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Frontier College
Literacy. Learning for Life.
Toronto, ON

Children's Book Bank

350 Berkeley Street,
Toronto, ON M5A 2X5
Executive Director: Kim Beatty
Secretary: Catherine Davis

Charitable Reg. #: 84453 2952 RR0001
Sector: Education
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 for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

2012 2013 2014
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #3

Avg. Compensation $31,246

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 0
$40k - $80k 1
< $40k 2
Information from most recent CRA Charities Directorate filings for F2014

About Children's Book Bank:

Founded in 2007, the Children’s Book Bank and Literacy Foundation (CBB) provides free books and literary support to children up to the age of twelve living in low-income communities in Toronto. These books are donated by families, publishers and retailers. CBB`s main program, the Berkeley Street Book Bank, operates in the Regent Park area like a children’s bookstore with books and story time, except that the books are free to the children. CBB seeks to put these books in the hands of children who might not otherwise have the opportunity to own books and to provide children with the necessary tools for future academic success.

Through its ‘Beyond Berkeley Street’ program, CBB works with schools and community agencies in Scarborough, Lawrence Heights, Eglinton-Humber, Crescent Town, Rexdale and Thorncliffe Park areas of Toronto to provide free books to children who cannot visit the Regent Park location. Since over 95% of the customers in the Berkeley Street store are repeat customers, this program has expanded CBB’s reach to other high-priority neighbourhoods. In 2014, it distributed over 50,000 books through this program. It also runs a ‘Stories for Students’ program in which a visiting group of children receive a story time and opportunity to take home a book of their choice.

Since 2008, CBB has given out 450,000 free books to children. In 2014, they gave out 115,000 books: 65,000 were at the Berkeley Street store, 50,000 were through outreach partnerships in the ‘Beyond Berkeley Street’ program. Charity Intelligence estimates that each child receives an average of 25 books from CBB. The cost per book for CBB is $3, so for $75, a donor can help build a child`s library and inspire the child to read.

Financial Review:

In F2014, total revenues increased to $299k, including $45k in deferred donations. Administrative costs were 17% of revenues and fundraising costs were 5% of donations. Funding reserves of $265k cover annual program costs 1.4 times.

Updated October 13, 2015.

Financial Ratios

Fiscal year ending December
Administrative costs as % of revenues 17.5%26.2%12.2%
Fundraising costs as % of donations 4.7%3.4%0.7%
Program cost coverage (%) 144.8%115.2%147.4%

Summary Financial Statements

All figures in $s
Donations 299,267226,986271,953
Special events 10,35011,2152,300
Investment income 1,2231,758705
Total revenues 310,840239,959274,958
Program costs 182,973171,635136,313
Administrative costs 54,18062,33833,533
Fundraising costs 14,5028,0341,932
Cash flow from operations 59,185(2,048)103,180
Funding reserves 264,858197,643200,943

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