Farley Foundation

420 Bronte Street South, Suite 205
Milton, ON L9T 0H9
Executive Director: Doug Raven
Board President: Dr. Matthew Richardson

Charitable Reg. #:88752 2316 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

[Charity Rating: 3/5]

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.

75%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 75 cents are available for programs.



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OVERVIEW

About Farley Foundation:

Farley Foundation is a 3-star charity. It has a results reporting grade of C+ which is below average. For every dollar donated, 75 cents are available to go towards the cause. Its reserve funds can cover two years and five months of annual program costs.

Founded in 2002 by the Ontario Veterinary Medical Association (OVMA), the Farley Foundation supports pet owners that are struggling financially. The charity subsidizes payments for Ontario pet owners who cannot cover essential veterinary costs for their sick and injured pets. Since 2002, the charity has helped 15,218 animals including 8,921 dogs, 6,063 cats 69 rabbits, and 64 birds. The Farley Foundation’s only program is providing veterinary care to those struggling financially. In fiscal 2023 (year ended August), Farley Foundation spent $828k on this program.

Farley Foundation covers surgery, hospitalization, diagnostics, and other essential treatments. Pet owners seeking aid must be unable to afford medical care for their pet and meet the criteria laid out by the charity. This can include being a senior receiving the federal Guaranteed Income Supplement (GIS), or being disabled and receiving the Ontario Disability Support Program (ODSP) payment. In F2023, Farley Foundation helped 136 GIS recipients and 836 ODSP recipients. In F2023, Farley Foundation paid for veterinary care for 1,450 pets including 831 dogs, 577 cats, and 22 rabbits. The charity hopes to grow to help 2,000 pets per year by F2027.

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Results and Impact

Charity Intelligence found that Farley Foundation reported many stories but no quantified outcomes on its website. This may not be a complete representation of Farley Foundation’s results and impact. This charity is not yet rated on impact (n/r).

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Finances

In F2023, Farley Foundation received $910k in donations and special events revenue. This is a 7% decrease compared to the $976k received in F2022. Administrative costs are 16% of revenues (less investment income) and fundraising costs are 9% of donations. For every dollar donated, 75 cents are available to go towards the cause. This is within Ci’s reasonable range for overhead spending. In F2023, Farley Foundation spent $828k on its program which represents 84% of total revenues.

Farley Foundation has reserve funds of $2.0m. The charity can cover two years and five months of annual program costs with its current reserves.

The charity does not report any paid staff in its most recent T3010 filing with the CRA. Farley Foundation does report professional fees of $12k in its most recent audited financial statements.

Profile updated on June 27, 2024 by Abby Stout.

Financial Review


Financial Ratios

Fiscal year ending August
202320222021
Administrative costs as % of revenues 15.7%6.7%3.6%
Fundraising costs as % of donations 9.3%4.7%2.4%
Total overhead spending 25.0%11.3%6.0%
Program cost coverage (%) 245.4%360.4%332.7%

Summary Financial Statements

All figures in $s
202320222021
Donations 684,809776,3131,163,190
Special events 225,658199,21668,653
Investment income 74,41045,01528,310
Other income 104249140
Total revenues 984,9811,020,7931,260,293
Program costs 828,351612,621597,790
Administrative costs 142,77364,85244,613
Fundraising costs 84,65945,63329,164
Other costs 1,4741,3403,935
Total spending 1,057,257724,446675,502
Cash flow from operations (72,276)296,347584,791
Capital spending 000
Funding reserves 2,032,7722,207,9261,988,715

Note: DEFERRED REVENUE: Ci adjusted for deferred revenue, affecting revenue by ($992) in F2023, $2k in F2022 and ($14k) in F2021. PROGRAM EXPENSES: Ci categorized postage, website, travel, and insurance expenses under program expenses. ADMINISTRATIVE COSTS: Ci considered office expenses, professional fees, board and committee expenses, bank charges, and strategic planning fees to be administrative costs.

Salary Information

Full-time staff: 0

Avg. compensation: $0

Top 10 staff salary range:

$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 F2023

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Comments & Contact

Comments added by the Charity:

No comments have been added by the charity.

Charity Contact

Website: www.farleyfoundation.org
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 1-888-262-9811

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Charitable Registration Number: 80340 7956 RR0001