Loran Scholars Foundation
Toronto, ON M5V 1Y1
CEO: Meghan Moore
Board Chair: Jamie Anderson
Charitable Reg. #: 85513 2643 RR0001
Grade: BThe grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Cents to the Cause
Full-time staff #8
Avg. Compensation $85,844
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||1|
|$120k - $160k||0|
|$80k - $120k||2|
|$40k - $80k||5|
About Loran Scholars Foundation :
Founded in 1988 as the Canadian Merit Scholarship Foundation, Loran Scholars Foundation (LSF) offers Canada’s largest four-year award. LSF partners with universities, donors, and volunteers across Canada to give out awards up to $100,000 in value. LSF supports undergraduate students in the hope of helping them become Canada’s future leaders.
The Loran Scholarship is a merit-based scholarship given to students who show promise of leadership and other talents that will make their communities a better place both during and after their time at university. In F2018, LSF selected 34 people to become a Loran Scholar. The Loran Scholarship includes: up to $10,000 annually to pay for tuition, a matching tuition waiver from one of 25 partnered universities, mentorship, summer internship opportunities, access to a network of current and former Loran Scholars, and a summer orientation experience. It also gave out 54 grants valued at $5000 to people who applied and were not selected as well as 50 provincial awards valued at $2000.
Every Loran Scholar is paired with a Canadian leader for a four-year mentorship relationship. During the summer, Loran Scholars are encouraged to gain meaningful work experience. To help this process, Loran Scholars are given access to their network of alumni as well as up to $10,000 in funding for internship opportunities. These internships can be done anywhere in the world providing they are focused on the enterprise, public policy, or community development.
Financial Review: Loran Scholars Foundation is a medium-sized charity with $ 3.2m in donations in F2018. LSF’s fundraising and administrative costs are 11% of revenues (excluding investment income). For every dollar donated, 89 cents goes to the cause. This is within Ci’s reasonable range for overhead expenditures. LSF has $16m in funding reserves of which $3.6m are donor endowed. Excluding the endowed funds, funding reserves can cover program costs for five and a half years.
This charity report is an update that has been sent to Loran Scholars Foundation for review. Comments and edits may be forthcoming.
Updated May 28, 2019 by Stefan Tetzlaff.
Financial RatiosFiscal year ending April
|Fundraising & admin costs as % of revenues||10.6%||6.5%||8.7%|
|Program cost coverage (%)||663.9%||649.0%||532.1%|
Summary Financial StatementsAll figures in $s
|Fundraising & administrative costs||348,293||335,471||293,131|
|Cash flow from operations||652,833||3,564,355||1,034,655|