Canada Company

TD Bank Tower 66 Wellington St. W
Toronto, ON M5K 1K2
President: Angela Mondou
Founder: Blake Goldring

Website: www.canadacompany.ca
Charitable Reg. #: 83851 6094 RR0001
Sector: Veterans
Operating Charity

Charity Rating

[Charity Rating: 4/4]

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

Program Cost Coverage

donor
endowed
Funding Reserves Program Costs

Spending Breakdown

Full-time staff #9

Avg. Compensation $67,561

Top 10 Staff Salary Range

$350k + 0
$300k - $350k 0
$250k - $300k 0
$200k - $250k 0
$160k - $200k 0
$120k - $160k 5
$80k - $120k 4
$40k - $80k 0
< $40k 0
Information from most recent CRA Charities Directorate filings for F2015

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. Its overall objective is "improving the quality of life for veterans". It builds on its reputation among the business community as a growing outreach between Canadian Armed Forces and corporate Canada.

Veterans are very clear: finding a quality job is one of the most important elements to making a successful transition to civilian life[1]. Each year, close to 10,000 regular and reserve personnel are released from the Canadian military[2]. Many transition smoothly, some struggle. Canada Company's primary programs engage the business community with Canadian Armed Forces. Annually Canada Company puts on the National Transition exChange job fairs that 180 veterans attended in 2015. Canada Company key program is its Military Employment Transition (MET) program that coaches resume writing, provides on-line support, and matches experience and job skills, with practice interviews to help veterans get civilian jobs. In 2016, 768 vets got jobs. In 2015, 432 veterans got jobs compared with 649 in 2014. Canada Company's goal is to help 10,000 veterans get jobs by 2023. So far, it reports helping 2,034 in 2016 in total.

Canada Company doesn't break out its cost by program so using a "total operating cost less scholarships and grants", Canada Company spent a calculated $3,426 to get each veteran a job, a 51% increase over $2,264 in 2014. Canada Company actively promotes hiring veterans with Canadian corporations and has enlisted 245 corporations as "veteran friendly employers". In 2016, Canada Company annually awarded the outstanding veteran employer to Bell Canada, Calian Ltd., General Electric, Shell Canada and United Rentals. In December 2016, GoC Ministry of Employment, Workforce Development and Labour announced $1.1 million in funding for Company Canada's MET program.[3]

In 2016, Canada Company expanded its Military Employment Transition (MET) program into Atlantic Canada. Also, in partnership with Military Family Services, launched a pilot project to included military spouses at CFB Shilo. This has subsequently been rolled out to 8 additional military bases.

Company Canada also engages business leaders in discussions with military leaders and defense specialists for briefing on current and future strategic approaches to security and defense matters. Called Strategic Knowledge Exchanges, in 2015, Canada Company held 2 round tables debriefings with 100 senior business leaders and 16 defense leaders.

Canada Company also has a LAV Monument program (LAV's are Canadian Army tanks formally known as Light Armoured Vehicles) to install decommissioned LAV III in towns across Canada to recognize the service and sacrifice of the 40,000 Canadian Armed Forces who served in Afghanistan. In 2016 the first LAV monument was installed in Fredericton, NB. Canada Company reports receiving 30 applications from other towns across Canada for such monuments. During 2015 Canada Company received and expended $82,276 relating to the LAV III monument.

Canada Company also participates in Project Hero, the veteran scholarship fund launched by Retired General Rick Hillier and Honorary Lt. Colonel Kevin Reed, that gives college and university scholarships to children of fallen soldiers. In 2015, 8 veterans' children received just under $94,750 in scholarships (about $10,000 each, after administrative granting costs). Since 2008, Canada Company has awarded 84 scholarships to 32 children amounting to $334,000 in total grants. Canada Company has a $2.5 million scholarship fund that is held separately by a private foundation that fully funds Project Hero. Canada Company discontinued funding summer camp programs for veteran children in 2014.

Financial Review:

Canada Company allocates fundraising costs and management/administrative costs only in its CRA T3010 filing. Costs are presented by title rather than by program or activity. In its government filing, Canada Company reports administrative costs of 6.4% of total revenues and fundraising costs of 9.6% of donations. For every dollar donated, Canada Company reports 84 cents goes to its programs. This is within what Charity Intelligence deems a reasonable range. Canada Company has funding reserves of $3.0 million including $2.5 million scholarship funds held at a separate private foundation off balance sheet. Excluding the scholarship fund, Canada Company has funding reserves of $412,379 that cover 37.2% of its annual program costs showing a need for funding.

Review and rating prepared by Kate Bahen January 18, 2017

Financial Ratios

Fiscal year ending December
201520142013
Administrative costs as % of revenues 6.4%41.8%15.6%
Fundraising costs as % of donations 9.6%13.9%17.4%
Program cost coverage (%) 250.3%496.5%259.1%

Summary Financial Statements

All figures in $s
201520142013
Donations 2,079,2341,364,4581,298,164
Fees for service 70,75055,25044,065
Total revenues 2,149,9841,419,7081,342,229
Program costs 1,142,953687,436865,733
Grants 94,75097,695508,590
Administrative costs 136,995592,751208,764
Fundraising costs 200,288189,112226,234
Cash flow from operations 574,998(147,286)(467,092)
Funding reserves 3,098,2763,898,3513,560,157

Comments added by the Charity:

 

 

 

Sources and References:

1. Veterans Affairs Canada Question 10 accessed January 17, 2017 http://www.veterans.gc.ca/eng/services/information-for/caf/faq

2. Government of Canada "New resources to help skilled Veterans build meaningful new careers" November 15, 2016 Ottawa, Ontario http://news.gc.ca/web/article-en.do?nid=1154019

3. Peter Mallett, “Veteran employment program receive $1.1 million in funding” , CFB Esquimalt, Navy News Online http://www.lookoutnewspaper.com/veteran-employment-program-receives-1-1-million-funding/

 Gloria Galloway, "Veterans Affairs Canada still understaffed despite Liberal pledge" Globe and Mail, Jan.9.2017 http://www.theglobeandmail.com/news/politics/veterans-affairs-canada-still-understaffed-despite-liberal-pledge/article33543594/

 

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