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

Social Results Reporting

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 ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #4

Avg. Compensation $62,443

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 1
$40k - $80k 2
< $40k 1
Information from most recent CRA Charities Directorate filings for F2013

About David Foster Foundation :

Founded in 1987, David Foster Foundation (DFF) is the foundation of David Foster, the celebrated Canadian 16-time Grammy Award winner. DFF provides financial support for non-medical expenses to Canadian families whose children need life-saving organ transplants. These payments help families cover transportation costs, accommodations while living in another city, clothes and personal needs, even rent and mortgage assistance, so families can be near their children. Over the last 27 years, DFF has helped close to 1,000 families. DFF has national reach and helps families across Canada.

In 2011, 126 children in Canada received organ transplants: 51 kidney transplants, 40 liver transplants, 27 heart transplants and 8 bi-lateral lung transplants. In 2011, 80 children were waiting for organ transplants. This represents 2% of the 4,660 Canadians waiting for organ transplants as organ transplants typically occur with adults and the elderly.

In 2013, DFF provided $516,369 in financial support to families (a 3% decrease from 2012) and donated $6,000 to both The Canadian Kidney Foundation and Canadian Transplant Association. DFF is undertaking a new initiative to advocate and encourage organ donations in Canada.

Financial Review:

In 2013, DFF received $3.0m from donations, concert fundraisers and investment income. 2013 revenues dropped 34% compared with $4.6m raised in 2012. As such, administrative costs represented 27% of total revenues compared with 10% in 2012. Funding reserves of $7.9m cover annual program spending 10 times. The audited financial statements do not break out fundraising costs. Fundraising events are presented net of costs rather than on a gross basis.

The 2013 and 2012 financial statements are a Notice to Reader and are unaudited. The 2013 financial statements received from the Charities Directorate under a request for information were incomplete without financial notes. The financial statements show transfers and cost sharing with The David Foster Foundation. There is a David Foster Foundation in the US that may be a related party.

Updated May 29, 2015 by Kate Bahen and Yash Ahuja.

Financial Ratios

Fiscal year ending December
201320122011
Administrative costs as % of revenues 26.8%10.1%48.6%
Fundraising costs as % of donations 0.0%0.0%0.0%
Program cost coverage (%) 1,010.9%1,135.3%695.7%

Summary Financial Statements

All figures in $s
201320122011
Donations 1,564,7403,107,333610,613
Special events 993,1641,333,226114,011
Investment income 460,817211,554212,265
Total revenues 3,018,7214,652,113936,889
Program costs 785,685603,558776,116
Administrative costs 695,589448,266376,817
Fundraising costs 000
Cash flow from operations 1,537,4473,600,289(216,045)
Funding reserves 7,942,1256,851,9355,399,714
Note: Foreign exchange gains are incorporated into revenues.

Comments added by the Charity:

This document is under review by the charity. Comments may be added shortly.

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