FINCA Canada

1124 Marie-Anne Street East, Suite 33
Montreal, QC H2J 2B7
Executive Director: Stephanie Emond
Board Member: Linda Wolfond

Charitable Reg. #: 80568 6144 RR0001
Sector: International Aid
Operating Charity

Donor Accountability

Grade: B

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

Financial Transparency

Audited financial statements available only upon request [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

2013 2014 2015
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #2

Avg. Compensation $44,809

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 0
$40k - $80k 2
< $40k 0
Information from most recent CRA Charities Directorate filings for F2014

About FINCA Canada:

Founded in 2007, Foundation for International Community Assistance Canada (FINCA Canada) is a partner organization of FINCA International, a microfinance institution serving 1.8 million people in 23 countries. FINCA works primarily in Africa, Eurasia, Latin America, Middle East and South Asia. Its mission is “to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living.” FINCA International’s programs include financial intermediation, enterprise development and social impact.

FINCA International’s financial intermediation program provides financial services such as individual, business, agriculture and education loans, savings accounts, money transfers, ATMs and mobile banking to communities in developing countries and emerging markets.  To increase financial inclusion, defined as holding an account at a formal financial institution, FINCA International is using mobile banking, agent banking, payment kiosks and biometrics to increase financial accessibility. In F2014, FINCA International’s clients received $1.6 billion in loans and saved $130.2 million.

FINCA International’s enterprise development program supports entrepreneurs and small businesses. This allows its clients to employ more people and provide goods and services to their communities. In Azerbaijan, 157,000 clients created 125,600 additional jobs and employed 282,600 people.

Finally, its social impact program, FINCA+ Initiatives, provides access to non-financial services such as energy, water, sanitation and education.

Financial Review:

FINCA Canada is a large charity, with donations of $5.3m in F2015. Its administrative costs are 4% of revenues and its fundraising costs are 6% of donations. For every $1 donated to the charity, 90 cents is put towards its programs, falling within Ci’s reasonable range. FINCA’s funding reserves of $6.5m result in a program cost coverage ratio of 135%. This means that it can cover 1.3 years of its annual programs using its existing reserves.

This charity report is an update that is being reviewed by FINCA Canada. Changes and edits may be forthcoming.

Updated on July 4, 2016 by Lynn Tay.

Financial Ratios

Fiscal year ending December
Administrative costs as % of revenues 3.9%5.4%4.1%
Fundraising costs as % of donations 6.4%8.8%11.7%
Program cost coverage (%) 134.5%225.8%846.5%

Summary Financial Statements

All figures in $000s
Donations 5,3284,3914,271
Goods in kind 45239
Other income 692353134
Total revenues 6,0254,7964,444
Program costs - International 4,8372,662457
Program costs - Canada 000
Administrative costs 232259184
Fundraising costs 341388500
Cash flow from operations 6141,4873,303
Funding reserves 6,5056,0123,868
Note: In F2013, Ci adjusted donations for deferred contributions related to the MasterCard Foundation grant by $2.9m. Other income refers to gain (loss) on foreign exchange.

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