St. John's, NL A1B 3P5
Executive Director: Kelly Reid
Board Chair: John Steele
Charitable Reg. #: 11928 6920 RR0001
Grade: D+The grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Cents to The Cause
Full-time staff #0
Avg. Compensation $0
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||0|
About VOCM Cares:
Founded in 1983, the VOCM Cares Foundation (VOCM Cares) funds projects of local Newfoundland charities that focus on the health, education and safety of people in the provincial community. VOCM Cares funded projects for over 38 charities in F2015. The Paraplegic Association was VOCM Cares’ largest funding recipient, receiving $75k, 21% of total funding in F2015.
VOCM Cares is a public foundation of Steele Communications, which is the Newfoundland division of the national radio broadcasting company Newcap Radio. VOCM Cares uses its strong connections with Steele Communications to run multiple fundraising events, including Super Radio Bingo, annual golf tournaments and Happy Tree concerts. The costs associated with the charity's Super Radio Bingo fundraiser account for the majority of VOCM Cares' operating costs.
VOCM Cares is a micro-cap charity with total donations and special events fundraising revenues of $260k in F2015. Administrative costs are 34% of revenues and fundraising costs (excluding Super Radio Bingo) are 19% of donations. $0.53 of every donated dollar goes toward overhead costs, which falls outside Ci’s reasonable range for overhead spending.
VOCM Cares’ annual Super Radio Bingo fundraiser raised $1.1m in F2015, representing 80% of total revenue reported in the audited financial statements. Ci has reported Bingo revenue net of costs related to the event of $672k. Bingo costs are 61% of Bingo revenues. Based on the most recent three years of Ci analysis, the costs associated with Super Radio Bingo are 2.4 times the amount that VOCM Cares distributes to other charities.
VOCM Cares holds funding reserves of $612k, which cover annual program costs related to project funding for 1.8 years.
This charity report is an update that is currently being reviewed by VOCM Cares. Changes and edits may be forthcoming.
Updated on June 30, 2016 by Katie Khodawandi.
Financial RatiosFiscal year ending August
|Administrative costs as % of revenues||34.0%||34.8%||29.2%|
|Fundraising costs as % of donations||19.4%||35.2%||60.0%|
|Program cost coverage (%)||175.7%||224.4%||257.9%|
Summary Financial StatementsAll figures in $s
|Business activities (net)||399,697||422,652||422,740|
|Cash flow from operations||44,581||43,571||82,438|