ShareLife
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
C
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.
90%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 90 cents are available for programs.
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OVERVIEW
About ShareLife:
ShareLife is a 2-star charity. It has a below average results reporting grade. It is financially transparent and has overhead spending within Ci's reasonable range. With it current reserves, the charity can cover seven months of annual program costs.
Founded in 1976, ShareLife aims to live the Gospel by providing for those in need. Established by the Roman Catholic Episcopal Corporation for the Diocese of Toronto in Canada, it operates as an intermediary that funds over 40 different agencies. ShareLife selects agencies that serve vulnerable groups, from struggling families to elderly people. In F2022, ShareLife reported that it reached 150,000 people in need.
ShareLife funds ten program areas; its three largest are family services, education of clergy, and agency support and advocacy.
Family services represented 33% of grants in F2022. ShareLife funds agencies that provide family or couples counselling, mental health support, and psychotherapy. Sharelife reports that over 24,000 clients are served annually by the Catholic Family Services agencies that it funds.
ShareLife allocated 15% of its grants to education of clergy in F2022. ShareLife provides religious scholars in need of funding with opportunities to study at St. Augustine’s Seminary or Redemptoris Mater Missionary Seminary. ShareLife supported 58 scholars in their studies during the 2021-2022 academic year.
In F2022, ShareLife distributed 10% of its grants to agency support and advocacy. This included funding for special projects such as the Shared Services initiatives and senior care and outreach research.
The remaining grants went to various program areas, supporting people with special needs (8%), international development (7%), children and youth (6%), young parents (6%), grants-in-aid agencies (5%),immigrants and refugees (5%), and seniors (4%).
In F2021, ShareLife’s three largest grant recipients were St. Augustine’s Seminary ($2.0m), Catholic Family Services of Toronto ($1.7m), and Catholic Family Services of Peel-Dufferin ($1.1m).
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Results and Impact
ShareLife reports that every year it provides 3.0 million kg of food and clothing to communities in need through Canadian Food for Children.
While Ci highlights these key results, they may not be a complete representation of ShareLife’s results and impact. This charity is not yet rated on impact (n/r).
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Finances
ShareLife had total donations of $16.8m in F2022. Administrative costs are 4% of revenues (less investment income), and fundraising costs are 6% of donations. This results in total overhead spending of 10%. For every dollar donated, 90 cents go to the cause, which is within Ci’s reasonable range for overhead spending.
ShareLife has $14.8m in reserve funds, of which $8.5m is donor endowed. Reserve funds are the charity’s cash and investments. Excluding donor-endowed funds, the charity could cover 61% or seven months of its annual program costs with reserves.
This charity report is an update that has been sent to ShareLife for review. Changes and edits may be forthcoming.
Updated on July 5, 2023 by Alessandra Castino.
Financial Review
Fiscal year ending December
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Administrative costs as % of revenues | 4.1% | 4.1% | 4.8% |
| Fundraising costs as % of donations | 5.5% | 4.9% | 8.2% |
| Total overhead spending | 9.6% | 9.0% | 12.9% |
| Program cost coverage (%) | 61.1% | 55.5% | 39.6% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 16,797 | 21,970 | 12,674 |
| Government funding | 18 | 117 | 66 |
| Investment income | (928) | 2,223 | 493 |
| Total revenues | 15,887 | 24,310 | 13,233 |
| Grants | 14,892 | 18,209 | 11,715 |
| Administrative costs | 692 | 910 | 607 |
| Fundraising costs | 916 | 1,083 | 1,036 |
| Total spending | 16,501 | 20,202 | 13,358 |
| Cash flow from operations | (614) | 4,108 | (125) |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 14,761 | 16,352 | 12,106 |
Note: In F2021, ShareLife changed its fiscal year end from July to December. The available data for F2021 represents a 17-month period from August 1, 2020 to December 31, 2021. As a result, F2021 figures are not comparable. Ci adjusted for change in grants payable, increasing expenses by ($230k) in F2022, $5.2m in F2021, and $207k in F2020. Ci included unrealized gains (losses) on investments, affecting revenues by ($1.2m) in F2022, $2.0m in F2021, and $323k in F2020.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
2 |
$80k - $120k |
0 |
$40k - $80k |
8 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2021
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Comments & Contact
Comments added by the Charity:
Charity Contact
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