Farley Foundation

420 Bronte Street South, Suite 205
Milton, ON L9T 0H9
Executive Director: Doug Raven
Board President: Christine Neziol

Website: www.farleyfoundation.org
Charitable Reg. #: 88752 2316 RR0001
Sector: Animal Welfare
Operating Charity

Social Results Reporting

Grade: B-

The grade is based on the charity's public reporting of the work it does and the results it achieves.

Financial Transparency

Audited financial statements for current and previous years available on the charity's website [ Audited financial statement for most recent year ]

Program Cost Coverage

Funding Reserves Program Costs

Spending Breakdown

Full-time staff #1

Avg. Compensation $41,734

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 1
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

About Farley Foundation:

Established in 2001 by the Ontario Veterinary Medical Association, the Farley Foundation helps Ontario's neediest pet owners who cannot cover essential veterinary costs for their sick and injured pets. Pet owners do not directly contact the Farley Foundation to receive funding – rather, the pet's veterinarian acts on the owner's behalf. The Farley Foundation covers the cost of veterinary care needed by sick or injured animals, up to $1,000 per pet.

All pet owners who receive funding from the Farley Foundation must satisfy the following two criteria: they must not be able to afford their pet's required veterinary care independently and they must be a client of an eligible Ontario veterinary hospital. The Foundation has two major types of clients: individual pet owners and care facilities.

The Farley Foundation helps four groups of Ontario pet owners: low-income seniors receiving financial aid from the government, disabled people receiving financial aid from the government, people participating in Ontario Works, and women participating in OVMA's SafePet program. Ontario Works is for people requiring financial aid. SafePet finds temporary housing and veterinary care for the pets of women staying at Violence Against Women shelters.

The Farley Foundation helps three types of care facilities in Ontario: retirement homes, supportive housing for seniors who do not yet need the level of help that retirement homes provide, and long-term care homes for people who require 24-hour care.

The Farley Foundation currently funds only Ontario pet owners, although it has received requests to help pet owners in other parts of Canada. The Foundation has not pursued such an expansion due to financial risk.

The Farley Foundation claims that since its establishment, total funding of more than $2.9m has resulted in veterinary care for 6,637 pets, including 3,889 dogs and 2,667 cats. The charity does not break out its output activity for the most recent F2015 period. The charity's website also does not give details regarding the common surgeries or other procedures that its funding activities usually help with.

Financial Review:

Farley Foundation is a small-cap charity with total donations and special events revenues of $624k in F2015. Administrative costs are 12% of revenues and fundraising costs are 16% of donations. $0.28 of every donated dollar goes toward overhead costs, which falls within Ci's reasonable range for overhead spending.

The Ontario Veterinary Medical Association (OVMA) covers most of the Foundation's administrative and fundraising costs so that the majority of donations go towards subsidizing veterinary costs for people who need financial aid. The Foundation claims that 100% of tax-receipted donations go towards helping pet owners and pets in need of medical care.

Farley Foundation holds funding reserves of $721k, which can cover annual program costs for 1.8 years.

F2015 compensation of $41,734 represents the amount paid by Farley Foundation during the year up until April 2015, 3 months before the charity's year-end. As of April 2015, Farley Foundation no longer has any paid staff. All work is now done by OVMA employees, at OVMA's expense.

Updated on August 30, 2016 by Katie Khodawandi.

Financial Ratios

Fiscal year ending August
201520142013
Administrative costs as % of revenues 11.8%18.7%12.4%
Fundraising costs as % of donations 16.1%16.1%13.9%
Program cost coverage (%) 177.6%151.6%205.4%

Summary Financial Statements

All figures in $s
201520142013
Donations 587,906549,362512,239
Special events 36,26634,69439,125
Investment income 6,84812,3346,774
Other income 7,7999,33426,149
Total revenues 638,819605,724584,287
Program costs 406,062418,954331,967
Administrative costs 74,441110,72071,477
Fundraising costs 100,47093,88676,441
Other costs 11,9159,2799,869
Cash flow from operations 45,931(27,115)94,533
Funding reserves 721,329635,035681,717
Note: Ci included unrealized gains and losses on investments, affecting investment income by ($3k) in F2015, $3k in F2014 and ($2k) in F2013. Expense breakdown for all three years of analysis are from the charity’s T3010 CRA filings. For F2015, the charity’s T3010 reported program, administrative, fundraising and other costs exceeded total expenses reported in the financial statements by $19k. Ci backed this amount out of administrative costs.

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