Fondation 24H Tremblant
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✖
FINANCIAL TRANSPARENCY
Audited financial statements available only through official request for information from Charities Directorate.
D
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.
61%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 61 cents are available for programs.
My anchor
OVERVIEW
About Fondation 24H Tremblant:
Fondation 24H Tremblant is a 1-star charity that is not financially transparent. The charity has a D Results Reporting grade, which is well below average. For every dollar donated to the charity, 61 cents are available to go to the cause, which is outside Ci's reasonable range. Read Ci's report before donating.
Founded in 2001, Fondation 24H Tremblant (F24HT) organizes a large-scale sporting event in the Mont-Tremblant region of Québec. Fondation 24H Tremblant raises funds for other fundraising charities that support sick and underprivileged children. The foundation funds children's medical research, health care, and social aid.
The main event is an annual 24-hour ski, walk, or run relay competition at Mont-Tremblant. Registered teams compete while raising funds. Each participant needs to raise at least $300 to join the relay.
F24HT does not have an annual report, nor is it financially transparent.
In F2022, Fondation 24H Tremblant spent $2.3m on its grants. $1.3m (56%) went to Fondation Charles-Bruneau, $539k (23%) went to Fondation CHEO, and $466k (20%) went to Fondation Tremblant. Historically, F24HT has also funded Fondation CHU Sainte-Justine and the Montreal Children’s Hospital Foundation.
F24HT helps fund CHEO researchers, which published over 535 new findings. The charity states that CHEO reaches over 500,000 children and families every year.
My anchor
Results and Impact
Charity Intelligence did not find any quantified outcomes reported on Fondation 24H Tremblant's website. This charity is not yet rated on impact (n/r).
My anchor
Finances
Fondation 24H Tremblant is not financially transparent. Ci received the charity’s audited financial statements from the CRA. The most recent financial information is from 2022.
Fondation 24H Tremblant received $4.5m in donations in F2022. The charity spent $2.3m on its grants, which is 44% of revenue. F24HT recorded a surplus of $788k, which is 15% of revenue.
Administrative costs are 3% of revenue (excluding investment income). Fundraising costs are 37% of donations. For every dollar donated to the charity, 61 cents are available to go to the cause, which is outside Ci’s reasonable range. Ci’s reasonable range is between 65 and 95 cents.
F24HT has $1.3m in reserve funds (cash and investments). The charity’s reserves can cover 56% or seven months of its annual program costs.
The charity does not report any full-time or part-time employees on its T3010 filing with the CRA.
This charity report is an update that has been sent to Fondation 24H Tremblant for review. Changes and edits may be forthcoming.
Updated on August 9, 2024 by Liam Chapleau.
Financial Review
Fiscal year ending June
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 2.8% | 2.9% | 2.8% |
Fundraising costs as % of donations | 36.7% | 34.5% | 32.2% |
Total overhead spending | 39.5% | 37.4% | 35.0% |
Program cost coverage (%) | 55.9% | 26.7% | 37.8% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 4,218 | 2,428 | 4,835 |
Goods in kind | 299 | 57 | 362 |
Business activities (net) | 303 | 61 | 423 |
Special events | 250 | 359 | 478 |
Investment income | 29 | 0 | 25 |
Other income | 63 | (43) | (43) |
Total revenues | 5,162 | 2,861 | 6,080 |
Grants | 2,292 | 2,276 | 2,875 |
Donated goods exp | 299 | 57 | 362 |
Administrative costs | 143 | 82 | 168 |
Fundraising costs | 1,640 | 962 | 1,712 |
Total spending | 4,374 | 3,377 | 5,117 |
Cash flow from operations | 788 | (516) | 963 |
Capital spending | 0 | 0 | 0 |
Funding reserves | 1,281 | 607 | 1,087 |
Note: DEFERRED REVENUE: Ci adjusted for deferred donations and revenue, affecting total revenue by $132k in F2022, ($38k) in F2021, and ($113k) in F2020. DONATED GOODS IN KIND: Ci removed donated goods in kind from special event fundraising. This amount was also removed from fundraising costs and put into donated goods used in programs. Donated goods were $299k in F2022, $57k in F2021, and $362k in F2020.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
0 |
$160k - $200k |
0 |
$120k - $160k |
0 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
My anchor
Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it.
In December 20, 2017, La Presse and CBC Radio Montreal raise attention about Fondation 24H Tremblant fundraising costs. Fondation 24H replied that it calculates fundraising costs a different way. Fondation 24H Tremblant says that Charity Intelligence's method of calculating funding raising costs is flawed.
Fondation 24H Tremblant comments that corporate sponsors and participants clearly understand that sponsorship and registration fees are used solely to cover the costs of the event, and do not support helping children. In its audited financial statements, Fondation 24H Tremblant reports sponsorship and registration fees. These are reported as "special events" revenues. It is important that sponsors and participants are informed, and the fees and costs are transparent.
Fundraising charities commonly hold events, like walks and runs. To provide donors with consistent information, Charity Intelligence uses the CRA Charities Directorate formula for calculating fundraising costs.
Canada’s Charity Directorate gives charities clear instructions on how to report fundraising costs:
“the fundraising ratio is a global calculation for a fiscal period, determined by dividing fundraising expenditures by fundraising revenue”.
Fundraising costs should only be calculated on fundraising revenues and should exclude other sources of revenue like government funding, investment income, and business profits.
Using the charity’s annual return, the T3010, the Charities Directorate instructs charities to calculate fundraising cost ratios by “Divid[ing] the total fundraising expenditure amount on Line 5020 (fundraising expenses) by the sum of lines 4500 (receipted donations) and Line 4630 (fundraising revenue not reported in 4500).”
Source: Note 83. Canada Revenue Agency Charities Directorate “Fundraising by registered charities” CG-013, April 20, 2012 http://www.cra-arc.gc.ca/chrts-gvng/chrts/plcy/cgd/fndrsng-eng.html#N10374