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.
53%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 53 cents are available for programs.
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OVERVIEW
About Special Olympics Canada:
Special Olympics Canada is a 3-star charity with an above-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 overhead costs outside Ci's reasonable range.
Founded in 1969, Special Olympics Canada (SOC) is the Canadian body for the Special Olympics. The charity improves the lives of Canadians with intellectual disabilities through sport. It states that Special Olympics programs may be the only place those with intellectual disabilities can engage with communities and develop leadership and life skills. SOC oversees twelve Canadian chapters by programming and funding them. The charity runs two programs: Sport and Public Education. Charity Intelligence calculates it spent $6.2m on its programs in F2023.
The Sport programs received 84% of program spending. These programs support those with intellectual disabilities from grassroots to National level sport. In F2023 SOC had 27,110 active registered athletes and 15,764 volunteers. The charity states it runs 6,175 programs across Canada for those aged two and above.
The Healthy Athletes subprogram provides health services and education to Special Olympics athletes. SOC states there are severe health disparities faced by those with intellectual disabilities. In F2023 SOC performed 850 free health screens across Canada.
The Athlete Leadership subprogram equips athletes with tools needed to be better leaders. This enables them to expand beyond sports training to options such as public speaking. Athletes in the program also develop a voice to represent the Special Olympics in Canada. SOC offers six athlete leadership courses.
Active Start and FUNdamentals both help youth with intellectual disabilities build basic skills through sport. Active Start operates for children 2-6 years of age, and then FUNdamentals takes over for those aged 7-12. The programs take place weekly and develop important motor and physical abilities.
The Public Education program received 16% of program spending. In F2023 the charity launched the NextGen Coaching Apprentice Program. This program educates younger coaches and prepares them for coaching opportunities with SOC. The charity also promotes public awareness and educates the public about those with intellectual disabilities.
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Results and Impact
The Special Olympics World Games took place June 17-25, 2023, in Berlin. 89 athletes represented Team Canada. Team Canada won 46 gold medals, 20 silver medals and 30 bronze medals.
In 2023, research from Ontario Tech University examined the depression status of individuals with disabilities. The study reported Special Olympics participants were 49% less likely to develop depression compared to non-participants.
In 2016, Bain & Company completed a social audit on Special Olympics Canada. The study highlights an SROI of $7 per dollar invested. It found 10% fewer athletes are overweight compared to average individuals with intellectual disabilities. It also states 20% fewer athletes had anxiety disorders due to access to sport.
While Ci highlights these key results, they may not be a complete representation of Special Olympics Canada’s results and impact.
The charity is not yet rated on impact (n/r).
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Finances
Charity Intelligence has consolidated Special Olympics Canada and Special Olympics Canada Foundation (associated foundation) in the following financial analysis.
In F2023 SOC received $8.8m in cash donations and special events fundraising. The charity received $8.8m in government funding, representing 43% of total revenues.
Administrative costs are 5% of revenues (excluding investment income). Fundraising costs are 42% of donations. This results in total overhead spending of 47%. For every dollar donated, 53 cents go to the cause. This falls outside Ci’s reasonable range for overhead spending. The charity's cents to the cause have dropped from 67 cents in F2022 to 53 cents in F2023. This is mostly due to an increase in fundraising costs. Fundraising costs are $3.7m in F2023, compared to $2.3m in F2022.
In F2023 SOC spent $13.6m on its programs and grants, which is 66% of its revenue. In F2023 it had a surplus of $299k.
Special Olympics Canada has $11.7m in reserve funds. This can cover 87%, or 10 months of its annual program spending.
In F2023, Special Olympics Canada paid external fundraisers $1.2m who collected $1.7m in donations. This means it cost SOC 71 cents to raise $1 using external fundraisers.
This charity report is an update that has been sent for review to Special Olympics Canada. Changes and edits may be forthcoming.
Updated on June 14, 2024, by Grady Simpson.
Financial Review
Fiscal year ending June
|
2023 | 2022 | 2021 |
---|---|---|---|
Administrative costs as % of revenues | 4.9% | 4.6% | 6.0% |
Fundraising costs as % of donations | 41.9% | 29.0% | 13.8% |
Total overhead spending | 46.8% | 33.5% | 19.8% |
Program cost coverage (%) | 86.5% | 92.1% | 121.4% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
---|---|---|---|
Donations | 1,682 | 2,378 | 2,201 |
Goods in kind | 1,899 | 1,337 | 737 |
Government funding | 8,799 | 7,497 | 6,621 |
Special events | 7,069 | 5,546 | 4,773 |
Investment income | 885 | (870) | 1,454 |
Other income | 279 | (579) | (1,367) |
Total revenues | 20,613 | 15,309 | 14,419 |
Program costs | 6,244 | 5,318 | 3,602 |
Grants | 7,318 | 7,307 | 7,952 |
Donated goods exp | 1,899 | 1,337 | 737 |
Administrative costs | 974 | 735 | 780 |
Fundraising costs | 3,663 | 2,297 | 962 |
Other costs | 39 | 42 | 40 |
Total spending | 20,138 | 17,036 | 14,073 |
Cash flow from operations | 475 | (1,727) | 345 |
Capital spending | 40 | 0 | 10 |
Funding reserves | 11,732 | 11,623 | 14,030 |
Note: INTER-PARTY TRANSFERS: Ci has excluded inter-party transfers. This reduced revenues and expenses by $978k in F2023, $218k in F2022, and $326k in F2021. LIFE INSURANCE POLICIES: Ci has excluded the change in the cash surrender value of the Foundation’s life insurance policies. This affected revenues by ($2k) in 2023, ($29k) in 2022, and ($91k) in 2021. DEFERRED ADJUSTMENT: SOC uses deferred accounting. To show donors information on a consistent basis, Ci adjusted for these deferred revenues. This affected foundation revenues by $172k in F2023, ($162k) in F2022, and ($35k) in F2021. The charity had deferred revenues of $176k in F2023, ($675k) in F2022, and ($1.4m) in F2021. The adjustment was made to other revenue as there was no breakdown between deferred donations and government funding. EMERGENCY WAGE SUBSIDY: 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 |
8 |
$80k - $120k |
0 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
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Comments & Contact
Comments added by the Charity:
Charity Contact
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