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.
89%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 89 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. Its overhead spending is within Ci’s reasonable range. The charity has $2.2m in reserve funds which can cover over three and a half years of 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. Farley Foundation states that having an animal companion has a positive impact on personal health and well-being. Since 2002, the charity has helped over 12,000 pets and has provided over six million dollars to pet owners.
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 must meet the criteria laid out by the charity to be eligible for support. This can include being a senior receiving the federal Guaranteed Income Supplement (GIS), being disabled and receiving the Ontario Disability Support program (ODSP) payment and receiving assistance through the Ontario Works program.
In F2022, Farley Foundation paid for the veterinary care of 1,148 pets including 680 dogs, 449 cats, five rabbits, four guinea pigs, three birds, three rats, two bearded dragons, a leopard gecko and a chinchilla. The charity reports that it assisted 700 ODSP recipients, as well as 121 Ontario Works recipients and 121 pet owners earning less than $25,000 a year. It also supported 113 seniors receiving the GIS, 78 Canadian pension plan disability recipients and 15 participants in the SafePet Ontario Program, designed to help those feeing domestic violence and trafficking.
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Results and Impact
Charity Intelligence did not find any quantified outcomes on Farley Foundation' 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
Farley Foundation received $976k from donations and special events in F2022. Administrative costs are 7% of revenues (excluding investment income) and fundraising costs are 5% of donations. This means for every dollar donated, 89 cents are available for programs. 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 reserve funds of $2.2m. The charity could cover three years and seven months of annual program costs with current reserves.
The charity does not report any 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 July 14, 2023 by Victoria Allder.
Financial Review
Fiscal year ending August
|
2022 | 2021 | 2020 |
|---|---|---|---|
| Administrative costs as % of revenues | 6.7% | 3.6% | 6.4% |
| Fundraising costs as % of donations | 4.7% | 2.4% | 10.7% |
| Total overhead spending | 11.3% | 6.0% | 17.1% |
| Program cost coverage (%) | 360.4% | 332.7% | 258.6% |
Summary Financial StatementsAll figures in $s |
2022 | 2021 | 2020 |
|---|---|---|---|
| Donations | 776,313 | 1,163,190 | 430,375 |
| Special events | 199,216 | 68,653 | 365,886 |
| Investment income | 45,015 | 28,310 | 24,553 |
| Other income | 249 | 140 | 818 |
| Total revenues | 1,020,793 | 1,260,293 | 821,632 |
| Program costs | 612,621 | 597,790 | 525,995 |
| Administrative costs | 64,852 | 44,613 | 51,074 |
| Fundraising costs | 45,633 | 29,164 | 85,488 |
| Other costs | 1,340 | 3,935 | 1,287 |
| Total spending | 724,446 | 675,502 | 663,844 |
| Cash flow from operations | 296,347 | 584,791 | 157,788 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 2,207,926 | 1,988,715 | 1,360,087 |
Note: Ci adjusted for deferred revenue, affecting revenue by $2k in F2022, ($14k) in F2021 and ($51k) in F2020. 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 F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
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