David Foster Foundation

212 Henry Street
Victoria, BC V9A 3H9
CEO: Mike Ravenhill
Board Chair: David Foster

Website: www.davidfosterfoundation.com
Charitable Reg. #: 10700 4210 RR0001
Sector: Health
Operating Charity

Donor Accountability

Grade: C+

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 through official request for information from Canada Revenue Agency [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

95¢
75¢
avg
65¢
50¢
2012 2013 2015
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #4

Avg. Compensation $105,856

Top 10 Staff Salary Range

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

About David Foster Foundation:

David Foster, the celebrated Canadian 16-time Grammy Award winner, founded David Foster Foundation (DFF) in 1987. DFF’s mission is to provide financial support to Canadian families with children in need of life-saving organ transplants. It 2016 its mission widened with a new objective to increase public awareness and education about the importance of becoming a registered organ donor in Canada and the United States. The charity reports that there are currently over 4,500 Canadians waiting on a transplant waitlist.

David Foster Foundation’s programs include financial support to cover non-medical expenses for Canadian families whose children need organ transplants. These payments help families cover transportation costs, accommodations while living in another city, clothes and personal needs, or rent and mortgage assistance, so families can be near their children. Over the last 30 years, DFF reports helping over 1,000 families across Canada. The most recent holistic data Ci could find for DFF’s financial assistance program is from 2015: DFF states that 39 David Foster Foundation kids received life-saving transplants during the year. Based on reported 2015 expenses of $2.2m for assistance to families, general and administration and fundraising costs, DFF spent $56,400 per child helped in 2015. DFF was not responsible for covering the costs of these transplants, as the charity does not supply funding for medical expenses such as medications, procedures, medical caregivers or equipment. DFF did not disclose details regarding how it helped these 39 children.

David Foster Foundation also runs a public awareness program to increase awareness about the importance of becoming a registered organ donor. In its spring 2017 newsletter, DFF reports that Alberta saw a 62% increase in new registered organ donors from 2015 to 2016, while Manitoba saw a 30% increase.

Financial Review:

David Foster Foundation is a medium-sized charity with total donations of $3.3m in F2015. Administrative costs are 6% of revenues. DFF reports no fundraising costs in its F2015 T3010 CRA filing. The F2015 financial statements prepared by management also do not separately disclose fundraising costs. Ci used the charity’s T3010 CRA filing for F2015 and F2013 expense figures, as it provided a clearer breakdown of program and administrative costs.

F2015 grants of $12k represent donations of $6k to the Canadian Kidney Foundation and Canadian Transplant Association.

DFF’s funding reserves grew by 76% since 2013 to $14.0m and can cover annual program and granting costs for 5.3 years. David Foster previously stated DFF’s focus is on “creating [an] endowment and legacy fund for the Foundation so that [the Foundation is] here in perpetuity.” 

Notice to Donors: Canada Revenue Agency (the CRA) recommends that all charities with over $250k in donations undergo an annual audit to produce audited financial statements. The 2015, 2013 and 2012 financial statements are a Notice to Reader and are unaudited. The 2015 and 2013 financial statements received from the CRA under a request for information were without financial notes and prepared by management. Ci does not have F2014 data, as the F2015 statements did not report comparable F2014 figures. The financial report provided shows $1.7m loaned to David Foster Foundation USA, that is likely a related party, perhaps to support care for American children undergoing transplants. Charity Intelligence has not reviewed or consolidated the funding reserves of David Foster Foundation USA.

This charity report is an update that is currently being reviewed by David Foster Foundation. Comments and edits may be forthcoming.

Updated on June 23, 2017 by Katie Khodawandi.  

Financial Ratios

Fiscal year ending December
201520132012
Administrative costs as % of revenues 6.3%5.1%10.1%
Fundraising costs as % of donations 0.0%0.0%0.0%
Program cost coverage (%) 525.0%589.0%1,135.3%

Summary Financial Statements

All figures in $000s
201520132012
Donations 3,2801,5653,107
Special events 2,7511,0311,324
Investment income 758461212
Total revenues 6,7893,0564,643
Program costs 2,6581,336604
Grants 12120
Administrative costs 378133448
Fundraising costs 000
Cash flow from operations 3,7421,5753,591
Funding reserves 14,0167,9426,852
Note: Ci reported foreign exchange gains in investment income, affecting total revenue by $38k in F2013 and ($9k) in F2012. Ci used F2015 and F2013 expense figures reported in the charity’s T3010 CRA filings.

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