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

Social Results Reporting

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 ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #24

Avg. Compensation $55,620

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 1
$120k - $160k 0
$80k - $120k 3
$40k - $80k 6
< $40k 0
Information from most recent CRA Charities Directorate filings for F2013

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 of FLK's 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.

Financial Review:

In 2013, FLK's administrative costs were 12% of revenues. Its fundraising costs were 49% of donations. FLK's funding reserves were ($7.1m) due to $10.4m in bank loans. It received capital assets worth $8.1m from the Taoist Society of Canada (TSC) in 2013. The TSC forgave $4.2m of FLK's debt in 2012.

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

Updated July 22, 2015 by Yash Ahuja.

Financial Ratios

Fiscal year ending December
201320122011
Administrative costs as % of revenues 12.2%17.3%31.2%
Fundraising costs as % of donations 49.4%23.3%3.0%
Program cost coverage (%) (164%)(290.6%)(999.9%)

Summary Financial Statements

All figures in $000s
201320122011
Donations 1,1171,710905
Goods in kind 419373380
Fees for service 6,4625,6881,168
Business activities (net) 23920245
Other income 800
Total revenues 8,2457,9732,497
Program costs 4,3323,607482
Grants 2060
Administrative costs 1,0061,383780
Fundraising costs 55139827
Other costs 571632298
Cash flow from operations 1,7641,948910
Funding reserves (7,137)(10,496)(11,314)
Note: Ci has adjusted foreign exchange loss affecting expenses by $221k in 2013, by ($36k) in 2012 and by ($56k) in 2011. The Program Cost Coverage for 2011 is (2349.2%) but does not show up on the table above due to technical issues.

Comments added by the Charity:

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