First Book Canada

90 Burnhamthorpe Rd W, Suite 1502
Mississauga, ON L5B 3C3
Executive Director: Tom Best
Board Chair: Tim Pinnington

Charitable Reg. #:88875 4603 RR0001

STAR RATING

Ci's Star Rating is calculated based on the following independent metrics:

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✔+

FINANCIAL TRANSPARENCY

Audited financial statements for current and previous years available on the charity’s website.

B

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.

97%

CENTS TO THE CAUSE

For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 97 cents are available for programs.



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Programs

About First Book Canada:

Founded in 2009, First Book Canada works to create equal access to quality education for children. First Book Canada reports that since 2009, it has distributed more than 7 million books and educational resources to programs and schools serving children from low-income families across Canada. First Book believes that education is a child’s best path out of poverty, but access to quality education is far from equal. The charity says that almost 25% of Canadian households do not own a single book, and that with fewer than 10 books at home, a child can fall up to 18 months behind in school and may never catch up.

First Book Canada distributed books through four channels: The First Book Canada National Book Bank, Pop Up Book Distributions, The First Book Canada Marketplace, and First Book Canada Reading Celebrations. The National Book Bank is a centralized system which offers large quantities of publisher-donated books for only the cost of shipping. Pop Up Book Distributions are in-community events that allow local educators and program leaders to choose from thousands of books for their children. The Marketplace is a member-only, online store offering children’s books and educational materials at 50-90% off retail prices. Reading Celebrations are events for students across Canada to have a visit and inspiring presentation by a children’s author or illustrator.

In F2018, First Book Canada distributed over one million new books and resources and reached over 300,000 children and youth throughout Canada. The First Book Canada Network is made up of educators, program leaders, health service providers, and professionals who serve children in need. The network has been growing steadily over the past few years. It had 9,434 members in F2018, compared with 7,397 in F2017 and 5,659 in F2016. First Book Canada reports that teachers have noticed increased reading levels since students received books from First Book. Students often share them with siblings, or practice reading to them.

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Finances

First Book Canada is a large charity, with total donations and donated books in-kind of $8.4m in F2018, with donated books accounting for 91% of donations. Administrative costs are 3% of revenues (excluding investment income) and the charity reports no fundraising costs. For every dollar donated, 97 cents go to the cause. This is outside Ci’s reasonable range for overhead spending. Funding reserves of $494k can cover five months of annual program costs. Including books distributed in-kind in program costs, funding reserves can cover less than one month of annual program costs.

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

Updated on August 2, 2019 by Lauren Chin.

Financial Review


Financial Ratios

Fiscal year ending December
201820172016
Administrative costs as % of revenues 3.0%1.5%3.2%
Fundraising costs as % of donations 0.0%0.0%0.0%
Total overhead spending 3.0%1.5%3.2%
Program cost coverage (%) 44.8%49.4%81.8%

Summary Financial Statements

All figures in $000s
201820172016
Donations 754707860
Goods in kind 7,60413,7005,899
Fees for service 311235250
Other income 946795
Total revenues 8,76314,7107,105
Program costs 1,102886814
Donated goods exp 7,60413,7005,899
Administrative costs 267215229
Fundraising costs 000
Total spending 8,97314,8026,943
Cash flow from operations (210)(92)162
Funding reserves 494438666

Salary Information

Full-time staff: 6

Avg. Compensation $68,012

Top 10 staff salary range

$350k +
0
$300k - $350k
0
$250k - $300k
0
$200k - $250k
0
$160k - $200k
0
$120k - $160k
1
$80k - $120k
2
$40k - $80k
1
< $40k
2

Information from most recent CRA Charities Directorate filings for F2017

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Comments & Contact

Comments added by the Charity:

Charity Contact

Website: www.firstbookcanada.org
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 866-READ-NOW or 866-732-3669

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