Loran Scholars Foundation is a 3-star rated charity with fair demonstrated impact, best practices in financial transparency and above average accountability to donors as seen in the B+ results reporting grade. However, it has large reserve funds that can cover over five years of program costs. 

Founded in 1988 as the Canadian Merit Scholarship Foundation, Loran Scholars Foundation (LSF) offers Canada’s largest four-year scholarship 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 F2022, LSF selected 36 people to become Loran Scholars. 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. In F2022, LSF also gave 60 provincial awards and 50 awards for Loran Scholarship finalists.

Every Loran Scholar is paired with a Canadian leader for a four-year mentorship relationship. In F2022, 141 mentors provided 1,112 mentorship hours.

During the summer, Loran Scholars are encouraged to gain meaningful work experience. To help this process, Loran Scholars are given access to the charity's network of alumni as well as up to $14,000 in funding for internship opportunities. These internships can be done anywhere in the world, providing they are focused on enterprise, public policy, or community development. In F2022, 83 scholars secured work opportunities. 

Loran Scholars Foundation reported $4.7m in donations in F2022. LSF’s fundraising and administrative costs are 12% of revenues (excluding investment income). For every dollar donated, 88 cents go to the cause. This is within Ci’s reasonable range for overhead spending.

LSF has $22.5m in reserve funds, of which $5.2m is donor endowed. Excluding endowed funds, reserve funds can cover program costs for 5 years and 8 months.

In F2022, LSF granted $222k to qualified donees. Its three largest grant recipients were BC Society of Transition houses ($21k), Canada West Foundation ($14k) and Willing Hearts International Society of Canada ($14k). LSF does not provide information on these grants.

This charity report is an update that has been sent to Loran Scholars Foundation for review. Comments and edits may be forthcoming.

Updated August 28, 2023 by Emily Downing.