Toronto Foundation for Student Success
STAR RATINGCi's Star Rating is calculated based on the following independent metrics: |
✔+
FINANCIAL TRANSPARENCY
Audited financial statements for current and previous years available on the charity’s website.
A+
RESULTS REPORTING
Grade based on the charity's public reporting of the work it does and the results it achieves.
High
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.
95%
CENTS TO THE CAUSE
For a dollar donated, after overhead costs of fundraising and admin/management (excluding surplus) 95 cents are available for programs.
My anchor
OVERVIEW
About Toronto Foundation for Student Success:
Toronto Foundation for Student Success is a 5-star charity. The charity is financially transparent and has High demonstrated impact. It has an A+ results reporting score which is above average. For every dollar donated, 95 cents are available for programs. This is within Ci’s reasonable range. Toronto Foundation for Student Success has $19.7m in reserve funds which can cover six months of programming.
Founded in 1998, Toronto Foundation for Student Success (TFSS) supports children and youth from underserved neighbourhoods in Toronto by helping remove barriers to their education. By providing food, free after-school programs, eye and ear care, and emergency funds for children and youth in need, TFSS helps them succeed in school. According to TFSS, one in five children in Canada are at risk of going to school hungry, and the risk is even higher with BIPOC (Black, Indigenous, and people of colour) children. Also, children from the lowest-income families are 48% less likely to participate in after-school activities compared to children from the highest-income families. Toronto Foundation for Student Success runs two main programs: Student Nutrition and beyond 3:30. In fiscal 2023 (year ending July), TFSS spent $31.1m on its programs.
A Charity Intelligence 2024 Top 100 Rated Charity.
The Student Nutrition program was 93% of spending in F2023. This program helps get food to children in schools who need it. TFSS supports 826 Student Nutrition Programs across Toronto. In F2023, TFSS served a total of 29,526,562 meals to 221,000 students. The Student Nutrition spending also covers the charity’s Nutrition Pantry program which delivers shelf-stable foods directly to elementary and secondary schools. In F2023 it added 47 schools, now serving 170 total schools. The Nutrition Pantry Program provided a total of 1,284,452 meals to 55,727 students, marking a 78% increase in meals served compared to F2022.
The beyond 3:30 program was 7% of spending in F2023. This program gives children between the ages of 8 and 14 a safe place for tutoring and extra-curricular activities. It offers nutrition, sports, homework, financial literacy, and arts programs. In F2023, 1,717 students registered in beyond 3:30, an 80% increase from the previous year (956 students). Beyond 3:30 also provided 131,240 total hours of academic support, 3,420 hours of physical activity, and ran 24 programs in 19 different schools.
My anchor
Results and Impact
In 2012, the Toronto District School Board published a report evaluating the Student Nutrition Program. The report found that students who ate a healthy breakfast at school performed better than their peers who did not have breakfast. The results were:
They improved reading standards by 10% compared to those who did not have breakfast.
78% were on track for graduation.
50% were less likely to be suspended.
72% participated more in class.
In 2022, Toronto Foundation for Student Success surveyed beyond 3:30 members. The report found that students who participated in beyond 3:30 had improved grades and fitness. The results were:
75% of children indicated improved grades in either math and/or reading.
71% of kids said they felt physically fit and healthy compared to only 58% before joining the program.
While Charity Intelligence highlights these results, they may not be a complete representation of Toronto Foundation for Student Success’ results and impact. Charity Intelligence has rated Toronto Foundation for Student Success as having High impact based on demonstrated impact per dollar.
Impact Rating: High
•
My anchor
Finances
In F2023, Toronto Foundation for Student Success received $9.7m in donations, a 125% increase compared to $4.3m in F2022. TFSS also received $21.9m in government funding representing 57% of total revenue in F2023. Administrative costs are 3% of revenue and fundraising costs are 2%. In F2023, TFSS spent 5% on overhead costs meaning for every dollar, 95 cents are available to go to the cause. This is within Ci’s reasonable range for overhead spending.
In 2023, TFSS had a surplus of $5.9m (15.5%) of total revenue. At the end of F2023, TFSS had $19.7m in reserve funds, which can cover 63% or almost eight months of its annual program costs.
Profile updated on May 24, 2024 by Abby Stout.
Financial Review
Fiscal year ending July
|
2023 | 2022 | 2021 |
|---|---|---|---|
| Administrative costs as % of revenues | 3.0% | 2.9% | 2.9% |
| Fundraising costs as % of donations | 1.9% | 1.5% | 3.3% |
| Total overhead spending | 4.9% | 4.3% | 6.2% |
| Program cost coverage (%) | 63.4% | 48.6% | 34.4% |
Summary Financial StatementsAll figures in $000s |
2023 | 2022 | 2021 |
|---|---|---|---|
| Donations | 9,713 | 4,323 | 3,809 |
| Goods in kind | 383 | 326 | 401 |
| Government funding | 21,906 | 24,829 | 25,837 |
| Fees for service | 1 | 0 | 1 |
| Investment income | 936 | 57 | 399 |
| Other income | 5,394 | 3,125 | 1,317 |
| Total revenues | 38,333 | 32,660 | 31,764 |
| Program costs | 28,349 | 24,778 | 25,837 |
| Grants | 2,742 | 3,676 | 3,278 |
| Administrative costs | 1,124 | 936 | 921 |
| Fundraising costs | 180 | 64 | 126 |
| Total spending | 32,395 | 29,453 | 30,162 |
| Cash flow from operations | 5,938 | 3,207 | 1,602 |
| Capital spending | 0 | 0 | 0 |
| Funding reserves | 19,720 | 13,834 | 10,023 |
Note: DEFERRED CONTRIBUTIONS: Ci adjusted for deferred contributions and included the amount in other income as it is unclear from the audited financial statements whether this is government or non-government revenue. This affected total revenues by $5.4m, in F2023, $3.1m in F2022, and $1.3m in F2021. Funding from the Toronto District School Board ($422k in F2023, and $400k in F2022 and F2021) is also included in government funding. ACTIVITY-BASED COSTING: Ci took program, administrative, and fundraising costs from the charity’s T3010 filings with the CRA for all three years.
Salary Information
$350k + |
0 |
$300k - $350k |
0 |
$250k - $300k |
0 |
$200k - $250k |
1 |
$160k - $200k |
0 |
$120k - $160k |
4 |
$80k - $120k |
5 |
$40k - $80k |
0 |
< $40k |
0 |
Information from most recent CRA Charities Directorate filings for F2023
My anchor
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: 416-394-6880