Loran Scholars Foundation
Toronto, ON M5V 1Y1
Executive Director: Franca Gucciardi
Board Chair: Patrick Cronin
Charitable Reg. #: 85513 2643 RR0001
Grade: A-The grade is based on the charity's public reporting of the work it does and the results it achieves.
Need for Funding
Full-time staff #9
Avg. Compensation $58,511
Top 10 Staff Salary Range
|$300k - $350k||0|
|$250k - $300k||0|
|$200k - $250k||0|
|$160k - $200k||1|
|$120k - $160k||0|
|$80k - $120k||0|
|$40k - $80k||8|
About Loran Scholars Foundation:
Founded in 1988 as the Canadian Merit Scholarship Foundation, the Loran Scholars Foundation (LSF) was the first national organization in Canada to grant scholarships based on a mix of academic achievement, extracurricular activity and leadership potential. The charity name was changed in 2014 to reinforce its focus on identifying and developing leaders of character.
Each year, LSF identifies and supports 30 exceptional young Canadians who demonstrate character, service and leadership. Each Loran Scholar receives a renewable undergraduate award valued at up to $100,000 over four years. The Loran Award includes an annual stipend, a matching tuition waiver from one of 25 partner universities, mentorship, a summer program, an orientation expedition and access to an extended network of scholars, alumni and supporters. It also offers up to 80 one-time finalist awards ($3,000) and provincial awards ($2,000) annually.
Since 1990, LSF has invested in 541 Loran Scholars and granted finalist and provincial awards to approximately 2,000 additional students. 15 Loran Scholars have become Rhodes Scholars, over 80% of alumni pursue graduate studies, many start their own businesses, and alumni have donated over $1m back to support future Loran Scholars.
Donations (including endowments not reflected on the charity's income statement) of $3.8m represent 93% of total revenue. Administrative costs are 5% of revenue and fundraising costs are 2% of donations. Funding reserves of $9.6m (including donor-endowed funds of $3.0m) cover annual grants and program costs 4.2 times, or 3.1 times excluding donor-endowed funds.
Financial RatiosFiscal year ending April
|Administrative costs as % of revenues||5.3%||7.3%||4.8%|
|Fundraising costs as % of donations||1.9%||1.9%||1.6%|
|Program cost coverage (%)||416.2%||272.8%||248.4%|
Summary Financial StatementsAll figures in $s
|Cash flow from operations||1,482,583||833,421||1,377,325|