Ottawa, ON K1N 7Z2
Executive Director: Scott Walter
Board Chair: Timothy Hynes
Charitable Reg. #: 11883 4878 RR0001
Grade: BThe 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 #16
Avg. Compensation $79,816
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||0|
|$120k - $160k||1|
|$80k - $120k||3|
|$40k - $80k||6|
Founded in 1959, CODE’s mission is to enable people to learn by developing partnerships that provide resources for learning, promote awareness and understanding, and encourage self-reliance. Under its partnership model, CODE invests in local partner organizations who then invest in the literacy of its communities. It also works in affiliation with the International Book Bank, which supplies books and educational materials to CODE’s partners.
CODE’s main international development program is Reading CODE. The program works with teachers, librarians, writers and publishers to support literacy in K-12 schools. CODE also offers Burt Awards that recognize local literature and provide readers with engaging books.
In F2015, CODE published 276,000 copies of 60 locally-authored titles. It also provided reading materials to 730 school and community libraries. Further, it helped 3,400 teachers, librarians, educational officials, writers, illustrators, editors and publishers gain professional skills. Over 1.6 million children and youth in 8 countries were directly impacted by CODE’s programs in F2015.
In F2015, CODE’s Burt Award program donated 7,359 copies of winning titles to 840 locations across Canada. CODE has also discovered that engaging winning authors in author tours, creative writing workshops and speaking engagements is an effective way to connect with First Nations, Métis and Inuit youth.
Ci has consolidated the audited financial statements of CODE with the statements of CODE Foundation. CODE is a medium-sized charity with donations of $2.4m in F2015. CODE’s administrative costs at 13% of total revenues and its fundraising costs at 25% result in 42 cents on the dollar going towards overhead. This falls outside of CI's reasonable range. CODE has funding reserves of $20.3m, of which $8.3m is donor-endowed funds. This results in a high program cost coverage ratio of 549% (excluding donor-endowed funds), meaning that CODE can continue to run its programs for another 5.5 years using available funding. There is a substantial increase in the program cost coverage ratio as the windup of CODE Incorporated was completed in F2015. This resulted in a $7.4m liquidation dividend paid to CODE.
This charity report is an update that is being reviewed by CODE. Changes and edits may be forthcoming.
Updated on May 17, 2016 by Lynn Tay
Financial RatiosFiscal year ending March
|Administrative costs as % of revenues||17.7%||14.1%||5.6%|
|Fundraising costs as % of donations||24.6%||19.6%||17.2%|
|Program cost coverage (%)||779.0%||296.6%||246.4%|
Summary Financial StatementsAll figures in $000s
|Program costs - International||2,607||3,965||4,589|
|Program costs - Canada||0||0||0|
|Cash flow from operations||1,639||986||897|