Canadian Foodgrains Bank

400-393 Portage Ave.
Winnipeg, MB R3B 3H6
Executive Director: Andy Harrington
Board Chair: Kenneth Kim

Charitable Reg. #:11883 1106 RR0001

STAR RATING

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

[Charity Rating: 5/5]

✔+

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.

High

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.

84%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 84 cents are available for programs.



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OVERVIEW

About Canadian Foodgrains Bank:

Canadian Foodgrains Bank is a 5-star rated charity and a top 10 impact charity. It has an A+ grade in results reporting, high demonstrated impact, best practices in financial transparency, and reasonable overhead spending. For every dollar donated to Canadian Foodgrains Bank, 84 cents are available to go to the cause. 

Founded in 1983, Canadian Foodgrains Bank (CFGB) is a Christian International Aid charity that is dedicated to eliminating global hunger. It runs both short term hunger response programs and longer-term programs focused on addressing the systemic causes of hunger. CFGB states that in 2023-2024, there were 783 million people suffering from critical levels of hunger around the world. It reports that 98% of people who experience hunger live in developing countries.

A Charity Intelligence 2024 Top Impact Charity.

The charity runs two main groups of programs: Emergency Food Assistance and Agriculture and Livelihoods. The Emergency Food Assistance programs aim to respond to crises and distribute food to those in need. The Agriculture and Livelihoods programs aim to address the root causes of hunger and provide long-term support and financial assistance. In F2024, the charity helped 1,103,795 people in 35 countries. It ran 81 projects in Africa, five in the Americas, eight in Asia, and five in the Middle East. It ran 135 total projects.

Its Food Assistance programs account for 61% of the charity’s spending. In F2024, CFGB spent $46,267,533 on these programs. Overall, it served 333,922 people with its Food Assistance programs in 16 countries.

Its Agriculture and Livelihoods programs received 34% of the charity’s program spending. In F2024, CFGB spent $25,896,180 on its Agriculture and Livelihoods programs. The programs reached 523,127 people in 24 countries.

The remaining 4% of program spending went towards Public Policy and Public Engagement programs (as well as other miscellaneous spending). The charity’s public policy work involves advocating for legislative changes, such as climate adaptation funding. The charity’s public engagement work aims to build public awareness of hunger and increase public support for its mission.

 

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Results and Impact

In F2023, Canadian Foodgrains Bank distributed 12,479 metric tonnes of food. It gave out $7.1m worth of cash vouchers. It states that because of its work, 227,767 crisis-affected individuals had increased access to food. The charity has not updated these outcome metrics for the 2024 fiscal year at the time of writing.

Charity Intelligence highlights these key results. They may not be a complete representation of Canadian Foodgrains Bank’s results and impact.

Charity Intelligence rates Canadian Foodgrains Bank as High in demonstrated impact per dollar spent.

A Charity Intelligence 2022 Top 10 Impact Charity

Impact Rating: High

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Finances

In F2024, Canadian Foodgrains Bank received $24.2m in Canadian donations and $2.6m in international donations. It also received $38.0m in government funding, accounting for 48% of revenues in F2024. Fundraising costs are 9% of donations and administrative costs are 7% of revenues, for a total overhead spending of 16%. For every dollar donated, 84 cents are available to go to the cause. This is within Ci’s reasonable range for overhead spending.

CFGB has reserve funds of $75.5m. This is enough to cover program costs for just over a year at the F2024 level.

This charity report is an update that has been sent to Canadian Foodgrains Bank for review. Changes and edits may be forthcoming.

Updated July 18, 2024 by Ben Dobozy

Financial Review


Financial Ratios

Fiscal year ending March
202420232022
Administrative costs as % of revenues 7.5%5.0%5.1%
Fundraising costs as % of donations 8.5%8.0%7.8%
Total overhead spending 16.0%12.9%12.9%
Program cost coverage (%) 100.2%103.4%137.8%

Summary Financial Statements

All figures in $000s
202420232022
Donations 24,16224,40119,205
International donations 2,6371,1271,171
Goods in kind (56)00
Government funding 37,97346,72435,148
Fees for service 909090
Investment income 2,0071,225465
Other income 11,44512,01410,861
Total revenues 78,25785,58266,940
Program costs - International 41,11840,44727,016
Program costs - Canada 1,1831,093988
Grants 33,06533,59123,672
Administrative costs 5,6934,1753,413
Fundraising costs 2,0551,9511,493
Other costs 000
Total spending 83,11481,25756,583
Cash flow from operations (4,857)4,32510,358
Capital spending 12310254
Funding reserves 75,49077,67671,214

Note: Canadian Foodgrains Bank uses deferred accounting. To show donors consistent information, Ci has adjusted for deferred revenues. The deferred adjustment to Canadian donations affects Canadian donations by $1.5m in F2024, ($126k) in F2023, and ($674k) in F2022. The deferred adjustment for international donations differs from reported numbers by $640k in F2024,  ($455k) in F2023, and $285k in F2022. The deferred adjustment for government funding differs from reported funding by ($9.0m) in F2024, $4.0m in F2023, and $3.4m in F2022. Ci reported total international donations from the charity’s T3010 filing with the CRA and backed the amount from Canadian donations. CFG reports its unrealized gain (loss) on investments in investment income "below the line" of its reported revenues. Ci reports these unrealized investment gains (loss) in investment income: $631k in F2024,  $77k in F2023, ($41k) in F2022. CFG incurs foreign exchange gains (loss) on its international programs. These f/x gains (losses) were ($1k) in F2024,  ($13k) in F2023, and ($34k) in F2022. Ci includes these costs in CFG's international program costs. CFG's audited financial statements do not disclose grants paid to others. Ci has sourced this material information from CFG's T3010 filing with the CRA. Ci reports grants separately from CFG's international program spending.  To report on a cash basis, Ci backed out amortization from international program costs, administrative costs, and fundraising costs on a pro-rata basis.

Salary Information

Full-time staff: 59

Avg. compensation: $96,193

Top 10 staff salary range:

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
1
$120k - $160k
4
$80k - $120k
5
$40k - $80k
0
< $40k
0

Information from most recent CRA Charities Directorate filings for F2024

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

Website: www.foodgrainsbank.ca
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 204-944-1993

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Charitable Registration Number: 80340 7956 RR0001