Charlottetown, PE C1A 7L9
President: Vaughn Smith
Director: Gordon Matheson
Charitable Reg. #: 11904 9294 RR0001
Grade: FThe grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Full-time staff #2
Avg. Compensation $52,999
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||0|
|$80k - $120k||0|
|$40k - $80k||2|
About Murchison Foundation:
Founded in 1984, Murchison Foundation aims to assist in providing programs and services for people experiencing mental illness on Prince Edward Island. It seeks to fulfil this mission by granting funds to the Canadian Mental Health Association of P.E.I. (CMHA). The Foundation is named for Dr. Alexander Murchison, a pioneer of mental health services in the province, whose efforts brought great progress in mental health treatment facilities within the province.
Grants are allocated to 4 projects at CMHA: training and development; consumer and family support; Club House Programs; and residential programs and housing.
Murchison Foundation raises funds through two bingo operations in the province: Bingoworld Charlottetown and Bingoworld Summerside. It also rents out commercial space at the Murchison Centre. In F2015, revenue from these activities generated $4.1m in revenues, of which only $97k was granted to the Canadian Mental Health Association.
Murchison Foundation is a medium-sized charity with $4.1m in special events fundraising in F2015. Administrative costs were 18% of revenues and fundraising costs were 78% of special events revenue. For every $1 donated, 3 cents went to the cause. This falls outside of Charity Intelligence’s reasonable range for overhead spending. Funding reserves are ($743k) due to $750k in interest-bearing debt, indicating a need for funding.
This charity report is an update that is currently being reviewed by Murchison Foundation. Changes and edits may be forthcoming.
Updated on July 5, 2017 by Juliana Badovinac.
Financial RatiosFiscal year ending March
|Administrative costs as % of revenues||18.4%||18.5%||19.3%|
|Fundraising costs as % of donations||78.2%||77.8%||69.4%|
|Program cost coverage (%)||(762.2%)||(623.7%)||(458.9%)|
Summary Financial StatementsAll figures in $s
|Cash flow from operations||40,881||22,535||276,790|