Conam Charitable Foundation
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✖
FINANCIAL TRANSPARENCY
Audited financial statements available only through official request for information from Charities Directorate.
F
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.
83%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 83 cents are available for programs.
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OVERVIEW
About Conam Charitable Foundation:
Registered in 2007 with the CRA, Conam Charitable Foundation facilitates flow-through share donations to donor-advised Canadian charities. Flow-though shares are special shares of mining, oil, and other energy companies that are eligible for tax benefits. Combining these tax benefits with charitable donation tax benefits allows donors to reduce the after-tax cost of giving.
The Foundation does not report any contact or compensation information in its T3010 CRA filings. Charity Intelligence could not find a website for further details about the charity.
According to Conam Charitable Foundation’s T3010 filing, Conam received $61.6m in donations in F2020. This makes Conam one of the biggest charities in Canada, and similar in size to charities such as United Way Montreal and United Way Calgary.
In F2020, Conam granted $45.0m to 533 registered charities and qualified donees. The five largest grant recipients in F2020 were: Charitable Gift Funds Canada ($5.4m), Jewish Community Foundation of Montreal ($3.9m), Sam Sorbara Charitable Foundation ($3.4m), Toronto General & Western Hospital Foundation ($3.1m), and Jewish Foundation of Greater Toronto ($1.8m).
Other than the reported grants, the only significant cost item reported on the T3010 is $10.2m in professional and consulting fees. These are fees paid to financial companies for brokerage services.
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Results and Impact
Charity Intelligence did not find any quantified outcomes reported on Conam Charitable Foundation. This charity is not yet rated on impact (n/r).
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Finances
Conam Charitable Foundation is not financially transparent. The following financial analysis is based on Conam’s T3010 filing with the CRA and its F2018 unaudited financial statements provided to Ci from the CRA. As such, no financial notes or further breakdown of the figures below were provided. Ci has requested the charity’s most recent financial statements from the CRA.
Conam Charitable Foundation is a Major 100 charity with $61.7m in donations in F2020. Administrative costs are 17% of revenues (less investment income) and fundraising costs are less than 1% of donations. This results in total overhead spending of 17%. For every dollar donated, 83 cents go to the cause. This is within Ci’s reasonable range for overhead spending.
Conam Charitable Foundation has $13.1m in funding reserves. The charity could cover 29% or almost 3 months of granting at the F2020 level with current reserves.
This charity report is an update that has been sent to Conam Charitable Foundation for review. Changes and edits may be forthcoming.
Updated on August 19, 2021 by Brenleigh Jebb.
Financial Review
Fiscal year ending June
|
2020 | 2019 | 2018 |
|---|---|---|---|
| Administrative costs as % of revenues | 16.5% | 14.6% | 13.5% |
| Fundraising costs as % of donations | 0.0% | 0.1% | 0.0% |
| Total overhead spending | 16.5% | 14.7% | 13.5% |
| Program cost coverage (%) | 29.0% | 24.8% | 24.1% |
Summary Financial StatementsAll figures in $000s |
2020 | 2019 | 2018 |
|---|---|---|---|
| Donations | 61,705 | 36,793 | 23,536 |
| Investment income | 172 | 7 | 45 |
| Total revenues | 61,877 | 36,800 | 23,581 |
| Grants | 45,038 | 30,173 | 26,406 |
| Administrative costs | 10,191 | 5,377 | 3,187 |
| Fundraising costs | 21 | 18 | 0 |
| Other costs | 4 | 3 | 3 |
| Total spending | 55,253 | 35,571 | 29,596 |
| Cash flow from operations | 6,624 | 1,229 | (6,014) |
| Funding reserves | 13,068 | 7,488 | 6,357 |
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 F2020
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Comments & Contact
Comments added by the Charity:
Charity Contact
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