548551
Other costs 582508571
Cash flow from operations 3,0152,7051,985
Funding reserves (6,740)(8,991)(7,137)
Note: Ci has adjusted foreign exchange loss affecting revenue and expenses by $38k in F2014, and by $221k in F2013.

Comments added by the Charity:

No comments have been added by charity
Go to top