Furniture Bank is a 4-star charity with Average demonstrated impact. It is financially transparent and has an A+ results reporting grade. Its overhead spending is outside of Ci’s reasonable range, and with its current reserves the charity can cover over 5 months of annual program costs. 

Founded in 1998, Furniture Bank is a registered charity and social enterprise that distributes gently-used donated furniture to families in need. It aims to provide the comfort, dignity, and stability of a furnished home. Furniture Bank works with economically-vulnerable people, such as families leaving shelters, formerly homeless clients, and newcomers or refugees living in Canada. By collecting and delivering used furniture, the charity states that it redirects waste from landfills while providing furnished homes.   

Furniture Bank runs three main programs: Homing furniture collection and delivery program, Leg Up social employment program, and its Workshop. 

Furniture Bank's Homing (75% of program spending) program involves distributing used furniture to clients. In 2023, the charity delivered 61,210 different items to families. Working with 160 community agency partners and shelters, Furniture Bank reached 6,351 clients during the year. The charity furnished 2,650 units in Toronto and 3,463 in Ottawa.  

Furniture Bank's Leg Up (21% of program spending) social employment program partners with local employment agencies to provide work experience, life and skills training, and meaningful work for those facing barriers to employment. The Leg Up program employed 41 people in 2023. 

Furniture Bank also has the Workshop program (3% of program spending) and support services (1%). The Indigenous-led workshop trains participants in furniture repair, upholstery, and woodworking to combat barriers to work. In 2023 the Workshop repaired 2,440 items. 

Furniture Bank had total cash donations of $1.1m in F2023. It also received $4.8m in donated household furnishings (47% of revenues),$2.2m in government funding (21% of revenues), $2.1m in fees for service (20% of revenues).

Furniture Bank's administrative costs are 8% of revenues (less investment income), and its fundraising costs are 33% of cash donations. This results in total overhead spending of 40%. For every dollar donated to the charity, 60 cents are available for programs. This is outside Ci’s reasonable range for overhead spending. 

In F2023, Furniture Bank spent $4.0m on its programs, which is 72% of its total revenues (excluding donated goods). The charity had a surplus of $385k which is 4% of revenues. 

Furniture Bank has $1.7m in reserve funds (cash and investments). Excluding the cost of donated furniture, Furniture Bank's reserves can cover 44% or over five months of its annual program costs.  

This charity report is an update that has been sent to Furniture Bank for review. Changes and edits may be forthcoming.  

Updated on June 24, 2024 by Alessandra Castino