Canada Company

TD Bank Tower, 66 Wellington St. W
Toronto, ON M5K 1K2
Acting Executive Director: Paul Hindo
Founder & Chair: Blake Goldring

Charitable Reg. #: 83851 6094 RR0001
Sector: Veterans
Operating Charity

Donor Accountability

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 ]

Need for Funding

Funding Reserves Program Costs

Spending Breakdown

Cents to The Cause

2015 2016 2017
For a dollar donated, cents funding the cause after fundraising and admin costs, excluding surplus.

Full-time staff #12

Avg. Compensation $42,129

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 0
$80k - $120k 2
$40k - $80k 2
< $40k 6
Information from most recent CRA Charities Directorate filings for F2017

About Canada Company:

Founded in 2006 by Honourary Colonel Blake Goldring, Canada Company shows support for Canadian troops for the sacrifices they make every day. It has three objectives: celebrating our heroes, building a better Canada, and educating our nation. Canada Company continues to build on its reputation among the business community as a growing outreach between Canadian Armed Forces and businesses in Canada. The charity’s office is in Toronto.

In Canada Company’s 2016 annual report, which is the most recent report published at the time of the profile update, it announced a new partnership with Employment and Social Development Canada (ESDC) to invest $1.1 million in the digital transformation of the charity’s Military Employment Transition (MET) program. This platform was designed to provide support to military members and veterans to help get civilian jobs. The digital platform was active for only a few months before it was discontinued. In December 2017, the government decided to provide this service directly to veterans itself[1]. As of April 1, 2018, Veterans Affairs Canada will provide all military employment services.

Canada Company has since decided to “return to their roots of providing monuments, scholarships and golf tournaments.” The charity has reduced its full-time staff from 12 employees in F2017 to 3 in F2018.

The charity’s Light Armoured Vehicle (LAV) III Monument Program recognizes the service and sacrifice of the 40,000 Canadian Armed Forces who served and 162 Canadians that died in Afghanistan. The program provides full-size replica tanks to qualifying communities throughout Canada. Monuments are created from decommissioned vehicles donated by the Government of Canada. Each monument includes a commemorative plaque and is reported to cost $17,500. Installation costs of $10,000 per unit and transportation of the monument is the community’s responsibility. There are currently 20 monuments in place across Canada[2]. By the end of 2018, 33 monuments are expected to be installed[3].

In 2007, Canada Company established the Canada Company Scholarship Fund to provide financial assistance towards the post-secondary education of children of Canadian soldiers who have been killed since January 1, 2002. In 2016, the charity announced that children of serving military members who have taken their own lives, as deemed attributable to their military service, would be eligible for a scholarship. Qualified students can receive up to $4,000 per year for up to four years. The Scholarship Fund currently holds $3.2 million while only $113k was withdrawn in F2017. The charity reports 14 children received scholarships in 2017, down from 16 in 2016. Of the $113k withdrawn from the fund, only about $50k was distributed to students. The remaining estimated $63k was spent on its Annual Scholarship Ceremony that takes place in Toronto.

Canada Company’s Strategic Knowledge Exchange program holds an annual event that brings together senior military leaders, defence specialists, and business leaders. This forum is held to promote issues-focused and cross-sector discussions of current and future strategic approaches to matters of importance to the Canadian Armed Forces. The charity reports that 50 Canadian business and military leaders attended the event in 2017.

After spending 30 years in the Commercial Real Estate sector, Paul Hindo was named Interim Executive Director of Canada Company in March 2018. In November 2017, the Minister of National Defence appointed Mr. Hindo as the next Honorary Colonel of the Canadian Army[4].

Financial Review:

Canada Company is a medium-sized charity with donations of $1.8m in F2017, a 27% decrease compared to F2016. The charity also received $1.1m in government funding in F2017, $958k more than it received in the previous year. Charity Intelligence reports Canada Company’s marketing costs from its audited financial statements as fundraising costs in the following financial analysis, but the charity reports spending $0 on fundraising activities in F2017 on its T3010 CRA filing. Administrative costs are 28% of total revenues and fundraising costs are 5% of donations. Per dollar donated to the charity, $0.67 goes towards its programs and grants, which falls within Ci’s reasonable range for overhead spending. Canada Company has funding reserves of $4.3m, including $3.2m in scholarship funds that are held by a separate private foundation and kept off the charity’s balance sheet. Excluding the scholarship fund, Canada Company’s funding reserves can cover annual program and grant costs for less than 8 months, indicating a need for donations.

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

Updated on August 23, 2018 by Derek Houlberg.

Financial Ratios

Fiscal year ending December
Administrative costs as % of revenues 28.1%19.9%15.8%
Fundraising costs as % of donations 4.8%7.0%9.6%
Program cost coverage (%) 227.0%197.1%211.1%

Summary Financial Statements

All figures in $s
Donations 1,813,6862,473,9202,079,234
Government funding 1,115,755157,5080
Fees for service 56,00091,80070,750
Total revenues 2,985,4412,723,2282,149,984
Program costs 1,690,3351,556,6541,421,772
Grants 218,465486,178133,892
Administrative costs 838,342541,583338,817
Fundraising costs 87,042172,807200,288
Cash flow from operations 151,257(33,994)55,215
Funding reserves 4,333,6004,027,0803,284,507
Note: Ci included management fees, office and general expenses, and professional fees in the charity's administrative costs. Ci included marketing expenses in the charity's fundraising costs. Ci included the Canada Company Scholarship Fund, which is held by the Toronto Community Foundation and not reported on the charity's balance sheet, as endowed funds within Canada Company's funding reserves. 
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