Canadian Foodgrains Bank

400-393 Portage Ave.
Winnipeg, MB R3B 3H6
Executive Director: Jim Cornelius
Board Chair: Donald Peters

Website: www.foodgrainsbank.ca
Charitable Reg. #: 11883 1106 RR0001
Sector: International Aid
Operating Charity

Charity Rating

[Charity Rating: 4/4]

Social Results Reporting

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 for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #35

Avg. Compensation $64,543

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 1
$80k - $120k 4
$40k - $80k 5
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Canadian Foodgrains Bank:

Canadian Foodgrains Bank (CFGB) was founded in 1983 with the mission to work towards ending global hunger. Its vision is a world without hunger. The charity's international programs include food assistance, agriculture and livelihoods, and nutrition. Its food assistance program provides food to people in emergency situations. Its agriculture and livelihoods program aims to increase self-sufficiency by providing seeds, tools and education. Its nutrition program aims to decrease malnutrition rates by providing families with education, clean water and feeding programs.

Canadian Foodgrains Bank also engages in public policy work to change how governments and international institutions deal with food insecure people. Finally, CFGB encourages public engagement by providing educational resources and encouraging giving and advocacy.

In F2015, Canadian Foodgrains Bank funded 125 projects from 39 countries. The countries benefitting from CFGB's work were located in Africa, Asia and the Americas. Under its public engagement and education arm, 43,000 educational materials were downloaded in F2015.

Financial Review:

Canadian Foodgrains Bank is a large charity, with donations of $14.3m (including $5.9m in grain donations) in F2015. This includes $5.9m in grain donations. The majority of its revenues are generated from Foreign Affairs, Trade and Development Canada (DFATD). In F2015, DFATD revenues of $28.6m made up 66% of total revenues. The charity's administrative costs are 6% of revenues and its fundraising costs are 13% of donations. For every $1 donated to Canadian Foodgrains Bank, 81 cents is put towards its programs, falling within Ci's reasonable range. The charity's funding reserves of $38.3m in F2015 results in a program cost coverage ratio of 97%. This indicates that the charity can run its annual programs for 1 year using its current reserves.

This charity report is an update that is being reviewed by Canadian Foodgrains Bank. Changes and edits may be forthcoming.

Updated on June 1, 2016 by Lynn Tay.

Financial Ratios

Fiscal year ending March
201520142013
Administrative costs as % of revenues 5.9%5.9%4.9%
Fundraising costs as % of donations 13.0%10.6%10.2%
Program cost coverage (%) 96.7%107.2%93.3%

Summary Financial Statements

All figures in $000s
201520142013
Donations 8,4109,2749,115
Goods in kind 5,8855,9184,979
Government funding 28,63027,18932,082
Fees for service 909090
Investment income 477464476
Other income 556713
Total revenues 43,54743,00346,754
Program costs 26,22825,61730,079
Grants 13,44614,22212,930
Administrative costs 2,5372,5212,276
Fundraising costs 1,096979926
Cash flow from operations 241(335)545
Funding reserves 38,34742,72040,113
Note: Ci used the charity’s T3010 CRA filing for goods-in-kind revenue and grant expenses as these items were not reported on the charity’s audited financial statements. Ci has adjusted FX gains affecting revenues by $28k in F2015, by $12k in F2014, and by $9k in F2013. Ci has adjusted amortization of capital assets and FX gain affecting expenses by ($134k) in F2015, by ($118k) in F2014, and by ($98k) in F2013.

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