1410 Kootenay Street
Vancouver, BC V5K 4R1
Executive Director: Kandys Merola
Board Chair: Danny Redden

Charitable Reg. #:87416 1482 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 3/5]

✔+

FINANCIAL TRANSPARENCY

Audited financial statements for current and previous years available on the charity’s website.

C+

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.

48%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 48 cents are available for programs.



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OVERVIEW

About TB Vets:

TB Vets is a 2-star rated charity that is not financially transparent and has below average accountability to donors as seen in the C+ results reporting grade. For every dollar donated to this charity, 48 cents go to the cause. This is outside Ci's reasonable range for overhead spending.

Founded in 1946, TB Vets Charitable Foundation (TB Vets) provides funding to help British Columbians who suffer from respiratory emergencies and illnesses. The charity mainly provides grants to buy new equipment and fund medical research. Globally, tuberculosis (TB) is one of the top ten leading causes of death by a single infectious agent, and is most prevalent in developing countries. TB infects around 300 people in British Columbia each year.

TB Vets provides grants for three programs: respiratory equipment, research, and education.

Respiratory equipment represented 83% of grant spending in F2021. TB Vets provides funds to various hospitals in BC to purchase critical medical equipment. These include adult ventilators, newborn ventilators, airway imaging tools, and portable ventilators for transporting patients. Each of these tools aids patients who are unable to breathe independently. In F2021, TB Vets reports that it provided 28 grants for ventilators and medical equipment.

Research grants were 8% of spending in F2021. TB Vets funds innovative research to improve health and quality of life for patients with respiratory diseases. In F2021, the charity funded two research projects. TB Vets awarded $45k to Vancouver General Hospital and the University of British Colombia for research on TB. The charity also granted $40k to Royal Columbian Hospital for research on mechanical ventilation.

Education programs represented 2% of spending in F2021. TB Vets provides bursaries for students in the Respiratory Therapy Program at Thompson Rivers University, a university in Kamloops, BC. In F2021, the charity donated $21k to support Respiratory Therapy students.

The remainder of spending in F2021 (7%) was allocated to Recreation Therapy and First Responders.

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Results and Impact

Since 1980, TB Vets reports that it has purchased around 20 ventilators each year. TB Vets states that a ventilator is used roughly five times per day in an emergency room. Based on these figures, the charity estimates that its ventilators have helped a total of 2,737,500 patients.

While Ci highlights these key results, they may not be a complete representation of TB Vets’ results and impact.

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Finances

TB Vets reported donations of $2.1m in F2021. TB Vets awarded $1.1m in grants during the year. Administrative costs are 25% of revenues (less investment income) and fundraising costs are 27% of donations. This results in total overhead spending of 52%. For every dollar donated, 48 cents go to the cause. This falls outside of Ci’s reasonable range for overhead spending.

TB Vets has total funding reserves of $2.6m, of which $1.7m is donor-endowed. Excluding donor-endowed funds, the charity’s funding reserves can cover 95% or nearly one year of annual program costs.

This charity report is an update that has been sent to TB Vets for review. Changes and edits may be forthcoming.

Updated on July 21, 2022 by Angelina Curwin.

Financial Review


Financial Ratios

Fiscal year ending September
202120202019
Administrative costs as % of revenues 25.0%23.1%33.7%
Fundraising costs as % of donations 26.7%21.8%28.6%
Total overhead spending 51.7%44.9%62.2%
Program cost coverage (%) 95.0%94.6%133.3%

Summary Financial Statements

All figures in $s
202120202019
Donations 2,069,9251,865,9131,425,449
Government funding 0134,6670
Lotteries (net) 101,38000
Investment income 416,913(11,850)168,324
Total revenues 2,588,2181,988,7301,593,773
Grants 1,110,587995,173803,124
Administrative costs 541,908461,943479,703
Fundraising costs 553,151406,882407,217
Other costs (15,361)(14,738)(13,165)
Total spending 2,190,2851,849,2601,676,880
Cash flow from operations 397,933139,470(83,106)
Capital spending 4,823023,063
Funding reserves 2,632,4462,262,3252,379,305

Salary Information

Full-time staff: 8

Avg. compensation: $62,166

Top 10 staff salary range:

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
0
$120k - $160k
0
$80k - $120k
1
$40k - $80k
6
< $40k
1

Information from most recent CRA Charities Directorate filings for F2021

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

Website: www.tbvets.org
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 604-874-5626

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Charitable Registration Number: 80340 7956 RR0001