191 New Toronto Street
Toronto, ON M8V 2E7
CEO: Neil Hetherington
Board Chair: Ben Wise

Charitable Reg. #:11888 1549 RR0001

STAR RATING

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

[Charity Rating: 4/5]

✔+

FINANCIAL TRANSPARENCY

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

A

RESULTS REPORTING

Grade based on the charity's public reporting of the work it does and the results it achieves.

Average

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.

89%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 89 cents are available for programs.



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OVERVIEW

About Daily Bread Food Bank:

Daily Bread Food Bank is a 3-star charity with Average impact. The charity is one of Canada's largest food banks and has a good results reporting grade. It has $33 million in funding reserves that cover program costs for 3.2 years. 

Founded in 1983, Daily Bread Food Bank (Daily Bread) works with its partners to provide food and help for people struggling with hunger in the Toronto area. According to the charity’s 2021 Who’s Hungry report, there were 1.45 million visits to Toronto food banks in 2020, a 47% increase compared to the previous year. In F2021, Daily Bread supplied and distributed food to support 189 food programs in the Greater Toronto Area. These programs are run by 126 member agencies, including shelters, meal programs, and other food banks. 

In F2021, Daily Bread distributed approximately 16.9 million pounds of food, a 30% increase from 12.9 million pounds in F2020. Aside from giving food to partner organizations, Daily Bread also runs its own kitchen. In F2021, its kitchen distributed 101,440 daily meal servings. In June F2021, the charity had 124,000 client visits which was a 50% increase compared to June F2020. In partnership with Red Cross, Daily Bread also distributed 10,643 meals to isolation programs in F2021. 

Daily Bread Food Bank’s research and advocacy division explores hunger and poverty in Toronto and advocates for policy change. In partnership with the North York Harvest Food Bank, the charity published the Who’s Hungry report. The report describes current statistics on the people and areas most affected by hunger, the causes of hunger, and solutions to hunger in the GTA. The 2021 report used data collected from 1,347 surveys and 17 phone interviews. The report also used 164 follow-up surveys from 2020 Hunger Lives Here participants.  

Daily Bread’s advocacy work focuses on tackling deep poverty, affordable housing, food access, and economic and social resiliency. In F2021, the charity collected 15,031 petition signatures calling for Ontario to reduce poverty by 50% by 2030. Daily Bread sent 441 letters to City Councillors advocating for affordable housing policies and had 12 meetings with federal and provincial elected representatives.  

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Results and Impact

In F2021, Daily Bread Food Bank distributed 16.9 million pounds of food to individuals experiencing food insecurity. The food distributed was 33.2% vegetables, 15.2% grains, 14.6% meat and alternatives, 13.7% dairy, 11.9% miscellaneous, 8.0% fruit, 2.0% desserts and snacks, and 1.4% household.  

While Ci highlights these key results, they may not be a complete representation of Daily Bread Food Bank’s results and impact.  

Charity Intelligence gave Daily Bread an impact rating of Average for proven impact per dollar.  

 

Impact Rating: Average

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Finances

Daily Bread Food Bank received $30.3m in monetary donations and $29.3m in food donations in F2021. Daily Bread administrative costs are 1% of revenues (excluding investment income) and fundraising costs are 9% of cash donations. This results in overhead costs of 11%. For every dollar donated, 89 cents go towards the charity’s programs. This is within Ci’s reasonable range for overhead spending.  

The charity has total funding reserves of $32.9m. This is an 86% increase from funding reserves of $17.7m in F2020.This increase is due to increased operating cash flow from higher donations during the covid-19 pandemic. Excluding the cost of donated food, Daily Bread’s funding reserves can cover program costs for 3.2 years.  

Daily Bread paid external fundraisers $177k in F2021 to raise $343k for a cost of $0.52 per dollar raised.  

Charity Intelligence has sent this update to Daily Bread Food Bank for review. Comments and edits may be forthcoming.  

Updated on June 24, 2022, by Emma Saganowich.  

Financial Review


Financial Ratios

Fiscal year ending June
202120202019
Administrative costs as % of revenues 1.3%1.3%1.7%
Fundraising costs as % of donations 9.4%10.3%25.4%
Total overhead spending 10.7%11.6%27.1%
Program cost coverage (%) 317.4%206.6%43.2%

Summary Financial Statements

All figures in $000s
202120202019
Donations 30,33025,2938,916
Goods in kind 29,32225,00620,808
Government funding 11281242
Fees for service 19167190
Investment income 2298454
Other income 609871174
Total revenues 60,62151,50230,385
Program costs 10,3768,5646,262
Donated goods exp 29,32225,00620,808
Administrative costs 769652517
Fundraising costs 2,8442,6102,262
Total spending 43,31136,83229,849
Cash flow from operations 17,31014,670536
Capital spending 8412112,254
Funding reserves 32,92917,6892,706

Note: Ci removed amortization from program, administrative, and fundraising costs based on the charity's allocation in its financial statements. The charity's income statement does not report amortization as a separate line item. Ci removed amortization on a pro-rata basis for this adjustment.

Salary Information

Full-time staff: 78

Avg. compensation: $63,443

Top 10 staff salary range:

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
3
$120k - $160k
4
$80k - $120k
3
$40k - $80k
0
< $40k
0

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.dailybread.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-203-0050

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Charitable Registration Number: 80340 7956 RR0001