525 Seymour Street, Suite 103
Vancouver, BC V6B 3H7
President & CEO: Rob Turnbull
Board Chair: John McLeron

Charitable Reg. #:80818 9617 RR0001

STAR RATING

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

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FINANCIAL TRANSPARENCY

Audited financial statements available only through official request for information from Charities Directorate.

A-

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.

29%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 29 cents are available for programs.



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OVERVIEW

About Streetohome Foundation:

Streetohome Foundation (Streetohome) was established in 2008 through a partnership between Vancouver Foundation, the City of Vancouver, and the Province of British Columbia. Streetohome tackles homelessness by providing safe, supportive, and affordable housing for people at risk of or experiencing homelessness in Vancouver. The charity does not directly provide housing – it funds charities and other non-profits in the Vancouver community that build homes or run housing programs. In 2015, Streetohome shifted its focus to include homelessness prevention. The charity reports that it has funded 11 projects and helped 2,361 people since it made this change. Streetohome granted a total of $47k in F2019. This is a 98% decrease from F2018, in which the charity granted $2.2m.

In F2019, Streetohome gave $25k to First United Church for the Homeward Bound Program, representing 54% of total grants. Through Homeward Bound, Homelessness Services System providers coordinate travel for people in need. The providers ensure that housing is available in the new community and family and friends will support the participant. In F2019, the program assisted 17 individuals.

In F2019, Streetohome spent $10k on its Smart Cities – Life Intentions project, making up 22% of total grants. Smart Cities – Life Intentions is a paper tool for homeless people. It includes an action plan and resource guide, service navigation, and progress tracking. The goal of the tool is to reduce stigma and disconnection between homeless people and homeless services. Since the launch of the project, 178 people in eight supportive housing units have used the tool. Streetohome hopes to increase accessibility to the tool by creating a digital app.

In F2019, Streetohome spent $10k on the Recovery Café project, representing 20% of total grants. The Recovery Café is a safe place for people recovering from homelessness, poverty, drug abuse, and mental health challenges.

The remaining 4% of grants ($2k) went to the City of Vancouver for the Supporting Tenants, Enabling Pathways Program (STEP). Streetohome reports that STEP has assisted 74 people to move into independent housing since 2017.  

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Results and Impact

In F2019, Streetohome’s Smart Cities Business Case won KPMG’s National Social Impact Award. The case outlines a plan to reduce stigma surrounding homelessness and disconnection between homeless services and vulnerable individuals.

According to Streetohome, it costs $18k less for Vancouver’s social services and healthcare system to care for homeless people when they are in supportive housing compared to on the street. Thus, Streetohome creates a positive economic impact of $18k each time it houses someone. It is unclear when Streetohome collected this information.

Streetohome reports that it has prevented 4,407 people from becoming homeless since 2008.

While Charity Intelligence highlights these key results, they may not be a complete representation of Streetohome’s results and impact. This charity is not yet rated on impact (n/r).

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Finances

The following financial analysis uses figures from unaudited financial statements. Streetohome is not financially transparent. Ci received unaudited statements after making a formal request from Canada Revenue Agency. F2019 figures reflect the most recent information Ci received.

In F2019, Streetohome Foundation had total donations of $278k. The charity also received $400k in government funding, representing 52% of total revenues. Donations dropped 76% from F2018 without indication of potential reasons.

Administrative costs are 29% of revenues and fundraising costs are 42% of donations. This results in total overhead spending of 71%. For every dollar donated, 29 cents go to the cause, which is outside Ci’s reasonable range for overhead spending. In F2018, overhead spending was 22%. The increase in overhead spending from F2018 to F2019 is mainly due to the 76% decrease in donations and the 57% decrease in total revenues. Streetohome’s 3-year average for overhead spending is 36%.  

In F2019, Streetohome had funding reserves of $5.5m. Streetohome could run its programs and grant at the F2019 level for 23 years with reserves, or, using the average grants and program spending over the past 3 years, current reserves could cover 4 years. This compares to 2.2 years of program cost coverage in F2018. This increase is primarily due to the 98% decrease in total grants from F2018 to F2019.

Charity Intelligence sent an update of this report to Streetohome for review. Changes and edits may be forthcoming.

Updated on July 14, 2021 by Sydney Olexa.

Financial Review


Financial Ratios

Fiscal year ending December
201920182017
Administrative costs as % of revenues 28.6%12.1%8.7%
Fundraising costs as % of donations 42.3%9.8%7.2%
Total overhead spending 70.9%21.9%15.9%
Program cost coverage (%) 2,343.1%219.1%454.9%

Summary Financial Statements

All figures in $s
201920182017
Donations 278,4531,162,6721,731,125
Government funding 400,000400,000460,000
Investment income 92,94271,19353,452
Total revenues 771,3951,633,8652,244,577
Program costs 189,018242,886331,775
Grants 46,7042,150,0001,065,534
Administrative costs 193,994188,817189,674
Fundraising costs 117,674113,972125,376
Total spending 547,3902,695,6751,712,359
Cash flow from operations 224,005(1,061,810)532,218
Funding reserves 5,523,1325,242,2126,357,013

Note: Ci reported administrative and fundraising costs from the charity's T3010 filings with the CRA. To report on a cash basis, Ci adjusted for deferred interest income and deferred donations. This affected donations by $152k in F2019, ($1.1m) in F2018, and $452k in F2017 and increased investment income by $83k in F2019, $61k in F2018, and $46k in F2017. 

Salary Information

Full-time staff: 3

Avg. compensation: $126,950

Top 10 staff salary range:

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
1
$160k - $200k
0
$120k - $160k
0
$80k - $120k
0
$40k - $80k
2
< $40k
0

Information from most recent CRA Charities Directorate filings for F2019

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Comments & Contact

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Charity Contact

Website: www.streetohome.org
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 604.629.2711

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