Farley Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔
FINANCIAL TRANSPARENCY
Most recent Audited financial statements available on the charity’s website.
C-
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.
94%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 94 cents are available for programs.
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OVERVIEW
About Farley Foundation:
Farley Foundation is a 2-star charity. It has a below-average results reporting grade and is not fully financially transparent. Farley Foundation does not have any paid staff and spends little on overhead costs.
Established in 2002 by the Ontario Veterinary Medical Association (OVMA), the Farley Foundation subsidizes payments for Ontario pet owners who cannot cover essential veterinary costs for their sick and injured pets. Since 2002, more than 12,200 pets have been helped. This includes 7,190 dogs, 4,890 cats, 51 birds, 37 rabbits, and 23 rats.
Farley Foundation covers surgery, hospitalization, diagnostics, and other essential treatments. Pet owners seeking aid must be unable to afford medical care for the sick or injured pet and must fall into at least one of the following categories: 1) seniors receiving the federal GIS; 2) disabled individuals receiving the ODSP or CPP Disability Payment; 3) individuals receiving assistance through Ontario Works; 4) people earning less than $25,000/year; 5) people receiving the CERB; 6) long-term care facilities with live-in pets; 7) women at risk of abuse who are entering a registered Ontario women’s shelter and who are participating in the OVMA SafePet Program.
In F2021, Farley Foundation paid $535k in subsidies towards the veterinary bills of pet owners, which is a 4% increase from F2020. Farley Foundation discloses the total number of pets and pet owners it helps, but it does not disclose the procedures the pets undergo.
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Results and Impact
In F2021, Farley Foundation paid for veterinary care for 1,040 pets, including 602 dogs, 419 cats, 6 birds, and 4 rabbits. During the year, the charity assisted 640 Ontario Disability Support Program recipients and 103 Ontario Works recipients.
In addition to saving the lives of the animals, Farley Foundation states that sharing life with an animal has a positive impact on personal health and well-being. Farley Foundation highlights multiple testimonials on its website from people who are grateful for the services Farley Foundation provided and the impact it had on their lives and those of their pets.
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Finances
Farley Foundation received total revenues of $1.3m in F2021. Administrative costs are 4% of total revenues (excluding investment income) and fundraising costs are 2% of total donations. This means Farley Foundation spends 6% on overhead. For every dollar donated, 94 cents go to the cause. This is within Ci’s reasonable range for overhead spending. Farley Foundation attributes its low overhead costs to its shared board of directors with OVMA, decreasing staffing costs.
Farley Foundation has total funding reserves of $2.0m. The foundation could cover three years and 4 months of program spending at the F2021 level.
The charity reports no paid staff in its most recent Charities Directorate T3010 filing.
This charity report is an update that has been sent to Farley Foundation for review. Comments and edits may be forthcoming.
Updated June 2, 2022 by Lin Zhu.
Financial Review
Fiscal year ending August
|
2021 | 2020 | 2019 |
|---|---|---|---|
| Administrative costs as % of revenues | 3.6% | 6.0% | 7.2% |
| Fundraising costs as % of donations | 2.3% | 10.1% | 10.5% |
| Total overhead spending | 5.9% | 16.1% | 17.7% |
| Program cost coverage (%) | 332.7% | 258.6% | 240.7% |
Summary Financial StatementsAll figures in $s |
2021 | 2020 | 2019 |
|---|---|---|---|
| Donations | 1,245,583 | 847,684 | 644,362 |
| Special events | 0 | 0 | 21,746 |
| Investment income | 28,310 | 24,553 | 24,726 |
| Other income | 140 | 818 | 448 |
| Total revenues | 1,274,033 | 873,055 | 691,282 |
| Program costs | 597,790 | 525,995 | 476,654 |
| Administrative costs | 44,613 | 51,074 | 47,875 |
| Fundraising costs | 29,164 | 85,488 | 69,725 |
| Other costs | 3,935 | 1,287 | 1,018 |
| Total spending | 675,502 | 663,844 | 595,272 |
| Cash flow from operations | 598,531 | 209,211 | 96,010 |
| Funding reserves | 1,988,715 | 1,360,087 | 1,147,527 |
Note: Ci categorized postage, website, travel, and insurance expenses under program expenses. Ci considered office expenses, professional fees, and board and committee expenses as administrative costs.
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 F2021
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Comments & Contact
Comments added by the Charity:
Charity Contact
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