Special Olympics Canada
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔
FINANCIAL TRANSPARENCY
Most recent Audited financial statements 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.
67%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 67 cents are available for programs.
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OVERVIEW
About Special Olympics Canada:
Special Olympics Canada is a 3-star charity with a below-average results reporting grade. The charity is financially transparent, however, the charity’s foundation’s audited financial statements were not available online. Special Olympics Canada has reasonable overhead costs. It has reserve funds that can cover its annual program costs for a little under a year.
Founded in 1969, Special Olympics Canada (SOC) is the Canadian body for Special Olympics International. It improves the lives of Canadians with intellectual disabilities through sports. It also promotes public awareness around disabled children. Special Olympics Canada oversees 12 Canadian chapters by programming and funding them. SOC provides sports programs, free health exams, leadership development, and public education.
Sports programs – 85% of program costs
Special Olympics Canada helps 41,000 athletes as of F2022. SOC has 17,500 volunteers and coaches running its programs. The charity states that it runs 6,175 programs across Canada for people aged 2 and above.
SOC’s Active Start and FUNdamentals programs help disabled children build basic skills through sports. The programs take place weekly and develop important motor and physical abilities.
Special Olympics Canada’s Healthy Athletes program provides free health exams for athletes. The program offers exams in eight disciplines including vision, podiatry and dentistry. SOC reports a large impact on providing healthcare to people with intellectual disabilities.
SOC’s Athlete Leadership program aims to develop athletes’ leadership abilities. It does so through public speaking and governance training. It also encourages athletes to join sports committees and input councils. The charity reports lasting benefits on participants, such as increased confidence.
Public education – 15% of program costs
In F2022, Special Olympics Canada held the Our Podium Campaign. This campaign considered the meaning of sport and success. It had over 5 million impressions online and increased volunteer registration.
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Results and Impact
In 2015, SiMPACT Strategy Group completed a social audit on Special Olympics Canada. It found that SOC’s Active Start and FUNdamentals programs' Social Return on Investment (SROI) was $3.66 per dollar invested. The study found that athletes were more physically apt and more engaged in school. They also enjoyed the programs.
In 2016, Bain & Company completed a social audit on Special Olympics Canada. The study highlights an SROI of $7 per dollar invested. It claims that 20% fewer SOC athletes have anxiety disorders compared to the average individual. The study states that 10% fewer SOC athletes are obese compared to the average individual. It also claims that the employment rate for Special Olympics Canada athletes is 44%. The employment rate for Canadians with disabilities in 2016 was 28% in comparison.
While Charity Intelligence highlights these key results, they may not be a complete representation of Special Olympics Canada's results.
This charity is not yet rated on impact (n/r).
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Finances
The following analysis consolidates the financial statements of Special Olympics Canada and Special Olympics Canada Foundation.
Special Olympics Canada received $7.9m in donations and special events revenue in F2022. The charity also received $7.5m in government funding (47% of total consolidated revenues). Administrative costs are 4% of revenues (excluding investment income) and fundraising costs are 29% of donations. This means overhead costs are 33%. For every dollar donated, 67 cents go the cause. This is within Ci’s reasonable range for overhead spending. The charity’s cents to the cause have dropped from 81 cents in F2021 to 67 cents in F2022. This is mostly due to an increase in fundraising costs. Fundraising costs are $2.3m in F2022, compared to $962k in F2021.
The charity and the foundation have funding reserves of $11.6m. These reserves can cover annual grants and program costs for 0.9 years. This includes grants to Special Olympics chapters across Canada.
This report is an update that has been sent to Special Olympics Canada for review. Changes and edits may be forthcoming.
Updated May 23rd, 2023 by Victoria Allder.
Financial Review
Fiscal year ending June
|
2022 | 2021 | 2020 |
---|---|---|---|
Administrative costs as % of revenues | 4.4% | 5.4% | 6.2% |
Fundraising costs as % of donations | 29.0% | 13.8% | 20.1% |
Total overhead spending | 33.4% | 19.2% | 26.2% |
Program cost coverage (%) | 92.1% | 121.4% | 138.7% |
Summary Financial StatementsAll figures in $000s |
2022 | 2021 | 2020 |
---|---|---|---|
Donations | 2,378 | 2,201 | 2,500 |
Goods in kind | 1,337 | 737 | 1,348 |
Government funding | 7,497 | 6,621 | 5,799 |
Special events | 5,546 | 4,773 | 5,620 |
Investment income | (870) | 1,454 | 379 |
Other income | 96 | 34 | 279 |
Total revenues | 15,984 | 15,820 | 15,926 |
Program costs | 5,318 | 3,602 | 4,569 |
Grants | 7,307 | 7,952 | 6,349 |
Donated goods exp | 1,337 | 737 | 1,348 |
Administrative costs | 735 | 780 | 958 |
Fundraising costs | 2,297 | 962 | 1,631 |
Other costs | 42 | 40 | 38 |
Total spending | 17,036 | 14,073 | 14,894 |
Cash flow from operations | (1,052) | 1,747 | 1,033 |
Capital spending | 0 | 10 | 8 |
Funding reserves | 11,623 | 14,030 | 15,143 |
Note: Ci has consolidated the audited financial statements of Special Olympics Canada with Special Olympics Canada Foundation. Ci has excluded inter-party transfers, reducing revenues and expenses by $517k in F2022, $326k in F2021 and $461k in F2020. Ci has excluded the change in the cash surrender value of Special Olympics Canada Foundation’s life insurance policies, affecting revenues by ($23k) in F2022, ($91k) in F2021 and $6k in F2020. Ci has adjusted for deferred donations to the Foundation of ($162k) in F2022, ($35k) in F2021 and $233k in F2020. The charity had deferred revenues of ($675k) in F2022 ($1.4m) in F2021 and $1.8m in F2020; however, there was no breakdown between deferred government funding and donations, so we were unable to make this adjustment. Ci has adjusted for government funding to the Foundation for the Canada Emergency Wage Subsidy. This was included in Special Olympics Canada Foundation’s T3010, but not its financial statements.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
1 |
$120k - $160k |
4 |
$80k - $120k |
4 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2022
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Comments & Contact
Comments added by the Charity:
Charity Contact
This email address is being protected from spambots. You need JavaScript enabled to view it. Tel: 416-927-9050