Tides Canada

400-163 W Hastings St.
Vancouver, BC V6B 1H5
President & CEO: Ross McMillan
Board Chair: Jodi White

Website: www.tidescanada.org
Charitable Reg. #: 86894 7797 RR0001
Sector: Environment
Public Foundation

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 #60

Avg. Compensation $70,553

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 1
$200k - $250k 1
$160k - $200k 3
$120k - $160k 0
$80k - $120k 5
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Tides Canada:

Founded in 2000, Tides Canada's mission is to provide uncommon solutions for the common good by helping Canadians secure a healthy environment in ways that promote social equity and economic prosperity. The charity has over 200 funds, with the donations in each individual fund directed for specific purposes.

Tides Canada focuses on seven core issue areas: Resilient Communities (36% of F2015 grants), Sustainable Food Systems (12%), Protected Land and Forests (8%), Healthy Oceans (8%), Healthy Watersheds (8%), Clean Energy and Climate Solutions (4%) and Sustainable Livelihoods (2%), along with grants made by donor-advised funds (22% of total grants).

Tides Canada was the Canadian fundraising lead in the Great Bear Rainforest Agreement, one of the most significant conservation programs in North American history. Tides Canada continues to work with the BC government, First Nations and industry towards healthy ecosystems, economies and communities in the Great Bear Rainforest.

Financial Review:

Financial analysis of Tides Canada comes from the consolidated financial statements of Tides Canada Foundation and Tides Canada Initiatives Society. Tides Canada is a Major 100 charity, with donations of $33.5m in F2015. Its donations are 88% higher than in F2014. Despite the significant increase in donations, the charity's grants decreased by 30% in F2015. The charity does not report its administrative and fundraising costs separately in its audited financial statements. Its total overhead costs make up 13% of revenues. For every $1 donated to the charity, 87 cents is put towards its programs, falling within Ci's reasonable range. The charity's funding reserves of $56.3m result in a program cost coverage ratio of 325%. This means that the charity can cover 3.3 years of its annual programs using its existing reserves.

Tides Canada reports that it has reclassified its Endowment Fund to its General Fund and Externally Restricted Fund. This is due to changes made to Endowment Fund agreements that allow the charity to access the fund principal with no time-based restrictions.

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

Updated on August 4, 2016 by Lynn Tay.

Financial Ratios

Fiscal year ending December
Fundraising & admin costs as % of revenues 13.4%24.3%15.7%
Program cost coverage (%) 325.2%157.3%175.7%

Summary Financial Statements

All figures in $000s
Donations 33,50717,84228,567
Investment income 3,4314,6174,010
Other income 3,6623,7703,798
Total revenues 40,60126,22936,375
Grants 17,30324,79823,563
Fundraising & administrative costs 4,9895,2455,093
Cash flow from operations 18,308(3,814)7,719
Funding reserves 56,27339,01741,406
Note: Ci has adjusted amortization of deferred capital contributions affecting revenues by ($92k) in F2015, by ($92k) in F2014, and by ($92k) in F2013. Ci has adjusted amortization affecting expenses by ($326k) in F2015, by ($303k) in F2014, and by ($398k) in F2013.

Comments added by the Charity:

Transparency of information is a vital part of modern day charity. However, we believe that a one-size-fits-all model of evaluation based on financial results does not measure charities’ effectiveness or need for donations accurately. For example, Tides Canada Foundation receives funding to be allocated over the long term, designated for programmatic work to be conducted over multiple years. Charity Intelligence constructs a snapshot of a single fiscal year, resulting in a skewed view of revenues and programmatic expenditures that does not reflect the longer-term nature of our work. 

In addition, we have concerns over the oversight and accuracy of the financial information presented as we found significant errors in the financial calculations that Charity Intelligence originally posted. These have now been corrected in the current posting.

We do appreciate that Charity Intelligence includes comments from charities on their profiles, and that they seem committed to an increased focus on impact assessment.

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