Fondation MIRA
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✖
FINANCIAL TRANSPARENCY
Audited financial statements available only through official request for information from Charities Directorate.
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.
79%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 79 cents are available for programs.
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OVERVIEW
About Fondation MIRA:
Fondation MIRA is a 1-star rated charity. It is not financially transparent and has a below average results reporting grade. Its overhead costs are within Ci’s reasonable range. The charity has $11.0m in reserve funds, which can cover three years and three months of annual program costs.
Founded in 1981, Fondation MIRA (MIRA) offers free guide dogs to people living with disabilities. By providing handicapped people with a guide dog, MIRA hopes to increase their autonomy and mobility. The people MIRA helps fall into three different categories: blind and visually impaired, children with Autism Spectrum Disorder (ASD), and people with reduced mobility. The charity does not provide a breakdown of its program spending on these categories.
Since its establishment, MIRA has offered more than 3,700 dogs to people with disabilities. MIRA reports creating 200 dog-owner pairings each year. The dogs remain in service for an average of seven years. The charity reports that the average cost to raise and train a MIRA dog is $30k.
A MIRA dog spends its first year and a half with a foster family before being brought back to the training facilities. The charity reports it currently has 350 families caring for puppies. Trainers then assess whether the dog satisfies the intellectual and physical requirements to become a guide dog. MIRA states that 300 puppies are born in its facilities each year and 60-70% of them are trained. The remaining dogs are offered to their foster family or to the public in exchange for a donation. Dog training varies between five to eight months. Once a dog has been paired with an owner, the pair undergo another week to four weeks of training.
MIRA breeds Labradors, Bernese Mountain Dogs, Labernese, and Saint-Pierres on site. The Labernese is a cross between the Labrador and the Bernese Mountain dog and was created by MIRA’s Founder, Éric St-Pierre. The Saint-Pierre is a second generation Labernese.
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Results and Impact
Charity Intelligence did not find any quantified outcomes on Fondation MIRA's website. This may not be a complete representation of MIRA's results and impact. This charity is not yet rated on impact (n/r).
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Finances
MIRA Foundation is not financially transparent. Its audited financial statements are not posted on its website nor provided when requested. Charity Intelligence's financial review uses the F2021 audited financial statements. This is the most recent information we have received from the Charities Directorate from our request for information. The Charities Directorate has redacted Fondation MIRA’s auditor, one of its program names, and the name of a fund.
MIRA had donations of $8.3m and $257k worth of donated goods in kind in F2021. Administrative costs are 3% of revenues (less investment income) and fundraising costs are 18% of donations. This results in total overhead spending of 21%. For every dollar donated, 79 cents are available for programs, which is within Ci’s reasonable range for overhead spending.
MIRA has $11.0m in reserve funds in F2021, of which $525k is donor endowed. Excluding donor-endowed funds, the charity could cover 324% or three years and three months of annual program costs with current reserves. Since F2019, MIRA’s reserve funds have increased 147% from $4.4m to $11.0m. This is mostly due to a substantial increase in investments. Since program costs have remained steady, this has resulted in the program cost coverage ratio increasing from less than a year (88%) in F2019 to over three years (324%) in F2021.
This charity report is an update that has been sent to Fondation MIRA for review. Changes and edits may be forthcoming.
Updated on August 4, 2023 by Victoria Allder.
Financial Review
Fiscal year ending December
|
2021 | 2020 | 2019 |
---|---|---|---|
Administrative costs as % of revenues | 2.8% | 2.2% | 2.8% |
Fundraising costs as % of donations | 17.8% | 24.2% | 48.2% |
Total overhead spending | 20.6% | 26.4% | 51.0% |
Program cost coverage (%) | 324.4% | 194.3% | 87.5% |
Summary Financial StatementsAll figures in $000s |
2021 | 2020 | 2019 |
---|---|---|---|
Donations | 8,295 | 7,065 | 8,148 |
Goods in kind | 257 | 420 | 1,363 |
Government funding | 290 | 342 | 0 |
Investment income | 401 | 144 | 191 |
Total revenues | 9,242 | 7,972 | 9,702 |
Program costs | 3,265 | 3,250 | 4,511 |
Administrative costs | 248 | 173 | 268 |
Fundraising costs | 1,477 | 1,707 | 3,923 |
Other costs | 50 | 43 | 43 |
Total spending | 5,040 | 5,172 | 8,745 |
Cash flow from operations | 4,202 | 2,800 | 957 |
Capital spending | 505 | 205 | 245 |
Funding reserves | 11,032 | 6,788 | 4,449 |
Note: Ci adjusted for deferred revenue, affecting revenue by $57k in F2021, $153k in F2020 and nil in F2019. Ci recognized interest income and net change in fair value of investments as revenue, affecting total revenue by $401k in F2021, $144k in F2020, and $191k in F2019. Ci removed amortization of deferred contributions related to tangible capital assets from revenues, reducing total revenue by $160k in F2021, $192k in F2020, and $165k in F2019. Ci did not include gain on sale of tangible assests, included as an expense item in MIRA's F2019 audited financial statements, in expenses. This reduced expenses by $6k in F2019.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
5 |
$40k - $80k |
5 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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Comments & Contact
Comments added by the Charity:
Charity Contact
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