First Book Canada

1200 Aerowood Drive
Mississauga, ON L4W 2S7
Executive Director: Tom Best
Board Chair: Tim Pinnington

Website: http://www.firstbookcanada.org/
Charitable Reg. #: 88875 4603 RR0001
Sector: Education
Public Foundation

Donor Accountability

Grade: C+

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

Full-time staff #4

Avg. Compensation $84,402

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 0
< $40k 2
Information from most recent CRA Charities Directorate filings for F2015

About First Book Canada:

First Book was founded in the United States in 1992 with the mission of ending illiteracy by providing children from low-income families access to books. First Book Canada was launched in 2008 to help book ownership in low-income Canadian children. To date, First Book Canada has distributed more than 5 million books and educational resources to programs and schools serving children from low-income families. First Book Canada reports that all of the pre-schools and after-school programs serving children in need do not have a single book for the children they serve. It also reports that some low-income neighbourhoods only have one book for every 300 children.

First Book Canada works in tandem with publishing houses in two ways. Its First Book Marketplace is an online store offering resources at prices 50% to 90% off retail, available only to community programs and schools serving children in need. This marketplace allows programs to acquire resources at a reduced cost while offering publishers a new customer base for their products.

Its National Book Bank is a clearinghouse for publishers’ excess inventory, providing a way for them to efficiently donate large quantities of books. These books are distributed by First Book to programs across Canada serving children in need. Partnering with Frontier College, it provides books to children and families served by Frontier College nationwide.

In February of 2017, First Book Canada received 500,000 books from Nelson publishing to distribute to 200,000 children in need across the nation.

Financial Review:

First Book Canada is considered a large-cap charity with monetary and goods-in-kind donations of $6.8m in F2016. In F2015, 96% of donated monetary and goods were tax-receipted per the charity’s T3010A filings. Its administrative costs are 3% of revenues and the charity does not report any fundraising costs. For every dollar donated, 97 cents goes to the cause, falling outside of Ci’s reasonable range. The charity has a funding reserve which can cover a little under 10 months of program costs excluding the value of donated goods.

This report is an update and is currently being reviewed by First Book Canada. Changes and edits may be forthcoming.

Updated June 22, 2017 by Josh Lam.

Financial Ratios

Fiscal year ending December
201620152014
Administrative costs as % of revenues 3.2%1.8%2.3%
Fundraising costs as % of donations 0.0%0.0%0.0%
Program cost coverage (%) 81.8%50.9%51.6%

Summary Financial Statements

All figures in $000s
201620152014
Donations 860772579
Goods in kind 5,8999,5556,345
Fees for service 250177136
Other income 9510083
Total revenues 7,10510,6047,143
Program costs 6,71410,3246,902
Administrative costs 229195166
Other costs 020
Cash flow from operations 1628375
Funding reserves 666391287

Comments added by the Charity:

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